OPEN-SOURCE SCRIPT
Updated Moving Average Zones
Imagine bollinger bands, but instead with multiple customizable moving averages.
MAZ contains moving averages that act as support and resistance. This can lead to potential use for stop loss and take profit decision-making along with potential signs of reversals.
Features
Default Settings (with Data Window)
Areas of Confluence
In the photo above, every touch inside a zone increases the brightness of the zone, strengthening the confluence of the zone.
Zones will disappear after a while if no touches have occurred in between a zone within the specified lookback period.
MAZ contains moving averages that act as support and resistance. This can lead to potential use for stop loss and take profit decision-making along with potential signs of reversals.
Features
- Areas of Confluence
- Display Options
- Data Window
Default Settings (with Data Window)
Areas of Confluence
In the photo above, every touch inside a zone increases the brightness of the zone, strengthening the confluence of the zone.
Zones will disappear after a while if no touches have occurred in between a zone within the specified lookback period.
Release Notes
New Feature- Reversal Detection
Reversal Detection checks for rejection wicks off of each zone, and if the customizable conditions are met, send an alert.
Release Notes
Preview UpdateRelease Notes
Added- Minor Changes
Release Notes
Fix- Error preventing script from running.
- Removed reversal feature.
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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Disclaimer
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