The Moving Average Envelopes Percentage indicator shows the price as a percentage of the Envelopes channel.
There are five inputs:
- Period – calculation period;
- Deviation;
- Applied price;
- Overbought – the overbought level is set to 100% of the Envelopes channel by default;
- Oversold – the oversold level is set to 0% (bottom edge) of the Envelopes channel by default.
Calculations:
MAE = 100 * (Applied price - DN) / (UP - DN)
where:
UP = MA * (1+Deviation / 100.0) DN = MA * (1-Deviation / 100.0) MA - MA(Applied price, Period)
Fig. 1. MAE
Fig. 2. MAE + Envelopes
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