MTF MA Chaser

30 ene

This is my own Moving Averages analysis tool, if anyone else will find it useful.

How It Works:

Upon adding the indicator to the chart, it calculates the selected Moving Averages for the defined timeframes. The main chart will display these MAs according to the user's chosen timeframe and type (default is the chart timeframe). Simultaneously, a table is generated on the chart, showcasing the percentage difference of the current price from these MAs across various timeframes. This table is color-coded to indicate different market states, such as proximity to MA/price crossovers.

Key Features:

• Multi-Timeframe Analysis: Users can view Moving Average data from different timeframes (5m, 15m, 1H, 4H, 1D, 1W) on their current chart. This allows for quick and efficient analysis without the need to switch between different timeframe charts.
  
  
• Variety of Moving Averages: The indicator supports different types of MAs, including EMA (Exponential Moving Average), SMA (Simple Moving Average), and others, providing flexibility in analysis.
  
  
• Realtime Data Option: Users can choose to display real-time data for MAs, enabling them to make timely trading decisions based on the most current market information.
  
  
• Customizable Display: The indicator features a customizable table that displays the MA values and their differences from the current price in percentages. Users can show or hide this table and adjust its position and text size according to their preference.
  

Limited Timeframe Support: The indicator is designed to work on equal or higher timeframes relative to the current chart's timeframe. It specifically supports 5-minute (5m), 15-minute (15m), 1-hour (1H), 4-hour (4H), 1-day (1D), and 1-week (1W) timeframes. This means if your current chart is set to a 1-hour timeframe, the indicator will only show MA data for 1-hour and longer timeframes (4H, 1D, 1W), but not for shorter ones like 5m or 15m.

Yet, you can go down to a 1 - 4 minute chart for scalping purposes if necessary.