The Guppy Multiple Moving Average (GMMA) is a technical indicator that identifies changing trends, breakouts, and trading opportunities in the price of an asset by combining two sets of moving averages (MA) with different time periods. There is a short term group of MAs and a long term group of MAs.
This script incoporates GMMA as a mid-term levels which can indicates re-entry or entry signal. Short-term fast line and slow line are used to provide short term entries. Above GMMA, one can long and xlong, while under GMMA one can short or xshort.
a1~a7 ---> Guppy color band
fastline --> short term fast line
shortline --> slow term slow line
safeline --> bull bear boundary
Pros and Cons
1. easy observe price trend
2. it provides entry signal
3. it provides bull bear boundary
Your feedbacks are welcome
Courtesy of @LunaOwl " Rainbow Color Gradient" for GMMA color band in this script
In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts.
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