OPEN-SOURCE SCRIPT
2 EMA Ribbon
Description: This indicator plots two Exponential Moving Averages (EMAs) on the price chart:
- The 20-period EMA (short-term trend) helps identify recent price movements.
- The 50-period EMA (medium-term trend) provides insight into broader market direction.
- A bullish signal occurs when the 20 EMA crosses above the 50 EMA, indicating an uptrend.
- A bearish signal occurs when the 20 EMA crosses below the 50 EMA, suggesting a downtrend.
This indicator is useful for trend-following traders looking for confirmation of market direction.
- The 20-period EMA (short-term trend) helps identify recent price movements.
- The 50-period EMA (medium-term trend) provides insight into broader market direction.
- A bullish signal occurs when the 20 EMA crosses above the 50 EMA, indicating an uptrend.
- A bearish signal occurs when the 20 EMA crosses below the 50 EMA, suggesting a downtrend.
This indicator is useful for trend-following traders looking for confirmation of market direction.
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 publications is governed by House rules. You can favorite it to use it on a chart.
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