Hi everyone,
I was wondering if anyone knows a way to highlight/shade areas in a chart based on the percentage of a moving average such as the 9EMA. The reason for this is to more quickly identify stocks that are getting extended from the moving average in order to assess opportunities for a play on pullbacks. Bonus if an alert can be set when the price crosses over the highlighted region.
I have tried to draw a (poor) representation of what it would look like based on a 1% gap from the 9EMA (orange line) on the 1min chart below:
Any tips or ideas are greatly appreciated!
Thanks,
Kel