OPEN-SOURCE SCRIPT
Updated Rainbow Moving Average
A Rainbow Moving Average script. There are many like it, but this one is mine. It is designed to be easy to read without too much noise in the number of lines and shading, with the moving average to be some of the commonly used ones. Using commonly referenced moving average values help us to understand "the crowd" and what moving average or trend lines they might be looking at. The default values are derived from hourly charts, but work well on any time frame.
The moving average function is simple to change so you can use it for any moving average type that you like, including volume-weighted.
Inspired by my daughter's love of rainbows, she has approved the colors.
The moving average function is simple to change so you can use it for any moving average type that you like, including volume-weighted.
Inspired by my daughter's love of rainbows, she has approved the colors.
Release Notes
Added Hull Moving Average (HMA) as an indicator option.Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.