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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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免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。