RedK Dual-Color Zero-Lag Moving Average (RedK ZLMA v1)

Here's my Dual-color Zero-Lag Moving Average indicator - with alerts - as a separate study

This is published in response to couple of requests i received. Please refer to previous posts on TA Basics on creating zero-lag MAs for more background.

This version adds couple of extras
- the ability to choose the price being used (close vs hl2 , hlc3..etc)

- ability to change resolution
the example chart below on the right uses a weekly resolution for the ZLMA on top of a daily chart - the left chart shows the same view but with the ZLMA resolution set to "same as chart"

- Alerts-enabled for when trend change is detected

- optional smoothing - keep the smoothing low (3 or 4) else it introduces lagging again

i hope some will find this useful
- the code is light and can easily be integrated into other indicators of your own - or you can add this ZLMA to your charts in combination with other MA's you use to easily identify trends and swings.

let me know your feedback.

Good luck!
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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?