OPEN-SOURCE SCRIPT
Updated Volume MAs Supertrend | Lyro RS
๐ Volume MAs Supertrend | Lyro RS is an advanced trading tool that combines volume-adjusted moving averages with a dynamic Supertrend system. This indicator provides a robust framework for identifying market trends and entry/exit points.
โจ Key Features:
๐ง How It Works:
โ๏ธ Customization Options:
๐ Use Cases:
โ ๏ธ Disclaimer:
This indicator should not be used as a standalone tool for making trading decisions. Always combine with other forms of analysis and risk management practices.
โจ Key Features:
- ๐ Volume-Weighted Moving Averages (VWMA): Integrates price and volume data to provide a more accurate moving average, allowing for better trend analysis.
- ๐ง Multiple MA Types: Choose from SMA, EMA, WMA, VWMA, DEMA, TEMA, RMA, HMA, ALMA to suit your preferred trading strategy.
- ๐ Dual-Multiplier Supertrend System: Uses ATR to dynamically calculate upper and lower bands for long and short trends, with distinct multipliers for each.
- ๐จ Customizable Color Schemes: Choose from Classic, Mystic, Accented, and Royal color palettes or customize your own colors for bullish and bearish trends.
- ๐ Visual Enhancements: Color-coded Supertrend lines, candlesticks, and bars for quick trend identification.
- โฐ Alert System: Alerts for long and short signals based on trend changes.
๐ง How It Works:
- The Supertrend line is calculated using ATR over a user-defined period, with separate multipliers for long and short positions.
- ๐ A bullish trend is signaled when the price crosses above the upper band, and a bearish trend is signaled when the price crosses below the lower band.
- ๐จ The Supertrend line changes color to reflect trend direction, with candlesticks and bars matching the trend's color for visual clarity.
โ๏ธ Customization Options:
- ๐ ๏ธ Moving Average Settings: Select your preferred moving average type (SMA, EMA, VWMA, etc.) and adjust the length for smoother or more responsive trend signals.
- ๐ Supertrend Parameters: Define the ATR period and adjust multipliers to fine-tune sensitivity for long and short signals.
- ๐จ Color Configuration: Choose from predefined color palettes or create your own custom scheme for trend signals.
๐ Use Cases:
- โ
Confirm market trends before entering trades.
- ๐ช Identify potential entry/exit points as trend directions shift.
- ๐ Visually analyze market conditions with color-coded candlesticks and bars.
โ ๏ธ Disclaimer:
This indicator should not be used as a standalone tool for making trading decisions. Always combine with other forms of analysis and risk management practices.
Release Notes
chart fix.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.