Enhanced Multicolor Moving Average -
NOTE: This Moving Average indicator along with several others has been incorporated into the Ultimate Moving Average indicator!
Click here to see a full size chart
Description
- Indicator lets the user select a large number of different types of moving averages, and the plot
will be multi-colored. One color for an up-move in the average, and one color for the down-move.
- Also, the indicator will help you identify when it is in a period of sideways movement (or consolidation)
by means of a minimum breakout setting. When the MA goes into consolidation, the line color will
change to a neutral (user defined) RangingColor.
- Finally, you have to option to color the price bars according to their relationship to the MA. You can
color them based on whether or not they are above the MA, below the MA, or straddling the MA..
Key Features
- 14 different MA types are:
HMA, SMA, SMMA, EMA, WMA, TMA, TEMA, VWMA, VMA, KAMA, LinReg,
ZeroLagEMA, ZeroLagHATEMA, ZeroLagTEMA
- By means of the "Alert Basis" parameter, alerts can be based on one of the following "Signal" events:
1) Trend reversal (from downward to upward, or vice versa)
2a) Price crosses the MA (Live price moves from one side of the MA to the other)
2b) Price enters the zone around the MA...as specified by the AlertZoneArea parameter
- The AlertZoneArea parameter lets you create an "alert zone" above and below the MA. Whenever price
enters this zone, you can signal an alert. Likewise, whenever price exists this zone, you can signal a different alert.
- By means of the "Alert Type" parameter, you can select options for the type of alert when an Signal occurs:
1) Plot a chart marker (Dot on the MA, an Arrow on the bar, or a Triangle on the bar)
2) Play an alert sound
3) Do both (plot a chart marker and play alert sound) when a signal occurs
4) Optional: Send email of signal to user specified email address
Email subject line contains the name of the indicator and the
name of the instrument, and the chart timeframe. Email's are
automatically limited to 1 email per bar, regardless of what
CalculateOnBarClose is set to.
- "Ranging Settings" parameters
To help you identify when the MA is in a consolidation period...the indicator lets you specify a
new line color to be printed when the MA is frequently reversing itself. This is identified by means
of a parameter named "MinTicksForBreakout". That value lets you specify how many ticks of
movement in the MA is required before it is considered to have broken out of a non-trending zone.
- NOTE: This indicator has a sophisticated plotting method that eliminates the
typical "mis-paint" problem associated with NT multicolor lines. The plotting
of trend changes is guaranteed accurate regardless of what CalculateOnBarClose
is set to (true or false).
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