OPEN-SOURCE SCRIPT

Willonacci EMA Clouds v2

A technical tool designed for profitable trend-following.

These are a combination of Moving Averages (Simple and Exponential).

Significance:

5/13 EMA Cloud - Trade Management for Momentum names

21/34 EMA Cloud - Short-Term Buy/Sell Zones

48 EMA/50 SMA Cloud - Mid-Term Buy/Sell Zones

For BIAS, I tend to lean more into the 21 EMA.

Daily 21 EMA - Indicates the Strength of the Short-Term Trend

Weekly 21 EMA - Indicates the Strength of the Overall market trend.

Also includes Higher-Timeframe EMAs (8, 21 and 34 EMAs as well as the 50 SMA on the Weekly chart) for "Bigger Picture" Trading.

Based on my Quantitative Analysis and Historical Back-testing over a 20-year period, these are the best set of moving averages out there for catching power trends and momentum moves.

PS: You can uncheck the Higher Timeframe EMAs in the Settings tab to avoid clustering your charts. I personally like having the Weekly 8 and 21 EMAs ON if we see a significant pullback in the markets. This helps me to stay in tune with the overall market trend.

Enjoy!!!


Moving AveragesmultitimeframeTrend Analysis

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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