Credit to @Zoen Triste for his original script at tradingview.com/script/hocXtiMn-1H-20EMA/ I just amend it for the 4H time frame. The main function is for dynamic support and resistance when day trading using smaller time frames such as 15mins so that we don't have to juggle between 4H and 15min time frames to see where is the EMA21 at 4H for the moment.
Another case: There is bullish divergence at 4H. So the intraday trend is uptrend. But since the bigger trend is still downtrend, it's always good to look for sell signal once price is around the 4H EMA 21. What happened yesterday and the day before were textbook cases of price action using EMA 21.
There is bullish divergence at 4H. So the intraday trend is uptrend. But since the bigger trend is still downtrend, it's always good to look for sell signal once price is around the 4H EMA 21. What happened yesterday and the day before were textbook cases of price action using EMA 21.