What script would I use to identify a change in the MA from a previous peak so that it is reflecting a change in the slope of the MA? For example, the 40MA falls by more than 2% from the last peak.
Hi Brad,
We can use a highest high function for this. The only caveat is that we need to set an appropriate look back. I’ve gone with 80 as it is double the MA length.
// calc the moving average m1 = MA(BARS=40); // get the highest high of the MA h1 = HIGHESTHIGH(m1, BARS=80); // calc the change down c1 = (h1 - m1) / h1 * 100; // is it above 2% c1 CrossesAbove 2
Hope this helps
Mathew