Moving Average Exponential (Daily Frozen EMA)

This script plots an Exponential Moving Average (EMA) based on the daily timeframe, but with a unique twist:
✅ The EMA value is frozen for the entire current daily session, only updating when a new daily candle begins.

🔍 How it works:
The EMA is calculated using the 1-day timeframe, regardless of the chart's current timeframe.

This EMA value remains fixed throughout the day — it doesn't fluctuate intrabar.

It updates only once the daily candle has closed, providing a stable and reliable reference point during the trading day.

The default is the 5 day EMA but can be changed to any EMA timeframe you desire such as 9, 21, 50, 100. 200, etc.

✨ Additional Features:
✅ Optional smoothing with various moving average types (SMA, EMA, WMA, SMMA, VWMA).

✅ Optional Bollinger Bands on top of the smoothed EMA.

✅ Adjustable settings for EMA length, smoothing type, Bollinger Band deviation, and display options.

🛠️ Use Cases:
Ideal for traders who want a non-reactive EMA during intraday trading.

Helps reduce signal noise by anchoring EMA to higher timeframe structure.

Useful for strategy development where EMA should represent confirmed daily bias only.

Hope this helps, happy trading!