EMA with Vol

12 jam lalu

Input Parameters:

len9: Length for the shorter EMA (default is 9).
len20: Length for the longer EMA (default is 20).
src: Data source for the EMAs, set to the closing price.
volumeThreshold: Volume multiplier threshold to check if the current volume is greater by a specific percentage compared to the previous candle.
Calculating EMAs:

ema9: The 9-period EMA.
ema20: The 20-period EMA.
Plotting EMAs:

The script plots ema9 in blue and ema20 in black.
Identifying Crossovers and Crossunders:

bullishCross: A crossover event where ema9 crosses above ema20.
bearishCross: A crossunder event where ema9 crosses below ema20.
Volume Condition:

Checks if the current volume is greater than the specified multiplier times the previous volume.
Generating Buy and Sell Signals:

strongBuySignal: A strong buy signal occurs when there's a bullish crossover, and the volume condition is met.
strongSellSignal: A strong sell signal occurs when there's a bearish crossunder, and the volume condition is met.
Plotting Buy and Sell Arrows:

Upward green arrows indicate strong buy signals.
Downward red arrows indicate strong sell signals.
Potential Improvements or Additions:
Customization: You could allow users to adjust the colors or other settings for flexibility.
Alerts: Adding alerts to notify traders when strong buy or sell signals occur.
Filtering Noise: Consider adding additional filters (like using higher time frames or ATR filters) to reduce false signals.