Moving Average Band Width ((((20/04/2022))))

Todays Script uses 5 Moving Averages with the new function on V5 called fill, we can now colour fill between moving averages.

100-200ema which is labelled in Redis where the big impulse moves will fall into if the pressure is so strong on the opposite of the trend.
50-100ema which is labelled in Blue is where price could be heading in a healthy trend
20-50ema which is labelled in Purple, price will enter this area when price is in a strong impulse move/trend
9-20ema which is labelled in Green is a super strong trend/ impulse move, price will most likely break this stream and enter the 20-50ema

(the colour of EMAS can be changed in the settings)

I would use this to either gauge the strength of a trend//impulse leg or buy/sell opportunities.

This works best in trending environments, LTF and liquid markets

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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