CM_Ultimate_MA_MTF - Modified w Signals

The CM_Ultimate_MA_MTF - Modified w Signals indicator provides a versatile multi-timeframe moving average solution designed to identify trend direction and potential entry points through crossover signals.

Usage

The tool can be used to track trends across different timeframes by overlaying a secondary timeframe's moving average onto your current chart. Traders can utilize the primary moving average to gauge the immediate trend or enable the optional second moving average to generate "BUY" and "SELL" signals based on crossovers and crossunders.

The signals appear as labels on the chart:

• BUY Label: Triggered when the primary moving average crosses above the secondary moving average.
• SELL Label: Triggered when the primary moving average crosses below the secondary moving average.

You can also enable color-coding for the moving averages to change based on the slope (direction), allowing for a visual representation of momentum shifts.

Details

This script is a modification of the Ultimate Moving Average by Chris Moody, enhanced with built-in crossover signals and alert optimization. It supports seven different moving average types:

1. Simple Moving Average (SMA)
2. Exponential Moving Average (EMA)
3. Weighted Moving Average (WMA)
4. Hull Moving Average (HullMA)
5. Volume Weighted Moving Average (VWMA)
6. Running Moving Average (RMA)
7. Triple Exponential Moving Average (TEMA)

The implementation uses the request.security function to fetch data from different resolutions, ensuring that the selected timeframe is accurately reflected regardless of the current chart's period.

Settings

Primary Moving Average

• Use Current Chart Resolution?: If checked, the indicator uses the timeframe of the active chart. If unchecked, it uses the custom timeframe selected below.
• Use Different Timeframe?: Sets the specific timeframe for the calculation (e.g., Daily, 4-hour).
• Moving Average Length: The lookback period for the primary calculation.
• Moving Average Type (1-7): Selects the calculation method (SMA, EMA, WMA, HullMA, VWMA, RMA, or TEMA).
• Change Color Based On Direction?: Toggles color changes on the line based on whether it is trending up or down.
• Color Smoothing: Adjusts the sensitivity of the color change to reduce noise.

Secondary Moving Average

• Optional 2nd Moving Average: Toggles the visibility of the second MA.
• Moving Average Length: The lookback period for the secondary calculation.
• Moving Average Type (1-7): Selects the calculation method for the second MA.
• Change Color Based On Direction 2nd MA?: Toggles color changes for the second MA line/dots.

FAQ

How do I access CM_Ultimate_MA_MTF - Modified w Signals?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

Can I use this for scalping?

Yes, by adjusting the timeframe setting to a higher resolution (like 15m or 1h) while viewing a lower-resolution chart (like 1m or 5m), you can identify scalping opportunities within the context of a larger trend.

Why are the signals appearing two bars back?

The script uses an offset in the plotshape function to ensure visual clarity and align with the crossover point on the chart history.