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I downloaded the 60 min EMA indicator that Al created, but no luck installing it, so I use the 200 EMA. I see price reactions often enough with it, so I keep using it. Any opinions on using the 200 vs 221 or 60 min 20 on 5 / etc. ? thanks
Hi w,
I'm using EMA(60) to match the 15M EMA and EMA(221) to match the 60M EMA on the 5M chart. They work great. But honestly there's no need to be perfectly exact with this. Close is close enough for EMAs.
Hope that helps,
CH
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Agree with Mr. Carpet. Also, a benefit of using the EMA221 for the 5-min chart is a smoother line. I found that Al's indicator produced a jagged (still accurate) line due to the frequency of gaps. Small nit, and when you look at PA off the 60min EMA, it's an area vs. a line in the sand, so to speak, so 220 vs. 221 is not going to matter.
Thank you. I switched to the 221.
I heard Al say something like he views support & resistance as a zone, painted with a fat paint brush, instead of a fine line.
