OPEN-SOURCE SCRIPT
Indicator: SMA/EMA (Multi timeframes)
This moving average indicator will plot the SMA or EMA sourced from a different timeframe on the current chart.
Applications:
Say you are viewing an hourly chart but you also want to know the ema20 sourced from a higher timeframe (i.e daily) of the same security. The problem with using most built-in indicators is that the MA values are usually calculated from the current chart, so to do that, you will have to toggle between 1h/1D. This script will eliminate this hassle by plotting out the desired alternative timeframe on the same chart.
Dynamic settings
By default the alternative timeframe is 1D, but this can be customized further:
- 1 week chart -> plots out 1 month MA
- 1 day chart -> plots out 1 week MA
- 1 hour chart -> plots out 1 day MA
Applications:
Say you are viewing an hourly chart but you also want to know the ema20 sourced from a higher timeframe (i.e daily) of the same security. The problem with using most built-in indicators is that the MA values are usually calculated from the current chart, so to do that, you will have to toggle between 1h/1D. This script will eliminate this hassle by plotting out the desired alternative timeframe on the same chart.
Dynamic settings
By default the alternative timeframe is 1D, but this can be customized further:
- 1 week chart -> plots out 1 month MA
- 1 day chart -> plots out 1 week MA
- 1 hour chart -> plots out 1 day MA
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.