This is a simple script intended for use with Bitcoin only.
Inspired by Lyn Alden's 2 years SMA channels
I decided to make one for myself just for fun but ended up adding a few more lines of code
the bands show Fibonacci levels in and outside of the channels.
The base line uses a 730 day simple moving average.
Each zones can be considered as a general...
This script is a Pinescript adaptation of this FXCM/LUA script
Draws a flexible number of moving averages between 1 and 5 - with a end result looking like a rainbow
Each Moving Average is defined as a Moving Average of the previous MA
The first MA is based on candle close
MA = MA of Price
MA = MA of MA
MA = MA of MA
I've been interested in 'Multiple Moving Averages' lately and came across another script on here for a Rainbow MA.
Unfortunately its source is private and I wanted to try things out with other MA types so I put this together.
I also wanted to make it a seperate study so I could view regular bars without the clutter.
The general rule of thumb with these is the...
This script color codes the price bars based on the close-value position relative to a moving average ribbon. Rainbow colors used for simplicity and readability.
Use to study which colors are most likely to produce continuation vs. reversal.
**** MUST use bars, not Japanese candles! ****
Mini Line Chart show a small line chart beside the main chart. Detail of Mini Line chart as below:
1.Line chart adjustable:
- Size: number of bar to show as line chart
- Source: Open/ High/ Low/ Close/ HL2/ HLC3/ OHLC4
- Color ...
To Survive in Bear Markets or in Horizontal Markets;
EMA Rainbow ;
EMA Rainbow is a rainbow which is formed by multiplying the moving average by certain proportions and reflecting up and down on the ema200. According to the observations, dark green areas are strong buying areas, dark red areas are strong sales regions. Trading decisions can be made according to...
NOTE: Because the originally released script failed to comply with the House Rule in the description, it was banned. After revising and reviewing the description, it is republished again. Please forgive the inconvenience caused.
The Rainbow Charts indicator is a technical analysis tool that follows trend. It helps traders to visualize a...
Based on Ripsters EMA clouds, this :
adds an 6 section EMA rainbow to act as DYNAMIC support and resistance levels, that you never have to set manually
splits the 5-12 cloud into 2 parts, as opposed to using a 8-9 centerline. More visually pleasing and intuitive to use
When 300 cloud and 25 cloud are both bullish or bearish - look to take positions in that...