How do I represent weekly/daily timeframe on 4 hr chart?
I'm trading FOREX. I'd like to represent a weekly/daily chart (price average) on the daily time frame, so it appears like a line, much like an ema does. I would like to see the higher time frame for trend direction on the lower time chart. So if I'm on the hourly chart to enter a trade, I can see the trend for the weekly and/or daily represented on the hourly. Is what I'm looking to do really an ema? I'm new at trading. Thanks for your help.
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I kind of understand. Still a bit confusing. Not with your explanation, but how to do this. It would be great if I could be on the daily chart, turn it into a line chart, and add this to the 4 hr chart. I'm not so much wanting an ema, as I just want to see the trend appear on the lower time frame, instead of moving back and forth between the charts.
Ah, ok, "i'm sorry. You want to OVERLAY one time frame onto another. I have no idea how to do that, sorry. Also, keep in mind that the scaling may get screwed up.
megamuel
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You should be able to get an indicator programmed up for that. If you want it done quickly you could go to a website like freelancer.com and ask someone to program it for you. Will probably cost around $30 dollars and will not take long..... Otherwise you might spend weeks searching around for it on the internet. I've never seen an indicator that shows daily and weekly line charts on the 4 hr time frame although I have an indicator that shows 4 hour candles on 1 hour time frame! Try freelancer.com or elance.com
Once you have paid for it, share it here
Sam.
Once you have paid for it, share it here
Sam.
wackypete2
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I think you are making things much harder than you have to. A moving average based on a daily chart won't change during the day. Why do you need to see it all day? It won't change hour to hour.
Also, if the daily ema may be at a price level that is way off from your hourly chart so it won't even show up unless you zoom out several times.
Peter
Also, if the daily ema may be at a price level that is way off from your hourly chart so it won't even show up unless you zoom out several times.
Peter
price777999
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i would use super trend , if you set the multiplier to 24 on the H4 charts you will get the weekly trend near enough .
Shakone
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I think you're making this harder than necessary.
Take a horizontal line and draw in the weekly close on your 4 hour chart. I don't know what your charting package is but you should be able to find a way to draw a line where you can choose start and end point. Draw a few of these and you're done. I don't know how weeks back your 4 hour chart goes, but I don't imagine it will take very long to draw enough lines in.
Take a horizontal line and draw in the weekly close on your 4 hour chart. I don't know what your charting package is but you should be able to find a way to draw a line where you can choose start and end point. Draw a few of these and you're done. I don't know how weeks back your 4 hour chart goes, but I don't imagine it will take very long to draw enough lines in.
sighthound
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Not sure if this is what you are looking for might be worth a try.Pick a chart if using MT4,start with the Daily, magnify the chart and then use the Rectangle shading tool and shade the High to Low.
Then still on the same Daily chart shade the Open/Close.(change colour of shade).
On the same chart change to what Timeframes you wish.
If using multiple charts repeat the same process for every seperate chart starting with the Daily
