EMA Ribbon overlay with Trend-Based Color Transition

This indicator visualizes an EMA Ribbon with a trend-based color transition. It helps traders quickly identify market trends and transitions between bullish and bearish movements.

How It Works
Exponential Moving Averages (EMAs)

The indicator calculates 8 EMAs based on user-defined lengths.
Default values range from 21 to 55 periods.
Trend Identification

A bullish trend is detected when all EMAs are stacked in an upward sequence (shorter EMAs above longer ones).
A bearish trend is detected when all EMAs are stacked in a downward sequence (shorter EMAs below longer ones).
Trend Reversal Detection

A trend shift to bullish occurs when a previously bearish trend turns bullish.
A trend shift to bearish occurs when a previously bullish trend turns bearish.
Color Transition Logic

Green when transitioning from a bearish to bullish trend.
Red when transitioning from a bullish to bearish trend.
Visualization

EMAs are plotted on the chart.
The area between EMAs is filled with green or red, depending on the trend shift.
Use Case
Identifying Trend Shifts: Traders can use color transitions to detect potential entry and exit points.
Confirming Market Direction: Helps confirm bullish and bearish trends before making trading decisions.
Enhanced Visual Clarity: The ribbon structure makes it easy to see trend momentum and potential reversals.
This indicator is useful for trend-following strategies and can be combined with other technical analysis tools for better decision-making. 🚀