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. Minimal lag and smooth curves makeHMA extremely popular TA tool.
The script in question was developed to consolidate several variations of the Hull Moving Average (HMA) into a single, versatile indicator. Its primary aim is to offer traders and investors greater flexibility, ease of customisation, and intuitive visualisation of HMA-related data.
One of the key features of this script is the ability to choose from three different Hull Moving Average variations. Each variation has unique characteristics and sensitivity to price movements, allowing users to tailor their analysis to specific trading strategies or market conditions.
Furthermore, this script offers a choice between two visualisation modes: Bands or a single line. The "Bands" mode displays the upper and lower boundaries of the HMA, helping you identify potential overbought and oversold conditions, while the "single line" mode provides a simpler representation of the HMA's central trend.
A notable feature is the option to paint the Hull Moving Average and/or candlestick patterns based on the prevailing trend indicated by the HMA. This visual cue can be invaluable in quickly identifying trend changes and potential entry or exit points.
To enhance user convenience, the script includes a shortcut for adjusting line or band thickness. Instead of manually modifying each individual object on the chart, traders can make global adjustments directly from the script's input settings. This streamlines the customisation process, saving time and effort when fine-tuning the indicator's appearance to suit individual preferences.
In summary, this script simplifies the use of Hull Moving Averages by consolidating multiple variations, offering flexible customisation, and providing intuitive visualisation options. Traders can select from different HMA types, choose their preferred display mode, apply trend-based colouring, and adjust line or band thickness with ease, all contributing to a more efficient and user-friendly trading experience.