EMA full form is *Exponential moving average*. you can google this for detailed explaination and formula.
I use 30 week EMA for my stoploss that means, the length chosen is last 30 week on weekly timeframe. if you are using daily timeframe you can use 150 Day EMA (as 5 working days for week * 3o weeks).
NOTE- The length choosen is not an fix and not compulsory for use. i use this length from trader whom i follow. Try and backtest different lengths (EX. on weekly-12,30,40 and on daily-21,50,150,200) use which suits your style and pace
TO SET EMA ON YOUR CHART- choose Timeframe as W (week) 1. Go to indicator and strategies on top of chart 2. search Exponential moving average select first inbuilt option 3. Set length as 30 click OK. Now you are ready to use.
Hello ,
I hope you can answer my simple query about Moving averages indicator in general :
when toggling between daily charts & weekly charts ---do we have have to change the input tab which has indicator timeframe ---default value is --'same as chart' ...is that enough ? or do we change the input to 'daily' when viewing daily charts and to 'weekly' when viewing weekly charts ?
Money_Monk
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@northguleria keep it 'default' as 'same as chart' so it takes which ever timeframe you are currently working. Focus on length part...you have to change length as you change your timeframe...If you want constant period
northguleria
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@Money_Monk,
Bro thanks for the response so let me explain : .if daily 20MA & 50MA is used in daily time frame thereafter after changing to weekly ,do we change 20 to 20/5=4MA on weekly & 50/5=10 MA on weekly or tradingview will convert automatically , if we select 'indicator timeframe' input as 'same as chart'?
thats my main confusion ?
Money_Monk
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@northguleria, you have to change only length as you explained which is *correct* keep other parameters *unchanged*. Tradingview don't converts length automatically, it only changes timeframe automatically.
northguleria
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@Money_Monk,
Thanks a ton ...this was very helpful ..appreciate your inputs !! Cheers
I hope you can answer my simple query about Moving averages indicator in general :
when toggling between daily charts & weekly charts ---do we have have to change the input tab which has indicator timeframe ---default value is --'same as chart' ...is that enough ? or do we change the input to 'daily' when viewing daily charts and to 'weekly' when viewing weekly charts ?