sarangab

IO_EMA_Delta_Oscillator

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
(sarangab)
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.

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Comments

Great work !
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This is the perfect alert to trigger a bot I'm working on. I simply need to tell the bot whether the market is trending up, down, or ranging. I see the se_color function but don't know enough to turn it into alerts when the color would change. Any chance you (or anyone) could help with that?
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Nice work
Reply
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