This one is a mix of colour-coded moving averages and Ichimoku
. It features two pairs of SMAs--default values of 9/20 and 50/200. Each SMA
will be green when it rises and red when it falls. The spaces between each pair will fill with green or red depending on which line is on top. 9 over 20 or 50 over 200 makes a green cloud; if 9 or 50 falls below, the cloud will switch to green.
There's also the Ichimoku
lagging span and a 35-period SMA
(grey) that can be used as a trailing stop loss guideline.
Ideal long setup:
- 9, 20, 50, and 200 SMA are all green
- both clouds are green
- lagging span is above historic price action
Ideal short setup:
- 9, 20, 50, and 200 SMA are all red
- both clouds are red
- lagging span is below historic price action