OPEN-SOURCE SCRIPT
ALMA Cross & Trend
Updated
Arnaud Legoux Moving Average (ALMA) is one of the least lagging moving average by nature.
This script builds two ALMA line, Fast and Slow, and to check their crossing over to generate Buy / Sell Signals.
The drawback of Moving average crossing strategy is the too many crossing during a range trading, therefore, a third ALMA is used to show the trend of the ticker's price as a reference.
The default value for the Trend ALMA is 70 bars, it is due to the quick response of the Arnaud Legoux MA.
The Trend ALMA is plotted in dotted line for reference only, it does not affect the Buy/Sell signal generate from the crossing of the Fast and Slow ALMA lines.
This script builds two ALMA line, Fast and Slow, and to check their crossing over to generate Buy / Sell Signals.
The drawback of Moving average crossing strategy is the too many crossing during a range trading, therefore, a third ALMA is used to show the trend of the ticker's price as a reference.
The default value for the Trend ALMA is 70 bars, it is due to the quick response of the Arnaud Legoux MA.
The Trend ALMA is plotted in dotted line for reference only, it does not affect the Buy/Sell signal generate from the crossing of the Fast and Slow ALMA lines.
Release Notes
Let the Trend ALMA has different color for up and down trend. Release Notes
Add more checking on the POSRelease Notes
add in Albert conditionsOpen-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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