Moving Average Envelopes Backtest — Strategy by HPotter

movingaverage trendanalysis envelopes strategy backtesting algotrading

Moving Average Envelopes are percentage-based envelopes set above and
below a moving average. The moving average, which forms the base for
this indicator, can be a simple or exponential moving average. Each
envelope is then set the same percentage above or below the moving average.
This creates parallel bands that follow price action. With a moving average
as the base, Moving Average Envelopes can be used as a trend following indicator.
However, this indicator is not limited to just trend following. The envelopes
can also be used to identify overbought and oversold levels when the trend is
relatively flat.

You can change long to short in the Input Settings
WARNING:
- For purpose educate only
- This script to change bars colors.

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.

Want to use this script on a chart?