This is a simple Confirmation Indicator that I extensively use in my own trading. Hope others will benefit from it. Many times, we want to view where the broader index is going before exposing capital to individual stocks. Here's how to use it.
Input the correct Exchange and the Ticker.
Input the Simple Moving Average Period to be applied on the Index/other instrument.
Choose whether bars are colored or dots placed instead or both.
Bars will be colored green if the instrument is above it's moving average & red when below.