Multiple Moving Averages

The Multiple Moving Averages indicator plots up to five independent moving averages on a single chart, allowing users to analyze multiple trend horizons and timeframe-specific support/resistance levels simultaneously.

Usage

The Usage section describes how the script can be used, examples should be provided in this section. This tool is designed for traders who require a clean way to view various moving average lengths (e.g., 9, 20, 50, 100, and 200) without cluttering their indicator list.

• Trend Identification: Users can plot multiple Exponential Moving Averages (EMA) to identify trend strength via the "fan" effect (separation between lines).
• Multi-Timeframe Analysis: By adjusting the Timeframe setting for a specific moving average, a trader can view a Daily 200-period SMA while charting on a 1-hour timeframe.
• Dynamic Levels: The script includes a "Show Lines" feature that extends the current moving average value as a horizontal level to the right of the price action, aiding in visual target setting.
• Customization: Each of the five slots can be toggled on or off, and users can select different calculation types (SMA, EMA, SMMA, WMA, VWMA) for each individual slot.

Details

The script utilizes request.security to fetch data for multi-timeframe moving averages. It includes built-in logic to ensure that higher timeframe averages are only displayed when the chart timeframe is lower or equal to the requested timeframe, preventing visual distortions.

The indicator supports five different calculation methods:

• SMA: Simple Moving Average.
• EMA: Exponential Moving Average.
• SMMA (RMA): Smoothed Moving Average, commonly used in the RSI calculation.
• WMA: Weighted Moving Average.
• VWMA: Volume Weighted Moving Average.

Settings

• Display: Toggles the visibility of the specific moving average slot.
• Type: Selects the mathematical calculation method (SMA, EMA, SMMA, WMA, or VWMA).
• Length: Sets the lookback period for the calculation.
• Source: Determines the price data used (e.g., Close, Open, High, Low).
• Offset: Shifts the plot forward or backward in time.
• Timeframe: Sets the specific timeframe for the calculation; if left blank, it uses the chart's current timeframe.
• Width/Color: Customizes the visual appearance of each line.
• Wait for timeframe closes: When enabled, multi-timeframe values will only update once the higher timeframe bar completes, preventing repainting.
• Show Plots: Displays the historical line on the chart.
• Show Lines: Displays a horizontal dashed line at the current value of the moving average.
• Lines Offset/Length: Controls the positioning and span of the horizontal line extension.

FAQ

How can I view a Daily moving average on a 15-minute chart?
Select one of the moving average slots, and in the "Timeframe" dropdown, select "1D". The script will then calculate and display that daily value across your intraday chart.

Why does a moving average disappear when I change timeframes?
The indicator is programmed to hide moving averages if the chart's timeframe is higher than the moving average's assigned timeframe to maintain data integrity and prevent calculation errors.

How do I get access to the Multiple Moving Averages indicator?
You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.