Advanced GMMA indicator
10/14/2019 at 12:38 PM #110133
There is already a GMMA on ProReadCode however the version designed by Chris Moody on Tradingview https://www.tradingview.com/script/3rxOtFe0-CM-Guppy-EMA/ offers significant advantages,
- showing zones of congestion
- changes colour when trend changes are about to happen.
This way it differentiates itself from being just another ‘ribbon’ indicator.
The full code with screenshots is available on the link above. I’ve tried converting it in to Prorealcode but no joy.
I’m grateful if you can work on this conversion for us.
You must be logged in to access attached files.10/15/2019 at 11:07 AM #110207
Here is the converted code for ProRealTime. Please next time, add a screenshot to your post when you want a trading indicator to be converted.123456789101112131415161718192021222324252627282930313233343536373839404142434445464748495051525354555657585960616263646566676869707172src = customclose//fast EMAlen1 = 3len2 = 5len3 = 8len4 = 10len5 = 12len6 = 15//Slow EMAlen7 = 30len8 = 35len9 = 40len10 = 45len11 = 50len12 = 60//Fast EMAema1 = average[len1,1](src)ema2 = average[len2,1](src)ema3 = average[len3,1](src)ema4 = average[len4,1](src)ema5 = average[len5,1](src)ema6 = average[len6,1](src)//Slow EMAema7 = average[len7,1](src)ema8 = average[len8,1](src)ema9 = average[len9,1](src)ema10 = average[len10,1](src)ema11 = average[len11,1](src)ema12 = average[len12,1](src)//Fast EMA Color RulescolfastL = (ema1 > ema2 and ema2 > ema3 and ema3 > ema4 and ema4 > ema5 and ema5 > ema6)colfastS = (ema1 < ema2 and ema2 < ema3 and ema3 < ema4 and ema4 < ema5 and ema5 < ema6)//Slow EMA Color RulescolslowL = ema7 > ema8 and ema8 > ema9 and ema9 > ema10 and ema10 > ema11 and ema11 > ema12colslowS = ema7 < ema8 and ema8 < ema9 and ema9 < ema10 and ema10 < ema11 and ema11 < ema12//Fast EMA Final Color Rulesif colfastL and colslowL then//aquar=0g=255b=255elsif colfastS and colslowS then//oranger=255g=165b=0else // grayr=165g=165b=165endif//Slow EMA Final Color Rulesif colslowL then//limerl=0gl=255bl=0elsif colslowS then//redrl=255gl=0bl=0else // grayrl=165gl=165bl=165endifreturn ema1 coloured(r,g,b), ema2 coloured(r,g,b),ema3 coloured(r,g,b),ema4 coloured(r,g,b),ema5 coloured(r,g,b),ema6 coloured(r,g,b),ema7 coloured(rl,gl,bl),ema8 coloured(rl,gl,bl),ema9 coloured(rl,gl,bl),ema10 coloured(rl,gl,bl),ema11 coloured(rl,gl,bl),ema12 coloured(rl,gl,bl)
You must be logged in to access attached files.10/15/2019 at 12:32 PM #110234
Thank You Nicolas for coding this for us all.
Advanced Guppy RULES
1. If Fast and Slow EMA’s are ALL in Uptrend. Fast EMA=Aqua Slow EMA’s=Green.
2. If Fast And Slow EMA’s are ALL in DownTrend. Fast EMA’s=Orange Slow EMA’s=Red.
3. If Conditions 1 or 2 = False the Color=Silver.
4. If Down Trend Slow EMA’s = Resistance.
5. If Up Trend Slow EMA’s = Support.
6. Great Moves Start when Color=Silver, then colors change to Up or Down Trend.
7. Conservative move is to wait for 1st or 2nd Pullback.10/15/2019 at 1:41 PM #110242
Excellent job Nicholas. Thank you ever so much.
@GraHal, I see you’re into GMMA. This is fantastic. Daryl Guppy’s latest video is here https://youtu.be/kjfW2BaeldU as you may have seen.
I’m looking to use GMMA along Volume Weighted Moving Averages and the Vervoort. Who knows maybe one day there’ll be a super indicator that pulls all three together. 😄10/15/2019 at 2:13 PM #110246
I’m looking to use GMMA along Volume Weighted Moving Averages and the Vervoort.
You could substitute Nicolas exponential average for Volume Weighted Moving Averages as example below??12345Nicolasema1 = average[len1,1](src)Vol weightedema1 = average[len1,2](src)
What is Vervoort?? If it’s in the video … I’ll watch it later.10/15/2019 at 2:31 PM #11024910/15/2019 at 4:06 PM #11025610/15/2019 at 9:17 PM #110275
Few people are interested in the Vervoort (VV) anymore – it being a complex ‘leading’ indicator of trends using built in ATR calculations. https://uk.tradingview.com/scripts/vervoort/ Based on experience with it, I’m pretty sure if finds trend changes on various time frames. Combined with the GMMA it is advantageous. This is but one example https://www.tradingview.com/x/xr82zamc/ (further exploration required to appreciate the exploit).
Daryl Guppy’s use of the GMMA is a pretty complex strategy, having studied his book on it. The VV when used with GMMA simplifies entry positions for trend followers in finding start of new trends, and entry positions after trend in process.10/15/2019 at 10:50 PM #11028010/16/2019 at 12:44 AM #110306
do you have a Prorealtime script for the above mentioned Vervoort (VV) indicator?
Supertrend indicator – available on PRT, is pretty similar to VV in most ways, based on my experience Check it out. https://www.prorealcode.com/documentation/supertrend/
VV code is pretty complicated here https://uk.tradingview.com/script/kMtzYo7p-Average-True-Range-Trailing-Stops-Strategy/
I’ve done some backtesting with PRT on supertrend switches – so far so good. The challenge is to code following the supertrend. Not been successful so far.
In a bullish breakout north, the GMMA would show it up nicely. Best entry points after the breakout are where price pulls back onto near a flattening of the supertrend (or VV) and where the flattening sits just below the last set of investor GMMAs. But often times the breakout of the VV and the GMMA are powerful in one direction and RSIs just don’t matter. This was a rare beauty in June 2019 on Gold https://www.tradingview.com/x/EHB2NDVq/