This indicator calculates Kaufman's Adaptive Moving Average (KAMA) on a chosen price source and determines trend direction based on the slope across a configurable lookback window. Signals can be filtered by short-term volatility expansion using ATR comparison
Indicator · Pine Script v4 · On the chart
EMA with Volume Weighted EMA
This indicator plots an exponential moving average of close and a volume-weighted exponential moving average on the price chart.
GitHub stars2on the repository
Pine versionv4older, still runs
Lines of code34
Settings2inputs
LicenceNone statedfile: MPL-2.0
Last update2 years ago4 Aug 2024
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 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
34 lines of Pine Script v4 from src/pinelogs/ema-trend-predict.txt, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
// This Pine Script™ code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © Flapjackcoin
//@version=4
study(title="EMA with Volume Weighted EMA", shorttitle="EMA & VWEMA", overlay = true)
// EMA Parameters
emaLength = input(14, title="EMA Length")
emaSource = close
emaLine = ema(emaSource, emaLength)
// Volume Weighted EMA Parameters
vwemaLength = input(14, title="VWEMA Length")
halfVolume = volume / 2
vwemaSource = close * halfVolume
vwemaLine = ema(vwemaSource, vwemaLength) / ema(halfVolume, vwemaLength)
// Detect Trend Changes
emaCrossUp = crossover(emaLine, vwemaLine)
emaCrossDown = crossunder(emaLine, vwemaLine)
// Change VWEMA color based on trend
vwemaColor = emaCrossUp ? color.green : emaCrossDown ? color.red : color.rgb(245, 182, 11)
// Plot EMA
plot(emaLine, color=color.blue, title="EMA Line", linewidth=3)
// Plot Circles on VWEMA
plotshape(series=vwemaLine, location=location.absolute, style=shape.circle, color=vwemaColor, title="VWEMA Circles")
// Plot Arrows
plotshape(series=emaCrossUp, location=location.belowbar, color=color.green, style=shape.triangleup, title="Up Trend Arrow")
plotshape(series=emaCrossDown, location=location.abovebar, color=color.red, style=shape.triangledown, title="Down Trend Arrow")
Overview
EMA with Volume Weighted EMA builds the volume-weighted line from close multiplied by half the bar volume, divided by an exponential average of that half volume. Green and red circles mark the volume-weighted line when the two averages cross, and orange circles mark other bars. Triangle arrows appear below or above bars on those crosses. Length inputs change both averages. It does not place trades or set exits.
- Adjustable EMA length on close
- Volume-weighted EMA using half volume
- Color-coded circles on the volume-weighted line
- Up and down arrows on average crosses
- Overlay drawn on the price chart
Details
Published by
0xRadicalEd on GitHub
Code credit
Flapjackcoin, as written in the script's header
Type
Indicator, Pine Script v4
Draws
On the price chart
Category
Trend, Moving averages, Volume
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.
Repository
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| EMA Length | int | 14 | emaLength |
| VWEMA Length | int | 14 | vwemaLength |
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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