Background:
This study allows to define ranges for contraction and expansion of a defined set of MA to analyse the the momentum at those specific situations.
In general all functions used are very basic but allows the user to set alerts when a cluster of MA enters a defined range within or outside the MAX and MIN of a selected MA cluster. The predefined length of the EMAs were put together by HurstHorns within a trading learning discord group and are designed for 1M timeframe to read the momentum for scalping entries - Thanks again for sharing.
Functions:
currently the following MA are available:
- ema
- sma
- smma
- wma
- vwma
- vma
the variable moving average is based on the calculation from lazybear.
- RSI Stoch Filter
- Wavetrend OB/OS filter
Currently only alerts for contraction are enabled to not overload the study but in case expansion would be from interest this can be added quickly.
Outlook:
Additional filters were added to see if they can add value in. the decision making or by simply filtering out noise. This is still quite experimental. Please share any useful observation I should add as additional filter option to find good setups. in relation to contractions or expansions.
Next version will get Bollinger bands for 1 selectable MA from the list for additional study options.
In case you are interested in more options such as more MA types or vwap.. just let me know. for VMA I need to do more research to add useful function for laddering or things like that.
In general The script itself can be easily extended by additional functions. As this is one of my first scripts the code itself might not be optimal or there are more elegant ways to come to the same goal. However please use for study purposes only and report bugs or enhancement requests.
good luck and happy trading!
This study allows to define ranges for contraction and expansion of a defined set of MA to analyse the the momentum at those specific situations.
In general all functions used are very basic but allows the user to set alerts when a cluster of MA enters a defined range within or outside the MAX and MIN of a selected MA cluster. The predefined length of the EMAs were put together by HurstHorns within a trading learning discord group and are designed for 1M timeframe to read the momentum for scalping entries - Thanks again for sharing.
Functions:
currently the following MA are available:
- ema
- sma
- smma
- wma
- vwma
- vma
the variable moving average is based on the calculation from lazybear.
- RSI Stoch Filter
- Wavetrend OB/OS filter
Currently only alerts for contraction are enabled to not overload the study but in case expansion would be from interest this can be added quickly.
Outlook:
Additional filters were added to see if they can add value in. the decision making or by simply filtering out noise. This is still quite experimental. Please share any useful observation I should add as additional filter option to find good setups. in relation to contractions or expansions.
Next version will get Bollinger bands for 1 selectable MA from the list for additional study options.
In case you are interested in more options such as more MA types or vwap.. just let me know. for VMA I need to do more research to add useful function for laddering or things like that.
In general The script itself can be easily extended by additional functions. As this is one of my first scripts the code itself might not be optimal or there are more elegant ways to come to the same goal. However please use for study purposes only and report bugs or enhancement requests.
good luck and happy trading!
Versionsinformation:
- bugfix: corrected trend color bug
new features:
- added: HMA, THMA (tripple HMA), EHMA (exponential HMA)
- added BB for 1 MA as base
- added Keltner Channel using 2 MA as base
- added BB signals and alerts
- added expansion alerts
- reorganised cluster settings
- removed cluster option 5 and 6 due to output limitations
Notes: the BB and Keltner options should give some orientation on the chart by watching MA ribbons and their contraction and expansion zones.
Outlook:
- adding some additional MA types. Maybe changing the BB/Keltner option to enable the user to select the base from a list of MAs instead of a predefined one.
- adding an option to recalculate the length of the default 1M settings to the current Chart Timeframe. Might test the selectable timeframe option again but it seemed less accurate than simply recalculating the length
new features:
- added: HMA, THMA (tripple HMA), EHMA (exponential HMA)
- added BB for 1 MA as base
- added Keltner Channel using 2 MA as base
- added BB signals and alerts
- added expansion alerts
- reorganised cluster settings
- removed cluster option 5 and 6 due to output limitations
Notes: the BB and Keltner options should give some orientation on the chart by watching MA ribbons and their contraction and expansion zones.
Outlook:
- adding some additional MA types. Maybe changing the BB/Keltner option to enable the user to select the base from a list of MAs instead of a predefined one.
- adding an option to recalculate the length of the default 1M settings to the current Chart Timeframe. Might test the selectable timeframe option again but it seemed less accurate than simply recalculating the length
Versionsinformation:
- removed unused option
Versionsinformation:
- formating changes
Versionsinformation:
- removed unused option
Versionsinformation:
- corrected BB alerts