For the settings: minimum MA represents the minimum simple moving average to consider for the total weighted average. Maximum MA represents the maximum simple moving average to consider. "Move By" is the increment that you want to move between these two moving averages.
A positive moving average difference indicates that the price is above the moving average difference (i.e. the weighted average of all moving average differences between your two selected moving averages). A negative moving average difference indicates that the price is below the moving average difference. I have added a signal with a configurable length input as well to smooth out trends.
You can configure colors and lengths, as well as the counting increment. Future updates may include different ways to calculate weights, perhaps on overlay or strategy.
Use my strategies on CryptoRobotics: cryptorobotics.co/?trade=f23b09
Contact me and I can build you a custom Tradingview-to-broker/exchange automation (via AWS).
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.