Each timeframe scores plus one, minus one or zero, and the four are summed into an alignment score from minus four to plus four. It plots in a separate pane, with reference lines at full alignment and a background tint when all four agree. The average can be SMA, EMA or WMA.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Moving Average Type
string
EMA
ma_type
MA Length
int
20
ma_length
Timeframe 1
timeframe
15
tf1
Timeframe 2
timeframe
60
tf2
Timeframe 3
timeframe
240
tf3
Timeframe 4
timeframe
1D
tf4
Bullish Color
color
#089981
bull_color
Bearish Color
color
#f23645
bear_color
Neutral Color
color
color.new(#2a2e39, 0)
neutral_color
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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