TimeLy Moving Average - TMA

The TimeLy Moving Average - TMA indicator provides dynamic moving averages based on time-based periodic cycles, helping traders visualize price trends across hourly, daily, weekly, or monthly intervals directly on their current chart.

Usage

The Usage of the TimeLy Moving Average - TMA centers on identifying trend direction within specific time-bound windows. Unlike standard moving averages that use a fixed lookback period, this tool adjusts its calculation period progressively based on the time elapsed within the selected cycle.

Timeframe Requirements

To ensure accurate data visualization, the indicator requires specific chart intervals depending on the selected cycle:

• Hourly Average: The chart interval must be set to 60 minutes or less.
• Daily Average: The chart must be set to at least a 6-second interval or any minute-based timeframe.
• Weekly Average: The chart must be set to at least a 1-minute interval.
• Monthly Average: The chart interval must be 10 minutes or higher.

If these conditions are not met, the indicator will return a null value (NaN) to prevent misleading calculations.

Details

The script functions by identifying the start of a new time period (hour, day, week, or month) using the switch and timeframe functions. It calculates the number of bars that have passed since the beginning of the current period and uses this dynamic value as the length for the moving average.

This approach allows the average to "reset" and grow as the time cycle progresses, providing a unique perspective on how current price action compares to the mean of the current period. The script also includes built-in labels to display the current value of the moving average and alerts for price crossovers to assist in timely trade execution.

Settings

• Time: Determines the periodic cycle for the calculation (Hourly, Daily, Weekly, or Monthly).
• MA Type: Selects the mathematical method for the calculation, offering either Simple Moving Average (SMA) or Weighted Moving Average (WMA).
• Source: Specifies the price data point used for the calculation, such as Close, Open, High, or Low.

FAQ

What is the primary advantage of the TimeLy Moving Average?

The TMA allows you to see how the current price is performing relative to the average of a specific time cycle (like the current day or week) without needing to switch chart timeframes.

Why is the TMA line not appearing on my chart?

The indicator has built-in timeframe constraints to maintain calculation integrity. Ensure your chart interval matches the requirements for the selected "Time" setting (e.g., use a timeframe under 60 minutes for the Hourly Average).

How can I access the TimeLy Moving Average - TMA?

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