predictive_moving_average

Description:
Originated by John F. Ehlers, could be found within (Rocket Science for Traders, pg. 212). Aim to provide a leading indicator (I assumed for the shorter time period), which smoothed the price with no lag. The indicator derives from 2 lines crossing i.e. a weighted moving average, of higher length as a predictor and shorter length as a trigger.

Predictive Moving Average:
predict = 2*wma1 - wma2
trigger = (4*predict+3*predict[1]+2*predict[2]+predict)/10

Feature:

Predictive moving average
Deviation band

Notes

Consider the support/resistance (dynamic) when entering the position
Some short direction change might be identified from deviation shrink
Green indicates to enter/long, while red indicates to close/short position

เอกสารเผยแพร่

Predictive Moving Average:
predict = 2*wma1 - wma2
trigger = (4*predict+3*predict[1]+2*predict[2]+predict)/10

เอกสารเผยแพร่

changed to overlay, with a slight adjustment in the color condition

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update on additional options of band/envelope and bar-color

example:

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update on close alert

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In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

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