OPEN-SOURCE SCRIPT
Multi HMA Slopes [Loxx]
Multi HMA Slopes [Loxx] is an indicator that checks slopes of 5 (different period) Hull Moving Averages and adds them up to show overall trend. To us this, check for color changes from red to green where there is no red if green is larger than red and there is no red when red is larger than green. When red and green both show up, its a sign of chop.
What is the Hull Moving Average?
The Hull Moving Average (HMA) attempts to minimize the lag of a traditional moving average while retaining the smoothness of the moving average line. Developed by Alan Hull in 2005, this indicator makes use of weighted moving averages to prioritize more recent values and greatly reduce lag.
Included
What is the Hull Moving Average?
The Hull Moving Average (HMA) attempts to minimize the lag of a traditional moving average while retaining the smoothness of the moving average line. Developed by Alan Hull in 2005, this indicator makes use of weighted moving averages to prioritize more recent values and greatly reduce lag.
Included
- Signals: long, short, continuation long, continuation short.
- Alerts
- Bar coloring
- Loxx's expanded source types
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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