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Unlocking the Power of MA Ribbons for Smoother Trends
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Unlocking the Power of MA Ribbons for Smoother Trends
Last updated
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is a powerful Moving Averages (MA) indicator developed by Insilico Research that brings together multiple moving averages on a single chart. MAs have different time period, short term and long-term, when plotted together they create a ribbon-like structure right on your chart.
This is a feature within the script that attempts to predict/forecast the direction of the next candle (ex: whether it will be bullish or bearish) based on the moving average.
Cold Lego smooths out price data to to identify trends more clearly.
Signals given by the indicator will provide you with suggestions on whether to consider buying or selling an asset based on the forecasted direction of the next candle.
Cold Lego allows you to experiment with different settings or variations of the MA and visualise them through colour changes on the chart.
Colouring experimentation helps you visually identify key points or trends in the data.
This feature allows your to change the colour of the MA line based on certain conditions or criteria. Ex: the MA line changes colour when it crosses above or below a certain threshold, or changes colour to indicate overbought or oversold conditions
