Search for consolidations - AstroHubThe indicator is designed to identify consolidation periods on the chart of a trading instrument.
Key factors and parameters to consider when using this indicator:
1. Consolidation length (consol_length): This parameter allows you to set the length of the period in which consolidation will be sought. The higher the value, the longer consolidation periods will be taken into account. The recommended value is 20.
2. Calculation of the mathematical model: The indicator is based on a mathematical model that calculates the average price range (avg_range) within the specified consolidation period. Then, the exponential moving average of the obtained values is averaged (ta.rma) to obtain consolidation. If the price range is smaller than the consolidation value, the current period is considered consolidation.
3. Chart display: The program allows you to display consolidation on the chart as a label (plotshape) beneath the candlesticks. Consolidation will be shown in blue with the label "Consolidation". The indicator is placed below the current candlesticks.
How to use the indicator:
1. Load the script into your market analysis platform (e.g. TradingView).
2. Set the desired consolidation length (consol_length).
3. The indicator will automatically calculate consolidation based on the specified length.
4. Blue labels with the text "Consolidation" will be displayed on the chart for each consolidation period.
Important points to consider when using this indicator:
1. The indicator does not predict the direction of price movement after consolidation. It only shows consolidation periods on the chart.
2. The results of the indicator may vary depending on the chosen consolidation length. It is recommended to conduct several experiments with different values to find the optimal period for the instrument and timeframe.
I hope this description helps you better understand and assess the functionality and application of this indicator. Good luck with your usage!
Indicadores de Banda
TraderJoe TickMarket sentiment and market breadth are important factors for traders to consider when making trading decisions.
The TICK index , which reflects the buying and selling activity of an entire index, can provide valuable insights into market sentiment and breadth.
1. Assessing Market Sentiment:
- Positive TICK: When the TICK index is consistently positive (indicating more stocks are being bought at or above the asking price), it suggests overall bullish sentiment in the market.
- Negative TICK: Conversely, a consistently negative TICK indicates bearish sentiment, where more stocks are being sold at or below the asking price.
2. Market Breadth:
- Look at the TICK readings for various market indexes, not just one. If all major market indexes are experiencing the same sentiment (e.g., all have aggressive buyers), it's a stronger signal of a broader market trend.
3. Using the TICK for Entry and Exit:
- Positive TICK can be an entry signal for long positions. Traders might consider going long when the TICK index is consistently positive, indicating strong buying pressure in the market.
- Negative TICK can be an entry signal for short positions. When the TICK is consistently negative, it suggests selling pressure, making shorting more attractive.
- Exit positions or take profits when the TICK starts to show signs of reversing from its extreme levels. An excessively positive TICK might indicate overbought conditions, while an overly negative TICK may signal oversold conditions.
4. Combining TICK with Other Indicators:
- It's often beneficial to combine TICK analysis with other technical and fundamental indicators to increase the accuracy of your trading decisions. For example, you could use moving averages, RSI, or support and resistance levels to confirm your entry and exit points.
5. Low Float Stocks and TICK:
- Low float stocks can be more volatile, making TICK analysis even more crucial. In these cases, watch for extreme TICK readings, as they can trigger rapid price movements.
- Be cautious when trading low float stocks, as they can be susceptible to price manipulation due to limited liquidity. Use proper risk management techniques, like setting stop-loss orders.
6. Stay Informed:
- Keep an eye on news and events that might explain sudden shifts in market sentiment. Unexpected news, economic releases, or geopolitical events can quickly change market dynamics.
Asset PerformanceThis indicator calculates actual changes in the asset value, based on the assumption that changes in the dollar value are correlated with changes in the dollar index.
The calculation begins by converting the asset price to dollars. It is then multiplied by the dollar index. This value itself has no inherent meaning, but changes in this value reflect actual changes in the asset value.
SETTINGS
Bars
The calculation starts from the number of bars back.
Assets for comparison
Optional. Any 6 assets for comparison.
Enabling the ADJ on the chart will display the value including dividends.
Combined Indicator by rocky vermaThe combined indicator you've provided consists of three different indicator logics. Here's how to use it:
1. **Indicator 1: Trend Trader AVR Strategy**
- This indicator is based on the Trend Trader AVR Strategy.
- It uses three input parameters: `Length1`, `LengthMA1`, and `Multiplier1`.
- The indicator plots a moving average (`nResMA1`) and changes the bar color based on certain conditions.
- The conditions for changing the bar color are defined in the `pos1` variable.
2. **Indicator 2: HYE Trend Hunter**
- This indicator is based on the HYE Trend Hunter strategy.
- It uses various input parameters such as `slowtenkansenPeriod`, `slowkijunsenPeriod`, `fasttenkansenPeriod`, and `fastkijunsenPeriod`.
- The logic of this indicator is not fully provided in your code snippet, but it seems to calculate various values related to the HYE Trend Hunter strategy.
3. **Indicator 3: Phenom**
- This indicator provides EMA (Exponential Moving Average) lines with different lengths.
- It allows you to configure whether to display EMA lines and their colors.
- Additionally, it provides options to display stop loss levels based on ATR (Average True Range).
To use this combined indicator:
- Apply it to a chart in TradingView by copying the entire code snippet and pasting it into the Pine Script editor.
- Configure the input parameters for each of the three indicator logics as desired. You can adjust the input values in the indicator's settings panel on the chart.
- You can also modify the indicator's appearance by changing the plot colors or turning on/off specific components.
- Once you have configured the input parameters and appearance settings to your liking, you can then interpret the signals and information provided by the three indicator logics on the chart.
Keep in mind that this is a basic combination of the three indicators you provided, and it may require further customization to meet your specific trading strategy and preferences. Additionally, ensure you thoroughly understand the strategies and conditions used by each of the indicators to make informed trading decisions.
Opportunity_SniperThis script is based on divergence situation related to momentum and price.
For this we have 4 strategies divergence calculation :
So user can choose which strategy will be applied on chart from input. one of them or all of them.
Also user can activate swing High ang swing Low be shown on chart.
Below explanation of strategy what is doing :
Strategy 1 or Strategy 2 script tracks the price and compares it with momentum indicators to detect positif and negative divergnce
While strategy 3, script monitors the momentum and compares it with the price to detect positif and negative divergnce
Finally strategy 4, script monitors the momentum and compares it with the volume to detect positif and negative divergnce
How to use or benefit from script:
For Long position :
Depending on whiche strategy you will choose, when the Div Buy stgx signal appears, this means the appearance of Divergence, which leads to the beginning of bull Buy Momentum.
Wait for the conf Buy signal to appear and confirm your long entry and put your Stop Loss below the last swing low candle
For short position :
Depending on whiche strategy you will choose, When the Div Sell stgx signal appears, this means that Divergence has appeared, which leads to the start of Bearish Sell Momentum.
Wait for the conf Sell signal to appear and confirm your short entry and put your Stop Loss above the last swing high candle
Disclaimer
The content within my Scripts, Indicators, Ideas, Algorithms, and Systems is not intended as financial advice or an invitation to trade or invest in any securities.
I disclaim liability for any losses or damages, including loss of profit, arising directly or indirectly from reliance on the information provided.
All investments entail risks, and past performance of securities, industries, sectors, markets,
financial products, trading strategies, backtests, or individual trading does not guarantee future outcomes or returns.
Traders bear full responsibility for their investment choices, predicated on their financial circumstances, objectives, risk tolerance, and liquidity requirements.
My Scripts, Indicators, Ideas, Algorithms, and Systems are purely for educational purposes!
OBV Daily High Low Box Realtime (On Balance Volume)Overview
This indicator plots horizontal lines at the daily high and low levels of the On Balance Volume (OBV).
The numerical lines for each day are updated in real-time as the OBV high and low values change.
Please note that there are limitations on how far back in history the indicator can go due to Pine Script's object drawing limitations.
Multi-Asset Performance [Spaghetti] - By LeviathanThis indicator visualizes the cumulative percentage changes or returns of 30 symbols over a given period and offers a unique set of tools and data analytics for deeper insight into the performance of different assets.
Multi Asset Performance indicator (also called “Spaghetti”) makes it easy to monitor the changes in Price, Open Interest, and On Balance Volume across multiple assets simultaneously, distinguish assets that are overperforming or underperforming, observe the relative strength of different assets or currencies, use it as a tool for identifying mean reversion opportunities and even for constructing pairs trading strategies, detect "risk-on" or "risk-off" periods, evaluate statistical relationships between assets through metrics like correlation and beta, construct hedging strategies, trade rotations and much more.
Start by selecting a time period (e.g., 1 DAY) to set the interval for when data is reset. This will provide insight into how price, open interest, and on-balance volume change over your chosen period. In the settings, asset selection is fully customizable, allowing you to create three groups of up to 30 tickers each. These tickers can be displayed in a variety of styles and colors. Additional script settings offer a range of options, including smoothing values with a Simple Moving Average (SMA), highlighting the top or bottom performers, plotting the group mean, applying heatmap/gradient coloring, generating a table with calculations like beta, correlation, and RSI, creating a profile to show asset distribution around the mean, and much more.
One of the most important script tools is the screener table, which can display:
🔸 Percentage Change (Represents the return or the percentage increase or decrease in Price/OI/OBV over the current selected period)
🔸 Beta (Represents the sensitivity or responsiveness of asset's returns to the returns of a benchmark/mean. A beta of 1 means the asset moves in tandem with the market. A beta greater than 1 indicates the asset is more volatile than the market, while a beta less than 1 indicates the asset is less volatile. For example, a beta of 1.5 means the asset typically moves 150% as much as the benchmark. If the benchmark goes up 1%, the asset is expected to go up 1.5%, and vice versa.)
🔸 Correlation (Describes the strength and direction of a linear relationship between the asset and the mean. Correlation coefficients range from -1 to +1. A correlation of +1 means that two variables are perfectly positively correlated; as one goes up, the other will go up in exact proportion. A correlation of -1 means they are perfectly negatively correlated; as one goes up, the other will go down in exact proportion. A correlation of 0 means that there is no linear relationship between the variables. For example, a correlation of 0.5 between Asset A and Asset B would suggest that when Asset A moves, Asset B tends to move in the same direction, but not perfectly in tandem.)
🔸 RSI (Measures the speed and change of price movements and is used to identify overbought or oversold conditions of each asset. The RSI ranges from 0 to 100 and is typically used with a time period of 14. Generally, an RSI above 70 indicates that an asset may be overbought, while RSI below 30 signals that an asset may be oversold.)
⚙️ Settings Overview:
◽️ Period
Periodic inputs (e.g. daily, monthly, etc.) determine when the values are reset to zero and begin accumulating again until the period is over. This visualizes the net change in the data over each period. The input "Visible Range" is auto-adjustable as it starts the accumulation at the leftmost bar on your chart, displaying the net change in your chart's visible range. There's also the "Timestamp" option, which allows you to select a specific point in time from where the values are accumulated. The timestamp anchor can be dragged to a desired bar via Tradingview's interactive option. Timestamp is particularly useful when looking for outperformers/underperformers after a market-wide move. The input positioned next to the period selection determines the timeframe on which the data is based. It's best to leave it at default (Chart Timeframe) unless you want to check the higher timeframe structure of the data.
◽️ Data
The first input in this section determines the data that will be displayed. You can choose between Price, OI, and OBV. The second input lets you select which one out of the three asset groups should be displayed. The symbols in the asset group can be modified in the bottom section of the indicator settings.
◽️ Appearance
You can choose to plot the data in the form of lines, circles, areas, and columns. The colors can be selected by choosing one of the six pre-prepared color palettes.
◽️ Labeling
This input allows you to show/hide the labels and select their appearance and size. You can choose between Label (colored pointed label), Label and Line (colored pointed label with a line that connects it to the plot), or Text Label (colored text).
◽️ Smoothing
If selected, this option will smooth the values using a Simple Moving Average (SMA) with a custom length. This is used to reduce noise and improve the visibility of plotted data.
◽️ Highlight
If selected, this option will highlight the top and bottom N (custom number) plots, while shading the others. This makes the symbols with extreme values stand out from the rest.
◽️ Group Mean
This input allows you to select the data that will be considered as the group mean. You can choose between Group Average (the average value of all assets in the group) or First Ticker (the value of the ticker that is positioned first on the group's list). The mean is then used in calculations such as correlation (as the second variable) and beta (as a benchmark). You can also choose to plot the mean by clicking on the checkbox.
◽️ Profile
If selected, the script will generate a vertical volume profile-like display with 10 zones/nodes, visualizing the distribution of assets below and above the mean. This makes it easy to see how many or what percentage of assets are outperforming or underperforming the mean.
◽️ Gradient
If selected, this option will color the plots with a gradient based on the proximity of the value to the upper extreme, zero, and lower extreme.
◽️ Table
This section includes several settings for the table's appearance and the data displayed in it. The "Reference Length" input determines the number of bars back that are used for calculating correlation and beta, while "RSI Length" determines the length used for calculating the Relative Strength Index. You can choose the data that should be displayed in the table by using the checkboxes.
◽️ Asset Groups
This section allows you to modify the symbols that have been selected to be a part of the 3 asset groups. If you want to change a symbol, you can simply click on the field and type the ticker of another one. You can also show/hide a specific asset by using the checkbox next to the field.
Advanced Optimized VSA - 15 MinThis script is written in Pine Script and is designed to be run on the TradingView trading platform. It is an advanced technical analysis indicator that utilizes various methods and indicators to generate trading signals based on a Volume Spread Analysis (VSA) approach.
Here's a detailed breakdown of its functionalities:
### Customizable Parameters:
1. `scoreLabel` and `TDLabel`: Customizable labels for score and trend direction.
2. `labelColorScore` and `labelColorTD`: Colors for the score and trend direction labels.
### Base Indicators and Variables:
1. `spread`: Calculates the difference between the high and low of a candle.
2. `emaVolume`: Exponential moving average of volume over a 21-period range.
3. `rsi14`: Relative Strength Index (RSI) over a 14-period range.
4. `sma200` and `ema50`: Simple moving average over a 200-period range and exponential moving average over a 50-period range, respectively.
5. `volatility`: Calculates the 14-period Average True Range (ATR) to determine volatility.
6. `trendDirection`: Establishes the trend direction based on the SMA200.
### Risk Management:
1. `atrValue`: Calculates the value of the ATR.
2. `stopLoss` and `takeProfit`: Calculates the stop-loss and take-profit levels based on the ATR.
### MACD:
Computes the MACD line, signal line, and histogram.
### Volume Analysis:
1. `weightedVol`: Weighted volume.
2. `forceFactor`: Measures the strength of price movement in relation to volume.
### Support and Resistance:
1. `support` and `resistance`: Calculates support and resistance levels based on the most recent 50 periods.
### Liquidity Check:
1. `isLiquid`: Checks if an asset is sufficiently liquid.
### Score Calculation:
Evaluates various factors such as price position relative to support/resistance levels, RSI, MACD, strength of movement, and volatility to generate a score.
### Criteria for Final Signals:
1. `isBullSpread` and `isBearSpread`: Generates a bullish or bearish signal based on various factors, including the score, trend direction, and liquidity.
### Notifications:
Generates alert conditions for bullish and bearish signals.
### Graphical Elements:
Displays various indicators and signals on the chart, including stop-loss, take-profit, SMA200, EMA50, and support and resistance lines.
### Debugging Labels:
Shows labels on the chart for score and trend direction.
The goal is to provide a comprehensive picture of the current asset, taking into consideration various factors and generating potentially profitable trading signals.
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Questo script è scritto in Pine Script e progettato per essere eseguito sulla piattaforma di trading TradingView. È un indicatore di analisi tecnica avanzata che utilizza diversi metodi e indicatori per generare segnali di trading basati su un approccio Volume Spread Analysis (VSA).
Ecco un riepilogo dettagliato delle funzionalità:
### Parametri personalizzabili:
1. `scoreLabel` e `TDLabel`: Etichette personalizzabili per i punteggi e la direzione del trend.
2. `labelColorScore` e `labelColorTD`: Colori delle etichette per punteggio e direzione del trend.
### Indicatori e variabili base:
1. `spread`: Calcola la differenza tra il massimo e il minimo di una candela.
2. `emaVolume`: Media mobile esponenziale del volume con un periodo di 21.
3. `rsi14`: RSI (Relative Strength Index) con un periodo di 14.
4. `sma200` e `ema50`: Media mobile semplice con un periodo di 200 e media mobile esponenziale con un periodo di 50, rispettivamente.
5. `volatility`: Calcola l'Average True Range (ATR) con un periodo di 14 per determinare la volatilità.
6. `trendDirection`: Stabilisce la direzione del trend basata sulla SMA200.
### Gestione del rischio:
1. `atrValue`: Calcola il valore dell'ATR.
2. `stopLoss` e `takeProfit`: Calcola i livelli di stop-loss e take-profit basati sull'ATR.
### MACD:
Calcola le linee MACD, segnale e l'istogramma.
### Analisi del volume:
1. `weightedVol`: Volume ponderato.
2. `forceFactor`: Misura la forza del movimento del prezzo in relazione al volume.
### Supporto e resistenza:
1. `support` e `resistance`: Calcola i livelli di supporto e resistenza basati sui 50 periodi più recenti.
### Verifica della liquidità:
1. `isLiquid`: Verifica se un asset è sufficientemente liquido.
### Calcolo del punteggio:
Valuta diversi fattori come la posizione del prezzo rispetto ai livelli di supporto/resistenza, RSI, MACD, forza del movimento e volatilità per generare un punteggio.
### Criteri per i segnali finali:
1. `isBullSpread` e `isBearSpread`: Genera un segnale rialzista o ribassista basato su vari fattori, incluso il punteggio, la direzione del trend e la liquidità.
### Notifiche:
Genera condizioni di allarme per segnali rialzisti e ribassisti.
### Elementi grafici:
Visualizza diversi indicatori e segnali sul grafico, inclusi stop-loss, take-profit, SMA200, EMA50, e linee di supporto e resistenza.
### Etichette di debug:
Mostra etichette sul grafico per il punteggio e la direzione del trend.
L'obiettivo è fornire un quadro completo dell'asset corrente, prendendo in considerazione diversi fattori e generando segnali di trading potenzialmente profittevoli.
Buyer/Seller Dominance ©TMW
The "Buyer/Seller Dominance" indicator script, developed by Deepanshu Sharma under The Market Wisdom (TMW), is a powerful analytical tool designed for use on the TradingView platform. This script is released under the Mozilla Public License 2.0, and it offers traders and investors an innovative perspective on market dynamics by assessing the relative strength of buyers and sellers within a given time frame.
Key Features:
1. Dominance Calculation: The indicator calculates the dominance of buyers and sellers over a specified number of candles. Users can define the number of candles (`n`) to consider in the dominance calculation.
2. Visual Representation: The script provides a visual representation of buyer and seller dominance using colored columns on the price chart. Green columns represent buyer dominance, while red columns represent seller dominance.
3. Balance Line: The indicator includes a dashed horizontal line at the zero level, representing a balance point between buyer and seller dominance. When the green and red columns cross this line, it signifies shifts in market sentiment.
How it Works:
The script divides the historical price data into segments of specified candle count (`n`) and assesses each segment's dominance. It calculates the volume associated with both green (bullish) and red (bearish) candles within each segment.
If a candle's closing price is higher than its opening price, it is considered a green candle. Similarly, if the closing price is lower than the opening price, the candle is classified as red. The volume of each respective type of candle is then accumulated for each segment.
The script plots the cumulative green candle volume as the "Buyer Dominance" column and the cumulative red candle volume as the "Seller Dominance" column. This visual representation helps traders gauge the ebb and flow of buyer and seller strength in the market.
Disclaimer :
The indicator is provided for informational purposes only and should not be considered as financial advice. It's important to conduct thorough research and analysis before making any trading decisions. The creator, Deepanshu Sharma, and "The Market Wisdom" team are not responsible for any trading losses incurred based on the usage of this indicator.
Remember that trading involves risks, and historical performance may not necessarily predict future results. Always consider multiple indicators, market trends, and risk management strategies when making trading decisions.
JK - Q SuiteThis indicator is primarily for identifying pauses in Stage 2 uptrends, modelled on Qullamaggie's style of trading, but fits well with many traders including William O' Neil. or Mark Minervini.
I built this for my own purposes, and have gradually added range of tools into a single suite. My goal has also to be as clean as possible, while providing clear, actionable information.
This suite includes all of the following:
Moving averages (10, 20, 50, 200)
Coloured bars showing tightening price (blue under 75% of ADR, orange under 50% of ADR)
A 'markets' dashboard (top-right), showing the major indexes. Red if 10<20MA, or price <20MA
A 'sectors' dashboard (top-right, below markets). Red if 5<10MA, or price <10MA - see note below
Strength / Weakness information - two cells at the top, bottom-right. See below
Stock information - glanceable stock info as quick filters. The thresholds for ADR, Average volume, and Dollar Volume can be customised.
NOTE - if the 'tightening coloured candles' are not showing, the indicator needs to be at the top of the stack. Click the triple squares at the very bottom-right of the TradingView interface, and drag the indicator to the top, should work then!
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Sectors
These are based on the 11 official Sectors, tracked using index funds (XLY, XLK etc). HOWEVER, TradingView does NOT use the official 11 sectors - therefore I've done my best to match TradingViews ones to the official ones, but doesn't always work... e.g. 'Electronic Technology' is typically semiconductors, which are classes as 'Industrials', but Apple is the same sector in TV, but classed as 'Technology' using the official 11 Sectors.
If TradingView move to use the official 11 I'll update this, but for now it's a best guess and will sometimes be wrong, sorry!
Strength / Weakness information
This was an experiment in trying not to give too much back to the market! Typically the strategy would be to sell if price closes below 10MA (Weakness), however there may be large pops that can be advantageous to sell into.
The 'Strength' information (top cell, bottom-right), checks how far the price is extended above 10MA - this is customisable as a multiple of ADR. You may find that in weak markets (like now), it can be best to take profits quickly - in good markets, you could increase this as stocks make bigger or more sustained moves.
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While I'm not the best coder - and I've hacked and tried and changed different things - this has been a labour of love and essential for me.
If you have any suggestions, while I may or may not be able to implement them, I'm certainly open to ideas!
Zaree - Predictive Imparity Momentum IndicatorThe "Zaree - Predictive Imparity Momentum Indicator" (Z-PIMI) is a custom indicator designed to measure the momentum difference between two currency pairs. Let's break down its components and functionality:
Inputs:
pimiLength: Defines the period for the RSI calculation.
selectedMAType: Allows the user to choose the type of moving average (SMA, EMA, WMA, VWMA) they want to apply to the PIMI.
maLength: Defines the period for the chosen moving average.
baseCurrency & quoteCurrency: These are the two currency pairs that the user wants to compare.
Timeframe Selection:
The user can select a specific timeframe for the analysis, or they can use the chart's current timeframe.
Calculation of Currency Indices:
The closing prices of the Base Currency and Quote Currency are fetched for the selected timeframe.
The RSI (Relative Strength Index) is calculated for both currencies using the pimiLength.
The PIMI is then calculated by subtracting the RSI of the Quote Currency from the RSI of the Base Currency.
Moving Average Calculation:
A moving average of the PIMI is calculated based on the user's selected type (selectedMAType) and period (maLength).
Style Settings:
These are hardcoded values that define the levels for the upper and lower bands. These bands can help identify overbought or oversold conditions.
Highs and Lows Calculation:
The highest and lowest values of the PIMI over specified periods (highsLength and lowsLength) are calculated. These can help identify extreme values or turning points.
Plotting:
The PIMI is plotted as a white line.
The moving average of the PIMI is plotted as a purple line.
The upper and lower bands are plotted as horizontal lines at specified levels.
The highest and lowest values of the PIMI are plotted as red and green lines, respectively.
Interpretation:
The PIMI provides a measure of the momentum difference between two currency pairs. When the PIMI is rising, it indicates that the Base Currency is gaining momentum relative to the Quote Currency, and vice versa.
The moving average can be used as a signal line. For instance, when the PIMI crosses above its moving average, it might be considered a bullish signal, and when it crosses below, it might be considered bearish.
The upper and lower bands, as well as the highs and lows lines, can help identify overbought or oversold conditions. For example, if the PIMI reaches or exceeds the upper band, it might indicate overbought conditions, suggesting a potential reversal or pullback.
Overall, the Z-PIMI offers a tool to compare the momentum of two currency pairs and identify potential trading opportunities based on their relative strength and established thresholds.
3M_RANGE/ErkOzi/Hello Dear Investors,
Today, I'd like to introduce you to an indicator called "3M Range" and explain how this indicator is calculated, as well as the kind of strategy it can offer.
What is the 3M Range Indicator?
"3M Range" is an analytical tool designed to identify and visualize market movements within three-month periods. This indicator employs specific levels and Fibonacci levels to assist investors in understanding market trends.
How is it Calculated?
The indicator utilizes the opening, highest, and lowest prices of three-month periods starting on Mondays. By using these prices, the indicator tracks weekly opening prices and marks the opening prices every Monday.
How Does the Indicator's Strategy Work?
Using this indicator, you can refine your long-term investment strategies:
Identify Three-Month Periods: The indicator follows the opening, highest, and lowest prices in three-month periods. This allows for a clearer understanding of long-term trends.
Utilize Fibonacci Levels: The indicator calculates Fibonacci levels to show support and resistance levels. These levels can help predict potential reversals or ongoing movements.
Observe Monday Opening Prices: The indicator distinctly marks Monday opening prices. This helps you capture potential movements at the beginning of the week.
Evaluate Trends and Opportunities: By using the indicator, you can observe long-term trends and potential market opportunities more clearly.
In Conclusion,
The "3M Range" indicator provides long-term investors with a better analytical tool by showcasing market movements within three-month periods. The indicator marks Monday opening prices and allows for analysis supported by Fibonacci levels. By using this indicator, you can shape your long-term investment strategies more consciously.
Always remember that, as with anything, making careful and informed decisions is crucial when investing. I hope this indicator helps you better navigate your long-term investments.
Note: Understanding market risks and utilizing analytical tools carefully is always important. Best of luck!
TAPLOT Enhanced On Balance VolumePlease research more on your own the different ways you can use OBV, this post is not about the indicator itself but about the “enhancements” I coded on top of this volume indicator. But here is a quick overview:
The On-Balance Volume (OBV) indicator is a technical indicator that measures the flow of positive and negative volume. The indicator adds volume on days when the price rises and subtracts it on days when the price declines.
It's considered a leading indicator because volume often leads price. An up trending OBV line is an indication of institutional accumulation.
Enhancements:
1) Dots to indicate OBV line New High (NH) and New High Before Price (NHBP).
The look back period by default is set to 3 months but could be changed to 6 or 12 months from indicator setting.
An OBV line that is making NHBP increases success probabilities of a long trade setup.
2) The OBV line changes color depending on the Up/Down Volume Ratio to quickly visualize the intensity of buying and selling pressure.
Up/Down volume ratio of 1 and above indicates buying pressure. The higher the ration the more intense is the buying and visa versa.
Here is an example of SHOP from June 2021 that has the characteristics that increase the probability of this long setup being successful.
SHOP OBV turning Blue in May indicating buying pressure taking over.
While the stock was setting up (and pulling back in June), there was 6 NHBP dots indicating stock being accumulated.
You can also see how OBV line color goes from Blue (Buying pressure), to Cyan (Moderate buying pressure), to Green (Strong buying pressure) all while the setup is forming. Again, indicating stock being "quietly" accumulated.
TICK Strength Background ShadeThis indicator shades the background of each candle based on the strength off the current TICK.US chart. User can define the strength levels, which are by default set to 1-299 (lightest), 300-599, and 600+ (darkest). Best used on lower timeframe charts to help identify whether or not to remain in a trend, or if a trend is possibly reversing when you start to see the opposite color begin to appear following a trend.
Rectified BB% for option tradingThis indicator shows the bollinger bands against the price all expressed in percentage of the mean BB value. With one sight you can see the amplitude of BB and the variation of the price, evaluate a reenter of the price in the BB.
The relative price is visualized as a candle with open/high/low/close value exspressed as percentage deviation from the BB mean
The indicator include a modified RSI, remapped from 0/100 to -100/100.
You can choose the BB parameters (length, standard deviation multiplier) and the RSI parameter (length, overbougth threshold, ovrsold threshold)
You can exclude/include the candles and the RSI line.
The indicator can be used to sell options when the volatility is high (the bollinger band is wide) and the price is reentering inside the bands.
If the price is forming a supply or demand area it can be a good opportunity to sell a bull put or a bear call
The RSI can be used as confirm of the supply/demand formation
If the bollinger band is narrow and the RSI is overbought/oversold it indicate a better opportunity to buy options
the indicator is designed to work with daily timeframe and default parameters.
TEWY - Magic Strength Indicator V2My goal is to equip every trader and investor with the essential tools necessary to confidently navigate the complexities of the financial markets, enabling them to consistently identify opportunities and maintain a position of strength on the winning side of their trades. This indicator stands as an immensely powerful tool, delivering a comprehensive and robust approach to market analysis and decision-making.
Allow me to provide some context regarding the genesis of this indicator. The global financial landscape encompasses a multitude of markets, ranging from the money market to the stock market, cryptocurrencies, commodities, and beyond. Often, these markets display proportional or inverse correlations, unveiling the intricate interplay between them. At the heart of this concept lies a meticulous comparison between a selected ticker and other analogous markets. This analytical approach serves as a pathway to unearthing invaluable insights and intricate patterns across interconnected sectors.
So, I created this indicator, to empower you with the capability to select and construct combinations of up to seven comparable markets and offer a comprehensive perspective on market dynamics.
Let me to elucidate the intricacies of this indicator and delve into its versatile configurations. By understanding its components and tailoring its settings, traders can harness its full potential to make informed and strategic trading decisions.
Related to indicator configuration sections
Section 1. 'PRIMARY AND SECONDARY INDEX' and Section 2. 'GLOBAL REFERENCE INDEX'
To utilize this indicator, begin by configuring at least one comparison indicator in the "Primary Index" field. Additional options include the secondary index (which can function as a sector index) and five global indices. Furthermore, you have the flexibility to adjust their timeframes, allowing for comparisons across various time horizons.
Section 3. ADVANCED FEATURS
Consider a scenario where you've pulled up a chart for "NSE:BANKNIFTY" and desire to assess the relative strength of "NSE:NIFTY" in comparison to global indices. To accomplish this, explore the Advanced Feature section and toggle the "Use Different Base Ticker" option to "Yes." Subsequently, input "NSE:NIFTY" as the symbol/ticker in the designated box. This ingenious feature empowers you to evaluate the strength of "NSE:NIFTY" the backdrop of the "NSE:BANKNIFTY" chart. The result? A remarkably potent analytical capability at your fingertips! The possibilities it offers are indeed remarkable!
Section 4. LINE AND BARCOLOR RELATED
I have dedicated considerable effort to scrutinize historical patterns within the strength indicator of various symbols. Through meticulous analysis, I've identified pivotal conditions that often herald shifts in market or symbol trends. Leveraging this insight, I've devised a system to determine optimal strength line colors and bar colors. This strategic approach adds a layer of precision to the indicator, enhancing its effectiveness in recognizing and visualizing trend changes.
Recognizing the prevailing tendency of global markets to exhibit more upward momentum than downward movement, I've taken into account this inherent "Long Bias." With this understanding in mind, I've incorporated a unique feature that aims to prompt an early transition from red to green bar colors when there's a potential indication of a trend reversal from a downtrend. By proactively signaling the shift in color dynamics, this feature aligns with the overall upward-leaning nature of the markets, enabling traders/investors to respond swiftly to potential changes in trend direction.
By employing the 'Use Simple Method of Calculation,' the determination of strength line color is executed through a straightforward crossover technique. This approach proves particularly effective in scenarios where inverse correlations exist between the symbols or tickers being compared. Additionally, an 'Inverse Scale' option is available, wherein a simple multiplication by -1 is applied to all values. This ingenious feature offers a convenient perspective on symbols or tickers that exhibit inverse correlations, further enhancing the indicator's adaptability to a wide array of market dynamics.
**** It's important to note that the 'Change Bar Color' option is intentionally set to the default selection of 'No.' By design, only when you opt to set it to 'Yes' do custom bar colors come into play on the chart. This thoughtful design choice acknowledges the potential need to preserve bar colors when seeking to discern inverse correlations between symbols. Should you require a modification in bar colors, kindly select 'Yes' to initiate this change and access the custom color functionality.
Section 5. LABELS
Moreover, to facilitate ease of use and organization, I've included a practical feature for instances where you deploy this indicator multiple times on a single chart. Within this context, should you wish to assign quick tags to each instance, a dedicated free-text box is at your disposal. This allows you to conveniently label and categorize different instances of the indicator, ensuring a streamlined and efficient approach to managing your chart analyses.
I encourage you all to embark on a rewarding journey in your trading and investing endeavors. With this indicator as your ally, equipped with its potent analytical capabilities, may your path be marked by well-informed decisions and prosperous outcomes. Wishing you every success in your trading and investment journey!
Should you have any inquiries or require further clarification regarding this indicator, please do not hesitate to reach out to me via direct message. I am here to provide you with the necessary guidance and support to ensure your experience with this tool is both seamless and enriching. Your understanding and satisfaction remain my utmost priority.
By TEWY - Trade Easy With Yogesh
I am Yogesh
McClellan Indicators (Oscillator, Summation Index w/ RSI & MACD)Four indicators in one based on the McClellan Oscillator for both the NYSE and Nasdaq exchanges. Designed to be used in conjunction with each other- plot the Oscillator (Osc), Summation Index (MSI), and RSI/MACD of the MSI on both your SPX and Nasdaq chart. Select the exchange and indicator within the settings. These tools are secondary- but when the signals are combined with the action of the index and stocks can be helpful in identifying market turns and trend strength.
McClellan Oscillator--
The Osc is a market breadth tool that uses a fast and slow EMA based on the difference between advancing and declining stocks on the exchange. Used primarily to identify breadth thrusts, divergences, and extremes (oversold/overbought). Plot horizontal levels to see when the market internals are extremely overbought or oversold, and take note of when the Osc is declining while the market is advancing or vice versa.
McClellan Summation Index--
For intermediate trends the MSI is a running total of the Osc which can be used to confirm the strength of a trend, and spot potential reversals. A 10 period ema is included on this indicator, where crossovers can aid in spotting the change in trend of market internals, and divergences can identify when market internals are not in line with the trend. Shading is applied for when the internals are in a bullish or bearish trend.
Two additional indicators are the RSI and MACD of the Summation Index. An overbought or oversold MSI RSI generally indicates a strong trend in the market internals, however you may want to take note when the RSI stalls and begins to "hook" in the opposite direction. This indicator has signals to show when the market internals may be turning and to be on lookout for trend change.
Similarly- the MACD of the MSI identifies the strength of the trend, and crossovers can be used to help spot reversals. Shading is included in this indicator to spot the bullish/bearish trend of internals.
Cumulative Advance-Decline LineLine that shows the cumulative sum of stocks advancing less declining for either the NYSE or Nasdaq. Includes 10/20/50 day averages and shading when the line is above or below the 20 ema.
Exchange Net Highs-LowsDisplays the net new 52 week highs - 52 week lows for either the NYSE or Nasdaq. Select colors and moving average input within the settings.
Short Term IndeXThe Short-Term Index (STIX) is a simple market indicator designed to assess short-term overbought or oversold conditions in the stock market. Leveraging a combination of advancing and declining issues, STIX provides valuable insights into market sentiment and potential reversals. To enhance its interpretability and reveal the underlying trend with greater clarity, STIX has been refined through a Heiken-Ashi transformation, ensuring a smoother representation of market dynamics.
Calculation and Methodology:
stix = ta.ema(adv / (adv + dec) * 100, len)
STIX is calculated by dividing the difference between the sum of advancing issues (ADV) by the total number of issues traded (ADV + DEC). This quotient is multiplied by 100 to express the result as a percentage. The STIX index ranges from 0 to 100, where extreme values indicate potential overbought (mainly above 60) or oversold (mainly below 40) market conditions.
Heiken-Ashi Transformation:
By applying a Heiken-Ashi transformation to STIX, the indicator gains improved visual clarity and noise reduction. This transformation enhances the ability to identify trend shifts and potential reversal points, making it an even more valuable tool for traders and investors.
Utility and Use Cases:
-The Short-Term Index (STIX) offers a range of practical applications-
1. Overbought/Oversold Conditions: STIX provides a clear indication of short-term overbought or oversold conditions, helping traders anticipate potential market reversals.
2. Reversal Points: STIX can help pinpoint potential reversal points in short-term market trends, providing traders with opportunities to enter or exit positions.
3. Trend Analysis: By observing STIX values over time, traders can assess the strength and sustainability of short-term trends, aiding in trend-following strategies.
The Short-Term Index (STIX), enhanced by its Heiken-Ashi transformation, equips traders and investors with a tool for assessing short-term market conditions, confirming price movements, and identifying potential reversal points. Its robust methodology and refined presentation contribute to a more comprehensive understanding of short-term market dynamics, enabling traders to make well-informed trading decisions.
See Also:
- Other Market Breadth Indicators-
Bolton-Tremblay IndexThe Bolton-Tremblay Index (BOLTR) is a dynamic cumulative advance-decline indicator which incorporates the count of unchanged issues as a fundamental element. This index serves as a valuable tool for identifying shifts in market trends and gauging the overall strength or weakness of the market. To enhance its effectiveness and reveal underlying trends, BOLTR has been refined through a Heiken-Ashi transformation, resulting in a smoother and more insightful representation.
Calculation and Methodology:
r = (adv - dec) / unch
var float bt = na
bt := r > 0 ? nz(bt ) + math.sqrt(math.abs(r)) : nz(bt ) - math.sqrt(math.abs(r))
The BOLTR index is derived from a calculation involving three essential components: advancing issues (ADV), declining issues (DEC), and securities with unchanged closing prices (UNC). By formulating the ratio (ADV - DEC) / UNC, BOLTR captures the relationship between market movements and unchanged securities. This ratio then dictates whether the BOLTR index increases or decreases in the following period. If the ratio is positive, the index advances, and if negative, it retreats. This iterative process yields a cumulative index that reflects the evolving dynamics of market trends.
Heiken-Ashi Transformation:
The addition of a Heiken-Ashi transformation imparts a smoothing effect to the BOLTR index, revealing the underlying trend with greater clarity. This transformation diminishes noise and fluctuations, making it easier to identify meaningful shifts in market sentiment and overall market health.
Utility and Use Cases:
-The Bolton-Tremblay Index offers a range of applications that contribute to informed decision-making-
1. Trend Analysis: BOLTR provides insights into the changing trends of the market, helping traders and investors identify potential shifts in market sentiment.
2. Market Strength Assessment: By considering advancing, declining, and unchanged issues, BOLTR offers a comprehensive assessment of market strength and potential weaknesses.
3. Divergences: Traders can use BOLTR to detect divergences between price movements and the cumulative advance-decline dynamics, potentially signaling shifts in market direction.
The Bolton-Tremblay Index offers a versatile toolset for interpreting market trends, evaluating market health, and making better informed trading decisions.
See Also:
- Other Market Breadth Indicators-
MarketSmith Daily Market IndicatorsMarketSmith Daily Market Indicators is designed to mimic the Daily Market Indicators tab found in MarketSmith. This tab contains 4 different secondary indicators to help gauge the health of the overall market.
This indicator allows you to choose which of the 4 indicators to show, as well as which index to pull data from, Nasdaq or NYSE. There is also a snapshot table showing the following:
# of stock advancing and up volume
# of stocks declining and down volume
# of stock unchanged and unchanged volume
# of stocks making new highs and new lows
Now let's look at the 4 indicators and how they work.
Advance/Decline Line
Plots the number of advancing shares vs the number of declining shares. Heavily weighted index stocks can skew price action, this line helps reveal that and whether most stocks are aligned with the trend.
Short Term Overbought/Oversold Oscillator
A 10-day moving average of the number of stocks moving up in price less the number of stocks moving down in price.
10 Day Moving Average of Up & Down Volume
Two 10 day moving averages to represent the volume of all stocks. Blue line: total volume of all stocks moving up in price. Red line: the total volume of all stocks moving down in price.
10 Day Moving Average of New Highs & New Lows
Two 10-day moving average to represent stocks making new highs and new lows. Blue line: The number of stocks making new price highs. Red line: The number of stocks reaching new lows.
Note this indicator is designed to work on a daily time frame chart. Data typically updates 90 minutes after the close. Data may differ from Marketsmith due to different providers, however the general trends are the same.
Gaussian Average Rate Oscillator
Within the ALMA calculation, the Gaussian function is applied to each price data point within the specified window. The idea is to give more weight to data points that are closer to the center and reduce the weight for points that are farther away.
The strategy calculates and compares two different Rate of Change (ROC) indicators: one based on the Arnaud Legoux Moving Average (ALMA) and the other based on a smoothed Exponential Moving Average (EMA). The primary goal of this strategy is to identify potential buy and sell signals based on the relationship between these ROC indicators.
Here's how the strategy logic works
Calculating the ROC Indicators:
The script first calculates the ROC (Rate of Change) of the smoothed ALMA and the smoothed EMA. The smoothed ALMA is calculated using a specified window size and is then smoothed further with a specified smoothing period. The smoothed EMA is calculated using a specified EMA length and is also smoothed with the same smoothing period.
Comparing ROCs:
The script compares the calculated ROC values of the smoothed ALMA and smoothed EMA.
The color of the histogram bars representing the ROC of the smoothed ALMA depends on its relationship with the ROC of the smoothed EMA. Green indicates that the ROC of ALMA is higher, red indicates that it's lower, and black indicates equality.
Similarly, the color of the histogram bars representing the ROC of the smoothed EMA is determined based on its relationship with the ROC of the smoothed ALMA, they are simply inversed so that they match.
With the default color scheme, green bars indicate the Gaussian average is outperforming the EMA within the breadth and red bars mean it's underperforming. This is regardless of the rate of average price changes.
Generating Trade Signals:
Based on the comparison of the ROC values, the strategy identifies potential crossover points and trends. Buy signals could occur when the ROC of the smoothed ALMA crosses above the ROC of the smoothed EMA. Sell signals could occur when the ROC of the smoothed ALMA crosses below the ROC of the smoothed EMA.
Additional Information:
The script also plots a zero rate line at the zero level to provide a reference point for interpreting the ROC values.
In summary, the strategy attempts to capture potential buy and sell signals by analyzing the relationships between the ROC values of the smoothed ALMA and the smoothed EMA. These signals can provide insights into potential trends and momentum shifts in the price data.
