9-15 Ema Strategy by Chartedhighs

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Features:

Threshold Input:

Allows the user to set a customizable threshold for the absolute difference between the two EMAs (default: 5).
Ensures only significant differences are considered for trend identification.
Exponential Moving Averages (EMAs):

Calculates two EMAs:
EMA 9: A faster-moving average for short-term trends.
EMA 15: A slower-moving average for mid-term trends.
Trend Identification:

The absolute difference (ema_diff) between the two EMAs is used to determine trend significance.

Conditions for trends:
Bullish Trend: EMA 9 is above EMA 15, and their difference meets or exceeds the threshold.
Bearish Trend: EMA 9 is below EMA 15, and their difference meets or exceeds the threshold.
Visual Indicators:

Background Color:
Green background for bullish trends.
Red background for bearish trends.
The transparency level is set to 90 for subtle visualization.
If conditions are not met, no background color is applied.

EMA Plots:
EMA 9 is plotted in blue.
EMA 15 is plotted in orange.
Provides a clear visual representation of the EMAs on the chart.

User-Friendly Settings:

Customizable parameters via an input field to adapt the strategy to various market conditions.
Purpose: This script helps traders identify strong bullish or bearish trends based on EMA crossovers and their differences, enabling them to make informed decisions. It is particularly useful for quick visual analysis of market trends on any timeframe.