WMA Short term bands — Indicator by IvanLabrie

These are WMA bands, that measure 100 period atr vs a 56 period moving average to give you the normal trading range.
Dotted lines are good for stops and take profit levels.

🔒Want to dive deeper? Check out my paid services below🔒

linktr.ee/ivanlabrie

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?

study(title="WMA Short term Bands", shorttitle="WMASTB", overlay=true)
source = close
length = input(56, minval=1, title = "WMA Length")
atrlen = input(100, minval=1, title = "ATR Length")
mult1 = 2
mult2 = 3
ma = wma(source, length)
range =  tr
rangema = wma(range, atrlen)

up1 = ma + rangema * mult1
up2 = ma + rangema * mult2

dn1 = ma - rangema * mult1
dn2 = ma - rangema * mult2

color1 = red
color2 = red

u4 = plot(up1, color = color1)
u8 = plot(up2, color = color2)

d4 = plot(dn1, color = color1)
d8 = plot(dn2, color = color2)

Related Ideas

about GBPCHF 3