Thjs script combines two range filters, an EMA and the Ultimate oscillator .
This is an indicator type of script with alerts that is ideal for one minute scalping and was developed initially for NAS100 but has been used successfully with other symbols.
The two range filters are used to detect when the short and mid term trends are in the same direction.
The EMA indicates the longer term trend and the UO is used to determine if an asset is overbought or oversold.
This indicator pairs well with divergence indicators to add confluence to a change in direction.

Additional features of this indicator:

• Configure whether to show buy and sell labels only when asset is not overbought or oversold
• Select whether to show buys only when price is above the EMA , or sells only below the EMA
• Indicate a bar where a trend crosses the EMA and select if the crossover or cross under should be shown only in a counter trend.
• Pullbacks within a trend can be identified. This may indicate trend continuation.
• Alerts can be created for pullbacks, EMA crossing and for buy or sell signals

backtest