OPEN-SOURCE SCRIPT
Multiple Exponential Moving Averages
The "Multiple Exponential Moving Averages" indicator is a custom technical analysis tool created for TradingView. It combines five different Exponential Moving Averages (EMAs) into a single indicator. Each EMA has a user-defined length, and they are plotted on the chart with different colors to differentiate them.
Exponential Moving Averages are commonly used in technical analysis to smooth out price data and identify trends. They give more weight to recent price data, making them more responsive to recent price changes than Simple Moving Averages (SMAs). By combining multiple EMAs with different lengths, TradingView users will no longer have to worry that they will run out of slots when wanting to add new indicators to their chart.
Exponential Moving Averages are commonly used in technical analysis to smooth out price data and identify trends. They give more weight to recent price data, making them more responsive to recent price changes than Simple Moving Averages (SMAs). By combining multiple EMAs with different lengths, TradingView users will no longer have to worry that they will run out of slots when wanting to add new indicators to their chart.
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.
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Disclaimer
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