OPEN-SOURCE SCRIPT
Diupdate

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
Catatan Rilis
Fixed EMA inputs being in the wrong order.
Catatan Rilis
Minor improvements.
Catatan Rilis
Minor improvements
Catatan Rilis
Minor improvements
Catatan Rilis
- Updated to Pine Script v4
Catatan Rilis
Optimized code to be more efficient
Catatan Rilis
Updated to Pine Script v5
Catatan Rilis
Updated to v6 pine script

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