Bender Filtered MA Cloud with Buy Sell Signals

Bender MA Cloud is a powerful indicator that uses two moving averages filtered by standard deviation to create a "cloud" on the chart. The upper and lower bounds of the cloud could be key levels of support and resistance, and the indicator plots lines on the chart that reflects the average price of the stock over a specified period of time. The standard deviation is used to filter out noise and identify significant trends. Bender MA Cloud also generates signals based on the direction changes of the fast moving average, crosses of the cloud, and breaches of the cloud boundaries. This indicator is a useful tool for traders who want to make informed decisions based on reliable market trends and anticipate potential trade opportunities. (Video Demo Coming Soon)

Configurable Indicator Signals
Signal on :

• Pullbacks
  A pullback begins when the fast MA1 line changes direction and moves opposite to the cloud. The pullback is confirmed when the fast MA1 line returns to the direction of the cloud on the close of the bar. These signals can be fine-tuned using the invalidation settings below.
  
• Breaches
  A breach is signaled when the price closes beyond the slow MA2 line in the opposite direction of the cloud. These signals can be optimized using the invalidation settings.
  
• Crosses
  A cross is signaled by a change in the direction of the cloud. The strength of the cross can be evaluated using the settings below..
  

Signal Filters

• Confirmed pullbacks allowed after a cross
  The number of confirmed pullbacks allowed after a cross can be set using this option. If the number of confirmed pullbacks since the last cross exceeds the specified value, the pullback signal will be invalidated.
  
• Allowed Number of bars in Pullback
  The pullback signal is considered invalid if the specified number of bars form within the pullback without a reversal occurring. This limits the number of bars allowed in the pullback.
  
• Invalidate Pullback if price breaches the slow MA2
  The pullback signal is considered invalid if the price crosses the slow MA2 during the pullback. This indicates that the trend may be reversing and the signal is no longer reliable.
  
• Require Strong Cloud During Pullback
  This option allows you to invalidate the pullback signal if the cloud is not considered strong using the ATR strength threshold. This can help to ensure that the signal is reliable and accurate..
  
• Require Strong Cross. _ look-back bars.
  This option allows you to invalidate the cross signal if the cloud is not considered strong over a specified number of look-back bars. The strength of the cloud is measured using the ATR strength threshold, and the signal will be invalidated if the cloud is not considered strong. This can help to ensure that the signal is reliable and accurate..
  
• Strength Threshold ATR Length
  This option allows you to specify the ATR length that should be used to gauge the strength of the cloud. Keep in mind that the ATR is a dynamic measure, so if there is a spike in the ATR, the cloud strength calculations will also change. This can affect the reliability and accuracy of the signals generated by the indicator.
  
• Cloud Size Must Be _ times the size of the Threshold ATR to be considered strong
  This option allows you to specify the minimum size that the cloud must be relative to the Threshold ATR in order to be considered strong. If the distance between the fast MA1 and the slow MA2 is less than the specified value multiplied by the Threshold ATR, the cloud is considered weak. For example, if the cloud size is not at least 2 times the ATR, it will be considered weak.
  

This indicator is also incorporated into the Bender Bot strategy script and can be used to autonomously manage strategies based on signals and confluences identified by the indicator. When used as a standalone indicator, the features below will not affect the indicators functionality.
Bender Bot Strategy Confluence

• Require Signal Confluence before opening any position
  This option requires that all of the signal conditions are met before opening any position. If all conditions are satisfied, the signal will remain "Long" or "Short" until it is invalidated.
  
• Require MA Cloud Directional Confluence before opening any position
  This option requires that the direction of the cloud (either "Long" or "Short") is in agreement before opening any position. The direction of the cloud changes on crosses.
  
• Close Position if Pullback is started
  This option closes the position if a pullback is started and causes the fast MA1 line to change direction and oppose the open position.
  

Please feel free to contact me if there are any questions

Release Notes:

• Fixed Problem with pullback signals not getting invalidated according to the settings
  
• Updated the default colors to be less bold and less intrusive