******THIS IS NOT TRADING ADVICE - THERE ARE NO GUARANTEES - USE AT YOUR OWN RISK******
Plots the 9 and 20 period exponential moving averages (EMA) and paints a cloud between, visually identifiying the intraday trend and the strength of it. Green cloud for long, red cloud for short. The thicker the cloud the stronger the trend. Long play entry is when the 9 EMA crosses above the 20 EMA causing the cloud to turn green, opposite for short.
Aggressive entry is at the close of the bar that causes the cross to happen. Conservative entry is when the second bar after the cross closes above the 9 EMA and is in the direction of the play.
Exits can happen when price closes in the cloud or on the opposite side of the cloud or when the averages cross in the opposite direction of the trade depending on the individual's risk tolerance.
******THIS IS NOT TRADING ADVICE - THERE ARE NO GUARANTEES - USE AT YOUR OWN RISK******
Notas de prensa
⋅
Corrected comments and removed unused script.
Notas de prensa
⋅
Added bubbles to indicate if Calls or Puts are called for. Also converted to Pine V5.
Thank you very much for this indicator. I use it at market open on the lower timeframes to help take the first trend based trade of the day. I use it in conjunction with order blocks, fair value gaps and with the stochastic. I really appreciate the added visual. I've only had it for two weeks and have won six out of ten trades. I'll gladly take those odds any day!