M0rty

Awesome Heikin Ashi [Morty]

This indicator uses Heikin Ashi candles and two EMAs to help you follow the trend and enter the trade. Heikin Ashi candles help to smooth the price and EMAs are used to detect trend. The default parameter of EMA is EMA10 and EMA20. You can use it at any timeframe. You should always adjust the EMA length according to different timeframes.

Features:
- Highlight background based on two EMAs
- Adjustable EMA length
- Adjustable Label size
- Show entry and exit signal labels
- Show stoploss price
- You can choose Long only or Short only or both signals
- Alert functions for notification


NOTE: If you use this signal to enter a trade, make sure the candle is close and enter in the next candle.


Open-source script

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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Kommentarer

this is great! thank you for your work. would you use this as a stand alone strategy or in combination with other indicators to filter entries?
+1 Svara
Hi Sir, can make it a strategy to backtest its results ?
Svara
Hi there, could this be used to fire up a bot using the alerts? If so which of the entry and exit triggers would make more sense? Thanks for sharing this indicator!
Svara
M0rty mooosT
@mooosT, I use the entry signal to enter the trade and exit signal to take profit. If you want to follow the strong trend and take huge profit, hold the position and use the reversal enter signal to close the position. Always use this indicator in a strong trend. Not financial advice.
Svara
mooosT M0rty
@M0rty, In the TV alert conditions I see Crossing up/down, Entering channel, Moving up/down and bunch of other conditions. Which one would that be? Thanks!
Svara
mooosT mooosT
Also, what time frame works best Thanks!
Svara
M0rty mooosT
@mooosT, Use "Any Alert() function call"
Svara