AntoniBlack

Hourly 50\100\200 EMA on 5M bars

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Hello. This script was created for traders using a 5 minute timeframe. The script allows you to plot EMA from a higher level timeframe. Its formula includes the multiplication of the classical values of 50/100/200 EMA by 12, because in one hour it is 12 times for 5 minutes. You must use script only at 5M timeframe, because his interval is unique and not compare with other timeframes.
Often, an hourly EMA on a 5-minute timeframe becomes a strong level of support or price resistance. You can use this script on 5M timeframe with "daily 50/100/200 EMA" script on 1H timeframe for best scalping results.
Good luck in trading!
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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