Learning about Exponential Moving Average
EMA full form is *Exponential moving average*. you can google this for detailed explaination and formula.
I use 30 week EMA for my stoploss that means, the length chosen is last 30 week on weekly timeframe.
if you are using daily timeframe you can use 150 Day EMA (as 5 working days for week * 3o weeks).
NOTE- The length choosen is not an fix and not compulsory for use. i use this length from trader whom i follow. Try and backtest different lengths (EX. on weekly-12,30,40 and on daily-21,50,150,200) use which suits your style and pace
TO SET EMA ON YOUR CHART- choose Timeframe as W (week)
1. Go to indicator and strategies on top of chart
2. search Exponential moving average select first inbuilt option
3. Set length as 30 click OK.
Now you are ready to use.
I use 30 week EMA for my stoploss that means, the length chosen is last 30 week on weekly timeframe.
if you are using daily timeframe you can use 150 Day EMA (as 5 working days for week * 3o weeks).
NOTE- The length choosen is not an fix and not compulsory for use. i use this length from trader whom i follow. Try and backtest different lengths (EX. on weekly-12,30,40 and on daily-21,50,150,200) use which suits your style and pace
TO SET EMA ON YOUR CHART- choose Timeframe as W (week)
1. Go to indicator and strategies on top of chart
2. search Exponential moving average select first inbuilt option
3. Set length as 30 click OK.
Now you are ready to use.
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