I would like to introduce you my new script that is based on amazing script Ultimate Moving Average from @cheatcountry and @RedKTrader so shout out to them
The idea is the same like in my other S/R script to look for areas of potencial reversals
You can either use it as moving average as cheatcountry intended or you can add S/R lines. If you want to look at more detailed, please visit cheatcountry's script where explains idea behind his moving average.
Thank you and I hope you will enjoy it.
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.
It looks like the MA needs and extended flat period (gray line) to generate the S/R, as well. So make sure your MA settings aren't too smooth.