Smoothed Repulse w/ Floating Levels [Loxx]

Smoothed Repulse w/ Floating Levels indicator measures and displays the bullish or bearish pressure associated with each price candlestick in the form of a curve.

It is more relevant when compared to price and offers valuable additional information on the feeling and confidence that traders have about the markets.

This version can use one of the 4 basic averages types for smoothing.

Coloring can be chosen depending on :

• slope
  
• outer levels cross
  
• middle ("zero") level cross
  

Since the "repulse" indicator is not limited to known bounds, levels are dynamic — the "zero" value too. That makes it more responsive in the times of elevated volatility. Alerts are triggered based on the color change.

Included:

• Bar coloring
  
• Signals
  
• Alerts
  
• Your choice of moving average for smoothing