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Moving Average Deviation
Definition
The Moving Average Deviation study calculates the gap between the current market price and a selected moving average. This gap is expressed either in points or percentages. The study essentially quantifies how far the price has strayed from its moving average.
Suggested Trading Use
Keep an eye on this indicator to gauge market sentiment. If the deviation is increasing, it suggests that the current price movement is becoming stronger compared to the average, which might indicate a potential continuation or reversal depending on the broader trend.
Conversely, a shrinking deviation could imply that the market is reverting to its mean, signaling less volatility or the possibility of a trend change. Use this study to better understand price behavior in relation to its average, aiding you in entry or exit strategy formulation.