ERAK

Technical Description: ERAK (Multi-EMA Suite)
The ERAK script is a trend-following technical analysis tool developed in Pine Script v6. It is designed to provide a comprehensive view of market momentum and trend direction by plotting six different Exponential Moving Averages (EMA) simultaneously on the price chart.
Key Components
• Dynamic Source Selection: The script allows the user to choose the price source (default is close) used for all EMA calculations.
• Layered Timeframes: It utilizes six distinct periods to capture short-term, medium-term, and long-term market trends:
• Short-Term (EMA 6, 13, 21): These lines react quickly to price changes, helping identify immediate momentum and "scalping" opportunities.
• Medium-Term (EMA 50): Often used by traders as a "trend filter" or a major support/resistance level.
• Long-Term (EMA 100, 200): These represent the "institutional" trend. The 200 EMA, in particular, is a global benchmark for determining overall bull or bear markets.
Visual Logic
The script uses a color-coded system and varying line thicknesses to help the trader distinguish between the averages at a glance:
• Thin Lines (1px): Used for the fastest EMAs (6 and 13) to keep the chart clean.
• Thick Lines (2px): Used for the 21, 50, 100, and 200 EMAs to emphasize their importance as structural support and resistance levels.
How to Use This Indicator
1. Trend Identification: When the shorter EMAs (e.g., Orange/Blue) are above the longer EMAs (Yellow/Red), the market is in a confirmed Uptrend.
2. Crossovers: When a short EMA crosses above a long EMA (a "Golden Cross" variation), it indicates a potential Buy signal.
3. Support & Resistance: During a trend, the price often "bounces" off these lines (especially the 50 and 200 EMAs), treating them as dynamic support or resistance.