CALL/PUT Signals with Flexible EMA By VIKKAS VERMA
CALL/PUT Signals with Flexible EMA By VIKKAS VERMA
**Overview** This indicator is designed to identify indecisive market conditions and generate CALL (Buy) and PUT (Sell) signals based on candle patterns and the trend of a user-defined Exponential Moving Average (EMA). By filtering signals with EMA trends, it helps traders make more informed entry decisions while avoiding trades against the prevailing market direction.
**Key Features**
1. **Indecisive Candle Detection** - A candle is considered **indecisive** if its body is small compared to its overall range (high - low). - These candles indicate market hesitation, often preceding strong moves. - Such candles are visually marked with a gray background for easy identification.
2. **Candle Classification** - **Green Candle**: Open price equals the low of the candle. - **Red Candle**: Open price equals the high of the candle. - **Black Candle**: Any other type of candle that doesn’t fit the above two conditions.
3. EMA-Based Trend Confirmation - A **user-defined EMA (default: 9-period) is plotted on the chart. - **Green EMA**: EMA is rising (bullish trend). - **Red EMA**: EMA is falling (bearish trend). - **Blue EMA**: Neutral or flat movement.
4. CALL & PUT Signal Logic - CALL Signal (Buy): Appears when a black candle is followed by a green candle, provided the EMA is not falling. - **PUT Signal (Sell)**: Appears when a **black candle** is followed by a **red candle**, provided the EMA is not rising. - Signals are displayed as arrows on the chart (green for CALL, red for PUT).
5. **Visual Enhancements** - The indicator colors candles based on their relation to the EMA trend. - EMA color changes help traders identify trend shifts. - Indecisive candles are highlighted for additional context.
How to Use This Indicator
- Trend Confirmation: Use the EMA’s color to gauge market direction before taking trades. - Entry Points: Look for CALL and PUT signals after indecisive candles in alignment with EMA trends. - Risk Management: Use this indicator alongside other technical tools for better confirmation.
This indicator is useful for traders looking for a structured approach to identify potential reversals and momentum shifts while avoiding trades against the trend.
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