OPEN-SOURCE SCRIPT
Updated Displaced Moving Averages
Simple script to identify trends without the complexity or extra features of other popular indicators such as MACD or stochastic.
Release Notes
With the addition of the zero line it can be used as the MACD. It is less cluttered and preserves the original functionality of the indicator. When the faster moving average crosses over the slower moving average the signal is bullish and when it crosses under the signal is bearish. Long trades should be placed when both moving averages are over the horizontal signal line and short trades when both are below it.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.
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.
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.