PROTECTED SOURCE SCRIPT
ERAK
Technical Description: ERAK (Multi-EMA Suite)
The ERAK script is a trend-following technical analysis tool developed in Pine Script v6. It is designed to provide a comprehensive view of market momentum and trend direction by plotting six different Exponential Moving Averages (EMA) simultaneously on the price chart.
Key Components
• Dynamic Source Selection: The script allows the user to choose the price source (default is close) used for all EMA calculations.
• Layered Timeframes: It utilizes six distinct periods to capture short-term, medium-term, and long-term market trends:
• Short-Term (EMA 6, 13, 21): These lines react quickly to price changes, helping identify immediate momentum and "scalping" opportunities.
• Medium-Term (EMA 50): Often used by traders as a "trend filter" or a major support/resistance level.
• Long-Term (EMA 100, 200): These represent the "institutional" trend. The 200 EMA, in particular, is a global benchmark for determining overall bull or bear markets.
Visual Logic
The script uses a color-coded system and varying line thicknesses to help the trader distinguish between the averages at a glance:
• Thin Lines (1px): Used for the fastest EMAs (6 and 13) to keep the chart clean.
• Thick Lines (2px): Used for the 21, 50, 100, and 200 EMAs to emphasize their importance as structural support and resistance levels.
How to Use This Indicator
1. Trend Identification: When the shorter EMAs (e.g., Orange/Blue) are above the longer EMAs (Yellow/Red), the market is in a confirmed Uptrend.
2. Crossovers: When a short EMA crosses above a long EMA (a "Golden Cross" variation), it indicates a potential Buy signal.
3. Support & Resistance: During a trend, the price often "bounces" off these lines (especially the 50 and 200 EMAs), treating them as dynamic support or resistance.
The ERAK script is a trend-following technical analysis tool developed in Pine Script v6. It is designed to provide a comprehensive view of market momentum and trend direction by plotting six different Exponential Moving Averages (EMA) simultaneously on the price chart.
Key Components
• Dynamic Source Selection: The script allows the user to choose the price source (default is close) used for all EMA calculations.
• Layered Timeframes: It utilizes six distinct periods to capture short-term, medium-term, and long-term market trends:
• Short-Term (EMA 6, 13, 21): These lines react quickly to price changes, helping identify immediate momentum and "scalping" opportunities.
• Medium-Term (EMA 50): Often used by traders as a "trend filter" or a major support/resistance level.
• Long-Term (EMA 100, 200): These represent the "institutional" trend. The 200 EMA, in particular, is a global benchmark for determining overall bull or bear markets.
Visual Logic
The script uses a color-coded system and varying line thicknesses to help the trader distinguish between the averages at a glance:
• Thin Lines (1px): Used for the fastest EMAs (6 and 13) to keep the chart clean.
• Thick Lines (2px): Used for the 21, 50, 100, and 200 EMAs to emphasize their importance as structural support and resistance levels.
How to Use This Indicator
1. Trend Identification: When the shorter EMAs (e.g., Orange/Blue) are above the longer EMAs (Yellow/Red), the market is in a confirmed Uptrend.
2. Crossovers: When a short EMA crosses above a long EMA (a "Golden Cross" variation), it indicates a potential Buy signal.
3. Support & Resistance: During a trend, the price often "bounces" off these lines (especially the 50 and 200 EMAs), treating them as dynamic support or resistance.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – 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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – 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.