notjoebidness

MTF Custom Moving Averages

notjoebidness Pro Updated   
This user-friendly indicator allows up to 8 moving averages ( EMA or SMA ) from any timeframe, on any time frame. There are plenty of other MTF MA indicators, each with their own pros and cons. I wanted to make one without the cons:

- Independently set each MA to Exponential or Simple
- No preset lengths
- No preset timeframes
- Optional labels to help keep track of the period/length/type of each plot
- Clean, intuitive input layout
- More than enough MAs available to use one indicator for several use cases... just check/uncheck the ones that are relevant to each chart

Watch for death crosses on the 4hr while monitoring the "Bull Market Support band" (Weekly 21 EMA and 20 SMA ) and checking the Monthly 10 EMA for major support or resistance. Toggle between half of the available MAs for long term BTC trends and use the others for your alts. Use this one indicator to support multiple strategies.

Please leave a comment if you find it useful or have suggestions!

Inspired by the first MTF indicator I found: Weekly Moving Average by TommyTompsen.
Release Notes: Added multi-condition alerts. Set an alert to trigger when price moves above or below some or all of your customized MTFmoving averages.

Instructions: Right click any MTF Custom MA on your chart and choose "Add alert on MTF Custom MAs." The alert condition will default to "MTF Custom MAs." In the next drop-down you choose the trigger. For example, "Close above MA1-MA5" will trigger an alert only when price closes above your custom settings for M1 (10M EMA), M2 (21W EMA), M3 (21D EMA), M4 (20D SMA), & M5 (4hr 200 SMA). The frequency of alerts can be refined by selecting your desired timeframe before setting the alert and setting the alert to "Once per bar close."

To set alerts based on price crossing a single MA, change the alert condition to the ticker (example: BTCUSDT), then choose "Crossing," then choose the specific MA you want to track (example: MA3).
Release Notes: v.04:
- Added optional fill between any two sequential MTF moving averages (finally!)
- Fill color follows the color of the dominant MA at crossovers
- Set fill transparency in settings
- Increased available MAs from 8 to 10
- Label color now follows the color of the MA
- Changed syntax to length-period-type (200 H EMA) to make the labels and status bar more readable
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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?