Additionally, Igor, I have got something to propose.
If you like you can enhance the indicator you made.
I am absolutely sure you know about standart deviations of prices.
My proposal is to integrate an algo into the indicator - the algo that calculates SDs bands. The example of SDs' calculations I use is attached below. The SDs are clearly calculated as to the VWMA (number 19 MA).
What does it give us?
1/ It gives us overbought/oversold areas for each of your MAs
2/ It gives us a possibility to show the average dispersion price area for each MAs.
Best,
D.P.
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