This indicator helps swing trader to quickly see if a stock or an index is in a short term up- or downtrend.
The 5 Day Moving Average line is shown on all intraday timeframes like 5, 10, 15, 30, 60, 65 and so on.
When an index like SPY or QQQ shows a green 5 DMA line, the index is in a short term uptrend and you can buy stocks for a swing trade,
when the line turns red be careful and stop buying stocks, instead watch out to short stocks.
In addition to the 5 DMA line you can show the percent distance to the 5 DMA and have multiple options to customize the indicator.
Features
■ Use SMA or EMA for the 5 DMA
■ Use different intraday timeframes or show on daily
■ Show the distance in percent
■ Different color modes
■ Multiple customize options
The 5 Day Moving Average line is shown on all intraday timeframes like 5, 10, 15, 30, 60, 65 and so on.
When an index like SPY or QQQ shows a green 5 DMA line, the index is in a short term uptrend and you can buy stocks for a swing trade,
when the line turns red be careful and stop buying stocks, instead watch out to short stocks.
In addition to the 5 DMA line you can show the percent distance to the 5 DMA and have multiple options to customize the indicator.
Features
■ Use SMA or EMA for the 5 DMA
■ Use different intraday timeframes or show on daily
■ Show the distance in percent
■ Different color modes
■ Multiple customize options
Versionsinformation:
Add option to show a background color when the 5 DMA is uptrending or downtrending.