+ %UMA

31. Dez. 2021

If you are familiar with the %B for use with Bollinger Bands, then you will understand this indicator immediately.

Designed for use with my +UMA moving average, this works in exactly the same way, with a few differences.

First off, as you can choose on which type of moving average the calculations are made, so too you will want to match this up with the one you are using. That of course goes for the standard deviation as well (just like you would with Bollinger Bands and %B). Here, because the +UMA uses highs and lows to create a sort of moving average channel, and then also to create the bands, I've opted to set the inner part of the bands as the extreme edge that the %UMA equates with the upper and lower lines.

I've added a moving average, donchian channels, and auto-plotted divergences as well, if you like. Typical color related stuff that I do. Alerts for everything.

Hope you like it!


The above image is comparing two of the same indicator, but based on different moving averages, and how it might plot divergences differently between the two.

31. Dez. 2021

Versionshinweise

fixed something that I had changed previously because I thought it was weird, but in fact is not weird and instead makes lots more sense, like I originally thought. don't mind me. :) lol

18. Apr. 2022

Versionshinweise

- updated to version 5 pinescript
- added a couple additional moving averages
- updated to +RMA for use with that version of the UMA
- added circles at top and bottom of indicator for crosses of the %UMA and the moving average.

18. Apr. 2022

Versionshinweise

- missed a change just a minute ago.... fixed

14. Juli 2023

Versionshinweise

I'm publishing updates to all of my indicators, so I'm just going to comment on everything here since most of the updates are common across most of my indicators.

User Non-Visible Updates (basically backend stuff that makes:
- changes in code legibility and consistency across all indicators (basically standardizing the coding across as many indicators as possible)
- implementation of libraries into my indicators; which helps significantly in doing what I typed above; which in turn will make creating any new indicators, if they are of the type to use these libraries, much simpler
- updated descriptions for all indicators, which should (it's possible I've forgotten things) reflect changes I've made recently and any I may have made in the past after first publication (this is very minor, but as I was changing so much I thought I may as well--I don't intend to update these much, if at all, in the future)

User Visible Updates:
- as I mentioned everything now uses my moving averages library and volatility bands library--this cuts down the total amount of code significantly, and has made it easier for me to add moving averages, or volatility bands to these indicators because I only had to/have to add it one time (to the library) rather than multiple times across all indicators*
- since creating these libraries I've added several new moving averages (Kaufman Adaptive, Laguerre Filter, McGinley Dynamic (doesn't work for all), and Zero-lag) to them while retaining all the previous with the exception of the UMA, which wasn't implemented consistently across all indicators anyway
- eliminated having two Bollinger Bands with different standard deviations and a fill between them in exchange for one with the band fill implementation that I use on my Donchian Channels Bands
- part of my code consistency across all indicators resulted in a much needed organization of the 'style' tab

*(affects all but the Wavetrend Oscillator, Wavetrend Oscillator Overlay, Jurik KDJ, Average Candle Bodies Range, Bollinger Bands Width, ALMA Trend Detector, Ultimate Moving Average, Donchian Channels, and Dynamic Donchian Channels)

I think that is everything

Versionshinweise

Well, as I just posted a major update to my Ultimate Moving Average I can pretty much just copy and paste all those changes here (though there are other changes, because it does do different things) since this indicator is the companion piece to it. Perhaps I should make a UMA Width just to complete the trifecta of John Bollinger style indicators.

Ha.

Anyway.....

Like I stated above, this is a pretty huge update. Hopefully doesn't annoy anyone already using it because I changed a lot.
- updated to pine v6 (of course)
- added a bunch of new moving averages from my moving averages library
- reduced the number of moving averages used to make the UMA from 9 to 5. This was necessary for the next change, as well I thought nine was a bit excessive, and a reduction in number would still produce the same effect
- turned the indicator into a make your own UMA by making all the periods, lengths, lookbacks, whatever you like to call them, user adjustable. It's kind of like a sandbox now, so play around and make something that works with your system, though I think the default settings for an Exponential UMA or quite excellent.
- added a Keltner Channel to the previously provided Bollinger Bands that were on the original indicator (this is the UMA, however, obviously, for the %UMA you want to make sure you have the correctly selected band/channel otherwise they won't work together)
- optimized the code a bunch, reducing lines of code by around 150
- in an attempt to clean up the user interface, which; between all the moving average options, signal line options, crosses, bands, bar color, and divergences; was quite cluttered, I removed color.gradient color options. When using color.gradient colors, due to the way pinescript processes these, if the user wishes to be able to change them, color inputs must be created not just for them, but for every other part of the indicator that the user might want to change the color of, because the color swatches are removed from the 'style' tab (this is why the inputs were there in the first place.) At any rate, I wished to get rid of them, and after much deliberating I did so. What does this mean? It means the indicator might be slightly less pretty. If you were a user who liked the color gradient color options, well, sorry. The indicator and your bar color, if you use it, will be slightly less pretty. :/
- added the same multi-timeframe color option as the UMA has had, and I'll be doing this to everything else I update. Basically you can set the indicator color to react to what the higher timeframe indicator is doing. What this means is in a tooltip in the user interface.
- added Bollinger bands to one of the bands options around the %UMA (in addition to the Donchian Channel, which was already there)
- updated the divergences portion of the indicator to TradingView's updated version. I don't know if that brings any improvements, but it seemed a sensible thing to do.

I think that's everything. Hopefully you all find this a very nice improvement. Hit me up or leave a comment if you have a question, as always.

Enjoy!