Moving Average Ribbon [TheBearFighter]

TheBearFighter Updated   

This code was written using:
•Pine Script Coding Conventions.

This script provides a very useful tool for new community users and professionals. It puts at your disposal a Moving Average Ribbon by hand to graph and easily find the ones with the highest performance. The creation of this script was motivated because in free TradingView accounts there is a limit of 3 indicators by chart, and with this tool you can draw up to 32 MA's at the same time!

Choose one of 10 types of MA´s:
•KAMA Kaufman's moving average.
•HULL Hull moving average.
•TEMA Triple exponencial moving average.
•LSMA Least square moving average.
•DEMA Double exponencial moving average.
•ALMA Arnaud Legoux moving average.
•WMA Weighted moving average
•EMA Exponencial moving average.
•VWMA Volume Weighted moving average.
•SMA Simple moving average.

Use the tooltips to know the lengths of MA´s.

A main characteristic of the script is that the lengths are in days but when changing the lowest timeframes, the same daily resolution is maintained. This gives us extreme precision in intraday timeframes, e.g 30 minutes.

Once this is understood, we can turning the MA´s on/off, and changing the timeframe to our liking.
Available timeframes: M, W, D, 4H, 1H, 30m, 15m, 5m.

Also the MA´s are colored for easy visualization and know if they grow or decrease.

Thank´s to @ImmortalFreedom to let me know more about HEX colors.

Thank´s to @HPotter for his KAMA.

Release Notes:
Less is more :
-TEMA and DEMA were removed (I will create another exclusive indicator for this type).
-The amount of moving averages was reduced from 32 to 20.

Why? creating this script I learned a lot about the limitations of PineScript. I ran into errors like.
-compiled script code is too long: 60001. The limit is 60000.
-maximum number of output series (64) was reached.
-max security call 40. and many others.

So length variables were redefined so that NOW YOU CAN SET YOUR FAVORITE LENGTHS!. With the previous script, if any length was modified, it was completely deconfigured in intraday and the ma colors.
To do that go the section // initial lengths. SET THE LENGHTS YOU USE HERE---{ }

The funtion syminfo.type was added, the available timeframes and lengths are based on the asset class.
A color menu was added for better visualization, in light or dark themes.

If you want to change linewidth go to plot section. //---plots{ }

The most important change of this update is the message shown in intraday time frames. The message guides you how to configure in BARS PER SESSION (settings).

Available timeframe: 2H was added (only for crypto and forex).

Thanks to @Shauryam_or for his Candle Count script used in section //---table{ }
Thanks to @pabloadrianinostroza for motivating me to update this tool and make it useful to analyze stocks in the US and Argentine market.
Thanks to @topo for his feedback.
Release Notes:
TEMA and DEMA were added again.
The number of moving averages was increased from 20 to 32 again.
Release Notes:
Input source were added. Choose: open, high, low, close, hl2, hlc3, or ohlc4.
Release Notes:
Upgrade to Pine Version 5!
Release Notes:
Function of length, resolution and color were updated for an efficient runtime.
Release Notes:
We continue to improve this valuable indicator!
- Now each moving average has its tag switch.
- Row switches were added.
- All lengths were checked even in the "change lengths" option.
Now you save a lot of time analyzing your favorite assets. Share this tool and leave your comment or suggestion ;)

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.


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.

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