Pullback after EMA Crossover

[METAL]

What I am trying to achieve, is when price crosses ema and then pulls back to within a certain range and then continues in the direction of the original cross. I would like an alarm and an arrow at this point.
Here is what I have started. It isn't working though.
also would like a stop low or high of last bar.

# Define inputs for the EMA period, pullback range, and candle criteria
input emaLength = 20;
input pullbackRange = 0.1;  # Adjust this value as needed for your criteria
input candleCriteria = 2;   # Number of candles to check after the pullback

# Calculate the EMA
def ema = ExpAverage(close, emaLength);

# Calculate the pullback level
def pullbackLevel = ema * (1 - pullbackRange);

# Define a condition for the crossover and pullback
def crossoverAndPullback = close crosses above ema and low <= pullbackLevel;

# Initialize a counter to track candles after pullback
def candlesAfterPullback = if crossoverAndPullback then 1 else candlesAfterPullback[1] + 1;

# Create a signal when the pullback condition is met for the specified number of candles
def signal = candlesAfterPullback >= candleCriteria;

# Plot arrows on the chart when the signal occurs
plot bullishSignal = signal;
bullishSignal.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
bullishSignal.SetDefaultColor(Color.GREEN);
bullishSignal.SetLineWeight(2);

# Add an alert when the signal occurs
alert(signal, "Bullish Pullback Signal", Alert.BAR, Sound.Bell);

 

[Svanoy]

@METAL

# Define inputs for the EMA period, pullback range, and candle criteria
input emaLength = 50;
input pullbackRange = 0.001;  # Adjust this value as needed for your criteria
input candleCriteria = 2;   # Number of candles to check after the pullback

# Calculate the EMA
plot ema = ExpAverage(close, emaLength);

# Calculate the pullback level
plot longpullbackLevel = ema + (ema - (ema * (1 - pullbackRange)));
plot shortpullbackLevel = ema - (ema - (ema * (1 - pullbackRange)));

# Define a condition for the crossover and pullback
def LongCrossover = if close crosses below ema then 0 else if low crosses above longpullbackLevel then 1 else LongCrossover[1];
def LongPullback = LongCrossover and low <= longpullbackLevel;

def ShortCrossover = if close crosses above ema then 0 else if high crosses below shortpullbackLevel then 1 else ShortCrossover[1];
def ShortPullback = ShortCrossover and high >= shortpullbackLevel;

# Initialize a counter to track candles after pullback
def longcandlesAfterPullback = if !LongCrossover then 0 else if LongPullback then longcandlesAfterPullback[1] + 1 else longcandlesAfterPullback[1];
def shortcandlesAfterPullback = if !ShortCrossover then 0 else if ShortPullback then shortcandlesAfterPullback[1] + 1 else shortcandlesAfterPullback[1];

# Create a signal when the pullback condition is met for the specified number of candles
def longsignal = longcandlesAfterPullback >= candleCriteria;
def shortsignal = shortcandlesAfterPullback >= candleCriteria;

# Plot arrows on the chart when the signal occurs
plot bullishSignal = longsignal and !longsignal[1];
bullishSignal.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
bullishSignal.SetDefaultColor(Color.GREEN);
bullishSignal.SetLineWeight(2);

plot bearishSignal = shortsignal and !shortsignal[1];
bearishSignal.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
bearishSignal.SetDefaultColor(Color.RED);
bearishSignal.SetLineWeight(2);

# Add an alert when the signal occurs
alert(longsignal, "Bullish Pullback Signal", Alert.BAR, Sound.Bell);
alert(shortsignal, "Bearish Pullback Signal", Alert.BAR, Sound.Bell);

def LongStop = if bullishSignal then Lowest(low,2) else LongStop [1];
plot LongStopPlot = LongStop;
LongStopPlot.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);

def ShortStop = if bearishSignal then Highest(high,2) else ShortStop [1];
plot ShortStopPlot = ShortStop;
ShortStopPlot.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);

 

[METAL]

@METAL

# Define inputs for the EMA period, pullback range, and candle criteria
input emaLength = 50;
input pullbackRange = 0.001;  # Adjust this value as needed for your criteria
input candleCriteria = 2;   # Number of candles to check after the pullback

# Calculate the EMA
plot ema = ExpAverage(close, emaLength);
# Calculate the pullback level
plot pullbackLevel = ema + (ema - (ema * (1 - pullbackRange)));

# Define a condition for the crossover and pullback
def Crossover = if close crosses below ema then 0 else if low crosses above pullbackLevel then 1 else Crossover[1];
def Pullback = Crossover and low <= pullbacklevel;

# Initialize a counter to track candles after pullback
def candlesAfterPullback = if !Crossover then 0 else if Pullback then candlesAfterPullback[1] + 1 else candlesAfterPullback[1];

# Create a signal when the pullback condition is met for the specified number of candles
def signal = candlesAfterPullback >= candleCriteria;

# Plot arrows on the chart when the signal occurs
plot bullishSignal = signal and !signal[1];
bullishSignal.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
bullishSignal.SetDefaultColor(Color.GREEN);
bullishSignal.SetLineWeight(2);

# Add an alert when the signal occurs
alert(signal, "Bullish Pullback Signal", Alert.BAR, Sound.Bell);

def Stop = if bullishSignal then low[1] else Stop [1];
plot StopPlot = Stop;
StopPlot.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);

Wow. Thank You! I did not realize that there wasn't a short signal option. If you have time and do not mind, can you add that to this? I will attempt myself based on what you did to fix it.

 

[Svanoy]

@METAL
Added short signal to previous post.

 

[METAL]

@METAL
Added short signal to previous post.

@METAL
Added short signal to previous post.

I have some questions if you do not mind. Is there a way to make the stop line go to the lowest between the previous candle and the trigger candle?
By the way, So far this is crazy good on a 2 minute using 20 MA. As long as the next candle moves above the trigger candle. I have not lost on one trade with it yet. I have only used it 4 times so not a large sample. I will keep all posted. I also use the 50 EMA as a guide for trend. I am using it trading SPX but using spy.

 

[Svanoy]

Is there a way to make the stop line go to the lowest between the previous candle and the trigger candle?

Edited original post to use lowest low or highest high of trigger bar and previous bar depending on signal direction.