Another version of the “stair step” representation of price moving within percentage variation of the Triangular moving average to draw the steps.
I add another simple MA to act like a signal for trend following identification. When the 2 lines are flat, market is ranging.
I believe it can be easily take part of trend following strategy of all sort.
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//parameters : //percent = 1 (daily) //period = 100 (daily timeframe period of the triangular moving average //SignalPeriod = 30 once ssMA = close MA = TriangularAverage[period](close) if(MA > ssMA + (MA/100)*percent) THEN ssMA = MA ELSIF (MA < ssMA - (MA/100)*percent) THEN ssMA = MA ELSE ssMA = ssMA ENDIF signalLine = average[SignalPeriod](ssMA) RETURN ssMA coloured(21,188,206), signalLine |
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