These clouds are built using an SMA, ATR, and Fibs to create a potential high and low type of channel system. The SMA length is customizable via a user input, but the default value is 5.
Intended use:
To provide educational content about the short term movement of an asset. Can be used on any time frame.
Disclaimer:
NOT intended to be a sole source of Technical Analysis or anything more than an educational tool!
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Added Fib Band inside the upper and lower cloud
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Updated the UI to clean up the look and removed one of the fib deviations
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Added a new ema crossover band to replace just the ema line, as well as made the ATR clouds optional so you can turn them on or off if you just simply wanted the ema crossover.
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Changed the ATR Band logic so it should no longer repaint (the clouds are no longer based on the current candles close, therefore the cloud shouldnt be moving in real time on the real time candle). Also changed the UI a touch.
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Realized it was still repainting due to using the built in ATR, rewrote my own ATR formula to avoid repainting. Will monitor repaint situation. The goal is to not have it repaint.
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modified the inner crossover band a little bit.... added version number in settings.
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changed up a few things, trying to get better R/R setups with the fib levels.
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Completely rewrote the logic here and changed up the UI. The core idea is still the same, its still a fib based deviation cloud system based off of ATR.