jma + dwma macd

This MACD system was originally conceptualized by Jurik Research and made public to the world on their website.

The indicator consists of the faster Jurik Moving Average ( JMA ) and the slower Double Weighted Moving Average (DWMA). A long signal (green dot at the bottom) is shown when the JMA line crosses above the DWMA line (indicating a possible reversal in trend). A short signal (red dot at the top) is shown when the JMA line crosses below the DWMA line. Take profit signals (tan dot at the top/bottom) are shown when the JMA line reverses directions. Alerts for signals are included in this indicator.

The default settings are not optimized for any timeframe.

For an overlay version of this script, please see the following:

Credit to everget for the re-creation of the Jurik Moving Average in pinescript.