OPEN-SOURCE SCRIPT
Convergence Moving Averages
This script helps traders analyze trends by plotting multiple types of moving averages (SMA, EMA, WMA, HMA) on the chart. You can select between these different types and adjust their lengths to identify potential trend reversals and strengths. The convergence and divergence of these moving averages can provide key insights into the market's direction.
Moving averages are crucial tools in technical analysis. By combining multiple MAs, this script allows you to monitor how the price reacts to short-term, medium-term, and long-term averages. It offers flexibility by allowing the user to select different types of moving averages for each of the 5 plots.
How to Use:
1. Choose the type of MA from the inputs: Simple, Exponential, Weighted, or Hull.
2. Set the length for each MA (ranging from 1 to 200 or beyond).
3. The plotted lines represent the selected MAs, helping you spot when different periods are
converging (which may signal a trend change) or diverging (indicating trend continuation).
Use this tool as part of a broader technical analysis setup to improve your trading decisions.
Moving averages are crucial tools in technical analysis. By combining multiple MAs, this script allows you to monitor how the price reacts to short-term, medium-term, and long-term averages. It offers flexibility by allowing the user to select different types of moving averages for each of the 5 plots.
How to Use:
1. Choose the type of MA from the inputs: Simple, Exponential, Weighted, or Hull.
2. Set the length for each MA (ranging from 1 to 200 or beyond).
3. The plotted lines represent the selected MAs, helping you spot when different periods are
converging (which may signal a trend change) or diverging (indicating trend continuation).
Use this tool as part of a broader technical analysis setup to improve your trading decisions.
Skrip sumber terbuka
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Penafian
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