Multiple Timeframe Moving Average in PINE SCRIPT

hi Traders welcome back to the channel
in today's video I'm answering another
question that was sent to me and this
Trader wants to know how to create an
indicator that has multiple EMAs across
multiple time frames drawing onto their
chart so today's lesson is going to be
quite short and simple let's jump into
the code so I just recently got a new
computer which I'm still setting up for
my editing and recording software so I
thought I'd just keep today's lesson
really simple in the weeks to come we'll
start uh going back into more complex
subjects like um automation through Pine
connector and uh maybe even some real
test uh content like we saw in the last
video on the channel but anyway for
today's lesson let me get rid of all
this code and I'll paste in these lines
one by one and break down what we're
doing here in order to achieve multiple
time frame EMAs on the one indicator so
here are our user inputs we have an EMA
length and we have four time frames a 5-
minute chart 30 minute chart hourly
chart and 4-Hour chart the first thing
we need to do before we get any of these
higher time frame EMAs is make sure that
we're not repainting so I've covered
repainting in the past on the channel uh
basically what repainting is is when
your indicator draws information onto
the chart that is different on
historical data as it is on realtime
data it's obviously a big problem
especially when um using strategies and
back testing scripts we want our scripts
to be performing the same on realtime
price action as it would on historical
price action and so to eliminate repain
ing I'm going to create a custom
function here called request security
NRP short for non- repainting and this
function is going to take three
parameters a time frame an
expression and today we're using a bar
merge parameter as well I'll explain
what this bar merge parameter does when
we get to drawing our EMAs so to define
a custom function we need to give it a
name and then these parentheses uh
contain our parameters for this fun
function and then we use the equals
right arrow sign to um tell pinescript
that the next line of code is going want
to be what we want this function to do
so we need to indent by one Tab and then
uh for this function it's just one line
of code we're using the request.
security function and now we're going to
pass in our current
symbol and then our time frame parameter
this guy here and then our
expression and this is where we
eliminate repainting the official
trading view documentation if you scroll
down here to this non- repainting
section here says we need to pass this
expression into the historical operator
here and then we also need to pass this
same expression on the outside of the
security function however instead of
having this expression here we need to
flip
these numbers here and now we have a
non- repainting security function call
but I'm going to add one more parameter
here to the security function and that's
going to be our bar merge parameter this
bar merge parameter is going to be what
we use to smooth this higher time frame
EMA I'll show you what happens when we
don't use the bar merge parameter when
we get to that part of the script the
next thing we need to do is get our EMA
expression so that's just going to be
EMA value equals uh ta library. EMA
we'll use the closing price as our price
source and our em length will be our
input length which is this guy here so
now we have everything we need in order
to get our EMAs on the various uh time
frames that we're using up here so to do
that we're going to use our security
function that doesn't repaint of course
you could just copy this line of code
and use this four times but it just
makes the script a bit harder to read
that's why I made a custom function to
keep things a bit shorter because we
know we need this parameter in all all
of our security function calls because
we want to reference the current market
on every EMA and we want this expression
on all of our function calls so that we
don't repaint so now I'll create four
new variables called emaor timef frame
and then a number representing each time
frame we'll pass in each time frame
input which is this parameter here and
then the expression which will be EMA
value and this EMA value will get this
value whatever EMA value is on the
current time frame this security
function will retrieve that value from
this time frame so that's how we get
multiple time frame indicator values and
of course this will work on any price
value volume indicator so we could get
other indicator values High time frame
RSI values Etc it doesn't need to just
be an EMA and then finally we have our
bar merge parameter so by default the
security function has bar merge. Gap
gaps off so it does not merge any gaps
in the data series that the security
function retrieves from a higher time
frame I'll explain what that means in a
moment once we finish getting all four
of our time frames so 2 3 4 2 3 4 we now
are retrieving four different time frame
EMAs into four different variables the
final thing to do is draw EMAs onto our
chart using the plot function
um I'll just write out one function here
and copy and paste it four times so for
the colors um I've just gone with
different shades of red so the shades
get slightly darker as we go up in time
frame resolution so to do that I use the
color. RGB function which is short for
red green blue and then we just pass in
255 would be full red 0 0 would be no
green no blue and zero transparency will
give us a bright red color and then I
also made the line width two so that the
line is a little bit thicker than the
default plot line width so now we can
paste this three more times change our
values like so and then for the colors I
just reduce the red slightly as we go up
in time
frame there we go that's our script
completed if I save my code now keep an
eye on our EMA
lines now this is what it looks like if
we have bar merge off if we have our
gaps off What's Happening Here is if I
zoom in a bit this first line is the 5
minute time frame we're on a 1 minute
chart and the reason why we have these
steps here is because on the one minute
chart we are constantly referencing the
previous 5 minute bars EMA value so if
we go to the 5 minute chart this EMA
value was smooth because it's actually
referencing each bar on our chart cuz
we're on the 5 minute time frame this is
a 5 minute EMA if we're on the one
minute chart there's only one 5 minute
bar for every five bars on our one
minute chart and so a new 5 minute
session just started and you can see
that our EMA value stepped up a little
bit higher so what this red line value
here is is now the 5 minute EMA value
over the past 5 bars and down here we
have the 30-minute time frame and so
this will represent the past 30 bars of
price action so you can see we just
started a new 30 minute time frame too
it's currently 1:30 UTC time or 11:30
a.m. my time um and this 1 minute bar
just began a new 30 minute bar on the
higher time frame and so our EMA value
stepped up now this can make for an
interesting um sort of support and
resistance Zone as you can see up here
you can create trading strategies around
these levels you can see price being
rejected off these uh two EMAs up here
and you can see that the EMA actually
looks like a flat line because we're
analyzing what the lower time frame does
when it interacts with that higher time
frame EMA in a trending Market EMAs can
act as Dynamic support and resistance um
and so this can make for an interesting
way to create trading strategies for
Trend continuation uh where we use the
higher time frame as a directional bias
and the lower time frame as our signal
time frame or trading setup time frame
and so if that's what you're using this
higher time frame moving average for you
might want this Dept version as it is
because it gives you a more accurate
representation of what that higher time
frame EMA value is on these lower time
frames but if you're just using it for a
discretionary uh Trend filter for
example let's say that you're just
trading um pullbacks above all of these
moving averages so you want price to be
above all four of these moving averages
and then you're looking for breakout
consolidation patterns like this flag
pattern here um another one's forming
here if that's the kind of thing you're
using this um application of higher time
frames for then you might want to leave
bar merge on so if I put bmer on all of
these four indicators and save my
script now our moving average values are
smoothed to look like they would if we
were on the corresponding time frame and
what it's doing is instead of stepping
in between each missing bar it's just
merging these values to get a smoothed
version of that price series or that
number Series so hopefully that makes
sense um this is a very simple lesson as
I said um in the weeks to come as I get
my computer fully set up we'll um dive
into more complicated subjects again but
for today I hope this answers the tra
tra's question so in summary we've
covered how to uh disable repainting
when using the security function to
reference higher time frame uh indicator
values again doesn't need to be the EMA
this could
be any one of these um ta namespace
indicators um and this non- repainting
code should work on all markets uh We've
covered what the bar merge um gaps
parameter does and we've also covered a
slightly more um fancy way of color
coding your indicators so with that said
I'll wrap this lesson up here I hope you
found it interesting as always best of
luck with your trading and I'll speak
with you in the next video Lesson
hopefully next week take care and I'll
speak with you
then