OPEN-SOURCE SCRIPT
Updated Moving Average Periodical Divergence
Uses the difference between two PMA (Moving Average Periodical) indicators to create an oscillator.
Useful for visualizing daily/weekly cycles, strength and potential momentum. The defaults are 2 days (fast) and 5 days (slow).
Useful for visualizing daily/weekly cycles, strength and potential momentum. The defaults are 2 days (fast) and 5 days (slow).
Release Notes
Change-list:- Now allows for targeting varying moving average types. Now SMA, WMA, and EMA are options and can be compared against each other. The fast MA can be EMA and the slow can be WMA.
- Floats are now used for values to allow for more fine tuning.
Release Notes
Corrected screenshot.Release Notes
Allow for using the fast MA as the source for the slow.Facilitates MACD style behavior.
Release Notes
Updated chart example.
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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