EMA Cor Bias [Intromoto]

I wanted a way to be able to see whether a separate security was above/below its own EMA(s) and to see those EMA crossovers on a correlated asset.

This script shows barcolors for directional bias of any chosen asset (manual ticker input) according to whether its price is above, below, or between two EMAs. This also includes a candle close requirement of 15 minutes. I use this tool for scalping on lower time frame and so will be able to see a more significant candle close resolution of the external asset.

For example, when BTC price of a given timeframe has closed a 15 minute candle above both BTC EMAs the current chart will barcolor teal, when below both on 15 min candle close, pink, with transition colors black and orange as price is between EMAs.

I've also included a crossover plotshape for when the external asset EMAs crossover/crossunder on the 15 minute candle close.

User can also change whether to simplify the strategy and use only the slow EMA for a three color bias, Teal - bullish, Black - neutral, Pink - bearish. Further experimentation will be made and I'll update accordingly.

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Thanks!

Sürüm Notları:

Revealed the EMAs, and added a resolution option for the EMAs. Also added an MA type function to choose the kind of MA.

Sürüm Notları:

Changed default values and timeframe