This indicator draws 2 different averages based on 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 2 different colours depending which average is higher than the other.
It has the next inputs:
- periods: Number of bars to calculate first average.
- periods1: Number of bars to calculate second average.
Both averages can be customized in colour, style, width.
Space painted between the averages just can be customized in colour and width.
Note: This 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 do not matter if there are more candles above/below 4.
*In moving average mode you can choose MA_METHOD and also APPLIED_PRICE;