Weekly MA60 (Show on Any Chart)

📘 Description: Weekly MA60 (Show on Any Chart)

This indicator displays the 60-period Moving Average (MA) calculated on the weekly timeframe, regardless of which chart timeframe you’re currently viewing (for example, it shows the weekly MA60 even on a daily chart).

It’s useful for traders who want to keep track of higher-timeframe trend direction while analyzing lower-timeframe price action.

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🧩 How It Works
• The script uses the request.security() function to fetch data from the weekly timeframe.
• It then calculates either a Simple Moving Average (SMA) or an Exponential Moving Average (EMA) over 60 periods.
• The resulting value is plotted directly on your active chart (daily, 4H, etc.), allowing you to visualize the long-term trend without switching timeframes.

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⚙️ Settings
• Period: default = 60
• Source: default = close
• Type: choose between SMA or EMA

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💡 Use Cases
• Identify whether the current price is above or below the weekly trend while working on lower-timeframe setups.
• Combine with daily MAs or shorter EMAs for multi-timeframe confluence.
• Great for swing traders and position traders who monitor long-term momentum while refining entries on the daily or 4H chart.

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🛠 Technical Notes
• Built in Pine Script® v6 for full compatibility.
• Uses barmerge.gaps_off and barmerge.lookahead_off for accurate data alignment.
• Minimal and optimized for overlay display (no separate window).