Study: Candle MA Distance (ATR)

2021년 8월 23일

Simple script that plots price to MA distance (ATR) as a bar chart.

ATR is being used here instead of % because ATR keeps it relative to current volatility (1ATR move in either direction can have very different % for when price at 20cent and 2 dollars).

Upper/Lower band is calculated based on the average of previous peak/trough. Price approaching the band could signal overextended in the short term movement, expect price to consolidate/retrace to the MA.

Caution: if the indicator shows the price "pulled back" to MA, the actual price could still go up (or down), just a little slower then the MA

Adjustable Settings:
- Plot as bar or line
- MA Type and Length
- ATR Length

█ Disclaimer

Past performance is not an indicator of future results.
My opinions and research are my own and do not constitute financial advice in any way whatsoever.
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I strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.