hull ribbon pratap

1. Purpose:
This script implements a Hull Moving Average (HMA) ribbon-based trading strategy with additional conditions from RSI and multi-timeframe EMA comparisons.

2. Key Components:
Hull Moving Averages Calculation:
Computes six different HMAs with varying lengths (50, 55, 60, 65, 70, 50).
Uses Weighted Moving Average (WMA) instead of the traditional Hull formula.
Some HMA calculations are fetched from a higher timeframe (45-minute).
Color Coding Hull Trend:
The script compares current and previous Hull values to determine trend direction.
Green (Uptrend) if current HMA > previous HMA.
Red (Downtrend) if current HMA < previous HMA.
3. Entry & Exit Conditions:
Buy Conditions:
Hull Ribbon Trend:
Close price is above all calculated Hull moving averages.
Close is greater than the previous candle's high.
Multi-Timeframe EMA Confirmation:
EMA(330) of 2-minute timeframe is greater than 1-minute timeframe.
RSI Condition:
RSI(9) > its 9-period SMA (indicates strength).
Sell Conditions:
Hull Ribbon Trend:
Close price is below all calculated Hull moving averages.
Multi-Timeframe EMA Confirmation:
EMA(330) of 3-minute timeframe is lower than 1-minute timeframe.
4. Trade Execution:
Long Entry ("Buy") → When Buy Zone & Buy Hull Close conditions are met.
Exit ("Close Buy") → When Sell Zone & Sell Hull Close conditions are met.
Target Price: 1% above the entry price.
5. Visuals & Alerts:
Plots Hull values and colors them based on trend.
Background Colors:
Green → Buy zone
Red → Sell zone
Purple/Aqua → Hull crossovers
Alerts for Buy/Sell Crossovers.
6. Notes & Additional Features:
The script was intended to have stop-loss and take-profit logic, but they are commented out.
Uses multi-timeframe analysis (EMA from different timeframes).
The strategy runs on TradingView’s built-in backtesting engine.
Conclusion:
This is a trend-following strategy using Hull Moving Averages, RSI, and multi-timeframe EMA confirmation to identify buy and sell opportunities. It plots signals and background colors for easy trend visualization. 🚀 Let me know if you need any modifications or optimizations!