BTC EMA-VWAP Gap Signals (Cooldown Version)

This script is an indicator designed to generate bullish and bearish signals based on the relationship between two technical tools. It evaluates the market only after each candle closes, and then plots visual markers on the chart whenever the required conditions are satisfied.

The indicator also implements a cooldown system, ensuring that once a bullish or bearish signal is generated, the same type of signal cannot appear again for a user-defined duration.

⭐ User Inputs
1. EMA Length

Controls the period used for calculating the Exponential Moving Average.

Default value: 8

You can increase or decrease this to capture slower or faster short-term trends.

2. Bear Gap (Points)

A threshold value affecting when a bearish signal should appear.

Default: 500

You can increase or reduce this depending on how strict or aggressive you want bearish signals to be.

3. Bull Gap (Points)

A threshold for triggering a bullish signal.

Default: 800

A higher number means signals will appear less often, only in stronger situations.

4. Cooldown Duration (Hours)

Determines how long the script must wait before generating another signal of the same type.

Default: 4 hours

Works independently for bullish and bearish signals:

A bearish signal blocks only bearish signals for the cooldown period.

A bullish signal blocks only bullish signals for the cooldown period.