OPEN-SOURCE SCRIPT

EMA Rainbow

2 638
Based on Ripsters EMA clouds, this :
adds an 6 section EMA rainbow to act as DYNAMIC support and resistance levels, that you never have to set manually
splits the 5-12 cloud into 2 parts, as opposed to using a 8-9 centerline. More visually pleasing and intuitive to use

When 300 cloud and 25 cloud are both bullish or bearish - look to take positions in that direction
Use 5 cloud to find pullbacks for entry points

When cloud is moving away (diverging) from other clouds - momentum is increasing
When cloud is increasing in diameter (expanding) - momentum is increasing

When cloud is moving towards other clouds (converging) - momentum is increasing
When cloud is decreasing in diameter (contracting) - momentum is increasing

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.