Pivot-based EMA Bands (PEMA)

This indicator draws 3 exponential moving averages.
It is coded according to the concept of pivot-based exponential moving averages. It visually reveals value opportunities during trending markets.

The moving averages are constructed based on pivot/typical price.

Typical price = (H+L+C)/3

There are 3 groups of exponential moving averages calculated using a typical price.

Moving average periods:
High Intensity: 8/13/21
Medium Intensity: 13/21/34
Low Intensity: 13/34/55

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