Sale!

Multiple Timeframe Moving Averages for ThinkOrSwim

$69.99

No matter what nautical chart my focus is on, my goal is to ever merchandise in the direction of the higher timeframe trends. Basically to trade in harmony with the larger forces that are at play. To achieve this, I use multiple timeframe moving averages.

Clarification

Why Use Multiple Timeframe Moving Averages?

So why should you consider using multiple timeframe moving averages? In the blazon of trading I do, I rely heavily on the xx-period SMA as a reference indicate for intraday trend identification. I was taught by my mentors to trade on a lower timeframe such as the 2-infinitesimal nautical chart (early in the morning) or the 5-minute or xv-infinitesimal chart (afterward in the day). Merely no affair what chart my focus is on, the goal is to always attempt to trade in the direction of the higher timeframe trends. Basically to merchandise in harmony with the larger forces that are at play. To accomplish this, I employ multiple timeframe analysis of a single stock, keeping multiple charts of the stock open at i fourth dimension. And depending on the time of day, I might accept a 1 or ii′ chart, a 5′ nautical chart, a 15′ or lx′ chart, and the daily or weekly chart open up.

Soon I began to realize that it would assist me simplify things and conserve screen space if I could analyze the college timeframe charts while merely using the lower timeframe chart. Afterward all, the aforementioned information is all there, it's but presented differently. Over time, ane mode I've found to do this is by calculating a higher timeframe simple moving average and displaying information technology on a lower timeframe. This will tell me how extended price is on multiple timeframes, or how deep a pullback is and thus how attractive a given setup looks across multiple charts, all without leaving the chart I'm currently working from. You will be surprised at how often a 20 period simple moving average from, say, a xv′ chart, acts as support on a 5′ or 2′ chart.

Non So Fast

In guild to make a college timeframe SMA accurately show upward on a lower timeframe, you can't merely use a longer SMA on the same timeframe … in that location are subtle but real differences in the locations of the averages due to more data existence used to summate the longer SMA from the lower timeframe chart, and I've constitute that the true higher timeframe averages are more reliable as support and resistance, since they are what longer-term traders on those higher timeframes are actually looking at and basing their trades on.

The Solution

So to solve this dilemma and make life easier on myself, I somewhen developed a report that allows me to add Any higher timeframe MA to whatsoever lower timeframe chart. I trade off the 20 SMA, but if you trade the 21, 25, 10, 50, or viii, this indicator tin easily piece of work for those besides. It tin can also permit y'all to plot multiple timeframe moving averages on the same nautical chart. Say you're on a two′ and like using the 10-period exponential MA on higher timeframes. You tin can add together the 10-menses EMA from the 5′, 10′, 15′, 30′, threescore′, and iv-hour, etc., all on the aforementioned two′ chart at the aforementioned time. Or yous could mix it up and add the fifty catamenia simple moving boilerplate from one timeframe, the 20 menstruation Wilders Moving Average from another timeframe, and the x period Hull Moving Boilerplate from yet another timeframe, all on the same lower timeframe chart. The possibilities are pretty countless and tin can easily accommodate whatever your trading system needs. You lot can also hands color-code each multiple timeframe moving average to make them easily identifiable.

What You Get

This indicator plots college timeframe moving averages on a lower timeframe chart. I've recently updated this study to version ii.0 and added some great new features:

  • NEW! Cull ANY moving average type (unproblematic, exponential, weighted, Wilders, Hull)
  • NEW! Cull your own price type to summate the average from (close, open, low, high, VWAP, OHLC4, etc.)
  • NEW ALERTS! Optional chime and Message Heart Detect when the electric current chart's bar closing price crosses higher up/below the MA.
  • Set the moving average's higher aggregation period or timeframe (months, weeks, days, hours, minutes, etc. Notation: MUST BE GREATER THAN OR EQUAL TO THE Chart TIMEFRAME!)
  • Cull the moving average length
  • Specify the average'due south color and plot style
  • Add equally many copies/instances of the indicator to your nautical chart as y'all want to view trends from multiple higher timeframes on one lower timeframe chart.
  • NEW SCANS! Packet now comes with 2 custom browse presets that allow you to scan for stocks that are above or below 3 different MAs on iii different timeframes. Can be expanded to include more or fewer timeframes if desired, and the boilerplate types and lengths tin can be easily customized.
Multiple timeframe moving averages for ThinkOrSwim
Multiple timeframe moving averages for ThinkOrSwim (click to enlarge)


highertimeframeSMAexamplechart

Notes

Due to how Thinkorswim builds the hourly (60 minute) bars on charts displaying regular trading hours data just, using a sixty′ MA on a lower timeframe chart that only uses regular trading hours is not recommended — the line volition expect "choppy" and dashed. Instead, y'all can utilize the sixty′ MA on anautical chart that has Extended Hours enabled, and that will piece of work perfectly. It'due south only the 60′ on a regular hours only chart that has incompatibilities.

Questions?

We're always happy to answer questions, and total email support is provided with every purchase! Nosotros'll make sure you get up and running. If you accept questions, e-mail us here or leave a annotate below!