The CoffeeShopCrypto 3pl MA indicator is a technical analysis tool that uses three different moving averages to identify trends in the price of an asset. The three moving averages have lengths of 12, 26, and 50. If these numbers sound familiar its because they are based off the standard of the MACD indicator, and can be either simple moving averages (SMA) or exponential moving averages (EMA), depending on user preference.
The following is plotted on the chart The fast EMA/SMA (based on the 12-period length) in yellow. The mid EMA/SMA (based on the 26-period length) in gray. The slow EMA/SMA (based on the 50-period length) in either green or red, depending on whether the current close price is above or below the Overall Trend MA.
In addition to the moving averages, the indicator also calculates the MACD (Moving Average Convergence Divergence), and uses it to color the bars based on the momentum of the asset. The MACD is calculated using two user-defined lengths (fast and slow), as well as a user-defined smoothing length for the signal line. The oscillator and signal line can be either SMA or EMA, and the colors of the MACD bars are based on whether the histogram is growing or falling, and whether it is above or below the zero line.
Overall, this indicator provides traders with a comprehensive tool for understanding the trend of an asset, as well as the momentum behind that trend. The moving averages provide a clear visual representation of the trend, while the MACD bars give insight into the strength of that trend and potential shifts in momentum.
---------------LONG ENTRY---------------- MA1 above MA2 and Overall trend = Green IF RSI is above its midline you are confirmed for a long entry
-----------Short Entry-------------- MA1 below MA2 and Overall trend = Red IF RSI is below its midline you are confirmed for a short entry
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1. Removed unneeded inputs for MACD settings. 2. Removed unneeded color settings for MACD line and Signal line as they will not be plotted. 3. Made the code lighter for your charts.
~~~~~~You're Welcome~~~~~
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realized it would be great to have two overall MAs on your chart so a secondary overall trend EMA was added.
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Correction to the TITLE of the Super Slow EMA. Sorry guys. I had a Typo
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Added a 3rd moving average for better judgement of price action
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Adjusted Moving Average Automatic Colors: All moving averages will only color bullish bearish according to their actual movement to give you a better visualization of the slow, mid, and fast trend. When all MAs are the same color, all trends are moving in the same direction. As an example: If youre overall trend (Slow MA) is bullish color while either of the other two Moving Averages are opposing colors, are have lost either the fast or the mid term trend.
Hey Eric. Love the 3ple MA. is it possible to add a trend change candle color. thanks appreciate your hard work.
CoffeeshopCrypto
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@drethadesigner, not sure what you mean by a trend channel "candle color' you mean a channel or cloud which is the same color as the histogram bars? if so i already did that. it loos REALLY ugly But it sounds like you are using this one its own. STOP You need to use this with the RSI or ADX. Im putting together a video tonight
ThaUberTrader
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@CoffeeshopCrypto, like a warning/neutral candle color. indicating the trend might change.
CoffeeshopCrypto
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@DreThaTrader, the bars are already colored for that. its the same colors as the MACD oscillator. Red, light red green, light green
since this is also based on my 10 / 28 moving average strategy, you would follow the same rules to notice an end of trend' but again, a single indicator isnt going to tell you that. you need to use this in conjuntion with your other indicator
ThaUberTrader
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@CoffeeshopCrypto, ok kool. just a thought. keep up the good coding. thanks
matbar42
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@CoffeeshopCrypto, yeiiiiiiinew video tonight! when livestream again?
cjg1977
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Great work Eric. Seems very helpful.
CoffeeshopCrypto
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@cjg1977, Thanks itll be more helpful once i put the video together
inditech1
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Literally saved my trading career!
CoffeeshopCrypto
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@inditech1, do tell us how you mean this!!! Its kind of exciting to hear it