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 -
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, pembuat skrip ini telah menjadikannya sebagai sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Salut untuk penulisnya! Meskipun Anda dapat menggunakannya secara gratis, perlu diingat bahwa penerbitan ulang kode ini tunduk pada Tata Tertib kami.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, pembuat skrip ini telah menjadikannya sebagai sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Salut untuk penulisnya! Meskipun Anda dapat menggunakannya secara gratis, perlu diingat bahwa penerbitan ulang kode ini tunduk pada Tata Tertib kami.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.