OPEN-SOURCE SCRIPT
NSDT Double MA Shading

This script is an interesting take on Convergence and Divergence of Moving Averages. With the built-in MACD Indicator, you cannot make these adjustments to the settings.
DESCRIPTION
The top Moving Average is calculated on the High of the candle.
The bottom Move Average is calculated on the Low of the candle.
If the two are moving apart (Divergence), the shaded area between them turns Green.
If the two are moving together (Convergence), the shaded area between them turns Red.
This may help identify when a trend is becoming stronger or weaker, based on the shaded area and Moving Average direction.
POSSIBLE USAGE
For example:
If the MA's are pointing downward and the shaded area is Green - it means that average distance between the candle High and Low is getting wider, which may indicate a stronger downward movement. Then, when the shaded area turns Red, signaling the average distance between the candle High and Low are getting narrower, this may indicate that the downward movement is weakening, and may be the end of that downward trend.
SETTINGS
You can choose from EMA, SMA, WMA, RMA, HMA, TMA, and VWMA.
Although you can choose the MA Source, it is highly recommended to keep one source on the High of the candle and the other on the Low of the candle, for measure Convergence and Divergence.
All indicator settings are editable.
It can be used on Multi Timeframes (MTF).
This script is free and open source.
DESCRIPTION
The top Moving Average is calculated on the High of the candle.
The bottom Move Average is calculated on the Low of the candle.
If the two are moving apart (Divergence), the shaded area between them turns Green.
If the two are moving together (Convergence), the shaded area between them turns Red.
This may help identify when a trend is becoming stronger or weaker, based on the shaded area and Moving Average direction.
POSSIBLE USAGE
For example:
If the MA's are pointing downward and the shaded area is Green - it means that average distance between the candle High and Low is getting wider, which may indicate a stronger downward movement. Then, when the shaded area turns Red, signaling the average distance between the candle High and Low are getting narrower, this may indicate that the downward movement is weakening, and may be the end of that downward trend.
SETTINGS
You can choose from EMA, SMA, WMA, RMA, HMA, TMA, and VWMA.
Although you can choose the MA Source, it is highly recommended to keep one source on the High of the candle and the other on the Low of the candle, for measure Convergence and Divergence.
All indicator settings are editable.
It can be used on Multi Timeframes (MTF).
This script is free and open source.
開源腳本
秉持TradingView一貫精神,這個腳本的創作者將其設為開源,以便交易者檢視並驗證其功能。向作者致敬!您可以免費使用此腳本,但請注意,重新發佈代碼需遵守我們的社群規範。
ALL indicators, strategies and bots are included with Discord access.
NorthStarDayTrading.com/discord
youtube.com/shorts/fWFQE7uEHvU
NorthStarDayTrading.com/discord
youtube.com/shorts/fWFQE7uEHvU
免責聲明
這些資訊和出版物並非旨在提供,也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。
開源腳本
秉持TradingView一貫精神,這個腳本的創作者將其設為開源,以便交易者檢視並驗證其功能。向作者致敬!您可以免費使用此腳本,但請注意,重新發佈代碼需遵守我們的社群規範。
ALL indicators, strategies and bots are included with Discord access.
NorthStarDayTrading.com/discord
youtube.com/shorts/fWFQE7uEHvU
NorthStarDayTrading.com/discord
youtube.com/shorts/fWFQE7uEHvU
免責聲明
這些資訊和出版物並非旨在提供,也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。