OPEN-SOURCE SCRIPT
EMA Channel + MTF Bias Table
What This System Is Trying To Do
This system separates trading into 2 jobs:
1. The Table
Answers:
“Should I even be looking for longs or shorts?”
2. The EMA Signals
Answers:
“Okay, WHEN exactly should I enter?”
That’s the whole idea.
Most beginners mix those together and take random signals.
This system tries to stop that.
Step 1 — Understand The Table
You’ll see rows like:
TFTrendVWAPQuality4HBULLSTRONG BULLA1HBULLBULLA15MBULLBULLA+5MBULLBULLB
What Each Column Means
TF = Timeframe
4H = big trend
1H = main intraday direction
15M = current market condition
5M = entry timeframe
Think of it like:
4H = weather forecast
1H = today's trend
15M = current momentum
5M = your trigger
TREND Column
This tells you market direction.
BULL
Market trending upward.
Prefer:
buy setups
long continuations
BEAR
Market trending downward.
Prefer:
shorts
bearish continuation
RANGE
Market moving sideways.
Usually:
weaker entries
slower moves
more fakeouts
Be cautious.
CHOP
Bad conditions.
This means:
random movement
fake breakouts
whipsaws
Usually avoid trading completely.
This is one of the most important things the table gives you.
VWAP Column
This shows whether price is favorably positioned relative to VWAP.
The orange line on chart = VWAP.
STRONG BULL
Price strongly above VWAP.
This is ideal for longs.
BULL
Above VWAP.
Still favorable for longs.
BEAR
Below VWAP.
Favorable for shorts.
STRONG BEAR
Strong downside pressure below VWAP.
Best short conditions.
QUALITY Column
This grades how clean the market currently is.
A+ / A
Best conditions.
Usually:
strong trend
clean movement
continuation likely
These are your best trades.
B
Okay conditions.
Tradable.
But less clean.
C
Messy conditions.
Usually:
chop starting
weaker momentum
overlapping candles
Need caution.
D
Avoid trading.
Market quality is poor.
OVERALL Bias
At bottom you'll see:
FAVOR LONGS
Means:
higher timeframes aligned bullish
Focus mainly on BUY setups.
FAVOR SHORTS
Focus mainly on SELL setups.
MIXED / CHOP
Timeframes disagree.
This is where beginners lose money forcing trades.
Usually:
wait
reduce trading
be patient
Step 2 — Wait For EMA Entry Signal
After the table gives direction:
NOW wait for actual entry.
BUY Signal
You’ll see:
white BUY label
This means:
crossover(close, emaHigh)
Basically:
price regained momentum upward
SELL Signal
You’ll see:
white SELL label
Means:
momentum turning downward
The BIG Mistake Beginners Make
They take:
every BUY
every SELL
Don’t do that.
The table decides IF signals are worth taking.
How To Actually Trade It
LONG Example
GOOD Setup
Table says:
4H = BULL
1H = BULL
15M = BULL
VWAP = BULL
Quality = A
Then:
wait for 5M BUY signal
THAT is a high-quality setup.
BAD Setup
Table says:
4H = BEAR
1H = BEAR
But 5M prints BUY.
Ignore it.
That’s usually just a temporary bounce against the trend.
Easiest Beginner Rule
ONLY TRADE:
when 4H + 1H agree.
That alone removes tons of bad trades.
What You're Looking For
You want:
aligned timeframes
clean quality
VWAP agreement
THEN EMA trigger
That creates:
cleaner continuation entries
less emotional trading
less random guessing
Best Times To Trade
This system works best during:
NY open
post-ORB expansion
trend days
sessions
It works worst during:
lunch
sideways compression
low volatility
Simplest Possible Workflow
Step 1
Check overall bias.
FAVOR LONGS?
Only hunt buys.
FAVOR SHORTS?
Only hunt sells.
MIXED?
Trade less or wait.
Step 2
Check quality.
A or A+?
Good conditions.
C or D?
Be careful.
Step 3
Wait for EMA signal.
Then enter.
Beginner Mistake To Avoid
Do NOT chase giant candles.
Best entries usually happen:
- after pullbacks
- after small pauses
- After reclaim candles
NOT after huge expansion candles.
The Goal Of This System
This system is trying to help you:
- stop trading against trend
- stop forcing chop trades
- stop taking random signals
only trade when market conditions support it
That’s the real edge.
This system separates trading into 2 jobs:
1. The Table
Answers:
“Should I even be looking for longs or shorts?”
2. The EMA Signals
Answers:
“Okay, WHEN exactly should I enter?”
That’s the whole idea.
Most beginners mix those together and take random signals.
This system tries to stop that.
Step 1 — Understand The Table
You’ll see rows like:
TFTrendVWAPQuality4HBULLSTRONG BULLA1HBULLBULLA15MBULLBULLA+5MBULLBULLB
What Each Column Means
TF = Timeframe
4H = big trend
1H = main intraday direction
15M = current market condition
5M = entry timeframe
Think of it like:
4H = weather forecast
1H = today's trend
15M = current momentum
5M = your trigger
TREND Column
This tells you market direction.
BULL
Market trending upward.
Prefer:
buy setups
long continuations
BEAR
Market trending downward.
Prefer:
shorts
bearish continuation
RANGE
Market moving sideways.
Usually:
weaker entries
slower moves
more fakeouts
Be cautious.
CHOP
Bad conditions.
This means:
random movement
fake breakouts
whipsaws
Usually avoid trading completely.
This is one of the most important things the table gives you.
VWAP Column
This shows whether price is favorably positioned relative to VWAP.
The orange line on chart = VWAP.
STRONG BULL
Price strongly above VWAP.
This is ideal for longs.
BULL
Above VWAP.
Still favorable for longs.
BEAR
Below VWAP.
Favorable for shorts.
STRONG BEAR
Strong downside pressure below VWAP.
Best short conditions.
QUALITY Column
This grades how clean the market currently is.
A+ / A
Best conditions.
Usually:
strong trend
clean movement
continuation likely
These are your best trades.
B
Okay conditions.
Tradable.
But less clean.
C
Messy conditions.
Usually:
chop starting
weaker momentum
overlapping candles
Need caution.
D
Avoid trading.
Market quality is poor.
OVERALL Bias
At bottom you'll see:
FAVOR LONGS
Means:
higher timeframes aligned bullish
Focus mainly on BUY setups.
FAVOR SHORTS
Focus mainly on SELL setups.
MIXED / CHOP
Timeframes disagree.
This is where beginners lose money forcing trades.
Usually:
wait
reduce trading
be patient
Step 2 — Wait For EMA Entry Signal
After the table gives direction:
NOW wait for actual entry.
BUY Signal
You’ll see:
white BUY label
This means:
crossover(close, emaHigh)
Basically:
price regained momentum upward
SELL Signal
You’ll see:
white SELL label
Means:
momentum turning downward
The BIG Mistake Beginners Make
They take:
every BUY
every SELL
Don’t do that.
The table decides IF signals are worth taking.
How To Actually Trade It
LONG Example
GOOD Setup
Table says:
4H = BULL
1H = BULL
15M = BULL
VWAP = BULL
Quality = A
Then:
wait for 5M BUY signal
THAT is a high-quality setup.
BAD Setup
Table says:
4H = BEAR
1H = BEAR
But 5M prints BUY.
Ignore it.
That’s usually just a temporary bounce against the trend.
Easiest Beginner Rule
ONLY TRADE:
when 4H + 1H agree.
That alone removes tons of bad trades.
What You're Looking For
You want:
aligned timeframes
clean quality
VWAP agreement
THEN EMA trigger
That creates:
cleaner continuation entries
less emotional trading
less random guessing
Best Times To Trade
This system works best during:
NY open
post-ORB expansion
trend days
sessions
It works worst during:
lunch
sideways compression
low volatility
Simplest Possible Workflow
Step 1
Check overall bias.
FAVOR LONGS?
Only hunt buys.
FAVOR SHORTS?
Only hunt sells.
MIXED?
Trade less or wait.
Step 2
Check quality.
A or A+?
Good conditions.
C or D?
Be careful.
Step 3
Wait for EMA signal.
Then enter.
Beginner Mistake To Avoid
Do NOT chase giant candles.
Best entries usually happen:
- after pullbacks
- after small pauses
- After reclaim candles
NOT after huge expansion candles.
The Goal Of This System
This system is trying to help you:
- stop trading against trend
- stop forcing chop trades
- stop taking random signals
only trade when market conditions support it
That’s the real edge.
نص برمجي مفتوح المصدر
بروح TradingView الحقيقية، قام مبتكر هذا النص البرمجي بجعله مفتوح المصدر، بحيث يمكن للمتداولين مراجعة وظائفه والتحقق منها. شكرا للمؤلف! بينما يمكنك استخدامه مجانًا، تذكر أن إعادة نشر الكود يخضع لقواعد الموقع الخاصة بنا.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
نص برمجي مفتوح المصدر
بروح TradingView الحقيقية، قام مبتكر هذا النص البرمجي بجعله مفتوح المصدر، بحيث يمكن للمتداولين مراجعة وظائفه والتحقق منها. شكرا للمؤلف! بينما يمكنك استخدامه مجانًا، تذكر أن إعادة نشر الكود يخضع لقواعد الموقع الخاصة بنا.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.