OPEN-SOURCE SCRIPT
5 MA's (SMA/EMA) Color Changing with Arrow Signals
This indicator is a highly customizable multi-trend analysis tool designed to show market momentum across 5 different moving averages simultaneously. It helps traders identify alignment in market structure from short-term to long-term timeframes.
Key Features:
5 Fully Customizable Lines: By default, it loads the classic 10, 20, 50, 100, and 200 periods. Each line can be independently toggled on/off.
EMA/SMA Flexibility: You can easily switch each individual moving average between an SMA (Simple Moving Average) and an EMA (Exponential Moving Average) via a simple dropdown menu in the settings.
Dynamic Color Coding: The lines automatically change color in real-time based on price action. They turn Green when the price closes above the line (Bullish Support) and Red when the price falls below (Bearish Resistance).
Earliest Trend-Shift Signals (Arrows): The indicator features a built-in state engine. As soon as all 5 active moving averages align in the same direction, a signal is triggered. A green triangle appears below the bar at the exact earliest moment a full bullish trend establishes, and a red triangle appears above the bar when a full bearish trend establishes.
How to use it:
This script is excellent for trend-following strategies, breakout trading, and identifying institutional trend alignment. It eliminates chart clutter by combining 5 separate indicators into one efficient tool.
Key Features:
5 Fully Customizable Lines: By default, it loads the classic 10, 20, 50, 100, and 200 periods. Each line can be independently toggled on/off.
EMA/SMA Flexibility: You can easily switch each individual moving average between an SMA (Simple Moving Average) and an EMA (Exponential Moving Average) via a simple dropdown menu in the settings.
Dynamic Color Coding: The lines automatically change color in real-time based on price action. They turn Green when the price closes above the line (Bullish Support) and Red when the price falls below (Bearish Resistance).
Earliest Trend-Shift Signals (Arrows): The indicator features a built-in state engine. As soon as all 5 active moving averages align in the same direction, a signal is triggered. A green triangle appears below the bar at the exact earliest moment a full bullish trend establishes, and a red triangle appears above the bar when a full bearish trend establishes.
How to use it:
This script is excellent for trend-following strategies, breakout trading, and identifying institutional trend alignment. It eliminates chart clutter by combining 5 separate indicators into one efficient tool.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.