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The next indicator is an histogram that compares the difference between highest high of x bars and moving average of same bars compared with the difference between lowest low of same number of bars and moving average also of the same number of bars (that means that if difference between highest high and moving average is higher than difference between lowest low and moving average the indicator will draw values higher than 0).

It has the next inputs:

  • maperiods: Number of bars to calculate the moving average, highest high and lowest low.

Indicator can be customized in terms of colour, style, width and you can plots as max levels as you like.

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Version 1.10 - 2016.03.31
Added the possibility to change indicator timeframe calculation without having to change chart rimeframe.