Return the percentage of closing prices greater than SMA's with periods within a user-selected range. An exponential moving average applied to these results is also displayed (in orange).
Settings
Min : Minimum period of the SMA in the range
Max : Maximum period of the SMA in the range
Smooth : Period of the EMA
Src : Input series of the indicator
Usage
The indicator is a normalized oscillator. A value of 100 indicates that 100% of the current closing price is over SMA's with periods ranging from min to max, this indicates a bullish market, while a value of 0 would indicate a bearish market.
In this image the indicator use min = 50 and max = 200, here AMD has been strongly bullish at the start, and ended being strongly bearish at the end, during this bullish period the indicator is over its overbought level, while it is under its oversold level during the bearish period.
In case the market is ranging we can expect the indicator to be around 50%, using the smoothed result might be more useful to detect ranging markets with this indicator.
If the smoothed result is within the overbought/oversold levels, then we can say that the market is either ranging or transitioning from a bullish/bearish market to an opposite one.
@syrinxflunki, Ooo, I wasn't expecting that, amazing. Thx a lot for always leaving a comment :D
nilux
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Very cool! You just keep on pushing such interesting ideas - thank you for sharing this!
alexgrover
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@nilux, Thank you for your comment, it means a lot. Next indicators should be way more impressive :D
secretcode
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Good one, thanks for sharing :)
mfks2021
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i like your brilliant ideas how you filter the price action zones
ICEKI
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Cool, simple and effective indicator, appreciated alexgrover for shared <3
DannyBaker
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I really like this Alex!
Junglistt
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Great idea Alex! I'm going to have a play with it now! Thanks again for sharing the high quality ideas and code with great explanations, they really are appreciated.