The chart is showing the distance of the current price from the required closing price.
Settings ( settings & OB/OS Limits) can be customized
This indicator can be used in combination with my / Strategy as there the Position closing is based on crossing OB/OS levels.
Therefore this indicator can give insight which price level will trigger a closing of the position.
Link to strategy:
As always, I am happy to get constructive feedback.
PS. If anyone has an idea how I could extend this logic to also show the target closing price for a "K-Line/D-Line Cross", then let me know ;-)
With the first version of the indicator it was only possible to display the price delta for K-line to get into the Oversold/Overbought zones.
("How much would the price need to move in the current session so that the indicator gets into the Oversold/Overbought zones?")
In the new version, two additional conditions can be shown:
- Price delta for D-line (SMA of K) to get into the Oversold/Overbought zones
- Price delta to the next K-line/D-line cross
Labels can be shown/hidden for the three different scenarios.
Enjoy - and let me know your constructive feedback.
Maths was not my strength in school.....