Projecting EMAs 2.0
I realise that was unnecessary EMAs (in version 1), so I removed they.
The green zone is the original EMAs and the blank and gray ones are projected EMAs. I'm using this to know good entry points and the exits for scalping.
(work well only for well defined trends).
The green zone is the original EMAs and the blank and gray ones are projected EMAs. I'm using this to know good entry points and the exits for scalping.
(work well only for well defined trends).
study(title="Projecting EMAs", shorttitle="PEMA", overlay=true) ema2 = ema(close, input(100,"EMA 1")) ema1 = ema(close, input(200,"EMA 2")) dif = ema2- ema1 pEma1 = ema2 + dif pEma2 = ema2 + 2*dif pEma3 = ema2 + 3*dif pEma4 = ema2 + 4*dif ple1 = plot(ema1, title="EMA 1", color=gray) ple2 = plot(ema2, title="EMA 2", color=gray) fill(ple1,ple2,color=green,transp=80) plp1 = plot(pEma1, title="P Ema 1", color=gray) plp2 = plot(pEma2, title="P Ema 2", color=gray) plp3 = plot(pEma3, title="P Ema 3", color=gray) plp4 = plot(pEma4, title="P Ema 4", color=gray) fill(plp3,plp4,color=black,transp=70) fill(plp2,plp3,color=black,transp=80) fill(plp1,plp2,color=black,transp=90)