This plots the Hull Moving Average Turning Points and Concavity with the addition of colored segments representing concavity and turning points: maxima, minima and inflection. a fast way to determine the trend direction and possible reversals based on concavity of the trend
Dark Green: Concave Up but HMA decreasing. The 'mood' has changed and the declining trend of the HMA is slowing. Possible trend change to Uptrend soon Light Green: Concave up and HMA increasing. Price is increasing, and since the curve is still concave up, it is accelerating upward. Uptrend Orange: Concavity is now downward, and though price is still increasing, the rate has slowed, perhaps the mood has become less enthusiastic. Possible trend change to Downtrend soon Red: Concave down and HMA decreasing. Downtrend
Buy signals generated when Hull turns from Dark Green -> Light Green Sell signals generated when Hull turns from Orange -> Red
To best determine if this is a entry point or a trend reversal, it is recommended to use in conjunction with the QQEMoMoTV indicator
█ FEATURES
Calculations Calculates the concavity of the Hull Moving Average comparing the Hull concavity of the current bar to the previous bar and displays the concavity in the form of 4 different colors. Note: may cause repainting, so recommended to use with another indicator such as the QQEMoMoTV indicator to confirm signals. Calculates divergence between the calculated HMA and the actual price and displays this in the Divergence Label. Calculates the local minima, maxima and inflection points with the ability to display these as auto support/resistance lines.
Inputs You can use the script's inputs to configure: • Calculation Source (default HL2) • HMA Length (default 21) • Lookback (default 2) • Whether to show Auto Support/Resist Lines • Whether to show Buy/Sell Arrows • Whether to show Divergence Label • Whether to extend Local Auto Support/Resist Lines
Alerts Buy Signal alert based on HMA crossing above MA_Min/Hull Support, when Hull turns from Dark Green -> Light Green, Bullish Sell Signal alert based on HMA crossing below MA_Max/Hull Resistance, when Hull turns from Orange -> Red, Bearish
Experimental support for applying the indicator to higher time frames eg. charting the hourly MashumeHull indicator on 15 min chart. See the commented code to access this feature
█ CREDITS
Original Author: Seth Urion (Mashume) Feature upgrades and usage: Xiuying Converted to Tradingview by: Machdragon
Awesome work! May I ask, (I am still learning about Hull) why is the HMA length set to 21 as default? Is that standard or is length subjective? If it's subjective why did you choose 21? Thanks!
Magnum76
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Dragon, have you tested any methods to stop this from REpainting? I know you are aware of it, but would be an extra special/usefully accurate indicator if we could deter that attribute.
It's the last period I refer to (preiod before the current period). The buy or sell graphic arrow indicators can appear/disappear. I understand that of course on the CURRENT period, but even using "close", the last CLOSED PERIOD could still change in real time.
gorx1
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Good stuff mane, people usually forget about concavity and hyperskewness, dem trippin when they do that
luissm0915
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Good job, bro this repaints, or can be use for live trading?
machdragon
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@luissm0915, Yes, to best determine an entry point or a trend reversal, it is recommended to use with another indicator such as the QQEMoMoTV indicator to confirm signals
fipikcom
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@machdragon, How can i confirm signals via both indicators ?
Hociemocie
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Love this, can you please explain the divergence tags a bit - coloring & the numerics? thanks!
utacho
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Hey Bro, I just came across from ToS, is there a way to update the signal into strategy so to check the P/L on TradingView, THanks ^ ^
phlpd
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This is a great indicator, despite the fact that the Buy/Sell signals can reprint prior to candle close. I really like how the hull moving average here will change color leading into a trend change, so you know to watch that candle closely. I've had some great trades off this indicator when I buy/sell the first candle new high after the hull MA warns of a potential change in trend.