1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
EMA-Flat takes the absolute one-bar change of the EMA and divides it by the ATR, then plots that ratio as a histogram. Bars are teal when the ratio is below a flat threshold and orange otherwise, and the pane background is tinted during flat periods. EMA length, ATR length and the threshold are adjustable. It works as a ranging versus trending filter and gives no buy or sell signals.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
EMA Length
int
10
ema_len
ATR Length
int
14
atr_len
Flat Threshold (slope/ATR)
float
0.10
flat_thr
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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