An indicator that sets trend direction from a fast and slow EMA on four-hour data, then looks for a crossover of the same EMAs on the chart timeframe, intended as fifteen minutes, in that direction.
1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
An optional volume-above-average check and a cooldown filter signals. Each signal gets an ATR-based stop and take profit, drawn as lines and labels, with an optional exit on trend reversal and simulated win and loss labels.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
EMA Fast Length
int
9
ema_fast_len
EMA Slow Length
int
25
ema_slow_len
Volume SMA Length
int
20
vol_sma_len
ATR Length
int
14
atr_len
Stop Loss Multiplier
float
1.5
stop_mult
Take Profit Multiplier
float
3.0
tp_mult
Require Volume Confirmation
bool
true
use_volume
Exit on Trend Reversal
bool
true
exit_on_reversal
Cooldown Bars
int
4
cooldown_bars
Show TP/SL Lines
bool
true
show_tp_sl_lines
Show Trade Plan Labels
bool
true
show_trade_labels
Show Historical Win/Loss
bool
true
show_historical
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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