Caretakers Baseline

The Caretakers Moving Average Baseline Comparison Indicator.


I introduce My Moving Average Baseline Comparison Indicator.


This indicator Displays the (Selectable) Source as a 'Zero' Baseline.

The Baseline source can be selected from any of the indicators 7 EMAs or 4 SMA's.
It can also be chosen from any external indicator or chart plot series.
(Default = close).

It plots the price differences between 7 EMA's and/or 4 SMA's and the selected Baseline Source.
(Default )

This allows for deeper analysis of the alignment of the Moving averages in regards to the source.

This also allows for clear analysis of divergences between the moving averages and the source.

The EMA's and SMA's can be turned on and off as groups.

There is an optional Fill color from the highest period EMA and SMA for easy macro trend identification.

The source can be switched to log scale, and a multiplication factor can be applied. (Default = 1000)
Note : In log mode the scale values are not accurate.

A smoothing factor can be applied to the moving averages to reduce noise. (Default = 1)

The Indicator plots can be inverted on the Y axis.

The indicator can be used in a variety of ways to plan entries/exits and as a trend analysis tool.

Versionshinweise:

Added SMA 1 - SMA 4 to the source list.

Versionshinweise:

Changed settings layout and added colour fill options

Versionshinweise:

Removed some outdated code and transp variables.