This study draws a T3 Moving average Coloured Ribbon based on a Fast and Slow T3 MAs. Combine with an alert indicator like "Traders Dynamic Index Indicator Alert v0.1 by JustUncleL" to get a good trading method (See my comment following).
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R3 Updates:
Made updates for Pinescript version 3 Compliance.
Allow anchor option to be used for Days and Weeks.
Allow option to use standard 3-tone bar colouring, or 6-tone Grab candle Colouring
Added named colour constants, to include fully opaque colours, a work around for bar colouring transparency bug.
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... R4.2 Updates
Added Alert Buy/Sell exit options.
Added alarms for TradingView's Alarm Subsystem.
Added implied GPL Copyright notice.
Some coding efficiency and some variable name changes to make it easier to read.
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... Minor Bug fix
Corrected calculation for Anchor when using non-Intraday charts (ie Daily,Weekly,Monthly).