OPEN-SOURCE SCRIPT
Khalifa's Indicator
High Probability Buy
Price closes above the 200 EMA with a bullish (green) candle.
MACD bullish crossover occurs below the zero line.
Volume is above its average.
Entry signal can appear within 10 candles after the EMA 200 breakout.
No bullish divergence detected.
Very Strong Buy
Meets all High Probability Buy conditions, plus:
Regular Bullish Divergence or Hidden Bullish Divergence is present.
Notes
No buy signals are generated below the 200 EMA.
Only one buy signal is generated for each breakout above the 200 EMA.
The indicator is designed for Daily, 2H, and 1H timeframes.
Price closes above the 200 EMA with a bullish (green) candle.
MACD bullish crossover occurs below the zero line.
Volume is above its average.
Entry signal can appear within 10 candles after the EMA 200 breakout.
No bullish divergence detected.
Very Strong Buy
Meets all High Probability Buy conditions, plus:
Regular Bullish Divergence or Hidden Bullish Divergence is present.
Notes
No buy signals are generated below the 200 EMA.
Only one buy signal is generated for each breakout above the 200 EMA.
The indicator is designed for Daily, 2H, and 1H timeframes.
Open-source script
In true PulseWire spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by PulseWire. Read more in the Terms of Use.
Open-source script
In true PulseWire spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by PulseWire. Read more in the Terms of Use.