A version of the popular "Moving Average Ribbon" or "Guppy" indicators, except nearly everything about it is user selectable. The user can change the source, period, and type of moving average used for every single line on the chart. Note: The visuals are fairly intensive and may take a moment to catch up after adjusting settings.
Credit: This script utilizes the "Color Gradient Framework" tutorial by LucF (PineCoders) to create gradient visuals, which are also customizable for the user.
Moving Average Options:
Running (SMoothed) Moving Average (RMA or SMMA) - Slowest
Simple Moving Average (SMA) - Slow
Exponential Moving Average (EMA) - Responds faster to price than SMA
Weighted Moving Average (WMA)
Volume-Weighted Moving Average (VWMA)
Triple EMA (TEMA)
Exponential Hull Moving Average (EHMA) - Hull with Smoothing (Slower than Hull)
Least Squares Moving Average (LSMA) - Simple Linear Regression
Arnaud Legoux Moving Average (ALMA) - Adjustable, set offset=1 to be current, offset=0.85 for good smoothing (Slower)
Hull Moving Average (HMA) - Normally responds fastest to price of all options
Value Added:
This script is unique in that it allows the user to chart the "Guppy", except nearly everything about it is customizable. The user can change the source, period, and type of moving average used for every single line.
Typically, the Guppy is plotted with simple moving average or exponential moving average, which respond much slower to price than the Hull Moving Average, which this indicator uses as default. (Elimination of lag)
The Hull MA settings for the highest time frame moving averages should work well for assessing the overall macro trend, with a nice visual presentation. Additional labels and alerts for the macro trend are available.
Furthermore, this script provides many more options for type of moving average than is typical for a moving average indicator that provides the user with options, including advanced options such as Hull, TEMA, and ALMA.
The visual presentation is customizable and should provide some entertainment for users who want to create pretty charts.
Notas de Lançamento
⋅
9-OCT-21 : Converted from Pine v4 to v5.
Notas de Lançamento
⋅
12-OCT-21: Added Tillson T3 upon request.
Notas de Lançamento
⋅
13-OCT-21: Fixed up Tillson T3 formula somewhat (was using a fixed source instead of selectable previously)
Notas de Lançamento
⋅
3-nov-21: added timeframe/gaps, consolidated menu, made color scheme consistent
Notas de Lançamento
⋅
5-nov-21: added rainbow colors
Notas de Lançamento
⋅
5-nov-21: reverted color scheme, rainbow will be used in future indicators, this one was fine as is
@diveshojha92, yeah it was fine as is, easier to understand got rid of the rainbow, switched back to aqua/orange (also has user inputs) might take a day/few hours to show up
CashAthletes
⋅
now the only thing is missing is buy and sell signals on chart and itl be a perfecfect visionalgo indicator
one-penny-more
⋅
Please consider adding from Tim Tillson, the T3 Moving Average. Top Gubby Code, thank you!
animecummer
⋅
@one-penny-more, Yes, it is something I had considered. Not entirely sure how to implement it yet because of some of the extra params + I would have to incorporate it as a single function unlike scripts you may find in the public library to make the switching on this script work (similar to what I did to TEMA on here), but I will check it out
animecummer
⋅
@one-penny-more, I was able to figure it out. Check it out some time.
Nick.TkgProfits
⋅
Thank you!!! I'm playing with the settings. What do you recommend as the best settings for a higher time frame?
animecummer
⋅
@nick.TkgProfits,
It is hard to say for sure because it depends on what you are looking for. A 50/200 golden cross is a good high conviction MA cross many traders like to use.
But it also depends on the MA used. A 50/200 ema cross will happen much later than a 50/200 Hull cross, for example.
I like the Hull moving averages because they respond fastest to price action, which can easily be verified by playing around. Hull has the least lag regardless of MA length/timeframe.
But Hull also may lead to getting chopped out during sidewise price action, turning bearish when price eventually resolves upward, which wouldn't happen with a slower MA.
Many traders like Arnaud Legoux (ALMA) because it has a setting that allows you to adjust how fast it responds to price, if you want faster (less lag), or smoother.
Nick.TkgProfits
⋅
@animecummer, ahhh okay that makes a ton of senses I appreciate your work as well as your response!! Thank you.