A simple script that calculates the percent above or below a moving average.
Comentarios
limjohn
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hi 4X4good, i'm new to Tradingview and have not even started to understand Pine Scripts yet. can you explain if this indicator is measuring
1. the % of difference in number of days in the set time frame that the selected share price is above the SMA?
2. or measuring the difference in number of stocks in the exchange that is above vs below the SMA? if it is this option, which exchange is the indicator measuring?
thanks in advance.
4X4good
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@limjohn, Hello. Think of this indicator as the moving average, (on any *single* stock or ETF or anything else) as a *flat line*.
It simply shows how far above or below the moving average the instrument is, in percentage terms.
Hope that explains it. ;-)
1. the % of difference in number of days in the set time frame that the selected share price is above the SMA?
2. or measuring the difference in number of stocks in the exchange that is above vs below the SMA? if it is this option, which exchange is the indicator measuring?
thanks in advance.