Has anyone been able to code the Arnaud Legoux moving average (ALMA) in Thinkscript? I find this one appealing because its based on normal distribution. From what I can tell, when compared to other moving averages, it gives the best speed, with the best smoothness, and does it objectively (similar to splines). It's very similar to the Hull moving average, but does not have the overshoot (errby jeffro72 - Trading Discussion
The only drawback I see with this overall idea, is that it gets you into trades a bit on the late side, so there is a higher chance of the trend losing steam by the time you get in, which means less profits and potentially a loss due to slippage. Here is the code for a custom "drive" indicator I created that can assist in letting you know if a trend is losing steam or not. It has 3 seby jeffro72 - Trading Discussion
It's not designed for the main chart screen, so it will look quite weird when applied to that. It's for use in the watchlist to the left. Let me know if you need some screen shots.by jeffro72 - Trading Discussion
I've been watching this post for a month or two. I haven't traded using this idea, but did develop some thinkscript based on it, if anyone is up for trying it out. It's the same moving averages idea, but a bit more detailed and includes SMI at various scales as well for a bit more accuracy (hopefully). I have mine setup for 1 min, 5 min, and 10 min scales (currently testing it for day tradinby jeffro72 - Trading Discussion