OPEN-SOURCE SCRIPT

EMA Bounce

This indicator will:

signal a GREEN triangle if a candle opens below the EMA and closes above the EMA
signal a RED triangle if the candle opens above the EMA and closes below the EMA

Strategy:

First identify the trend (stick to one timeframe, I use 4h)
If in an UP trend, then go LONG on GREEN triangles, do not trade red triangles as that would be a counter-trend trade (I am placing buy stops at the HIGH of the signal candle)
If in a DOWN trend, then go SHORT on RED triangles, do not trade on green triangles as that would be a counter-trend trade (I am placing sell stops at the LOW of the signal candle)
Default EMA is set to 50, you can change to a higher number for less signals or a lower number for more signal

NOTE: You can set up alerts so that you don't have to watch charts and wait for the signals.

If you find this indicator useful, tips and donations are always appreciated. Venmo @rick-munoz :)

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