OPEN-SOURCE SCRIPT
OpenCipher A
OpenCipher A is an open-source and free to use Overlay.
Features:
EMA Ribbons
The EMA RIbbons are a set of exponential moving averages. Blue and white ribbons = uptrend, gray ribbons = downtrend. The ribbons can act as support in uptrends and as resistance in downtrends.
Lengths and source of the ribbons are customizable.
Symbols
Usage
Treat the symbols as signs that your attention might be required and don't trade based on them.
Features:
- EMA Ribbons (Lengths: 5, 11, 15, 18, 21, 25, 29, 33)
- Symbols ("Be careful" and "attention required" signals)
EMA Ribbons
The EMA RIbbons are a set of exponential moving averages. Blue and white ribbons = uptrend, gray ribbons = downtrend. The ribbons can act as support in uptrends and as resistance in downtrends.
Lengths and source of the ribbons are customizable.
Symbols
- Green Dots: The green dot is a bullish symbol that appears whenever the EMA 11 crosses over EMA 33.
- Red Cross: The red cross is a bearish symbol that appears whenever the EMA 5 crosses under EMA 11.
- Blue Triangle: The blue triangle marks a possible trend reversal that appears whenever the EMA 5 crosses over EMA 25 while EMA 29 is below EMA 33.
- Red Diamond: The red diamond is a bearish symbol that marks a potential local top whenever a bearish wavecross occurs (fast wave crosses under slow wave).
- Yellow X: The yellow X is a warning signal that appears whenever a bearish wavecross occurs while the slow wave of the wavetrend is below -40 and the moneyflow is in the red (below zero).
- Blood Diamond: The blood diamond is a bearish symbol that highlights whenever the red diamond and the red cross appear on the same candle.
Usage
Treat the symbols as signs that your attention might be required and don't trade based on them.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.