1) You can select between 11 different types of moving averages, each MA line can be a different type.
2) Option to display coloured Candles around the Ribbon, the colouring uses the Grab candles colour scheme:
- Lime = Bull candle closed above Ribbon.
- Green = Bear candle closed above Ribbon.
- Red = Bull candle closed below Ribbon.
- DarkRed = Bear candle closed below Ribbon.
- Aqua = Bull candle closed inside Ribbon.
- Blue = Bear candle closed inside Ribbon.
3) Option to base the candles on a higher time frame ( HFT ), this performed by increasing the MA length to create equivalent lengths from the HFT . So no re-painting.
NOTE: The script will time out if the MA lengths get too long after resizing.
Added option to use standard 3-tone bar colouring, or 6-tone Grab candle Colouring
Fixed bug on bar colouring with some displays.
Changed Ribbon MAs to dotted lines.
Added more documentation in header.
- Changed MA Type input to options selection list, for easier MA type choosing.
- Change to Disable coloured bars by default, to allow already installed scripts to colour bars first.
- Corrected Anchor calculation for non-intraday charts.
- Added implied GPL copyright notice.
- Added option for both open and close outside ribbon colouring, instead of just close.
- Added Laguerre MA type.
- Some tidy up.
Added Alert Buy/Sell Entry and exits option based on candle colour:
- When candle changes to green or lime, then Buy signal
- When candle changes to red or darkred, then Sell signal.
- When candle changes to different color to Buy/Sell then exit signal.
Added associated alarms to the TradingView's Alarm Subsystem, for the above Alerts.
- Added optional Filter for Alerts to only allow signals in direction of main trend, ie Fast MA Directional Slope colour must be same as Ribbon colour.
- Change Anchor calculation to be based on Minutes for trading period Daily (1440 = 1 Day), Weekly (7200 = 5Days), and Monthly (30240 = 21 Days). This change makes the Anchor more consistent across the Intraday/extraDaily time frame crossover.
- Added optional central medium moving average, however, it does not have an active role on the alerts nor candle colouring.
- Changed ZeroLag EMA to an alternative formula to make it different from DEMA.
- Remove some redundant code in the Anchor calc.
- Added optional to show and alert MA Ribbon Cross Overs. Buy signal on first Bullish candle and Sell on first Bearish candle.
- Renamed some variables to make code easier to read.
- Added LINREG option to the moving average type list.
- Minor Bug fixes.
- Added option to disable Ribbon completely when changing Chart TF to a higher time frame than specified Anchor TF.