OPEN-SOURCE SCRIPT
☑️VMA Win % Dashboard for Different Lengths
VMA Win % Dashboard for Different Lengths
Overview
This Pine Script indicator evaluates the performance of a Variable Moving Average (VMA) for lengths 13 to 17. It tracks the success rate of price hitting target levels during bullish or bearish trends and displays results in a table. It is part of a combination that includes two other indicators: ✅ VMA Avg ATR + Days to Targets Total Improved 🎯 and 📊 Visual MTF VMA Dashboard🔄️.
How It Works
1. Inputs:
- ATR Length: 14 periods (for volatility).
- VMA Lengths: 13, 14, 15, 16, 17.
2. VMA Calculation:
- Uses closing price.
- Measures price increases (pdm) and decreases (mdm).
- Smooths data to calculate a Directional Movement Index (DMI).
- Adjusts VMA based on momentum and volatility.
3. Trend Detection:
- Bullish: VMA rises (green).
- Bearish: VMA falls (red).
- Neutral: No direction (white).
- Confirms trends align with daily and 195-minute timeframes.
4. Performance Tracking:
- Trend Start: Records price, ATR, and time when a trend begins.
- Price Movement: Tracks highest (bullish) or lowest (bearish) price.
- Targets:
---- T1: Starting price ± historical average movement (ATR-based).
---- T2: Starting price ± 6x ATR.
- Statistics:
---- Counts hits (reached T1/T2) and misses (didn’t reach T1).
---- Calculates win percentages: % of trends hitting T1.
5. Dashboard:
- Table with columns: VMA Length, Win % Up, Win % Down.
- Shows win percentages for each length (e.g., 75.23%).
Use Cases
- Trend Trading: Confirms trend direction and success rate.
- Optimization: Finds the best VMA length.
- Risk Management: Sets ATR-based trade targets.
- Combination: Complements ✅ VMA Avg ATR + Days to Targets Total Improved 🎯 and 📊 Visual MTF VMA Dashboard🔄️ for a complete strategy.
Example
- VMA 15: 80% Win Up, 55% Win Down → Best for bullish trades.
- VMA 13: 75% Win Up, 60% Win Down → More balanced.
Limitations
- Based on historical data, not future predictions.
- Only analyzes trends aligned with higher timeframes.
- No VMA lines or signals plotted on the chart.
Overview
This Pine Script indicator evaluates the performance of a Variable Moving Average (VMA) for lengths 13 to 17. It tracks the success rate of price hitting target levels during bullish or bearish trends and displays results in a table. It is part of a combination that includes two other indicators: ✅ VMA Avg ATR + Days to Targets Total Improved 🎯 and 📊 Visual MTF VMA Dashboard🔄️.
How It Works
1. Inputs:
- ATR Length: 14 periods (for volatility).
- VMA Lengths: 13, 14, 15, 16, 17.
2. VMA Calculation:
- Uses closing price.
- Measures price increases (pdm) and decreases (mdm).
- Smooths data to calculate a Directional Movement Index (DMI).
- Adjusts VMA based on momentum and volatility.
3. Trend Detection:
- Bullish: VMA rises (green).
- Bearish: VMA falls (red).
- Neutral: No direction (white).
- Confirms trends align with daily and 195-minute timeframes.
4. Performance Tracking:
- Trend Start: Records price, ATR, and time when a trend begins.
- Price Movement: Tracks highest (bullish) or lowest (bearish) price.
- Targets:
---- T1: Starting price ± historical average movement (ATR-based).
---- T2: Starting price ± 6x ATR.
- Statistics:
---- Counts hits (reached T1/T2) and misses (didn’t reach T1).
---- Calculates win percentages: % of trends hitting T1.
5. Dashboard:
- Table with columns: VMA Length, Win % Up, Win % Down.
- Shows win percentages for each length (e.g., 75.23%).
Use Cases
- Trend Trading: Confirms trend direction and success rate.
- Optimization: Finds the best VMA length.
- Risk Management: Sets ATR-based trade targets.
- Combination: Complements ✅ VMA Avg ATR + Days to Targets Total Improved 🎯 and 📊 Visual MTF VMA Dashboard🔄️ for a complete strategy.
Example
- VMA 15: 80% Win Up, 55% Win Down → Best for bullish trades.
- VMA 13: 75% Win Up, 60% Win Down → More balanced.
Limitations
- Based on historical data, not future predictions.
- Only analyzes trends aligned with higher timeframes.
- No VMA lines or signals plotted on the chart.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.