This study is the companion of the MMAR, displayed here in this publication. This displays the same information as MMAR, but in a linear format. This measures the possibilities of a trend reversal. If the bar fills over 50% of the opposite color from bottom to top then chances are there will be a trend reversal. Otherwise it is just a reentry point.
This study doesn't require but one parameter, and the default is very good. Define if you want to use the standard or the exponential moving average. It is simple, easy to interpret and doesn't require much space on the screen.
It uses only four standard colors
1. Red : A downtrend in progress
2. Green: A short reentry or a trend reversal warning
3. Lime : An uptrend in progress
4. Maroon: A long reentry or a trend reversal warning
This study doesn't require but one parameter, and the default is very good. Define if you want to use the standard or the exponential moving average. It is simple, easy to interpret and doesn't require much space on the screen.
It uses only four standard colors
1. Red : A downtrend in progress
2. Green: A short reentry or a trend reversal warning
3. Lime : An uptrend in progress
4. Maroon: A long reentry or a trend reversal warning
//
// Madrid : 26/Feb/2015 21:41: Moving Average Ribbon Bar: 1.0
// MMARB
// http://madridjourneyonws.blogspot.com/
//
// This is based on the Madrid Moving Average Ribbon study,
// it displays the output in a bar format to better identify
// entry points, up/down trends and reversals
//
study(title="Madrid MA Ribbon Bar", shorttitle="MMARB", precision=0)
exponential = input(true, title="Exponential MA")
src = close
ma05 = exponential ? ema(src, 05) : sma(src, 05)
ma10 = exponential ? ema(src, 10) : sma(src, 10)
ma15 = exponential ? ema(src, 15) : sma(src, 15)
ma20 = exponential ? ema(src, 20) : sma(src, 20)
ma25 = exponential ? ema(src, 25) : sma(src, 25)
ma30 = exponential ? ema(src, 30) : sma(src, 30)
ma35 = exponential ? ema(src, 35) : sma(src, 35)
ma40 = exponential ? ema(src, 40) : sma(src, 40)
ma45 = exponential ? ema(src, 45) : sma(src, 45)
ma50 = exponential ? ema(src, 50) : sma(src, 50)
ma55 = exponential ? ema(src, 55) : sma(src, 55)
ma60 = exponential ? ema(src, 60) : sma(src, 60)
ma65 = exponential ? ema(src, 65) : sma(src, 65)
ma70 = exponential ? ema(src, 70) : sma(src, 70)
ma75 = exponential ? ema(src, 75) : sma(src, 75)
ma80 = exponential ? ema(src, 80) : sma(src, 80)
ma85 = exponential ? ema(src, 85) : sma(src, 85)
ma90 = exponential ? ema(src, 90) : sma(src, 90)
ma95 = exponential ? ema(src, 95) : sma(src, 95)
ma100 = exponential ? ema(src, 100) : sma(src, 100)
leadMAColor = change(ma05)>=0 and ma05>ma100 ? lime
: change(ma05)<0 and ma05>ma100 ? maroon
: change(ma05)<=0 and ma05<ma100 ? red
: change(ma05)>=0 and ma05<ma100 ? green
: gray
maColor(ma, maRef) =>
change(ma)>=0 and ma05>maRef ? lime
: change(ma)<0 and ma05>maRef ? maroon
: change(ma)<=0 and ma05<maRef ? red
: change(ma)>=0 and ma05<maRef ? green
: gray
plot( 5, color=leadMAColor, style=line, title="MMA05", linewidth=2)
plot( 10, color=maColor(ma10,ma100), style=line, title="MMA10", linewidth=2)
plot( 15, color=maColor(ma15,ma100), style=line, title="MMA15", linewidth=2)
plot( 20, color=maColor(ma20,ma100), style=line, title="MMA20", linewidth=2)
plot( 25, color=maColor(ma25,ma100), style=line, title="MMA25", linewidth=2)
plot( 30, color=maColor(ma30,ma100), style=line, title="MMA30", linewidth=2)
plot( 35, color=maColor(ma35,ma100), style=line, title="MMA35", linewidth=2)
plot( 40, color=maColor(ma40,ma100), style=line, title="MMA40", linewidth=2)
plot( 45, color=maColor(ma45,ma100), style=line, title="MMA45", linewidth=2)
plot( 50, color=maColor(ma50,ma100), style=line, title="MMA50", linewidth=2)
plot( 55, color=maColor(ma55,ma100), style=line, title="MMA55", linewidth=2)
plot( 60, color=maColor(ma60,ma100), style=line, title="MMA60", linewidth=2)
plot( 65, color=maColor(ma65,ma100), style=line, title="MMA65", linewidth=2)
plot( 70, color=maColor(ma70,ma100), style=line, title="MMA70", linewidth=2)
plot( 75, color=maColor(ma75,ma100), style=line, title="MMA75", linewidth=2)
plot( 80, color=maColor(ma80,ma100), style=line, title="MMA80", linewidth=2)
plot( 85, color=maColor(ma85,ma100), style=line, title="MMA85", linewidth=2)
plot( 90, color=maColor(ma90,ma100), style=line, title="MMA90", linewidth=2)
hline(50, color=black, linewidth=1)
hline(25, color=red, linewidth=1)
hline(75, color=lime, linewidth=1)