Customisable Moving Averages x5

This is a Moving Averages pack with 5 lines.
This indicator is different from others because with it you can select the MA type used in calculations for each line.

Available MA types are (currently):
  • SMA
  • EMA
  • WMA
  • VWMA
  • RMA
  • HMA

Also configurable (for each line) are data source (open, close, hlc3, etc) and period.
Release Notes:
  • Added Double Exponential Moving Average (DEMA)
  • Reordered input options
Release Notes: Fixed my demo graph (it was showing some random things I'm testing with :D)
Release Notes: Added 2 new moving averages:
  • Triple Exponential Moving Average (TEMA)
  • Zero Lag Exponential Moving Average (ZLEMA)
Release Notes: Updates:
  • Reorganised inputs with the new (march 12) Pine updates
  • Added Symmetrically Weighted Moving Average (SWMA) - it does use period in the calculation, so if you select this in a certain MA line, any period set will be ignored (in that specific MA line of course)
  • Removed VWMA (see below why)
  • Added option to make moving averages volume-weighted

The Volume-Weighted Moving Average is calculated with the following (example) formula:

sma(close * volume, 20) / sma(volume, 20)

  • "close" is the data source, default is close but it can be set as open, high, HL2 (which means (high + low)/2), HLC3 (which means (high + low + close)/3), etc.
  • 20 is the period example, you can type in any amount of candlesticks

So, by the same principle, it's possible to make any other moving average volume-weighted.
Then VWMA was removed because it became redundant (it is exactly like SMA with volume-weighted enabled).
Keep in mind: this makes the moving average lines more "rough" (it becomes much less smoothed) if enabled.
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.

Want to use this script on a chart?


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