MLA - Money Line Approximation with Shaded Bands V2

27 Okt

The MLA Bands indicator (Money Line Approximation with Shaded Bands) is a user-friendly TradingView tool designed to help traders spot trend changes and potential entry/exit points in volatile markets like stocks, crypto, or forex. At its core, it blends two exponential moving averages (EMAs)—a short one (default 8 periods) for quick price reactions and a long one (default 24 periods) for smoother trends—into a single "Money Line." This line is a weighted average (default 60% short EMA), acting like a dynamic trend guide that changes color: green for bullish, red for bearish, and yellow for neutral.
Its main purpose is to simplify trend identification while filtering out noise. It uses RSI (default 12 periods) to confirm momentum—avoiding overbought buys or oversold sells—and adds ATR-based bands (volatility measure) around the Money Line for visual "shaded zones." These bands fill green during uptrends or pink during downtrends, highlighting momentum strength and potential support/resistance areas anchored to recent price action.
Functionally, it generates buy/sell alerts on trend flips: a "BUY" label (with optional close price) appears below bars when shifting bullish, and "SELL" above for bearish. An optional volume confirmation filter (using a 20-period SMA and threshold multiplier) ensures signals align with rising volume, reducing false positives in choppy markets.
Tips for usage:

Customize EMA periods for your timeframe (shorter for scalping, longer for swings).
Enable volume confirmation for high-liquidity assets; disable for low-volume ones to avoid missing signals.
Combine with support/resistance levels or candlestick patterns for better accuracy.
Adjust ATR multiplier (default 1.0) to widen/tighten bands in volatile vs. stable markets.
Test on historical data; it's not foolproof—always use stop-losses and risk management.
Toggle shades off for cleaner charts; show EMAs for debugging.

Overall, it's a versatile trend-following aid that promotes disciplined trading by visualizing conviction behind moves.

27 Okt

Catatan Rilis

The MLA Bands indicator (Money Line Approximation with Shaded Bands) is a user-friendly TradingView tool designed to help traders spot trend changes and potential entry/exit points in volatile markets like stocks, crypto, or forex. At its core, it blends two exponential moving averages (EMAs)—a short one (default 8 periods) for quick price reactions and a long one (default 24 periods) for smoother trends—into a single "Money Line." This line is a weighted average (default 60% short EMA), acting like a dynamic trend guide that changes color: green for bullish, red for bearish, and yellow for neutral.
Its main purpose is to simplify trend identification while filtering out noise. It uses RSI (default 12 periods) to confirm momentum—avoiding overbought buys or oversold sells—and adds ATR-based bands (volatility measure) around the Money Line for visual "shaded zones." These bands fill green during uptrends or pink during downtrends, highlighting momentum strength and potential support/resistance areas anchored to recent price action.
Functionally, it generates buy/sell alerts on trend flips: a "BUY" label (with optional close price) appears below bars when shifting bullish, and "SELL" above for bearish. An optional volume confirmation filter (using a 20-period SMA and threshold multiplier) ensures signals align with rising volume, reducing false positives in choppy markets.
Tips for usage:

Customize EMA periods for your timeframe (shorter for scalping, longer for swings).
Enable volume confirmation for high-liquidity assets; disable for low-volume ones to avoid missing signals.
Combine with support/resistance levels or candlestick patterns for better accuracy.
Adjust ATR multiplier (default 1.0) to widen/tighten bands in volatile vs. stable markets.
Test on historical data; it's not foolproof—always use stop-losses and risk management.
Toggle shades off for cleaner charts; show EMAs for debugging.

Overall, it's a versatile trend-following aid that promotes disciplined trading by visualizing conviction behind moves.

27 Okt

Catatan Rilis

Hey there, let's talk about this upgraded "Money Line Approximation with Shaded Bands" indicator (shortened to MLA Bands) in Pine Script v6—it's a nifty TradingView tool that overlays on your chart for spotting trends with a volatility twist.
At its core, the "Money Line" is a weighted blend of two EMAs (default short 8-period at 60% weight, long 24-period at 40%), giving a smooth trend line that's more responsive than a plain average. It colors green for bullish (short EMA > long and RSI < overbought), red for bearish (opposite with RSI > oversold), or yellow for neutral. RSI (default 12-period) acts as a momentum filter to avoid jumping into exhausted moves—smart way to cut false signals.
The real upgrade shines with the ATR-based bands (Average True Range, default 14-period). Instead of static envelopes, these are dynamic: the upper band is the max of the EMAs plus ATR times a multiplier (default 1.0), and lower is min minus that. This adapts to market volatility—bands widen in wild swings to capture breakouts, tighten in calm times for better support/resistance. Shaded fills (green or fuchsia) between bands highlight trends visually, with an optional gradient for flair.
For trading, slap it on a chart like BTC/USD on 5m or daily. Watch the Money Line color flips: green signals potential uptrends, red downtrends. Buy/sell labels pop on shifts (with optional price shown), but confirm with volume or candles—e.g., enter long on a "Buy" after a pullback to the lower band, target the upper or trailing stop at ATR below entry. In neutral yellow, stay out or scalp ranges. Tweak EMAs for timeframe (shorter for intraday), ATR mult for sensitivity, and RSI levels for choppy markets. Backtest it—it's great for trend-following, but pair with news or another indi like MACD for confluence. Simple, adaptive, and volatility-aware—keeps you from getting whipsawed!

29 Okt

Catatan Rilis

The original Money Line indicator was a straightforward EMA-based trend tool with basic RSI filtering, fixed shading between EMAs, and simple buy/sell signals on any trend shift. In this updated version, I made it more flexible and powerful by adding user-customizable options like data source selection, color tweaks for everything, and toggles for persisting trends or requiring actual EMA crossovers for signals to cut down on noise. I switched the shading to dynamic ATR-based bands that expand and contract with market volatility for better candle-hugging visuals, introduced an optional slope tolerance to spot neutral periods more accurately, and threw in handy extras like price labels on signals and an info table showing key metrics like band levels and RSI—all grouped neatly in the settings for easier tweaking, making it a more adaptive and user-friendly tool overall.

3 Nov

Catatan Rilis

This PineScript indicator evolved from its original EMA-weighted Money Line with ATR-based bands and crossover signals to a hybrid version incorporating Donchian channels for the bands (excluding the current bar to detect true breakouts), while keeping the core Money Line intact. The buy/sell logic was overhauled to mimic Grok SADX, triggering on wick piercings of the Donchian bands filtered by ADX strength (above a threshold for trends), RSI oversold/overbought levels, and a cooldown period to reduce noise. Additions include an ADX trend strength bar at the chart bottom (color-coded: white for weak, orange for moderate, blue for strong), error fixes for plotshapes and local scopes, increased historical data access to 5000 bars, and title updates to "Money Line Approximation V4" for clarity.

4 Nov

Catatan Rilis

updated info box for relevant information including RSI, and ADX levels as these levels are integral in the buy /sell logic of the script. Changed Show Price Labels to on by default. Yoc can toggle on or off in settings.

5 Nov

Catatan Rilis

The Money Line Approximation script, originally a trend-following indicator using a weighted EMA midline and Donchian channels for breakout signals, has been upgraded to Pine Script version 6 for better compatibility and performance. Key enhancements include merging redundant RSI calculations into a single one with a default 12-period length to streamline efficiency, adding toggles for breakout confirmation (requiring closes beyond bands instead of just wicks), integrating ATR-based dynamic band adjustments and dual fast/slow Donchian channels for more adaptive volatility handling, incorporating volume filters for neutral regime detection, and supporting multi-timeframe analysis for broader context. Debugging was improved with NA checks and invisible plots, input organization was refined with better tooltips, and visual features like dynamic shade transparency based on ADX were added for stronger trend emphasis. To address loading issues, a lightweight version was created by removing heavier features like MTF and volume neutrals, defaulting non-essential displays (e.g., EMAs, bands) to off while keeping shaded bands on by default, and optimizing the info panel to a colored table for quick insights.

6 Nov

Catatan Rilis

Added the Volatility metric to the table. It is color coded as follows; white below 30%, Orange from 30%-70%, Red over 70%.

6 Nov

Catatan Rilis

Added Volatility % to the table

6 Nov

Catatan Rilis

Added Volatility to the table

4 hari yang lalu

Catatan Rilis

cosmetic changes