Moving Average Channel

This indicator will use a moving average to create the channel around the price. It has some settings

Display Settings
Here it's possible to select what the indicator will display, from the middle line to the 3rd band level.
Reversion points will appear when the price cross out the selected band
Swing back option, when active, will make the indicator display the points when the price cross in the selected band

Moving Averages Settings
Here it's possible to select the moving averages settings that will be the basis for the channel calculation.
There are ten moving averages types t be selected, each one will give different entry points

Level Settings
Each level will apply the value on the moving average to get the level bands. All default numbers are from the Fibonacci sequence
When the extra filter is market, the indicator will display the crosses from the price and the selected band and also check if the candle closes in or out the bands.
That filter will check for a possible rejection of the price, providing more accurate movement indications, but fewer signals

Risk Management
In this part, it's possible to display stop loss and target profit levels based on the ATR indicator.
It's possible to select the multiplicator of the ATR to be applied on those levels
Release Notes: updated to pine script 5

Skript med en öppen källkod

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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