Algo: 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

Algo uses a custom DSMA function that applies a filter derived from exponential smoothing coefficients, scales the result by RMS, and smooths with alpha. DSMA1 applies a length of 40 and plots in aqua color while DSMA2 applies a length of 100 and plots in red color. The lines overlay directly on the price chart. Inputs control visibility of each line and the data source used.

DSMA lines
custom filter
RMS scaling
price chart overlay
multi length

Details

Published by

TamTH-Dev on GitHub

Code credit

tamth_, as written in the script's header

Type

Indicator, Pine Script v6

Draws

On the price chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.

File

strategies/strategies1/Algo.pine

Repository

github.com/TamTH-Dev/trading-view-scripts. 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
Show	`bool`	`true`	`dsmaShowed`
Source	`source`	`close`	`dsmaSrc`
DSMA 1 Length	`int`	`40`	`dsma1Len`
DSMA 2 Length	`int`	`100`	`dsma2Len`
Show	`bool`	`false`	`emaShowed`
Source	`source`	`close`	`emaSrc`
EMA 1 Length	`int`	`5`	`ema1Len`
ema1Color	`color`	`GREEN_COLOR`	`ema1Color`
Show	`bool`	`true`	`ema1Showed`
EMA 2 Length	`int`	`8`	`ema2Len`
ema2Color	`color`	`BLUE_COLOR`	`ema2Color`
Show	`bool`	`true`	`ema2Showed`

Show all 40 settings

Setting	Type	Default	Variable
EMA 3 Length	`int`	`21`	`ema3Len`
ema3Color	`color`	`RED_COLOR`	`ema3Color`
Show	`bool`	`true`	`ema3Showed`
EMA 4 Length	`int`	`34`	`ema4Len`
ema4Color	`color`	`ORANGE_COLOR`	`ema4Color`
Show	`bool`	`true`	`ema4Showed`
EMA 5 Length	`int`	`55`	`ema5Len`
ema5Color	`color`	`YELLOW_COLOR`	`ema5Color`
Show	`bool`	`true`	`ema5Showed`
EMA 6 Length	`int`	`89`	`ema6Len`
ema6Color	`color`	`PURPLE_COLOR`	`ema6Color`
Show	`bool`	`true`	`ema6Showed`
Show	`bool`	`false`	`vpShowed`
Lookback	`int`	`200`	`vpLen`
Size Of Levels	`int`	`360`	`vpLevelsSize`
Profile's Width	`int`	`16`	`vpWidth`
Bar's Width	`int`	`2`	`vpBarWidth`
Offset From Last Bar	`int`	`20`	`vpOffset`
Color	`color`	`DARK_GRAY_COLOR`	`vpColor`
Show	`bool`	`true`	`srShowed`
Period	`int`	`284`	`srPrd`
Support Color	`color`	`#212d4080`	`srSupportColor`
Resistance Color	`color`	`#212d4080`	`srResistanceColor`
Strength	`int`	`2`	`srStrength`
Zone Width In %	`float`	`1.5`	`srZoneWidthPerc`
Value Color	`color`	`TEXT_COLOR`	`srValColor`
Signal Arrows	`bool`	`true`	`sigarrows`
Signal Type	`string`	`+/-`	`sigt`

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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