stvch

Simple Moving Average Double Helix

This one is a mix of colour-coded moving averages and Ichimoku. It features two pairs of SMAs--default values of 9/20 and 50/200. Each SMA will be green when it rises and red when it falls. The spaces between each pair will fill with green or red depending on which line is on top. 9 over 20 or 50 over 200 makes a green cloud; if 9 or 50 falls below, the cloud will switch to green.

There's also the Ichimoku lagging span and a 35-period SMA (grey) that can be used as a trailing stop loss guideline.

Ideal long setup:
  • 9, 20, 50, and 200 SMA are all green
  • both clouds are green
  • lagging span is above historic price action

Ideal short setup:
  • 9, 20, 50, and 200 SMA are all red
  • both clouds are red
  • lagging span is below historic price action
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.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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