Top - Bottom Using MA

15 Tem 2023

This script is used decide weather stock is overbought or oversold in given length/days from the settings.

using close difference from ohlc4 moving average ratio.

Settings Available

1) moving average length

2) Highest / Lowest ratio length

3) Difference Between Highest and Lowest Line

this script plot/display 4 lines

1) highest difference from moving averages in provided length.

2) lowest difference from moving averages in provided length.

3) ratio of moving average and ohlc4

4) linear regression moving averages of ratio of moving average and ohlc4

How to use this script

1) when ratio line is touch 2 days to highest ratio line means we are consider stock is in overbought levels or linear regression moving average above highest ratio line means overbought.

2) when ratio lines cross below its linear regression moving average then we consider final exit or book profit.

3) when linear regression moving average below lowest ratio line means stock is in oversold.

4) when linear regression moving average below lowest ratio line and linear regression line start rising after fall it means there is change in trend.

5) when linear regression moving average cross above lowest ratio line it means trend is changed and linear regression line turns green.

22 Tem 2023

Sürüm Notları

Added middle line.

set default precision to 3 decimal points.