Advanced GMMA indicator

• 10/14/2019 at 12:38 PM #110133
  Captain_Walker

  There is already a GMMA on ProReadCode however the version designed by Chris Moody on Tradingview https://www.tradingview.com/script/3rxOtFe0-CM-Guppy-EMA/  offers significant advantages,

  1. showing zones of congestion
  2. changes colour when trend changes are about to happen.

  This way it differentiates itself from being just another ‘ribbon’ indicator.

  The full code with screenshots is available on the link above. I’ve tried converting it in to Prorealcode but no joy.

  I’m grateful if you can work on this conversion for us.

  Many thanks.

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  GraHal

  

  Captain_Walker

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  10/15/2019 at 11:07 AM #110207
  Nicolas

  Here is the converted code for ProRealTime. Please next time, add a screenshot to your post when you want a trading indicator to be converted.

  src = customclose //fast EMA len1 = 3 len2 = 5 len3 = 8 len4 = 10 len5 = 12 len6 = 15 //Slow EMA len7 = 30 len8 = 35 len9 = 40 len10 = 45 len11 = 50 len12 = 60 //Fast EMA ema1 = average[len1,1](src) ema2 = average[len2,1](src) ema3 = average[len3,1](src) ema4 = average[len4,1](src) ema5 = average[len5,1](src) ema6 = average[len6,1](src) //Slow EMA ema7 = average[len7,1](src) ema8 = average[len8,1](src) ema9 = average[len9,1](src) ema10 = average[len10,1](src) ema11 = average[len11,1](src) ema12 = average[len12,1](src) //Fast EMA Color Rules colfastL = (ema1 > ema2 and ema2 > ema3 and ema3 > ema4 and ema4 > ema5 and ema5 > ema6) colfastS = (ema1 < ema2 and ema2 < ema3 and ema3 < ema4 and ema4 < ema5 and ema5 < ema6) //Slow EMA Color Rules colslowL = ema7 > ema8 and ema8 > ema9 and ema9 > ema10 and ema10 > ema11 and ema11 > ema12 colslowS = ema7 < ema8 and ema8 < ema9 and ema9 < ema10 and ema10 < ema11 and ema11 < ema12 //Fast EMA Final Color Rules if colfastL and colslowL then //aqua r=0 g=255 b=255 elsif colfastS and colslowS then //orange r=255 g=165 b=0 else // gray r=165 g=165 b=165 endif //Slow EMA Final Color Rules if colslowL then //lime rl=0 gl=255 bl=0 elsif colslowS then //red rl=255 gl=0 bl=0 else // gray rl=165 gl=165 bl=165 endif return ema1 coloured(r,g,b), ema2 coloured(r,g,b),ema3 coloured(r,g,b),ema4 coloured(r,g,b),ema5 coloured(r,g,b),ema6 coloured(r,g,b),ema7 coloured(rl,gl,bl),ema8 coloured(rl,gl,bl),ema9 coloured(rl,gl,bl),ema10 coloured(rl,gl,bl),ema11 coloured(rl,gl,bl),ema12 coloured(rl,gl,bl)

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72

  src = customclose //fast EMA len1 = 3 len2 = 5 len3 = 8 len4 = 10 len5 = 12 len6 = 15 //Slow EMA len7 = 30 len8 = 35 len9 = 40 len10 = 45 len11 = 50 len12 = 60   //Fast EMA ema1 = average[len1,1](src) ema2 = average[len2,1](src) ema3 = average[len3,1](src) ema4 = average[len4,1](src) ema5 = average[len5,1](src) ema6 = average[len6,1](src) //Slow EMA ema7 = average[len7,1](src) ema8 = average[len8,1](src) ema9 = average[len9,1](src) ema10 = average[len10,1](src) ema11 = average[len11,1](src) ema12 = average[len12,1](src)   //Fast EMA Color Rules colfastL = (ema1 > ema2 and ema2 > ema3 and ema3 > ema4 and ema4 > ema5 and ema5 > ema6) colfastS = (ema1 < ema2 and ema2 < ema3 and ema3 < ema4 and ema4 < ema5 and ema5 < ema6) //Slow EMA Color Rules colslowL = ema7 > ema8 and ema8 > ema9 and ema9 > ema10 and ema10 > ema11 and ema11 > ema12 colslowS = ema7 < ema8 and ema8 < ema9 and ema9 < ema10 and ema10 < ema11 and ema11 < ema12   //Fast EMA Final Color Rules if colfastL and colslowL then //aqua r=0 g=255 b=255 elsif  colfastS and colslowS then //orange r=255 g=165 b=0 else // gray r=165 g=165 b=165 endif //Slow EMA Final Color Rules if colslowL then //lime rl=0 gl=255 bl=0 elsif colslowS then //red rl=255 gl=0 bl=0 else // gray rl=165 gl=165 bl=165 endif   return ema1 coloured(r,g,b), ema2 coloured(r,g,b),ema3 coloured(r,g,b),ema4 coloured(r,g,b),ema5 coloured(r,g,b),ema6 coloured(r,g,b),ema7 coloured(rl,gl,bl),ema8 coloured(rl,gl,bl),ema9 coloured(rl,gl,bl),ema10 coloured(rl,gl,bl),ema11 coloured(rl,gl,bl),ema12 coloured(rl,gl,bl)

   

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  Nicolas

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  10/15/2019 at 12:32 PM #110234
  GraHal

  Thank You Nicolas for coding this for us all.

  Advanced Guppy RULES

  1. If Fast and Slow EMA’s are ALL in Uptrend. Fast EMA=Aqua Slow EMA’s=Green.

  2. If Fast And Slow EMA’s are ALL in DownTrend. Fast EMA’s=Orange Slow EMA’s=Red.

  3. If Conditions 1 or 2 = False the Color=Silver.

  4. If Down Trend Slow EMA’s = Resistance.

  5. If Up Trend Slow EMA’s = Support.

  6. Great Moves Start when Color=Silver, then colors change to Up or Down Trend.

  7. Conservative move is to wait for 1st or 2nd Pullback.

  

  GraHal

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  10/15/2019 at 1:41 PM #110242
  Captain_Walker

  Excellent job Nicholas. Thank you ever so much.

  @GraHal, I see you’re into GMMA. This is fantastic. Daryl Guppy’s latest video is here https://youtu.be/kjfW2BaeldU as you may have seen.

  I’m looking to use GMMA along Volume Weighted Moving Averages and the Vervoort. Who knows maybe one day there’ll be a super indicator that pulls all three together. 😄

  

  Captain_Walker

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  10/15/2019 at 2:13 PM #110246
  GraHal

  Captain_Walker wrote:

  I’m looking to use GMMA along Volume Weighted Moving Averages and the Vervoort.

  You could substitute Nicolas exponential average for  Volume Weighted Moving Averages as example below??

  Nicolas ema1 = average[len1,1](src) Vol weighted ema1 = average[len1,2](src)

  1 2 3 4 5

  Nicolas ema1 = average[len1,1](src)   Vol weighted ema1 = average[len1,2](src)

  What is Vervoort??  If it’s in the video … I’ll watch it later.

   

  

  GraHal

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  10/15/2019 at 2:31 PM #110249
  Nicolas

  How to build a business with an arithmetic average 🙂

  

  Nicolas

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  10/15/2019 at 4:06 PM #110256
  robertogozzi

  Average type 2 is WEIGHTED MOVING AVERAGE, not VOLUME WEIGHTED MOVING AVERAGE (which is also WVAP).

   

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  robertogozzi

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  10/15/2019 at 9:17 PM #110275
  Captain_Walker

  Few people are interested in the Vervoort (VV) anymore – it being a complex ‘leading’ indicator of trends using built in ATR calculations. https://uk.tradingview.com/scripts/vervoort/  Based on experience with it, I’m pretty sure if finds trend changes on various time frames. Combined with the GMMA it is advantageous. This is but one example https://www.tradingview.com/x/xr82zamc/ (further exploration required to appreciate the exploit).

  Daryl Guppy’s use of the GMMA is a pretty complex strategy, having studied his book on it. The VV when used with GMMA simplifies entry positions for trend followers in finding start of new trends, and entry positions after trend in process.

   

   

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  Captain_Walker

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  10/15/2019 at 10:50 PM #110280
  Loop

  Hi All,

  do you have a Prorealtime script for the above mentioned Vervoort (VV) indicator?

  Thanks

  Marco

   

   

  

  Loop

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  10/16/2019 at 12:44 AM #110306
  Captain_Walker

  Loop wrote:

  do you have a Prorealtime script for the above mentioned Vervoort (VV) indicator?

  Supertrend indicator – available on PRT, is pretty similar to VV in most ways, based on my experience Check it out. https://www.prorealcode.com/documentation/supertrend/

  VV code is pretty complicated here https://uk.tradingview.com/script/kMtzYo7p-Average-True-Range-Trailing-Stops-Strategy/

  I’ve done some backtesting with PRT on supertrend switches – so far so good. The challenge is to code following the supertrend. Not been successful so far.

  In a bullish breakout north, the GMMA would show it up nicely. Best entry points after the breakout are where price pulls back onto near a flattening of the supertrend (or VV) and where the flattening sits just below the last set of investor GMMAs. But often times the breakout of the VV and the GMMA are powerful in one direction and RSIs just don’t matter. This was a rare beauty in June 2019 on Gold https://www.tradingview.com/x/EHB2NDVq/

  

  Captain_Walker

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  08/15/2022 at 9:57 AM #199075
  JeanSebastien

  I do not know how reliable/profitable it is trading with this (like all indicators). But for sure I am learning a lot in coding; thanks Nicolas for your maestria !!

  

  JeanSebastien

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