Log Distance From MA + Ribbon

29 thg 4, 2023

Taken inspiration from dkncrypto from his "Percentage Distance from MA" indicator.

I did a couple of very simple modifications.
I added exotic calculations so that it works properly in charts that reach the zero value (like the yield curve).
I also added a ribbon. It is now clearer when price is under resistance when compared to the deviation of it's trend.

The standard price ribbon describes support/resistance levels based on absolute vertical price distance.
The ribbon on the indicator I built describes support/resistance levels based around the trend of the price.

One could couple it with the KST-Based MACD indicator I built.

In my future analyses, I will consider skipping the standard price ribbon and consult the Distance-From-MA ribbon.

Tread lightly, for this is hallowed ground.
-Father Grigori

29 thg 4, 2023

Phát hành các Ghi chú

Added copyright.