Offset Moving Average

While Moving Averages can often serve as excellent forms of support or resistance, they are rarely perfect. Often times the price will either stop short or penetrate the moving average and at times it can almost seem consistent. The Offset Moving Average indicator allows for a moving average to be offset by a percentage (as well as time) in order to see if the price has an offset correlation to a moving average.

Offset Moving Average supports a dual color line, in order to better see when the MA has been crossed. It can be used for an SMA , EMA , TEMA or VWMA average with an adjustable source, length and color.

Lastly, Offset Moving Average supports showing the daily moving average on all intervals. This can be disabled in Settings.

Have modification ideas for this indicator? Just let me know and I will gladly consider them!