The Psychological Support/Resistance indicator aims to provide the user with hypothetical support and resistance zones that are likely to provoke a strong reaction in price, either in both directions, providing good bouncing zones or significant movements once those levels are breached.
🔶 CALCULATION
The script takes into consideration the total number of...
This indicator measures the vertical distance form the current close to the MA of your choice. I find that it does not work best as an oscillator, but it works well for providing early signals for taking profits when trend continuating. For example, if you go short due to a retracement to the MA (of your choice) take profits when a bearish trendline is broken...