Looking for a "countdown-like" or "distance-from" indicator

[Prov1322]

I am looking for a "countdown-like" or "distance-from" indicator that will provide real-time, tick-by-tick distance of the current price from a Moving Average (more specifically, an EMA).

For example, we have numerous types of countdown style tools for showing data such as amount of time remaining in a minute bar or the number of Ticks remaining in a Tick Bar, etc.

Is anyone aware of the existence of such a "distance-from" tool either within this Community Forum (I did do a search that was not successful) or in outside Forums (such as BMT).

Thanks in advance for your help!

[koganam]

I am looking for a "countdown-like" or "distance-from" indicator that will provide real-time, tick-by-tick distance of the current price from a Moving Average (more specifically, an EMA).

For example, we have numerous types of countdown style tools for showing data such as amount of time remaining in a minute bar or the number of Ticks remaining in a Tick Bar, etc.

Is anyone aware of the existence of such a "distance-from" tool either within this Community Forum (I did do a search that was not successful) or in outside Forums (such as BMT).

Thanks in advance for your help!

The distance of price from the EMA is:

double offset = Input[0] - EMA(Input, Period)[0];

Should be easy enough to put that in an indicator as the whole calculation. Just work through the tutorials in the NT Help to see how.

[Prov1322]

koganam...thanks for the line of code.

[Harry]

You do not even need to code it.

Just take the MACD indicator and set the period of the fast EMA to 1. Now the raw MACD shows the distance of price from the second EMA. The signal line smoothes that distance.

[Prov1322]

Harry...thanks for your reply.

Either I'm dense or I did not adequately describe what I am looking to do (Option 3...maybe both?!).

So far, I do not see this MACD mod, as you recommended, printing the number of Ticks (or any tick-by-tick measure) the EMA is away from the current price level.

[Harry]

Attached is a chart which shows an EMA(34) and a MACD (1,34,13). If you look at the chart you will understand that the MACD plot shows the distance of price from the EMA.

I have marked the bar, which is referenced by the data box.

-> the close of that bar is 1692.00
-> the value of the EMA(34) is 1684.97
-> the distance of price from the EMA(34) is therefore +7.03 points
-> the MACD value is +7.03 points

In case that you want to see that distance in ticks instead of points, you would need to modify the MACD by dividing the result by the TickSize of the instrument.

[Prov1322]

Harry...thanks for the explanation.