Moving averages are the most important indicators when it comes to technical analysis.
Welcome to the first blog of Valuable Indicators series on the Blog. This series covers a lot of different trading indicators that I have found over trading view. This indicators are a great help in bringing confluence into your trading system.
So lets start with his indicator. What’s special about this MA indicator, well it changes colors.
2 moving average color direction detection
How does the 2 Moving Average Color Detection Direction Indicator work?
The 2 Direction moving average as the name suggests is indicator that plots 2 moving averages on screen. the default settings plot the 8-20 Moving moving averages, which you can change in settings.
How do i use this Moving averages?
- This indicators special color changing feature gives an edge as compared to the normal MA.
- This indicators helps you plot not just SMA but also EMA,,TEMA, DEMA, WMA, Hull MA and etc. averages.
- We can gauge the trend with different colors. That is if one MA shows green and other red the market is in confusion.
- Can help get good signals including entry and exit points.
- if used with ADX has good reward percentage.
You can use this indicator for more confluence as this indicator gives an edge over the normal MA indicator. The author has provided for various other amenities like the other types of averages like the EMA, Hull mA etc. This indicator is free on trading view and anyone can use it.
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1 thought on “Moving average with trend color detection – Valuable Indicator”
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