OPEN-SOURCE SCRIPT
EMA Ribbon Squeeze [Luca Massuda]
Updated
This chart is used to capture volatility squeeze and trend.
The bollinger bands help determine whether prices are high or low on a relative basis. They are used in pairs, both upper and lower bands and in conjunction with a moving average.
The green cross on the BB means a squeeze in coming in the near future and a big move will soon appen up or down.
The EMA ribbon tells you the chart trend. When it is green you can open a long position when it flips red you can open a short position.
Keep your position until the color change.
The bollinger bands help determine whether prices are high or low on a relative basis. They are used in pairs, both upper and lower bands and in conjunction with a moving average.
The green cross on the BB means a squeeze in coming in the near future and a big move will soon appen up or down.
The EMA ribbon tells you the chart trend. When it is green you can open a long position when it flips red you can open a short position.
Keep your position until the color change.
Release Notes
Added EMA 5 and EMA 15 cross to color the bars in white and gray. It will help to catch early entry points.Release Notes
Add Alert on bullish / bearish trendRelease Notes
Changed the Bollinger band squeeze. Yellow shading area indicating a squeeze in happening.Release Notes
Added acqua color to indicate potential bullish trend is starting , green color bullish trend , orange color bullish momentum is slowing down, red color bullish momentum is over . Release Notes
Added Intraday Intensity Index to identify squeeze direction. Green diamond possible upside. Red diamond possible downside.Release Notes
Add C on top and bottom bar after a squeeze confirmation, but be aware it can be a fake outRelease Notes
Update editable colorsRelease Notes
Add Rate Of Change to spot momentum change. It will shade the BB in blu when ROC is close to 0 and will print an M when it cross 0 up or down. You can enable it in settings.Removed arrows up and down as they are redundant to bar colors.
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 publication is governed by House rules. You can favorite it to use it on a chart.
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