EMA(120,200)

Indicator: EMA(120,200) for Bitcoin Pullback Strategy
Description:
This indicator plots two Exponential Moving Averages (EMAs) on the Bitcoin price chart:

EMA 120 (short-term trend)

EMA 200 (long-term trend)

The purpose is to identify potential buying opportunities ("go long") when Bitcoin's price pulls back to the "channel" between EMA 120 and EMA 200.

Key Features:
EMA Calculation:

ema120 = ta.ema(close, 120) → 120-period EMA (faster, reacts to recent price).

ema200 = ta.ema(close, 200) → 200-period EMA (slower, broader trend).

Visualization:

Both EMAs are plotted as white lines (color=#ffffff) with a thickness of 2.

Trading Logic (Implied):

When Bitcoin's price retraces (pulls back) to the zone between EMA 120 and EMA 200, traders may consider entering long positions, assuming the overall uptrend remains intact.

This strategy leverages the idea that EMAs act as dynamic support levels during uptrends.

How to Use It:
Uptrend Confirmation:

Ensure EMA 120 is above EMA 200 (bullish alignment).

Pullback Entry:

Wait for the price to dip near the EMA 120-200 channel.