OPEN-SOURCE SCRIPT
Updated Frosted 12 EMA WIDTH
This is a complementary indicator for the 12 EMAs indicator (tradingview.com/script/2svpFULS-Frosted-12-EMAs/)
This width indicator shows the fanning width of each fan (shorter MAs and longer MAs).
To make things easier to see:
You can turn off one of the histograms to view just one of the widths (and add a 2nd instance of this indicator, turning off the other width).
This width indicator shows the fanning width of each fan (shorter MAs and longer MAs).
To make things easier to see:
You can turn off one of the histograms to view just one of the widths (and add a 2nd instance of this indicator, turning off the other width).
Release Notes
NEW ADDITIONS:- Added a Width Between line, which shows the width between the two EMA fans: Basically, when the line is at 0, then the slowest EMA of the Slow Fan and the fastest EMA of the Fast Fan are crossing each other. (It is possible to hide this line, or any of the histograms, in the configuration window).
- Added 6 (configurable) horizontal lines to help visualize things better.
Changes to defaults values:
- Changed the line thickness of the Slow Fan's histogram to help differentiate between histograms in overlapping areas.
Enjoy!
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.
Want to use this script on a chart?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.