OPEN-SOURCE SCRIPT
HLC MA One Line
HLC MA is a simple Moving Average which compares x period close and hlc3 averages and takes the greater one. So, it's a pretty fast Moving Average. It's also color coded. Green, white, and red used for up trend, possible correction or transition area and down trend, respectively. It's smoothed by using a simple method, color of the indicator only changes when its value higher or lower than its n period earlier value. By doing this, HLC MA manages to be fast and and less prone to false trend changes.
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.