This is a multiple multi-timeframe version of famous supertrernd only with Heikin Ashi as source. Atr which stands in the heart of supertrend is calculated based on heikin-ashi bars which omits a great deal of noises.
with 6 multiplication of the supertrend, its simply much easier to spot trend direction or use it as trailing stop with several levels available....
This indicator was made specifically to trigger alerts when multiple EMA lines are converging on multiple time frames.
You change which 3 time frames it looks at (Default 1h, 3h, D) and 3 EMA lengths (Default 8,21,100).
You can also change the threshold in which the convergence is triggered (How tight the convergence must be to trigger (Default 1))
It uses ATR...
Good afternoon traders.
Have you ever got trapped on the middle of a consolidation? Well, it just happened to me trading the 1 minute chart last friday!
So, I coded this script to display a percentage of ATR for a given resolution.
Now, how can you benefit using this information?
For example:
Using the standard settings (resolution is calibrated 15 minutes...
