Finger trap indicator
Begin of Green = entry long
Begin of Red = entry short
No plot = not an entry
Begin of Red = entry short
No plot = not an entry
study(title="Moving Average Exponential", shorttitle="EMA", overlay=true) len = input(8, minval=1, title="Length") src = input(close, title="Source") out = ema(src, len) len1 = input(96, minval=1, title="Length1") out1 = ema(src, len1) len2 = input(408, minval=1, title="Length2") out2 = ema(src, len2) data = close > out data1 = close < out data2 = close > out1 data3 = close < out1 data4 = close > out2 data5 = close < out2 data6 = out > out1 and out1 > out2 data7 = (out < out1 and out1 < out2) bgUp = (data and data2 and data4 and data6) ? green : na bgDown = (data1 and data3 and data5 and data7) ? red : na // === /LOGIC === // === PLOTTING === bgcolor(bgUp, transp=50) bgcolor(bgDown, transp=50)