Ultimate Smoothed MA
When using moving averages there is usually a trade-off between lag and smoothness. Multiple formulas have been devised to reduce lag while maintaining smoothness, and each one has its trade-offs.
This script, tweaked from Chris Moody's extremely popular "Ultimate Moving Average-Multi-TimeFrame-7 MA types" is another attempt.
Also displayed in chart image is the companion script, "Ultimate Smoothed MA Turning Points" to give more definitive visuals when tuning. That script can also be readily adapted for alertcondition.
This script, tweaked from Chris Moody's extremely popular "Ultimate Moving Average-Multi-TimeFrame-7 MA types" is another attempt.
- Added least-squares moving average (LSMA)
- Pick something responsive as the first MA, then smooth out the kinks with a second MA on the first. Find the perfect balance between both for your needs.
- Play with "Minimum Slope Magnitude" and "Lookback length" for additional control over sensitivity -- only call trend reversals when rate of change is strong enough. Intermediate or "flattish" regions are grayed out. These options are available for both primary and secondary MA.
Also displayed in chart image is the companion script, "Ultimate Smoothed MA Turning Points" to give more definitive visuals when tuning. That script can also be readily adapted for alertcondition.