Multi Moving Average indicator - is an indicator that displays information about four moving averages in the "basement" part of the price chart.
The idea of the indicator was born in an attempt to "unload" the price chart as much as possible. First of all it was about moving averages - It was necessary to remove them from the chart and at the same time to keep the necessary information.
The trading indicator has several functions:
- Displays the current state of the moving average - up or down. (colored accordingly)
- Shows the position of the moving average in relation to the price (or MA with period 1) - above or below (coloring of the text label in the appropriate color).
The indicator is very convenient in terms of settings: the input parameters of each of the four MA separately are placed in the global variables:
- Averaging period (period).
- Moving average calculation method (ma_method).
- The price used to calculate the moving average (applied_price).
- Flexible text label settings
According to ForTrader.org experts, by setting appropriate moving average periods in Multi Moving Average indicator, you can judge about the general trend on the market, while leaving the price chart free