OPEN-SOURCE SCRIPT
RedK_Momentum-based Step MA (MoStep_MA)
Summary
==========
This script plots a "momentum based" stepping Moving Average of various types - the idea is to visualize price moves in levels (or steps) to reduce "chart noise" - avoid getting caught in sideway moves - and enable better trade entry and exit decision.
How does the MoStep_MA Work:
=============================
- we first choose a "base MA" of our preferred type: WMA, EMA, SMA and Hull MA are available - this base MA will be visible in light gray on the chart and can be completely hidden (although it is useful - see chart below)
- The steps are then created when a "momentum change" - expressed by a "relatively significant price move" - has been detected - either up or down
A "Significant price move" is defined as a price move that is relatively large compared to the "recent" average (absolute) price moves within a certain period
The "strength average" period can be adjusted - in terms of how the average is calculated (WMA, EMA, SMA), the number of bars (length) taken into consideration, as well as to include a "significance factor" of the price move relative to that average
using a significance factor of 1.5 is like saying: i want a new step only when the price move is 1.5 times the average price moves within the last (x) bars
the move has to be in the direction of the underlying MA trend - this is an additional condition i added, when i found that some moves will be significant but in the opposite direction and will cause a new step to be created - adding unnecessary "noise"
Default settings and other tweaks
===============================
By default, we use WMA for both the base MA and for calculating the average price change - other moving average types are available -
the significance factor is set to 1 by default.
feel free to experiment with other values and settings.
here's a chart with some additional notes - the significance factor here is set to 1.5 times the average price move.
- code is commented with further notes
- this indicator should not be used in isolation - as usual, it should be supported by other trend and momentum indicators to get proper confirmation of signals
==========
This script plots a "momentum based" stepping Moving Average of various types - the idea is to visualize price moves in levels (or steps) to reduce "chart noise" - avoid getting caught in sideway moves - and enable better trade entry and exit decision.
How does the MoStep_MA Work:
=============================
- we first choose a "base MA" of our preferred type: WMA, EMA, SMA and Hull MA are available - this base MA will be visible in light gray on the chart and can be completely hidden (although it is useful - see chart below)
- The steps are then created when a "momentum change" - expressed by a "relatively significant price move" - has been detected - either up or down
A "Significant price move" is defined as a price move that is relatively large compared to the "recent" average (absolute) price moves within a certain period
The "strength average" period can be adjusted - in terms of how the average is calculated (WMA, EMA, SMA), the number of bars (length) taken into consideration, as well as to include a "significance factor" of the price move relative to that average
using a significance factor of 1.5 is like saying: i want a new step only when the price move is 1.5 times the average price moves within the last (x) bars
the move has to be in the direction of the underlying MA trend - this is an additional condition i added, when i found that some moves will be significant but in the opposite direction and will cause a new step to be created - adding unnecessary "noise"
Default settings and other tweaks
===============================
By default, we use WMA for both the base MA and for calculating the average price change - other moving average types are available -
the significance factor is set to 1 by default.
feel free to experiment with other values and settings.
here's a chart with some additional notes - the significance factor here is set to 1.5 times the average price move.
- code is commented with further notes
- this indicator should not be used in isolation - as usual, it should be supported by other trend and momentum indicators to get proper confirmation of signals
オープンソーススクリプト
TradingViewの精神に則り、このスクリプトの作者は、トレーダーが理解し検証できるようにオープンソースで公開しています。作者に敬意を表します！無料で使用することができますが、このコードを投稿で再利用するには、ハウスルールに準拠する必要があります。 お気に入りに登録してチャート上でご利用頂けます。
チャートでこのスクリプトを利用したいですか？
免責事項
これらの情報および投稿は、TradingViewが提供または保証する金融、投資、取引、またはその他の種類のアドバイスや推奨を意図したものではなく、またそのようなものでもありません。詳しくは利用規約をご覧ください。