Generalized Step Moving Average w/ Pips Filter [Loxx]

Generalized Step Moving Average w/ Pips Filter is a stepping function on source input to derive a moving average. This general form the stepping can also be applied to any other input such as EMA, SMA, HMA, WMA, etc.. This moving average employ a filtering system based on the following:

Core filter, both min and max value: pips * (multiplier) or the (average of momentum) * (multiplier).
Post processing filter: pips * (multiplier)

These filtering options require trend to shift by the above values before changing direction thereby reducing noise and yielding a better defined trend.

Things to note
  • This indicator requires fine tuning to make it work on all tickers. If you place this on a chart and it shows all green or red candles, then you must adjust the indicator to coincide with the pip movement of that ticker.
  • This indicator can be used on any timeframe.

  • Bar coloring
  • Signals
  • Alerts
  • Loxx's Expanded Source Types

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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.


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