Date/Time: Tue, 23 Oct 2018 17:30:48 +0000
Post From: Offering To The Community: Moving Average Ribbon
|bjohnson777 (Brett Johnson) - Posts: 239|
I've been programming some indicators from my base tool kit and am offering them to the community. I request they be added into the main SC distro once checked over.
From the "Display Study Documentation" button:
Moving Average Ribbon. A moving average ribbon is a set of moving average lines of differing values following a single source. That source is usually price but non-oscillating indicators can also have a ribbon attached to them. It is recommended to give the ribbon a lot of screen height to see the movement. Institutional traders do use moving average lines as seen by price lines bending, pausing, and reversing at the standard levels. The Primary Line is usually a small EMA number to closely track the source. If it's not needed, it can be set to another moving average number and type or set to disable. The ribbon lines are usually Simple Moving Averages since that is what the big institutions use. Both moving average types can be changed.
The colors chosen are based on light frequency from slow to fast (think of a prism or rainbow). This method makes remembering the values much easier. Industry standard values are red=200, orange=100, yellow=50, green=35, and cyan=20. These can all be changed in the configuration menu.
This simple study offers the convenience of setting up 6 MA lines quickly in one place and making sure they are all scaled properly together on the same graph. It also simplifies the setup for automation.
Minor update 2016-10-15. No major function changes.
Regular compiles moved to "Brett Johnson's Standard Tool Kit" DLL.
Date Time Of Last Edit: 2016-10-15 06:53:31
MovingAverageRibbon.cpp - Attached On 2016-10-15 06:53:19 UTC - Size: 8.64 KB - 58 views
MovingAverageRibbon.dll - Attached On 2016-10-15 06:53:25 UTC - Size: 77.5 KB - 68 views