$99.00

The double EMA combines two Exponential Moving Averages, one with a slow and one with a faster period.
When the EMA’s cross eachother it is seen as a change in trend. The double EMA also shows increase or decrease of momentum.

This version has been extended with DMI and SAR to filter trading  signals.

 

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Double EMA settings

This is an enhanced version of a double EMA indicator, which can be combined with ADX/DMI and SAR to filter the trading signals.
The ADX/DMI uses the standard 14 periods, and the SAR uses the standard settings of 0.02/0.2/0.02.

The signals are basically the same, but they are filtered afterwards based on ADX/DMI and SAR signals.

Alerts

  • When the fast EMA crosses the slow EMA
  • When the price penetrades both EMA’s
  • When the Donchian becomes Strong (if enabled)
  • When the DMI and SAR become Strong (if enabled)

Signals

Strong LongWhen the Fast EMA is above the Slow EMA and rising, or when a candle breaks above both EMA’s (in any order) from below
Weak LongWhen the Fast EMA is above the Slow EMA and falling, while price is still above the Slow EMA
NoneWhen none of the other conditions are valid (this does happen, for instance when the Fast is still above Slow, but a bullish bar is below Slow)
Weak ShortWhen the Fast EMA is below the Slow EMA and rising, while price is still below the Slow EMA
Strong ShortWhen the Fast EMA is below the Slow EMA and falling, or when a candle breaks below both EMA’s (in any order) from above

Settings

Alert at candle breakIf checked there will be an extra alert send when price breaks (back) over the Fast EMA (bounce back from a pullback)
FastThe period for the Fast EMA
SlowThe period for the Slow EMA
Use Donchian midYou can enter a Donchian period here, which then will plot markers when the Fast EMA crosses the Donchian Midline.
This is a visual clue only and doesn’t change the signals
Use SAR and DMIIf checked the signals are filtered afterwards based on ADX/DMI and SAR signals.
Also the candles will be colored cyan when the ADX is falling or flat.
PlotsThe styles of the indicator’s plots
Candle Break ColorThe background color for bars on the chart that break back over the Fast EMA.
The color is only applied when the checkbox for ‘Alert at candle break’ is ticked.
Show backgroundIf checked the background will be colored green or red dependant on the signals