This indicator displays the distance between the current price and three exponential moving averages (EMAs): 25, 50, and 100 periods. Here's a breakdown of what it does:
It calculates three EMAs: 25, 50, and 100-period It measures the distance from the current price to each EMA in both ticks and pips It displays these distances in a customizable panel on the chart
The script includes several customization options: - Text and panel color - Font size - Option to display distances in pips or ticks - Panel position (top right, bottom right, etc.)
The indicator helps traders quickly see how far price has moved away from these key moving averages, which can be useful for identifying potential reversion opportunities or trend strength.