EMA Confluence Oscillator

📌 EMA Confluence Oscillator + Signal

This oscillator helps detect ranging vs trending conditions by measuring EMA alignment, slope, and choppiness. It’s designed for traders who want to avoid chop and trade in clean directional moves.

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🔍 How It Works:
• Uses 3 EMAs (Fast, Medium, Slow) to assess market structure
• Measures how flat the slow EMA is (low slope = range)
• Detects short-term momentum flips in fast/medium EMAs
• Calculates EMA spread to find tight, choppy zones
• Combines all signals into a Range Score (0–1 scale)

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🧠 How to Use:
• High Range Score (near 1): Market likely ranging
• Low Range Score (near 0): More directional/trending
• Watch for crosses below the range threshold to spot trend breakouts
• Optional Signal Line helps smooth decision points

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⚙️ Features:
• Custom lengths for 3 EMAs
• Adjustable slope and convergence thresholds
• Toggle smoothing and signal line
• Background highlight when market is likely in a range
• Clean layout designed for fast intraday analysis

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🛠️ Input Settings Explained:
• Fast/Medium/Slow EMA: Controls trend detection windows
• Slope Lookback: Period used to assess flatness of slow EMA
• Convergence Threshold: How close EMAs must be to count as “tight”
• Smooth Output: Reduces noise in final Range Score
• Signal Line: Smoothed version of the score for easier reading
• Range Threshold: Level where choppiness is likely
• Show Background: Highlights range zones visually