Trend Trading With Moving Averages (by ChartArt) — Indicator by ChartArt

trend movingaverage primo trending trendingup trendingdown ema wma simplemovingaverage

This indicator is measuring if three different moving average calculations (EMA,WMA,SMA) with the same period length are aligned in an uptrend. If this is the case then the bar is colored in green. If only one or two of the three moving averages signals an uptrend then the bar is colored in blue. This can mean that the trend is changing.

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This is the ChartArt optimized version. Original idea: Steve Primo's Robbery Indicator (PET-D).
coded by UCSgears:

Steve Primo's "Robbery" Indicator (PET-D)

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?

study(title="Trend Trading With Moving Averages (by ChartArt)", shorttitle="CA_-_Trend_MA", overlay=true)

// ChartArt's Optimized Steve Primo's Robbery Indicator
//
// Version 1.0
// Idea by ChartArt on June 18, 2015.
//
// This indicator is measuring if there are three
// different moving averages with the same period aligned
// in the same trend direction. If this is the case then
// the bar is colored in green. If only one or two of the
// three moving averages signals an uptrend then the
// bar is colored in blue. This can mean that
// the trend is changing.
//
// Original idea: Steve Primo's Robbery Indicator (PET-D)
// as published by UCSGears on Tradingview.
//
// List of my work: 
// https://www.tradingview.com/u/ChartArt/

MAlength = input(15, title="Length of Moving Averages")

petd = ema(close, MAlength)
petx = wma(close, MAlength)
pety = sma(close, MAlength)

up = (close > petd) and (close > petx) and (close > pety) ? green : (close > petd) or (close > petx) or (close > pety) ? blue : red

barcolor(up)