50 EMA Alarm with Proximity Notification

4 дня назад

This script calculates the 50-period Exponential Moving Average (EMA) and provides alerts for two conditions:

1. EMA Cross: When the price crosses the 50 EMA from above or below.
   
2. Proximity Alert: When the price approaches the 50 EMA within a customizable threshold (e.g., 0.5% of the EMA value).
   

Features:

• 50 EMA Calculation: Displays the 50 EMA as a blue line on the chart for trend analysis.
  
• Proximity Highlight: Changes the chart's background color to green when the price is within the defined proximity threshold
  

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Alerts for Both Conditions:

• "EMA Cross" alert is triggered when the price crosses the EMA.
  
• "Proximity Alert" is triggered when the price approaches the EMA.
  
  

How It Works:

• The EMA is calculated using TradingView's ta.ema() function.
  
• A proximity threshold is defined as a percentage of the EMA value (default: 0.5%).
  
• The script checks if the price is within the proximity range using math.abs(close - ema50) < threshold.
  
• Alerts are sent for both conditions using the alert() function, ensuring traders never miss a key event.
  

Usage:

1. Add the script to your chart.
   
2. Customize the proximity threshold in the code if necessary.
   
3. Set up alerts for the two conditions (EMA Cross and Proximity Alert).
   
4. Use the visual background color change as a quick indicator for proximity.
   

Ideal For:

• Traders who rely on EMA-based strategies for scalping or trend-following.
  
• Those looking for a tool to notify them of key EMA interactions without constantly monitoring the chart.