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!
 

OBW

Member

germanburrito

Active member
@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.
 

bikeeagle1

New member
@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

Top