OPEN-SOURCE SCRIPT
Moving Average Ribbon Set
The Moving Average Ribbon is a powerful visualization tool for identifying trends and potential reversals in trading. By using 8 moving averages (MAs), you can enhance its sensitivity and applicability to various trading strategies.
Suggested Configuration for an 8-MA Ribbon:
Short-Term MAs: These react quickly to price changes, helping identify immediate trends.
5-period MA
10-period MA
Medium-Term MAs: These offer a balance between sensitivity and reliability.
20-period MA
30-period MA
Long-Term MAs: These filter out short-term noise, focusing on macro trends.
50-period MA
100-period MA
Extended-Term MAs: These highlight the overarching market sentiment.
150-period MA
200-period MA
Suggested Configuration for an 8-MA Ribbon:
Short-Term MAs: These react quickly to price changes, helping identify immediate trends.
5-period MA
10-period MA
Medium-Term MAs: These offer a balance between sensitivity and reliability.
20-period MA
30-period MA
Long-Term MAs: These filter out short-term noise, focusing on macro trends.
50-period MA
100-period MA
Extended-Term MAs: These highlight the overarching market sentiment.
150-period MA
200-period MA
Open-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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