Custom Moving Average (EMA & SMA)

28. Dez. 2020

This script is a custom visualization tool to plot 4 Moving Averages (MA).

Each MA is customizable; you can:

• enable (disable) the plot of MA;
  
• select whether the MA is an EMA or an SMA;
  
• the length;
  
• the source (open, close, ...);
  
• the offset value (default is 0).
  

Note:

• The 1st MA is an EMA with length 50.
  
• The others MAs are SMA with length 9, 30 and 100 respectively.
  

28. Dez. 2020

Versionshinweise

Now, you can choice the following type of averages:

• EMA
  
• SMA
  
• VWMA
  
• TEMA
  

Note:
TEMA is the acronym of Triple Exponential Moving Average.

The formula and calculation for TEMA is:
TEMA =3∗EMA1 − 3∗EMA2 + EMA3

where:
EMA1 is the Exponential Moving Average (EMA)
EMA2 is the EMA of EMA1
​EMA3 is the EMA of EMA2

28. Dez. 2020

Versionshinweise

New version of script.

The Arnaud Legoux Moving Average (ALMA) is implemented. The ALMA indicator is a superior moving average as compared to the Exponential Moving and Simple Moving Averages.
The objective of the Arnaud Legoux Average is to minimize the noise and produce a more reliable signal than the conventional moving averages. The indicator (ALMA) removes small price fluctuations and also enhances the trend by applying a moving average (MA) twice, once from left to right, and once from right to left.