OPEN-SOURCE SCRIPT
Seven Moving Avverages
Updated
This is a simple yet very flexible moving average script. There are more than few moving average scripts out there but non of them are as flexible as this one.
This script lets you have seven different moving averages. Each moving average can be set separately, each can :
1- switch the moving average between EMA and SMA
2- set the flat percentage, this setting will be used to determine where we don't have trend in that moving average to set the color to black (default)
3- set the source
You can easily set the colors in the style tab.
This script was developed by request of few of my friends.
This script lets you have seven different moving averages. Each moving average can be set separately, each can :
1- switch the moving average between EMA and SMA
2- set the flat percentage, this setting will be used to determine where we don't have trend in that moving average to set the color to black (default)
3- set the source
You can easily set the colors in the style tab.
This script was developed by request of few of my friends.
Release Notes
Added few changes :1- moved the source for each moving average to top in input section, to me, it makes more sense for organization
2- added check box to draw or not draw each moving average in input section
Release Notes
fixed a typo that would cause one of the moving averages to calculate the up and down situation and color code wrongOpen-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.
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Disclaimer
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