This study displays a ribbon made of two moving averages identified by a filled Area. This provides visual aids to determine the trend direction and pivot points. The moving average will be Red if its value is decreasing, and green if it is increasing. When both MA's are the same color we have a trend direction. If those are different then we have a trend reversal and a pivot point. If combined with another ribbon then it can be configured so we have a pair of slow MA's and another pair of fast MA's , this can visually determine if the price is in bull or bear territory following the basic rules: 1. Fast MA pair above the slow MA Pair = Bullish 2. Fast MA pair below the slow MA Pair = Bearish 3. If the fast MA crosses over the slow MA it is a Bullish reversal 4. If the fast MA crosses below the the slow MA, it is a Bearish reversal.
The use of the ribbons without the price bars or line reduces the noise inherent to the price
so do you think we have reversal here or bear flag
Madrid
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In this example the faster ribbon once it enters into the zone delimited by the slow ribbon chances are this will be a bear flag that gains enough momentum to turn itself into a reversal If it breaks above this area, but if the price is rejected at the moving average this is just a bear flag and the continuation of the downtrend. I normally use the 55/144 or the 55/89 EMA's pair as the slow ribbon.
Parandeh1985
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Excellent idea
emailing
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This script is so great! Is it possible to combine 2 MPA into one just like your screenshot instead of using twice?