On lower timeframes there are “gaps” in data for higher timeframe data, smoothing these gaps averages out the missing data which will result in a more “normal” looking MA – but the moving average price will not be technically accurate unlike the stepped version.
If you are using a higher timeframe for any of your moving averages then this setting will affect how that moving average is drawn to your chart. This setting overrides all of your moving average types to be the same. The possible options are EMA, SMA, HMA, WMA, DEMA, VWMA and VWAP. This sets the type or style of your moving average. If set to zero it will disable that moving average (except for MA#1 which must be a positive number). This is the moving average length/period. If enabled, the first MA on your chart will change color based on whether price action is trading above or below it (green for above, red for below). If you set an MA’s length to zero it will disable that MA. If it’s above it then the color turns green, if it’s below it then it turns red. Technically speaking, the non-smoothed setting is more accurate and so it’s turned off by default.Īnd finally, the first option “Color MA 1” will change your first MA’s color based on whether price action is above that MA’s price or below it. Draws exponential moving average prices as a line chart for three different time frames. If the “Smooth HTF MA” setting is turned on then the script will fill any gaps in intraday price data by averaging the difference (giving it a regular smooth look), and if it’s turned off then the HTF MAs will have a “stepped” look to them. EMA (20,50,200) Exponential Moving Average on last 20, 50 and 200 close prices. There is also higher-timeframe functionality, so you can select the timeframe for each moving average. Ou can specify the length of each moving average, and you can override the type of all moving averages with the setting “ALL MA TYPE”. This script adds up to 5 moving averages to your chart – and you can select which moving average type (and timeframe) you want to use for each.
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