Fancy Triple Moving Averages

The Fancy Triple Moving Averages indicator provides a versatile multi-line moving average system that combines multi-timeframe analysis, alternative candle types, and predictive forecasting to enhance trend identification.

Usage

The Usage section describes how the script can be used to analyze trends across different parameters. This tool allows users to plot three independent moving averages, each customizable by type, timeframe, and price source.

Users can utilize this script to compare trend directions across multiple timeframes simultaneously (e.g., viewing a 1D SMA on a 1H chart). The "Highlight Inclusion" feature helps traders visualize exactly which bars are currently contributing to the MA calculation, while the "Ghost Trail" provides a faded history of the indicator for context.

The forecasting feature allows users to project where a moving average might move in the next few bars based on current price action and a user-defined bias. This is particularly useful for anticipating potential crossovers or support/resistance shifts before they occur.

Details

The indicator is constructed to handle complex data requests through the request.security function, allowing it to fetch data from different resolutions and candle types like Heikin Ashi or Renko.

The forecast calculation is based on a weighted estimation: it takes the current moving average sum, subtracts the oldest value in the window, and replaces it with the current price (plus an optional bias) to estimate the next step in the sequence. The forecasting supports up to five steps ahead and includes a bias magnitude calculated using the Average True Range (ATR) to account for volatility.

Settings

Moving Average 1, 2, & 3

• Period: The number of bars used in the calculation.
• Type: Select from various algorithms including SMA, EMA, WMA, RMA, HMA, DEMA, TEMA, VWMA, KAMA, and ALMA.
• Source: The price data point used for calculation (e.g., close, open, hl2).
• Resolution: The timeframe from which the data is pulled.
• Candle Type: Allows the MA to be calculated based on alternative chart types like Heikin Ashi, Renko, or Point & Figure.
• Visible: Toggles the visibility of the specific moving average.

Visuals

• Highlight Inclusion: When active, only the segment of the MA corresponding to the current lookback period is highlighted.
• Show Inclusion Ghost Trail: Displays a faded version of the historical MA data when Highlight Inclusion is enabled.
• SuperTrend Visible: Toggles an optional SuperTrend plot for additional trend confirmation.

Forecast

• Forecast Bias: Sets the directional assumption for the forecast (Neutral, Bullish, or Bearish).
• Forecast Bias Period: The ATR period used to calculate the magnitude of the bias.
• Forecast Bias Magnitude: A multiplier for the bias calculation to increase or decrease the projected slope.
• Show Forecasts: Toggles the visibility of the projected future MA points.

FAQ

What types of moving averages are supported in this tool? The script supports ten different types, including standard Simple (SMA) and Exponential (EMA) averages, as well as more advanced options like Hull (HMA), Triple Exponential (TEMA), and Arnaud Legoux (ALMA) moving averages.

Can I use this to see daily trends while trading on a 5-minute chart? Yes, by adjusting the "Resolution" setting for any of the three moving averages, you can overlay higher timeframe trends onto your current lower timeframe chart.

How do I get access to the Fancy Triple Moving Averages indicator? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.