This creates a replica of relative distance from the moving averages, a good way to measure the strength, divergences etc.... short, mid and long term waves.
Hey, thanks for creating this indicator. Could you explain how you interpret the indicator, especially the light blue and red areas? Does the red mean the trend is slowing down, and blue confirms the trend?
UDAY_C_Santhakumar
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I use those settings for Short term, Mid term and Long term. The red histrogram shows divergences. Only Blue, the trend is strong.
maltaee
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@ucsgears, What the dark purple color refers to?
joe_vijay
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Nice to know we can plot two colors in one histogram bar for oscillators.
EbShikor2017
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Hi, I been using this indicator and it has been very useful to me. I was wondering if there is one just like it for the MT4 platform. Anyone know? Thanks in advance for your assistance.