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This indicator draws two different averages based on the highest high and lowest low of x amount of bars that can be set as you prefer. Also, it paints the space between these averages in two different colors depending which average is higher than the other.

It has the next inputs:

  • periods: Number of bars to calculate the first average.
  • periods1: Number of bars to calculate the second average.

Both averages can be customized in color, style, and width.

Note: These averages are not calculated based on every bar but they are calculated taking the median of the x amount of bars. Example: In the last 100 bars the highest high was 5 and the lowest low was 3, so the average will be drawn at 4. It does not matter if there are more candles above/below 4.

Note: This is a DEMO version that only works on AUDJPY charts. If you want the full version, buy the product DoNotLookIt.

Maksym Mudrakov
2016.08.31 18:17 

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Version 2.0 - 2016.04.07
Added the possibility to choose calculation mode:
-Moving average
*In moving average mode you can choose MA_METHOD and also APPLIED_PRICE;
And an alert displaying next message: "This is a DEMO version that only works on AUDJPY"
Version 1.10 - 2016.03.31
Added visible prices for every band. Price labels can be customized in color and size, and can be easily switched off by changing "true" to "false".