MTF MAs and Crosses Nexus [DarkWaveAlgo]

10 Jun 2023

🧾 Description:
A nexus is a connection, link, or neuronal junction where signals and information are transmitted between different elements.

The MTF MAs and Crosses Nexus indicator serves as a nexus between MTF Moving Averages by facilitating the visualization and interaction of up to eight multi-timeframe moving averages, each with its own customizable timeframe, period, cross-over and cross-under alerts and plot markers, moving average calculation type, and price source.

It acts as a utility/control center that brings together multiple MTF moving averages (MTF MAs) and allows you to visualize the interactions between them with exceptional ease-of-use and customizability, helping to provide you with valuable insights into potential trend reversals, momentum shifts, and trading opportunities.

💡 Originality and Usefulness:
While there are other multi-timeframe moving average indicators available, MTF MAs and Crosses Nexus' customizable alert and signal settings offer intra-indicator MTF moving average cross markers and alerts not seen in other MTF MA indicators, allowing you to visualize the cross-over and cross-under relationships between the indicator's MAs with an 'all-in-one' experience. We also believe it stands above the rest with its sheer quantity and quality of settings, features, and usability.

✔️ Re-Published to Avoid Misleading Values
This script has been re-published to ensure that it does not use `request.security()` calls using lookahead_on to access future data when referencing moving averages from other timeframes. This decreases the likelihood that the indicator will provide deceiving values. This change has been made in accordance with the PineScript documentation: "Using barmerge.lookahead_on at timeframes higher than the chart's without offsetting the `expression` argument like in `close[1]` will introduce future leak in scripts, as the function will then return the `close` price before it is actually known in the current context" and the Publishing Rule: "Do not use `request.security()` calls using lookahead to access future data".

💠 Features:

• 8 toggleable MTF Moving Averages with customizable timeframes, periods, moving average calculation types, and price sources
  
• Customizable cross-over and cross-under alert and chart signal options for each MTF MA (toggleable cross alerts and signals for crosses between intra-indicator MAs and bar price values)
  
• Aesthetic and flexible coloring and color theme styling options
  
• End-of chart labels and options for ease-of-use and legibility
  

⚙️ Settings:

• Use a Color Theme: When this setting is enabled, all manual 'Bullish and Bearish Colors' are overridden. All plots will use the colors from your selected Color Theme - excepting those plots set to use the 'Single Color' coloring method.
  
• Color Theme: When 'Use a Color Theme' is enabled, this setting allows you to select the color theme you wish to use.
  
• Hide MAs on Timeframes Lower Than the Chart: When this setting is enabled, any MTF MA with a timeframe smaller than that of the chart the indicator is applied to will be hidden from view.
  
• Enable: Show/hide a specific MTF MA.
  
• Timeframe: Set the timeframe for a specific MTF MA.
  
• Period: Set the lookback period for a specific MTF MA.
  
• Type: Set the calculation type for a specific MTF MA. Options include: Exponential, Simple, Weighted, Volume-Weighted, and Hull.
  
• Source Price: Set the source value used for a specific MTF MA's calculation.
  
• Enable Cross Over Signals & Alerts: When enabled, cross-over chart signals (markers) and alerts are enabled for when this specific MTF MA crosses above its respective 'Cross Over Cross Source'.
  
• Enable Cross Under Signals & Alerts: When enabled, cross-under chart signals (markers) and alerts are enabled for when this specific MTF MA crosses below its respective 'Cross Under Cross Source'.
  
• Cross Source: Set the target plot which this specific MTF MA must cross (for either a cross-over or cross-under event) to trigger a chart signal and alert.
  
• Marker Position: Set the position where this specific MTF MA's cross chart signal should appear. Options include: Above Bar, Below Bar, and On MA Line.
  
• Coloring Method: Set the coloring method for this specific MA. The coloring method defines how the MA should be dynamically colored. Options include: Single Color, Increasing/Decreasing, and Over/Under Price.
  
• Bullish Color: When 'Use a Color Theme' is disabled, this will set the 'bullish color' for this specific MTF MA.
  
• Bearish Color: When 'Use a Color Theme' is disabled, this will set the 'bearish color' for this specific MTF MA.
  
• Single Color: When the 'Coloring Method' is set to Single Color for this specific MA, this color option will set the MA's color.
  
• Enable Label: When enabled, a label will show at the end of the chart displaying the timeframe, period, MA type, and current price value of this specific MTF MA.
  
• Size: Sets the font size of this specific MTF MA's label.
  
• Label Offset (in Bars): Sets the distance from the latest bar, in bars, at which this specific MTF MA's label is displayed.
  
• Show Label Line: When enabled, this specific MTF MA's label will be accommodated by a dashed line connecting it to its plot.
  

📈 Chart:
The chart shown in this original publication displays the 15 minute chart on BTCUSDT. Displayed on the chart are 4 MTF MAs: the 15m 20 WMA, 30m 100 EMA, 1h 11 EMA, and 1D 7 VWMA - offering an exemplary view of how you can use these MTF MAs and crosses to your advantage in gauging trend relationships across multiple timeframes.

10 Jun 2023

Nota Keluaran

Indicator title changed from 'MTF MAs and Crossovers Nexus' to 'MTF MAs and Crosses Nexus' within the indicator's script to better reflect its functionality.

11 Jun 2023

Nota Keluaran

Label sizing fix for the 'Small' option.