The script will plot the following EMAs:
9, 21, and 200 EMAs (denoted as "fast", "slow", and "slowest")
The user will be able to choose what color and format the EMA will be in, as well as the periods
The indicator's primary purpose is to look for areas of potential momentum shifts (i.e. ema crossovers). However, this indicator is unique in that it will only give a signal if 2 other criteria are met along with "fast" and "slow" EMA crossover.
The criteria are as follows:
A "sell" signal will be generated if a bearish ema crossover occurs while 2 other confirming conditions are present. Alerts are configurable.
A "buy" signal will be generated if a bullish ema crossover occurs while while 2 other confirming conditions are present. Alerts are configurable
The script will also plot Previous HOD, previous LOD, PM high, PM low, and current high/current low levels.
There is also a functionality to allow the user decide what market hours alerts will be triggered during (i.e. 9:30-16:30)
Additionally, the script will plot up to 10 supply and demand zones
- Each can be enabled/disabled individually
Automatic support and resistance levels are built into the script and dynamically shift with price. Older levels levels leave a label so the user can manually mark them later.
There is an integrated take profit/stop loss with alerts. These can be disabled/enabled at will
Alerts for "buy" and "sell" signals are configurable for ANY time frame.
A chop filter has been added which can be toggled during choppy conditions to prevent false signals.
There is also an option to enable an EMA cloud (can adjust color and opacity)