[blackcat] L1 Trigger Variable Moving Average (TVMA)

TVMA is a special type of moving average that differs from the traditional usage of moving averages. TVMA is a lagging moving average, and the degree of lag is determined by the parameter "tvmaLength". When "tvmaLength" = 1, the TVMA line coincides completely with the data source curve without any lag. As the value of "tvmaLength" increases, the lagging effect of the moving average becomes more pronounced. Therefore, TVMA is a very unique type of moving average that aims to obtain lagging signals rather than leading signals.

The purpose of TVMA as a moving average is to provide crossover signals (golden cross and death cross) as reference signals for buying and selling decisions. This indicator is usually used in conjunction with other technical indicators to enhance the accuracy of trading signals. The lagging characteristic of TVMA allows it to generate better trading signals during major trend developments and helps traders avoid being influenced by short-term fluctuations. However, during periods of intense market volatility, this lagging feature may cause delayed signals and result in missed opportunities for good buy or sell points.

Therefore, when using TVMA for trading purposes, it's important to adjust parameters in order to obtain better lagging moving average signals. Additionally, combining other technical indicators and analyzing market trends can also improve the accuracy of trading signals generated by TVMA.

The script defines an indicator called "[blackcat] L1 Trigger Variable Moving Average (TVMA)" using the indicator() function. It also defines a function called tvma() that calculates the TVMA (Trigger Variable Moving Average) based on a given source, length, and alpha value.

The main logic of the script involves calculating the TVMA value using the tvma() function with user-defined inputs. The source data for calculation is taken from the closing price (close). The length of TVMA and its alpha value are also defined by user inputs.

Finally, the calculated TVMA values are plotted on the chart using the plot() function with specified color and title.