OPEN-SOURCE SCRIPT
Sequentially Filtered Moving Average MTF 3.2
This is a adaptation of Alex Grovers original work in pine 4.
Sequentially Filtered Moving Average MTF 3.2 is a Pine Script overlay indicator that plots three “sequentially filtered” moving averages. Each SFMA is an SMA that only updates when the underlying SMA has moved consistently in the same direction for its full lookback period; otherwise it holds its previous value (creating flat segments during chop).
The three filters can run on independent timeframes, are stepped/extended onto the current chart, and are colored bullish/bearish/neutral according to their direction (with optional “persistent neutral” coloring).
Optional fills between the lines and outer distance lines (scaled from the gap between the first two filters) provide visual context.
Typical use cases
Trend-following / trend-strength filter: the flats help ignore noise and highlight only sustained sequential moves.
Multi-timeframe confluence: align shorter- and longer-term filtered MAs for entry/exit bias or regime detection.
Visual trend channels or distance-based levels via the fills and outer lines.
Sequentially Filtered Moving Average MTF 3.2 is a Pine Script overlay indicator that plots three “sequentially filtered” moving averages. Each SFMA is an SMA that only updates when the underlying SMA has moved consistently in the same direction for its full lookback period; otherwise it holds its previous value (creating flat segments during chop).
The three filters can run on independent timeframes, are stepped/extended onto the current chart, and are colored bullish/bearish/neutral according to their direction (with optional “persistent neutral” coloring).
Optional fills between the lines and outer distance lines (scaled from the gap between the first two filters) provide visual context.
Typical use cases
Trend-following / trend-strength filter: the flats help ignore noise and highlight only sustained sequential moves.
Multi-timeframe confluence: align shorter- and longer-term filtered MAs for entry/exit bias or regime detection.
Visual trend channels or distance-based levels via the fills and outer lines.
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.