OPEN-SOURCE SCRIPT
Advanced Price Distance from MA
What does this indicator do for us? 🤔
It displays on a separate chart exactly how far the stock price is from the 150 MA in percentages.
The idea (just like Micha talks about a lot) is to easily spot when the stock is in a healthy uptrend and when it's overextended—"stretched too far" like a rubber band and due for a correction.
Key features included:
👇📏 Percentage Distance Chart directly from the 150 MA.
🛣️ Smart Threshold Bands selectable in fixed percentages or dynamic ATR (which automatically adjusts to the stock’s volatility).
🎨 Automatic Color Changing: Green above zero, red below zero, and the moment it breaks the bands—it turns bright yellow to warn that we've reached a heavily overextended zone.
🚩 Distance Flags at Extremes: The oscillator automatically detects turning points and places a small flag with the exact percentage value.Of course, all settings, label sensitivity, and colors can be fully customized in the settings menu.
It displays on a separate chart exactly how far the stock price is from the 150 MA in percentages.
The idea (just like Micha talks about a lot) is to easily spot when the stock is in a healthy uptrend and when it's overextended—"stretched too far" like a rubber band and due for a correction.
Key features included:
👇📏 Percentage Distance Chart directly from the 150 MA.
🛣️ Smart Threshold Bands selectable in fixed percentages or dynamic ATR (which automatically adjusts to the stock’s volatility).
🎨 Automatic Color Changing: Green above zero, red below zero, and the moment it breaks the bands—it turns bright yellow to warn that we've reached a heavily overextended zone.
🚩 Distance Flags at Extremes: The oscillator automatically detects turning points and places a small flag with the exact percentage value.Of course, all settings, label sensitivity, and colors can be fully customized in the settings menu.
Open-source script
In true PulseWire 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.
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 PulseWire. Read more in the Terms of Use.
Open-source script
In true PulseWire 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.
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 PulseWire. Read more in the Terms of Use.