Adjustable MA

Adjustable MA, is a responsive moving average (Similar to HMA) with the added advantage of user-controlled lag settings. The indicator also offers higher and lower extremes channel, acting as potential reversal zones – marking oversold and overbought areas.

Key Features:

1. Customizable Moving Average: Tailor the moving average with adjustable parameters. Define the length/look back, control lag/width with alpha, and regulate overshoot/height with beta. Higher alpha smoothens and broadens the MA, increasing lag, while higher beta reduces lag by elevating the curve's height.

2. Extremes Channels: Derived from the MA, these channels indicate potential oversold and overbought territories, enhancing trend analysis.

3. Smoothed Candlestick: Transform the MA into smoothed candles, akin to heikin-ashi candles, offering a unique visualization.

CAUTION: The candlesticks feature only works on "Time-based Candlesticks", not Tick, Range, Volume, Renko, etc.