EMA Cloud Bands For ThinkOrSwim

jhogue78

New member
Sorry if this is obvious but I'm looking for an indicator that will create an EMA cloud that stays a predetermined distance from the preset EMA?
Example have an upper and lower line (cloud) that stays $.10 away from the 20 EMA at all times. I feel like this would weed out a lot of chop
 
Solution
Sorry if this is obvious but I'm looking for an indicator that will create an EMA cloud that stays a predetermined distance from the preset EMA?
Example have an upper and lower line (cloud) that stays $.10 away from the 20 EMA at all times. I feel like this would weed out a lot of chop


this will draw 2 clouds, above and below an average line.

Code:
# ema_offset_cloud_01

#https://usethinkscript.com/threads/ema-cloud-bands-for-thinkorswim.14115/
#EMA cloud bands

def na = double.nan;
def bn = barnumber();
def price = close;
input cloud_offset = 0.1;

input ma1_len = 20;
input ma1_type =  AverageType.EXPONENTIAL;
def ma1 = MovingAverage(ma1_type, price, ma1_len);

input show_average_line = yes;
plot z1 = if show_average_line...
Sorry if this is obvious but I'm looking for an indicator that will create an EMA cloud that stays a predetermined distance from the preset EMA?
Example have an upper and lower line (cloud) that stays $.10 away from the 20 EMA at all times. I feel like this would weed out a lot of chop


this will draw 2 clouds, above and below an average line.

Code:
# ema_offset_cloud_01

#https://usethinkscript.com/threads/ema-cloud-bands-for-thinkorswim.14115/
#EMA cloud bands

def na = double.nan;
def bn = barnumber();
def price = close;
input cloud_offset = 0.1;

input ma1_len = 20;
input ma1_type =  AverageType.EXPONENTIAL;
def ma1 = MovingAverage(ma1_type, price, ma1_len);

input show_average_line = yes;
plot z1 = if show_average_line then ma1 else na;
z1.setdefaultcolor(getcolor(1));
#z1.setlineweight(1);
z1.hidebubble();

def cldtop = (ma1 + cloud_offset);
# cldmid = ema line
def cldbot = (ma1 - cloud_offset);


input show_cloud = yes;
def zcldtop = if show_cloud then cldtop else na;
def zcldbot = if show_cloud then cldbot else na;
addcloud(zcldtop, ma1, color.gray);
addcloud(ma1, zcldbot, color.gray);
#

ZCE9TTP.jpg
 
Last edited by a moderator:
Solution

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this will draw 2 clouds, above and below an average line.

Code:
# ema_offset_cloud_01

#https://usethinkscript.com/threads/ema-cloud-bands-for-thinkorswim.14115/
#EMA cloud bands

def na = double.nan;
def bn = barnumber();
def price = close;
input cloud_offset = 0.1;

input ma1_len = 20;
input ma1_type =  AverageType.EXPONENTIAL;
def ma1 = MovingAverage(ma1_type, price, ma1_len);

input show_average_line = yes;
plot z1 = if show_average_line then ma1 else na;
z1.setdefaultcolor(getcolor(1));
#z1.setlineweight(1);
z1.hidebubble();

def cldtop = (ma1 + cloud_offset);
# cldmid = ema line
def cldbot = (ma1 - cloud_offset);


input show_cloud = yes;
def zcldtop = if show_cloud then cldtop else na;
def zcldbot = if show_cloud then cldbot else na;
addcloud(zcldtop, ma1, color.gray);
addcloud(ma1, zcldbot, color.gray);
#

ZCE9TTP.jpg
I just now saw this reply. Looks great, appreciate your work on this!
 

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