Yacine EMA Bands — Indicator by IvanLabrie

This is a different version of the WMA bands indicator, inspired by Yacine's 125 period EMA findings in the DAX and SPY.
He states that when price deviates by 10% or so, it calls for a retracement in the DAX, as time has proven over and over again.
Interesting indicator, when using this period and an EMA for the calculation.
The main idea came from nanningbob's efforts.

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ivanlabrie.substack.com/

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="Yacine EMA Bands", shorttitle="YEMAB", overlay=true)
source = close
length = input(125, minval=1, title = "EMA Length")
atrlen = input(500, minval=1, title = "ATR Length")
mult1 = 3.2
mult2 = 6.4
mult3 = 9.5
ma = ema(source, length)
range =  tr
rangema = ema(range, atrlen)

up1 = ma + rangema * mult1
up2 = ma + rangema * mult2
up3 = ma + rangema * mult3

dn1 = ma - rangema * mult1
dn2 = ma - rangema * mult2
dn3 = ma - rangema * mult3

plot(ma, color=black)

color1 = lime
color2 = orange
color3 = maroon

//plot(up1, color = color1)
//plot(up2, color = color1)
//plot(up3, color = color1)
u4 = plot(up1, color = color1)
//plot(up5, color = color2)
//plot(up6, color = color2)
//plot(up7, color = color2)
u8 = plot(up2, color = color2)
//plot(up9, color = color3)
//plot(up10, color = color3)
//plot(up11, color = color3)
u12 = plot(up3, color = color3)

//plot(dn1, color = color1)
//plot(dn2, color = color1)
//plot(dn3, color = color1)
d4 = plot(dn1, color = color1)
//plot(dn5, color = color2)
//plot(dn6, color = color2)
//plot(dn7, color = color2)
d8 = plot(dn2, color = color2)
//plot(dn9, color = color3)
//plot(dn10, color = color3)
//plot(dn11, color = color3)
d12 = plot(dn3, color = color3)