HPotter

Bill Williams Averages. 3Lines Strategy

This indicator calculates 3 Moving Averages for default values of
13, 8 and 5 days, with displacement 8, 5 and 3 days: Median Price (High+Low/2).
The most popular method of interpreting a moving average is to compare
the relationship between a moving average of the security's price with
the security's price itself (or between several moving averages).
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.

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Comments

how do you change the colours of bill Williams lines
Reply
HPotter Karlmunda
@Karlmunda, in the code:
plot(xLSma, color=blue, title="MA")
plot(xMSma, color=red, title="EMA")
plot(xSSma, color=green, title="EMA")
Reply
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