OPEN-SOURCE SCRIPT
HEYC-Bands-Strategy by Hassonya
Hey guys, HEYC-Bands-Strategy indicator is moving average envelopes trend tracker system are pivot-based envelopes set above and below a moving average. Envelope is then set the high and low above or below the moving average. This creates parallel bands that follow price action. With a moving average as the base, Moving Average Envelopes can be used as a trend following indicator. However, this indicator is not limited to just trend following. You can also use it as support and resistance. The indicator aims to ensure that you follow the trend with maximum consistency and stay in the trend.
The indicator has 15 different options that form the basis of the moving average. What options are these?
- EMA - Exponential Moving Average
- WMA - Weighted Moving Average
- VWMA - Volume-Weighted Moving Average
- DEMA - Double Exponential Moving Average
- TEMA - Triple Exponential Moving Average
- LAGMA - Laguerre Moving Average
- HULLMA - Hull Moving Average
- EHMA - Exponential Hull Moving Average
- ETMA - Exponential Triangular Moving Average
- SSMA - Super-Smoother Moving Average
- ALMA - Arnaud Legoux Moving Average
- VIDYA - Variable Index Dynamic Average
- STMA - Triangular Moving Average
- ZEMA - Zero-Lag Exponential Moving Average
- SMA - Simple Moving Average
With the simplest logic, you can use it as buy when the price closes on the band, and sell when the price closes below the band.
Vertical lines and background guide you in the buying/selling trend changes in the indicator settings.
Thanks for support
The indicator has 15 different options that form the basis of the moving average. What options are these?
- EMA - Exponential Moving Average
- WMA - Weighted Moving Average
- VWMA - Volume-Weighted Moving Average
- DEMA - Double Exponential Moving Average
- TEMA - Triple Exponential Moving Average
- LAGMA - Laguerre Moving Average
- HULLMA - Hull Moving Average
- EHMA - Exponential Hull Moving Average
- ETMA - Exponential Triangular Moving Average
- SSMA - Super-Smoother Moving Average
- ALMA - Arnaud Legoux Moving Average
- VIDYA - Variable Index Dynamic Average
- STMA - Triangular Moving Average
- ZEMA - Zero-Lag Exponential Moving Average
- SMA - Simple Moving Average
With the simplest logic, you can use it as buy when the price closes on the band, and sell when the price closes below the band.
Vertical lines and background guide you in the buying/selling trend changes in the indicator settings.
Thanks for support
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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