Hey fellow traders! I'm excited to share my very first indicator with you all. I believe it might just come in handy for some of you out there.
The idea behind this tool is pretty straightforward: it allows you to see the moving average (MA) direction across various timeframes without the hassle of opening multiple charts. No more squinting at different screens and trying to compare data visually!
With this indicator, you can selectively turn on or off the indications for different timeframes. It’s designed to be intuitive—just remember this logic: (1 - include in calculation, 0 - exclude). Here’s how I’ve set it up:
- M1 = 0
- M5 = 1
- M15 = 0
- M30 = 0
- H1 = 1
- H4 = 1
- D1 = 1
Now, you can also specify the averaging period for each timeframe. Here’s what I’ve got:
- M1_per = 20
- M5_per = 5
- M15_per = 12
- M30_per = 8
- H1_per = 10
- H4_per = 3
- D1_per = 5
As for the smoothing method and price type, you’ll set one for all MAs. Here’s the setup I used:
- Method = 3 (0 - SMA, 1 - EMA, 2 - SSMA, 3 - LWMA)
- Price = 5 (0 - close, 1 - open, ..., 5 - typical, 6 - weighted)
On a side note, I’ve seen my demo account grow from £18,000 to £31,000 in just three days! I opened positions manually whenever a snippet of color popped up and closed them based on my intuition. It’s been quite the ride!
Give it a try, and let me know how it works for you!
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