OPEN-SOURCE SCRIPT

Percentage Distance From Moving Average

This indicator shows the percentage that an asset price is above or below its 50-period simple moving average.

You can change the 50-period moving average to whatever you'd like in the settings of the indicator.

There are other versions of this indicator that are currently public, but they all use the exponential moving average instead of the simple moving average.
Breadth IndicatorsMoving AveragesTrend Analysis

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 publication is governed by House rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

Disclaimer