This script was written to create a new, rapid relative strength index inspired by the Dow Theory.
More info about Dow Theory : www.investopedia.com
According to the Dow Theory, volume should confirm market trends.
The correlation coefficient between prices and volume is negative in weakening trends and negative trends , positive in strengthening or positive...
Arnaud Legoux Trend Indicator (ALTI) was designed for Identifying the primary trend, secondary trend and minor trend in a clearer way. Using the trend for continuation trade and detect potential reversals are two common ways to use it. However, combining ALTI with good volume indicators also has special results.Good luck, traders.
This indicator shows the ratio between the DJIA and the price of gold. When the ratio is below 5 it is generally accepted that a rotation from commodities to equities should be investigated. When the ratio is above 30 it is, likewise, advised to consider rotating from equities to commodities.
This is a modest improvement of the script to mark the key thresholds...