One For All - xMAs : wave ribbon + trend strenght + xMAcross

27. Mai 2021

This script is not intended to bring anything new or original, but mainly for educational purposes and aesthetic visualization of 10 moving average behavior.

Main features :

• Moving Averages : as shown by the wave ribbon (the gradient colored areas opacity is correlated with the distance from the Nth xMA to the last xMA)
  
• Trend Strenght : as shown by the blue/orange/red triangle shape plotted at the bottom of the chart
  
• Moving Average Cross Signal : as shown by the labels green LabelUp and red LabelDown

Also it is designed to be easily customizeable as the settings allow to:

• Chose different smoothing method for the 10 xMAs plotted
  
• Manually setup the length of each xMA or simply select a predefined list of convenient length
  
• Choose different MA length not only for crossover but also for crossunder

Trend Strenght explanation :

• When all the "fast xMA" are above "slow xMA" there is an opaque Blue UpTriangle plotted at bottom (bull trend)
  
• As more "fast xMA" fall/cross below "slow xMA", the Blue UpTriangle will start fading to a translucid orange UpTriangle
  
• As even more "fast xMA" fall/cross below "slow xMA", a Red DownTriangle is plotted insteand and become more and more opaque as more MA fall below others

Overall, this means that the opacity of the triangles represent trend strenght and a fading trend is shown by the color fading into a translucid orange color

p.s. : If you would like to see some other MA calculation method included, please comment below, I'd be happy to update this script

28. Mai 2021

Versionshinweise

• Adding the Pine Table feature to display the current Bulls & Bears presence on the battlefield, and also remind of the smoothing method used. This helps explicit the current trend strength better than opacity of the TriangleUp/Down heatmap displayed at bottom, which remains to help assess historic trend evolution.
  
• Adding some comments to explicit some functions/blocks
  

p.s.: tbh, the main reason for this update was originally to change a horrible typo on the title