OPEN-SOURCE SCRIPT
heaven rope
[1/2, 11:59 PM] Meta AI: Here's a brief description of a price action indicator that works similarly to the Super Moving Channel (SMC) indicator:
Indicator Name: Moving Average Cloud (MAC)
*Description:*
The Moving Average Cloud (MAC) is a price action indicator that combines multiple moving averages to create a "cloud" that surrounds the price action. This cloud acts as a dynamic support and resistance zone, helping traders identify trends, reversals, and potential trading opportunities.
*Key Components:*
1. *Multiple Moving Averages*: The MAC uses a combination of short-term and long-term moving averages to create the cloud.
2. *Cloud Formation*: The moving averages are plotted on the chart, creating a cloud-like formation that adapts to changing market conditions.
3. *Support and Resistance*: The cloud acts as a dynamic support and resistance zone, helping traders identify potential trading opportunities.
*Trading Strategies:*
1. *Trend Following*: Use the MAC to identify the trend direction and follow it.
2. *Mean Reversion*: Look for price action to revert to the mean (the cloud) after a significant move.
3. *Breakout Trading*: Trade breakouts from the cloud, using the cloud as a reference point for support and resistance.
The Moving Average Cloud (MAC) indicator provides a unique perspective on price action, helping traders make more informed decisions.
[1/2, 11:59 PM] Meta AI: Here's a brief description of a price action indicator that works similarly to the Super Moving Channel (SMC) indicator:
Indicator Name: Moving Average Cloud (MAC)
*Description:*
The Moving Average Cloud (MAC) is a price action indicator that combines multiple moving averages to create a "cloud" that surrounds the price action. This cloud acts as a dynamic support and resistance zone, helping traders identify trends, reversals, and potential trading opportunities.
*Key Components:*
1. *Multiple Moving Averages*: The MAC uses a combination of short-term and long-term moving averages to create the cloud.
2. *Cloud Formation*: The moving averages are plotted on the chart, creating a cloud-like formation that adapts to changing market conditions.
3. *Support and Resistance*: The cloud acts as a dynamic support and resistance zone, helping traders identify potential trading opportunities.
*Trading Strategies:*
1. *Trend Following*: Use the MAC to identify the trend direction and follow it.
2. *Mean Reversion*: Look for price action to revert to the mean (the cloud) after a significant move.
3. **Breakout Trading
Indicator Name: Moving Average Cloud (MAC)
*Description:*
The Moving Average Cloud (MAC) is a price action indicator that combines multiple moving averages to create a "cloud" that surrounds the price action. This cloud acts as a dynamic support and resistance zone, helping traders identify trends, reversals, and potential trading opportunities.
*Key Components:*
1. *Multiple Moving Averages*: The MAC uses a combination of short-term and long-term moving averages to create the cloud.
2. *Cloud Formation*: The moving averages are plotted on the chart, creating a cloud-like formation that adapts to changing market conditions.
3. *Support and Resistance*: The cloud acts as a dynamic support and resistance zone, helping traders identify potential trading opportunities.
*Trading Strategies:*
1. *Trend Following*: Use the MAC to identify the trend direction and follow it.
2. *Mean Reversion*: Look for price action to revert to the mean (the cloud) after a significant move.
3. *Breakout Trading*: Trade breakouts from the cloud, using the cloud as a reference point for support and resistance.
The Moving Average Cloud (MAC) indicator provides a unique perspective on price action, helping traders make more informed decisions.
[1/2, 11:59 PM] Meta AI: Here's a brief description of a price action indicator that works similarly to the Super Moving Channel (SMC) indicator:
Indicator Name: Moving Average Cloud (MAC)
*Description:*
The Moving Average Cloud (MAC) is a price action indicator that combines multiple moving averages to create a "cloud" that surrounds the price action. This cloud acts as a dynamic support and resistance zone, helping traders identify trends, reversals, and potential trading opportunities.
*Key Components:*
1. *Multiple Moving Averages*: The MAC uses a combination of short-term and long-term moving averages to create the cloud.
2. *Cloud Formation*: The moving averages are plotted on the chart, creating a cloud-like formation that adapts to changing market conditions.
3. *Support and Resistance*: The cloud acts as a dynamic support and resistance zone, helping traders identify potential trading opportunities.
*Trading Strategies:*
1. *Trend Following*: Use the MAC to identify the trend direction and follow it.
2. *Mean Reversion*: Look for price action to revert to the mean (the cloud) after a significant move.
3. **Breakout Trading
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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