Difference Between Candle Close and Fibonacci MA AVG

Indicator calculates the first 17 Fibonacci moving averages and then finds the average. The difference between the close price and average Fibonacci MA and is then "scaled" by dividing the average Fibonacci MA.

Indicator shows the MA trend and can show possible support and resistance. Indicator shows an oscillation between an asset being overbought and oversold. Each asset has its own oscillation profile.

diff = (close - avgFibMA)/avgFibMA