John Mann

EMA Ribbon for BO

ema
Moving Averages Ribbon for Binary Options trading
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// Created By John Mann
// This Indicator Plots a EMA with Color Based On Upward or Downward Slope
// Created 06/06/2015 

study(title = "EMA Ribbon for BO", shorttitle="MA Ribbon", overlay=true)


src1 = close, len1 = input(08, minval=1, title="EMA Length")
src2 = close, len2 = input(14, minval=1, title="EMA Length")
src3 = close, len3 = input(20, minval=1, title="EMA Length")
src4 = close, len4 = input(26, minval=1, title="EMA Length")
src5 = close, len5 = input(32, minval=1, title="EMA Length")
src6 = close, len6 = input(38, minval=1, title="EMA Length")
src7 = close, len7 = input(44, minval=1, title="EMA Length")
src8 = close, len8 = input(50, minval=1, title="EMA Length")

src0 = close, len0 = input(60, minval=1, title="EMA Length")



ema1 = ema(src1, len1)
ema2 = ema(src2, len2)
ema3 = ema(src3, len3)
ema4 = ema(src4, len4)
ema5 = ema(src5, len5)
ema6 = ema(src6, len6)
ema7 = ema(src7, len7)
ema8 = ema(src8, len8)

ema0 = ema(src0, len0)



//ema is smoothed to 2 periods, you can change smoothing by adjusting the number in the bracket below
//example [1] would react quicker and [3] would increase smoothing

plot_color1 = ema1 >= ema1[2]  ? #4985E7 : ema1 < ema1[2] ? #4985E6 : na
plot_color2 = ema2 >= ema2[2]  ? #4985E7 : ema2 < ema2[2] ? #4985E6 : na
plot_color3 = ema3 >= ema3[2]  ? #4985E7 : ema3 < ema3[2] ? #4985E6 : na
plot_color4 = ema4 >= ema4[2]  ? #4985E7 : ema4 < ema4[2] ? #4985E6 : na
plot_color5 = ema5 >= ema5[2]  ? #4985E7 : ema5 < ema5[2] ? #4985E6 : na
plot_color6 = ema6 >= ema6[2]  ? #4985E7 : ema6 < ema6[2] ? #4985E6 : na
plot_color7 = ema7 >= ema7[2]  ? #4985E7 : ema7 < ema7[2] ? #4985E6 : na
plot_color8 = ema8 >= ema8[2]  ? #4985E7 : ema8 < ema8[2] ? #4985E6 : na

plot_color0 = ema0 >= ema0[2]  ? lime: ema0 < ema0[2] ? red : na



plot(ema1, title="EMA Plot", style=line, linewidth=1, color = plot_color1)
plot(ema2, title="EMA Plot", style=line, linewidth=1, color = plot_color2)
plot(ema3, title="EMA Plot", style=line, linewidth=1, color = plot_color3)
plot(ema4, title="EMA Plot", style=line, linewidth=1, color = plot_color4)
plot(ema5, title="EMA Plot", style=line, linewidth=1, color = plot_color5)
plot(ema6, title="EMA Plot", style=line, linewidth=1, color = plot_color6)
plot(ema7, title="EMA Plot", style=line, linewidth=1, color = plot_color7)
plot(ema8, title="EMA Plot", style=line, linewidth=1, color = plot_color8)

plot(ema0, title="EMA Plot", style=line, linewidth=3, color = plot_color0)
can you explain it to me in more detail?
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