OPEN-SOURCE SCRIPT
EMA 200 Direction Bands
A clean trend-direction tool built around the 200-period Exponential Moving Average — the most widely watched long-term trend line in technical analysis.
The EMA line dynamically changes color to reflect momentum:
🟢 Green — EMA is sloping upward (bullish trend)
🔴 Red — EMA is sloping downward (bearish trend)
⚪ Gray — EMA is flat (no momentum)
Two bands are plotted at ±1% above and below the EMA, acting as a dynamic support/resistance zone — price hugging or crossing these bands can signal trend strength or potential reversals.
Best used for:
Identifying the dominant market trend at a glance
Spotting price reactions near major moving average zones
Filtering trade entries — only trade longs above green EMA, shorts below red EMA
Simple, effective, and noise-free.
The EMA line dynamically changes color to reflect momentum:
🟢 Green — EMA is sloping upward (bullish trend)
🔴 Red — EMA is sloping downward (bearish trend)
⚪ Gray — EMA is flat (no momentum)
Two bands are plotted at ±1% above and below the EMA, acting as a dynamic support/resistance zone — price hugging or crossing these bands can signal trend strength or potential reversals.
Best used for:
Identifying the dominant market trend at a glance
Spotting price reactions near major moving average zones
Filtering trade entries — only trade longs above green EMA, shorts below red EMA
Simple, effective, and noise-free.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.