This is a simple experimental study designed to outline trend activity and volatility. In this study, the amount of change between current source and source of a specified lookback is calculated, then added to and subtracted from current source. Next an exponential moving average is taken of the values for smoothing over the specified period. Lastly, a midline is generated by taking the median of both bands.
Release Notes
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Updates: Expanded the available moving average types. Now, instead of only an exponential moving average, the available moving averages now in this script are: -Exponential Moving Average -Simple Moving Average -Smoothed Moving Average -Weighted Moving Average -Volume Weighted Moving Average -Least Squares Moving Average -Arnaud Legoux Moving Average -Hull Moving Average -Coefficient of Variation Weighted Moving Average -Fractal Adaptive Moving Average -Kaufman's Adaptive Moving Average
Added a set of half range bands for a more in depth picture of volatility.
Added a custom color scheme to the midline and bars, which highlights coherent and divergent waves.
@fc43f53cc23c4fee94b525e3296905, take the script go to "make a copy" when you look at the source code and then save it. Right upper corner choose "convert to v5". Anyway, it should still work in v4?!