by 
The Adaptive Laguerre Filter calculates a smoothed, dynamically adjusted trendline plotted directly on the main price chart. It dynamically adjusts its damping factor (alpha) based on recent price range variations and median percentile calculations over a spec
Indicator · Pine Script v5 · On the chart
McGinley Dynamic
This indicator plots the McGinley Dynamic as a single line on the price chart.
GitHub stars37on the repository
Pine versionv5runs as is
Lines of code7
Settings1inputs
LicenceMIT
Last update3 years ago10 Feb 2023
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
7 lines of Pine Script v5 from Technical-Indicators/Technical Indicators are Here🤩/McGinley-Dynamic.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
//@version=5
indicator(title="McGinley Dynamic", overlay=true, timeframe="", timeframe_gaps=true)
length = input.int(14, minval=1)
source = close
mg = 0.0
mg := na(mg[1]) ? ta.ema(source, length) : mg[1] + (source - mg[1]) / (length * math.pow(source/mg[1], 4))
plot(mg)
Overview
McGinley Dynamic seeds the line with an exponential moving average of the close, then updates each bar by adding a fraction of the gap between price and the previous value. That fraction depends on the length setting and a fourth-power ratio of price to the prior line, so the line speeds up or slows down as price moves away from it. The only input is the lookback length, which defaults to 14. It does not generate entries, exits, stops, or alerts.
- Overlay McGinley Dynamic line
- Length input defaulting to 14
- Seeded from an EMA of close
- Fourth-power price-ratio adjustment
Details
Published by
TWODS-CAPITAL on GitHub
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
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 |
|---|---|---|---|
| length | int | 14 | 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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