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Log Distance From MA + Ribbon

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Taken inspiration from dkncrypto from his "Percentage Distance from MA" indicator.
Percentage Distance From Moving Average


I did a couple of very simple modifications.
I added exotic calculations so that it works properly in charts that reach the zero value (like the yield curve).
I also added a ribbon. It is now clearer when price is under resistance when compared to the deviation of it's trend.

The standard price ribbon describes support/resistance levels based on absolute vertical price distance.
The ribbon on the indicator I built describes support/resistance levels based around the trend of the price.

One could couple it with the KST-Based MACD indicator I built.
KST-Based MACD


In my future analyses, I will consider skipping the standard price ribbon and consult the Distance-From-MA ribbon.

Tread lightly, for this is hallowed ground.
-Father Grigori
Sürüm Notları
Added copyright.

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.