OPEN-SOURCE SCRIPT
A simple double moving average system
# This simple code is describing the double moving average system, thanks for the contribution of Lei and jchang264
# The moving average system is including the SMA(20,60,120) and EMA(20,60,120), which use the different colours and style
# The bar is using the different colours to describe the different state, for example the black one mean the season of the trendy didn't form, the blue mean to reach the first phase of the trendy, the state of gray bar just between the black and blue, The gold one mean the season of the trend has already forming (SMA20 > SMA60 > SMA120), which one I think it is important.
# Price mark mean the deduction price of 20, 60 and 120
# The moving average system is including the SMA(20,60,120) and EMA(20,60,120), which use the different colours and style
# The bar is using the different colours to describe the different state, for example the black one mean the season of the trendy didn't form, the blue mean to reach the first phase of the trendy, the state of gray bar just between the black and blue, The gold one mean the season of the trend has already forming (SMA20 > SMA60 > SMA120), which one I think it is important.
# Price mark mean the deduction price of 20, 60 and 120
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.