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MA Distance Indicator

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The distance from a moving average is a common way to look at how extended a stock is. This simplifies it a bit by plotting the distance below the chart, so you don't have to eyeball estimate it.

This indicator allows plotting the distance from 2 MAs, one is a histogram and one is a line.

The line MA is off by default.

The scale factor is in case you are using it intraday, it helps with small multiples of the Moving Average that would be common intraday.

"Scale by" lets you decide if the distance is measured as a percentage of the moving average level or as a count of ATRs.

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