It shows how fast a stock's momentum is changing and in what direction.
As standard I left the controls in the settings for source and length of the estimate.
I will be incorporating this in other more complicated scripts here shortly
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
study(title="MaxW's DMA", shorttitle="MaxW's DMA", overlay=false) dAccuracy = input(1, minval=1, title="Derivative Estimate") dSrc = input(close, title="Source") slope = (dSrc - dSrc[dAccuracy]) / dAccuracy aAccuracy = input(1, minval=1, title="Acceleration Estimate") dSlope = (slope - slope[aAccuracy]) / aAccuracy plot(dSlope)