OPEN-SOURCE SCRIPT
ema - andyjk
XAUUSD Traffic Lights + VWAP + 60 Pip Levels
A simple, all-in-one trend indicator designed for trading Gold (XAUUSD).
This indicator combines three Exponential Moving Averages (EMAs), VWAP and two live price levels to help traders identify market direction and potential trading opportunities.
Traffic Light EMA System
The indicator uses three coloured moving averages to make identifying the overall trend easier:
* 🟢 50 EMA (Green) – Short-term trend
* 🟠 100 EMA (Orange) – Medium-term trend
* 🔴 200 EMA (Red) – Longer-term trend
When the 50 EMA is above the 100 EMA and the 100 EMA is above the 200 EMA, the market is considered bullish.
When the 50 EMA is below the 100 EMA and the 100 EMA is below the 200 EMA, the market is considered bearish.
VWAP – Purple Line
The purple VWAP (Volume Weighted Average Price) helps traders see whether gold is trading above or below its volume-weighted average price.
Live 60-Pip Price Levels
Two horizontal lines automatically follow the live gold price, remaining 60 pips above and below it.
Using the default setting of 1 pip = $0.10, the lines are positioned $6.00 above and $6.00 below the current price.
The colours automatically change depending on the EMA trend:
* Bullish trend: Green line above price, red line below.
* Bearish trend: Red line above price, green line below.
* Neutral trend: Both lines turn grey when the EMAs are not fully aligned.
Both horizontal lines move as the market price changes and extend only to the right of the current candle.
Customisable Settings
Traders can adjust the pip distance and pip value to suit their preferred trading approach.
Suitable Timeframes
Designed primarily for XAUUSD scalping on the 1-minute and 5-minute charts, but can also be used on higher timeframes.
Purpose
The aim of this indicator is to provide a clean, easy-to-understand chart that combines trend direction, VWAP and dynamic price levels without needing several separate indicators.
Disclaimer: This indicator is intended for technical analysis and educational purposes only. It does not provide automatic buy or sell signals or guarantee profitable trades.
A simple, all-in-one trend indicator designed for trading Gold (XAUUSD).
This indicator combines three Exponential Moving Averages (EMAs), VWAP and two live price levels to help traders identify market direction and potential trading opportunities.
Traffic Light EMA System
The indicator uses three coloured moving averages to make identifying the overall trend easier:
* 🟢 50 EMA (Green) – Short-term trend
* 🟠 100 EMA (Orange) – Medium-term trend
* 🔴 200 EMA (Red) – Longer-term trend
When the 50 EMA is above the 100 EMA and the 100 EMA is above the 200 EMA, the market is considered bullish.
When the 50 EMA is below the 100 EMA and the 100 EMA is below the 200 EMA, the market is considered bearish.
VWAP – Purple Line
The purple VWAP (Volume Weighted Average Price) helps traders see whether gold is trading above or below its volume-weighted average price.
Live 60-Pip Price Levels
Two horizontal lines automatically follow the live gold price, remaining 60 pips above and below it.
Using the default setting of 1 pip = $0.10, the lines are positioned $6.00 above and $6.00 below the current price.
The colours automatically change depending on the EMA trend:
* Bullish trend: Green line above price, red line below.
* Bearish trend: Red line above price, green line below.
* Neutral trend: Both lines turn grey when the EMAs are not fully aligned.
Both horizontal lines move as the market price changes and extend only to the right of the current candle.
Customisable Settings
Traders can adjust the pip distance and pip value to suit their preferred trading approach.
Suitable Timeframes
Designed primarily for XAUUSD scalping on the 1-minute and 5-minute charts, but can also be used on higher timeframes.
Purpose
The aim of this indicator is to provide a clean, easy-to-understand chart that combines trend direction, VWAP and dynamic price levels without needing several separate indicators.
Disclaimer: This indicator is intended for technical analysis and educational purposes only. It does not provide automatic buy or sell signals or guarantee profitable trades.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.