OPEN-SOURCE SCRIPT
Ratio To Average - The Quant Science
Ratio To Average - The Quant Science is a quantitative indicator that calculates the percentage ratio of the market price in relation to a reference average. The indicator allows the calculation of the ratio using four different types of averages: SMA, EMA, WMA, and HMA. The ratio is represented by a series of histograms that highlight periods when the ratio is positive (in green) and periods when the ratio is negative (in red).
https://www.tradingview.com/x/2frlVNR0/
What is the Ratio to Average?
The Ratio to Average is a measure that tracks the price movements with one of its averages, calculating how much the price is above or below its own average, in percentage terms.
https://www.tradingview.com/x/CeOvky77/
USER INTERFACE
Lenght: it adjusts the number of bars to include in the calculation of the average.
https://www.tradingview.com/x/oVPR1tT9/
Moving Average: it allows you to choose the type of average to use.
https://www.tradingview.com/x/ihiuj30K/
Color Up/Color Down: it allows you to choose the color of the indicator for positive and negative ratios.
https://www.tradingview.com/x/37b2zPAV/
https://www.tradingview.com/x/2frlVNR0/
What is the Ratio to Average?
The Ratio to Average is a measure that tracks the price movements with one of its averages, calculating how much the price is above or below its own average, in percentage terms.
https://www.tradingview.com/x/CeOvky77/
USER INTERFACE
Lenght: it adjusts the number of bars to include in the calculation of the average.
https://www.tradingview.com/x/oVPR1tT9/
Moving Average: it allows you to choose the type of average to use.
https://www.tradingview.com/x/ihiuj30K/
Color Up/Color Down: it allows you to choose the color of the indicator for positive and negative ratios.
https://www.tradingview.com/x/37b2zPAV/
Skrip open-source
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