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.
//@version=2 strategy("HullMA Strategy", overlay=true) n=input(title="period",type=integer,defval=16) n2ma=2*wma(close,round(n/2)) nma=wma(close,n) diff=n2ma-nma sqn=round(sqrt(n)) n2ma1=2*wma(close,round(n/2)) nma1=wma(close,n) diff1=n2ma1-nma1 sqn1=round(sqrt(n)) n1=wma(diff,sqn) n2=wma(diff1,sqn) c=n1>n2?green:red ma=plot(n1,color=c) longCondition = n1>n2 if (longCondition) strategy.entry("Long", strategy.long) shortCondition = longCondition != true if (shortCondition) strategy.entry("Short", strategy.short)
Calculate a Weighted Moving Average for period n and subtract if from step 1
Calculate a Weighted Moving Average with period sqrt(n) using the data from step 2
Basically, if the line turns green you buy, if the line turns red you sell ;)