OPEN-SOURCE SCRIPT
RKs 10 EMA Monthly - Color Based
Explanation:
request.security: This function is used to get data from a higher timeframe (monthly in this case). It ensures that the script retrieves the closing prices specifically for the monthly timeframe.
ta.ema: This calculates the Exponential Moving Average with a period of 10.
plot: Plots the calculated EMA on the chart with a blue line for visibility.
request.security: This function is used to get data from a higher timeframe (monthly in this case). It ensures that the script retrieves the closing prices specifically for the monthly timeframe.
ta.ema: This calculates the Exponential Moving Average with a period of 10.
plot: Plots the calculated EMA on the chart with a blue line for visibility.
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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