OPEN-SOURCE SCRIPT
Willonacci EMA Clouds v2
A technical tool designed for profitable trend-following.
These are a combination of Moving Averages (Simple and Exponential).
Significance:
5/13 EMA Cloud - Trade Management for Momentum names
21/34 EMA Cloud - Short-Term Buy/Sell Zones
48 EMA/50 SMA Cloud - Mid-Term Buy/Sell Zones
For BIAS, I tend to lean more into the 21 EMA.
Daily 21 EMA - Indicates the Strength of the Short-Term Trend
Weekly 21 EMA - Indicates the Strength of the Overall market trend.
Also includes Higher-Timeframe EMAs (8, 21 and 34 EMAs as well as the 50 SMA on the Weekly chart) for "Bigger Picture" Trading.
Based on my Quantitative Analysis and Historical Back-testing over a 20-year period, these are the best set of moving averages out there for catching power trends and momentum moves.
PS: You can uncheck the Higher Timeframe EMAs in the Settings tab to avoid clustering your charts. I personally like having the Weekly 8 and 21 EMAs ON if we see a significant pullback in the markets. This helps me to stay in tune with the overall market trend.
Enjoy!!!
These are a combination of Moving Averages (Simple and Exponential).
Significance:
5/13 EMA Cloud - Trade Management for Momentum names
21/34 EMA Cloud - Short-Term Buy/Sell Zones
48 EMA/50 SMA Cloud - Mid-Term Buy/Sell Zones
For BIAS, I tend to lean more into the 21 EMA.
Daily 21 EMA - Indicates the Strength of the Short-Term Trend
Weekly 21 EMA - Indicates the Strength of the Overall market trend.
Also includes Higher-Timeframe EMAs (8, 21 and 34 EMAs as well as the 50 SMA on the Weekly chart) for "Bigger Picture" Trading.
Based on my Quantitative Analysis and Historical Back-testing over a 20-year period, these are the best set of moving averages out there for catching power trends and momentum moves.
PS: You can uncheck the Higher Timeframe EMAs in the Settings tab to avoid clustering your charts. I personally like having the Weekly 8 and 21 EMAs ON if we see a significant pullback in the markets. This helps me to stay in tune with the overall market trend.
Enjoy!!!
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.
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