Colored Moving Averages With Close Signals[Whvntr][TradeStation]

whvntr Updated   
Plots the first time the close price is above or below the colored portion of the chosen MA. The MA's formula is from TradeStation's indicator: "Colored Moving Averages Can Help You Spot Trends". I modified that indicator with customizations that include: Buy and Sell signals. Each time the current bar closes above the MA, while it's red (bearish), there's a Sell label at the start of that MA trend. Likewise: each time the current bar closes below the MA, while it's white (bullish), there's a Buy label at the beginning of that MA trend. You can now, also, easily see which MA you are selecting by hovering your cursor over the tooltips icon. I've included a modified Hull MA as default because I've found this SMA combination with the WMA to be a very smooth oscillation. I've also added some different types of MA's. Colored moving averages are helpful to determine when a trend may be reversing.

‎1 · Modified Hull MA: (SMA of the WMAs Hull Formula)
2 · Hull MA
3 · Exponential Moving Average
4 · Weighted Moving Average
5 · RMA Moving Average used in RSI
6 · Volume Weighted MA
7 · Simple Moving Average

This indicator isn't endorsed as a guarantee of future, favorable, results.
Release Notes:
Sidenote: Nor is this indicator endorsed by TradeStation (I modified their indicator)
Release Notes:
Plot is editable in Style
Release Notes:
Added an MA Tooltip. Updated the default MA length to 5 from 8.
Release Notes:
Alternate settings idea: MA #5(RMA), length 7

Open-source script

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