43 lines
1.3 KiB
Plaintext
43 lines
1.3 KiB
Plaintext
//@version=5
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indicator(title="Three ATR EMA Bands", shorttitle="3ATR EMA", overlay=true)
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// Inputs
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ema_length = input.int(21, "EMA Length", minval=1)
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atr_multiplier = input.float(3.0, "ATR Multiplier", step=0.1)
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show_bullish_arrows = input.bool(true, "Show Bullish Signals")
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// Calculate EMA
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ema = ta.ema(close, ema_length)
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// Calculate True Range
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tr = math.max(high - low, math.max(math.abs(high - nz(close[1])), math.abs(low - nz(close[1]))))
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// Calculate Bands
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upper_band = ema + (tr * atr_multiplier)
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lower_band = ema - (tr * atr_multiplier)
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// Bullish Signal Condition
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bullish_signal = close < ema and
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close[1] <= lower_band[1] and
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close > close[1]
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// Plotting
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plot(ema, "EMA", color=color.new(#00BFFF, 0))
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plot(upper_band, "Upper Band", color=color.new(#FFA500, 0), linewidth=2)
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plot(lower_band, "Lower Band", color=color.new(#32CD32, 0), linewidth=2)
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// Signal Arrows
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plotshape(show_bullish_arrows and bullish_signal ? low : na,
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"Bullish Signal",
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shape.triangleup,
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location.belowbar,
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color=color.new(#00FF00, 0),
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size=size.small)
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// Alerts
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alertcondition(bullish_signal, "Bullish Signal Triggered", "3ATR EMA Bullish Signal")
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// Strategy Calculations for Visual Reference
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if (bullish_signal)
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strategy.entry("Bullish", strategy.long)
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