LWMA w/ Color Change — Indicator by nboone

wma movingaverage color linear average indicator

Linear Weighted MA that changes colors based on slope.

Green = slope up from last bar
Yellow = slope is 0 from last bar
Red = slope down from last bar

This time with the ability to change the period.

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?

//@version=2
study("LWMA w/ Color Change V1.1", shorttitle="LWMA", overlay=true)

p = input(defval=35, title="Period", minval=1)

ma = wma(close, p)

c = ma[1] > ma[2] ? green : ma[1] < ma[2] ? red : yellow
    
plot(ma[1], color=c)