OPEN-SOURCE SCRIPT
Aggiornato

MAGICAL 50 LINE

97
Explanation:
Indicator Declaration: The script declares an indicator to overlay on the chart.
Time Calculation: Calculates the start time of the first 5-minute candle, assuming it begins at 9:15 AM.
First Candle Close: It gets the closing price of the first 5-minute candle.
Calculate +50: It calculates the level 50 points above the closing price.
Plot Line: It plots a line at the calculated +50 level in green.
This script will draw a line on your chart at the specified level, providing a visual reference for your analysis. If you have any other requests or modifications, just let me know! 😊
Note di rilascio
Explanation:
Indicator Declaration: The script declares an indicator to overlay on the chart.
Time Calculation: Calculates the start time of the first 5-minute candle, assuming it begins at 9:15 AM.
First Candle Close: It gets the closing price of the first 5-minute candle.
Calculate +50: It calculates the level 50 points above the closing price.
Plot Line: It plots a line at the calculated +50 level in green.
This script will draw a line on your chart at the specified level, providing a visual reference for your analysis. If you have any other requests or modifications, just let me know! 😊
Indicator Declaration: The script starts by declaring an indicator that overlays on the chart.
HMA Function: A function hma is defined to calculate the Hull Moving Average using the weighted moving average (WMA).
HMA Calculation:
HMA for 30: It calculates the HMA for a period of 30.
HMA for 44: It calculates the HMA for a period of 44.
Plotting:
The HMA 30 is plotted in blue.
The HMA 44 is plotted in red.
This script will help you visualize the two HMAs on your chart, making it easier to analyze trends. If you have any more questions or need further modifications, feel free to ask! 😊

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