If you've been on the hunt for a reliable indicator to gauge the real market value, look no further! The RealValueExtended is an enhanced version of my original RealValue indicator, now featuring a new parameter that smooths out the chart and slows down the direction changes.
The concept behind this indicator is simple yet powerful: we wanted to create a tool that shifts direction at a more measured pace than the market price itself. This makes it a more robust alternative to traditional moving averages.
Here's how it works: the indicator trends upwards when the price is above it and continues to climb, while it dips when the price falls below it. The speed of these movements is proportional to the average differences between the highs and lows of bars, based on a period you can customize.
What's great about the RealValueExtended is its versatility. You can use it on its own, or pair it with a second RealValueExtended indicator set to different parameters to identify crossing points for even more trading insights.
Comments 0