Dynamic Support Line plots a composite moving average built by averaging six moving average types, then smoothing the result, with upper and lower bands set by a standard deviation multiplier.
The fill turns green when price is above the mid line and red below it. Optional markers flag bounces off a band and closes beyond a band. Settings control the average length, deviation length, band multiplier and colors. It draws on the price chart.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Source
source
ohlc4
src
MA Length
int
5
maLen
StdDev Length
int
14
stdLen
Band Multiplier
float
1.786
stdMult
Show Band Fill
bool
true
i_showFill
Show Bounce/Break Signals
bool
true
i_showSignals
Mid Line Color
color
color.white
midColor
Band Color
color
color.rgb(25, 0, 253)
bandColor
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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