Session Moving Averages

2 ส.ค. 2023

Adds EMAs and SMAs to chart using 8am-8pm EST values. Completely configurable in settings.

Some platforms allow users to configure what time frame they would like to view market data. One popular selection is 8am-8pm EST as 8am is when institutional orders go through. An argument can be made that price action before 8am EST is not valid yet moving averages will use that data.

This matters less for shorter moving averages such as a 9 or 20 ema, but it dramatically changes the 200 or the 50 sma for example.

This script allows you to ignore that pre-market data (or any data you choose to configure in the settings) and select up to 3 moving averages (either Exponential or Simple) for a set time.

By default the moving averages include the 9-ema (gray), 20-ema (green), and 200-sma (purple) and is set to 8am-8pm EST

This is configurable in the settings including the time frame you would like the moving averages to start using market data.

By default the script will use your charts timeframe. You are able to use multi-time frames with this script just scroll down to "timeframe", then click "chart" in settings... this will then allow you to select a timeframe.

A popular choice is 5-minute value of 8am-8pm EST moving averages. This means regardless of the time frame you are on (sub 1-minute, 1-minute, etc.) the script will display 5-minute data.

Final note: In settings you are able to turn on/off shapes (the gray lines at the bottom) which shows when the data is being used. This can be helpful on certain tickers that trade continuously such as /ES or /NQ.