High Low Differential Meter

21 thg 10, 2020

Yet another trend follower that is based on a very simple principle: Take the highest high and lowest low from a user defined bars back period, do an average between them and smooth them up with 3 possible moving averages, VIDYA, EMA and SMA, while VIDYA is the default.
What is VIDYA ?
Variable Index Dynamic Average (VIDYA) is similar to the Exponential Moving Average (EMA), but automatically adjusts the smoothing weight based on price volatility.

How to use:
GREEN : Up trending
LIGHT GREEN : Up trend reversal might occur.
RED : Down trending
LIGHT RED : Down trend reversal might occur.

NOTE: BAR COLORS are set to TRUE by default!

Follow for more indicators: tradingview.com/u/dman103/