Script to plot common daily/alternative timeframe moving averages on when viewing securities at other resolutions.
There's lots of different MA scripts out there, but I couldn't find one that just represented the standard support/resistance indicators that were typical for my markets. So, this is the DIY. :)
The today script is an upgrade on steroids of my previous SMA 50 collector
Why this script ?
The SMA 50 is known to define a trend. If price is closing above, trend is bullish , if below, trend is bearish.
That's why I like to have all of them in all timeframes on my chart :)
Those are very relevant for all assets class : FOREX, INDEX, STOCKS,...
This is a quick throw together of MacnBTC MAs he describes on twitter.
Simply put, using the mix of SMAs and MAs to identify higher timeframe trading opportunities. To buy and or sell the various retests.
Timeframes to be used with: 4H, 12H, 1D, 1W, 1M
From his twitter thread;
Concept 1: As we remember MAs can either be flat or in a uptrend or...