OPEN-SOURCE SCRIPT
2 Moving Average Color Direction Detection
Updated
2 Moving Average Color Direction Detection, possibility to configure:
- Type: SMA , EMA , WMA , VWMA , SMMA , DEMA , TEMA , HULLMA, ZEMA, TMA, SSMA
- Lenght
- Source
- Color direction
- Type: SMA , EMA , WMA , VWMA , SMMA , DEMA , TEMA , HULLMA, ZEMA, TMA, SSMA
- Lenght
- Source
- Color direction
Release Notes
Possibility to activate/deactivate each MARelease Notes
The filling option is added between the moving averages (it is deactivated by default, activate in configuration if you wish), if the 2 averages are green the filling will be green, if the 2 averages are red the filling will be red, this would confirm a trend healthy in the case that you are using a fast and a slow average, in the case that the fast average changes of direction will be filled in the purple color, this can indicate several things: a correction of the trend is being generated, possible rest of the price , possible start of laterality, possible change of trend, when the color is purple the trader will have to analyze the general context to be able to define what could be happening.FILL OFF
FILL On
Release Notes
Now you can configure the reaction in the direction change of the moving averages, in 1 it is the fastest but it can generate false changes, in 3 (default) it filters very well it is a little slower and it can be better, try it and adjust it to your need.The following alerts were created:
- Change Direction 1-MA
- Change Direction 2-MA
- Cross Under 2-Ma/1-Ma
- Cross Under 1-Ma/2-Ma
- Cross Over 2-Ma/1-Ma
- Cross Over 1-Ma/2-Ma
- Cross 1-Ma/2-Ma
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
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