Indicator · Pine Script v4 · On the chart

Triple EMA + Sloping Trend

by krosenfeld7

This indicator plots 50, 100 and 150 period exponential moving averages on the price chart and measures each average slope in degrees.

View on GitHub

Repaints

GitHub stars5on the repository
Pine versionv4older, still runs
Lines of code81
Settings8inputs
LicenceApache-2.0
Last update3 years ago12 May 2023

Add It to Your TradingView Chart

  1. 1Copy the scriptPress Copy script above, or the copy button on the code below.
  2. 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
  3. 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
  4. 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.

Source Code

81 lines of Pine Script v4 from Triple_EMA+Sloping_Trend/Triple_EMA+Sloping_Trend.txt, published under Apache-2.0. Keep the author's credit and licence lines when you reuse it.

Triple_EMA+Sloping_Trend.txt
//@version=4
// EMA Section
study(title="Triple EMA + Sloping Trend", shorttitle="Triple EMA + Sloping Trend", overlay=true, max_labels_count = 500)

emaShort    = input(title = "Short EMA Length", type = input.integer, defval = 50,  minval = 1)
emaShortSrc = input(title = "Short EMA Src",    type = input.source,  defval = close)
emaMed      = input(title = "Med EMA Length",   type = input.integer, defval = 100, minval = 1)
emaMedSrc   = input(title = "Med EMA Src",      type = input.source,  defval = close)
emaLong     = input(title = "Long EMA Length",  type = input.integer, defval = 150, minval = 1)
emaLongSrc  = input(title = "Long EMA Src",     type = input.source,  defval = close)
slopeRange  = input(title = "Slope Range",      type = input.integer, defval = 10,  minval = 1)
slopeDegLim = input(title = "Slope Angle Limit",type = input.float,   defval = 30,  minval = 1)

ema50  = ema(close, 50)
ema100 = ema(close, 100)
ema150 = ema(close, 150)

plot(ema50, color=color.blue, linewidth = 2)
plot(ema100, color=color.yellow, linewidth = 2)
plot(ema150, color=color.red, linewidth = 2)

calculate_slope(_range, _src) =>
    _y = _src - nz(_src[_range])
    _angle = atan(_y/_range)
    _angle

calculate_avg_slope(_range, _src) =>
    _total = 0.0
    for i = 1 to _range
        _total += calculate_slope(i, _src)
    
    _total / _range

slopeEMA1 = todegrees(calculate_avg_slope(slopeRange, ema50))
slopeEMA2 = todegrees(calculate_avg_slope(slopeRange, ema100))
slopeEMA3 = todegrees(calculate_avg_slope(slopeRange, ema150))

// Bullish
// 50 MA > 100 MA > 200 MA all with slopes > 30 deg
// closes below 50 EMA, but above 100 EMA, long when candle closes above 50 EMA

closeBelow50  = crossunder(close, ema50)
closeBelow100 = crossunder(close, ema100)
closeBelow150 = crossunder(close, ema150)

correctBullOrder = barssince(closeBelow50) < barssince(closeBelow100)

tempLongPos = ema50 > ema100 and ema100 > ema150 and correctBullOrder and crossover(close, ema50)

emaLongPos = barssince(tempLongPos) < barssince(close < ema100) and barssince(tempLongPos) < barssince(close < ema150)

slopeLongPos = slopeEMA1 > slopeDegLim and slopeEMA2 > slopeDegLim and slopeEMA3 > slopeDegLim

// Bearish
// 50 MA < 100 MA < 200 MA all with slopes < -30 deg
// closes above, but below 100 EMA, short when candle closes below 50 EMA

closeAbove50  = crossover(close, ema50)
closeAbove100 = crossover(close, ema100)
closeAbove150 = crossover(close, ema150)

correctBearOrder = barssince(closeAbove50) < barssince(closeAbove100)

tempShortPos = ema50 < ema100 and ema100 < ema150 and correctBearOrder and crossunder(close, ema50)

emaShortPos = barssince(tempShortPos) < barssince(close > ema100) and barssince(tempShortPos) < barssince(close > ema150)

slopeShortPos =  slopeEMA1 < -slopeDegLim and slopeEMA2 < -slopeDegLim and slopeEMA3 < -slopeDegLim

// Computing Strategy
long  = emaLongPos  and slopeLongPos
short = emaShortPos and slopeShortPos

if long
    label.new(x = bar_index, y = na, text = "Long", yloc = yloc.abovebar, color = color.green)
if short
    label.new(x = bar_index, y = na, text = "Short", yloc = yloc.abovebar, color = color.red)

// Alerts
alertcondition(long, title = "Long Signal", message = "Long @ {{timenow}}: {{ticker}} -> {{interval}}: {{close}}")
alertcondition(short, title = "Short Signal", message = "Short @ {{timenow}}: {{ticker}} -> {{interval}}: {{close}}")

Overview

Triple EMA + Sloping Trend places a long label when the averages stack upward, all slopes exceed the angle limit, and price closes back above the shortest average after a dip that remains above the middle average. A short label uses the opposite stack, negative slopes and a close below the shortest average. Slope range and angle limit change the filter. Declared length and source inputs are unused; the averages use close and fixed lengths. It has no orders or stops.

Details

Published by

krosenfeld7 on GitHub

Type

Indicator, Pine Script v4

Draws

On the price chart

Category

Trend, Moving averages

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

  • Signals can change on the live bar or after it closes (repainting)

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

SettingTypeDefaultVariable
Short EMA Lengthint50emaShort
Short EMA SrcsourcecloseemaShortSrc
Med EMA Lengthint100emaMed
Med EMA SrcsourcecloseemaMedSrc
Long EMA Lengthint150emaLong
Long EMA SrcsourcecloseemaLongSrc
Slope Rangeint10slopeRange
Slope Angle Limitfloat30slopeDegLim
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.

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