The EMA Cloud
The idea of this trading system from the EMA with a Mediante price from the EMA indicators is based exactly 100% from Ripster47 trading system, me is just the person to create it on the MT5 platform, but with alerts for your own buy/sell settings.
Hereby I make a copy from Ripster47 explanation for using that system:
EMA 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 "
It is very interesting type for daytrader or swing trader to use it.
- Settings exactly as ripster47 described, anyway trader can make the settings according to their own
- Alerts for certain shaded setup for buy and sell
- Colors change and settings as needed
-Using for all time frames