HPotter

Bill Williams Averages SMMA

This indicator calculates 3 Smoothed moving average for default values of
13, 8 and 5 days, with displacement 8, 5 and 3 days.
The most popular method of interpreting a moving average is to compare
the relationship between a moving average of the security's price with
the security's price itself (or between several moving averages).

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?
////////////////////////////////////////////////////////////
//  Copyright by HPotter v2.0 24/09/2014
// This indicator calculates 3 Smoothed moving average for default values of
// 13, 8 and 5 days, with displacement 8, 5 and 3 days: Median Price (High+Low/2).
// The most popular method of interpreting a moving average is to compare 
// the relationship between a moving average of the security's price with 
// the security's price itself (or between several moving averages).
////////////////////////////////////////////////////////////

study(title="Bill Williams Averages. 3Lines", shorttitle="3 Lines", overlay = true)
LLength = input(13, minval=1)
MLength = input(8,minval=1)
SLength = input(5,minval=1)
LOffset = input(8,minval=1)
MOffset = input(5,minval=1)
SOffset = input(3,minval=1)
SUM1 = sum(close, LLength)
SMMA1 = SUM1/LLength
PREVSUM1 = SMMA1[1] * LLength
SMMAL = (PREVSUM1-nz(SMMAL[1])+close)/LLength
SUM2 = sum(close, MLength)
SMMA2 = SUM2/MLength
PREVSUM2 = SMMA2[1] * MLength
SMMAM = (PREVSUM2-nz(SMMAM[1])+close)/MLength
SUM3 = sum(close, SLength)
SMMA3 = SUM3/SLength
PREVSUM3 = SMMA3[1] * SLength
SMMAS = (PREVSUM3-nz(SMMAS[1])+close)/SLength
plot(SMMAL[LOffset], color=blue, title="SMMA L")
plot(SMMAM[MOffset], color=red, title="SMMA M")
plot(SMMAS[SOffset], color=green, title="SMMA S")