EMA Trend Cloud with HH/LL Counter [RanAlgo]

28 mag

Indicator Overview:
This indicator combines EMA-based trend analysis with pivot point detection to identify market trends and potential reversal points. It features:

EMA Cloud System: Dual cloud layers (8/22 EMA and 21/49 EMA) for trend visualization

Pivot Analysis: Identifies Higher Highs (HH), Lower Highs (LH), Higher Lows (HL), and Lower Lows (LL)

Counter System: Tracks daily and session counts of HH/LL patterns

Key Components:
EMA Configuration:

Fast EMAs: 8, 21, 22

Medium EMAs: 49, 50

Slow EMA: 100

Cloud formations between EMAs (8/22 and 21/49) with adjustable opacity

Trend Signals:

Buy signals when EMA8 crosses above EMA22 (green cloud)

Sell signals when EMA8 crosses below EMA22 (red cloud)

Additional confirmation from 21/49 EMA cloud

Pivot Point System:

Customizable lookback period (default 16 bars)

Four pivot types with customizable visuals:

HH (Higher High) - Green

HL (Higher Low) - Blue

LH (Lower High) - Red

LL (Lower Low) - Orange

Extended lines with adjustable length

Counter Table:

Displays daily counts of HH and LL patterns

Six position options for table placement

Color-coded to match pivot line colors

Trading Rules:
Trend Following:

Go long when both clouds are green (EMA8 > EMA22 AND EMA21 > EMA49)

Go short when both clouds are red (EMA8 < EMA22 AND EMA21 < EMA49)

Pivot Confirmation:

Strong uptrend confirmed by consecutive HH and HL patterns

Strong downtrend confirmed by consecutive LH and LL patterns

Potential reversals when pattern sequences break

Counter Interpretation:

Increasing HH count suggests strong bullish momentum

Increasing LL count suggests strong bearish momentum

Divergences between price and counts may signal weakening trends

Customization Options:
Adjustable EMA lengths (hardcoded but can be modified)

Cloud opacity controls

Pivot line colors, styles, and thickness

Lookback period for pivot detection

Line extension length

Table visibility and positioning

Display Features:
Clean visual design that doesn't obscure price action

Non-repainting elements (uses confirmed pivots only)

Minimal screen space usage with optional table

This indicator complies with TradingView's guidelines by:

Using non-repainting calculations (confirmed pivots only)

Providing clear source code with comments

Offering comprehensive customization without overcrowding

Including proper input validation

Maintaining readable visuals at all zoom levels

The tool is designed for trend identification and confirmation, suitable for various timeframes and instruments. Users should combine it with other analysis techniques for best results.

29 mag

Note di rilascio

Make some improvements Change HH, HL Color to Green And LH, LL Color To Red For Better Understand Market Structure and Change the Name of Indicator