SebMatte

Triple Colored Least Squares Moving Average + Crossover Alerts

This script is forked from the ‘ Double Colored Least Squares Moving Average + Crossover Alerts ‘ from @IronKnightmare.

First release & notes : 2021-11-03.

Overview:

The Least Squares Moving Average is used mainly as a crossover signal to identify bullish or bearish trends. When a shorter duration line cross a longer one a trend can be identified. When multiple lines or the price action cross a longterm trend the confirmation can be further validated. Tradingview contains already some indicators with 1 or two LSMA trendlines that can be configured and toggled.

The original script that I forked had two LSMA lines that could be plotted with other valuable functions, I added a third for further confirmation as some trading systems will use three lines or some combination of those for validation.

Usage:

In inputs

- You will see LSMA 1, LSMA 2 & LSMA 3. The default values are 40 , 100 & 400 representing the number of periods plotted by that line : fast, medium and slow changing trendlines will be plotted. The offset value and source are standard for most scripts.

In Style
- You can toggle LSMA 1, 2 or 3 and any combination of those. There are much more possibilities this way.
- For each LSMA , Color 0 & Color 1 are for coloring the slope of the trendline,

- Color 0 for rising slope,
- Color 1 for descending slope.
- The script will automatically color the rise or fall of the trendline accordingly. You can also set one identical color in both slopes for one unique color.


- The ‘Long Crossover 1 on 2’ is a signal for when the LSMA 1 cross over the LSMA 2, usually a shorter periods trendline, more volatile, climbing over the medium term one. A Signal will be traced on the chart at that crossing, you can configure this. The ‘Short Crossover 1 on 2’ is when the LSMA 1 cross under the LSMA 2, a signal will be traced on the chart accordingly.

- The Long Crossover 1 on 3 & Short Crossover 1 on 3 act on the same principle, although the crossing of the fast LSMA on the long / slow LSMA are used. Both can be toggled.

- The ‘Background Coloring Line 1 : 0-Neutral, 1-Up, 2-Down’ is an optional background coloring for the LSMA1 line. This can provide additional information at a quick glance, especially if you combine the two other lines backgrounds, the partial transparency will compound.




Notas de Lançamento: Update 2021-11-07

- Added Symbol Description in Status line,

- Started working on customizable alerts -- commented out in the script, work in progress.
Notas de Lançamento: Added 'timeframe="", timeframe_gape=true' so that the indicator can use different timeframes than the ticker's active timeframe. Thanks @ebanat420 for the suggestion!
Script de código aberto

Dentro do verdadeiro espírito TradingView, o autor deste script publicou ele como um script de código aberto, para que os traders possam compreender e checar ele. Um viva ao autor! Você pode usá-lo gratuitamente, mas a reutilização deste código em uma publicação é regida pelas Regras da Casa. Você pode favoritá-lo para usá-lo em um gráfico.

Aviso legal

As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.

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