After receiving some multiple request to provide a indicator that displays multiple timeframes at the same time I created this simple script.
You can use this script for free and adjust it as much you like.
With this script you can plot 6 lines & 6 Signal lines.
• Current Timeframe Line
• Current Timeframe Signal Line
• 15 minute candle Line
• 15 minute candle Signal Line
• 30 minute candle Line
• 30 minute candle Signal Line
• 1 hour candle Line
• 1 hour candle Signal Line
• 2 hour candle Line
• 2 hour candle Signal Line
• 4 hour candle Line
• 4 hour candle Signal Line
HOW TO USE:
• When multiple lines on an uptrend are grouped together it is time to SELL.
• When multiple lines on a downtrend are grouped together it is time to BUY.
• The higher to length of the lines the stronger the BUY/SELL signal.
• You can show/hide the preferred lines.
• You can show/hide the preferred Signal lines.
The indicator is generated by subtracting two exponential moving averages (EMAs) to create the main line ( line), which is then used to calculate another that represents the signal line. In addition, there is the histogram, which is calculated based on the differences between those two lines. The histogram, along with the other two lines, fluctuates above and below a center line, which is also known as the zero line.
The indicator consists of three elements moving around the zero line:
• The line. By default the line is calculated by subtracting the 26-day from the 12-day .
line = 12d - 26d
• The signal line. By default the signal line is calculated from a 9-day of the line.
Signal line = 9d of line
• Histogram. The histogram is nothing more than a visual record of the relative movements of the line and the signal line.
It is simply calculated as: line - signal line
• This advice is NOT financial advice.
• We do not provide personal investment advice and we are not a qualified licensed investment advisor.
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• While the information provided is believed to be accurate, it may include errors or inaccuracies.
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