Moving Average Chopzone Color: Free TradingView Indicator (Pine Script)

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

116 lines of Pine Script v5 from indicator/INDICATOR Moving Average Chopzone Color (林19).pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.

INDICATOR Moving Average Chopzone Color (林19).pine

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © HayashiHitsuji

// |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||| //
// This chopzone indicator is using the original calculation from the chopzone indicator, that can be found in tradingview indicator list.
// This indicator is just a modification from the original chopzone indicator,
// rather than just plot the indicator color, this new chopzone indicator plot the color at the candle stick and also show the moving average.
// Rather than just use one moving average type (just EMA), this new chopzone indicator have a varient type of moving average.
// |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||| //

//@version=5
indicator("INDICATOR: Moving Average Chopzone Color (林19)", shorttitle = "I MA-CZ (林19)", overlay = true)

////////////////////////////////////////////////////////////////////////////////
// INDICATOR INPUT /////////////////////////////////////////////////////////////
////////////////////////////////////////////////////////////////////////////////

// Input: for source of the indicator ==========================================
src = input(close, title = "Source")                                            
// ========================================================================== //

// Input: for chopzone calculation value =======================================
CHOPZONE    = input.bool(true, "=== CHOPZONE =================================")

avg         = input.source(ohlc4, "Indicator Average Source")
pi          = math.atan(input.int(1, "Arctan")) * input.int(4, "Arctan Mult")
periods     = input.int(30, "High Low Period")
highestHigh = ta.highest(periods)
lowestLow   = ta.lowest(periods)
span        = input.int(25, "Span") / (highestHigh - lowestLow) * lowestLow

candle_color= input.bool(false, "Use regural candle color?")
// ========================================================================== //

// Input: for moving average type and lenght value =============================
MA          = input.bool(true, "=== MA =======================================")

ma_1_type   = input.session('SMA', "MA Type", 
                 options = ['SMA','EMA','ALMA','HMA','RMA','SWMA','VWMA','WMA', "LSMA", "TEMA", "DEMA"])
ma_1_lenght = input.int(34, "MA")
ma_1_offset = input.int(0, "MA Offset")
ma_1_sigma  = input.float(0.85, "MA Sigma")
ma_1_floor  = input.int(6, "MA Floor")
// ========================================================================== //

////////////////////////////////////////////////////////////////////////////////
// INDICATOR CALCULATION & ALGORITHM ///////////////////////////////////////////
////////////////////////////////////////////////////////////////////////////////

// Algo: Selecting the moving average type =====================================
// TEMA DEMA
tema11      = ta.ema(src, ma_1_lenght)
tema12      = ta.ema(tema11, ma_1_lenght)
tema13      = ta.ema(tema12, ma_1_lenght)
tema_1      = 3 * (tema11 - tema12) + tema13

dema11      = ta.ema(src, ma_1_lenght)
dema12      = ta.ema(dema11, ma_1_lenght)
dema_1      = 2 * dema11 - dema12

// MA TYPE
ma          = ma_1_type == 'SMA' ? ta.sma(src, ma_1_lenght) :
                 ma_1_type == 'EMA' ? ta.ema(src, ma_1_lenght) :
                     ma_1_type == 'ALMA' ? ta.alma(src, ma_1_lenght, ma_1_sigma, ma_1_floor) :
                         ma_1_type == 'HMA' ? ta.hma(src, ma_1_lenght) :
                             ma_1_type == 'RMA' ? ta.rma(src, ma_1_lenght) :
                                 ma_1_type == 'SWMA' ? ta.swma(src) :
                                     ma_1_type == 'VWMA' ? ta.vwma(src, ma_1_lenght) :
                                         ma_1_type == 'WMA' ? ta.wma(src, ma_1_lenght) :
                                             ma_1_type == 'LSMA' ? ta.linreg(src, ma_1_lenght, ma_1_offset) :
                                                 ma_1_type == 'TEMA' ? tema_1 :
                                                     ma_1_type == 'DEMA' ? dema_1 : na
// ========================================================================== //

// Algo: chopzone calculaion ===================================================
// Chopzone input value calculation
x1_ma       = 0
x2_ma       = 1
y1_ma       = 0
y2_ma       = (ma[1] - ma) / avg * span

c_ma        = math.sqrt((x2_ma - x1_ma) * (x2_ma - x1_ma) + (y2_ma - y1_ma)*(y2_ma - y1_ma))
ma_angle_1  = math.round(180 * math.acos((x2_ma - x1_ma)/c_ma) / pi)
ma_angle    = y2_ma > 0 ? - ma_angle_1 : ma_angle_1

// Chopzone color
chop_zone_color = ma_angle >= 5 ? #00FF00 :
                     ma_angle < 5 and ma_angle >= 3.57 ? #00FFFF :
                         ma_angle < 3.57 and ma_angle >= 2.14 ? #005EFF :
                             ma_angle < 2.14 and ma_angle >= .71 ? #A4E600 :
                                 ma_angle <= -1 * 5 ? #FF0000 :
                                     ma_angle > -1 * 5 and ma_angle <= -1 * 3.57 ? #FF17FF :
                                         ma_angle > -1 * 3.57 and ma_angle <= -1 * 2.14 ? #BE0AFF :
                                             ma_angle > -1 * 2.14 and ma_angle <= -1 * .71 ? #FF5500 :
                                                 color.yellow
// ========================================================================== //

// Algo: use the regural candlestick color =====================================
r_candle_color  = close > open ? color.lime : color.red
p_candle_color  = candle_color ? r_candle_color : chop_zone_color
// ========================================================================== //

////////////////////////////////////////////////////////////////////////////////
// PLOT INDICATOR //////////////////////////////////////////////////////////////
////////////////////////////////////////////////////////////////////////////////

// Plot: candle with the color from chopzone color =============================
plotcandle(CHOPZONE ? open : na, high, low, close, 
             color = p_candle_color, 
                 wickcolor = p_candle_color, 
                     bordercolor = p_candle_color)
// ========================================================================== //

// Plot: the moving average indicator ==========================================
plot(MA ? ma : na, color = color.white)
// ========================================================================== //

Overview

Moving Average Chopzone Color also plots a selectable moving average, with options SMA, EMA, ALMA, HMA, RMA, SWMA, VWMA, WMA, LSMA, TEMA and DEMA. Settings include source, arctan values, high-low period, span, moving average length, offset, sigma and floor. A switch keeps the regular candle colours.

Chop zone candle colouring
Eleven moving average types
Adjustable length, offset and ALMA settings
Overlay on the price chart

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

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.

File

indicator/INDICATOR Moving Average Chopzone Color (林19).pine

Repository

github.com/hayashi19/pinescript_code. See its other scripts in the library

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
Source	`source`	`close`	`src`
=== CHOPZONE =================================	`bool`	`true`	`CHOPZONE`
Indicator Average Source	`source`	`ohlc4`	`avg`
Arctan	`int`	`1`	`Arctan`
Arctan Mult	`int`	`4`	`Arctan Mult`
High Low Period	`int`	`30`	`periods`
Span	`int`	`25`	`span`
Use regural candle color?	`bool`	`false`	`candle_color`
=== MA =======================================	`bool`	`true`	`MA`
MA Type	`session`	`SMA`	`ma_1_type`
MA	`int`	`34`	`ma_1_lenght`
MA Offset	`int`	`0`	`ma_1_offset`

Show all 14 settings

Setting	Type	Default	Variable
MA Sigma	`float`	`0.85`	`ma_1_sigma`
MA Floor	`int`	`6`	`ma_1_floor`

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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