Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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

 
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 Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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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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