Double EMA Multi Colored

[Rollins]

A double EMA which changes color and displays an arraw when its trend changes. Thanks to Josh for showing how to draw a multi colored line.

Edit:v1.1 Arrows are now optional, and displacement for the arrows can be specified
Edit:v1.2 Arrows are drawn on the chart, dragging is impossible (thanks to Gumphie's ModHeikenAshi)
Edit:v1.3 adjusted for intra bar calculation
Edit:v1.4 changed to MA on MA

[edgeliner]

Rollins......

Could you please elaborate on the Double EMA? How can you apply this to a strategy? Thanks!

[Rollins]

Hey edgeliner, I'm currently not trading indicators but the person I copied the double EMA from used it to determine trend direction + momentum.

Problem might be that you could miss most of the move buy tops/sell bottoms, but depends mostly on your trading style.

This indicator is for charts because it uses 3 different plots, you can easily make your own double EMA for a strategy or use Ray's

[edgeliner]

Thanks Rollins!

[NinjaCustomer]

anyone have a regular EMA that will color itself depending on whether it is going up or down?

[NinjaTrader_Josh]

You can accomplish that by following this reference sample: http://www.ninjatrader-support.com/vb/showthread.php?t=3227

Change the SMA to EMA.

[Paul_J]

Hey Rollins,

Very nice indicator - I like it a lot. Is there a way to make the period
"user adjustable"?

Thanks,

[Rollins]

Paul,

I haven't looked at the old version in a long time, but imo setting the period has always been supported, so I'm not certain what kind of feature you are looking for. The latest version which I made a couple of months ago, got several improvements. However I'm not in a hurry to make any further updates, since I've got plenty of other more urgent/rewarding things to do.

Cheers

[Paul_J]

Hi Rollins,

Sorry for not being clearer - I can input a different period as long as the
number is over it's default which is 24, but it will not accept any number
below 24 (when I try - it resets back to 24).

I'm presently using NT version 6.5 but the same thing happens even with
NT version 6.0.

You say that it should support any input and you're probably right (since
you're the one that made it). It is probably a glitch on my end.

I appreciate you reading and replying to my post.


Good trading.

[Rollins]

Paul,

I've tested the 1.4 version which I uploaded and it allows the kind of settings you are looking for. As for 1.0, it could be that there was a bug in the code, however no one complained about that before.

Cheers

[thrunner]

Sorry for not being clearer - I can input a different period as long as the number is over it's default which is 24, but it will not accept any number below 24 (when I try - it resets back to 24).
You are right, but you can change this under the properties section of the code:
[Description("")]
[Category("Parameters")]
public int Period
{
get { return period; }
set { period = Math.Max(24, value); }
}
#endregion

[Paul_J]

Thanks Rollins.

Thrunner - thanks for the suggestion.

[Paul_J]

WOW Rollins! You outdid yourself!
This one is much better than the old one.

MANY THANKS! And happy trading!

[capstone]

and get the chart prices compressed when setting the indicator to false on calculate on bar close ??

[NinjaTrader_Josh]

I am not using this indicator so I do not know, but as a guess try checking your AutoScale settings? If not then it could be a bug in the code.