The updated Pine Script, "Planetary Tunings Moving Averages," incorporates an additional moving average (MA) to account for Bode's Law. This law is a mathematical relationship that predicts the approximate distances of planets from the Sun based on a simple formula.
The script begins by converting the decimal values of the planetary tunings into integers. Each integer value serves as the length parameter for a Simple Moving Average (SMA) calculation. The SMA function computes the average of the closing prices over the specified periods, resulting in moving average lines for each planet.
In addition to the individual planetary tuning moving averages, the script now includes a moving average that represents Bode's Law. The length of this moving average is determined by summing the values of all the planetary tunings and dividing the sum by the number of planets. This average length is then used as the parameter for the SMA function, generating the Bode's Law moving average line.
To enhance visual clarity and facilitate interpretation, each moving average line is assigned a specific color corresponding to the respective planet. For example, the moving average line for Mercury is blue, Venus is orange, Earth is teal, and so forth. The color scheme can be customized within the Pine Script code to suit personal preferences.
Additionally, the script calculates the mean of all the planetary tuning moving averages, including the Bode's Law moving average. This mean moving average provides an overall trend line, summarizing the collective behavior of the planetary tunings and Bode's Law.
The chart may also display Fibonacci channels and Fibonacci circles, which are visual tools used to capture liquidity over time. These graphical elements can help identify potential support and resistance levels in the market.
It's important to note that this script is written for Pine Script Version 4. To ensure compatibility, please verify that your TradingView platform supports this version. If you encounter any difficulties or require further clarification, referring to TradingView's Pine Script documentation or engaging with the community forums would be beneficial.