CM EMA Trend Bars

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 .
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//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)


Hi Chris, great script. Is there anyway of adding alerts to bar colour changes? I’ve had a crack at it but can’t get it to work...
+10 返信
Kiranime btcjeanralphio
@btcjeanralphio, im looking for the same thing!
+3 返信
Hi Chris,

Do you know how to adjust the code to get it to work on a Renko chart?

+6 返信
How does this filter out chop? The if the candles go above the ema, then the ema changes color for a possible trend change. Can you explain further?
you know what im thinking how do I set alerts for this I think that would be next level
Hi Chris, really useful script! is there a way to set bar colour transparency to ) by default? i find it skips around when adding ema. Thank you!
Hi Chris...

What do I need to remove in the source code to remove the "HLC/3" filter? I'd like to use this, but to just color the bars as they close above/below an EMA (but without the "HLC/3" filter).

Thanks. :-)
ChrisMoody FrankTurd
The filter was created b/c Price being above or below the EMA line is what creates the bar coloring. I could create an indicator with options of what to use...but in the meantime everywhere you see hlc3 change that to whatever you want...example close, hl2, open, high, low, ohlc4, etc. Close would be the standard...but I found hlc3 which is taking the High + Low + Close and dividing by 3 helped filter out the Choppiness of color changing when price is going back and forth across the EMA.

Let me know if that didn't answer your question.
+6 返信
FrankTurd ChrisMoody
Thanks! That answered my question perfectly. I appreciate the reply. Thanks for your time and great work.

Cheers. :-)
ChrisMoody FrankTurd
No Problem
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