pietherrieck

MultiMADirection [pietherrieck]

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this indicator looks for the direction of multiple moving averages (pointing up/down). if all show the same signal it is colored red (sell) or green (buy). if there are different signals it will turn gray (neutral). it should be used on the 4h or 1d timeframe. use the atr-value (small number next to the indicator name (MMAD)) as stop-loss. for example on eur/usd             0.0144 means a 144 pip stop-loss. if the color changes close the postition.
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study("MultiMADirection [pietherrieck]", shorttitle="MMAD")
c=iff(ema(close,233)>ema(close[1],233) and ema(close,144)>ema(close[1],144) and ema(close,89)>ema(close[1],89) and ema(close,55)>ema(close[1],55) and ema(close,34)>ema(close[1],34) and ema(close,21)>ema(close[1],21), green, 
  iff(ema(close,233)<ema(close[1],233) and ema(close,144)<ema(close[1],144) and ema(close,89)<ema(close[1],89) and ema(close,55)<ema(close[1],55) and ema(close,34)<ema(close[1],34) and ema(close,21)<ema(close[1],21), red, gray))
plot(atr(14), style=columns, color=c)

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Hugodp PRO
2 years ago
Hi

Want to use indicator but unable to create the actual LUA indicator for this to import into marketscope 2 ...
Reply
pietherrieck Hugodp
2 years ago
i can't help you with marketscope. this is pine-script (only for tradingview.com). sorry.
Reply
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