The panel display trend momentum of selected coins/symbol (up to 6) based on the Arnaud Legoux Moving Average (ALMA). I'm using ALMA to measure the trend because it resolves 2 main issue of the more common moving averages, smoothing and responsiveness. By removing the minor fluctuations in price without sacrificing the responsiveness, the trend become much more clearer and easier to be measured.
In essence, as the meter approaches 100, it means the ALMA is pointing up (0 means pointing down)
█ Features
- Adjustable ALMA settings with options to turn on/off display the ALMA on current chart - Select 6 symbols of your choice to be monitored in the settings (You have to manually update the label to display) - Working on all timeframes - Switch the panel color to suit background chart theme (Light/Dark)
█ Developer Notes
I'm working with table a lot lately and decided to publish this as a sample if anyone wishes to edit the script to display whatever they want. main calculation in get_data() function should be clamped to value between 0-100. As for the panel size, you can edit the row_max (currently set to 20 and 40) if you need it to be smaller or bigger (**i feel anything smaller than 16 is ugly)
█ Disclaimer
Past performance is not an indicator of future results. My opinions and research are my own and do not constitute financial advice in any way whatsoever. Nothing published by me constitutes an investment recommendation, nor should any data or Content published by me be relied upon for any investment/trading activities. I strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.
Any ideas to further improve this indicator are welcome :)
Catatan Rilis
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Update: - Added few more options for MA by request (Defaulted to ALMA, change in settings) - Cleanup code and added some comments for reference
I love this! I am surely going to use this idea in one fashion or another!
PhoenixBinary-Reboot
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I am getting an "array too large" error on any chart lower than 1d. But, only on my premium account, not on my free testing account. Any ideas as to why?
fareidzulkifli
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@PhoenixBinary, Hi thanks for the report, updated the script with fix. Didn't realise this as i was still pro when published this, so didn't encounter this issue. Please let me know if you still having an issue
RedKTrader
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love the idea and the visual representation .. great work.. !
fareidzulkifli
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@RedKTrader, Thanks! great to hear this from u :)
Little secret, saw ur work with portfolio tracker made me realize i can do this, as u can see the table name that i use 'PTable' lol ;)
RedKTrader
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@fareidzulkifli, 👍 we all learn from each other here.. keep it up..
GarethSA
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GREAT SCRIPT
Where can i change the length of the ALMA?
Can you add in the SMA, EMA and WMA length option?
fareidzulkifli
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@GarethSA, Added the MAs and u can change in the setting window. Thanks for the suggestion :)