This risk indicator uses the extension of the closing price to the 20W SMA and displays a color-coded risk oscillator. The higher the oscillator is, the greater the short-term risk and vice-versa. This indicator has historically worked well for estimating the short-term risk of Bitcoin and Ethereum on a weekly timeframe.
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Bumped version to v5 and added smoothing inputs with SMA and EMA.
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Updated the risk color by using HSL gradient and added a toggle to enable/disable the fill.
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- Added a vertical and horizontal gradient toggle alongside the existing fill toggle
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- Removed dead code