Medium EMA Cross for Binary Options

// Created By User ChrisMoody
// Modified By User TimJaeger
// This Indicator plots crossovers of the Medium EMA
// Ideal for use on 5 minute chart - color indicates action you should take for the next interval (e.g. green overlay = CALL with 5 minute expiry time)
// If next candlestick is not in the direction of the overlay (e.g. the next 5 minute candle isn't green) 
// you can either martingale the next trade or stop and wait for the next red or green overlay

study(title = "Medium EMA Cross for Binary Options", shorttitle="Medium EMA Cross for Binary Options", overlay=true)

src = close, len = input(8, minval=1, title="Fast EMA")
src2 = close, len2 = input(21, minval=1, title="Medium EMA")
src3 = close, len3 = input(34, minval=1, title="Slow EMA")

isUp() => close > open
isDown() => close < open

emaFast = ema(src, len)
emaMedium = ema(src2, len2)
emaSlow = ema(src3, len3)

bgcolor(close[0] > emaMedium and emaFast < emaMedium and isUp() and (emaFast < emaMedium and emaMedium < emaSlow) ? red : na, transp = 70)
bgcolor(close[0] < emaMedium and emaFast > emaMedium and isDown() and (emaFast >= emaMedium and emaMedium >= emaSlow) ? green : na, transp = 70)