OPEN-SOURCE SCRIPT

Moving Average Reversals [QuantVue]

Moving Average Reversals [AlgoBuddy]

Description:

The Moving Average Reversals indicator gives a quick visual representation of when a stock gets extended up or down from a user selected moving average.

The color of the histogram dynamically changes as price becomes extended or within it’s normal trading range.

The indicator also highlights the largest extensions over the past year or 252 bars if using intraday.

Lastly a simple moving average of the extensions is calculated and used to confirm a change of character.

Settings:

🔹Use different MA types - EMA, SMA, HMA, WMA, VWMA
🔹Adjustable MA length
🔹Change distance measurement source - open, close, high, low, hl2, hlc3, ohlc4, hlcc4
🔹Extension highlighting
🔹Toggle MA extensions

Don't hesitate to reach out with any questions or concerns. We hope you enjoy!

Cheers.