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 - МА calculation period
Method - МА calculation method
Applied price - МА 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 МА is marked in blue
- maximum deviation upwards from МА is marked in red.
Fig. 1. Deviation from MA oscillator
Fig. 2. Deviation from MA oscillator + Deviation from MA