Concept taken from the MT4 indicator 'Centre of Gravity'except this one doesn't repaint.
Modified / BinaryPro 3 / Permanent Marker
Ema configuration instead of sma & centralised.
Modified / BinaryPro 3 / Permanent Marker
Ema configuration instead of sma & centralised.
study("VEMA Band_v2", overlay=true) long = ema(close, 21) plot(long, color=blue, linewidth=2) //========================================================= source = close length3 = input(34, minval=1, title = "WMA Length") atrlen = input(3000, minval=1, title = "ATR Length") mult1 = 2 mult2 = 3 ma = ema(source, length3) range = tr rangema = wma(range, atrlen) up1 = ma + rangema * mult1 up2 = ma + rangema * mult2 dn1 = ma - rangema * mult1 dn2 = ma - rangema * mult2 color1 = black color2 = black u4 = plot(up1, color = color1,linewidth=1) u8 = plot(up2, color = color2,linewidth=1) d4 = plot(dn1, color = color1,linewidth=1) d8 = plot(dn2, color = color2,linewidth=1) fill(u8, u4, color=#30628E, transp=100) fill(d8, d4, color=#30628E, transp=100) fill(d4, u4, color=#128E89, transp=90) //Linear regression band //Input nlookback = input (defval = 21, minval = 1, title = "Lookback") scale = input(defval=1, title="scale of ATR") nATR = input(defval = 14, title="ATR Parameter") //Center band periods=input(34, minval=1, title="MA Period") pc = input(true, title="MA BAND") hld = iff(close > ema(high,periods)[1], 1, iff(close<ema(low,periods)[1],-1, 0)) hlv = valuewhen(hld != 0, hld, 1) hi = pc and hlv == -1 ? sma(high, periods) : na lo = pc and hlv == 1 ? sma(low,periods) : na plot(avg(ema(high,periods)+2.5*(ema(high,periods)-ema(low,periods)),ema(low,periods)-2.5*(ema(high,periods)-ema(low,periods))), color=red, style=line,linewidth=1) plot(pc and ema(high, periods) ? ema(high, periods):na ,title="Swing High Plot", color=black,style=line, linewidth=1) plot(pc and ema(low,periods) ? ema(low,periods) : na ,title="Swing Low Plot", color=black,style=line, linewidth=1) //------------------------------------------------------------------------------------------