Updated
F.B_Double Hull Moving Average Trend Tracker
The F.B_Double Hull Moving Average Trend Tracker indicator is designed to identify market trends and is based on two Hull Moving Averages.
The first derivative is calculated for each HMA 1 and HMA 2.
If HMA 1 derivative > 0 and HMA 2 derivative > 0, then color the HMA lines and bar color green.
If HMA 1 derivative < 0 and HMA 2 derivative < 0, then color the HMA lines and bar color red.
If the slope of the derivative is different between HMA 1 and HMA 2, then color the HMA lines and bar color gray.
Meaning of colors:
Green ⇒ Uptrend
Gray ⇒ Price consolidation, trend weakness, or correction
Red ⇒ Downtrend
Best used in conjunction with additional indicators.
The "Hull Moving Average" (HMA) is a fast and smooth moving average that exhibits a rather unique behavior. The HMA attempts to completely remove lag while simultaneously presenting smoother results.
The first derivative is calculated for each HMA 1 and HMA 2.
If HMA 1 derivative > 0 and HMA 2 derivative > 0, then color the HMA lines and bar color green.
If HMA 1 derivative < 0 and HMA 2 derivative < 0, then color the HMA lines and bar color red.
If the slope of the derivative is different between HMA 1 and HMA 2, then color the HMA lines and bar color gray.
Meaning of colors:
Green ⇒ Uptrend
Gray ⇒ Price consolidation, trend weakness, or correction
Red ⇒ Downtrend
Best used in conjunction with additional indicators.
Release Notes
Name: [F.B]_Double HMATT to [F.B]_DHMA
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.
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.