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stdema

Customizable EMA with Standard Deviation Bands

This indicator enhances the classic Exponential Moving Average (EMA) by adding customizable standard deviation bands, making it a versatile tool for identifying trends and potential market reversals.

Key Features:

Customizable EMA Length: You can adjust the EMA length to suit your preferred timeframe or strategy, with a default of 20 periods.
Adjustable Standard Deviation Multiplier: Fine-tune the sensitivity of the bands by customizing the standard deviation multiplier, helping to adapt the indicator to various market conditions.
Dynamic EMA Coloring: The EMA changes color based on price action relative to the bands:
Green: When the price is above the upper standard deviation band, signaling bullish momentum.
Red: When the price is below the lower standard deviation band, indicating bearish momentum.
Persistent Coloring: If the price is within the neutral zone (between the bands), the EMA retains its last color (green or red), keeping the focus on recent market signals.