User Selectable Moving Average Guppy

The User Selectable Moving Average Guppy indicator provides a highly customizable implementation of the classic Guppy Multiple Moving Average (GMMA) ribbon, allowing users to select unique types, periods, and sources for every individual line to identify trend strength and reversals.

Usage

The Usage section describes how the script can be used to identify market trends. The indicator functions by plotting two distinct groups of moving averages: a "fast" group (representing short-term sentiment) and a "slow" group (representing long-term trend). Traders typically look for the expansion or contraction of these ribbons to gauge momentum.

• Trend Identification: When the short-term ribbon is above the long-term ribbon and both are expanding, it indicates a strong bullish trend. Conversely, a short-term ribbon below the long-term ribbon indicates a bearish trend.
• Reversals: Crossovers between the short-term and long-term groups can signal potential trend reversals.
• Macro Analysis: Two key higher-timeframe MAs (MA #22 and MA #23) are included to assess the macro trend, complete with optional labels and alerts for crossovers.
• Visual Customization: Users can enable a gradient fill between the macro moving averages to visualize trend intensity.

Details

The script is built to overcome the limitations of traditional Guppy indicators, which often restrict users to simple or exponential moving averages. By default, this tool utilizes the Hull Moving Average (HMA) to reduce lag while maintaining smoothness.

The indicator integrates the "Color Gradient Framework" by LucF (PineCoders) to generate dynamic visual gradients based on the distance between key moving averages. It supports 11 different moving average types, ranging from standard calculations to advanced regression-based models:

• Lag-Reduced Options: HMA, EHMA, and TEMA for faster response to price action.
• Statistical/Advanced Options: LSMA (Linear Regression), ALMA (Gaussian distribution), and Tillson T3.
• Volume-Weighted Options: VWMA for price action weighted by trading activity.

Settings

General Calculation Settings

• LSMA Offset: Adjusts the offset for the Least Squares Moving Average calculation.
• ALMA Offset/Sigma: Controls the Gaussian distribution and smoothness of the Arnaud Legoux Moving Average.
• Tillson T3 Volume Factor: Sets the damping factor for T3 calculation.

Visuals & Gradient

• Lower/Higher TF Colors: Customizes the bull/bear colors for the short-term and long-term ribbons.
• Fill HTF Gradient: Enables a color fill between the two macro moving averages.
• Gradient Intensity/Constant: Controls how quickly the fill color reaches maximum transparency or saturation.

Moving Average Configuration

• MA №1 - №21: Individual toggles for 21 different moving averages. Each allows for a specific selection of:
  • Type: Choose from SMA, EMA, SMMA, WMA, VWMA, HMA, EHMA, TEMA, ALMA, T3, or LSMA.
  • Source: The price data used (Close, Open, HL2, etc.).
  • Length: The lookback period for the calculation.
• MA №22 - №23: Dedicated settings for the two "Key" higher-timeframe moving averages used for macro signals and gradient fills.

FAQ

How do I change the speed of the ribbon response? You can change the "Type" of moving average to HMA or TEMA for a faster response, or increase the "Length" settings to make the ribbon react more slowly to price changes.

Can I set alerts for trend changes? Yes, the indicator supports alerts specifically for the crossover of the two key higher-timeframe moving averages (MA #22 and MA #23).

How do I access the User Selectable Moving Average Guppy? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.