OPEN-SOURCE SCRIPT
Cloud Ribbon ++ by [JohnnySnow]
Inspired by my favorite EMA ribbon - "EMA Ribbon [Krypt]" by fskrypt.
This Ribbon ADD the option to choose the avarage algorithm of the ribbon [ "EMA", "SMA", "VWMA", "WMA", "HMA" ].
Created also to be more friendly to read along with trendlines and Fibonacci retracements.
For those like me that NOT use this ribbon to find exact price action but instead, to have a grasp of possible Support/Resistance strenght ahead.
High transparency lines and a configurable color palette for filling the background give the ribbon a look of support/ Resistance cloud Strenght.
Each MA length, line, and background color can be easily configured.
This Ribbon ADD the option to choose the avarage algorithm of the ribbon [ "EMA", "SMA", "VWMA", "WMA", "HMA" ].
Created also to be more friendly to read along with trendlines and Fibonacci retracements.
For those like me that NOT use this ribbon to find exact price action but instead, to have a grasp of possible Support/Resistance strenght ahead.
High transparency lines and a configurable color palette for filling the background give the ribbon a look of support/ Resistance cloud Strenght.
Each MA length, line, and background color can be easily configured.
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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