There is an Exponential Moving Average that pro traders use but usually retail traders are not aware of.
This is the 34 weekly EMA (source:Low); this helps to define if we are in a bull or bear market. Instead of having your EMA at source:close, change it to Low. It shows the average low prices per week instead of the closing. In my opinion, the low price gives a more accurate picture of the trend.
You can backtest it with other charts if you want.
This is the 34 weekly EMA (source:Low); this helps to define if we are in a bull or bear market. Instead of having your EMA at source:close, change it to Low. It shows the average low prices per week instead of the closing. In my opinion, the low price gives a more accurate picture of the trend.
You can backtest it with other charts if you want.
