I like single line indicators that change color when a trend changes, so this is my implementation of the KAMA with those attributes. The screenshot here is actually from TradeStation, but it looks and functions the same in MC.
Indicator Name: Mov Avg Adaptive Color Change
Inputs: Same as a normal KAMA, plus:- UsePlotColoring >>> set to true for coloring; false to turn it off
- UpTrendColor >>> self explanatory
- DownTrendColor >>> self explanatory
Small Difference in Original Calculation:
I added the Round2Fraction function to the MAA calculation, to round to the nearest minimum move for the chart. This helps filter out minor fluctuations when the indicator is practically flat, that may show a change in trend that isn't there. I don't believe this fundamentally changes anything, from my observations.
Import the PLA and apply to a chart. You're all set!
I posted a TradeStation version in that section, as the syntax is slightly different.
Category MultiCharts
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