This indicator is designed for traders seeking refined entry and exit signals based on precise EMA crossovers. By leveraging dynamically calculated average high and low thresholds over a customizable lookback period, this tool enhances decision-making by filtering out noise and providing clear, actionable signals.
Key Features:
Dynamic Thresholds: Calculates average high and low values over a specified number of candles, ensuring adaptability to market conditions.
Refined Signal Logic: Generates buy signals when the EMA crosses above the average low, and sell signals when the EMA crosses above the average high or drops below the average low. This ensures logical progression and avoids redundant signals.
Customizable Settings:
Lookback period for high-low averages.
EMA period for precise crossover calculation.
Signal appearance: Choose between arrows or labels for better chart visibility.
Adjustable signal colors to match your preferences.
Alerts: Set alerts for buy and sell signals, enabling you to stay updated in real-time.
How It Works:
The indicator calculates average high and low prices over a user-defined number of candles.
An EMA is plotted based on the closing price and your selected period.
Buy and sell signals are triggered based on how the EMA interacts with the dynamic high and low levels:
Buy: EMA crosses above the average low and no active buy signal exists.
Sell: EMA crosses above the average high or below the average low after a buy signal.
Visual Guidance:
Plots the average high (red), average low (green), and the EMA line (blue) for clear visualization of key levels and price interactions.
Signal markers are plotted directly on the chart for quick identification of potential trades.
Use this indicator to enhance your trading strategy, reduce noise, and focus on high-probability setups.