JustUncleL

Flying Buddha Inside Bars Indicator v1 by JustUncleL

Description:
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This indicator plots MAs and paints Triggered Alert Arrows base on Flying Buddha candle patterns.

The “Flying Buddha” Pattern is defined as:
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A candlestick chart with two moving averages: the 5 period exponential moving average (fast EMA ) and the 10 period simple moving average (slow SMA ), both applied to the closing price. The default “Flying Buddha” pattern is any candlestick which:
  • 1. Has a LOW above the fast EMA , when the fast EMA is above the slow SMA (a bearish “Flying Buddha”); or
  • 2. Has a HIGH below the fast EMA , when the fast EMA is below the slow SMA (a bullish “Flying Buddha”).

Alert Trigger:
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A Flying Buddha Alert is triggered on the first candle that is a non-flying Buddha candle after a Flying Buddha Pattern candle sequence. Flying Buddhas can optionally be filtered by InsideBars and PinBars.

The Alert Trigger is optionally filtered by the Directional MA (default=EMA 89), and/or by Minimum Sequence length of Flying Buddhas.

Moving Averages:
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You can select between 11 different types of moving averages, for each MA line in Flying Buddha MAs (fastMA and slowMA) and the Directional Filter MA:

JustUncleL
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In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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