This is Similar to the BTD channels that I had posted here before, except those delt with multiple TimeFrames, these Clouds are made by using multiple BTD Lengths, Just like BenTen's conservative version of the BTD. Shoutout to Chewie76 who came up with the idea for the multiple lengths and adding clouds (good stuff man).
It acts very similar to BenTen's conservative version, but there are some advantages of the clouds.
Some key takeaways from analyzing how it reacts to price:
It acts very similar to BenTen's conservative version, but there are some advantages of the clouds.
Some key takeaways from analyzing how it reacts to price:
- It will show you a bearish or bullish sentiment by which cloud is open at the time (Green = Bullish, Red = Bearish)
- If you have a solid long green cloud while bullish and notice a red cloud starting to form above price, there's a good chance of price turning around.
- It gives you a very good aspect of where a bounce could be occurring, when teamed up with your other indicators, you can sometimes pinpoint the bounce.
- This Works great along side of Chewies76's Hotzone Indicator. You will notice Hotzone reaching over 65 while price is coming up to a cloud. (good chance to get out or short)
- It works on all timeframes really well
- If you notice price go outside of the top or bottom line a decent amount, it will SNAP back into the channel.
- and of course, just like any other "Bands" indicator, the wider the lines are apart, the higher the volatility
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