OPEN-SOURCE SCRIPT
Highlight Deduction
Updated
Highlighting deduction OHLC bar make traders easier to observe SMA direction. This indicator will highlight the deduction area(width can be set by yourself) and draw dotted line of deduction value. Since this indicator comes from SMA, it plot SMA(up to 2) too.
Release Notes
Revise descriptionRelease Notes
Add these new features: 1. Add 3rd SMA, 2. hard-code 3rd SMA length for your next interval according to fast MA length(that say if your fast MA length is 24, smaller interval is 5m, and larger one is 30m, then your 3rd SMA length should be 6 * fast length(24)= 144). If your use different intervals, just do some minor adjust line between 13 and 18.Release Notes
Add Comment, and update chartRelease Notes
Add commentOpen-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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