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MESA Adaptive Moving Average

Intro
One of Ehlers most well-known indicators! I've seen many variations of this on TradingView, however, none seem to be true to the original released by Ehlers himself.
I've taken it upon myself to simply translate the MAMA into Pinescript, instead of re-writing like some others have done.

You can use it as a very effective & adaptive moving average with other signals or
as a standalone signal.

In the case that you're going to use it for signals and not simple technical trading (non-quantitative),
I've also added a threshold parameter to filter out weak signals.

My MAMA indicator is different from others in very simple ways - I don't use the nz () command, which sets all "Not a Number" values to 0. In others' scripts, you immediately load the indicator with several 0 values,
causing a slight lag in future calculations since this code is recursive (refers to previous values it generated).

In my version, I simply wait until the script has access to all the bar data it needs, instead of instantly performing calculations and
setting erroneous values to 0. In this case, we start with the correct values (or closer to correct).

If you want to compare this indicator the current most popular MAMA by LazyBear, you'll notice it often gives buy and sell crosses one bar earlier than theirs.

Setting Parameters
  • Source - the data series to perform calculations on. (Initially, Ehlers himself favored hl/2, but conceded that there isn't empirical benefit over close.)
  • Fast Limit - controls how quickly the MAMA will "ratchet up" fast price action. (Higher values are faster)
  • Slow Limit - controls how closely the FAMA will follow the MAMA . (Again, higher is faster. You typically want the FAMA to be slower though.)
  • Crossover Threshold - simple error thresholding to limit the number of weak trade signals. (Lower means lower tolerance)
  • Show Crosses? - show/hide the arrows at moving average crosses
Feb 17
Release Notes: Forgot to convert one Trig operation to Radians
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Probably one of the most complex user defined single functions ever! Great work man!
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Thanks for sharing!
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