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Multiple SMAs

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Multiple SMAs

It is trend following indicator.
When Close is above of any sma (there are 20 sma's) it scores like 1, every next sma will scores like +1 to previous score. So when we have close above 15 sma's means score 15 and more it is up trend, when below of 15 sma's down trend else it is a ranging market. You can see trends on colors of bars and colors of sma's. Blue bars down trend, orang Up, gray ranging market

Recomendation to use it only on daily timeframe. But can work on other timeframes you need to experiment with it

In a top right corner is a trend box what shows: Scores, up, down trends or ranging market:
https://www.tradingview.com/x/0y9umkDG/

Ranging Market:
https://www.tradingview.com/x/KfjrxliF/

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