OPEN-SOURCE SCRIPT
Customisable Moving Averages x5
Updated
This is a Moving Averages pack with 5 lines.
This indicator is different from others because with it you can select the MA type used in calculations for each line.
Available MA types are (currently):
Also configurable (for each line) are data source (open, close, hlc3, etc) and period.
This indicator is different from others because with it you can select the MA type used in calculations for each line.
Available MA types are (currently):
- SMA
- EMA
- WMA
- VWMA
- RMA
- HMA
Also configurable (for each line) are data source (open, close, hlc3, etc) and period.
Release Notes
- Added Double Exponential Moving Average (DEMA)
- Reordered input options
Release Notes
Fixed my demo graph (it was showing some random things I'm testing with :D)Release Notes
Added 2 new moving averages:- Triple Exponential Moving Average (TEMA)
- Zero Lag Exponential Moving Average (ZLEMA)
Release Notes
Updates:- Reorganised inputs with the new (march 12) Pine updates
- Added Symmetrically Weighted Moving Average (SWMA) - it does use period in the calculation, so if you select this in a certain MA line, any period set will be ignored (in that specific MA line of course)
- Removed VWMA (see below why)
- Added option to make moving averages volume-weighted
The Volume-Weighted Moving Average is calculated with the following (example) formula:
sma(close * volume, 20) / sma(volume, 20)
Where:
- "close" is the data source, default is close but it can be set as open, high, HL2 (which means (high + low)/2), HLC3 (which means (high + low + close)/3), etc.
- 20 is the period example, you can type in any amount of candlesticks
So, by the same principle, it's possible to make any other moving average volume-weighted.
Then VWMA was removed because it became redundant (it is exactly like SMA with volume-weighted enabled).
Keep in mind: this makes the moving average lines more "rough" (it becomes much less smoothed) if enabled.
Release Notes
Updates:- Some code improvements
- Renamed RMA to SMMA
This specific moving average is known by several different names, but the most common name is SMMA.
But as some people know it by other names, I'm posting the popular ones here
- RMA (Rolling Moving Average)
- SMMA (Smoothed Moving Average)
- Wilder's Exponential Moving Average
- Adjusted Exponential Moving Average - Added option to config offset of moving averages (moving them left and right to compensate for lag)
- Added Triangular Moving Average (TMA)
- Welles Wilder's Moving Average (simply "Wilder's" in the options)
Release Notes
Redundancy in previous update:- Welles Wilder's Moving Average (simply "Wilder's" in the options)
and
- RMA / SMMA
are the same thing, sorry for the mistake :(
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.