OPEN-SOURCE SCRIPT
Updated Moving Average Periodical Divergence
Uses the difference between two PMA (Moving Average Periodical) indicators to create an oscillator.
Useful for visualizing daily/weekly cycles, strength and potential momentum. The defaults are 2 days (fast) and 5 days (slow).
Useful for visualizing daily/weekly cycles, strength and potential momentum. The defaults are 2 days (fast) and 5 days (slow).
Release Notes
Change-list:- Now allows for targeting varying moving average types. Now SMA, WMA, and EMA are options and can be compared against each other. The fast MA can be EMA and the slow can be WMA.
- Floats are now used for values to allow for more fine tuning.
Release Notes
Corrected screenshot.Release Notes
Allow for using the fast MA as the source for the slow.Facilitates MACD style behavior.
Release Notes
Updated chart example.Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.