Chart label for price within X% of moving average


Category:
0
0

Hi Pete, let me try again…
Can you help me create a chart label that turns green, when the 21ema is within 1/2% of price, otherwise it would be red. I’ve tried looking at examples but I can’t seem to get it right.

RESOLVED
Marked as spam
Posted by (Questions: 3, Answers: 1)
Asked on May 7, 2022 2:11 pm
243 views
0
Private answer

I am borrowing some code from a previous solution to perform the percent computation:

https://www.hahn-tech.com/ans/price-within-x-of-sma/

I also added some new inputs to allow users to control the moving average parameters from the user inputs so they don't have to try and modify the code.

Aside from that I only added the AddLabel() statement. The label displays whatever has been selected as the percent threshold and the length of the moving average. This allows users to add this chart study to the chart multiple times and adjust each one to a different moving average.

input xPercent = 0.5;
input maLengthOne = 21;
input maTypeOne = AverageType.EXPONENTIAL;
input maPriceOne = close;
plot maOne = MovingAverage(maTypeOne, maPriceOne, maLengthOne);
def signal = close > maOne * (1 - xPercent * 0.01) and close < maOne * (1 + xPercent * 0.01);
AddLabel(yes, Concat(xPercent, Concat("% from ", Concat(maLengthOne, " period ma"))), if signal then Color.GREEN else Color.RED);

Marked as spam
Posted by (Questions: 37, Answers: 4118)
Answered on May 7, 2022 2:33 pm
0
Perfect, Thank you Pete! I very much enjoy learning from you. You're on another level.
( at May 7, 2022 2:42 pm)
0
Hi Pete, a quick follow-up question if I may. I am trying to add the option to choose the aggregation period but continue getting errors! I want to use this study to show the % distance of the Daily moving average, on my 5-minute chart. Thank you for your time and consideration!
( at April 4, 2024 9:27 pm)
0
Check the solution in the following post. This shows how to compute daily moving averages from an intraday time frame chart. You would also need to modify the "def signal" statement to reverence the close from the daily time frame: https://www.hahn-tech.com/ans/add-label-for-2-different-ema-crossover/
( at April 4, 2024 9:36 pm)