sarangab Updated   
This is a EMA Delta Oscillator: An attempt to show ranging markets based on the slope of the EMA.

Green = Bullish Market
Blue = Ranging Market
Red = Bearish Market

The EMA Slope is normalized to make it work like an oscillator with values between 0 and 1.

Bar colors show the oscillator colors, bar borders show the actual candle colors.

- Invsto
Release Notes:
v1.1 - Minor display setting changes
Release Notes:
v1.2 Minor display changes

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.

Want to use this script on a chart?