Moving Average Channel plots separate simple moving averages for upper and lower bands on the price chart. It fills the space between bands with semi-transparent color and colors bars green above the upper band, red below the lower band, or gray in between. Us
Indicator · Pine Script v5 · On the chart
Grid Level
This indicator constructs a grid of upper and lower price levels centered around a Simple Moving Average baseline.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code50
Settings2inputs
LicenceNone stated
Last update3 years ago10 Nov 2022
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
Grid Level calculates ten upper bands and ten lower bands spaced evenly at step multipliers defined by the grid gap percentage. These bands are plotted directly on the main price chart to serve as dynamic support and resistance reference points. Traders can adjust the rolling SMA period and the grid gap spacing.
- SMA baseline calculation
- Multiple percentage-based grid levels
- Overlay on price chart
Details
Published by
JohnsonHsiao on GitHub
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
Support & resistance, Moving averages
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.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| rolling_period | int | 50 | rolling_period |
| grid_gap | float | 0.01 | grid_gap |
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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