OPEN-SOURCE SCRIPT
Updated Multi-timeframe Moving Average with Summary Table
This script aims to keep you orientated with regard to moving averages on higher time frames when working in the lower timeframe. It will show the given MA specification from you current timeframe and the timeframes above. In addition, it also shows a summary table of what the MAs on the other timeframes are doing (trending up/down, flat).
So if you are on the 15 minute timeframe looking at the 20SMA you will know where the 20SMA is on the 1hour, 4hour, 1D, 1W, 1M. You also know the direction of the upper timeframe mas (the 1 hour is trending up but the 4hour is flat etc).
Defining whether an MA is trending is a little subjective but the script making a reasonable job of it - it compares the current MA level to the MA level the defined bars back and compares that to the average true range. (That way it works the same across all currencies regardless of their natural volatility. There is a check feature so you can understand the results your settings are creating.
summary table
show mas
check feature
So if you are on the 15 minute timeframe looking at the 20SMA you will know where the 20SMA is on the 1hour, 4hour, 1D, 1W, 1M. You also know the direction of the upper timeframe mas (the 1 hour is trending up but the 4hour is flat etc).
Defining whether an MA is trending is a little subjective but the script making a reasonable job of it - it compares the current MA level to the MA level the defined bars back and compares that to the average true range. (That way it works the same across all currencies regardless of their natural volatility. There is a check feature so you can understand the results your settings are creating.
summary table
show mas
check feature
Release Notes
-Colour of the table cell = direction of ma trend
-Colour of text = price close above/below ma
Release Notes
bug fix - check mode was deactivatedRelease Notes
improvementsOpen-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.