This script shows the % difference between the candle closes and a user input resolution close.
For example, by default the resolution is set to 4 hours. The oscillator will show the difference between the candle closes and the ongoing 4 hour close levels. If the candle close is above, the oscillator will be above zero, below the close, below zero.
Thresholds can be set to change the coloring, including the barcolors.
Divergences are added for experimentation, but seem to show directional bias.
Alerts will be added later on, perhaps.
Thanks.
For example, by default the resolution is set to 4 hours. The oscillator will show the difference between the candle closes and the ongoing 4 hour close levels. If the candle close is above, the oscillator will be above zero, below the close, below zero.
Thresholds can be set to change the coloring, including the barcolors.
Divergences are added for experimentation, but seem to show directional bias.
Alerts will be added later on, perhaps.
Thanks.