OPEN-SOURCE SCRIPT
Moving Average Ribbon - version 4
There are many different strategies using Moving Averages such as the Guppy, Super Guppy, Madrid Ribbon and others. Some strategies use one type of calculation over the other.
I am not advocating one strategy over another and this indicator is not a particular strategy. It provides up to 27 moving averages. You can choose between Simple, Exponential (default), ALMA, Hull, WMA, RMA and DEMA for the calculation method.
You can choose which Moving Averages to show and not show.
You can change the lengths of any of the Moving Averages.
Some strategies I have seen uses different sources. You can set the source for each individual Moving Average.
If you use this indicator more than once on the same chart, you can offset the two indicators if needed.
The indicator has two methods for coloring the plots. The default is by direction and order. If going up and the faster MA is higher than the next slower MA, it is bullish. If going down and the faster MA is lower than the next slower MA, it is bearish. Otherwise, it is neutral.
An alternate means looks at separation distance. A slower MA will inherit the color of the faster MA if the distance between the two is equal or greater than the previous candle.
If standard colors are used, there is a Strong Bear, Weak Bear, Strong Bull and Weak Bull. If you choose to use Alternate colors, you have a Bullish and Bearish color.
Defaults are simply set to how I have been using it. I also have it applied on multiple charts across multiple timeframes. It is not a recommendation or promise of best method. I am still experimenting with different layouts.
I am not advocating one strategy over another and this indicator is not a particular strategy. It provides up to 27 moving averages. You can choose between Simple, Exponential (default), ALMA, Hull, WMA, RMA and DEMA for the calculation method.
You can choose which Moving Averages to show and not show.
You can change the lengths of any of the Moving Averages.
Some strategies I have seen uses different sources. You can set the source for each individual Moving Average.
If you use this indicator more than once on the same chart, you can offset the two indicators if needed.
The indicator has two methods for coloring the plots. The default is by direction and order. If going up and the faster MA is higher than the next slower MA, it is bullish. If going down and the faster MA is lower than the next slower MA, it is bearish. Otherwise, it is neutral.
An alternate means looks at separation distance. A slower MA will inherit the color of the faster MA if the distance between the two is equal or greater than the previous candle.
If standard colors are used, there is a Strong Bear, Weak Bear, Strong Bull and Weak Bull. If you choose to use Alternate colors, you have a Bullish and Bearish color.
Defaults are simply set to how I have been using it. I also have it applied on multiple charts across multiple timeframes. It is not a recommendation or promise of best method. I am still experimenting with different layouts.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
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.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
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.