« Back home

Bearish matching high with EMA (short trades)

This is an improvisation over the plain vanilla bearish matching high. A sell signal is generated when the following conditions satisfy –

1)Two consecutive green candles appear

2)High of both the candles match

3)Close of both the candles match

4)A crossover of 21 and 9 day EMA occurs

A buy signal (for square off) is generated when two consecutive green candles appear

Buy script

Sell script

Additional notes

The buy condition for square off is just a place holder, only to provide an exit to the short trade. The trader can replace this with an intelligent exit strategy.