Turtle Trade Channels Indicator with EMA

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Turtle Trade Channels Indicator with EMA (TuTCI + EMA)

<p>This custom indicator combines the classic Turtle Trading Channel strategy with an Exponential Moving Average (EMA) filter to provide clear entry and exit signals, as well as trend direction guidance.</p>

Features:
* Turtle Channels: The indicator calculates the upper and lower Turtle Trading Channels based on the highest and lowest values over a user-defined period (Entry Length for the channel).
* Entry/Exit Signals: Alerts you to potential buy and sell opportunities with visual signals on the chart.
* Long Entry: When the price crosses above the upper channel.
* Short Entry: When the price crosses below the lower channel.
* Long Exit: When the price breaks below the exit line.
* Short Exit: When the price breaks above the exit line.
* EMA Filter: A 50-period Exponential Moving Average (EMA) is included to identify the overall trend. The background color turns green when the price is above the EMA (bullish trend) and red when the price is below the EMA (bearish trend).
* Highlighter: Optional background highlighting for the most relevant signals, such as when the price crosses the upper or lower Turtle Channel. This feature helps to easily identify key market movements.
* Visual Customization: Customize the EMA length, Entry/Exit lengths, and toggle signals and highlighting to suit your preferences.

How It Works:
The Turtle Trade Channels are designed to capture breakouts by identifying key price levels (highest high and lowest low) over a specified period. By combining this strategy with an EMA, the indicator ensures trades are aligned with the broader trend, increasing the probability of successful trades.
* Uptrend: When the price is above the EMA, the indicator considers the trend to be bullish, and it highlights long entry signals.
* Downtrend: When the price is below the EMA, the trend is considered bearish, and short entries are emphasized.

Customization:
* Entry Length: Adjusts the period for calculating the Turtle Channel's entry levels.
* Exit Length: Defines the period for calculating the exit levels.
* EMA Length: The period for the Exponential Moving Average (default is set to 50).
* Show Entry/Exit Signals: Toggle the visibility of entry/exit signals on the chart.
* Highlighter On/Off: Toggle background highlighting for key signals.

<p>This indicator is suitable for traders who follow trend-following strategies, particularly those influenced by the Turtle Trading methodology, and wish to use an EMA filter for better trend confirmation.</p>

Use Cases:
* Trend-following traders looking for clear entry/exit signals.
* Breakout traders using the Turtle Trading concept to identify price breakouts.
* Swing traders who want to incorporate trend analysis with price levels.

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Turtle Trade Channels Indicator with EMA (TuTCI + EMA)

This custom indicator combines the classic Turtle Trading Channel strategy with an Exponential Moving Average (EMA) filter to provide clear entry and exit signals, as well as trend direction guidance.

Features:
* Turtle Channels: The indicator calculates the upper and lower Turtle Trading Channels based on the highest and lowest values over a user-defined period (Entry Length for the channel).
* Entry/Exit Signals: Alerts you to potential buy and sell opportunities with visual signals on the chart.
* Long Entry: When the price crosses above the upper channel.
* Short Entry: When the price crosses below the lower channel.
* Long Exit: When the price breaks below the exit line.
* Short Exit: When the price breaks above the exit line.
* EMA Filter: A 50-period Exponential Moving Average (EMA) is included to identify the overall trend. The background color turns green when the price is above the EMA (bullish trend) and red when the price is below the EMA (bearish trend).
* Highlighter: Optional background highlighting for the most relevant signals, such as when the price crosses the upper or lower Turtle Channel. This feature helps to easily identify key market movements.
* Visual Customization: Customize the EMA length, Entry/Exit lengths, and toggle signals and highlighting to suit your preferences.

How It Works:
The Turtle Trade Channels are designed to capture breakouts by identifying key price levels (highest high and lowest low) over a specified period. By combining this strategy with an EMA, the indicator ensures trades are aligned with the broader trend, increasing the probability of successful trades.
* Uptrend: When the price is above the EMA, the indicator considers the trend to be bullish, and it highlights long entry signals.
* Downtrend: When the price is below the EMA, the trend is considered bearish, and short entries are emphasized.

Customization:
* Entry Length: Adjusts the period for calculating the Turtle Channel's entry levels.
* Exit Length: Defines the period for calculating the exit levels.
* EMA Length: The period for the Exponential Moving Average (default is set to 50).
* Show Entry/Exit Signals: Toggle the visibility of entry/exit signals on the chart.
* Highlighter On/Off: Toggle background highlighting for key signals.

This indicator is suitable for traders who follow trend-following strategies, particularly those influenced by the Turtle Trading methodology, and wish to use an EMA filter for better trend confirmation.

Use Cases:
* Trend-following traders looking for clear entry/exit signals.
* Breakout traders using the Turtle Trading concept to identify price breakouts.
* Swing traders who want to incorporate trend analysis with price levels.