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QuantCat Rainbow Ribbon
QuantCat Rainbow Ribbon
The Rainbow Ribbon is a conglomerate of exponential moving averages of increasing time period plotted on a graph. The ribbon is used to help identify the strength of a trend while also helping spot timely market reversals.
It consists of a 20, 25, 30, 35, 40, 45, and 50 EMA which are interchangeable values for your preference.
Generally in bullish conditions, the price action will be trading on top of the ribbon with the top EMA’s in the ribbon acting as support. In bearish conditions, the price action will be trading underneath the ribbon with the bottom EMA’s acting as resistance.
As shown in the chart above, when the candles penetrate the Rainbow Ribbon and the EMA’s start to converge/cross, market reversal probabilities increase. With this information we can take trades or add to the general consensus of a potential trade.
Be sure to follow us so you're kept up with our projects and any updates to the script!
The Rainbow Ribbon is a conglomerate of exponential moving averages of increasing time period plotted on a graph. The ribbon is used to help identify the strength of a trend while also helping spot timely market reversals.
It consists of a 20, 25, 30, 35, 40, 45, and 50 EMA which are interchangeable values for your preference.
Generally in bullish conditions, the price action will be trading on top of the ribbon with the top EMA’s in the ribbon acting as support. In bearish conditions, the price action will be trading underneath the ribbon with the bottom EMA’s acting as resistance.
As shown in the chart above, when the candles penetrate the Rainbow Ribbon and the EMA’s start to converge/cross, market reversal probabilities increase. With this information we can take trades or add to the general consensus of a potential trade.
Be sure to follow us so you're kept up with our projects and any updates to the script!
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면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.