OBV takes difference between old close and new close and multiplies by volume without considering high and low.
This assigns the entire volume into a single direction even tho movement could've been in both.
Accum/dist takes difference between close and high and low without considering previous close or open. This causes huge deviation from OBV when you have...
McClellan Summation Index is a breadth indicator derived from McClellan Oscillator ().
The Summation Index is simply a running total of the McClellan Oscillator values. Even though it is called a Summation Index, the indicator is really an oscillator that fluctuates above/below zero. As such, signals can be derived from...
This script shows the Advance Decline Line of the NYSE (dark blue)in comparison to the SPX (light blue). There is also a difference line of the two series (red).
Both are indexed to current values to allow a better overview. Series can be smoothed via the length of the Moving Average.
I consider it more of a work in progress. I work on a more inuitive kind of presentation.
The McClellan Oscillator is a market breadth indicator developed by Sherman and Marian McClellan.
It is calculated from Net Advances, which is the number of advancing issues minus the number of declining issues. Subtracting the 39-day exponential moving average of Net Advances from the 19-day exponential moving average of Net Advances forms the oscillator.
This is the simplified and optimized version of my original ADV indicator. It shows both regular volume bars and the accumulated/distributed (A/D) portion of them. The equation is elegant and intuitive. It calculates candle body to candle height ratio and multiplies it by volume: volume*(close-open)/(high-low). This is the building block of my three other...
A simple mash-up of the On Balance Volume (OBV) indicator with the Fisher Transform indicator (blue) with the classic Fisher Transform signal trigger (silver color), plus a linear regression as a second signal line (red).
I recommend to use a period for the linear regression which has the same speed or is slower than the period of the Fisher Transform to avoid...
July 18 2019 - LCS - line channels (basic) by RootDuk
Version : v3 - read the notes
Easy script to draw channels based on ie. GANN using the following
- ibback : barsback to search for high and low
Volume Ticks is a zero-lag market sentiment indicator. It works by providing a cumulative count of increasing volume columns.
A one count is added for each increasing volume column where close>open, and one is subtracted on an increasing volume column if close<open. That’s it. The count does not change when volume hasn’t increased compared to the previous bar’s...
This gives you the ability to track multiple tickers correlation aspects compared to the ticker you are currently viewing.
You can plot the background color and also shapes above the candles.
I personally only see the use of negative correlation to be of much use as most moves that have a heavy negative correlation with other largecaps are likely to get faded by...
Dear all, you might wonder is there a confirmation indicator that has a high hit rate, is dependable, and could rely on the information it gives you when making a decision?
Here I present an indicator I developed specifically for cryptocurrency, in the minds of eliminating fakeouts and traps.
Trend is always invalid then there is a lack of volume, so by...
On Balance Volume (OBV) Oscillator with Bollinger Bands (BB).
Inspired by @LazyBear OBV Oscillator (link below)
Added BB to the oscillator and colored the OBV line yellow when it's outside the bands' limits, useful for finding over-extended zones where price reversals have higher probability of happening.
BB bands can be deactivated and the oscillator can be...
The Arms index (TRIN) is a technical analysis indicator that compares advancing
and declining stock issues and trading volume as an indicator of overall market
sentiment. It measures the relationship between market supply and demand and is
used as a predictor of future price movements in the market, primarily on an
intraday basis. The Arms index seeks to...