Short Description of the Indicator "MB 3ST+EMA+StochRSI Martin Buecker 16.01.2025"
This trend-following and momentum-based indicator combines Supertrend, EMA 200, and Stochastic RSI to generate buy and sell signals with improved accuracy. 1. Key Components
Supertrend (3 variations): Uses three Supertrend indicators with different periods to confirm trend direction. Buy signal when at least 2 Supertrends are bearish. Sell signal when at least 2 Supertrends are bullish.
EMA 200 (Exponential Moving Average): Buy signals only when the price is above EMA 200 (uptrend confirmation). Sell signals only when the price is below EMA 200 (downtrend confirmation).
Multi-Timeframe Stochastic RSI: Uses a higher timeframe Stoch RSI (default: 15 minutes) to filter signals. Buy signal when %K crosses above %D (bullish momentum). Sell signal when %K crosses below %D (bearish momentum).
2. Signal Generation
📈 Buy Signal Conditions: ✅ At least 2 of 3 Supertrends are bearish ✅ Price is above EMA 200 ✅ Stoch RSI shows a bullish crossover (%K > %D)
📉 Sell Signal Conditions: ✅ At least 2 of 3 Supertrends are bullish ✅ Price is below EMA 200 ✅ Stoch RSI shows a bearish crossover (%K < %D) 3. Visual Representation & Alerts
Supertrend Lines: Green = Bullish, Red = Bearish EMA 200: White Line Buy/Sell Signals: Green triangle (below bar) = Buy Red triangle (above bar) = Sell Alerts: Notifies users when a buy or sell signal is triggered. Background Coloring: Green for Buy signals, Red for Sell signals
4. Purpose & Benefits
🔥 Combines trend (EMA 200, Supertrend) and momentum analysis (Stoch RSI) for better signal accuracy. 🔥 Works best in trending markets, filtering out false signals in sideways movements. 🔥 Suitable for scalping and day trading, providing clear and structured trade entries.