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
Moving Average Color Filter
This indicator calculates an Exponential Moving Average (EMA) and plots it directly on the main price chart.
GitHub stars2on the repository
Pine versionv5runs as is
Lines of code19
Settings1inputs
LicenceNone statedfile: MPL-2.0
Last update2 years ago13 Sep 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
19 lines of Pine Script v5 from advanced-pine-script/5.Indicators/3.Moving-Average-Color-Filter.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
// https://courses.theartoftrading.com/courses/take/pine-script-mastery/lessons/30008040-moving-average-color-filter
// This Pine Script™ code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © DegenerateChain
//@version=5
indicator("Moving Average Color Filter", overlay=true)
// Get user input
maLength = input.int(title="MA Length", defval=50, minval=1)
//Get MA
ema = ta.ema(close, maLength)
// Get MA Filter
maFilter = close > ema ? true : false
// Draw MA
plot(ema, title="EMA", color=maFilter ? color.green : color.red, linewidth=2)
Overview
Moving Average Color Filter dynamically changes the color of the EMA line based on the relationship between the current closing price and the moving average value. The line turns green when the close is above the EMA and red when it is below, serving as a simple visual trend filter. Users can adjust the moving average period length through the settings menu.
- Dynamic color-changing EMA line
- Configurable moving average length
- On-chart trend direction overlay
Details
Published by
Web3Degenerate on GitHub
Code credit
DegenerateChain, as written in the script's header
Type
Draws
On the price chart
Category
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 Length | int | 50 | maLength |
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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