If price action is above the 50ema + 105ema on the 30-minute chart, be bullish. If price action is below the 50ema + 105ema on the 30-minute chart, be bearish. If price action is in-between buy off the lower when it acts like support and sell near the top ema which will act like resistance.
The purpose of this indicator is to show these 30-minute moving averages -- regardless of timeframe. This will only appear if you are using an intraday timeframe.
I tried 50 + 105 EMA on a 5 minute chart for SPX. It worked like a charm. Thank you.
MattDeLong
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To use this script, click the star button above ^^ "Add to Favorite Scripts". Then go to your trading view "charts" screen, click on the "fx" looking icon on the tool bar and click on "Favorites" on the left. Find "50ema + 105ema" on the right side and click on it -- it should now add this indicator to your chart.
Trade_with_ICE
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Thanks Matt... Reallifetrading for life :)
BTW whats the difference of the ema 20 + ema 105? That script is working fine with me.
MattDeLong
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@iceman600, The 20/105ema is used by RLT for day trading te 50/105ema is used by RLT for swing trading.