Hyper Frame Fibo MA Ribbons

10 thg 9, 2020

Introduction
Moving averages are an integral part of the TA world. There are different types of moving averages and each person uses them depending on their strategy and market conditions.
Meanwhile, the main variable in calculating the averages is their LENGTH. This value is optional, but not every value is applicable.

After much experience in the world of financial markets, I came to the conclusion that although the most popular length values are 20, 50, 100, and 200, the Fibonacci number come with surprising results.


Description
The following script calculates seven averages with the length of Fibonacci numbers (34, 55, 89, 144, 233, 377 and 610) with the formula of your choice (SMA, EMA, WMA, HMA) and shows that we named it FiboMa.

You can also have Bollinger Bands with the desired frame at the same time.

This is not the whole story...
You can see the same values ​​from smaller or larger frames at the same time!
We named this feature Hyper Frame Vision.

It is possible to display values ​​for FiboMa up to three hyper frames (with the main frame a total of 4 levels) and in the Bollinger Bands one hyper frame (with the main frame a total of 2 levels).

By default, the display of FiboMa hyper frame values ​​is limited to the last 10 bars, which you can change to an arbitrary value by changing the source code.
The display of hyper frame values ​​is not limited for Bollinger Band.


What is its use? What is it good for?

• Support and Resistance

Using dynamic support / resistance is much smarter than static! This protects you from the risk of many fake breaks, and your profit and loss limits will be more flexible and more efficient.

The intersection of FiboMa ribbons are potential points of support / resistance.

We use colors to easily identify supports / resistances.
Any average lower than the price is assumed as support and displayed in green, and any average above the price is assumed as resistance so displayed in red.
So the color of the averages is dynamic.
The color of FiboMa is a range from red to green. Whatever colors get saturated, the lenght is longer and the more power it has as support / resistance.

• Volatility

With this script, you also have the ability to monitor the amount of market volatility! The combination of Bollinger Bands and FiboMa provides a clear view of the market volatility.
The decrease and compression of the FiboMa width is a sign of a decrease in volatility and vice versa.

• Trend

I don't see the need for additional explanation, only whenever the price is higher than the middle band, the BB cloud is green, and whenever it is lower, is red.
The wider FiboMa means the stronger trend.



How to use
In the script settings you have the ability to enable or disable anything except.

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Similar scripts have been published before and we were inspired by them and tried to improve idea and code uniqe one.
I hope it will be useful .. Support us with your likes and comments .. We have anothers great script .. Just started.

13 thg 3, 2021

Phát hành các Ghi chú

Major update

Unnecessary parts removed for more simplicity and cleanliness
Code structure have big improvments for faster performance and syncing with latest pine updates

13 thg 3, 2021

Phát hành các Ghi chú

Major Update
Now, you can use many different type of MAs and Source Prices
New MA types:

• ALMA, DEMA, EHMA, JMA, RMA, SMMA, TEMA, THMA, TMA, TSF, VMA, VWMA, WWMA, ZLEMA

New Sources:

• hlcc4, hlccc5