OPEN-SOURCE SCRIPT
[blackcat] L1 Joe Sharp More Responsive Moving Average (MMA)
Level: 1
Background
Joe Sharp propsed a "More Responsive Moving Averages (MMA)" in Jan, 2000. He describes a modified moving average that greatly diminishes the lag that is typically associated with moving averages. With the formula described in the article, the moving average line is more responsive to changes in the price action.
Function
An MMA indicator to plot the modified moving average is created in this script for application on a chart with fastline and slowline to produce golden crosses and dead crosses. In the pine script below, the calculation for the modified moving average is created in a function called ModifiedMA. This function basically takes care of all the necessary calculations for the modified moving average line. By putting the entire calculation into a function, the modified moving average calculation can be easily referenced by any analysis technique.
Key Signal
ModifiedMA (Price, FastLength) --> ModifiedMA Fast Line.
ModifiedMA (Price, SlowLength) --> ModifiedMA Slow Line.
Remarks
This is a Level 1 free and open source indicator.
Feedbacks are appreciated.
Background
Joe Sharp propsed a "More Responsive Moving Averages (MMA)" in Jan, 2000. He describes a modified moving average that greatly diminishes the lag that is typically associated with moving averages. With the formula described in the article, the moving average line is more responsive to changes in the price action.
Function
An MMA indicator to plot the modified moving average is created in this script for application on a chart with fastline and slowline to produce golden crosses and dead crosses. In the pine script below, the calculation for the modified moving average is created in a function called ModifiedMA. This function basically takes care of all the necessary calculations for the modified moving average line. By putting the entire calculation into a function, the modified moving average calculation can be easily referenced by any analysis technique.
Key Signal
ModifiedMA (Price, FastLength) --> ModifiedMA Fast Line.
ModifiedMA (Price, SlowLength) --> ModifiedMA Slow Line.
Remarks
This is a Level 1 free and open source indicator.
Feedbacks are appreciated.
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