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Madrid

Madrid Trend Spotter

Madrid Wizard Updated   
Moving Averages Exponential Moving Average (EMA) Simple Moving Average (SMA)
789
6
movingaverage ema simplemovingaverage
This study shows a pair of colored moving averages filled with the color of the direction of the trend.
This study calculates the moving averages with standard or exponential M.A.'s. By default it uses a couple of fast exponential moving average pair (5,13) with the closing price as the source.

Parameters:
  • source
  • fast MA length
  • slow MA Length
  • type of moving average
Release Notes:
This is an updated version of the Madrid Trend Spotter Script recompiled and adjusted for pinescript 3.0
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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