The smooth moving average (SMMA) is a technical analysis indicator that helps to smooth out price data by creating a constantly updated average of the data. This can be useful for identifying trends and making trading decisions.
The SMMA is calculated by taking the average of the closing prices over a specified period of time. The most common period used is 200 days, but other periods can be used as well. The SMMA is then plotted on a chart along with the price data.
In Pine Script, you can create a separate pane to display additional information or indicators below the main chart. This can be useful for comparing different data sets or for displaying information that would otherwise clutter the main chart.
To create a separate pane, you can use the `new_pane()` function. This function takes two arguments: the height of the new pane in pixels and the location of the new pane relative to the main chart. The location can be either `above` or `below`.
Merging Indicators in Pine Script
Pine Script is a powerful programming language designed specifically for technical analysis and trading strategy development within the TradingView platform. It allows traders and analysts to create and customize their own technical indicators and trading strategies using a wide range of built-in functions and data analysis tools.
