Double EMA with stop loss indicator
This is an updated version of my previous stop loss script.
I've added a double EMA line and modified the stop as below;
In an uptrend....
1. a yellow dot will appear once it's time to move your stop. The yellow dot will display at the level of the stop loss. Place your stop 1 pip below the dot.
2. The yellow dot will only appear if a new higher low has formed and has been confirmed. Also the current candle must have broken the high of a previous bullish candle or the dot will not appear.
3. The dot will also appear if there is a likely reversal of the current trend.
Also works in downtrends.....
I've added a double EMA line and modified the stop as below;
In an uptrend....
1. a yellow dot will appear once it's time to move your stop. The yellow dot will display at the level of the stop loss. Place your stop 1 pip below the dot.
2. The yellow dot will only appear if a new higher low has formed and has been confirmed. Also the current candle must have broken the high of a previous bullish candle or the dot will not appear.
3. The dot will also appear if there is a likely reversal of the current trend.
Also works in downtrends.....
Versionsinformation:
Stop loss indicator improved over previous version plus lows and highs are now indicated