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Indicator · Pine Script v5 · On the chart
High Low MA Band Indicator
The High Low MA Band Indicator calculates moving averages separately on high and low prices to create a dynamic price channel overlaid directly on the chart.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code40
Settings2inputs
LicenceNone statedfile: MPL-2.0
Last update4 years ago10 Jan 2022
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
40 lines of Pine Script v5 from indicator/INDICATOR High Low MA Band Indicator (林19).pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © HayashiHitsuji
//@version=5
indicator("INDICATOR: High Low MA Band Indicator (林19)", shorttitle = "HL MA (林19)", overlay = true)
////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
// SET INDICATOR INPUT =========================================================
// MA
ma_type = input.session("EMA", "MA Type", options = ["EMA", "WMA", "VWMA", "HMA"])
ma_length = input.int(50, "MA Value")
// ========================================================================== //
// INDICATOR CALCULATION =======================================================
// MA
ma_high = ma_type == "EMA" ? ta.ema(high, ma_length) :
ma_type == "WMA" ? ta.wma(high, ma_length) :
ma_type == "VWMA" ? ta.vwma(high, ma_length) :
ta.hma(high, ma_length)
ma_low = ma_type == "EMA" ? ta.ema(low, ma_length) :
ma_type == "WMA" ? ta.wma(low, ma_length) :
ma_type == "VWMA" ? ta.vwma(low, ma_length) :
ta.hma(low, ma_length)
// ========================================================================== //
////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
// PLOt COLOR ==================================================================
color_ma = close > ma_high ? color.aqua : close < ma_low ? color.fuchsia : color.white
// ========================================================================== //
// PLOT ========================================================================
p_ma_high = plot(ma_high, color = color_ma)
p_ma_low = plot(ma_low, color = color_ma)
fill(p_ma_high, p_ma_low, color = color.new(color_ma, 80))
// ========================================================================== //
////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
Overview
Users can select between Exponential, Weighted, Volume-Weighted, or Hull Moving Average calculation types and adjust the length period. The channel fills with color based on market state: aqua when the closing price is above the high band, fuchsia when below the low band, and white while inside the channel.
- Dual moving average channel based on high and low prices
- Multiple MA types supported including EMA, WMA, VWMA, and HMA
- Dynamic color-coded channel fill based on price relative to bands
- Customizable moving average length parameter
Details
Published by
hayashi19 on GitHub
Code credit
HayashiHitsuji, as written in the script's header
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
Trend, 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 |
|---|---|---|---|
| MA Type | session | EMA | ma_type |
| MA Value | int | 50 | ma_length |
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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