Yacine EMA Bands
This is a different version of the WMA bands indicator, inspired by Yacine's 125 period EMA findings in the DAX and SPY.
He states that when price deviates by 10% or so, it calls for a retracement in the DAX, as time has proven over and over again.
Interesting indicator, when using this period and an EMA for the calculation.
The main idea came from nanningbob's efforts.
He states that when price deviates by 10% or so, it calls for a retracement in the DAX, as time has proven over and over again.
Interesting indicator, when using this period and an EMA for the calculation.
The main idea came from nanningbob's efforts.
study(title="Yacine EMA Bands", shorttitle="YEMAB", overlay=true) source = close length = input(125, minval=1, title = "EMA Length") atrlen = input(500, minval=1, title = "ATR Length") mult1 = 3.2 mult2 = 6.4 mult3 = 9.5 ma = ema(source, length) range = tr rangema = ema(range, atrlen) up1 = ma + rangema * mult1 up2 = ma + rangema * mult2 up3 = ma + rangema * mult3 dn1 = ma - rangema * mult1 dn2 = ma - rangema * mult2 dn3 = ma - rangema * mult3 plot(ma, color=black) color1 = lime color2 = orange color3 = maroon //plot(up1, color = color1) //plot(up2, color = color1) //plot(up3, color = color1) u4 = plot(up1, color = color1) //plot(up5, color = color2) //plot(up6, color = color2) //plot(up7, color = color2) u8 = plot(up2, color = color2) //plot(up9, color = color3) //plot(up10, color = color3) //plot(up11, color = color3) u12 = plot(up3, color = color3) //plot(dn1, color = color1) //plot(dn2, color = color1) //plot(dn3, color = color1) d4 = plot(dn1, color = color1) //plot(dn5, color = color2) //plot(dn6, color = color2) //plot(dn7, color = color2) d8 = plot(dn2, color = color2) //plot(dn9, color = color3) //plot(dn10, color = color3) //plot(dn11, color = color3) d12 = plot(dn3, color = color3)