OPEN-SOURCE SCRIPT
Dual SMA/EMA Bands
Updated
The Dual SMA/EMA Bands indicator provides a clear view of market trends, combining Simple Moving Averages (SMA) and Exponential Moving Averages (EMA) in one customizable tool. Designed for any timeframe, it features Aqua and Purple Bands for 50-period and 200-period averages, respectively, aiding in trend analysis and volatility insights.
Features:
Adaptive Timeframes: Automatically aligns with the chart’s timeframe or can be manually set for cross-timeframe analysis.
Customization: Offers easy adjustments for colors, line thickness, and opacity to suit personal preferences and enhance readability.
Insights: Facilitates trend confirmation and volatility assessment, essential for informed trading decisions.
Usage Tips:
Use the bands to gauge market direction; above the bands suggests bullish conditions, below them indicates bearish trends.
The gap between EMA and SMA within each band can signal market volatility.
Apply customizable timeframes for a comprehensive market overview.
Conclusion:
With its straightforward setup and versatile application, the Dual SMA/EMA Bands indicator is a valuable tool for traders looking to deepen their market analysis and uncover trading opportunities.
Features:
Adaptive Timeframes: Automatically aligns with the chart’s timeframe or can be manually set for cross-timeframe analysis.
Customization: Offers easy adjustments for colors, line thickness, and opacity to suit personal preferences and enhance readability.
Insights: Facilitates trend confirmation and volatility assessment, essential for informed trading decisions.
Usage Tips:
Use the bands to gauge market direction; above the bands suggests bullish conditions, below them indicates bearish trends.
The gap between EMA and SMA within each band can signal market volatility.
Apply customizable timeframes for a comprehensive market overview.
Conclusion:
With its straightforward setup and versatile application, the Dual SMA/EMA Bands indicator is a valuable tool for traders looking to deepen their market analysis and uncover trading opportunities.
Release Notes
Update: Smoothing Feature Added to Dual SMA/EMA Bands IndicatorWe've updated the Dual SMA/EMA Bands Indicator with a smoothing option to reduce the "step" effect seen when the indicator's timeframe is higher than the chart's. This option is available in the settings and works best when the timeframe ratio is an integer. It's designed for clearer trend analysis on lower timeframe charts by smoothing out the moving averages.
Key Points:
Smoothing option in settings: Toggle on for a smoother moving average line.
Effective when the selected timeframe to chart's timeframe ratio is an integer.
Aimed at providing a clearer view of trends without the distracting "steps."
Activate smoothing in the indicator settings by choosing "Yes" under "Smooth?".
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.
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.