EMAs for D W M Timeframes

15 Ogo

EMAs for D W M Timeframes

Description:

The “EMAs for D W M Timeframes” indicator allows users to set specific Exponential Moving Averages (EMAs) for Daily, Weekly, and Monthly timeframes. The script utilizes these user-defined EMA settings based on the chart’s current timeframe, ensuring that the appropriate EMAs are always displayed.

Please note that for timeframes other than specified, it defaults to daily EMA values.

EMA : The Exponential Moving Average (EMA) is a type of moving average that places greater weight and significance on the most recent data points. This makes the EMA more responsive to recent price changes compared to a simple moving average (SMA), making it a popular tool for identifying trends in financial markets.

Features:

• Daily and Default EMAs: Users can specify two EMAs for the Daily timeframe, which also act as the default EMAs for any unspecified timeframe. The default values are set to 10 and 20.
  
• Weekly EMAs: For Weekly charts, the indicator plots two EMAs with default values of 10 and 30. These EMAs help in tracking medium-term trends.
  
• Monthly EMAs: On Monthly charts, the indicator plots EMAs with default values of 5 and 10, providing insights into long-term trends.
  
• Timeframe-Based Display: The indicator automatically uses the EMA settings corresponding to the current chart’s timeframe, whether it is Daily, Weekly, or Monthly.
  
• If the chart is set to any other timeframe, the Daily EMA settings are used by default.
  

How to Use:

Inputs:
* Daily and Default EMA 1 & 2: Adjust the values for the short-term and long-term EMAs on the Daily chart, which are also used for any other unspecified timeframe.
* Weekly EMA 1 & 2: Set the values for the EMAs that will be shown on Weekly charts.
* Monthly EMA 1 & 2: Specify the values for the EMAs to be displayed on Monthly charts.

Visualization:
* Depending on the current chart timeframe, the script will automatically display the relevant EMAs.

Default Values:
* Daily and Default EMAs: 10 (EMA 1), 20 (EMA 2)
* Weekly EMAs: 10 (EMA 1), 30 (EMA 2)
* Monthly EMAs: 5 (EMA 1), 10 (EMA 2)

This indicator is designed for users who want to monitor EMAs across different timeframes, using specific settings for Daily, Weekly, and Monthly charts.