Support Bands indicator

28 paź 2022

Support Band to follow Trends.
We can see clear where price is Trading. Observe how moving averages are developing or aligning to change trend or continuation.
Green up trend vs Red Down Trend

Band 1
8EMA Green Line vs 10SMA Light blue Line

Band 2
21EMA Orange Line vs 30 SMA Brown Line

Also includes
1 SMA Gray line for closing when you're looking at weakly charts.
40 SMA darker Gray
50 SMA Blue
100 SMA White
150 SMA Pink
200 SMA Yellow
300 SMA Dark Red

I hope it helps you to see when price is trending up and a set correctly your stop.

27 lis 2022

Informacje o Wersji

I add the name of the Moving averages
Labels with Red or Green "C" Appears indicating Crossing to Watch closer
Labels with "UpT" or "DnT" when the longer trend is developing.
This will help a beginner like you and me to have a visual trend development and have a better technical analysis of the cycle of a movement
Please if you like leave a comment what will good to improve. Thanks

13 lut 2023

Informacje o Wersji

Optional labels to identify trends.

26 paź 2023

Informacje o Wersji

Support Bands will provide multiple moving averages base in 2 books. You can Test it in your paper account and see if the provides important information that can be helpful to identify Areas of Interest.

1 Secrets for Profiting in Bull and Bear Markets. By Stan Weinstein's.

This one Mention a higher timeframe in a weekly chart where the 30 SMA is the most important moving average for Stan. "While this key long-term indicator isn't infallible and will give you occasional whipsaw signal. It is incredible reliable. No bear market in the past several decades has unfolded without this gauge flashing a negative signal. Study chart 8-1." Stand W. Secrets for profiting in Bull and Bear Markets. Chapter 8 page 271.
I add the 21 EMA to his strategy as a case of study to observe momentum decreasing when Visually the Band is closing and changing color. Support Band 2 Long Term Band. Weekly timeframe.

2 Technical Analysis Using Multiple Timeframes. By Brian Shannon.

Multiple timeframes analysis based on 5SMA and in a lower timeframes such 10,15, 30, and 65 minutes. " Amateur technicians often analyze moving averages in search of literal entry and exit levels, while most experienced traders study moving averages to help determine the unfolding psychological shifts in the market sentiment so they can anticipate a low-risk, high probability trading scenario. Study chart." Technical Analysis Using Multiple Timeframes. By Brian Shannon. Chapter 8 page 92.

In addition the 50 SMA you can choose the Source and change the SMA to the one of your preference depending on the timeframe that you're looking at. it will show Green color when Price Closes Above the SMA, and Red when it Closes Below.

Also we have most common Moving Average used by great Technical analysts.
Supports Band 1 Short Term Band. Daily.

I did not add the VWAP for the only reason that the anchored VWAP from Tradingview works Excellent for me.

I hope as a Beginner you can take advantage of using only 1 indicator to uses multiple moving average to make your analysis in a multiple timeframe.

Thanks.