OPEN-SOURCE SCRIPT
Moving Average Growth Rate
Updated
This indicator measures the growth rate of any given MA from it's previous value. It defaults to the 200 period but you can plug in any value you want. I like to use this on the weekly time frame with the 200 period MA because it is such a long term moving average that it has never once gone down on the BTC chart. Even though the rate of change always looks minuscule, this indicator more precisely measures the rate of change, potentially identifying states of massive overvaluation.
I have been testing this one for a long time and ended up reconfiguring it several times. I configured it to be used on any time frame. The coloring values are hard coded as follows:
Business As Usual (Lime): Growth Rate < 2
Heating Up (Orange): Growth Rate >= 2 and Growth Rate < 3
Warning (Red): Growth Rate >= 3
If you have any comments or suggestions let me know.
I have been testing this one for a long time and ended up reconfiguring it several times. I configured it to be used on any time frame. The coloring values are hard coded as follows:
Business As Usual (Lime): Growth Rate < 2
Heating Up (Orange): Growth Rate >= 2 and Growth Rate < 3
Warning (Red): Growth Rate >= 3
If you have any comments or suggestions let me know.
Release Notes
Updated chart with other drawings removed except the 200 MA line since that is what we are measuring with the indicator. The indicator at the bottom measures the growth rate of the blue line from week to week (or Day to day - whatever resolution you have the chart set to)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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