Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

5 EMA High-Low Indicator Added to Interactive Charts

43 sec read

One more custom indicator added to our Interactive Live Charts and EOD Charting section. 5EMA(High-Low) simple trend following strategy that can be practiced on Hourly, EOD and Weekly timeframes to gauge the overall trend in the market.

5 EMA High Low
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Trading Rules

1)If the stock/Index trading above 5 EMA(High) – trend is expected to be up with support at 5 EMA(High)and next level of support comes near 5 EMA(low)

2)If the stock/Index trading in between 5 EMA(low) and 5 EMA(High) trend is expected to be rangebound between 5 EMA high and 5 EMA low with resistance at 5EMA(high) and suppport at 5 EMA (low)

3)If the stock/index trading below 5 EMA(low) then price is expected to be trend lower with resistance at 5 EMA low and next level of Resistance comes near 5 EMA(High)

How to Apply the Indicator?

1) Goto Interactive Charts (EOD or Live Charting Section)
2) Open your favorite stock/index/currency
3) Right click over the chart -> Insert Indicator
4) Search for EMA High-Low in the search box
5) Apply the Indicator
6) Provision has been provided to change the EMA value as shown below

EMA Settings

Tradingview Pinescript Code

https://gist.github.com/90ec31b225445fda7d21

Amibroker Users download 5EMA High-Low Strategy Code here

Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

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3 Replies to “5 EMA High-Low Indicator Added to Interactive Charts”

  1. hello ,

    its still not a complete trading system . there is no sl /targets of any kind .

    i request the site owner to also make a template ( afl ) for the same ( can be taken from turtles or any other variation there of ) esp on eod

    rgds

    sumit

    1. Sumit there are limitations in the charts at this point. The above indicator request is from couple of readers who are using this as a trading system. Especially the longer timeframe ones. Quite popular though to guage the long term trend. Not sure how traders could benefit from it but it make sense for investors.

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