OPEN-SOURCE SCRIPT

Another New Adaptive Moving Average [CC]

The New Adaptive Moving Average was created by Scott Cong (Stocks and Commodities Mar 2023) and this is a companion indicator to my previous script https://www.tradingview.com/script/v81QkkWK-A-New-Adaptive-Moving-Average-CC/. This indicator still works off of the same concept as before with effort vs results but this indicator takes a slightly different approach and instead defines results as the absolute difference between the closing price and a closing price x bars ago. As you can see in my chart example, this indicator works great to stay with the current trend and provides either a stop loss or take profit target depending on which direction you are going in. As always, I use darker colors to show stronger signals and lighter colors to show normal signals. Buy when the line turns green and sell when it turns red.

Let me know if there are any other indicator scripts you would like to see me publish!

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.

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