MA Ribbon Colored Bars

This script color codes the price bars based on the close-value position relative to a moving average ribbon. Rainbow colors used for simplicity and readability.

Use to study which colors are most likely to produce continuation vs. reversal.

**** MUST use bars, not Japanese candles! ****
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.


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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