This is a simple indicator that plots the 24 & 9 EMAs.
It also highlights the potential bias of the market (bull or bear) based on if the 9 EMA is above or below the 24 EMA.
In addition there are signal crosses that you can use for alerts.
This indicator is best used to confirm a particular underlying bias on the 5m, 15M, 1HR, 4HR, and Daily timeframes.
It's important to note on lower timeframes that the bias can be counter trend bias of the overall larger momentum of the instrument you are trading.
For clarity this means that many retraces get going when the 9 crosses the 24. But ultimately the larger timeframe bias will continue after this counter trend retraces.
Combining this indicator with value channels and ATR is what I recommend.
Hi! GREAT script but seems to lag a bit too much. Any chance you could change the 24 days to 19 or 20?
carefulTruffle86586
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Best Analysis
miaomiao18
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Hi xkavalis, thanks for sharing this awesome indicator! Can you please make this indicator allowing user to change what EMA they wanna use, instead of defaulting only ema 24/9? Thanks