OPEN-SOURCE SCRIPT
Polygot Moving Averages
Description
This is essentially a source merger of Bollinger Bands by Trading View and Simple Moving Averages by stoxxinbox. My additions and subtractions are minimal. There is the BB MA, which I default at 5d, and the other 4 averages are the standard 21, 50, 100, 200, day moving averages. I default the averaging method to WMA (Weighted Moving Average). The method of averaging can be changed as also can the lengths of the inputs to match user preferences. This is what I wanted for an indicator and didn't find.
Usage
The same as you would use any other BB or MA indicator. The benefit of this one is that it has 4 MAs, one MA with the Bollinger Bands attached, and the colours adjusted to be easy on the eyes when using high contrast themes, to be discernible yet sit quietly in the background with lines and candle sticks everywhere shouting for attention. I use it as a base first indicator which I can hide easily (imagine hiding five MA indicators individually constantly) when the more serious indicators come into play.
This is essentially a source merger of Bollinger Bands by Trading View and Simple Moving Averages by stoxxinbox. My additions and subtractions are minimal. There is the BB MA, which I default at 5d, and the other 4 averages are the standard 21, 50, 100, 200, day moving averages. I default the averaging method to WMA (Weighted Moving Average). The method of averaging can be changed as also can the lengths of the inputs to match user preferences. This is what I wanted for an indicator and didn't find.
Usage
The same as you would use any other BB or MA indicator. The benefit of this one is that it has 4 MAs, one MA with the Bollinger Bands attached, and the colours adjusted to be easy on the eyes when using high contrast themes, to be discernible yet sit quietly in the background with lines and candle sticks everywhere shouting for attention. I use it as a base first indicator which I can hide easily (imagine hiding five MA indicators individually constantly) when the more serious indicators come into play.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.