Ehlers MESA Adaptive Moving Averages (MAMA & FAMA) script.
These indicators was originally developed by John F. Ehlers (Stocks & Commodities V. 19:10: MESA Adaptive Moving Averages).
The Price Range Waveform calculated the difference from the open to close in percentage based.
The "Critical Range" input field lets you calibrate the zone above which a background color will be triggered.
Very useful in evaluating price expansion/contraction cycles and probable bottoms.
Works on any ticker and any timeframe.
Modification of the "Critical Range"...
