Moving Average Ribbon/Cloud For ThinkOrSwim

[Alert Turnip]

mod note:
Moving averages help identify and confirm trends, reducing the likelihood of trading against the dominant trend.
Traders use two moving averages—one short-term x length and one longer 2x length
—to spot changes in the trend. When the short-term line (which reacts faster to price moves) crosses above the longer-term line, it is used to confirm the uptrend. When it crosses below, confirmed downtrend.

This is a simple visualization of 2 moving averages - nothing too special. It is a slight improvement on code found here. The poster claims it was originally written by Robert Payne.

input price = close;
input averageType1 = { default Simple, Exponential, Weighted, Wilders, Hull };
input averageType2 = { default Simple, Exponential, Weighted, Wilders, Hull };
input length1 = 10;
input length2 = 20;

def ma1 = MovingAverage(averageType = averageType1, price, length1);
def ma2 = MovingAverage(averageType = averageType2, price, length2);

DefineGlobalColor("Bull", Color.GREEN);
DefineGlobalColor("Bear", Color.RED);

AddCloud(ma1, ma2, GlobalColor("Bull"), GlobalColor("Bear"));

Moving averages lag behind price action, so the signals may not always be the most timely on lower timeframes:
https://usethinkscript.com/threads/lagging-indicator-accuracy-in-thinkorswim.15624/

 

[dart966]

mod note:
Moving averages help identify and confirm trends, reducing the likelihood of trading against the dominant trend.
Traders use two moving averages—one short-term x length and one longer 2x length
—to spot changes in the trend. When the short-term line (which reacts faster to price moves) crosses above the longer-term line, it is used to confirm the uptrend. When it crosses below, confirmed downtrend.

This is a simple visualization of 2 moving averages - nothing too special. It is a slight improvement on code found here. The poster claims it was originally written by Robert Payne.

input price = close;
input averageType1 = { default Simple, Exponential, Weighted, Wilders, Hull };
input averageType2 = { default Simple, Exponential, Weighted, Wilders, Hull };
input length1 = 10;
input length2 = 20;

def ma1 = MovingAverage(averageType = averageType1, price, length1);
def ma2 = MovingAverage(averageType = averageType2, price, length2);

DefineGlobalColor("Bull", Color.GREEN);
DefineGlobalColor("Bear", Color.RED);

AddCloud(ma1, ma2, GlobalColor("Bull"), GlobalColor("Bear"));

View attachment 24874
Moving averages lag behind price action, so the signals may not always be the most timely on lower timeframes:
https://usethinkscript.com/threads/lagging-indicator-accuracy-in-thinkorswim.15624/

This works great with spotting pullbacks, very similar to Ripster Clouds.