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Moving Average Price Action

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MAPA - Moving Average Price Action. This script depicts the areas of possible trend reversal with respect to four moving average inputs whilst taking price action into account. It is fairly simple to use the script and should be used as an aid to manual trading. The price of the close with respect to the open is the basis for this script and is to be used for ascertaining trend reversals or continuations thereof. The prices are considered and compared only through specific candles. Anytime we have a candle which has its respective moving average value in between the candle's open and close price, the candle is marked and the price recorded for comparison to the price of such candles. This script uses four such different comparisons with respect to the four moving averages displayed. Only candles associated to the specific moving averages are compared for prices of close of the current to the open of the previous such candle. For the trend to go upwards, the close price of the bull candle has to be more than that of the open price of the respective bear candle. In order to ascertain the upward trend, starting with the moving average of the highest value and moving towards the lowest value, all such close prices of the respective bull candles have to be greater than that of the open prices of the respective bear candles. And as such for the downward trend, all such close prices of the respective bear candles have to be lesser than that of the open prices of the respective bull candles.
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