Adv EMA Cloud v6 (ADX, Alerts)

31 Mac

Summary:

This indicator provides a multi-faceted view of market trends using Exponential Moving Averages (EMAs) arranged in visually intuitive clouds, enhanced with an optional ADX-based range filter and configurable alerts for key market conditions. It aims to help traders quickly gauge trend alignment across short, medium, and long timeframes while filtering signals during potentially choppy market conditions.

Key Features:

Multiple EMAs: Displays 10-period (Fast), 20-period (Mid), and 50-period (Slow) EMAs.

Long-Term Trend Filter: Includes a 200-period EMA to provide context for the overall dominant trend direction.

Dual EMA Clouds:

Fast/Mid Cloud (10/20 EMA): Fills the area between the 10 and 20 EMAs. Defaults to Green when 10 > 20 (bullish short-term momentum) and Red when 10 < 20 (bearish short-term momentum).

Mid/Slow Cloud (20/50 EMA): Fills the area between the 20 and 50 EMAs. Defaults to Aqua when 20 > 50 (bullish mid-term trend) and Fuchsia when 20 < 50 (bearish mid-term trend).

Optional ADX Range Filter: Uses the Average Directional Index (ADX) to identify potentially non-trending or choppy markets. When enabled and ADX falls below a user-defined threshold, the EMA clouds will turn grey, visually warning that trend-following signals may be less reliable.

Configurable Alerts: Provides several built-in alert conditions using Pine Script's alertcondition function:

Confluence Condition: Triggers when a 10/20 EMA crossover occurs while both EMA clouds show alignment (both bullish/green/aqua or both bearish/red/fuchsia) and price respects the 200 EMA filter and the ADX filter indicates a trend (if filters are enabled).

MA Filter Cross: Triggers when price crosses above or below the 200 EMA filter line.

Full Alignment Start: Triggers on the first bar where full bullish or bearish alignment occurs (both clouds aligned + MA filter respected + ADX trending, if filters are enabled).

How It Works:

EMA Calculation: Standard Exponential Moving Averages are calculated for the 10, 20, 50, and 200 periods based on the closing price.

Cloud Creation: The fill() function visually shades the area between the 10 & 20 EMAs and the 20 & 50 EMAs.

Cloud Coloring: The color of each cloud is determined by the relationship between the two EMAs that define it (e.g., if EMA 10 is above EMA 20, the first cloud is bullish-colored).

ADX Filter Logic: The script calculates the ADX value. If the "Use ADX Trend Filter?" input is checked and the calculated ADX is below the specified "ADX Trend Threshold", the script considers the market potentially ranging.

ADX Visual Effect: During detected ranging periods (if the ADX filter is active), the plotCloud12Color and plotCloud23Color variables are assigned a neutral grey color instead of their normal bullish/bearish colors before being passed to the fill() function.

Alert Logic: Boolean variables track the specific conditions (crossovers, cloud alignment, filter positions, ADX state). The alertcondition() function creates triggerable alerts based on these pre-defined conditions.

Potential Interpretation (Not Financial Advice):

Trend Alignment: When both clouds share the same directional color (e.g., both bullish - Green & Aqua) and price is on the corresponding side of the 200 EMA filter, it may suggest a stronger, more aligned trend. Conversely, conflicting cloud colors may indicate indecision or transition.

Dynamic Support/Resistance: The EMA lines themselves (especially the 20, 50, and 200) can sometimes act as dynamic levels where price might react.

Range Warning: Greyed-out clouds (when ADX filter is enabled) serve as a visual warning that trend-based strategies might face increased difficulty or whipsaws.

Confluence Alerts: The specific confluence alerts signal moments where multiple conditions align (crossover + cloud agreement + filters), which some traders might view as higher-probability setups.

Customization:

All EMA lengths (10, 20, 50, 200) are adjustable via the Inputs menu.

The ADX length and threshold are configurable.

The MA Trend Filter and ADX Trend Filter can be independently enabled or disabled.

Disclaimer:

This indicator is provided for informational and educational purposes only. Trading financial markets involves significant risk. Past performance is not indicative of future results. Always conduct your own thorough analysis and consider your risk tolerance before making any trading decisions. This indicator should be used in conjunction with other analysis methods and tools. Do not trade based solely on the signals or visuals provided by this indicator.

13 Apr

Nota Keluaran

Summary:

This indicator provides a multi-faceted view of market trends using Exponential Moving Averages (EMAs) arranged in visually intuitive clouds, enhanced with an optional ADX-based range filter and configurable alerts for key market conditions. It aims to help traders quickly gauge trend alignment across short, medium, and long timeframes while filtering signals during potentially choppy market conditions.

Key Features:

Multiple EMAs: Displays 10-period (Fast), 20-period (Mid), and 50-period (Slow) EMAs.

Long-Term Trend Filter: Includes a 200-period EMA to provide context for the overall dominant trend direction.

Dual EMA Clouds:

Fast/Mid Cloud (10/20 EMA): Fills the area between the 10 and 20 EMAs. Defaults to Green when 10 > 20 (bullish short-term momentum) and Red when 10 < 20 (bearish short-term momentum).

Mid/Slow Cloud (20/50 EMA): Fills the area between the 20 and 50 EMAs. Defaults to Aqua when 20 > 50 (bullish mid-term trend) and Fuchsia when 20 < 50 (bearish mid-term trend).

Optional ADX Range Filter: Uses the Average Directional Index (ADX) to identify potentially non-trending or choppy markets. When enabled and ADX falls below a user-defined threshold, the EMA clouds will turn grey, visually warning that trend-following signals may be less reliable.

Configurable Alerts: Provides several built-in alert conditions using Pine Script's alertcondition function:

Confluence Condition: Triggers when a 10/20 EMA crossover occurs while both EMA clouds show alignment (both bullish/green/aqua or both bearish/red/fuchsia) and price respects the 200 EMA filter and the ADX filter indicates a trend (if filters are enabled).

MA Filter Cross: Triggers when price crosses above or below the 200 EMA filter line.

Full Alignment Start: Triggers on the first bar where full bullish or bearish alignment occurs (both clouds aligned + MA filter respected + ADX trending, if filters are enabled).

How It Works:

EMA Calculation: Standard Exponential Moving Averages are calculated for the 10, 20, 50, and 200 periods based on the closing price.

Cloud Creation: The fill() function visually shades the area between the 10 & 20 EMAs and the 20 & 50 EMAs.

Cloud Coloring: The color of each cloud is determined by the relationship between the two EMAs that define it (e.g., if EMA 10 is above EMA 20, the first cloud is bullish-colored).

ADX Filter Logic: The script calculates the ADX value. If the "Use ADX Trend Filter?" input is checked and the calculated ADX is below the specified "ADX Trend Threshold", the script considers the market potentially ranging.

ADX Visual Effect: During detected ranging periods (if the ADX filter is active), the plotCloud12Color and plotCloud23Color variables are assigned a neutral grey color instead of their normal bullish/bearish colors before being passed to the fill() function.

Alert Logic: Boolean variables track the specific conditions (crossovers, cloud alignment, filter positions, ADX state). The alertcondition() function creates triggerable alerts based on these pre-defined conditions.

Potential Interpretation (Not Financial Advice):

Trend Alignment: When both clouds share the same directional color (e.g., both bullish - Green & Aqua) and price is on the corresponding side of the 200 EMA filter, it may suggest a stronger, more aligned trend. Conversely, conflicting cloud colors may indicate indecision or transition.

Dynamic Support/Resistance: The EMA lines themselves (especially the 20, 50, and 200) can sometimes act as dynamic levels where price might react.

Range Warning: Greyed-out clouds (when ADX filter is enabled) serve as a visual warning that trend-based strategies might face increased difficulty or whipsaws.

Confluence Alerts: The specific confluence alerts signal moments where multiple conditions align (crossover + cloud agreement + filters), which some traders might view as higher-probability setups.

Customization:

All EMA lengths (10, 20, 50, 200) are adjustable via the Inputs menu.

The ADX length and threshold are configurable.

The MA Trend Filter and ADX Trend Filter can be independently enabled or disabled.

Disclaimer:

This indicator is provided for informational and educational purposes only. Trading financial markets involves significant risk. Past performance is not indicative of future results. Always conduct your own thorough analysis and consider your risk tolerance before making any trading decisions. This indicator should be used in conjunction with other analysis methods and tools. Do not trade based solely on the signals or visuals provided by this indicator.
Open-source script
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by

Update 1:

Summary of Changes

1. Inputs: Added group, tooltip, and inline parameters to all input.* functions for a much cleaner and more informative user interface in the indicator settings panel. Grouped related settings together (EMAs, Trend Filters).

2. Variable Names: Renamed ema1_val, ema2_val, ema3_val, and maFilter_val to ema1, ema2, ema3, and maFilter respectively for brevity. Updated all references throughout the script.

3. Comments: Added more detailed comments explaining the purpose of certain calculation blocks (e.g., isTrending, cloud states, crossover logic) and the specific conditions triggering each alert.

4. Alert Messages: Slightly refined alert messages for clarity and conciseness. Added the value of the Filter MA to the cross alerts using {{plot(...)}}.

This version is functionally identical to the original but offers a better user experience through the settings panel and improved code readability with updated variable names and comments.