RedK Ribbon v2: Tracking Trend Made Easy

This is an update for the previously published RedK_Ribbon v1 -- and it adds some (hopefully) useful improvements:

1 - the Zero-Lag line is color-coded, to provide an early visual alert that momentum is fading, and the trend direction may change soon
2 - better colors for the ribbon :) - for the visually-oriented folks like me :)
3 - i added two optional EMAs that can be utilized as filters for the longer sentiment - to help a trader take positions only in the direction of the prevailing trends. note that these 2 EMA lines will be hidden by default until selected in the settings - to avoid clutter. Set to 30 and 50 by default but these lengths can be changed as needed
4 - code is open and commented

If you need to learn how we create the zero-lag moving average, pls refer to the "TA Basics" series - and if you need to learn more about how the Ribbon works, pls read the Ribbon v1 post

hope this is useful in your trading - and good luck!
Release Notes: Quick update for the RedK_Ribbon with Alerts enabled, for when the Zero Lag Moving Average (ZLMA) line changes direction up or down as requested.

Feel free to customize the alert message to your convenience.

Release Notes: - Adjusted the Alert logic and brought back the detailed explanation chart.
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RedKTrader worldtrip
@worldtrip, i will publish a version with alert hopefully soon.. thanks for your interest.
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RedKTrader GarethSA
@GarethSA, No - similar to any other MA, the active bar will calculate with every price change, once the bar is closed, no re-calculation happens for it. hope this answers your Q. you can set your chart TF to 1-min and observe it.
I like the colored ZLMA.
Do you know to make an alert on the change of its color?
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RedKTrader Kanimania
@Kanimania, that should be easy - feel free to customize the code - or let me know and i'll include it in the next update.
Kanimania RedKTrader
@RedKTrader, great :) lookin forward to it!
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Nice chart
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Nice chart. I like your ideas.
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