It tells you how much % 1 moving MDA line away from crossing another, and it colors it based on whether it's above or below.

Mr_Wheeler

Active member
EB5gIN2.png

"Ck 1st" is abbreviation for "Check first", "9 Abv 200" simply means that the 9 MDA is above 200.


Code:
# avgs_per_diff_00

declare lower;

input avg1Type = Averagetype.simple;
input avg2type = Averagetype.simple;
input Avg1Length = 9;
input Avg2Length = 50;

def avg1 = MovingAverage(avg1Type, close, avg1Length);
def avg2 = MovingAverage(avg2Type, close, avg2Length);
def avgup = (avg1 > avg2);

#def AvgPercent = MovingAverage(avg1Type, close, avg1Length)-MovingAverage(avg2Type, close, avg2Length);
# plot percentDiff = (absValue(avgPercent)/movingaverage(avg1type,close,avg1length)) *100;

def Avg12diff = avg1 - avg2;

plot percentDiff = (absValue(avg12diff)/avg1) *100;
percentDiff.DefineColor("Up", color.green);
percentDiff.DefineColor("Down", color.red);
percentDiff.AssignValueColor(if avgup then percentDiff.color("up") else percentDiff.color("down"));


AssignBackgroundColor(if Avg1 is greater than or equal to Avg2 then (CreateColor(0, 102, 0)) else Color.light_GRAY);


.
 

Mr_Wheeler

Active member
  • I have my studies set up on the 15 minute chart without extended hours because because low volume throws everything out of wack such as VWAP.

  • Green square on the "9 ABV 50" means that the 9 MDA line has crossed the 50 MDA line.

  • If that square was white instead it would mean the 9 MDA is under the 50 MDA line.

  • Currently it's it has the value of "2.37" within the green square. That means the 9 MDA is 02.37 % above the 50 MDA line.


  • The RSI is separate. I have it there & color coded so I instantly know if I should avoid making the trade.

  • If you take a 2nd look at my layout you'll see "9 MA", "50 MA", and "200 MA ". Those are the actual moving average values. I use weighted moving averages because that's enables me to get the best result when using a bunch of other studies.

  • When I look for studies or indicators, I look for things to plug holes in the over all picture of a stock's movement. I created this scanner setup & scanner studies because I wanted to quickly glance at a scanner's output. I didn't like how I was slowly comparing the MDA values to each other for each stock was displayed, so I created the scanner study to "plug a hole".



I'm sorry, I should have explained my scanner set up.

vqc9adF.png
 
Last edited by a moderator:

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