OPEN-SOURCE SCRIPT
Really Moving Averages [BruzX]
█ OVERVIEW
This indicator shows the the current values of up to five different moving averages (MA) as horizontal levels. Each moving average can have a different length and timeframe. This enables you to see quickly, easily and minimalistically the current values without having clutter your chart with multiple plots. The levels are displayed in a style which is visually consistent with the other indicators in the free and open-source "Really" series and they look good together. The lines start at the bar where the currently shown value is valid from, i.e. from the starting bar of the chosen timeframe. The averages are shown correctly for timeframes both greater than and less than the current chart timeframe. Note that the indicator uses the same dividends adjustment, back-adjustment and/or settlement price settings as are used on your charts, so make sure you have the charts set up as intended.
█ FEATURES
█ RATIONALE
Why does this indicator exist? What does it bring over other MA indicators? Why isn't is part of Really Key Levels?
█ DISCLAIMER
This indicator is provided for information only and should not be used in isolation without a good understand of what is it showing and without considering other factors. You should not take trades using real money based solely on what this indicator says. Any trades you take are entirely at your own risk.
This indicator shows the the current values of up to five different moving averages (MA) as horizontal levels. Each moving average can have a different length and timeframe. This enables you to see quickly, easily and minimalistically the current values without having clutter your chart with multiple plots. The levels are displayed in a style which is visually consistent with the other indicators in the free and open-source "Really" series and they look good together. The lines start at the bar where the currently shown value is valid from, i.e. from the starting bar of the chosen timeframe. The averages are shown correctly for timeframes both greater than and less than the current chart timeframe. Note that the indicator uses the same dividends adjustment, back-adjustment and/or settlement price settings as are used on your charts, so make sure you have the charts set up as intended.
█ FEATURES
- Shows the currently value of up to five moving averages with freely selectable lengths and timeframes. Add more instances for move that five MAs.
- You can choose between Simple Moving Average (SMA), Exponential Moving Average (EMA) or Relative Moving Average (RMA), also known as the Wilder's Moving Average or the Smoothed Moving Average (SMMA). A single MA type is used for all the MAs. To use different MA types, add multiple instances of the indicator.
- For symbols that have Extended Trading Hours (ETH) you can force the indicator to use only bars from Regular Trading Hours (RTH) even when the chart is showing ETH.
- You can choose to include the currently forming bar (which causes repainting) or only bars which are confirmed in the chosen timeframe.
- You can choose a colour, line style and line width. The same is used for all MAs. To use different colours, line styles or widths, add multiple instances of the indicator and configure each one differently.
- Visually similar to other indicators in the free "Really" series (e.g. Really Key Levels).
█ RATIONALE
Why does this indicator exist? What does it bring over other MA indicators? Why isn't is part of Really Key Levels?
- A simpler version of this indicator with three fixed lengths and timeframe used to be part of Really Key Levels. It was split out into this separate indicator to allow more options, to not overload Really Key Levels with options and since Really Key Level is not really meant for levels which usually change on every bar (as is the case with moving averages).
- Most other MA indicator use plots, and when you want to monitor multiple MAs in parallel, this will cause the chart to quickly fill with lots of wiggly lines and can overwhelm the chart with clutter. This indicator only shows the current values as a limited length horizontal line.
- The indicator is visually consistent with other "Really" indicators and looks good together with them. Users using other "Really" indicators may want to use this one for MAs to have pretty charts.
- Handling data correctly from timeframes which can be either greater than or less that the chart timeframe is not trivial; this indicator does it right.
- It was originally created by request from some users of the other "Really" indicators.
█ DISCLAIMER
This indicator is provided for information only and should not be used in isolation without a good understand of what is it showing and without considering other factors. You should not take trades using real money based solely on what this indicator says. Any trades you take are entirely at your own risk.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
If you like my free indicators, please consider my paid ones also: marketalchemists.org/indicators
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
If you like my free indicators, please consider my paid ones also: marketalchemists.org/indicators
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.