Guppy's Multiple Moving Average and Convergence/Divergence

[Alexander.Gettinger]

Great job. Thank you.
Could you possibly add a line following the ends of the bars of the histogram - something like the slow CCI line in Woodies CCI indicator. It would make the indicator even more readable. Its colour could be specified by the user.

Cheers

Please, see this version of indicator.
Download:

GMMACD2.lua

(1.93 KiB) Downloaded 1567 times

[Jigit Jigit]

Thank you Alexander.

[Jigit Jigit]

Could you please make it change its colour depending on whether it is above or under the zero line. Ideally, I'd like it to change colours like e.g. Golden MACD http://www.fxcodebase.com/code/viewtopi ... macd#p5549

So the first couple of bars after crossing the 0 line could be e.g. gray.

Thanks for all your great work!

[Apprentice]

Your request is added to the developmental cue.

[waelsaleem]

Hello,

I have a request to make this strategy even better: Breakout-GMMACD Strategy:
This would be identical to the breakout strategy. The only difference is that the trade is triggered only if it is confirmed by the GMMACD indicator histogram. if the histogram (GMMACD value) is in the same direction of the trade, then the trade is triggered. Exit strategies are identical to the original strategy.

Note the diagram attached. The improved strategy would prevent the 2 potentially losing triggers that would have been otherwise triggered by the standard strategy.

This will likely prevent many losing trades triggered against the overal trend. Let me know what you think.

Great job as always.

[Jigit Jigit]

Hi guys,
while waiting for my request (above) to be dealt with I've tried to modify the lua script myself. Would you be so kind as to have a look and let us know what's wrong with it.

What I'm trying to achieve is to make the indicator change its colour depending on its position against the zero line.

Code: Select all

function Init()
    indicator:name("Guppy's Multiple Moving Average Convergence/Divergence with colouring");
    indicator:requiredSource(core.Tick);
    indicator:type(core.Oscillator);

    indicator.parameters:addColor("COLOR1", "Indicator's Color", "", core.rgb(0, 168, 0));
    indicator.parameters:addColor("COLOR2", "Indicator's Color", "", core.rgb(168, 0, 0));
end

local source = nil;
local GMMA = nil;
local out = nil;
local out1 = nil;
local out2 = nil;
local first = nil;

function Prepare()
    source = instance.source;
    local name;
    -- set the indicator name (use the short name of our indicator: GMMA)
    name = profile:id() .. "(" .. source:name() .. ")";
    instance:name(name);
    GMMA = core.indicators:create("GMMA", source);
    first = GMMA:getStream(11):first();
    out1 = instance:addStream("H", core.Bar, name .. ".H", "H", instance.parameters.COLOR1, first);
    out2 = instance:addStream("H", core.Bar, name .. ".H", "H", instance.parameters.COLOR2, first);
    out:addLevel(0);
end

function Update(period, mode)
    GMMA:update(mode);

    if (period >= first) then
        local f, s;
        f = GMMA:getStream(0)[period] + GMMA:getStream(1)[period] + GMMA:getStream(2)[period] +
            GMMA:getStream(3)[period] + GMMA:getStream(4)[period] + GMMA:getStream(5)[period];
        s = GMMA:getStream(6)[period] + GMMA:getStream(7)[period] + GMMA:getStream(9)[period] +
            GMMA:getStream(9)[period] + GMMA:getStream(10)[period] + GMMA:getStream(11)[period];
       
        out[period] = (f - s) / s * 100;
   
        if out[period] > 0 then out1;
        elseif out[period] <0 then out2;
    end
end



Cheers

[Apprentice]

Try this Version of GMMACD.
I have add Coloring Option.

GMMACD.lua

(1.63 KiB) Downloaded 1723 times

[Jigit Jigit]

Thank you Apprentice. It certainly does the trick.

[zmender]

Would it be possible to have a multi frame (BF) version of this indicator?

[sunshine]

You can choose the the bigger timeframe on the Data Source tab in the Indicator Properties dialog box.
Please read also: Applying other time frame indicator