Historical Average
Historical Average is a script written in the Pine Script language and is used to calculate various types of moving averages. Moving averages are statistical measures that smooth out data over time, making it easier to identify trends and patterns. This script allows the user to select from several different types of moving averages, including Simple Moving Average (SMA), Linear Weighted Moving Average (LWMA), Exponential Moving Average (EMA), Double Exponential Moving Average (DEMA), Triple Exponential Moving Average (TEMA), and Quadruple Exponential Moving Average (QEMA). The script also allows the user to specify a data source for the moving averages to be calculated from.
To use this script, the user simply needs to specify the data source and select the desired moving average type from the list. The script will then calculate and plot the selected moving average on the chart. This can be useful for traders and investors who want to gain a better understanding of the trends and patterns in the data they are analyzing.
To use this script, the user simply needs to specify the data source and select the desired moving average type from the list. The script will then calculate and plot the selected moving average on the chart. This can be useful for traders and investors who want to gain a better understanding of the trends and patterns in the data they are analyzing.