Hourly 50\100\200 EMA on 5M bars
Hello. This script was created for traders using a 5 minute timeframe. The script allows you to plot EMA from a higher level timeframe. Its formula includes the multiplication of the classical values of 50/100/200 EMA by 12, because in one hour it is 12 times for 5 minutes. You must use script only at 5M timeframe, because his interval is unique and not compare with other timeframes.
Often, an hourly EMA on a 5-minute timeframe becomes a strong level of support or price resistance. You can use this script on 5M timeframe with "daily 50/100/200 EMA" script on 1H timeframe for best scalping results.
Good luck in trading!
Often, an hourly EMA on a 5-minute timeframe becomes a strong level of support or price resistance. You can use this script on 5M timeframe with "daily 50/100/200 EMA" script on 1H timeframe for best scalping results.
Good luck in trading!
