Looking for an Indicator to Monitor Equity/Drawdown vs. SMA for Backtest and Live Trading

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Hi everyone,

I'm in search of an indicator that can be applied to the equity or drawdown chart during backtests and in live trading (e.g., using a demo account). The key features I'm looking for are:

  1. The ability to plot a Simple Moving Average (SMA) on the equity or drawdown curve.
  2. If the equity or drawdown is above the SMA, trading should continue as normal.
  3. If the equity or drawdown falls below the SMA, trading should stop until it moves back above the SMA.

My main interest is in being able to monitor the drawdown curve in this way, so the indicator should work effectively on drawdown charts as well.

Has anyone developed or come across such an indicator that could be used for this purpose? Any suggestions or shared experiences would be greatly appreciated!

Thanks in advance!

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