Created
November 18, 2021 18:35
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| //@version=5 | |
| // Based off of Oliver Velez's concept of moving averages being zones | |
| // or magnets that pull and bend price. Like leaning into a fence. | |
| indicator(title="Moving Average Zone", shorttitle="MA Zone", overlay=true, timeframe="", timeframe_gaps=true) | |
| ma_len = input.int(20, minval=1, title="Moving average length") | |
| center_line_width = input(1, title="Center line width") | |
| center_line_color = input.color(color.new(color.blue, 50), "Center line color") | |
| center_line_src = input(close, title="Center line source") | |
| zone_width = input(15, title="Zone width") | |
| zone_color = input.color(color.new(color.blue, 80), "Zone color") | |
| zone_src = input(close, title="Zone source") | |
| center_line_out = ta.sma(center_line_src, ma_len) | |
| plot(center_line_out, color=center_line_color, title="MA 1", linewidth=center_line_width) | |
| zone_out = ta.sma(zone_src, ma_len) | |
| plot(zone_out, color=zone_color, title="MA 2", linewidth=zone_width) |
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