EMA Crossover Indicator with UTC Time Filter and Profit Labels

The PineScript code provided is an indicator for TradingView that implements two user-defined Exponential Moving Averages (EMAs) with default periods of 5 and 9, generates buy and sell signals at EMA crossovers, filters these signals based on a user-specified UTC time window, and adds labels when the price moves 100 points in the profitable direction from the entry point. Below is a detailed description of the script's functionality, structure, and key components:

Overview

Purpose: The indicator plots two EMAs on the chart, identifies crossover points to generate buy and sell signals, restricts signals to a user-defined UTC time range, and labels instances where the price moves 100 points in the profitable direction after a signal.

• Platform:

Written in PineScript v5 for TradingView.

• Indicator Type:

Overlay indicator (plotted directly on the price chart).

Key Features

1. User-Defined EMAs:
   

The script calculates two EMAs based on user inputs:

Short EMA: Default period is 5 bars.

• - **Long EMA**:

Default period is 9 bars.

Users can adjust these periods via input settings (minimum period of 1).

2. Crossover Signals:

Buy Signal: Triggered when the Short EMA crosses above the Long EMA
( ta.crossover ).

Sell Signal: Triggered when the Short EMA crosses below the Long EMA
( ta.crossunder ).

Labels are added at these crossover points:

"BUY" label (green, positioned below the bar) for bullish crossovers.

"SELL" label (red, positioned above the bar) for bearish crossovers.

3. UTC Time Filter:

Users can specify a UTC time window during which signals are valid.

Inputs include:

Start Hour and Minute (default: 00:00 UTC).

End Hour and Minute (default: 23:59 UTC).

The isTimeInRange() function checks if the current bar's timestamp falls within this
window, handling both same-day and overnight ranges (e.g., 22:00 to 02:00).

Only crossovers occurring within the specified time window generate signals and
labels.

4. Profit Tracking (+100 Points):

The script tracks the price movement after a buy or sell signal:

For a buy signal, a "+100" label is added if the price increases by 100 points
or more from the entry price.

For a sell signal, a "+100" label is added if the price decreases by 100 points
or more from the entry price.

The points threshold is user-configurable (default: 100.0 points).

Labels are color-coded (green for buy, red for sell) and placed only once per signal to
avoid chart clutter.

5. Visual Elements:

EMAs: Plotted on the chart (Short EMA in blue, Long EMA in red).
Labels:

Buy/Sell crossover labels are placed at the low/high of the bar, respectively.

"+100" labels are placed at the low (for buy) or high (for sell) of the bar where
the profit threshold is met.

Code Structure

Indicator Declaration:

indicator("EMA Crossover Indicator with UTC Time Filter and Profit Labels",
overlay=true): Defines the indicator name and sets it to overlay on the price chart.

Inputs:
emaShortPeriod and emaLongPeriod: Integer inputs for EMA periods
(defaults: 5 and 9).

startHour, startMinut, endHour, endMinute: Integer inputs for UTC time window
(defaults: 00:00 to 23:59).

pointsThreshold: Float input for the profit target (default: 100.0 points).

EMA Calculations:

emaShort = ta.ema(close, emaShortPeriod): Computes the Short EMA using the
closing price.
emaLong = ta.ema(close, emaLongPeriod): Computes the Long EMA.

Time Filter Function:

isTimeInRange(0: Converts the current bar's UTC time and user inputs to minutes,
then checks if the current time is within the specified range. Handles overnight
ranges correctly.

State Management:

Variables: entryPrice (stores signal entry price), isBuySignal and isSellSignal (track
active signal type), `profitLabelPlaced` (prevents multiple profit labels).

Reset on new signals to prepare for the next trade.

Signal Detection and Labeling:

Detects crossovers using ta.crossover and ta.crossunder.

Places "BUY" or "SELL" labels if the crossover occurs within the UTC time window.

Monitors price movement post-signal and places a "+100" label when the threshold is
met.

Usage
Setup: Add the indicator to a TradingView chart. Adjust EMA periods, UTC time
window, and points threshold via the indicator settings.

Output:

Two EMA lines (blue and red) appear on the chart.

"BUY" and "SELL" labels appear at valid crossover points within the UTC time window.

"+100" labels appear when the price moves 100 points in the profitable direction after
a signal.
Applications: Useful for traders who want to:

Follow EMA crossover strategies.

Restrict trading signals to specific time sessions (e.g., London or New York session).
- Identify when a trade reaches a specific profit target.

Notes

Points Definition: The 100-point threshold is in the same units as the asset's
price (e.g., $100 for stocks, 100 pips for forex). Adjust `pointsThreshold` for
different assets.

Time Zone: Signals are filtered based on UTC time, ensuring consistency across
markets.

Label Management: The script ensures only one "+100" label per signal to keep
the chart clean.

Limitations: The profit label is triggered only once per signal and does not
account for multiple hits of the threshold unless a new signal occurs.

If you need further clarification or want to add features (e.g., alerts, additional profit levels, or different time filters), let me know!