TeoTrading 24 - Distance to Moving Average

This indicator signals with the "S" letter when the distance between High value of a candle, and the EMA, is higher than the input parameter "PercentToEMA".

This distance is printed as an output with a green value.

You can configure the value of the EMA (default is 20).

The purpose of this indicator, is to indicate when the distance between High and EMA is greater than a value. This indicate a possible overbought.

Notes de version:

This new version prints "S" in fuchsia when the distance between Low value of a candle, and the EMA , is lower than the input parameter "NegativePercentToEMA".

You can select "UseClose" to use the Close value instead of the High and Low value of the Candle.

You can enable "PrintDistance" to view the value of the positive and negative distance.

The "S" is not a signal to buy or to sell. It only represents a distance between a value of the candle and the EMA.

This indicator does not generate recommendations to buy or to sell.