2XTMA Centered Bands Indicator: Free TradingView Indicator (Pine Script)

Add It to Your TradingView Chart

1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.

Source Code

The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.

Overview

2XTMA Centered Bands Indicator colors each average bull or bear and can show an angle caution label. Optional alerts fire on band crosses, a return toward the band, and rebound arrows. Settings change each half-period, price source, ATR length, ATR multiplier, and angle threshold. Because the average is centered, values inside the half-period window use later bars and can change after they print.

Two centered TMA band sets
ATR-scaled upper and lower bands
Selectable price source
TMA angle caution labels
Optional cross and arrow alerts

Details

Published by

msongkiet on GitHub

Type

Indicator, Pine Script v5

Draws

On the price chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

Signals can change on the live bar or after it closes (repainting)

File

2TMA.pine

Repository

github.com/msongkiet/TDV_share. See its other scripts in the library

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
Centered TMA half period	`int`	`12`	`HalfLength`
Price to use	`string`	`Weighted`	`PriceType`
Average true range period	`int`	`100`	`AtrPeriod`
Average true range multiplier	`float`	`2`	`AtrMultiplier`
Centered TMA angle caution	`int`	`4`	`TMAangle`
Bear	`color`	`color.new(color.red, 0)`	`colorDOWN`
Bull	`color`	`color.new(color.green, 0)`	`colorUP`
Bands	`color`	`color.new(#b2b5be, 0)`	`colorBands`
Caution label	`bool`	`true`	`cautionInput`
Crossing up	`bool`	`false`	`crossUpInput`
Crossing down	`bool`	`false`	`crossDownInput`
Coming back	`bool`	`false`	`comingBackInput`

Show all 28 settings

Setting	Type	Default	Variable
On arrow down	`bool`	`false`	`onArrowDownInput`
On arrow up	`bool`	`false`	`onArrowUpInput`
Centered TMA half period	`int`	`24`	`HalfLength2`
Price2 to use	`string`	`Weighted`	`PriceType2`
Average true range period	`int`	`200`	`AtrPeriod2`
Average true range multiplier	`float`	`4`	`AtrMultiplier2`
Centered TMA angle caution2	`int`	`8`	`TMAangle2`
Bear	`color`	`color.new(color.red, 0)`	`colorDOWN2`
Bull	`color`	`color.new(color.green, 0)`	`colorUP2`
Bands	`color`	`color.new(#b2b5be, 0)`	`colorBands2`
Caution label	`bool`	`true`	`cautionInput2`
Crossing up	`bool`	`false`	`crossUpInput2`
Crossing down	`bool`	`false`	`crossDownInput2`
Coming back	`bool`	`false`	`comingBackInput2`
On arrow down	`bool`	`false`	`onArrowDownInput2`
On arrow up	`bool`	`false`	`onArrowUpInput2`

Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.

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