MAs are a great tool to measure the market's momentum. I created this indicator to graphically depict bullish and banishment movements with the moving averages.
Using the 50, 100, & 200 day MA in conjunction with the RSI we are able to find great swing setups. This is used best on the 30min & up to the daily chart.
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*Cleaned up code
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V1.0 Release Notes
Added 9-day moving average with dynamic color based on 9-day RSI over/oversold levels
Added dynamic color changing to all moving averages based on the directional movement
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Added conditional formatting to the colors on the 9-day moving average. The greener the color, the more overbought. The darker the red, the more oversold. I will tweak the colors of the cloud and line itself in a future update.
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Exciting new update :)
-Added improved accuracy for the strength in the trend by calculating different RSI lengths -Added bar overlays to help show the strength of the trend -Improved colors on the 9 day MA overlay
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Switched MAs to EMAs. After doing extensive backtesting I think EMAs are much more accurate for the purpose of this indicator