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Thushara Dissanayake  

The Moving Average (MA) can be used in trading for various purposes:

  • Trend Identification: Moving Averages' smoothing properties and responsiveness to price changes make them useful for identifying trends. An upward-sloping MA indicates a bullish trend, while a downward-sloping MA suggests a bearish trend. The position of the MA relative to the price provides additional information about the trend.

  • Spot Trend Reversals: When a Moving Average crosses above or below the price, it can signal potential trend reversals. If the MA moves above the price after an uptrend, it may indicate a bearish trend reversal. Conversely, if the MA moves below the price, it may signal a bullish trend reversal. It's important to use the Moving Average alongside other indicators for confirmation.

  • Support and Resistance: Moving Averages can act as dynamic support and resistance levels. When the price is above the Moving Average, it may act as a support level, while when the price is below the Moving Average, it could act as a resistance level. Traders can use these levels to set stop-loss orders or take-profit targets.

  • Moving Average Crossovers: When different Moving Averages with different periods cross each other, it can provide trading signals. A bullish crossover occurs when a shorter period Moving Average crosses above a longer period Moving Average, indicating a potential upward price movement. Conversely, a bearish crossover occurs when a shorter period Moving Average crosses below a longer period Moving Average, suggesting a potential downward price movement.

  • Price-Moving Average Relationship: The distance between the price and the Moving Average can provide valuable insights. If the price consistently stays above the Moving Average, it suggests a strong bullish trend. Conversely, if the price consistently stays below the Moving Average, it indicates a strong bearish trend.

  • Moving Average Bounce: When the price approaches a Moving Average, it may bounce off it, providing potential trading opportunities. Traders can look for price rejections or bullish/bearish candlestick patterns near the Moving Average as confirmation.

  • Moving Average as Dynamic Entry/Exit Levels: Moving Averages can serve as dynamic entry and exit levels for trades. Traders may consider entering a trade when the price pulls back to a Moving Average during an uptrend or bounces off a Moving Average during a downtrend. Exiting a trade can be considered when the price moves away from the Moving Average.

  • Moving Average Confluence: Identifying areas where multiple Moving Averages converge can provide strong support or resistance zones. These confluence areas can act as significant price levels where traders can look for trade setups or potential reversals.

  • Moving Average Slope: The slope of the Moving Average can indicate the strength of the trend. A steeply sloping Moving Average suggests a strong trend, while a flat or sideways Moving Average indicates a ranging or consolidating market.

  • Moving Average Envelopes: Using multiple Moving Averages with different deviations from the central line can create envelopes around the price chart. These envelopes can help identify overbought and oversold conditions, as well as potential price breakouts or reversals.


Moving Average crossover strategy

The Moving Average (MA) crossover strategy involves using two different MA timeframes, a shorter period and a longer period, to generate trading signals. When the shorter period MA crosses above the longer period MA, it indicates a potential bullish trend, while a crossover below suggests a possible bearish trend. This strategy helps traders identify potential entry and exit points based on the relationship between the moving averages.


Advantages of choosing MA as your trading indicator

  • Responsiveness: Moving Averages are highly responsive to price changes, allowing traders to quickly identify potential trend shifts and market reversals.
  • Smoothness: Despite their responsiveness, Moving Averages maintain a smooth curve, reducing market noise and minimizing false signals.
  • Versatility: Moving Averages can be applied to various timeframes, markets, and trading styles, making them suitable for diverse trading objectives.
  • Trend Identification: Moving Averages' smoothing properties make them effective in identifying trends and their potential strength.
  • Trend Reversals: Moving Averages can be useful in spotting trend reversals, providing early signals of potential changes in market direction.
  • Support and Resistance: Moving Averages can serve as dynamic support and resistance levels, adapting to changes in price action and aiding in setting stop-loss and take-profit levels.
  • Easy Interpretation: Moving Averages' simplicity makes them easy to interpret and integrate into existing trading strategies.
  • Compatible with Other Indicators: Moving Averages can be effectively combined with other technical analysis tools and indicators for confirmation and enhanced trading signals.
  • Popular Strategy: The Moving Average crossover strategy, using two different Moving Average timeframes, is a widely adopted and proven trading approach.
  • Wide Usage: Moving Averages are widely used by traders of all levels due to their reliability and versatility.
Thushara Dissanayake  

v1.0 Features

  • Powerful Multi-symbol, Multi-timeframe Indicator: Scan and analyze multiple currency pairs and timeframes simultaneously.
  • Moving Averages (MA): Utilize the reliable and widely used Moving Averages for enhanced trend detection and reversal signals.
  • Comprehensive Dashboard: All signals are displayed in a user-friendly dashboard, providing a clear overview of trading opportunities.
  • Interactive Button Interface: Each signal is presented as a clickable button for easy access and chart analysis.
  • Quick Chart Navigation: Instantly open a new chart with Moving Average lines by clicking on a signal button.
  • Automatic Chart Opening: Enable the "Open new chart activated" feature to automatically open the latest chart corresponding to the signal.
  • Versatile Scanning Mode: Efficiently scan and identify potential trading opportunities across different currency pairs and timeframes.
  • Single Moving Average Line Drawing: Focus on a single Moving Average line for detailed analysis and decision-making.
  • Comprehensive Alert System: Stay informed with pop-up, mobile, email, and sound alerts for timely notifications.
  • Adaptability and Customization: Customize the indicator to suit your trading style and preferences, making it suitable for traders of all levels of expertise.


v1.0 Parameters

  • Mode
    • Scanner mode - Scanner mode (choose between Scanning and Single Line Drawing).
  • Moving Average Parameters
    • Fast HMA period - Period for fast Moving Average calculation.
    • Fast method - Method used for fast Moving Average calculation.
    • Fast price - Price used for fast Moving Average calculation.
    • Slow HMA period - Period for slow Moving Average calculation.
    • Slow method - Method used for slow Moving Average calculation.
    • Slow price - Price used for slow Moving Average calculation.  
    • Symbols (SemiColon(;) separated) - Symbol list (Use " ; " to separate)
    • Timeframes (SemiColon(;) separated) - Timeframe list ( Use " ; " to separate))
  • Alert Filters 
    • Open new chart activated - Activate automatic opening of a new chart.
    • Pop-up alert activated - Pop-up alerts enabled.
    • Mobile alert activated - Mobile alerts enabled.
    • Email alert activated - Email alerts enabled.
    • Sound alert activated - Sound alerts enabled.
      • Bullish signal message - Custom message for bullish signals.
      • Bearish signal message - Custom message for bearish signals.
    • Graphic Parameters
      • Bullish button color - Color for bullish signal buttons.
      • Bearish button color - Color for bearish signal buttons.
      • Button state color - Color for button state (checked/unchecked).
      • Button font color - Color for button font.
      • Button font - Font style for buttons.
      • Button font size - Font size for buttons.  
      • Button distance from top - Vertical distance of buttons from the top.
      • Button distance from left - Horizontal distance of buttons from the left.  
      • Button per column [0 = max] - Maximum number of buttons per column (0 for unlimited).
      • Blank chart for dashboard - Display a blank chart in the dashboard.  
      • Clear the dashboard within [x] minutes - Clear the dashboard after a specified time period.