Pivot points w/ 4EMA's,VWAP,HA Overlay & Crossover

7 jam yang lalu

With this script you get 5 indicators added to your chart, the list of indicators are as follow:

1- Pivot Points with mids (from R5 to S5 levels)
2- Vwap with option to choose source. Some traders prefer HLC3 while others prefer OHLC4
3- 4 Exponential Moving Averages. Option to choose your length, color and timeframe.
4- Exponential Moving Average cross signal. Used with the first two exponential moving averages selected. Can also be opted out if not wanted.
5- Heiken Ashi Candle Overlay.

Pivot Points with mids is an indicator widely used within the trading community, it provides support and resistance levels for the day. While the VWAP is also popular within the trading world, it gives you a visual representation of if we are trending down/up for the day. The Exponential Moving Averages is also another indicator that is widely known in the market. it can also serve as support/resistance and trend. The crossover aspect of this script is to signal when the first two moving averages cross each other to alert you of a possible counter trend beginning. As for the Heiken Ashi candles it used by most traders who have a hard time seeing/understanding the regular candle stick chart, with Heiken Ashi it is easier to spot trend changes.

When looking at the chart with all indicators displaying from this script it gives a better understanding of the moves the market has made and the probabilities as for the targets, the more confluence you have the better decision you can make as trader for self improvement. Each trader views and trades the market differently, The more we share the more we can help other traders learn and self imropve.