OPEN-SOURCE SCRIPT
Difference Between Candle Close and Fibonacci MA AVG
Indicator calculates the first 17 Fibonacci moving averages and then finds the average. The difference between the close price and average Fibonacci MA and is then "scaled" by dividing the average Fibonacci MA.
Indicator shows the MA trend and can show possible support and resistance. Indicator shows an oscillation between an asset being overbought and oversold. Each asset has its own oscillation profile.
diff = (close - avgFibMA)/avgFibMA
Indicator shows the MA trend and can show possible support and resistance. Indicator shows an oscillation between an asset being overbought and oversold. Each asset has its own oscillation profile.
diff = (close - avgFibMA)/avgFibMA
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.