Mov Avg Triangular (Indicator)Analysis Techniques & Strategies
Mov Avg Triangular (Indicator)
| Name | Expression | Default | Description |
| Price | Numeric | Close | Value to be used in calculating the moving average. |
| Length | Numeric | 9 | Number of bars to include in the calculation. |
| Displace | Numeric | 0 | Number of bars to displace the plot of the moving average. |
The Mov Avg Triangular indicator calculates a simple arithmetic average of prices, specified by the input Price. It then calculates and plots a simple arithmetic average of this average. The length of each of these averages is one more than half the value specified in the input Length, rounded to a whole number. This uses all the price data from the most recent number of bars specified by the input Length, but with the smoothing effect of "averaging the average".
A moving average is generally used for trend identification. Attention is given to the direction in which the average is moving and to the relative position of prices and the moving average. Rising moving average values (direction) and prices above the moving average (position) would indicate an uptrend. Declining moving average values and prices below the moving average would indicate a downtrend. A displaced moving average plots the moving average value of a previous bar or later bar on the current bar.
This indicator is NOT displaced by default. Changing the input Displace to positive number displaces the plot to the left. Changing the input Displace to a negative number displaces the plot to the right.
| Number | Name | Default Color | Description |
| Plot1 | AvgTri | Yellow | Plots the triangular moving average value. |
When applied to a chart, this indicator displays one plot in the same subgraph as the price data.
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