The Guppy Multiple Moving Average (GMMA) is a technical indicator that displays two sets of moving averages. The first set contains six exponential moving averages that use faster periods to monitor the trading activity of short-term traders. The second set contains six exponential moving averages that use slower periods to monitor the trading activity of long-term investors.
The GMMA Oscillator is a technical indicator developed by Leon Wilson. The oscillator line, which percentage difference between the Fast and Slow GMMA sets. The second line is the signal line and it is simply the of the oscillator line.
As with many trend following indicators, a signal occurs when the oscillator line crosses above the signal line and a signal when the oscillator line crosses below the signal line.
Select between Guppy MMA or SuperGuppy MMA calculated Oscillator.
- Option to apply smoothing to the Oscillator line (recommendation 3)
- Option to change Signal line period length
- Option to use Anchor Time frame to match the Guppy or SuperGuppy chart
- Option to show coloured / trading Zones
Crossover alerts are also generated to be picked up by the TradingView's Alarm Sub-system.
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.
a. Coloured MA R3-16 by JustUncleL
b. GMMA Oscillator v1 by JustUncleL
1. Condition when Buy and Sell alert generates – Once per Bar close
Buy Signal : When both below conditions meet
Coloured MA R3-16 by JustUncleL – Should be in Buy Range
GMMA Oscillator v1 by JustUncleL – Should be in Buy Range
Exit: Anyone indicator moving to Sell Zone
Sell Signal : When both below conditions meet
Coloured MA R3-16 by JustUncleL – Should be in Sell Range
GMMA Oscillator v1 by JustUncleL – Should be in Sell Range
Exit: Anyone indicator moving to Buy Zone
Nutshell: Merging two indicators coding and making one.
Must - Should be able to select the date range and see the backtest report with Win / Loss streaks and total P&L.