Super Cloud Support and Resistance Signal [5ema]

Aug 28, 2023

This indicator can supply the trending and signal.

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How to calculate?

• The cloud be create by the min/max of the EMA lines:
  + (avg(EMA(source, 20), EMA(source, 50), EMA(source, 200), EMA(source, 460), EMA(source, 610))
  + with source = high / low / open and close.
  
• The signal bar is a reversal candle pattern such as engulfing, hammer, ....
  
• For avoid to against the trend, use the number left bars are completely above or below the cloud.
  
  

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How to set up?

• Input the number left bars to get the number left bars are completely above or below the cloud. Its purpose is avoid to get signal against the trend. Can set it bigger than 2.
  
• Can filter the signal only buy or only sell to follow the current trend.
  

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How to use?

• Refer the trend cloud:
  
• Can refer the signal:
  
• Make an alert when signal appear.
  

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This indicator is for reference only, you need your own method and strategy.
If you have any questions, please let me know in the comments.

Aug 28, 2023

Release Notes

Update:
Add the bool of the number left bars.

Aug 30, 2023

Release Notes

Update:
- Change bar condition.

Aug 30, 2023

Release Notes

Update:
Bar condition.

Aug 31, 2023

Release Notes

Update bar conditions.