INVITE-ONLY SCRIPT
The Multi Touch EMA Confluence Indicator
Updated
The Multi Touch EMA Confluence Indicator identifies zones where EMAs across 6 different time frames are within a specified range in proximity of the close value. These zones indicate confluence of EMAs.
The confluence zone is specified as a point difference.
When confluence is found, the indicator will paint horizontal lines of different color and width.
The maximum number of time frames being used is 6.
The maximum number of EMAs per time frame is 4.
When confluence occurs it usually indicates a precursor of price expansion. This indicator can be used to determine when momentum is about to come back into the market.
The confluence zone is specified as a point difference.
When confluence is found, the indicator will paint horizontal lines of different color and width.
- Blue Zones indicate a confluence of 3 EMAs across all time frames
- Orange Zones indicate a confluence of 4 EMAs across all time frames
- Red Zones indicato a confluence of 5 or more EMAs across all time frames.
The maximum number of time frames being used is 6.
The maximum number of EMAs per time frame is 4.
When confluence occurs it usually indicates a precursor of price expansion. This indicator can be used to determine when momentum is about to come back into the market.
Release Notes
fix: Refined confluence algorithm thresholds. Invite-only script
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