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Long Term: Cumulative Moving AverageWho to use? This indicator is for Long Term Investors or for Position trading and not for Day traders. What time-frame to use? • Daily, Weekly or Monthly What is Blue line? • Blue line is Cumulative Moving Average. It is cumulative sum of closing price. • It is a trend reversal level. • It is a strong support level. • If price is below Blue line better not to take any Long position until it crosses above it. What are Red lines? • Red lines are Multiplier levels. • These are target levels to exit the position. • It can be breakout or pull back levels. • The level combination numbers can be fully odd or even numbers. • For example in certain stocks the working levels will be 1x, 3x, 5x etc., in others it will be even numbers like 2x, 4x, 6x etc. • In some cases the levels need to be tweaked with custom decimals like 1.1x, 2.1x, 3.1x, 4.1x etc. to align the support & resistance levels. How to use? Entry • Enter when the Price reach closer to the Blue line. • Enter Long when the Price takes a pullback or breakout at the Red lines. Exit • Exit position when the Price reach closer to the Red lines in Long positions. Indicator Menu • Works only in higher time-frames like D, W & M. • Will not work in Lower time-frames less than "D" or the Launch Date shows wrong in Lower time-frames. Multipliers: (Read above What are Red lines?) Launch Date: • Launch Date: Starting date of stock when it appeared in the exchange. Works only in D, W & M timeframes. • Years: Total number of years from the Launch Date. Accurate date will be shown in Daily timeframe. • Candles Count: Total number of candles from the Launch Date in the current timeframe. Labels: • First number is last traded price. • Second number in () is percentage change from last traded price to that level.
Pine Script® indicator
by Arun_K_Bhaskar
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