EMA Clouds are used for identifying trends. It helps to see moving averages as in a range especially when you look at them in Micro time frames like 1/5/10/15/30 mins. So these Clouds could be used for Intraday trading for identifying trends and pullbacks.
For example, on a 10min chart, once you see a parabolic move, don't take trade until the bar touches 5/13 or 8/9 EMA clouds.
There are other EMA cloud scripts available but this one gives you option to choose MA Type and Source in addition to providing all well known MA range in one script. You can modify the MA length as you wish. So you can disable one you don't want to see on the chart.
Added a feature so that you can choose whether or not show each MA Cloud. For instance, if you don't want EMA5 cloud (180-200), you can uncheck it in the settings to hide it.
Nota Keluaran
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Adding more detailed explanation on pullback and also how you could use DTR vs ATR label along with MA clouds.
Nota Keluaran
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Updating to v5 and also modified the script to use real OHLC if chart is set to Heikin Ashi candles.
This is awesome, as I trade clouds. But I cannot get the clouds to change colour when direction changes.I know very little scripting, tried but failed.
Is there any chnace you can add my EMAs for me with my colours- I dont think it would take you long at all as you know exactly what you are doing...if possible would greatly appreciare it.
EMA 72 & EMA 89- blue to green
EMA 216 & 267- red to pink
EMA 360 & 445- yellow to orange
sskcharts
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@peppamill, you should be change the settings for different EMA length you want and change the color within the settings. And also uncheck the EMAs that you don't want.
UnknownUnicorn6944916
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nice indicator. time to save anaysis
Gowda83638
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Hi Bro,
You've got outstanding scripts.
Quick favor. would you able to combine Multi Cloud, TTM and DTR vs ATR w RVol scripts into one single script.
This would be very helpful. Thank you