OPEN-SOURCE SCRIPT
EMA Envelope and deviation
EMA Envelope with Deviation is a trend-following indicator that plots an Exponential Moving Average (EMA) with dynamic upper and lower bands based on a user-defined deviation. The bands can be calculated either as a fixed percentage distance from the EMA or using statistical standard deviation, allowing traders to visualize volatility and potential overbought or oversold zones. It is commonly used to identify breakout strength, pullback entries, and mean-reversion opportunities. The indicator is fully customizable, supports different price sources, and can optionally display crossover signals when price interacts with the envelope boundaries.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.