OPEN-SOURCE SCRIPT
EMA clouds (5/12 and 34/50)
This is a custom ema cloud script with a 5/12 cloud and a 34/50 cloud.
Personally, I used to trade with the 20 ema and 50 ema, but wanted something with a little more robust. These clouds are especially great for the first hour of market open since strong bullish stocks that have gapped up overnight tend to follow these trends.
For example, Tesla opened above the clouds and used them as support before running all day.
NIO happened to do a similar move.
Personally, I used to trade with the 20 ema and 50 ema, but wanted something with a little more robust. These clouds are especially great for the first hour of market open since strong bullish stocks that have gapped up overnight tend to follow these trends.
For example, Tesla opened above the clouds and used them as support before running all day.
NIO happened to do a similar move.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.