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https://github.com/mihakralj/QuanTAlib.git
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Miha Kralj
35 lines
1.6 KiB
Plaintext
35 lines
1.6 KiB
Plaintext
// This Pine Script™ code is subject to the terms of the Mozilla Public License 2.0
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// https://mozilla.org/MPL/2.0/
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// © QuanTAlib
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//@version=6
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indicator("RWMA: Range Weighted Moving Average", shorttitle="RWMA", overlay=true)
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// @function Calculates the Range Weighted Moving Average.
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// Each bar's contribution is weighted by its range (high - low),
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// giving more influence to volatile bars and less to narrow-range bars.
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// RWMA = Σ(close[i] × range[i]) / Σ(range[i]) over the lookback period.
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// @param src Series to smooth (typically close).
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// @param high_src High price series.
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// @param low_src Low price series.
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// @param period Lookback window length. Must be > 0.
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// @returns The range-weighted moving average value.
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rwma(series float src, series float high_src, series float low_src, simple int period) =>
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float sumWV = 0.0
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float sumW = 0.0
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for i = 0 to period - 1
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float rng = high_src[i] - low_src[i]
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float w = math.max(rng, 0.0)
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sumWV += src[i] * w
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sumW += w
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sumW > 0.0 ? sumWV / sumW : src
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// ── Inputs ──────────────────────────────────────────────
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p = input.int(14, "Period", minval=1)
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// ── Calculation ─────────────────────────────────────────
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result = rwma(close, high, low, p)
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// ── Plot ────────────────────────────────────────────────
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plot(result, "RWMA", color=color.yellow, linewidth=2)
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