OPEN-SOURCE SCRIPT
Moving Average Deviations
Inputs:
MA Length = select the length period of the moving average
Timeframe = select the timeframe you want the indicator to operate on
Moving Average Type = select the type of moving average you want to use- most common ones are listed
Lookback = The histogram comparison period. A longer lookback will give fewer signals.
"Compare this reading to the past [Lookback #] of readings"
Threshold = The percent change in reading required compared to the lookback period to paint a bar dark red or dark green. A smaller threshold gives fewer readings.
"Compare this reading and only look for the top [Threshold %] of moves"
This moving average creates a histogram plot of the percent deviation from a specified moving average. Above paints faint green, and below paints faint red.
Dark red/green are painted in the direction of the move when the move is above the Threshold % when compared to the past Lookback length.
This script is optimally used to countertrend. It paints a good place to buy the dip or sell the rip given extensions-- different variant of overbought/oversold.
In this example, I used the 100 SMA, 100 period lookback, and a threshold of 7% [Default].
MA Length = select the length period of the moving average
Timeframe = select the timeframe you want the indicator to operate on
Moving Average Type = select the type of moving average you want to use- most common ones are listed
Lookback = The histogram comparison period. A longer lookback will give fewer signals.
"Compare this reading to the past [Lookback #] of readings"
Threshold = The percent change in reading required compared to the lookback period to paint a bar dark red or dark green. A smaller threshold gives fewer readings.
"Compare this reading and only look for the top [Threshold %] of moves"
This moving average creates a histogram plot of the percent deviation from a specified moving average. Above paints faint green, and below paints faint red.
Dark red/green are painted in the direction of the move when the move is above the Threshold % when compared to the past Lookback length.
This script is optimally used to countertrend. It paints a good place to buy the dip or sell the rip given extensions-- different variant of overbought/oversold.
In this example, I used the 100 SMA, 100 period lookback, and a threshold of 7% [Default].
Script de código abierto
Siguiendo fielmente el espíritu de TradingView, el autor de este script lo ha publicado en código abierto, permitiendo que otros traders puedan entenderlo y verificarlo. ¡Olé por el autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la reutilización de este código en la publicación se rige por las Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.
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