Cloud Bunching [5ema]

24. März 2023

Reused some functions from (i believe made by):

• ©paaax: The table position function.
• QuantNomad: The function calculated value and array screener for 40+ instruments.
  

How it uses:

• Gives signal when the cloud is bunching with ratio smaller than the set ratio and the close price breaking out the cloud.
  
• Track 40 different symbols, on any timeframe to follow and alert.
  
• When a symbol has a signal, it will display on the chart and send an alert.
  

How it works:

• The cloud created by 5 EMA (20, 50, 200, 460, 610). Upper Cloud is max EMA , Lower Cloud is min EMA . Center line is averange (5 EMA )
  
• If the ratio upper / lower < input bunching (%) -> change color of cloud.
  
• Get the signal if: the close price break out cloud (with bar is shooting, or hammer ,...) and high volume (or not).
  
• With another symbols (max 40 ) also use that function with any time frame. By request.security() and array function.
  

How it setting:

• Change the bunching rate (%) of the clouds for any symbols.
  
• Change the percentage (%) of the close price that breaks out of the bunching cloud.
  
• Choose volume condition.
  
• Show or turn off the cloud, table.
  
• Select the symbol to follow.
  
• Choose a timeframe to follow other symbols.
  

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This indicator is for reference only, you need your own method and strategy.
If you have any questions, please let me know in the comments.

27. März 2023

Versionshinweise

Change signal shape and color
Reason Pine update not support.
Thanks!

27. März 2023

Versionshinweise

Change Option Volume condition: Yes - > No

17. Aug. 2023

Versionshinweise

Update:

1. 1. Change signal shape, delete text singal, change size.
   
2. 2. Change Bar condition
   
3. 3. Change cloud style, color
   
4. 4. Delete center line cloud