The Variable Length Moving Average was created by George R. Arrington Ph.D. (Stocks & Commodities V. 9:6 (219-223)) and I'm really loving this indicator. It is a great moving average that hugs the price very closely and it is fully adjustable to your needs. It detects signals extremely well and I have color coded the moving average line to make it very easy to interpret.
This is not to be confused with the Variable Moving Average created by Tushar S. Chande and as of now I haven't seen any other script for this moving average out there yet.
Please let me know if you would like me to write any other scripts for indicators you would like to see!
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Changed the default max length
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updated to match my other indicators
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fixed issue with default resolution
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Fixed a mistake that was pointed out to me by @RedKTrader
Good Job! i have just read an article on Jstor using this moving average.
cyclonemo
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How would you set an alert on the color change?
cheatcountry
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@cyclonemo, For now you would set an alert if src crosses over vlma but in the near future, I will be redoing all of my formulas to make the alert process much easier
cyclonemo
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@cheatcountry, My apologies in advance. What is SRC?
cheatcountry
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@cyclonemo, src by default is the close price but you can change it to any input you want