DislikedGuys, here is my 2 cents.. let say you are trading on 1min chart with TMA (1min timeframe and halflength 56), to determine trend you can just add another TMA on chart with timeframe set to 15M chart (halflength 56) if higher TMA facing south take only short trades or vice versa for long.Ignored
altoronto came up with a great idea that I would like to underline.
The idea is to overlay the TMA from a higher timeframe (just change the input for "TimeFrame") to identify if the pair is trending or ranging. You might miss some trades in the transition period of a trend change from a higher timeframe view, but most of the time you will be more safe and not trading against the higher trend (I think Favorite mentioned several times NOT to trade against the H1 trend...and he is totally right ).
For my template I added the following TMA indicators and made them visible only in the desired timeframe. I also changed the line styles to make them visually differentiable.
- M15 (15) -> for M1/M5
- H1 (60) -> for M15
- H4 (240) -> for M30/H1
- D1 (1440) -> for H4
My charts looks like below. What do you think, guys?