OPEN-SOURCE SCRIPT

(IK) Color Coded MA

Just a simple Moving Average indicator. Choose between SMA, EMA, and WMA, set the length and the source. There are 3 color indicators that represent whether price is above or below the moving average:
- the moving average line itself
- the background of the chart (optional)
- the 'underglow' of price action (optional - set 'underglow strength' to 0 to turn off)
You can customize the colors

I wasn't planning on publishing this, because, again, it doesn't really do anything special, but I've been using it for a little bit now in place of regular MAs, and I really dig the visual effect of the underglow, so I thought I'd share.

Feel free to steal/modify this.
colorcodedbackgroundcolorfulcolorplotingExponential Moving Average (EMA)Simple Moving Average (SMA)smaWeighted Moving Average (WMA)

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 publication is governed by House rules. You can favorite it to use it on a chart.

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