OPEN-SOURCE SCRIPT
[blackcat] L1 Buff Average
Level: 1
Background
This indicator buffs up your moving averages using the volume-weighting method presented in Buff Dormeier's article in 2001, "Buff Up Your Moving Averages." The weighting formula has been created as a function in pine script so that it can be referenced from any analysis technique or strategy. In addition, a simple two-line volume-weighted average indicator that references the function has also been included.
Function
The name of the volume-weighted average function is "BuffAverage()." The function has two inputs, price and length. The price input represents the price value upon which the average calculation is based. The length input represents the number of bars that are used in the calculation of the average. The two-line volume-weighted average indicator is presented. This indicator has three inputs. The price input represents the price value upon which the average calculation is based. The FastAvg input represents the number of bars to use in the fast volume-weighted average calculation. The SlowAvg input represents the number of bars to use in the slow volume-weighted average calculation. A simple alert criteria has also been included to provide an alert when the two lines cross.
Key Signal
FastBuff Line --> fast line in yellow;
SlowBuff Line --> slow line in fuchsia.
Remarks
This is a Level 1 free and open source indicator.
Feedbacks are appreciated.
Background
This indicator buffs up your moving averages using the volume-weighting method presented in Buff Dormeier's article in 2001, "Buff Up Your Moving Averages." The weighting formula has been created as a function in pine script so that it can be referenced from any analysis technique or strategy. In addition, a simple two-line volume-weighted average indicator that references the function has also been included.
Function
The name of the volume-weighted average function is "BuffAverage()." The function has two inputs, price and length. The price input represents the price value upon which the average calculation is based. The length input represents the number of bars that are used in the calculation of the average. The two-line volume-weighted average indicator is presented. This indicator has three inputs. The price input represents the price value upon which the average calculation is based. The FastAvg input represents the number of bars to use in the fast volume-weighted average calculation. The SlowAvg input represents the number of bars to use in the slow volume-weighted average calculation. A simple alert criteria has also been included to provide an alert when the two lines cross.
Key Signal
FastBuff Line --> fast line in yellow;
SlowBuff Line --> slow line in fuchsia.
Remarks
This is a Level 1 free and open source indicator.
Feedbacks are appreciated.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.
Möchten Sie dieses Skript auf einem Chart verwenden?
Avoid losing contact！Don't miss out! The first and most important thing to do is to join my Discord chat now! Click here to start your adventure: discord.com/invite/ZTGpQJq 防止失联，请立即行动，加入本猫聊天群: discord.com/invite/ZTGpQJq
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.