Script to plot common daily/alternative timeframe moving averages on when viewing securities at other resolutions.
There's lots of different MA scripts out there, but I couldn't find one that just represented the standard support/resistance indicators that were typical for my markets. So, this is the DIY. :)
This SMA will change colour when the price crosses above and below.
When the Price is above, the SMA will be GREEN to indicate you should look for BUY entries.
When the Price is below, the SMA will be RED to indicate you should look for SELL entries.
The default is set to 50 SMA, this can be changed in the settings to suit your requirements.
The today script is an upgrade on steroids of my previous SMA 50 collector
Why this script ?
The SMA 50 is known to define a trend. If price is closing above, trend is bullish , if below, trend is bearish.
That's why I like to have all of them in all timeframes on my chart :)
Those are very relevant for all assets class : FOREX, INDEX, STOCKS,...