OPEN-SOURCE SCRIPT
Updated MayerMultiple Stochastic
This is an stochastic chart of Price adjusted Mayer Multiple Average Delta.
Moving Average Function can be selected from a list with standard functions and following experimental extras:
- Volume Weighted Exponential Moving Average [ema(x*v, y) / ema(v, y)]
- Volume Weighted Time Decayed Moving Average // similar to vwema, but alpha is calculated from length as half-life decay function (not sure if I got that right...)
Default MA function is sma, to keep it true to the original MM indicator, but I think VWEMA and VWTDMA may perform better with exponential nature of
Bitcoin.
See also:
Suggestions and bug reports are welcome =)
Moving Average Function can be selected from a list with standard functions and following experimental extras:
- Volume Weighted Exponential Moving Average [ema(x*v, y) / ema(v, y)]
- Volume Weighted Time Decayed Moving Average // similar to vwema, but alpha is calculated from length as half-life decay function (not sure if I got that right...)
Default MA function is sma, to keep it true to the original MM indicator, but I think VWEMA and VWTDMA may perform better with exponential nature of
Bitcoin.See also:
Suggestions and bug reports are welcome =)
Release Notes
Use same aggregate function on Mayer Multiple Average for consistencyOpen-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.