Moving Average Percentage Hunter by Hassonya

The Moving Average Percentage Hunter indicator provides a dynamic tracking system to identify how close price action is to various moving averages based on a user-defined percentage threshold. This tool allows traders to monitor price proximity to key technical levels in real-time, helping to identify potential reaction turns and mean reversion opportunities.

Usage

The Usage section focuses on the practical application of the proximity labels and moving average configurations. Users can define up to five different moving averages to monitor simultaneously. The primary output is a dashboard label that lists which moving averages are within the specified "Proximity Percentage."

Examples of usage include:

• Mean Reversion: Monitoring when the price is significantly far from its moving averages to anticipate a pull-back.
• Support/Resistance Confirmation: Identifying which specific moving average (e.g., EMA 50 or SMA 200) the price is currently testing by checking the "Closest MA's" list.
• Trend Following: Using the Silver, Golden, and Death Cross markers to identify momentum shifts between selected moving average pairs.

The script supports Heikin Ashi candles through a specific toggle in the settings, ensuring that proximity calculations align with the selected chart type.

Details

The indicator calculates the absolute percentage distance between the source price and each of the five active moving averages. If the distance is less than or equal to the "Percent" setting, that specific moving average is flagged as "Near" in the display panel.

The tool includes several technical features:

• MA Variants: Supports Simple (SMA), Exponential (EMA), Weighted (WMA), Triangular (TMA), and Hull (HullMA) moving averages.
• Cross Detection: Includes logic for Silver Crosses (customizable fast/slow pairs) and Golden/Death Crosses.
• Volume Analysis: Displays total volume and a volume comparison ratio to provide context for price movements near moving averages.
• Dynamic Labeling: The dashboard updates its position based on the "Panel" location setting to prevent overlapping with price bars.

Settings

General Settings

• Source: The price data used for MA calculations (e.g., Close, Open, HL2).
• Heikin Ashi Candles?: When enabled, uses Heikin Ashi data for calculations to reduce noise.
• Show MA's?: Toggles the visibility of the moving average lines on the chart.
• Show MA Values?: Displays the specific price value of the MA within the distance list.
• Show Distance?: Displays the live percentage distance for all active moving averages.

Moving Averages Settings

• MA1–MA5 Active: Toggles individual moving averages on or off.
• Length: Sets the lookback period for the specific moving average.
• Type: Selects the calculation method (SMA, EMA, WMA, TMA, or HullMA).

Menu Settings

• Percent: Sets the threshold for "nearness." If an MA is within this percentage of the price, it appears in the "Closest" list.
• Size: Adjusts the visual size of the dashboard label.
• Panel: Controls the horizontal offset of the dashboard label from the current bar.

Cross Settings

• Silver Cross / Golden Cross: Enables visual markers and alerts for crossovers between two user-selected moving average slots (e.g., MA1 crossing MA2).

FAQ

How do I adjust the proximity sensitivity?
You can modify the "Percent" value in the Menu Settings. For example, setting it to 1.0 will only flag moving averages that are within 1% of the current price.

Can I use this with different moving average types simultaneously?
Yes, each of the five moving average slots can be assigned a different type (e.g., Slot 1 as an EMA and Slot 2 as a HullMA).

How do I access the Moving Average Percentage Hunter?
You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.