Projecting EMAs — Indicator by samuelhei

ema emas

This simple indicator projects 4 EMAs above and 4 under the main EMA group.

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.

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.

Want to use this script on a chart?

study(title="Projecting EMAs", shorttitle="PEMA", overlay=true)



ema2 = ema(close, input(25,"EMA 1"))
ema1 = ema(close, input(50,"EMA 2"))


dif = ema2- ema1



pEma1 = ema2 + dif
pEma2 = ema2 + 2*dif

pEma3 = ema2 + 3*dif
pEma4 = ema2 + 4*dif

pEma5 = ema2 -2*dif
pEma6 = ema2 -3*dif

pEma7 = ema2 -4*dif
pEma8 = ema2 -5*dif

ple1 = plot(ema1, title="EMA 1", color=gray)
ple2 = plot(ema2, title="EMA 2", color=gray)

fill(ple1,ple2,color=green,transp=80)

plp1 = plot(pEma1, title="P Ema 1", color=gray)
plp2 = plot(pEma2, title="P Ema 2", color=gray)

plp3 = plot(pEma3, title="P Ema 3", color=gray)
plp4 = plot(pEma4, title="P Ema 4", color=gray)

fill(plp3,plp4,color=black,transp=70)
fill(plp2,plp3,color=black,transp=80)
fill(plp1,plp2,color=black,transp=90)

plp5 = plot(pEma5, title="P Ema 5", color=gray)
plp6 = plot(pEma6, title="P Ema 6", color=gray)

plp7 = plot(pEma7, title="P Ema 7", color=gray)
plp8 = plot(pEma8, title="P Ema 8", color=gray)

fill(plp5,plp6,color=black,transp=90)
fill(plp6,plp7,color=black,transp=80)
fill(plp7,plp8,color=black,transp=70)