The guppy MMA oscillator is made of difference between 6 short term exponential moving average and 6 long term ones. Because of making the difference between 2 additions of moving average, it acts like a traditionnal MACD oscillator. Bullish signal occurs when the oscillator cross above the zero line and bearish signals when it crosses below this level.
I add an option to show oscillator as difference of price or as percentage.
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//parameters //n = 21 //percent = true (boolean) short1 = exponentialaverage[3](close) short2 = exponentialaverage[5](close) short3 = exponentialaverage[8](close) short4 = exponentialaverage[10](close) short5 = exponentialaverage[12](close) short6 = exponentialaverage[15](close) short = short1+short2+short3+short4+short5+short6 long1 = exponentialaverage[30](close) long2 = exponentialaverage[35](close) long3 = exponentialaverage[40](close) long4 = exponentialaverage[45](close) long5 = exponentialaverage[50](close) long6 = exponentialaverage[60](close) long = long1+long2+long3+long4+long5+long6 GMMACD = exponentialaverage[n](short-long) if (percent) THEN GMMACD = exponentialaverage[n](((short-long)/long)*100) ENDIF RETURN GMMACD as "Guppy MMA Oscillator" |
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One question Nicolas – what’s your rationale behind a 21 period?
There is no hidden truth behind a 21 period for this indicator. This a moving average period I used to have in different kind of strategies (trend following one on 1 hour chart as I remember), so that’s why I had it here in this prorealtime code.
I actually live up the road from Daryl Guppy. On the first day of my training i walked around to his house and picked up one of his trading manuals.
Hi, I’m trying to add the guppy indicator to my charts but i keep getting a box that’s says “Syntax error” any suggestions
Wrong copy/paste? Always a better idea to download the ITF file and import it into the platform, you’ll get no error this way.