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Distance from Moving Average

This indicator measures the largest distance between a price (high or low) and a moving average. It also shows the average distance above and below the moving average.

It may come in handy for strategies that open reverse positions as price moves away from a moving average within a certain range, awaiting it to return so the position can be closed.

It just works on any symbol and timeframe.

Parameters:

  • Moving average period: Period for moving average calculation.
  • Moving average method: You can choose between "Simple", "Exponential", "Smoothed" and "Linear-weighted" moving average methods.
  • Average distance calculation period: This is the calculation period for the average distance. Options are "today", "today + yesterday", "today + past 2 days", "today + past 3 days", "today + past 4 days", "today + past 5 days" and "today + past 6 days".


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Enrico Andreas Hessel
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Enrico Andreas Hessel 2020.10.03 15:06 
 

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Version 1.4 2020.10.08
Indicator performance improvement.
Version 1.3 2020.10.07
Changes:
- Full historical data of the distance from a moving average.
- Average distance calculation period in days (up to past 7 days).
Version 1.2 2020.01.02
Minor bug fixes.
Version 1.1 2020.01.02
Minor adjustments for performance improvement and calculation of average distance above and below the moving average.