This is an experimental study that takes a moving average of price, then offsets the average by up to 11 consecutive Fibonacci numbers from 1 to 144. Choose between Kaufman's Adaptive Moving Average, Hull Moving Average, Fractal Adaptive Moving Average, Geometric Moving Average, or Exponential Moving Average.
リリースノート
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Updates: Expanded the available moving average types. The available moving averages now in this script are: -Exponential Moving Average -Simple Moving Average -Smoothed Moving Average -Weighted Moving Average -Volume Weighted Moving Average -Arnaud Legoux Moving Average -Hull Moving Average -Least Squares Moving Average -Coefficient of Variation Weighted Moving Average -Fractal Adaptive Moving Average -Kaufman's Adaptive Moving Average
Bar colors are now included. The color scheme highlights coherent and divergent price activity.
リリースノート
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Updates:
Cleaned up the code. Removed unnecessary variables for enhanced performance.
Added Double Exponential Moving Average to the available moving average types.
Moving average type selection is now an easy to use dropdown menu.
Added volume options to the VWMA calculation. You can now choose between the default or tick volume as the volume type.
Really like this indicator, to me it is similar in nature to Ichimoku trading, i.e. when price is within the MA's it is in the cloud. Breakouts really seem to take off nicely (only looked at it with Crypto pairs though so far).
Do you trade using this indicator yourself? If so, do you use particular settings or default? Do you use complimentary indicators with it? I also like your Trend Intensity Index, and am playing with both of these together. Getting some nice signals too! Thanks for sharing your hard work with us.
DonovanWall
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@kirklea, I'm glad you're enjoying my work! My apologies on the late reply. I just made an update to this script and noticed your comment.
I did trade with this indicator using the default settings and found great results with it. In nature, it is indeed similar to Ichimoku trading. Ichimoku is actually what initially inspired this study.
As far as complementary indicators go, I personally found the Dual Volume Divergence Index goes rather nicely with it as a confirmation tool, however mixing and matching indicators really comes down to subjective preference.
SeanBronato
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This is absolutely fascinating work. I’m looking on the chart of bitcoin and it appears that possibly this tool is implying time. I say that only because it aligns with some other indicators on the day chart. It would appear a convergence or crossover around March which I would imagine would indicate a momentous change in trend. MY question is does this somehow take time into account? In your description I don’t see time mentioned which is why I’m trying to to figure out if it’s coincidence or meaningful! Thanks in advance!
DonovanWall
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@SeanBronato, Ah yes, I suppose the description of this tool could've been a little less vague. This tool is a timing experiment designed to empirically analyze how effectively filtered prices offset into the future can be used to determine future levels of support and resistance. It's similar in nature to Ichimoku.
SeanBronato
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@DonovanWall, this is really excellent work I’ll say again. If you follow TD sequential on the month chart it also points to relevance in March/April. I’m still not the biggest fan of the ichimoku cloud. I see similarities in this and that but from first glance I would take preference with these ribbons. I look forward to keeping track of it over time!
SeanBronato
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@DonovanWall, one more question. I take the “offset” as units on the chart? So the 89 offset on the day chart would be 89 days? Similar to Fibonacci time zones more or less?
DonovanWall
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@SeanBronato, Well I'm glad you enjoy the tool. I found a lot of pleasing results with it myself. The offset is simply the number of bars the plot is being transposed. The amount of time the bars represent depends on your charting resolution. So yes, 89 offset on a daily chart is 89 days, and it would be 445 minutes on a 5 minute chart. Similar to Fib time zones, but obviously more dynamic.
SeanBronato
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@DonovanWall, thanks and yes of course much more dynamic! Cheers
mcbw_
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Simple concept, but really demonstrates how interesting offset is as a tool. As Kirklea mentioned the breakouts seems significant here, may be a useful way to define a rangebound area
Do you trade using this indicator yourself? If so, do you use particular settings or default? Do you use complimentary indicators with it? I also like your Trend Intensity Index, and am playing with both of these together. Getting some nice signals too! Thanks for sharing your hard work with us.