Higher Timeframe Moving Average Trend
Choose 3 different moving averages, and select how you want them positioned it relation to each other, on up to 3 different timeframes. When all conditions are true on all the timeframes, it highlights the background in the color you choose. Can also be used as a condition within the StratBuilder. Comes FREE with the StratBuilder.
Moving Average Options:
- EMA
- SMA
Example
For example, let's say we wanted our three moving averages to be:
- 9 EMA
- 21 EMA
- 55 EMA
And we were on the 8 hour chart, but wanted to only highlight the background when the
9 EMA > 21 EMA > 55 EMA on the 1 day chart
and
9 EMA > 21 EMA on the 12 hour chart
It would look like this:
The purpose of this is to attempt to look at the higher timeframe trend to try and determine if the chart is in a generally upwards or downwards trend. In this case, it seems to identify general uptrends quite well.
You can then apply a setting like this in the StratBuilder in the 'MA Trend for Higher Timeframe' section so your strategy is only taking trades during general uptrends/downtrends determined by the higher timeframes.
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Higher Timeframe Moving Averages