Simple representation of the percentage derivative price from a N periods moving average.
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//Parameters : //Period = 200 //percentH = 15 //percentL = -15 xEMA = exponentialaverage[Period](close) nRes = (close - xEMA) * 100 / close RETURN nRes as "% deviation from MA", 0, percentH, percentL |
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Great job. If you divide the numerator by xEMA and not Close you obtain the Disparity Index that, used with an EMA26 represents perfectly the RSI.
ah, great, was just looking for something similar. will try this. I have also been considering adding the percents deviation from an MA as a fixed percent above/below as a line on the chart (“MA envelope”) but hasnt found any such code on the forums. maybe I’ll try to construct it myself. but thanks for this!