vnhilton

RTH & ETH MAs [vnhilton]

vnhilton Updated   
On the left window shows ETH MAs on RTH session. On the right, shows RTH MAs on ETH session. Both RTH & ETH MAs can be displayed together at the same time if needed.

This indicator allows you to display RTH & ETH MAs on either RTH or ETH. For fast MAs, RTH & ETH version will converge earlier & be the same. ETH MAs are faster responding as they take into account ETH data & so will be more accurate at the open. However, RTH MAs can still be of use since many use indicators on RTH only.

Above shows both RTH & ETH MAs. Notice how they converge.
Release Notes:
added up to a total of 6 MAs.
Release Notes:
- Added custom timeframes for each MA (Note: using a different timeframe other than the chart timeframe would make the RTH moving average appear dotted instead of a line on style = line.break, therefore I've switched RTH line styles to default line)
- Added convergence MA: plots MA when RTH & ETH MA converges.

Left side shows RTH & ETH 5 minute 20 period MAs; Right side shows Convergence 5 minute 20 period MA
Release Notes:
- Reverted line style settings
- Image above in previous update shows 2 different timeframes which is incorrect. If MA timeframes are equal to chart timeframe, then lines will be connected on line break style. However, if the MA timeframe is higher than the chart timeframe, then the MA will appear broken repeatedly instead of a connected line. Not sure the solution to this, so please let me know of a solution. In the meantime, change line style to a circle or cross if using HTF MAs on LTF chart, otherwise, I recommend you use MAs of same or lower timeframe as the chart.
Release Notes:
- Added bollinger bands for convergence MAs that appear only when price range is above &/or below convergence MA

20 period convergence SMA, with 2 stddev. bands.
Release Notes:
- Added partial convergence bands toggle feature (If disabled, then bands show up normally)
Release Notes:
- Added toggles to display MAs on D/W/M timeframes only.
Release Notes:
- Added ETH on ETH only toggle for ETH MAs
Release Notes:
- Added 2 colors for each MA (excl. convergence MAs since almost hit maximum number of outputs) based on slope of MA

- removed fills between rth and eth MAs
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.

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