EXPERIMENTAL: Request for JR, test version, added extra lines to track high/lows for sl level management.
study(title="[RS]JR Moving Average System V0", shorttitle="[RS]JR.MAS.V0", overlay=true) ma0 = sma(hl2, input(1)) tp = input(8) ma1 = wma(open, tp) ma2 = ema(open, tp) plot(ma0, color=black) plot(ma1, color=gray) plot(ma2, color=silver) condition = ma0 >= ma1 and ma1 >= ma2 ? (close >= open ? lime : green) : ma0 <= ma1 and ma0 >= ma2 ? (close >= open ? silver : gray) : ma0 <= ma1 and ma1 <= ma2 ? (close >= open ? red : maroon) : (close >= open ? silver : gray) barcolor(condition) // ||--- Crossovers buyx1 = cross(ma0,ma1) and ma0 >= ma0[1] ? true : false sellx1 = cross(ma0,ma1) and ma0 <= ma0[1] ? true : false plotshape(buyx1, style=shape.cross, color=green, location=location.belowbar) plotshape(sellx1, style=shape.cross, color=maroon, location=location.abovebar) // ||--- SL lines sltop = highest(max(max(high,ma0),max(ma1,ma2)), tp) slbot = lowest(min(min(low,ma0),min(ma1,ma2)), tp) plot(sltop, color=silver, style=circles) plot(slbot, color=silver, style=circles)
Example with US 20+ year bonds TLT, TBT and TMF, TTT.
TLT Bullish (green arrow - gray candle)
TBT Bearish (red arrow) - gray candle)
TMF 3x Bullish (red candles)
TTT 3x Bearish (green candles)
TLT would be the confirming signal caller to change gears. TLT, TBT or leverage TMF, TTT
Noticed a big difference with 1MA vs 3 EMA - 3 WMA
Might need to make a 8 vs 3 confirming.
3 gives us earlier reads however, 8 keeps us in the trends longer. So if 8 is green and 3 gives arrow signal , then still green (dark) candle.
8 vs 2 confirming
2 is giving us earlier reads however, 8 keeps us in trends longer. So if 8 is green and 2 gives red arrow signal , then we should still see green (dark) candle. If 8 is red and 2 gives green arrow signal , then we should still see red (light red) candle.
So we should also insert 1 MA vs 2 EMA / 2 WMA in version 2.0
Green and red candles however dismiss 1 MA vs 2 EMA / 2 WMA arrow signals and gray candles