Manage moving averages, for every timeframe, from within one indicator.
■ Intraday - Up to 3 moving averages
■ Daily - Up to 4 moving averages
■ Weekly - Up to 2 moving averages
■ Monthly - Up to 2 moving averages
■ Choose between simple, exponential or volume weighted moving averages (SMA, EMA or VWMA)
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 source (open, close, ...);
the offset value (default is 0).
The 1st MA is an EMA with length 50.
The others MAs are SMA with length 9, 30...
Problem: (1) lag of traditional MA's, (2) lack of Volume data in traditional MA's, and (3) choppiness of traditional MA's.
Solution: apply hull formula tick to tick, simply at a factor of 1:1.
Result: Smooth and fast MA that has volume data baked in it.
Benefit: See trend changes fast, and if it is supported by volume. Pleasant to the eyes.
Contains utilities for generating moving average values including getting a moving average by name and a function for generating a Volume-Adjusted WMA.
vawma(len, src, volumeDefault) VAWMA = VWMA and WMA combined. Simply put, this attempts to determine the average price per share over time weighted heavier for recent values. Uses a...