RedK Ribbon v2: Tracking Trend Made Easy

This is an update for the previously published RedK_Ribbon v1 -- and it adds some (hopefully) useful improvements:

1 - the Zero-Lag line is color-coded, to provide an early visual alert that momentum is fading, and the trend direction may change soon
2 - better colors for the ribbon :) - for the visually-oriented folks like me :)
3 - i added two optional EMAs that can be utilized as filters for the longer sentiment - to help a trader take positions only in the direction of the prevailing trends. note that these 2 EMA lines will be hidden by default until selected in the settings - to avoid clutter. Set to 30 and 50 by default but these lengths can be changed as needed
4 - code is open and commented

If you need to learn how we create the zero-lag moving average, pls refer to the "TA Basics" series - and if you need to learn more about how the Ribbon works, pls read the Ribbon v1 post

hope this is useful in your trading - and good luck!
リリースノート: Quick update for the RedK_Ribbon with Alerts enabled, for when the Zero Lag Moving Average (ZLMA) line changes direction up or down as requested.

Feel free to customize the alert message to your convenience.

リリースノート: - Adjusted the Alert logic and brought back the detailed explanation chart.
リリースノート: - A quick update of my Ribbon v2 trend tracker - with some minor visual enhancements

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.