OPEN-SOURCE SCRIPT
Updated Smart Trader Pro
Fully combined script with engulfing candles added.
Release Notes
The indicator uses four core tools: EMA 20 and EMA 50 for trend direction and crossover bias, RSI (14) as a momentum strength filter, ADX (14) to confirm trend strength above a threshold of 25, and VWAP as intraday institutional fair value. Higher timeframe key levels are plotted directly on the chart including daily, weekly, monthly, and yearly highs and lows, plus VWAP, giving traders immediate structural context without switching timeframes.The signal system turns the background green when EMA 20 is above EMA 50 and red when below. A STRONG label fires when ADX confirms a genuine trend above 25, and the signal label displays a live readout of RSI, ADX, EMA cross status, and VWAP position all in one place. Engulfing candle signals are filtered through RSI direction, EMA alignment, and engulf strength before a triangle arrow plots, ensuring only high-confluence setups appear. An optional trade box can be enabled to visualize TP and SL zones directly on signal bars at a default 2 to 1 reward to risk ratio. Alerts for both bullish and bearish engulfing signals are built in and inherit all active filters, recommended to trigger once per bar close.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.