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This indicator tells you whether a security is trending up or down based on ten moving averages (instead of just one). This is accomplished by calculating ten moving averages with different periods (20, 40, 60 ..., and 200) and then comparing them with the close price. For each trading bar, it loops through the different moving averages and adds one to a variable each time the close is higher that a moving average. In other words, this technical analysis indicator returns the number of moving averages that are currently below the close price.
The indicator value oscillates between 0 and 10 where:
A value of zero indicates that the stock is trading below these ten moving averages and therefore it is trending down.
A value of ten indicates that the stock is trending up and that it is trading above all the short-term, medium-term and long-term moving averages.
Function Info:
The function is parameterless and its name is "closeMA".
