Trend Ribbon
Trend Ribbon is an indicator drawn over the price chart.
core language
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indicator "Trend Ribbon"2
pane: price3
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input fast = 205
input slow = 506
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fast_line = ema(close, fast)8
slow_line = ema(close, slow)9
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export up = fast_line > slow_line11
export strength = (fast_line - slow_line) / atr(14)12
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plot fast_line as fast, color: if up then green else red14
plot slow_line as slow, color: grayWhat this script says
Trend Ribbon is an indicator drawn over the price chart.
You can change 2 inputs: fast (default 20) and slow (default 50).
It calculates fast_line as the EMA of the close over fast bars, slow_line as the EMA of the close over slow bars, up as whether fast_line is above slow_line and strength as (fast_line minus slow_line) divided by the 14-bar ATR. It shares up and strength with scripts that use it.
On the chart, it plots fast_line as fast and plots slow_line as slow.