Percentage Variance
- Utilities
- Sergio D. Rocha
- Version: 1.0
- Activations: 5
Measure the price percentage between 2 points using simple fibo retracement element.
To use it, just add the indicator to the chart, and select or create a Fibo Retracement and at 0% line Percentage Variance will add the price distance expressed in percentage value.
The distance is calculated from first point indicated when drawing the fibo, and the last point indicated.
There for if you draw a fibo from top to bottom, the indicator will show percentage gain and if you draw the fibo from bottom to top will show percentage decline.
The percentage distance is commonly used as filter to validate a penetration or break-out of a price level, or a price reversal.