Dual EMA with Distance Indication

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Dual EMA with Distance

This indicator plots two Exponential Moving Averages (EMAs) of your choice directly on the chart and calculates the absolute distance between them. Whether you’re tracking trends or identifying crossover opportunities, this tool gives you added insight into the relationship between the selected EMAs.

Features:

• Customizable EMAs: Adjust the length and line width for both EMAs to fit your strategy.
  
• Color & Style Options: Personalize the colors and transparency of each EMA line to match your chart theme.
  
• Distance Display: Enable an optional distance box that dynamically shows the absolute difference between the two EMAs. You can position this box in any corner of the chart and choose your preferred text size, color, and precision (decimal places).
  
• Clean Visualization: The indicator ensures clarity with adjustable transparency and a sleek box design for the distance.
  

Use this to quickly gauge the strength of a trend or identify potential consolidation when the EMAs are close together. It’s versatile, easy to customize, and a handy addition to any trader’s toolkit.

Have ideas for improving this indicator or creating new ones?
Feel free to DM me DerLucas432 with suggestions or custom indicator requests!