Running Average [EXPERIMENT]

Predicting the future has nothing to do with trading, understanding your indicator and knowing how to use it does.

Probably not the most efficient code, oh well..
Let me know if it's useful :)
Release Notes: UPDATE:
- Made it much more user friendly with options in the input tab

New Explanation:

Below you see 2 triangles on the chart. It takes the highest high and lowest low between current price and the triangles, the mid point will be the current moving average value.

The offset (prediction) is calculated by giving it 1 length less than the previous, and an offset 1 more than the previous. This offset should always be true until a new high or new low is made out of the range between the triangles.
Remove from Favorite Scripts Add to Favorite Scripts


This Moving Average is the same as you find in the Ichimoku Cloud known as Baseline or Kijun-Sen, all this does is predict the next likely move based on its calculation.
You can use this like any other moving average following the trend based on its color or for support and resistance.

How is this useful ?
This type of moving average is very good at following the current direction of the market, either up (yellow) or down (red), staying flat means it will follow its last known direction.
By knowing the calculation of your indicator you can often tell what it is going to do before it actually happened, so you can make a plan in advance.
By looking at the marker (triangles) with in this case a 60 bars look back period, you can tell if the current movement is based on new data or old data.
The plotted prediction is always based on old data, as you can not know new price data before it has happened. Meaning if price doesn't make a new highest or lowest point since the 60 bars back (marker) the next move can be calculated and you can make your trading plan based on that data.
Could you please add some description on how to interpret this indicator , thank you
EvoCrypto RameshAkula
@RameshAkula, Posted a comment above, I should add that this was just an experiment to try and plot the future, I will probably make an update with more functions and setting one day.
RameshAkula EvoCrypto
@EvoCrypto, great , thanks a lot 👍
@EvoCrypto , Can this indicator perform on low TF.... such as TF3 or TF15...?
@MrMama, Yes, but this is just an explanation and highlights the calculation for the next likely move. This is the same moving average as you see in Ichimoku Cloud
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out