OPEN-SOURCE SCRIPT
Percentage Distance From Moving Average
This indicator shows the percentage that an asset price is above or below its 50-period simple moving average.
You can change the 50-period moving average to whatever you'd like in the settings of the indicator.
There are other versions of this indicator that are currently public, but they all use the exponential moving average instead of the simple moving average.
You can change the 50-period moving average to whatever you'd like in the settings of the indicator.
There are other versions of this indicator that are currently public, but they all use the exponential moving average instead of the simple moving average.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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Disclaimer
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