How to paint price bar based on 3 different EMAs: all up, green; all down, red; and mixed, maybe gray? No need to be stacked.

[DocKen]

For example, if 2, 5, and 8 EMA all going up, green. If 2, 5, and 8 all going down, red. If no agreement in direction, gray. Hope to use primarily on 5 minute chart.

 

[SleepyZ]

For example, if 2, 5, and 8 EMA all going up, green. If 2, 5, and 8 all going down, red. If no agreement in direction, gray. Hope to use primarily on 5 minute chart.

The following has an optional price coloring as you requested

plot ema1 = expaverage(close,2);
plot ema2 = expaverage(close,5);
plot ema3 = expaverage(close,8);

def up = (ema1>ema1[1]) + (ema2>ema2[1]) + (ema3>ema3[1]);
def dn = (ema1<ema1[1]) + (ema2<ema2[1]) + (ema3<ema3[1]);

input pricecolor = yes;
assignpriceColor(if !pricecolor then color.current else       
                 if up == 3
                   then color.green else
                 if dn == 3
                   then color.red
                 else color.light_gray);

 

[DocKen]

The following has an optional price coloring as you requested

Thank you so much! I have learned a lot by just seeing the way you put this together. And, it will be easy for me to adjust the script to try different EMA inputs depending on the type of trading.

 

[DocKen]

The following has an optional price coloring as you requested

Question about the EMA in the code. Is the EMA by default the EMA of the close? Is there any way to base the EMA on high, low, and close divided by 3?

 

[SleepyZ]

Question about the EMA in the code. Is the EMA by default the EMA of the close? Is there any way to base the EMA on high, low, and close divided by 3?

Yes. I have modified the code to allow you to choose differnt price types (eg: (H+L+C) / 3) for your request) at the input screen. Also, you can now try different average types and lengths at the input screen.

input length1 = 2;
input length2 = 5;
input length3 = 8;
input price   = close;
input avgtype = AverageType.EXPONENTIAL;

plot ma1 = MovingAverage(avgtype, price, length1);
plot ma2 = MovingAverage(avgtype, price, length2);
plot ma3 = MovingAverage(avgtype, price, length3);

def up = (ma1 > ma1[1]) + (ma2 > ma2[1]) + (ma3 > ma3[1]);
def dn = (ma1 < ma1[1]) + (ma2 < ma2[1]) + (ma3 < ma3[1]);

input pricecolor = yes;
AssignPriceColor(if !pricecolor then Color.CURRENT else       
                 if up == 3
                   then Color.GREEN else
                 if dn == 3
                   then Color.RED
                 else Color.LIGHT_GRAY);

 

[DocKen]

Yes. I have modified the code to allow you to choose differnt price types (eg: (H+L+C) / 3) for your request) at the input screen. Also, you can now try different average types and lengths at the input screen.

I appreciate this so much! This will so much help with things I have been trying to follow by "eyeballing" the chart EMAs.