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LRMA

Dreadblitz  
Moving Averages lrma
156
3
movingaverage lrma
This indicator is calculated the following way:

LRMA =
3.0 *
LWMA (Price)
– 2.0 *
SMA(Price)

where:

LWMA – linearly weighted smoothing
SMA – simple smoothing
PRICE – price series value
All calculation are made on the current bar and with the current price value.

This indicator clearly shows market trends dividing a price chart into two sectors. If a price is above the indicator line, the trend is going upwards. If a price is below the indicator line, the trend is going downwards.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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.

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