If we have more Closes above Opens, obviously the indicator will be above ZERO and GREEN, otherwise RED.
Optional to smooth it by EMA (true by default).
Like if you Like and Enjoy!
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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.