Elder's Market Thermometer - THERM

 

Parameters:

• Color Above MA - Bar color above MA
• Color Below MA - Bar color below MA
• Color Threshold - Bar color that reaches threshold
• Label - The text that identifies the AD plot
• Line Type - The type of plot to draw
• MA Color - Color of the MA plot
• MA Label - The text that identifies the MA plot
• MA Line Type - The type of MA plot to draw
• MA Period - Period of the MA
• MA Type - Type of MA to use
• Smoothing - Number of smoothing bars to use on THERM values before MA is applied.
• Smoothing Type - The type of smoothing to use.
• Threshold - Threshold value

Description:

The "Market Thermometer" indicator is described in Dr. Alexander Elder's book _Come Into My Trading Room_, p.162

Formula Reference:

Syntax	THERM(MA Type, MA Period, Threshold, Smoothing Type, Smoothing)
Function	Input can be either an array of bars or a formula variable array of data.
Example	THERM(EMA, 22, 3, EMA, 2)