THE HAnDbook of TEcHnIcAl AnAlySISfigure 11.30 Finding Support on the Daily Chart of Gold.
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figure 11.29 Multiple Timeframe Moving Averages on the Daily of Chart of
Goggle Inc.
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you require by five. Therefore, a one-hour SMA must be set to (60mins/5) =
12 periods. A four-hour moving average must be set to (60mins × 4)/5 = 48
periods. Finally, a daily moving average must be set to (1440 mins/5) = 288
periods. See Figure 11.29 for the graphical representation of these three moving
averages on a 5-min chart.