OPEN-SOURCE SCRIPT
Trend Direction with MA Options [TeyoV5]
This versatile indicator provides a clear visual representation of the underlying trend direction by applying multiple smoothing techniques to the price data. Users can customize the indicator to suit their specific trading style and market conditions by adjusting the following parameters:
Smoothing Methods: Choose from a variety of smoothing methods, such as Simple Moving Average (SMA), Exponential Moving Average (EMA), Weighted Moving Average (WMA), and more.
Smoothing Periods: Adjust the length of the smoothing periods to fine-tune the indicator's sensitivity to price changes.
Trend Confirmation: The indicator can be configured to generate buy and sell signals based on specific criteria, such as crossovers between differently smoothed lines or divergence from price action.
Smoothing Methods: Choose from a variety of smoothing methods, such as Simple Moving Average (SMA), Exponential Moving Average (EMA), Weighted Moving Average (WMA), and more.
Smoothing Periods: Adjust the length of the smoothing periods to fine-tune the indicator's sensitivity to price changes.
Trend Confirmation: The indicator can be configured to generate buy and sell signals based on specific criteria, such as crossovers between differently smoothed lines or divergence from price action.
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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