Ultimate EMA Screener

The Ultimate EMA Screener indicator provides a multi-asset visualization tool that monitors Exponential Moving Average (EMA) alignments across five different symbols simultaneously without affecting the main chart scaling.

Usage

The Usage section describes how the script can be used to track momentum across multiple currency pairs or assets. The indicator displays three distinct shapes to represent the trend status of each selected symbol:

• Square: Indicates that the five EMAs (5, 8, 13, 21, and 34) are perfectly stacked in bullish or bearish order, signaling strong trend momentum.
• Triangle: Appears when a specific crossover occurs (EMA 8 crossing EMA 21), signaling a potential trend shift or entry point.
• Dash (-): Indicates a neutral state where neither a full stack nor a specific crossover is currently active.

This tool is particularly useful for traders who want to maintain a "birds-eye view" of the market. For instance, if you are trading Forex, you can monitor five major pairs in a single sub-pane to identify which assets are exhibiting the cleanest trend profiles.

Details

The indicator utilizes the request.security function to fetch data for external assets. It calculates five EMAs for each symbol and evaluates their relative positions.

• Full Stack Logic: A bullish stack is defined as EMA 5 > 8 > 13 > 21 > 34. A bearish stack is the inverse.
• Visual Scaling: To display multiple symbols in one pane, the script normalizes the price action of each asset into a specific vertical "lane," preventing the different price scales of various assets (e.g., EURUSD vs. BTCUSD) from distorting the visual output.
• Efficiency: By using plotshape instead of labels for the historical data, the script bypasses the 50-label limit, allowing for a long history of trend signals across all monitored assets.

Settings

• Symbol 1 - 5: Allows you to input the ticker symbol for each of the five assets you wish to monitor.
• Colors: Green represents bullish alignment, Red represents bearish alignment, and Blue/Neutral represents transitional states.

FAQ

How do I track more than 5 symbols? To monitor more than 5 assets, you can simply add the script to your chart multiple times. For example, adding it twice allows you to track 10 unique symbols.

What specific EMA lengths are used in the calculation? The script uses the 5, 8, 13, 21, and 34 period Exponential Moving Averages to determine trend stacking and crossovers.

How can I access the Ultimate EMA Screener? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.