OPEN-SOURCE SCRIPT
Derived moving averages
Updated
BTCUSDThis indicator shows five derived moving averages based on a daily simple moving average (daily MA).
The derived moving averages are projected along the daily MA on which they are based on the chart.
The period of the daily MA, and the percentages by which the derived moving averages are removed from the daily MA are adjustable.
The derived moving averages are shown both above and below the daily MA.
The derived moving averages act as support and resistance .
This indicator can be used for a wide array of markets.
As far as I know this indicator can be used for stocks, cryptocurrencies, futures , Forex and bond yields.
It only works on hourly time frames.
Release Notes
BTCUSDI have made a small update to the indicator. It's now possible to use it as a simple moving average OR exponential moving average.
Release Notes
BTCUSDI have made a small update to the indicator. It's now possible to use it as a simple moving average OR exponential moving average.
Release Notes
BTCUSDChart updated to make it more clear.
Release Notes
BTCUSDChart updated to make it more clear.
Every white line is an extra 10% more depicted from the 21 weekly EMA, 147 days.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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.