OPEN-SOURCE SCRIPT
MA20 Dual Color Line Indicator
MA20 Dual Color Line Indicator
The MA20 Dual Color Line is a simple yet effective moving average indicator designed to help traders quickly visualize price trends and potential reversal points. It plots a 20-period Simple Moving Average (SMA) that changes color based on the relationship between the current closing price and the moving average itself.
🔶 How It Works
When the close price is above the MA20, the moving average line turns green, suggesting a potential bullish trend.
When the close price is below the MA20, the line turns red, indicating a possible bearish trend.
If the price is exactly at the MA20, the line remains white, highlighting a neutral or decision point.
📈 Ideal For
Identifying trend direction at a glance
Spotting support and resistance levels around the MA20
Enhancing visual analysis without cluttering the chart
🛠 Features
Clean and customizable line width
Real-time color switching based on price action
Overlay display to keep charts organized
This indicator is perfect for traders who prefer a clear, color-coded visual aid to complement their trading strategy. Whether you’re a beginner or an experienced trader, the MA20 Dual Color Line helps you stay aligned with the short-term trend.
The MA20 Dual Color Line is a simple yet effective moving average indicator designed to help traders quickly visualize price trends and potential reversal points. It plots a 20-period Simple Moving Average (SMA) that changes color based on the relationship between the current closing price and the moving average itself.
🔶 How It Works
When the close price is above the MA20, the moving average line turns green, suggesting a potential bullish trend.
When the close price is below the MA20, the line turns red, indicating a possible bearish trend.
If the price is exactly at the MA20, the line remains white, highlighting a neutral or decision point.
📈 Ideal For
Identifying trend direction at a glance
Spotting support and resistance levels around the MA20
Enhancing visual analysis without cluttering the chart
🛠 Features
Clean and customizable line width
Real-time color switching based on price action
Overlay display to keep charts organized
This indicator is perfect for traders who prefer a clear, color-coded visual aid to complement their trading strategy. Whether you’re a beginner or an experienced trader, the MA20 Dual Color Line helps you stay aligned with the short-term trend.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.