OPEN-SOURCE SCRIPT
Planète_Finance_69_Multi-TF EMA200 (15min-60min-D-W-M)
This strategy is a multi-timeframe trend analysis tool based on the 200-period Exponential Moving Average (EMA) across five different timeframes: 15 minutes, 1 hour, daily, weekly, and monthly. It overlays these EMAs on the chart and colors the background to visually indicate the overall trend direction.
The core idea is to assess how many EMAs the current price is above or below. If the price is above a majority of these EMAs (default is 4 out of 5), the background is shaded green to signal a bullish trend. Conversely, if the price is below most EMAs, the background turns red, signaling a bearish trend. If neither condition is met, the background remains uncolored, indicating a neutral or unclear trend.
Labels showing the name and timeframe of each EMA are displayed on the right side of the chart for easy identification.
This approach helps traders quickly grasp the market's multi-timeframe momentum and trend strength, offering a clear visual guide for making trading decisions based on long-term and short-term trend alignment.
The core idea is to assess how many EMAs the current price is above or below. If the price is above a majority of these EMAs (default is 4 out of 5), the background is shaded green to signal a bullish trend. Conversely, if the price is below most EMAs, the background turns red, signaling a bearish trend. If neither condition is met, the background remains uncolored, indicating a neutral or unclear trend.
Labels showing the name and timeframe of each EMA are displayed on the right side of the chart for easy identification.
This approach helps traders quickly grasp the market's multi-timeframe momentum and trend strength, offering a clear visual guide for making trading decisions based on long-term and short-term trend alignment.
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.
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.