Moving Average Strength

Moving Average Strength

This indicator measures the strength (in pips) of the last closed MA value and the value of the MA x candles ago. It outputs three colors to the MA line, a buy color, a sell color, and a neutral color.

The following are the inputs:

MA Period - the period of the MA

MA Type - SMA, EMA

Look back - the number of candles to look back to measure the MA value (aka shift). 

MA Pips - The value (in pips from the last closed candle MA value to the MA value after the look back) that is required to change the MA line color.

Example:

MA Period - 20

MA Type - EMA

Look Back - 7

MA Pips - 12

This would analyze the 20 period EMA from the last closed candle position and look back 7 more candles, and measure the distance between these two points in pips.  If the value is 12 pips OR MORE, the 20 EMA line would turn Green for buy, Red for Sell.  If it is under 12 pips, the 20 EMA line would be yellow.

 Notice the yellow MA line turned GREEN once the MA pips was 12 or higher.  The same would be for sells, only RED.

The color outputs:

Color index 0 - Buy (Green)

Color index 1 - Sell (Red)

Color index 2 - Neutral (Yellow)