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Indicator plotting percentage price is above or below a moving average
Rank: Newbie
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Joined: 11/7/2010(UTC)
Posts: 4
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Hi there,
Wondering if someone can point me in the direction of
an indicator that I have seen on Metastock but cannot seem to find on my
own version. It is very simple in that it plots the percentage that the
price of a security is above or below a particular moving average. It
is particularly to determine when to attack a market from the short side
e.g. once the S&P 500 trades at 5% below its 35 week moving average
there is a high probability of a very fast sell off.
Does this sound familiar to anyone or is it something we need to code ourselves (which I have no idea how to do!).
Any help most appreciated.
Cheers
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Joined: 5/13/2005(UTC)
Posts: 715
Location: Midwest, USA
Was thanked: 1 time(s) in 1 post(s)
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{ Assume chart set to Weekly Periodicity }
x:=Mov(C,35,S);
(x-C)/x>=0.05;
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Indicator plotting percentage price is above or below a moving average
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