Moving Average Colored EMA/SMA — Indicator by repo32

ema movingaverage color exponential simplemovingaverage

This script will give you the ability to put an EMA and/or SMA on the chart that changes color based upon the direction. Default at startup is EMA visible and SMA hidden. When the MA is moving up, it is green. When the MA is moving down, it is red. You can change the color to whatever you like.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?

//Created by Robert Nance on 072315
study(title="Moving Average Colored EMA/SMA", shorttitle="Colored EMA /SMA", overlay=true)
emaplot = input (true, title="Show EMA on chart")
len = input(8, minval=1, title="ema Length")
src = close
out = ema(src, len)
up = out > out[1]
down = out < out[1]
mycolor = up ? green : down ? red : blue
plot(out and emaplot ? out :na, title="EMA", color=mycolor, linewidth=3)


smaplot = input (false, title="Show SMA on chart")
len2 = input(8, minval=1, title="sma Length")
src2 = close
out2 = sma(src2, len2)
up2 = out2 > out2[1]
down2 = out2 < out2[1]
mycolor2 = up2 ? green : down2 ? red : blue
plot(out2 and smaplot ? out2 :na , title="SMA", color=mycolor2, linewidth=1)