OPEN-SOURCE SCRIPT
Guppy Waves
A lightweight version of the popular "Moving Average Ribbon" or "Guppy" indicators where the visuals are plotted as "waves" rather than moving average lines. As is customary for my indicators, nearly everything about it is user selectable.
Visual Features:
Moving Average Options:
The user can change the source, period, and type of moving average used for every single line on the chart.
Visual Features:
- User Customizable Colors
- RSI-Based Rainbow Color Scheme
- Simple Offset for adjusting transparency
- Create great-looking charts very easily
Moving Average Options:
- Running (SMoothed) Moving Average (RMA or SMMA ) - very slow/smooth
- Simple Moving Average ( SMA )
- Exponential Moving Average ( EMA )
- Weighted Moving Average ( WMA )
- Volume-Weighted Moving Average ( VWMA )
- Triple EMA ( TEMA ) - very fast
- Exponential Hull Moving Average (EHMA) - Hull with Smoothing (Slower than Hull)
- Least Squares Moving Average ( LSMA ) - Simple Linear Regression
- Arnaud Legoux Moving Average ( ALMA ) - Adjustable, set offset=1 to be current, offset=0.85 for good smoothing
- Hull Moving Average ( HMA ) - very fast
- Tillson T3 - very smooth
- Donchian Moving Average - plots the average of (lowest, highest) for a given period length
The user can change the source, period, and type of moving average used for every single line on the chart.
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.