OPEN-SOURCE SCRIPT
Candle Color Based on 12 month SMA
This indicator is designed to be used on a 1M (monthly) chart. It:
• Calculates the 12-month Simple Moving Average (SMA).
• Colors candles green if the monthly close is above the SMA.
• Colors candles red if the monthly close is below the SMA.
• Plots the 12-month SMA as a cyan stair-step line for clear visual tracking.
• Calculates the 12-month Simple Moving Average (SMA).
• Colors candles green if the monthly close is above the SMA.
• Colors candles red if the monthly close is below the SMA.
• Plots the 12-month SMA as a cyan stair-step line for clear visual tracking.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.