SUMA Fib Channels with JMA Ribbon Trendlines

vor 19 Stunden

I made this indicator because I was tired of drawing the lines everyday and adding fib lines, so I wanted to automated my daily process so I can be more productive,

-The Green Yellow and red line on the right side of the indicator are the Fib Regression
- The Green top of the line/sell the premium, wait for the price to fully stop and retest this area before you sell (double top or M pattern)
- Yellow is the 0.618 Possibly reversal and in most cases a highly likely area for price to comeback to this point.
- The Red/Buy price is at discount, Wait for the price to fully stop and retest this area before buying (double bottom or W pattern)

The channels lines are easy to read and self explanatory

- Price Above green lines or channel = bullish (always wait for retest and to break above resistance line (lines above price))
- Price Below red lines or channel = Bearish (always wait for retest and to break below support line (lines below price))

vor 19 Stunden

Versionshinweise

Adjusted the Madrid Ribbon so it looks like double ribbon short length and long length.