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imsharper

Ranging EMA Spread

imsharper Updated   
Exponential Moving Average (EMA)
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0
ema
An attempt at identifying ranging price behavior at EMA crossover points.

I noticed that when price consolidates that the spread between two EMAs at times will sort of fluctuate between a tight range before it breaks out.

Basically this just highlights the bars that are within a predefined EMA spread percentage range for X amount of bars.

Sometimes the crossovers just happen cleanly, but the above example sort of illustrates my idea.
Release Notes:
Added optional bar colors. They're off by default.
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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