PROTECTED SOURCE SCRIPT
MA (%) - Moving Average Percentage [HODLER]
Aktualisiert
This indicator computes and indicates the average distance between the source and moving average, based on previous uptrend and downtrend reversals.
Firstly, this indicator offers three inputs: ma type, length, and source. These inputs allow you to customize the length, type, and source of the moving average used in the calculation.
Following this, you can select an offset percentage and a lookback value. The offset percentage enables you to fine-tune the automatically calculated distances, and only operates if the above and below percentages have not been set manually. The lookback value determines the number of highs and lows that are taken into account when calculating the averages.
Lastly, to filter out noise in the results, you can enable and adjust the Commodity Channel Index (CCI). The CCI has been normalized between 0 and 100 and oscillates around a zero line, making it a valuable tool for filtering out noise and more accurately depicting the average percentage changes within the overbought and oversold conditions.
The indicator plots the average distances in blue when the conditions of the settings are met. If the average is below, it is shown in blue, and if it is above, it is shown in yellow. The green and red colors represent whether the trend, based on the moving average, is rising or falling.
The attached chart is merely an example, and the indicator can be fully optimized when you have selected the appropriate moving average and offset percentages. These values may differ across different timeframes, and it is essential to set the right values for each timeframe.
It is worth noting that this indicator is specifically designed to identify tops and bottoms. However, it is important to keep in mind that no indicator can guarantee 100% accuracy, and the market can always behave unpredictably with unexpected price movements. Despite this, the indicator can be a useful tool when utilized in combination with other indicators.
Please don't hesitate to reach out if you have any questions or suggestions regarding this indicator.
Firstly, this indicator offers three inputs: ma type, length, and source. These inputs allow you to customize the length, type, and source of the moving average used in the calculation.
Following this, you can select an offset percentage and a lookback value. The offset percentage enables you to fine-tune the automatically calculated distances, and only operates if the above and below percentages have not been set manually. The lookback value determines the number of highs and lows that are taken into account when calculating the averages.
Lastly, to filter out noise in the results, you can enable and adjust the Commodity Channel Index (CCI). The CCI has been normalized between 0 and 100 and oscillates around a zero line, making it a valuable tool for filtering out noise and more accurately depicting the average percentage changes within the overbought and oversold conditions.
The indicator plots the average distances in blue when the conditions of the settings are met. If the average is below, it is shown in blue, and if it is above, it is shown in yellow. The green and red colors represent whether the trend, based on the moving average, is rising or falling.
The attached chart is merely an example, and the indicator can be fully optimized when you have selected the appropriate moving average and offset percentages. These values may differ across different timeframes, and it is essential to set the right values for each timeframe.
It is worth noting that this indicator is specifically designed to identify tops and bottoms. However, it is important to keep in mind that no indicator can guarantee 100% accuracy, and the market can always behave unpredictably with unexpected price movements. Despite this, the indicator can be a useful tool when utilized in combination with other indicators.
Please don't hesitate to reach out if you have any questions or suggestions regarding this indicator.
Versionshinweise
Fix coloring issues when using offset percentage.Versionshinweise
- Fixed a bug that caused offset percentage to be incorrectly calculated.- Changed the offset percentage to a multiplier, allowing more accurate adjustment of the upside and downside.
- Updated the calculation from using the close price to using both fast and slow moving averages. However, you can still achieve the same results as the previous version by using a 1 MA fast length.
- Changed the colors to more commonly used ones, similar to the MACD indicator.
Versionshinweise
- The name of the indicator has been updated.- The offset percentage has been divided for upward and downward percentages instead of using a single offset for both.
- RSI has been added to improve the accuracy of the indicator's reversal predictions and filter noise.
Haftungsausschluss
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