Informational indicator. It displays a histogram in different colors, depending on the ratio between the candlestick prices and the moving average.
There are three adjustable parameters:
- MA Period – MA calculation period;
- MA Method – Moving Average calculation method;
- Applied price – price used for calculations.
Calculation:
If Low > MA: MA > PrevMA = color 1 MA < PrevMA = color 2 If High < MA: MA < PrevMA = color 3 MA > PrevMA = color 4
Otherwise = color 5
where:
MA is the moving average with the Period, by Method, and at Applied price PrevMA - moving average on the previous bar
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