OPEN-SOURCE SCRIPT
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MTF EMA Directional Bias -1hr and 4hr

615
A compact, fixed-position table (bottom-right corner) that shows the current slope direction of two higher-timeframe EMAs:

4H EMA 50 → direction over the last 2 bars (UP ↑, DOWN ↓, or FLAT ⏸)
1H EMA 21 → direction over the last 2 bars (UP ↑, DOWN ↓, or FLAT ⏸)

Background color logic:

Green → both 4H and 1H EMAs are sloping upward
Red → both 4H and 1H EMAs are sloping downward
Gray → mixed or flat directions (no confluence)

Additionally draws the actual 1H EMA-21 (purple) and 4H EMA-50 (red) as step-lines on the chart.
Notas de Lançamento
What this update does

This indicator shows the market’s trend direction using two higher-timeframe EMAs:

4-Hour EMA 50 → big picture trend

1-Hour EMA 21 → short-term trend

It compares each EMA to where it was a few candles ago to see if it is:

Going up

Going down

Or flat

Those directions are shown in the table on your chart.

How to read it

If both 4H and 1H are UP → the market is bullish

If both 4H and 1H are DOWN → the market is bearish

If they disagree → the market is mixed or choppy

The background color changes to show this:

Green = bullish

Red = bearish

Grey = no clear trend

The EMA lines on the chart are the same values used in the table.

What it’s for

This is not an entry signal.
It’s a direction filter — it tells you which side of the market you should be trading with.

Trade with the bias.
Avoid trades against it.

Simple, mechanical, no guessing.

Aviso legal

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