EMA Enhanced w/ Cross & Alerts

This indicator provides a comprehensive view of market trends using a "rainbow" of Exponential Moving Averages (EMAs), coupled with cross detection and alerts. It's designed to help traders identify potential entry and exit points based on the interplay of short, mid, and long-term trends, and based on my own personal back testing.

Key Features:

• EMA Rainbow: Plots 8, 13, 21 (short-term Fibonacci EMAs), 50 (mid-term), 100, 200 (long-term), and 800 (very long-term) EMAs. These default lengths are based on backtesting and represent optimal values for this indicator.
  

• EMA Ribbon: Visually represents the strength and momentum of trends by filling the areas between EMAs.
  

• Cross Detection with Confirmation: Identifies bullish and bearish crosses between the 8/13/21 EMAs and the 50/200 EMAs, with confirmation requiring the closing price to be on the correct side of the crossing EMA.
  

• Visual Alerts: Plots up and down triangles to indicate bullish and bearish crosses.
  
  
• Background Coloring: Colors the chart background based on the 50/200 and 8/13/21 crosses, providing immediate visual cues.
  

• Alert Conditions: Generates alerts for bullish and bearish crosses, allowing for automated trading strategies.
  

• Input Customization: Users can modify EMA lengths and toggle cross and ribbon displays.
  
  Strategy Overview:
  • Short-Term (8, 13, 21 EMAs - Fibonacci): These EMAs are used to identify short-term trends and potential entry/exit points. The 8,13,21 sequence is based on Fibonacci numbers, and is used to identify very short term momentum. A bullish crossover of these EMAs, confirmed by price, suggests upward momentum, while a bearish crossover indicates downward momentum.
    
  • Mid-Term (50 EMA): The 50 EMA acts as a gauge for mid-term trends. A crossover of the 50 EMA above the 200 EMA signals a potential shift to a bullish trend, and a crossover below signals a potential shift to a bearish trend.
    
  • Long-Term (100, 200, 800 EMAs): These EMAs provide a broader perspective on long-term trends. The 200 EMA, in particular, is widely used to define the overall market trend. The 800 EMA is used to identify very long term trends, and is also helpful as the last line of support and resistance on lower timeframes.
    
  • Crosses: The script generates signals based on crosses. When the short term emas cross above the mid and long term emas, this is a very bullish signal. When the short term emas cross below the mid and long term emas, this is a very bearish signal. The 50/200 cross is used to identify macro trend changes.
    
  • Ribbon: The ribbon can be used to identify trend strength. A wide ribbon indicates a strong trend, while a narrowing ribbon may signal a weakening trend or potential reversal.
    
  • Time Frame & Trading Type: The selection of EMA's is intentional and can be used on any time frame, for Sculp, Intraday and Swing Trading.
    
    How to Use:
    Add the indicator to your TradingView chart.
    Observe the EMA rainbow and ribbon for trend direction and strength.
    Look for bullish and bearish crosses, confirmed by price action.
    Use the visual alerts and background coloring to quickly identify potential trading opportunities.
    Customize the input settings to match your trading style and preferences.