OPEN-SOURCE SCRIPT
EMAs Daily Reset
Updated
This indicator displays 3 EMAs that recalculate every day.
This is useful for intraday trading by removing the bias of the previous day's ema price. This ensures your EMAs stay near the most current price action.
Note: If your length is larger than the number of bars in the day, your EMAs will not have time to properly catch up in the day.
This is useful for intraday trading by removing the bias of the previous day's ema price. This ensures your EMAs stay near the most current price action.
Note: If your length is larger than the number of bars in the day, your EMAs will not have time to properly catch up in the day.
Release Notes
Added options for moving average type because of a request from a user,Now included:
SMA,EMA,WMA,VWMA,RMA
Release Notes
formatting error resolvedRelease Notes
-Added "Calculation Period"This allows for you to control the period at which the moving averages reset.
Default is 1 day = MAs reset upon new daily candle, 1 hour = MAs reset upon new 1H candle, etc.
-Added "HoB/LoB" as sources
High of Body and Low of Body
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 publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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