Candle Colours and EMA Colours [LuciTech] — Indicator by TradesLuci1

movingaverage trendanalysis emas emacolors candlecolor

this indicator assigns a colour to each candle based on the relationship between the price and the EMAs, The indicator first checks whether the close price is above or below the first EMA, If the close price is above the first EMA the candle is coloured green. If the close price inbetween both EMAs the candle is colored gray. If the close price is below the second EMA, the candle is coloured red.

the indicator also colours the EMAs based on the closed price, if closed price is above the EMAs its coloured green and if price is closed below the EMA is coloured red.

The colours of the candles and EMAs can be changed in "style" and the periods of the EMAs can be changed in inputs.

Release Notes:

Made the colours more vibrant (grey replaced with purple).

added another EMA with 3rd now being invisible so you can adjust the length of the purple candle (purple candles meaning neutral in market direction)

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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 TradingView. Read more in the Terms of Use.

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