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3 EMAs based on 3 time frames on one chart/panel?
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3 EMAs based on 3 time frames on one chart/panel?
I trade a 5 minute chart and use a 20period EMA. A while ago I added a second 20period EMA based on a 60 minute chart to my 5min chart, but I did so only by also adding an actual 60min chart to my 5min chart and changing the 60min’s 20ema to the 5min chart’s panel . Once the 5min chart is open, I keep the 60min bar chart collapsed to a minimum, so it can barely be seen. (This is an ugly and cumbersome workaround, however.) Anyway, is it possible to simply add 3 EMAs based 3 different time frames (a 5min, a 15min, and a 60min) to a single chart? You can do this very easily in Tradestation and I’m sure it must be possible in NT7—I just don’t know how. Thank you.Tags: None
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There is a multitimeframe, multiMA indy called xcMovAvg downloadable here on the Version 7 Indicators section. It should provide what you're looking for, known.
Here is the link:
Last edited by gain247; 09-10-2012, 04:49 PM.
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There are different ways you can add EMAs of several timeframes to a chart. Let us assume that you have a 5 min chart and want to see a 20-period EMA calculated from 5 min bars, 15 min bars and 60 min bars.
Solution 1: You add 15 min bars and 60 min bars to your primary chart panel and set them to transparent. You can now add the indicators by selecting the 5, 15 and 60 min bars as input series. This works very well, but has one negative point, which is the non-equidistant bar spacing. The non-equidistant bar spacing disturbs, if you want to do this with tick bars.
Solution 2: You may use an indicator, which calculates composite bars from the primary bars. The indicator takes three 5-min bars to calculate a 15 min bars and then performs the calculations to obtain the indicator values. Such an indicator will only require the primary bar series and will solve the problem of non-equidistant bar spacing. However, you are limited to integer multiples of the original bar period with this approach. For example you cannot display an EMA calculated from minute bars on a tick chart.
Solution 3: Use a genuine multi-timeframe indicator, which loads a secondary bar series and calculates the indicator values from those bar series. This allows you to calculate indicator values from minute, tick, volume or range bars and display them on the chart. A free version of this Visual EMA is available here (membership required).
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Sample charts attached for all 3 solutions. For obtaining the VisualEMA, you can also send me a private message.Last edited by Harry; 09-11-2012, 03:15 AM.
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