Greetings fellow traders
I am looking for a custom Moving Average indicator (actually 2, but one is positive and one is negative of the same basic concept, so in reality its just one).
I want a derivative of a 49MA as follows: MA=49, Shift=0, MA Method=Simple, Apply to=Close, Style="Color", AND THEN.... I want one indicator to be running at +2% of whatever the regular 49MA value is, and the other running at -2% of the standard 49MA.
This will effectively place the standard 49MA inside 2 identical tracking MA lines, except that one line will be using the regular 49MA value plus 2% i.e. 102% regular 49MA value, and the other will be using the regular 49MA vale minus 2%.
The idea is to to see exactly when any price spike up or down breaks out of the custom lines indicating 2% deviation from the current 49MA.
Thanks in advance!