Hi all,
I'm looking for a simple indicator, which I'm sure already exists, but which I can't seem to find!!
Basically, I would like something to show which way 2 moving averages are stacking on 2 different timeframes.
For example, I use 9ema and 18ema on both weekly and daily timeframes to show direction. 9ema below 18ema = downtrend and 9ema above 18ema = uptrend.
However, it would be really handy to be able to see this information on the lower timeframes in the form of coloured arrows in one corner of the chart.
Like I say, I'm sure there's already something out there which does this, but I just can't find it!
Many thanks in advance!
Moving average directional indicator
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Bruster400
- Trader
- Posts: 192
- Joined: Tue Sep 24, 2013 3:19 pm
Moving average directional indicator
Hi,
Here's one. It's a ribbon across the bottom of the chart (better for back testing) and you will need to load it twice, once per timeframe. It has a "slope filter" which checks to see whether the fast MA is still sloping in the trend direction. It looks at the price of the MA now and compares it to the price, SlopeBackBars ago. For example, If the fast MA turns down in an uptrend the indi will go grey to give advance warning of a potential cross. I use it as an exit.
Also note that this is designed to show higher timeframes so ignore it if you switch to a timeframe above this - eg. if you switch to the weekly chart, ignore the daily ribbon. When I load it, I tend to restrict the timeframe visualisation to the timeframe I've set the indi to and below.
Hope this helps
Here's one. It's a ribbon across the bottom of the chart (better for back testing) and you will need to load it twice, once per timeframe. It has a "slope filter" which checks to see whether the fast MA is still sloping in the trend direction. It looks at the price of the MA now and compares it to the price, SlopeBackBars ago. For example, If the fast MA turns down in an uptrend the indi will go grey to give advance warning of a potential cross. I use it as an exit.
Also note that this is designed to show higher timeframes so ignore it if you switch to a timeframe above this - eg. if you switch to the weekly chart, ignore the daily ribbon. When I load it, I tend to restrict the timeframe visualisation to the timeframe I've set the indi to and below.
Hope this helps
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