OPEN-SOURCE SCRIPT
Aggiornato Fibonacci EMAs / Trend and Chopzone identifier
Implementation from the highly recommended course "Pinescript Indicator Development" on Udemy
udemy.com/course/pinescript-indicator-development/
This indicator is mostly to show some techniques in Pinescript rather than be useful for trading, however it does nicely identify trend and chop zones (sideways) on the 1-hour or 4-hour chart.
What it does:
- Has three EMAs at varying length and plots these on the chart
- Computes when the EMAs are in bullish configuration (EMA short > Medium > long)
- Computes when EMAs are in bearish configuration (EMA short < Medium < long)
- When the EMAs are crossed there is a chop zone (sideways)
- Colours the background of the chart as Green (bullish), Red (bearish) or Orange (sideways chop zone)
- Also predicts the value of the three EMA's three points into the future using linear regression (showed as dots on the chart)
udemy.com/course/pinescript-indicator-development/
This indicator is mostly to show some techniques in Pinescript rather than be useful for trading, however it does nicely identify trend and chop zones (sideways) on the 1-hour or 4-hour chart.
What it does:
- Has three EMAs at varying length and plots these on the chart
- Computes when the EMAs are in bullish configuration (EMA short > Medium > long)
- Computes when EMAs are in bearish configuration (EMA short < Medium < long)
- When the EMAs are crossed there is a chop zone (sideways)
- Colours the background of the chart as Green (bullish), Red (bearish) or Orange (sideways chop zone)
- Also predicts the value of the three EMA's three points into the future using linear regression (showed as dots on the chart)
Note di rilascio
Couple more comments 
Script open-source
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publications is governed by House rules. Per aggiungerlo al grafico, mettilo tra i preferiti.
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