Madrid Moving Average Ribbon

This plots a moving average ribbon, either exponential or standard. It provides an easy and fast way to determine the trend direction and possible reversals.
Lime : Uptrend. Long trading
Maroon : Reentry (buy the dip) or downtrend reversal warning
Red : Downtrend. Short trading
Green : Short Reentry (sell the peak) or uptrend reversal warning

To best determine if this is a reentry point or a trend reversal the MMARB (Madrid Moving Average Ribbon Bar) study is used. This is the bar located at the bottom. This bar signals when a current trend reentry is found (partially filled with opposite dark color) or when a trend reversal is ahead (completely filled with opposite dark color).

This study requires no parameters, and it can be used on any time frame.

I hope this effort can help you in your trading.
リリースノート: Madrid MA Ribbon is upgraded from its original Pinescript v1 code to a compliant Pinescript v4 code.




How do I get the bottom bar to appear MMARB?
+83 返信
yuzhenlong0001 LWaynetrading
+32 返信
RightHandBarberFX LWaynetrading
+12 返信
i need this to download
+65 返信
Good one buddy...
Little prob
1. Can we use it with renko?
2. The bottom indicator is missing...
+55 返信
SumitJain SumitJain
problem 2 solved...waiting for 1, any expert comments?
+15 返信
ShayanJZ SumitJain
@SumitJain, how did you solve that problem can you please help me
+26 返信
Bottom bar is not appear? how can i install it.
+31 返信
wow, this is fantastic. Thanks Madrid. I'm definitely having a closer look at this. Has anyone done any backtesting on this? What's the optimal use (pairs? volatility? timeframe?). I'd be curious to see how effective this is once implemented in trading.
+18 返信