OPEN-SOURCE SCRIPT
Updated Correlated ATR MA | Adulari
How do I use it?
Features:
How does it work?
1 — ATR value is calculated, then the correlation between the source and ATR is calculated.
2 — Signal value is calculated from the difference between the previous source and ATR values.
3 — Final value is being calculated using the following formula:
4 — Moving average is calculated by getting the average of 3 values: a normal HMA, HMA plus final value, and HMA minus final value.
- Never use this indicator as standalone trading signal, it should be used as confluence.
- When the price is above the moving average this shows the bullish trend is strong.
- When the price is below the moving average this shows the bearish trend is strong.
- When the moving average is purple, the trend is bullish, when it is gray, the trend is bearish.
Features:
- Purple line for bullish trend and gray line for bearish trend.
- Custom formula combining an ATR and Hull MA to clearly indicate trend strength and direction.
- Unique approach to moving averages by taking the average of 3 types of MA's combined with custom ATR's.
How does it work?
1 — ATR value is calculated, then the correlation between the source and ATR is calculated.
2 — Signal value is calculated from the difference between the previous source and ATR values.
3 — Final value is being calculated using the following formula:
Pine Script®
cor * target + (1 - cor) * nz(atr[1], target)
4 — Moving average is calculated by getting the average of 3 values: a normal HMA, HMA plus final value, and HMA minus final value.
Release Notes
- Removed unnecessary old code.
- Fixed some minor issues with the calculations.
Release Notes
- Fixed correlation calculations.
- Added weight option.
Release Notes
- Changed weight default value.
Release Notes
- Added a time adaptive option which will make sure the MA is useable on lower timeframes.
Release Notes
- Fixed time adaptive calculations for higher timeframes.
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.
Adulari - Software Company
Site: adulari.dev
Discord: discord.gg/adulari
Site: adulari.dev
Discord: discord.gg/adulari
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.
Adulari - Software Company
Site: adulari.dev
Discord: discord.gg/adulari
Site: adulari.dev
Discord: discord.gg/adulari
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.