EMA Enveloper Indicator & a crazy prediction

EMAEnvelope indicator does just that, draws a nice user-defined period EMA envelope (overlay).

It also can highlight the Bull/Bear breaks using different colors
- Green : High > EMA_HIGH
- Lime : (High > EMA_HIGH) and (Low > EMA_HIGH)
- Orange : Low < EMA_LOW
- Red : (Low < EMA_LOW) and (High < EMA_LOW)

Background highlighting is user-configurable.

Now to the (crazy) prediction: Based on a 100-period EMAEnvelope, we may have to go down to ~427.3 before starting turning Green. Look at the 2 Orange/Red areas highlighted.

EMA 200 tells us a different story, BTW             .
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// @author LazyBear
// v01 - initial release
study(title = "EMAEnvelope [LazyBear]", shorttitle="EMAEnvelope[LB]", overlay=true)
src = close
HighlightColors = input(true, title="Bull/Bear highlights?", type=bool)

e=ema(close, length)
eu = ema(high, length)
el = ema(low, length)

plot(e, style=cross, color=aqua)
plot(eu, color=red, linewidth=2)
plot(el, color=lime, linewidth=2)

bull_color_normal = green
bull_color_strong = lime
bear_color_normal = orange
bear_color_strong = red
sidewise_color = blue

bull_f = (high > eu and low > el)
bear_f = (high < eu and low < el)
sidewise_f = (not bull_f) and (not bear_f)
b_color = bull_f ? bull_color_normal : (bear_f ? bear_color_normal : (sidewise_f ? sidewise_color : na))
d_color = (bull_f ? (low > eu ? bull_color_strong : b_color) : bear_f ? ( high < el ? bear_color_strong : b_color) : b_color)
bgcolor(HighlightColors ? d_color : na)

Thanks Lazy. You're a beautiful man.
LazyBear JimmyJambles
Thanks Jimmy

This just made my day :)
This played out really well. Feel bad for all those who got goxed, though :(

I am expecting this to go further down.
+1 Reply
Expanding on my EMA200 comment above:

If a 200 period EMAEnvelope is drawn, it actually shows only one breach, one bounce on EMA_HIGH till the recent touch. Extrapolating that, we may have 10-days "V" formation and 82days of consolidation before to-da-moon.

Approximately around 24th of May 2014. There you go, another crazy prediction :)

+2 Reply
LazyBear LazyBear
This is assuming we breach down and form a proper "V". If it bounces off EMA_HIGH upside and starts the rally I am screwed!
+1 Reply
LazyBear LazyBear
Potential bottom of "V" is 420

+1 Reply
grahvity LazyBear
This is crazy. 600 is the bottom.

+1 Reply
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