Like Deviation from MA, the indicator displays values of maximum deviation between MA and the price. However, unlike Deviation from MA, it uses a colored histogram in a separate window. Frames are used to detect maximum values (as when searching for fractals).
It has four inputs:
Period – ΠΠ calculation period
Method – ΠΠ calculation method
Applied price – ΠΠ calculation price
Frames – size of one frame, within which the search for a maximum deviation is performed
Detected maximum deviations within a frame are marked with colored histogram columns:
maximum deviation downwards from ΠΠ is marked in blue
maximum deviation upwards from ΠΠ is marked in red.
Fig. 1. Deviation from MA oscillator
Fig. 2. Deviation from MA oscillator + Deviation from MA
