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If trading a 10 min chart, do we use the same EMAs ? (20 EMA and 221 EMA)
(note: using 221 EMA to mimic the 60 min chart's 20 EMA)
thanks 🍟 🍸
The 20 emas work ok for any time frames but the 221( o 220, t's the same) works only on the 5M because it's given by the relation between 5M and 60M TFs as shown in the video.
For the 10M:
60M/10M=6 6*20=120
Since it's mentioned that the 220 it's better you can just divide that by 2 so you can use the 110 ema on the 10M.
Thanks for that link, perfect
Regarding the 20 EMA......
On the 5 min chart (with 20 EMA):
- 99% of days have 1 close above EMA
- 1-3 highs above EMA
So on the 10 min chart, should we use the 10 EMA instead of 20 EMA? (Half as many bars, so split EMA in half)?
MNQ 10 min chart comparison (20 EMA & 10 EMA):
If we use the 20 EMA, then this is a world record (no high above EMA)
Using the 10 EMA, it's just a normal very strong bear trend
You're welcome. The 99% statistics it's exclusively for the 5M. On higher TFs it happens that the bars don't touch the 20 ema even for days. ( As 5M bars can stay away from the ema for 30 or more bars, so can the 15M or 60M ones , but that means more time).
Well, the 10 ema stays close to price action so it reacts earlier to PBs, so I guess if you're working on Higher timeframes but still intraday it makes sense, especially if you buy and sell at the ema, otherwise in trend days there's no touches at all.
Use fib numbers. EMA5,8,13,21,34,55 etc. For 5m chart, use EMA21, and for 10m chart, use EMA13.