OPEN-SOURCE SCRIPT
Custom Moving Average (EMA & SMA)
Updated
This script is a custom visualization tool to plot 4 Moving Averages (MA).
Each MA is customizable; you can:
Note:
Each MA is customizable; you can:
- enable (disable) the plot of MA;
- select whether the MA is an EMA or an SMA;
- the length;
- the source (open, close, ...);
- the offset value (default is 0).
Note:
- The 1st MA is an EMA with length 50.
- The others MAs are SMA with length 9, 30 and 100 respectively.
Release Notes
Now, you can choice the following type of averages:- EMA
- SMA
- VWMA
- TEMA
Note:
TEMA is the acronym of Triple Exponential Moving Average.
The formula and calculation for TEMA is:
TEMA =3∗EMA1 − 3∗EMA2 + EMA3
where:
EMA1 is the Exponential Moving Average (EMA)
EMA2 is the EMA of EMA1
EMA3 is the EMA of EMA2
Release Notes
New version of script.The Arnaud Legoux Moving Average (ALMA) is implemented. The ALMA indicator is a superior moving average as compared to the Exponential Moving and Simple Moving Averages.
The objective of the Arnaud Legoux Average is to minimize the noise and produce a more reliable signal than the conventional moving averages. The indicator (ALMA) removes small price fluctuations and also enhances the trend by applying a moving average (MA) twice, once from left to right, and once from right to left.
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.