Multiple Indicator 50EMA Cross Alerts
Apr 26, 2022
The Multiple Indicator 50EMA Cross Alerts tool provides a comprehensive multi-symbol screener dashboard that monitors EMA crosses, price action, and the True Strength Index (TSI) across up to 19 user-defined assets.
Usage
The indicator displays a table output containing the symbol name, current price, TSI value, and EMA cross status. It is primarily used to identify trend reversals or momentum shifts across several currency pairs or assets simultaneously without switching charts.
- EMA Cross: A bullish signal occurs when the price crosses above the 50 EMA, while a bearish signal occurs when the price crosses below the 50 EMA.
- TSI Interpretation: Look for positive values to confirm bullish momentum and negative values for bearish momentum. Values exceeding +/- 20 (or your custom setting) can indicate overbought or oversold conditions.
- PVSRA Candles: If enabled, the tool highlights "vector" candles based on volume-spread analysis, helping users identify high-volume institutional activity.
Details
This script is a specialized screener designed for efficiency. It calculates the Exponential Moving Average (EMA) and the True Strength Index (TSI) for every symbol selected in the inputs. The TSI is double-smoothed to filter out market noise, providing a clearer picture of momentum. Additionally, it integrates PVSRA (Price, Volume, Spread, Recovery, Analysis) logic to color candles based on volume climax levels (e.g., 150% or 200% above average).
Settings
Options
- Colored candle?: Toggles PVSRA volume-based candle coloring.
- Confirmed Candle Only: Determines if alerts and table updates wait for the bar to close or trigger on the current unconfirmed price.
- Choose EMA: Sets the length for the moving average used in crossing calculations (default is 50).
- EMA cross alert: Enables alerts for price crossing the selected EMA.
- TSI alert: Enables alerts for TSI reaching overbought or oversold levels.
- TSI Overbought/Oversold level: Customizes the threshold for TSI momentum alerts.
PVSRA Colors
- Vector Colors: Customize colors for various volume climax intensities (Red, Green, Violet, Blue).
- Regular Candle Colors: Customize colors for standard bull and bear candles.
Symbols
- S01 - S19: Allows the user to input specific ticker symbols to be monitored in the screener table.
FAQ
How do I interpret the colors in the screener table? The table uses color coding to show if the price is currently above or below the EMA and indicates the direction of the most recent cross (bullish or bearish).
Can I use this for crypto or stocks? Yes, you can change the symbols in the "Symbols" section of the settings. For crypto, it is recommended to increase the TSI Overbought/Oversold levels to account for higher volatility.
How do I get access to Multiple Indicator 50EMA Cross Alerts? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.
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