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ChartPrime
Jun 5, 2023 1:44 PM

Moving Average Trend Sniper [ChartPrime] 

Bitcoin / U.S. dollarBitstamp

Description

Today we introducing the Moving Average Trend Sniper (MATS), a unique and powerful multi faceted tool. This moving average is designed to adapt to the ever-changing market conditions. MATS provides the ideal solution for traders looking to capitalize on market trends while accurately identifying support and resistance levels.


Why MATS?

MATS was developed with the trader in mind, focusing on the key factors crucial for a successful trading strategy - trend following, support, and resistance. Its unique moving average calculation not only accounts for market volatility and momentum but also provides a stable yet adaptable foundation for your trading decisions.

MATS employs a range of mathematical techniques to provide a precise and adaptive moving average, offering traders a more effective tool for analyzing market trends and identifying support and resistance levels. One of the primary distinctions of MATS is its use of delta, the change in market conditions, to update the moving average based on the trend's strength. This delta-based updating allows the moving average to adapt to market fluctuations and helps traders make more informed decisions when entering or exiting positions. MATS also focuses on the highs in a downtrend and the lows in an uptrend to provide more reliable support and resistance. By taking these crucial market points into consideration, the moving average delivers a comprehensive and accurate insight into the market's behavior and allows traders to make more precise predictions.

MATS leverages trigonometry to determine the trend angle for the moving average. By calculating this angle, MATS can efficiently pick the correct source (either the high or the low) to provide the best support and resistance analysis. This innovative use of trigonometry ensures that the moving average is better suited to the current market conditions and provides traders with a dynamic yet stable tool to support their trading decisions.

Settings:

  • Length: The length input for MATS plays a crucial role in determining how responsive the moving average will be to changes in market conditions. A shorter length setting results in a more reactive moving average that closely follows price movements, whereas a longer length setting generates a smoother, less volatile average. By adjusting the length setting, traders can fine-tune the sensitivity of MATS to align with their specific trading strategies and needs.

  • Glow: MATS offers a customizable and visually engaging display that helps traders effectively identify market trends. The "glow" effect surrounding support and resistance levels, available as an optional feature, enables users to assess these crucial areas more easily.




Example use cases:

In the screenshot below you can see the MATS acting as both a classical support and resistance while the glow and coloring is helped to provide a more classical trend following visualization to a trader. This duel functionality can help in re-entering during market retracements.

Comments
nicolasmatias96
Can you create an alert when the MATS changes color?
peacefulLizard50262
@nicolasmatias96, it's based on the cross so you could technically add an alert to it for that condition by clicking add alert. :)
Indranil_Bar
Thank you bro for this masterpiece. This is a great boon for the traders. Thank you once again to you and to your great team for this great service for the betterment of the mankind and society. Love you.
Black-Hawk2024
very nice script but a bit heavy on my cpu
shivanjalikn
very nice script bro.tx.
Bearishness
wow, indicator best ever!
dnxl
This is vwap but coloured.
oxuskhan
Hello. I like the indicator very much. Health to your work. I would have a request. Can you make 20 scan lists for this indicator?
abdadqq
Is this indicator now paid? Because I can no longer use the free version.
Black-Hawk2024
Can you please add source input in settings? so that we can change any source we want like high ,low or external
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