Accumulated area from EMA crossover for filtering ranging market

This script is meant to filter away ranging market and give signals when market have been in an uptrend or downtrend without crossing the EMA for a given threshold. The threshold is the area between the low( or high) candle to the EMA line starting from the point where price crossed the EMA line. A bull/bear signal will be given when threshold is reached. A higher threshold will filter better ranging market where price is crossing EMA multiple times, but it will also slower indicate where bull and bear market starts.
Signal given by this script should only be used together with other indicators. It will not give you the entry point but only when the price have been above/under the EMA for a given threshold.

The threshold is given in percentage.
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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