The 3 EMA Shakeout is Matt Caruso's twist on the undercut and rally.
3 main criteria for this set up: ✅The stock undercuts a previous low ✅The stock then has 3 days to close above the 3 exponential moving average ✅An entry triggers the next day if the stock moves above the high of the day that closed above the 3ema
This indicator captures all three criteria and plots a label when a 3 EMA Shakeout has set up.
Indicator features: ✅ Identify 3 EMA Shakeout ✅ Draw a line at 3 EMA Shakeout entry pivot ✅ Plot swing high and low pivot prices on the chart (calculated the same way as Marketsmith) ✅ Plot the 3 ema
Options: ✅ Show or hide the 3ema ✅ Chose 3 ema color ✅ Show or hide swing high and low pivot points ✅ Chose 3 EMA Shakeout identifier color ✅ Show or hide entry line and chose it's color
ملاحظات الأخبار
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Update allows for choice of swing high and low text color
Please add an option for the 3 EMA Shakein that Matt uses as a sell signal also. Basically the opposite of this. Thanks!
JanDebiec
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Thank you Brandon, Your work, indicators ( your own ideas and some from Webby and other gurus) are one of the main reasons to use the TradingView platform.
Amphibiantrading
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@JanDebiec, It really is a great platform for sharing. Thank you so much, I really appreciate it.
abhijith4514
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This is great. I had created a scanner for Indian stocks based on Matt’s session on expectation breakers- especially 3Ema shakeout and mini coils. But those are not as perfect as it’s difficult to implement such conditions in a scanner. This is very good! Thank you.
Amphibiantrading
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@abhijith4514, No problem. Would be very powerful if you could scan for those conditions. Perhaps one day they will allow for screens based on custom indicators
snatu3
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Amphibiantrading, Thanks for sharing 3 EMA Shakeout indicator.