OPEN-SOURCE SCRIPT
MFB - 9 EMA retrace
Peace – Here is 9 and 20 EMA retrace indicator that I worked on with Luxalgo- Quant.
It’s a simple indicator, yet common in the Trading Community. Peace.
Here is the Luxalgo – Quant description:
MFB - 9 EMA Retrace Setup
This indicator identifies a trend-following pullback strategy based on the 9 and 20 Exponential Moving Averages (EMAs).
How it works:
1. The Setup: The script waits for a directional shift, signaled by the 9 EMA crossing the 20 EMA.
2. The Pullback (Retrace): Once a trend is established, it waits for price to pull back and touch or cross the 9 EMA.
3. The Trigger: A signal is generated when a candle finally closes beyond the 9 EMA in the direction of the trend (e.g., closing above the 9 EMA for longs).
4. Risk Management: Upon a valid signal, the indicator draws a projected trade setup directly on the chart. It places a Stop Loss at the 20 EMA and projects a Take Profit based on a customizable Risk/Reward ratio (default 1:2).
Features:
• Continuation Mode: An optional setting allows you to take retracements even if the 9 and 20 EMAs haven't recently crossed, as long as the broader trend (9 EMA above/below 20 EMA) holds.
• Visuals: Dotted lines project the Entry, Stop Loss, and Take Profit levels into the future for easy visualization.
• Alerts: Built-in alert conditions for instant notifications on a valid "9 EMA retrace".
Peace -
It’s a simple indicator, yet common in the Trading Community. Peace.
Here is the Luxalgo – Quant description:
MFB - 9 EMA Retrace Setup
This indicator identifies a trend-following pullback strategy based on the 9 and 20 Exponential Moving Averages (EMAs).
How it works:
1. The Setup: The script waits for a directional shift, signaled by the 9 EMA crossing the 20 EMA.
2. The Pullback (Retrace): Once a trend is established, it waits for price to pull back and touch or cross the 9 EMA.
3. The Trigger: A signal is generated when a candle finally closes beyond the 9 EMA in the direction of the trend (e.g., closing above the 9 EMA for longs).
4. Risk Management: Upon a valid signal, the indicator draws a projected trade setup directly on the chart. It places a Stop Loss at the 20 EMA and projects a Take Profit based on a customizable Risk/Reward ratio (default 1:2).
Features:
• Continuation Mode: An optional setting allows you to take retracements even if the 9 and 20 EMAs haven't recently crossed, as long as the broader trend (9 EMA above/below 20 EMA) holds.
• Visuals: Dotted lines project the Entry, Stop Loss, and Take Profit levels into the future for easy visualization.
• Alerts: Built-in alert conditions for instant notifications on a valid "9 EMA retrace".
Peace -
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。