This moving average uses a gradient function which calculates the number of advances/declines of the moving average to change the intensity of the colors, meaning a longer trend in either direction will show a stronger color. You can choose 3 colors to build the gradient: a bullish, bearish & neutral/transition color. The number of steps chosen will change the speed of color change, with a lower number of steps meaning a faster transition and viceversa.
Furthermore, you can choose between many different types of moving averages: -SMA (Simple Moving Average) -EMA (Exponential Moving Average) -RMA (Rolling Moving Average) -WMA (Weighted Moving Average) -HMA (Hull Moving Average) -VWMA (Volume Weighted Moving Average) -TMA (Triangular Moving Average)
Appreciate this one, I'm a big fan of the gradient function and I like the method you use here to had additional gradations (neutral) ... will be useful if I want a gradient with 3 4, 5 etc or more colors..
raychartss
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Best one ive seen GJ and Thanks
gandolfi
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thanks for your script.Is it possible to modulate the colors to represent the strength of the growth or decay of the SMA? - The stronger the growth, the brighter the green - If the SMA flattens, the neutral color becomes more and more present - The stronger the decay, the brighter the red ?
thanks
slowcoconut
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@gandolfi, if you think you can tackle this, look up smooth first differentiator script and take the derivative of the MA you prefer, then apply PineCoders Pro advance/decline gradient to the resulting graph. You can also overlay on the MA itself... I may publish something like this eventually but yep in case you need it quick, that'd be a good way to get it done!
FractalTrade_
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@gandolfi, Hi yes good idea, maybe could do that, it would imply having to add and extra 2 colors to the menu, so you would have neutral, weak bull, strong bull, weak bear and strong bear color.
gandolfi
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@FractalTrade15, thanks. color or % number help to imaginate the slope.
VwapWickHunter125x
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Hey Fractal Trade. I really like the vwap std deviaitons. Thanks.