Get started
OPEN-SOURCE SCRIPT
Updated

predictive_moving_average

7 225

Description:
Originated by John F. Ehlers, could be found within (Rocket Science for Traders, pg. 212). Aim to provide a leading indicator (I assumed for the shorter time period), which smoothed the price with no lag. The indicator derives from 2 lines crossing i.e. a weighted moving average, of higher length as a predictor and shorter length as a trigger.

Predictive Moving Average:
predict = 2*wma1 - wma2
trigger = (4*predict+3*predict[1]+2*predict[2]+predict)/10

Feature:
  • Predictive moving average
  • Deviation band


Notes
  • Consider the support/resistance (dynamic) when entering the position
  • Some short direction change might be identified from deviation shrink
  • Green indicates to enter/long, while red indicates to close/short position
    Release Notes

    Predictive Moving Average:
    predict = 2*wma1 - wma2
    trigger = (4*predict+3*predict[1]+2*predict[2]+predict)/10
    Release Notes
    .
    Release Notes
    .
    Release Notes
    changed to overlay, with a slight adjustment in the color condition
    Release Notes
    update on additional options of band/envelope and bar-color

    example:
    snapshot
    Release Notes
    update on close alert

    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.

    palitoj_endthen
    ehlersMoving Averagespredictivepredictivemovingaverage

    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.
    ehlersMoving Averagespredictivepredictivemovingaverage

    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.

    palitoj_endthen

    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.