EMA Rainbow

٣١ مارس ٢٠٢١

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 direction
Use 5 cloud to find pullbacks for entry points

When cloud is moving away (diverging) from other clouds - momentum is increasing
When cloud is increasing in diameter (expanding) - momentum is increasing

When cloud is moving towards other clouds (converging) - momentum is increasing
When cloud is decreasing in diameter (contracting) - momentum is increasing