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Friends,
Further to post 67848.
Here are a further two Indicators, G4 & G5 ,
Their construction is identical except for the WMA lengths which define
G4 as a medium term indicator and G5 as a long term indicator.
Check the attachment
Kind regards
Gerard
// G4 Medium-Term, plots the distance between High and Close as a
PERCENTAGE of the distance between High and Low
GraphXSpace=15;
Plot(A=WMA(H-C,25)/WMA(H-L,25)*100," G4 Medium-Term Bull/Bear Market
Indicator H-C as a % of H-L",4,1) ;
Plot(AA=WMA(C-L,25)/WMA(H-L,25)*100," C-L as a % of H-L",27,1) ;
Buy=A>AA ;
Sell=A<AA ;
Color=IIf(Buy,4, IIf(Sell,27,
IIf(BarsSince(Buy)>BarsSince(Sell),7,6)));
Plot(5,"ribbon",Color, styleOwnScale|styleArea|styleNoLabel, -0.5,100 );
// G5 Long-Term, plots the distance between High and Close as a
PERCENTAGE of the distance between High and Low
GraphXSpace=15;
Plot(A=WMA(H-C,255)/WMA(H-L,255)*100," G5 Long-Term Bull/Bear Market
Indicator H-C as a % of H-L",4,1) ;
Plot(AA=WMA(C-L,255)/WMA(H-L,255)*100," C-L as a % of H-L",27,1) ;
Buy=A>AA ;
Sell=A<AA ;
Color=IIf(Buy,4, IIf(Sell,27,
IIf(BarsSince(Buy)>BarsSince(Sell),7,6)));
Plot(5,"ribbon",Color, styleOwnScale|styleArea|styleNoLabel, -0.5,100 );
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