This script applies John Ehlers' Hamming Moving Average (HMA) to smooth price data and detects trends with color-coded visualizations. It also generates alerts for significant trend changes.
How to Use: 1. Monitor the bar/candle colors to identify trends and their strength:
Strong green → Robust uptrend
Strong red → Robust downtrend
2. Use the plotted HMA line as confirmation for trend direction. 3. Watch for alerts signaling significant trend shifts:
Crossover above 1 → Strong Buy
Crossunder below -1 → Strong Sell
4. Adjust the Length and Pedestal inputs to fine-tune the indicator's sensitivity for shorter or longer-term strategies.