CM EMA Trend Bars — Indicator by ChrisMoody

chrismoody trend ema

This Code Simply Changes the Bar Colors based on if the Bar is Above or Below the EMA.

Inputs via the Inputs Tab:
Ability to change the EMA Period.
Ability to Turn On/Off the EMA Plotted on the Screen

***Note - I used the HLC/3 To determine if the bar/candle is above or below the EMA. This Filters out the Chop and gets rid of many of the False Breaks above or below the EMA.

Coming Soon: www.ChrisMoodyTrading.com

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.

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.

Want to use this script on a chart?

//Created by ChrisMoody on 11/1/2014
//Bar Color Based on Above/Below EMA...
study(title = "CM_EMA Trend Bars", shorttitle="CM_EMA TrendBars",overlay=true)
ema1 = input(34, minval=1, maxval=300, title="EMA UpTrend")
shema = input(true, title="Show EMA Trend is Based On?")

usedEma = ema(close, ema1)

emaUpColor() => hlc3 >= usedEma
emaDownColor() => hlc3  < usedEma

col = hlc3  >= usedEma ? lime : hlc3  < usedEma ? red : white

barcolor(emaUpColor() ? lime: emaDownColor() ? red : na)
plot(shema and usedEma ? usedEma : na, title="EMA", style=line, linewidth=3, color=col)