Moving averages are perhaps the most popular indicator in technical analysis. But sometimes they're not the easiest to interpret.
This indicator helps you see the trend by coloring the MA based on its direction. It's green when rising and red when falling. Of course, you can easily change that in the Style tab under Settings.
Color MA also lets you select from five different types of moving averages, including simple, exponential and Hull. We've included a list for easy reference below. Just change the "AvgType" on the Input tab under Settings.
This chart of Facebook shows the 20-day simple moving average. Notice how swings often marked turns in the stock price.
AvgType codes: 1 - Simple Moving Average 2 - Exponential Moving Average 3 - Hull Moving Average 4 - Weighted Moving Average 5 - Volume Weighted Moving Average
I'm fairly new to TS and tried adding to a new Easy Language indicator, but I couldn't verify because of the errors. How do you get this to work?
caseyjshu
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Has anyone gotten this script to work with Tradestation 10?
dtb71forex
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@caseyjshu, This indicator is for TradingView (it was authored by TradeStation)
modikalchandrashekar
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Coloured MA is one of the coolest Indicator for proving the trend on every time frame !! Is there a way that we can have an Alert triggered when the Color changes as i do not see that option currently ? That would be really helpful if the Alert can be triggered once the color changes ?