EMA close to lows and Highs

• 07/01/2023 at 11:24 AM #217109
  Aragorna

  Goodmnorning to everyone,

  I need a help about an indicator I’m trying to build.I’d like to code two EMAs that are the closest possibile to the lows and the highs of X candles before (that don’t overlap the price), and a middle line between this two. How can I do?

  thank’s in advance

  Alessio

  

  Aragorna

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  07/01/2023 at 12:13 PM #217112
  JS

  Hi,

  Something like this…

   

  EMA High-Low-Middle

  x=20 // Period = x-Candles EMAHigh=ExponentialAverage[x](High) EMALow=ExponentialAverage[x](Low) EMAMiddle=(EMAHigh + EMALow)/2 Return EMAHigh as "EMAHigh" coloured("Green"), EMALow as "EMALow" coloured("Red"), EMAMiddle as "EMAMiddle" coloured("Blue")

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  x=20 // Period = x-Candles EMAHigh=ExponentialAverage[x](High) EMALow=ExponentialAverage[x](Low)   EMAMiddle=(EMAHigh + EMALow)/2   Return EMAHigh as "EMAHigh" coloured("Green"), EMALow as "EMALow" coloured("Red"), EMAMiddle as "EMAMiddle" coloured("Blue")

  

  JS

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  07/01/2023 at 7:09 PM #217140
  phoentzs

  A little tip… try using open and close instead of high and low. 😉

  

  phoentzs

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  07/03/2023 at 8:32 AM #217162
  Aragorna

  Hi JS, thank you for your answer. I’m looking for a different approach. I’d like to consider the argument of the EMA as something to calculate, for example, every 5 or 10 bars, not an input at the beginning. The goal is to stay closer possible to the lows (or highs, it depends on the case) of X bars, without crossing the price ( keeping the lowest distance between EMA and Price, the leastest possible). my idea is , on a high number of bars it’ll stay close to the swing lows (for example 500 bars), on short number of candles it’ll stay close to the lows. Hope to be clear

  Alessio

  

  Aragorna

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  07/03/2023 at 9:06 AM #217164
  JS

  Hi,

  You could try something with the EMA plus the standard deviation…

  Stay Close

  SCH=ExponentialAverage[10](High)+Std[10](High) SCL=ExponentialAverage[10](Low)+Std[10](Low) Return SCH as "Stay Close High" coloured("Green")Style(DottedLine,3), SCL as "Stay Close Low" coloured("Red")Style(DottedLine,3)

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  SCH=ExponentialAverage[10](High)+Std[10](High) SCL=ExponentialAverage[10](Low)+Std[10](Low) Return SCH as "Stay Close High" coloured("Green")Style(DottedLine,3), SCL as "Stay Close Low" coloured("Red")Style(DottedLine,3)

  

  JS

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  07/04/2023 at 7:54 PM #217273
  JS

  I meant, of course:

  SCL=ExponentialAverage[10](Low) – Std[10](Low)

  (not +)

   

  

  JS

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  07/04/2023 at 8:18 PM #217275
  JS

  You can turn this into a “CounterTrend” trading system…

   

  Stay Close CounterTrend TS

  DefParam CumulateOrders=False SCH=ExponentialAverage[PeriodHigh](High)+Std[PeriodHigh](High) SCL=ExponentialAverage[PeriodLow](Low)-Std[PeriodLow](Low) If High > SCH then SellShort 1 contract at Market EndIf If Low < SCL then Buy 1 contract at Market EndIf

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  DefParam CumulateOrders=False   SCH=ExponentialAverage[PeriodHigh](High)+Std[PeriodHigh](High) SCL=ExponentialAverage[PeriodLow](Low)-Std[PeriodLow](Low)   If High > SCH then SellShort 1 contract at Market EndIf   If Low < SCL then Buy 1 contract at Market EndIf

  

  JS

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