This plots the moving averages, either exponential or standard. When it is declining it shows the MA in red, green when rising.
Trading MA: Bullish when it is rising, Bearish when it is falling
Trading MA: Bullish when it is rising, Bearish when it is falling
// // Madrid : 03/30/2014 : Moving Average : 2.0 // http://madridjourneyonws.blogspot.com/ // // This plots the moving averages, either exponential or standard // When it is declining it shows the MA in red, green when rising. // Trading MA: Bullish when it is rising, Bearish when it is falling // study(title="Madrid Moving Average", shorttitle="MMA", overlay=true) maLen = input(21, minval=1, title="MA Length") exponential = input(true) src = close ma = exponential ? ema(src, maLen) : sma(src, maLen) maColor = change(ma)>0 ? green : change(ma)<0 ? red : na plot( ma, color=maColor, style=line, title="MMA", linewidth=2)