OPEN-SOURCE SCRIPT
EMA POD Indicator #ganges
This script is a technical analysis indicator that uses multiple Exponential Moving Averages (EMAs) to identify trends and track price changes in the market. Here's a breakdown:
EMA Calculation: It calculates six different EMAs (for periods 5, 10, 20, 50, 100, and 150) to track short- and long-term trends.
Trend Identification:
Uptrend: The script identifies an uptrend when the EMAs are in ascending order (EMA5 > EMA10 > EMA20 > EMA50 > EMA100 > EMA150).
Downtrend: A downtrend is identified when the EMAs are not in ascending order.
Trend Change Tracking: It tracks when an uptrend starts and ends, displaying the duration of the trend and the percentage price change during the trend.
Visuals:
It plots the EMAs on the chart with different colors.
It adds green and red lines to represent the ongoing uptrend and downtrend.
Labels are displayed showing when the uptrend starts and ends, along with the trend's duration and price change percentage.
In short, this indicator helps visualize trends, track their changes, and measure the impact of those trends on price.
EMA Calculation: It calculates six different EMAs (for periods 5, 10, 20, 50, 100, and 150) to track short- and long-term trends.
Trend Identification:
Uptrend: The script identifies an uptrend when the EMAs are in ascending order (EMA5 > EMA10 > EMA20 > EMA50 > EMA100 > EMA150).
Downtrend: A downtrend is identified when the EMAs are not in ascending order.
Trend Change Tracking: It tracks when an uptrend starts and ends, displaying the duration of the trend and the percentage price change during the trend.
Visuals:
It plots the EMAs on the chart with different colors.
It adds green and red lines to represent the ongoing uptrend and downtrend.
Labels are displayed showing when the uptrend starts and ends, along with the trend's duration and price change percentage.
In short, this indicator helps visualize trends, track their changes, and measure the impact of those trends on price.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.