OPEN-SOURCE SCRIPT
EMA 200 Daily Trend Zone
This indicator creates a dynamic colored zone between two 200-period EMAs (based on highs and closes) to visually represent the trend:
Green zone: Daily candle closes above both EMAs (uptrend).
Red zone: Daily candle closes below both EMAs (downtrend).
Gray zone: Price is between the two EMAs (neutral trend).
The zone is semi-transparent, providing a clean visual representation of market conditions without cluttering the chart.
Green zone: Daily candle closes above both EMAs (uptrend).
Red zone: Daily candle closes below both EMAs (downtrend).
Gray zone: Price is between the two EMAs (neutral trend).
The zone is semi-transparent, providing a clean visual representation of market conditions without cluttering the chart.
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 publication is governed by House rules. You can favorite it to use it on a chart.
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