OPEN-SOURCE SCRIPT
BestMA v1.0
My new indicator "BestMA 1.0" (or "BMA"). He is pleasant to me more any other *MA-indicator.
Idea
"BMA" uses 2 different SMA:
1) SMA Open (red color)
2) SMA Close (blue color)
It is long at both SMA identical it (is so very necessary). The user sets length in settings. Therefore they are always very close.
If SMA Open is higher than SMA Close, means bars now is more often falling (close < open), but not growing is downtrend.
If SMA Open is lower than SMA Close, means bars now is more often growing (close > open), but not falling is uptrend.
Background:
Lime color of a background = uptrend
Red color of a background = downtrend
Plots:
Red plot = SMA Open
Blue plot = SMA Close
Arrows:
Red arrows = new trend!
Black arrows = price too high or too low
The recommended TimeFrames:
1W, 1D, 4H, 1H
The recommended parameters:
For 1W and 1D length = 30
For 4H and 1H length = 24
Idea
"BMA" uses 2 different SMA:
1) SMA Open (red color)
2) SMA Close (blue color)
It is long at both SMA identical it (is so very necessary). The user sets length in settings. Therefore they are always very close.
If SMA Open is higher than SMA Close, means bars now is more often falling (close < open), but not growing is downtrend.
If SMA Open is lower than SMA Close, means bars now is more often growing (close > open), but not falling is uptrend.
Background:
Lime color of a background = uptrend
Red color of a background = downtrend
Plots:
Red plot = SMA Open
Blue plot = SMA Close
Arrows:
Red arrows = new trend!
Black arrows = price too high or too low
The recommended TimeFrames:
1W, 1D, 4H, 1H
The recommended parameters:
For 1W and 1D length = 30
For 4H and 1H length = 24
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