OPEN-SOURCE SCRIPT
Tipsy EMA
Tipsy EMA
v0.2a
Coded by vaidab.
A simple strategy to buy dips in an uptrend.
How to use:
- buy on trend when price retraces to the orange "buy" line and compound orders
- sell when price reaches red line (stop loss) or at 💰 (take profit)
Note that you can reverse trade on the 💰 sign for a short scalp / day trade.
Uptrend: green/red background. Danger zone: orange bg. No go zone: no bg.
Potential buys (in a clear trend): 55, 100, 200 EMA touches and
fibo retracements to .382 and .618.
Potential stop loss: when price breaks the 200 EMA (marked by a red line).
Exit signs: opposite trend divergences (RSI).
Take profit: EMA 55 crossing down EMA 100.
Use it in confluence with market structure. E.g. If 200 EMA ligns up with
past market structure, if there are whole numbers or if there's a monthly level.
Tested BTCUSDT D, 4H
v0.2a
Coded by vaidab.
A simple strategy to buy dips in an uptrend.
How to use:
- buy on trend when price retraces to the orange "buy" line and compound orders
- sell when price reaches red line (stop loss) or at 💰 (take profit)
Note that you can reverse trade on the 💰 sign for a short scalp / day trade.
Uptrend: green/red background. Danger zone: orange bg. No go zone: no bg.
Potential buys (in a clear trend): 55, 100, 200 EMA touches and
fibo retracements to .382 and .618.
Potential stop loss: when price breaks the 200 EMA (marked by a red line).
Exit signs: opposite trend divergences (RSI).
Take profit: EMA 55 crossing down EMA 100.
Use it in confluence with market structure. E.g. If 200 EMA ligns up with
past market structure, if there are whole numbers or if there's a monthly level.
Tested BTCUSDT D, 4H
Open-source script
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