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OPEN-SOURCE SCRIPT

User Selectable Moving Average Guppy

By animecummer
Updated
A version of the popular "Moving Average Ribbon" or "Guppy" indicators, except nearly everything about it is user selectable. The user can change the source, period, and type of moving average used for every single line on the chart. Note: The visuals are fairly intensive and may take a moment to catch up after adjusting settings.

Credit: This script utilizes the "Color Gradient Framework" tutorial by LucF (PineCoders) to create gradient visuals, which are also customizable for the user.

Moving Average Options:
  • Running (SMoothed) Moving Average (RMA or SMMA) - Slowest
  • Simple Moving Average (SMA) - Slow
  • Exponential Moving Average (EMA) - Responds faster to price than SMA
  • Weighted Moving Average (WMA)
  • Volume-Weighted Moving Average (VWMA)
  • Triple EMA (TEMA)
  • Exponential Hull Moving Average (EHMA) - Hull with Smoothing (Slower than Hull)
  • Least Squares Moving Average (LSMA) - Simple Linear Regression
  • Arnaud Legoux Moving Average (ALMA) - Adjustable, set offset=1 to be current, offset=0.85 for good smoothing (Slower)
  • Hull Moving Average (HMA) - Normally responds fastest to price of all options


Value Added:
  • This script is unique in that it allows the user to chart the "Guppy", except nearly everything about it is customizable. The user can change the source, period, and type of moving average used for every single line.
  • Typically, the Guppy is plotted with simple moving average or exponential moving average, which respond much slower to price than the Hull Moving Average, which this indicator uses as default. (Elimination of lag)
  • The Hull MA settings for the highest time frame moving averages should work well for assessing the overall macro trend, with a nice visual presentation. Additional labels and alerts for the macro trend are available.
  • Furthermore, this script provides many more options for type of moving average than is typical for a moving average indicator that provides the user with options, including advanced options such as Hull, TEMA, and ALMA.
  • The visual presentation is customizable and should provide some entertainment for users who want to create pretty charts.
Release Notes
9-OCT-21 : Converted from Pine v4 to v5.
Release Notes
12-OCT-21: Added Tillson T3 upon request.
Release Notes
13-OCT-21: Fixed up Tillson T3 formula somewhat (was using a fixed source instead of selectable previously)
Release Notes
3-nov-21: added timeframe/gaps, consolidated menu, made color scheme consistent
Release Notes
5-nov-21: added rainbow colors
Release Notes
5-nov-21: reverted color scheme, rainbow will be used in future indicators, this one was fine as is
almaguppyhullMoving AveragesribbonselectionsmaTriple Exponential Moving Average (TEMA)Trend Analysis

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.

Want to use this script on a chart?

animecummer

Disclaimer

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