BlueSkyBreakout

Investing - Weekly EMA's mapped to Daily Chart

When there isn't enough time in your day to day-trade, yet you want to utilise all the technical analysis skills you have... why not make a long term investing or swing trading indicator set to help you along the way!

So I did....

When it comes to long term investing and swing trading, I often find the weekly 12/26/52 EMA's do a great job in capturing the main market swings from bull to bear.

However, I like to use the Daily chart to see the candle patterns and shapes with more detail and divergences often show up better on the daily chart .

So I have decided to combine the two!

I have basically taken the EMA 12/26/52 from the weekly and transferred them over to the daily (mathematically they are not exact, but for me they are close enough).

I have also developed a simple scale in / scale out strategy for using these exponential moving averages. It isn't as simple as buying in on each signal, however I use my own special strategy to take advantage of the alerts.

Enjoy!
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Comments

Great and effective! Thanks!
Reply
For Long term Investing in shares or stocks I change the strategy script to EMA12/26/52 (Which is EMA 84/182/364).. seems to do a better job
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