OPEN-SOURCE SCRIPT
Moving Average by Lows (sashadams)
This custom TradingView indicator calculates a unique moving average based on the lowest price values, offering a fresh perspective on trend analysis. Unlike traditional moving averages, it exclusively tracks the lows, providing traders with a reliable tool to identify support levels and assess bearish trends. The indicator is fully customizable, allowing users to adjust the lookback period and other parameters to fit their specific trading strategies. Ideal for spotting trend reversals, confirming breakouts, and refining entry/exit points, this tool is a valuable addition to any trader’s toolkit.
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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