How To Plot Parallel MA

bikeeagle1

New member
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!
 

Join useThinkScript to post your question to a community of 21,000+ developers and traders.

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

Code:
#
# 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.
 
@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:

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

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
293 Online
Create Post

Similar threads

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
Back
Top