Multi Moving Averages
Multi Moving Averages indicator is based on moving average. The indicator draws additional averages with a specified step for each timeframe. Thus it forms a channel.
- Period - period of averaging of the moving average.
- Method - method of averaging.
- Color - color.
- Number of Levels - number of additional levels.
- Steps - step of levels for each timeframe.
This indicator can be used for a wide range of purposes. You can detect a trend using the slope of the average. The levels can be used for exiting and for entering the market by a trend.
It is recommended to use SMA (Simple Moving Average) as a basis, since it is resistant to spikes at correction.
Step is determined as one third of the volatility of the greatest timeframe.
For example, the step for Н4 EURUSD = 80 p. Approximately it is the volatility of D1.