The concept is simple: Plotting Price behavior within several periods of time.
Some Symbols behave very well during the trading day – with this I mean Intraday trading – and this behavior ends up plotting effectively well with the proposed Exponential Moving Averages in this indicator…
Obviously that this behavior could not be seen in all Symbols, but you can give it a try… Just drop this indicator in a chart and you will see for yourself…
This indicator is intended for “Feeling the Trend” purposes. Visual cues are very effective for traders, that’s why I created this for our fellow traders in our brotherhood…
OK! You can put 6 MA’s manually on your chart, but doing this very often and again and again is pure pain. So this indicator is a kind of a shortcut for it. It has 6 Moving Averages completely customizable in Time Period, Style and Color. The presets are the best I could set for M1, M5 and M15, and, following a visual pattern of Hot-to-Cold color approach – hot colors for faster MA’s, colder colors for long MA’s – ending up with the last MA with a dashed gray line representing the whole Trading Period (day)…
Many traders would be amazed with the patterns… You can give a try!
