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OPEN-SOURCE SCRIPT

Displaced Moving Averages

By Traaaderz
Updated
Simple script to identify trends without the complexity or extra features of other popular indicators such as MACD or stochastic.
Release Notes
With the addition of the zero line it can be used as the MACD. It is less cluttered and preserves the original functionality of the indicator. When the faster moving average crosses over the slower moving average the signal is bullish and when it crosses under the signal is bearish. Long trades should be placed when both moving averages are over the horizontal signal line and short trades when both are below it.
Exponential Moving Average (EMA)

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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Traaaderz

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