8 SMA Bands (Points)

The "8 SMA Bands (Points)" indicator creates a set of eight Simple Moving Average (SMA) bands with adjustable offsets, overlaid on a price chart.

Here’s a breakdown:
Purpose: It tracks price trends using multiple SMAs of varying lengths (default 25, 50, 100, 200, 400, 800, 1600 periods) and adds upper and lower bands around each SMA based on point offsets, helping identify potential support, resistance, and trend strength.

Key Components:
SMAs: Eight SMAs are calculated using closing prices with lengths ranging from 25 to 1600 periods. Each SMA is plotted with a distinct color and line thickness (e.g., MA 1 is blue, MA 8 is white with thicker lines).

Bands: For each SMA, upper and lower bands are created by adding or subtracting a point-based offset (suggestions are to use default Murray Math based numbers e.g., 0.305176 for MA 1, 39.062528 for MA 8) multiplied by a global multiplier (default 1.0). These offsets define the band width and are customizable.

Customization: Users can adjust SMA lengths, offset points, colors, and the global multiplier via input settings grouped by each MA.

Visuals: SMAs are plotted as solid lines with increasing thickness for longer periods (e.g., MA 6–8 use thicker lines or circles).

Bands are plotted as semi-transparent lines matching the SMA color, with longer-term bands (MA 6–7) using a different style for emphasis.

Usage: The indicator helps traders visualize trend direction (upward if price is above most SMAs, downward if below) and potential reversal zones where price interacts with band boundaries.

The flattening or crossing of bands can signal momentum shifts. The coming together of multiple envelope tops/bottoms can signal reversal zones of various degrees based on how many envelopes come together. More envelopes converging mean a more significant top or bottom.

This indicator is particularly useful for identifying multi-timeframe trends and volatility zones on assets like Gold Futures, with flexibility to fine-tune based on market conditions.