The "Trendilo LSMA Example" indicator is a technical analysis tool that combines two moving averages, the Linear Regression Moving Average (LSMA) and the Hull Moving Average (HMA), to provide insights into market trends.
The indicator plots a line on the price chart, which represents the combined values of the LSMA and HMA. This line changes color based on the direction of the trend. When the line is green, it suggests an upward trend, indicating that prices may continue to rise. Conversely, when the line is red, it suggests a downward trend, indicating that prices may continue to fall. If the line is yellow, it suggests a neutral or sideways trend, indicating that prices may be moving within a range without a clear trend.
Traders can customize the indicator by adjusting the input parameters. The "LSMAlen" parameter determines the length of the LSMA, the "LSMA Offset" parameter sets the offset for the LSMA, and the "LSMA Smoother" parameter controls the smoothing factor. Additionally, the "HMAlen" parameter determines the length of the HMA.
By using the Trendilo LSMA Example indicator, traders can get a visual representation of the market trend and use it to make informed trading decisions. Green indicates a potential buying opportunity, red suggests a potential selling opportunity, and yellow suggests a period of uncertainty where it may be prudent to wait for a clearer trend signal.
Hello,Thank you for writing this indicator. I have been using for 2 weeks, simple, easy took, really like. :) Do you have a tutorial to look at the indicator in dept? A few questions, 1. White dotted line, separate Bull and Bears? 2.In RSI, consider over sold above 70 and under sold 20. Purple above and below are over and under sold? 2. Purple line move, it get large and narrow like bollinger bands. Is it same principle, how should I look at it? 3. Any guideline and instruction How I should look at the indicator would be good.
Looking forward to hear back from you.
regards,
Kavan
Thank you for writing this indicator. I have been using for 2 weeks, simple, easy took, really like. :) Do you have a tutorial to
Porphy
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I'm wondering why it's name is the "Trendilo ALMA" when it's a LSMA. Is there a reason for that? It would seem to be better to call it "Trendilo LSMA." Is there something I'm missing?
1. White dotted line, separate Bull and Bears?
2.In RSI, consider over sold above 70 and under sold 20. Purple above and below are over and under sold?
2. Purple line move, it get large and narrow like bollinger bands. Is it same principle, how should I look at it?
3. Any guideline and instruction How I should look at the indicator would be good.
Looking forward to hear back from you.
regards,
Kavan
Thank you for writing this indicator. I have been using for 2 weeks, simple, easy took, really like. :) Do you have a tutorial to