Hi mrtools, hi other all,lucmat wrote: ↑Wed Sep 30, 2020 4:57 amtrying to explain with an example with a moving average - period 12:
A= price - moving average of 12 period;
B= (A - min(A1:A12))*100;
C= (A - max(A1:A12))*100;
B is the line of oversold and C is the line of overbought; then we need two moving average of B and C.
Hope I'm clear.
Thanks in advance
I poste an image of the output of the indicator: it draws two lines, oversold and overbought.
Usually the buy signal is when oversold line has touched 0 line and then overbought crosses its moving average and also price crosses its moving average. Viceversa for the sell signal.
I think the formula should be the base for some new indicators.