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Is there a way to represent a daily sma on an hourly chart?
I primarily use weekly, daily and hourly charts, with the daily being my main decision chart but the hourly chart being where the actual trade is made. I would like to represent the 10 day sma and the 20 day sma on my hourly chart.
Is this possible?
If so, how would I do this?
However, for the moving averages, I think your two suggestions above (multiplying 10 x 6.5 hours/day, and horizontal lines for the 10 dma for the previous day) hold more promise. Though the 65 hma is not the same as the 10 dma, it is at least helpful on the hourly chart.
I would like to add that SCC has converted and adopted the 200 period MA and 50 period MA on daily charts to the 40 period MA and 10 period MA, respectively on Weekly charts. I went for a long time not knowing this. I quickly updated my settings once I figured this out.
This may be slightly off topic, but I wanted to mention it: One thing I learned recently about Moving Averages is that they have a time horizon classification:
Long-term: 100 + periods (200 is popular)
Medium-term: 20 to 60 periods (50 is popular)
Short-term: 5 to 20 periods (20 is popular)
This classification should contain price. Otherwise, you may have to adjust values.
My presumption is that this classification construct should apply to at least daily and intraday periods, well really all periods. Using SCC published values for Weekly still fits this classification. I interpret the 10 to be short-term, 40 to be medium-term. Then I drop a long-term: 200 on Weekly.
The only thing to keep in mind is that the long-term MA on intraday charts is not the same as the long-term MA on daily and weekly charts.
I realize these approximations are not identical, but I have already found them helpful since following MarkD's suggestion.
Thanks for your reminders and assurances. I appreciate them.
Short-term (10) on Monthly converts to medium-term (40) on Weekly.
Short-term (10) on Weekly converts to medium-term (50) on Daily.
Short-term (10) on Daily converts to medium-term (65) on Intraday.
Long-term (200) on Daily converts to medium-term (40) on Weekly.
Medium-term (50) on Daily converts to short-term (10) on Weekly.
I don't think this means much.