Well to be honest I don't know what to name this indicator lol. But anyway, here is my another original work! Gonna give some background of why I create this indicator, it's all pretty much a coincidence when I'm learning about time series analysis. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
Well, the formula of Auto-covariance is: E{(X(t)-(t) * (X(t-s)-(t-s))}= Y_s
So how to use this indicator? It's so easy! If the value is above 0, we gonna expect a bullish response, if the value is below 0, we gonna expect a bearish response; that simple. Be aware that you should wait for the price to be closed before executing a trade.
Well, try it out! So far this is the most powerful indicator that I've created, hope it's useful. Ciao.
(more updates for the indicator if needed)
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Fixed: - line plots NaN/Incomplete line. - Some timeframes plot NaN.
Usage reminder: - If the resolution is lower than 10 Minutes, it won't plot anything. Please use a resolution equal to or above 10 Minutes.
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Updating the Indicator Preview
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Added src input
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Added PVMA
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Added invert value option
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Added custom symbol option and an option to multiply the value by price
Hi!! Thanks for the indicator ;) I have a question.. Disappears on BTC 1w chart… what could be happening?
Tenozen
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Hey, @jcerezo010 thanks for using my indicator! Ah, it's because I limit the calculation. So when there is a new week, all calculations gonna have a value reset to 0. I'll add an option so you can choose the time period, so look forward to the update!
Tenozen
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I update the indicator, you don't need to choose the time period for the calculation, cause I already make the indicator to choose the best period for the current timeframe you're using. For the 'D' timeframe, some values don't plot, I've tried getting those missing values but I can't lol. Well, hope it works now for you!
jcerezo010
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@Tenozen, oh! thanks a lot again!! hehe. it's a curious indicator, do you use it as an trigger to your analisis, or just as a another signal to take in mind ?)
Tenozen
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@jcerezo010, well for me, it's just another signal to take in mind. Cause this indicator is pretty much a trend-following indicator, it doesn't mean that every time it cuts the zero line, it's a good entry signal. The problem, for now, is that I couldn't expect the market is potentially starting or going to decay with the current state of the market. From what I noticed, the strength of the volume determines if it would start trending or not, the higher the timeframe would make fewer false signals and tend to trend, a market with fewer contributing factors is easier to be expected with their price, and knowing the market participants on our trade would help us know how they behave with certain market conditions. Well, those points are just my hypothesis lol, I'll continue my research so I could boost up my learnings and help the community out with my useful indicators.
Yelian
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Thanks for sharing! I'm a bit confused with the tickers input. Does it take the input from whatever ticker you're looking at or from the ticker inside the indicator settings?
Firedrops
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@Yelian, it uses the symbol you set in the options. I believe the author's intention was to monitor the movement of a few related or macro-relevant assets while trading the main chart asset.
I have a question..
Disappears on BTC 1w chart… what could be happening?