BTMM EMA's

18 hours ago

This script is written in Pine Script version 5 for TradingView and is designed to display multiple Exponential Moving Averages (EMAs) on a price chart. Here's a breakdown of its components:

1. Indicator Declaration
indicator(title="Moving Averages", shorttitle="BFX BTMM EMA", overlay=true):
Declares an indicator named "Moving Averages" with a short title "BFX BTMM EMA".
overlay=true means the indicator will be plotted directly on the price chart, not in a separate window.
2. EMA Calculation
The script calculates EMAs for the lengths of 5, 13, 50, 200, and 800 using the ta.ema() function, which applies the exponential moving average to the closing price (close).
pinescript
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ema5 = ta.ema(close, 5)
ema13 = ta.ema(close, 13)
ema50 = ta.ema(close, 50)
ema200 = ta.ema(close, 200)
ema800 = ta.ema(close, 800)
3. Plotting EMAs
Each EMA is plotted on the chart using the plot() function with specific colors for visual distinction:
EMA5: Yellow (color.rgb(255, 213, 0))
EMA13: Red (color.rgb(255, 0, 0))
EMA50: Light Blue (color.rgb(111, 183, 242))
EMA200: White (color.rgb(255, 255, 255))
EMA800: Purple (color.rgb(60, 0, 255))
4. Custom Smoothing Function
ma(source, length, type) is a custom function that allows users to select different types of moving averages, such as SMA, EMA, SMMA (RMA), WMA, and VWMA.
pinescript
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ma(source, length, type) =>
switch type
"SMA" => ta.sma(source, length)
"EMA" => ta.ema(source, length)
"SMMA (RMA)" => ta.rma(source, length)
"WMA" => ta.wma(source, length)
"VWMA" => ta.vwma(source, length)
5. User Inputs
typeMA and smoothingLength are user inputs for selecting the smoothing method and the length of the moving average. These inputs allow customization of the indicator:
typeMA provides options for the smoothing method.
smoothingLength sets the length of the smoothing.
pinescript
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typeMA = input.string(title = "Method", defval = "SMA", options=["SMA", "EMA", "SMMA (RMA)", "WMA", "VWMA"], group="Smoothing")
smoothingLength = input.int(title = "Length", defval = 5, minval = 1, maxval = 100, group="Smoothing")
Summary:
This script calculates and plots five EMAs on the price chart, providing a visual representation of different time-frame trends. Additionally, it includes a custom function to allow the user to apply other smoothing techniques to the data, offering flexibility in analysis.