M SMA future b-adj: the back-adjusted monthly averages
M SMA future b-adj is the back-adjusted version of the monthly averages of the main future (M SMA future): the same 20, 50 or 200 monthly closes, but from TradingView's back-adjusted contract series. A 20-month average spans six or seven quarterly rolls, so the two versions can be hundreds of points apart. Basics draws the b-adj version as a dotted line in the colour of the normal average, on futures as it is and converted on CFD and index charts. It is off by default.
On this page
09:00 · Xetra opens
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- 102:15 — FDAX's day starts at its high, 25,254. The 20-month average on the back-adjusted series: 24,957. Without adjustment: 24,391, 566 points lower.
- 212:30 — after a fall of more than 300 points FDAX dips to 24,925, 32 points under the line, and the quarter hour closes back above it.
- 317:30 — a second dip to 24,925, and again FDAX turns up.
- 421:45 — the last price of the day: 25,118, 161 points above the line.
Part of Basics
Free TradingView indicator with all session, week and month levels for index, futures and CFD charts.
Install Basics (free) →Two versions of the same average
The main future changes contract every quarter, and the new contract trades at a different price. A monthly average of the future mixes monthly closes of many contracts — a 20-month average spans six or seven rolls. There are two ways to deal with that:
| M SMA future | Averages the monthly closes as they traded, each in its own contract. |
|---|---|
| M SMA future b-adj | Averages TradingView's back-adjusted monthly closes: everything before a roll is shifted by the roll gap. This is the average you see when you add a moving average to a back-adjusted monthly chart. |
The roll gaps add up, so the two versions are far apart: on 8 October 2026 the 20-month average of FDAX was 24,391 without adjustment and 24,957 back-adjusted — 566 points.
Which one counts?
Both can: traders on a back-adjusted monthly chart see the b-adj value, traders on an unadjusted chart the normal one. In the example above FDAX turned twice at the b-adj line. It was not alone there: the not-adjusted 200-day average, D SMA200 future, sat at 24,948 the same day — two levels in one spot. More on rolls and back-adjusting: back-adjusted levels explained.
How Basics shows them
Each monthly average of the future — 20, 50 and 200 — has its own b-adj checkbox. The b-adj lines appear on every supported chart: on futures (main, mini, micro, nano) as they are, on CFD and index charts converted with the current cash-future difference — exactly like the normal lines.
| Default look | Dotted, in the colour and width of the normal average: M SMA20 black, M SMA50 blue, M SMA200 red |
|---|---|
| Labels on the chart | M SMA20 future b-adj, M SMA50 future b-adj, M SMA200 future b-adj (renamable) |
| Switched on by default | No |
| Value | The average of the last 20, 50 or 200 monthly closes on TradingView's back-adjusted series, with the current price as this month's close |
| Price on your chart | Futures (main, mini, micro, nano): the main future's price as it is. CFD and index charts: converted with the current cash-future difference |
| Where the line is drawn | Today only: one line per average, from the start of today's futures session — no lookback |
| Timeframes | Charts from 1 minute up to the daily chart, and the monthly chart, on seconds charts too, unless the level needs more history than the chart loads; not on weekly charts |
| Markets | Nasdaq-100, S&P 500, Dow, Russell 2000, DAX, FTSE 100 and AEX — all tickers |
Why don't I see the lines?
- They are switched off.The b-adj lines are off by default. Check the … b-adj box below each monthly average under Futures SMAs, and the master switch Show all objects in 'Futures SMAs' group in the indicator settings.
- You are looking at an earlier day.A b-adj line is drawn for today only; earlier days keep no b-adj line.
- You are on a timeframe without them.The lines are drawn on charts from 1 minute up to the daily chart, and on the monthly chart.
- Price is far away from them.Lines are hidden while the level is more than 5 % from the current price, so they don't squeeze the chart. You can change this under General → Level visibility range.
- Your ticker is not recognised.See the supported tickers — and if yours is missing, let me know: requests are very welcome.
What you can change
In the indicator settings (the gear icon next to Basics on your chart), under Futures SMAs:
| Show / hide | A … b-adj checkbox below each monthly future average · Futures SMAs |
|---|---|
| Colour, width | Taken from the normal average above it; the b-adj line is always dotted |
| Label text | Default M SMA20 future b-adj, M SMA50 future b-adj, M SMA200 future b-adj |
| Label size, line end, visibility range | Shared with all lines · General |
Charts and defaults on this page: Basics v11.72.8 · updated 21 October 2026.
Frequently asked questions
What does b-adj mean?
Back-adjusted: calculated on TradingView's back-adjusted contract series, in which older contracts are shifted to the current contract's prices.
Why are the two monthly averages hundreds of points apart?
A monthly average spans many quarterly rolls. Every roll gap shifts the older monthly closes in the back-adjusted series, and the shifts add up.
Does the chart's B-ADJ button move the lines?
No. Both versions are fixed values; the button only changes how TradingView draws the candles from before a roll.
Which one should I use?
That is a matter of preference: many futures traders watch the normal average, traders on back-adjusted charts the b-adj one.
Does it work on a CFD or an index chart?
Yes. Like the normal future averages, the b-adj lines are converted with the current cash-future difference.
Related levels
See both versions on your own chart
Basics is free on TradingView. Add it to any supported chart — for example FDAX or MYM — and switch on the b-adj averages under Futures SMAs.