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TheBacktestGuy

Low-High Balance

TheBacktestGuy  
Oscillators Centered Oscillators Trend Analysis
36
1
oscillator centeredoscillator trendanalysis
It measures the balance between distance of low and close and distance of high and close.
From this balance a fast and a slow moving average is calculated and like MACD a histogram of their smoothed difference is drawed.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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