Average Penetration Indicator
The Average Penetration Indicator, as enhanced, offers traders a more versatile tool than the original by Markos Katsanos. It allows users to customize the penetration criteria, choosing between close prices or high/low prices for analysis. Furthermore, the indicator incorporates a choice of four different averaging methods: Simple Moving Average, Exponential Moving Average, Smoothed Moving Average, and Linear Weighted Moving Average, providing flexibility in adapting to various market conditions and trading strategies.