TonyUX EMA Scalper - Buy / Sell

The TonyUX EMA Scalper - Buy / Sell indicator provides automated entry signals by identifying price crossovers with an Exponential Moving Average (EMA) while highlighting short-term support and resistance levels for scalping opportunities.

Usage

The TonyUX EMA Scalper - Buy / Sell is designed primarily for scalping strategies across various timeframes, though it is frequently applied to Forex markets. The tool assists traders in identifying potential trend reversals or momentum shifts when the price interacts with a central moving average.

• Buy Signals: A "Buy" arrow and label appear when the price crosses the EMA and the current close is higher than the previous bar's close, indicating upward momentum.
• Sell Signals: A "Sell" arrow and label appear when the price crosses the EMA and the current close is lower than the previous bar's close, indicating downward momentum.
• Support and Resistance: The script plots two horizontal levels based on recent price action. The red line represents the highest close of the previous 8 bars (resistance), while the green line represents the lowest close of the previous 8 bars (support). These lines can be used to set stop losses or take profit targets.

Details

The indicator utilizes a standard Exponential Moving Average (EMA) as the baseline for trend detection. The crossover logic is combined with a simple price action filter—comparing the current close to the previous close—to ensure the signal aligns with immediate candle momentum.

The support and resistance levels are calculated using the ta.highest and ta.lowest functions over a lookback period of 8 bars. This provides a dynamic "channel" that reflects very recent price extremes, which is often more relevant for high-frequency scalping than long-term historical levels. Original code by @tux on TradingView.

Settings

• Length: The lookback period for the Exponential Moving Average. The default is 20.
• Source: The price data used to calculate the EMA. The default is the closing price.

FAQ

Which markets is this indicator best suited for?

While the script was originally tested on Forex pairs, its logic is based on moving average crossovers and price extremes, making it applicable to any liquid market including stocks, indices, and crypto.

How are the Buy and Sell signals calculated?

Signals are triggered when the price crosses the EMA. A Buy signal is generated if the current price is higher than the previous bar, and a Sell signal is generated if the current price is lower than the previous bar.

How do I access TonyUX EMA Scalper - Buy / Sell?

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