Smoothed Repulse w/ Floating Levels [Loxx]Smoothed Repulse w/ Floating Levels indicator measures and displays the bullish or bearish pressure associated with each price candlestick in the form of a curve.
It is more relevant when compared to price and offers valuable additional information on the feeling and confidence that traders have about the markets.
This version can use one of the 4 basic averages types for smoothing.
Coloring can be chosen depending on :
slope
outer levels cross
middle ("zero") level cross
Since the "repulse" indicator is not limited to known bounds, levels are dynamic — the "zero" value too. That makes it more responsive in the times of elevated volatility. Alerts are triggered based on the color change.
Included:
Bar coloring
Signals
Alerts
Your choice of moving average for smoothing
