Scripting Tutorial B - TManyMA - Commission/Fees

The Triple Many Moving Averages indicator provides a comprehensive framework for trend analysis and strategy backtesting using three customizable moving averages with integrated forecasting and visual ribbons.

Usage

The Usage section describes how the script can be used, focusing on its multi-MA approach and strategy integration.

Moving Average Analysis

Users can plot up to three distinct moving averages (MA1, MA2, MA3). Each MA can be configured with different types (SMA, EMA, WMA, RMA, HMA, VWMA, DEMA, TEMA), price sources, and time resolutions. This allows for multi-timeframe analysis on a single chart, such as viewing a 1-day SMA on a 15-minute chart.

Forecasting and Bias

The script includes a forecasting feature that projects the MA values five periods into the future. Users can apply a "Forecast Bias" (Bullish, Bearish, or Neutral) to simulate anticipated market directions based on ATR-derived magnitudes.

Strategy Backtesting

The tool functions as a strategy that enters long positions on MA crossovers and exits on crossunders. It is pre-configured with a 0.5% commission rate to simulate realistic trading fees (modeled after standard exchange fees). Users can toggle specific crossover pairs (e.g., MA 1-2, MA 1-3, or MA 2-3) to refine which signals trigger trades.

Visual Ribbons

Ribbons are automatically generated between MA1/MA2 and MA2/MA3 to visualize trend strength. These ribbons are dynamic and calculated based on intermediate periods between the primary MAs. Note: Ribbons only display when the compared MAs share the same type, source, and resolution.

Details

The script utilizes request.security to fetch data for different resolutions. For the MA calculations, it incorporates several types including Double EMA (DEMA) and Triple EMA (TEMA). The forecasting logic uses a simplified arithmetic continuation: it takes the current MA value, adjusts for the selected bias (if any), and projects the next five values. The strategy component is set to calc_on_every_tick=true for precise execution simulation and uses percentage-based equity for position sizing.

Settings

MA Configuration

• MA Period: Sets the lookback window for the respective moving average.
• MA Type: Selects the mathematical model (e.g., EMA, HMA).
• MA Source: Determines the price data used (e.g., Close, HL2).
• MA Resolution: Allows the MA to be calculated on a different timeframe than the current chart.
• MA Visible: Toggles the visibility of the specific MA.

Strategy & Visuals

• Show Crosses: Displays labels on the chart when MAs intersect.
• Forecast Bias: Adjusts the forecast projection direction (Neutral, Bullish, or Bearish).
• Forecast Bias Period: The ATR period used to calculate the bias magnitude.
• Show Forecasts: Toggles the five-step projected MA circles.
• Show Ribbons: Toggles the gradient fill between MAs.
• Trade MA Crosses: Boolean toggles to enable/disable trading signals for specific MA pairs.
• Take Profit / Stop Loss: Percentage-based thresholds for automated trade exits.

FAQ

How do I adjust the commission rates? The commission is currently hardcoded at 0.5% in the strategy properties to reflect standard fees. You can modify this by changing the commission_value in the strategy() function within the source code.

Why aren't the ribbons appearing on my chart? Ribbons require the two bounding Moving Averages to have identical Types, Sources, and Resolutions. Ensure these three settings match for MA1 and MA2 (or MA2 and MA3) for the ribbons to render.

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