OPEN-SOURCE SCRIPT
Updated DARYL GUPPY'S MMA (MULTIPLE MOVING AVERAGES)
This script plots 2 separate bundles of moving averages, consisting of 6 different MAs each, with the goal to avoid some false signal provided by individual MAs, and was designed by Daryl Guppy, an Australian trader.
The first bundle consists of 6 "fast" MAs (default width: 3, 5, 8, 10, 12, 15 periods) and is highlighted in blue. The second consists of 6 "slow" MAs (default width: 30, 35, 40, 45, 50, 60 periods) and is highlighted in orange. However I made it possible to modify the width for each MA. The original Daryl Guppy's MMA is made of EMAs, however this script also includes the possibility to plot SMAs instead.
From an operational point of view, those bundles act like individual MAs. So the trader should watch for crosses, convergences and divergencies between the 2 bundles and between the individual averages.
The first bundle consists of 6 "fast" MAs (default width: 3, 5, 8, 10, 12, 15 periods) and is highlighted in blue. The second consists of 6 "slow" MAs (default width: 30, 35, 40, 45, 50, 60 periods) and is highlighted in orange. However I made it possible to modify the width for each MA. The original Daryl Guppy's MMA is made of EMAs, however this script also includes the possibility to plot SMAs instead.
From an operational point of view, those bundles act like individual MAs. So the trader should watch for crosses, convergences and divergencies between the 2 bundles and between the individual averages.
Release Notes
Fixed some error inside the code: previously the script only plotted EMAs; now it will let you correctly choose to plot SMAs if you want it.More, I cleaned the script settings window, removing all the unnecessary input options, and adding 2 boxes to enable/disable the entire bundles plots with only one click. Same for the source price selection.
Hope you like the script. Please put your likes and support me if you appreciate my work.
Bezzus
Release Notes
Updates:- Added support for Double Exponential MA (DEMA) and Triple Exponential MA (TEMA)
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.