Safe Hull Moving Average Indicator for ThinkorSwim

[BenTen]

About the SafeHullMovingAverage indicator:

This indicator is the standard colored Hull, expect that it has a neutral color. When the Hull does not match the MACD, it colors it yellow. We assume that when the Hull color is Green and Red, those are the safe periods.

thinkScript Code

input price = close;
input length = 100;
input displace = 0;

input FastLength = 180;
input SlowLength = 208;
input MACDLength = 72;

input AverageType = {SMA, default EMA};

def macd = MACD(FastLength, SlowLength, MACDLength, AverageType).Diff;

def halflength = Ceil(length / 2);
def sqrtlength = Ceil(Sqrt(length));
def val = 2 * wma(price, halflength) - wma(price, length);

plot HMA = wma(val, sqrtlength)[-displace];
HMA.SetDefaultColor(GetColor(1));

HMA.SetLineWeight(2);
HMA.DefineColor("UP", Color.BLUE);
HMA.DefineColor("DOWN", Color.RED);
HMA.DefineColor("NEUTRAL", Color.ORANGE);

def isUP;
def isDOWN;
def isNEUTRAL;

if HMA > HMA[1] and macd >= 0 then {
    isUP = yes;
    isDOWN = no;
    isNEUTRAL = no;
} else {
    if HMA < HMA[1] and macd <= 0 then {
        isUP = no;
        isDOWN = yes;
        isNEUTRAL = no;
    } else {
        isUP = no;
        isDOWN = no;
        isNEUTRAL = yes;
    }
}

HMA.AssignValueColor(if isUP then HMA.color("UP") else if isDOWN then HMA.color("DOWN") else HMA.color("NEUTRAL"));

Shareable Script

https://tos.mx/nbwaBU

 

[RDMercer]

question: is this updated and what time period do you recommend? I read different from 9,20,50,105. also what timeframe?

No dog in this fight but there are articles on the web re strengths of various moving average studies. Hull is not ranked that high and, in fact, the old standbys of MACD, and 50/100/200 crossovers produced better results. Just an FYI. and sure you'll test any study before putting into practice. All the best.

 

[stocksniper]

Love this Hull Macd, is there a way to put a boolean arrow up on the and Down arrow for down. Thanks in advance.

 

[MerryDay]

Add this to the bottom of your script:

#Add Arrows
def UPcondition = isUP ;
def DNcondition = isDOWN ;
plot upArrow = !UPcondition[1] and UPcondition;
upArrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
upArrow.SetDefaultColor(color.cyan) ;
upArrow.SetLineWeight(1);

plot dnArrow = !DNcondition[1] and DNcondition;
dnArrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
dnArrow.SetDefaultColor(color.magenta) ;
dnArrow.SetLineWeight(1);

Here is a tutorial on how to create your own arrows on any script:
https://usethinkscript.com/resources/thinkscript-boolean-arrows-in-thinkorswim.17/