Deviation from Mid MA5 & MA10 (%)

Title:
Deviation from Mid-Price MA5 & MA10 (%)

Description:
This script calculates and displays the percentage deviation of the current mid-price from its 5-day and 10-day simple moving averages.
The mid-price is defined as the average of the open and close prices: (Open + Close) / 2

Instead of relying on traditional close-based MAs, this version uses mid-price to better reflect actual price flow by incorporating both the opening and closing values.

Main features:

Displays % deviation from both 5-day and 10-day mid-price moving averages

Better alignment with intraday reality due to gap-sensitive mid-price base

Smooths out erratic closing spikes for clearer signals

Helps identify overextended moves and potential pullback zones

Included lines:

Deviation from 5-day Mid MA

Deviation from 10-day Mid MA

Zero baseline for reference

Recommended for:

Traders seeking a cleaner measure of price deviation

Short-term pullback or re-entry strategy users

Anyone analyzing steady, low-volatility uptrends