ZenAndTheArtOfTrading

Dynamic Support & Resistance

This indicator paints the background of the chart between 2 EMAs when all 3 given EMAs are in sync.

The default settings are:

Long-term EMA: 200 Period.
Short-term EMA 1: 50 Period.
Short-term EMA 2: 20 Period.

So according to the default settings, when the 20EMA is above the 50EMA, and the 50EMA is above the 200EMA, the area between the 20EMA and the 50EMA will turn green. When the 20EMA is below the 50EMA, and the 50EMA is below the 200EMA, the area will turn red. When the EMAs are all over the place ( ie . price is consolidating), the area will be painted white.

You can change the colors in the indicator settings menu. To remove the white background, change the transparency to 100%. Unfortunately pinescript does not allow you to do this using code, otherwise I would have made that a default feature.

Enjoy! Let me know if you have any questions.

Regards,
- Matt
Notes de version: Fixed EMA inputs being in the wrong order.
Notes de version: Minor improvements.
Notes de version: Minor improvements
Notes de version: Minor improvements
Notes de version: - Updated to Pine Script v4
Notes de version: Optimized code to be more efficient

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Script open-source

Dans le véritable esprit de TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par le règlement. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.

Vous voulez utiliser ce script sur un graphique ?