11/09/2020 |
TrendSpider Software Update: New Custom Indicators Added
Today we are happy to release three new custom indicators! Live in your application check out the “MA Cloud by Ripster“, “MA Ribbon by Steve Burns“, and the “Range/Previous Session” indicators. Read below for a brief description of each and their purpose. Enjoy!
MA Cloud by Ripster
EMA Cloud System is a Trading System Invented by Ripster where areas are shaded between two desired EMAs. The concept implies the EMA cloud area serves as support or resistance for Intraday & Swing Trading. This can be utilized effectively on 10 Min for day trading and 1Hr/Daily for Swings. Ripster himself utilizes various combinations of the 5-12, 34-50, 8-9, 20-21 EMA clouds but the possibilities are endless to find what works best for you.
“Ideally, 5-12 or 5-13 EMA cloud acts as a fluid trendline for day trades. 8-9 EMA Clouds can be used as pullback Levels –(optional). Additionally, a high-level price over or under 34-50 EMA clouds confirms either bullish or bearish bias on the price action for any timeframe” – Ripster
MA Ribbon by Steve Burns
The moving averages in the Steve Burns Ribbon can be a trend and swing trading tools in technical analysis. They quantify the direction and momentum of existing moves on a chart.
Moving averages filter for market sentiment in different time frames when price remains above one for multiple days.
- 5-day EMA- Momentum
- 10-day EMA- Short-term trend
- 20-day EMA- Reversion to the mean
- 30-day EMA Swing Filter
- 50-day EMA- Pullback in an uptrend
Price becomes bullish in the timeframes of the moving averages it stays above.
The more moving averages price remains above the more bullish the chart is.
Here are moving average crossover signals that can signal a bullish entry on a chart in a long-term uptrend. When the short-term moving average crosses and closes over the long-term moving average that is the entry signal. A stop loss should be placed at entry based on personal risk tolerance. A trailing stop should be used on winning trades based on open profit-risk parameters.
- 5-day / 20-day ema crossover: Flying Eagle crossover
- 5-day / 30-day ema crossover: Flying Falcon Crossover
- 10-day / 30-day ema crossover: Flying Squirrel Crossover
- 10-day / 50-day ema crossover: Flying Dragon Crossover
The more crossover signals that a chart has at one time the more bullish it is.
Here are moving average cross unders that can signal a bearish entry on a chart in a long-term downtrend. These can be used to go to cash, or signals for short selling based on the long-term chart trend.
- 5-day / 20-day ema cross under: Lame Duck cross under
- 10-day / 50-day ema cross under: Loch Ness Monster cross under
The biggest enemy of moving averages is high volatility. Crossover signals help filter out most of the noise of volatility and show the trend.
Range/Previous Session
This indicator now supports MTFA analysis which allows you to plot a higher time frame range on a lower timeframe chart. The example below marks the weekly candle range on a 4 hr chart with red added to the top range to show potential resistance and green added to the bottom range to show potential support.
