How To Plot Parallel MA

[bikeeagle1]

Hi folks. I am trying to learn to use ThinkScript for the first time, and I think my request is simple, but it's beyond my noob skills.

All I am trying to do is to plot a parallel line referenced to a simple moving average. Specifically, how can I plot, on one chart, both the 50-period simple MA and another line 15% above that MA? This would result in a band with the bottom being the 50-period and the upper being 15% above the 50-Period.

Thanks in advance!

 

[OBW]

Since you are wanting to learn, you should read through the official Thinkscript tutorial. https://tlc.thinkorswim.com/center/reference/thinkScript/tutorials

As to your script, it can be accomplished with just two lines using the Plot() function. https://tlc.thinkorswim.com/center/reference/thinkScript/Reserved-Words/plot

If you get stuck, post the code that you have come up with and someone can point you in the right direction.

Puzzling it out yourself is the best way to learn.

 

[germanburrito]

@bikeeagle1 An easy way to plot the line a bit higher would be to

#
# TD Ameritrade IP Company, Inc. (c) 2017-2020
#

input price = close;
input length = 9;
input displace = 0;
input showBreakoutSignals = no;

plot SMA = Average(price[-displace], length);

plot sma2 = sma*1.15;

SMA.SetDefaultColor(GetColor(1));

What do you use this for, i know the 50 day is very useful.

 

[bikeeagle1]

@germanburrito Thanks! I like to watch the 50-Week Simple MA on SPY. SPY is rarely above 15% above that MA and when it is (like now) it doesn't stay there for long. Having that MA on every time frame makes it easy to see when we are close to or above it.

In the TOS Chat room, someone gave me this script which seems to be working well:

def c = close(period = "WEEK");
def Avg = Average(c, 50);
def u = Avg * 1.15;
plot upper = u;