B3 HL2MA Painter ~ Extremely Smooth Average & Bar Paint

My HL2MA is a 'proprietary' formula based on the idea that I never again want to see a jagged average line. I released a version of this a long time ago, but I wanted to update it to how I have it on my charts in other platforms. Here are some notes about this moving average script:

  • The default input value is 5, and I suggest the range of use 4-6 with the rare occasion of using 3 or 7.
  • For me 5 is what I use UNLESS I AM IN A TRADE, then I might switch to 4 if I have some profits to lock, or 6 if I want to stay in for a lengthier trade.
  • This average when kept within the above parameters is the smoothest MA in my arsenal, HL2 refers to the middle of the candles which further de-noises the line.
  • The colors are green/red for good movement with the confirmed trend.
  • The colors are gray for movement against the current trend (signaling a possible mean reversion)
  • The colors blue & yellow appear when signaling possible chop or trend exhaustion.
  • Carried forward from the last time I posted this, the bias for longs and shorts is depicted as the color of the average line green or maroon, and ALERTS are based on that overall bias created the line by itself.
  • Also carried from the last post, the green and maroon clouds depict the price deviance from the line; when the cloud stretches wide it may be time to take profits and enter back in closer to the line.

Thanks again for liking and following!!!!
This share is in response to my 10,000th like on TradingView!

Favorite this one, and enjoy :-)

Skrip dilindungi
Skrip ini diterbitkan secara sumber tertutup dan anda boleh menggunakannya dengan bebas. Anda boleh menyukainya untuk menggunakannya pada carta. Anda tidak dapat melihat atau mengubah kod sumbernya.

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.

Ingin menggunakan skrip ini pada carta?