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Median with Bands, EMA & Background Fill [SpeedBot]
Median with Bands, EMA & Background Fill [SpeedBot]
The Median with Bands, EMA & Background Fill indicator is designed to help traders easily identify trends and potential reversals by combining key technical elements: the Median, ATR Bands, and Exponential Moving Average (EMA), along with dynamic background fills for visual clarity.
Key Features:
Median Calculation: The indicator uses the 50th percentile (median) of a user-defined source (such as the average of the high and low prices) to find the center of price action over a given period.
ATR Bands: Based on the Average True Range (ATR), the upper and lower bands are plotted above and below the median, creating a volatility-based range. These bands help visualize market fluctuations and potential breakouts.
Median EMA: An Exponential Moving Average (EMA) of the median is plotted, which helps smooth out price movements and identify trend direction with greater sensitivity to recent price action.
EMA vs Median Fill: A dynamic fill is applied between the median line and the EMA line. If the median is above the EMA, the fill is green (bullish), and if the median is below the EMA, the fill is red (bearish), making it easy to visually spot the prevailing trend.
Background Color: The background color dynamically changes based on the position of the median relative to the EMA. Green indicates a bullish trend, while red signals a bearish trend.
Alerts for Trend Crosses: Alerts can be set up when the median crosses above (bullish) or below (bearish) the EMA, signaling a potential change in market direction.
How to Use:
Bullish Trend: When the median crosses above the EMA, the fill turns green and the background color becomes a lighter green, indicating a bullish trend.
Bearish Trend: When the median crosses below the EMA, the fill turns red and the background becomes a darker red, signaling a bearish trend.
Volatility Range: The ATR bands can help identify periods of high or low volatility. When price breaks through the upper or lower ATR bands, it may indicate a breakout or a significant change in market conditions.
This indicator is perfect for traders who want a clear visual representation of price trends, volatility, and potential reversals, all within a single, easy-to-read chart.
The Median with Bands, EMA & Background Fill indicator is designed to help traders easily identify trends and potential reversals by combining key technical elements: the Median, ATR Bands, and Exponential Moving Average (EMA), along with dynamic background fills for visual clarity.
Key Features:
Median Calculation: The indicator uses the 50th percentile (median) of a user-defined source (such as the average of the high and low prices) to find the center of price action over a given period.
ATR Bands: Based on the Average True Range (ATR), the upper and lower bands are plotted above and below the median, creating a volatility-based range. These bands help visualize market fluctuations and potential breakouts.
Median EMA: An Exponential Moving Average (EMA) of the median is plotted, which helps smooth out price movements and identify trend direction with greater sensitivity to recent price action.
EMA vs Median Fill: A dynamic fill is applied between the median line and the EMA line. If the median is above the EMA, the fill is green (bullish), and if the median is below the EMA, the fill is red (bearish), making it easy to visually spot the prevailing trend.
Background Color: The background color dynamically changes based on the position of the median relative to the EMA. Green indicates a bullish trend, while red signals a bearish trend.
Alerts for Trend Crosses: Alerts can be set up when the median crosses above (bullish) or below (bearish) the EMA, signaling a potential change in market direction.
How to Use:
Bullish Trend: When the median crosses above the EMA, the fill turns green and the background color becomes a lighter green, indicating a bullish trend.
Bearish Trend: When the median crosses below the EMA, the fill turns red and the background becomes a darker red, signaling a bearish trend.
Volatility Range: The ATR bands can help identify periods of high or low volatility. When price breaks through the upper or lower ATR bands, it may indicate a breakout or a significant change in market conditions.
This indicator is perfect for traders who want a clear visual representation of price trends, volatility, and potential reversals, all within a single, easy-to-read chart.
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