Moving averages usually represent dynamic supports or resistances and are very useful in trading.
In addition, this indicator predicts where these moving averages will be located three ahead and predicts their projected movement.
I hope you enjoy it and enjoy using it.
TP River option
This option consists of two exponential moving averages 144 and 169.
Exponential Moving averages usually represent dynamic supports or resistances and are very useful in trading.
How does this works?
It can be used in uptrend or downtrend.
As a particular currency grows, we are most interested in where the peak will be reached. In this case, we use the hourly time frame and when it falls below both exponential moving averages this means that there is a possibility that the trend will reverse in a negative direction. Confirmation that the trend has turned in a negative direction is obtained if the candlesticks fall below both exponential moving averages at a 4-hour time frame and then at a daily time frame. If this happens, the trend changes from uptrend to downtrend.
So, a 1 hour interval first alerts us to the impending danger of a trend reversal.
If we want to see when the downward trend will change into growth, we must also be interested in shorter time frames. When it exceeds both exponential moving averages at 1 hour time frame, this is the first sign of an impending trend reversal. When it then exceeds the 4-hour time frame and then the daily time frame, the upward trend change is confirmed.
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.