Fibonacci Zone + EMA Ribbon

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This script combines two well-known concepts into a single indicator: the Fibonacci Zone and the EMA Ribbon.
The Fibonacci Zone highlights potential support and resistance levels derived from recent price ranges, helping traders identify key breakout or reversal areas.
The EMA Ribbon overlays multiple exponential moving averages, providing a clear visual representation of market trend and momentum.
Together, these two tools allow traders to assess both dynamic support/resistance and trend direction at a glance, making it easier to spot confluence zones and high-probability trading opportunities.

This indicator can be effectively applied on shorter timeframes such as 5m, 15m, or 30m for active trading.
For additional confirmation of medium- to long-term trend direction, it is recommended to complement it with the 20-period SMA from the 4H timeframe.

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Phát hành các Ghi chú

Bars that meet specific volume conditions are highlighted in neon green and neon pink.

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Phát hành các Ghi chú

Code translated into English

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Phát hành các Ghi chú

Added option optimization and momentum candle color toggle feature