Madrid Moving Average — Indicator by Madrid

moving average movingaverage madrid simplemovingaverage ema

This plots the moving averages, either exponential or standard. When it is declining it shows the MA in red, green when rising.
Trading MA: Bullish when it is rising, Bearish when it is falling

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.

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Want to use this script on a chart?

//
// Madrid : 03/30/2014 : Moving Average : 2.0
// http://madridjourneyonws.blogspot.com/
//
// This plots the moving averages, either exponential or standard
// When it is declining it shows the MA in red, green when rising.
// Trading MA: Bullish when it is rising, Bearish when it is falling
//

study(title="Madrid Moving Average", shorttitle="MMA", overlay=true)
maLen = input(21,  minval=1, title="MA Length")
exponential = input(true)

src = close
ma = exponential ? ema(src, maLen) : sma(src, maLen)

maColor = change(ma)>0 ? green : change(ma)<0 ? red : na
plot( ma, color=maColor, style=line, title="MMA", linewidth=2)