MMD clouds (+diamonds) — Indicator by red1939

This tool is visualizing Mariusz Maciej Drozdowski's (MMD) clouds; it's is based on pairs of EMA + SMA that define the trend and potential resistance & support zones.

Diamond marking is tuned to show only very clear formations consisting on one inner diamond (swing diamonds are out). This way you get much better (reliable) diamonds, but miss some less obvious.

Release Notes:

* tickerid is used instead of ticker so that synthetic instruments are supported (A/B, etc.)
* Updated the script to V4

Release Notes:

Cleared section for calculating diamonds and make it more strict

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 a publication is governed by House Rules. You can favorite it to use it on a chart.

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 TradingView. Read more in the Terms of Use.

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