FX Currency Strength IndicatorFX Currency strength indicator is a visual guide that demonstrates which currencies are currently strong, and which ones are weak.
FX Currency strength indicators include multiple calculation to choose from
1. Relative Strength Index (RSI)
2. True Strength Index (TSI)
3. Absolute Strength Index (ASI)
4. Linear Regression Slope (LRS)
5. Rate of Change (ROC)
6. Z-Score
Three display modes
1. Lines
2. Columns
3. Areas
Comparação de Força Relativa
Function Highest/Lowest by PeterONo matter how much I like PineScript, there are still things missing in the language. One of the most annoying issues is that you cannot set dynamic length value for highest/lowest functions. This length must be fixed integer. But it doesn't make sense in a lot of cases, when you'd like to know what was the highest/lowest value of a series SINCE EVENT in the past, but you don't know WHEN this event exactly happened.
Us, coders would like to do this: `highest(series,barssince(...))`
But it is not working.
Numerous coders are using RicardoSantos' f_highest/f_lowest script (), probably the most often copy/pasted snippet of PineScript code out there. It is doing more-less what `highest(series,barssince(...))` would be doing, but with hardcoded max bars back.
Ricardo is my idol by the way, but that didn't stop me from creating my own version of Highest/Lowest functions. They are fast, simple, effective and very light for Pine engine.
Please treat this as an OPEN SOURCE snippet of code, which can be used in variety of ways.
I have implemented a simple use-case myself, to demonstrate what can be done. The example shows what was the highest/lowest value of RSI since the previous cross of Stochastic. So that you don't enter SHORT on Stochastic crossunder, if RSI didn't reach oversold (<30) since the previous Stochastic crossunder = aka maybe the downtrend has exhausted.
I'm sure you'll find plenty of use cases for it in your studies and strategies as well. If you create your own code using my Highest/Lowest functions, don't hesitate to put a link down here in comments.
P.S. This is not a strategy in any way, so don't ask me "does it backtest well?".
P.S.2 This code doesn't repaint as well ;)
Relative Strength(RSMK) + Perks - Markos KatsanosIf you are desperately looking for a novel RSI, this isn't that. This is another lesser known novel species of indicator. Hot off the press, in multiple stunning color schemes, I present my version of "Relative Strength (RSMK)" employing PSv4.0, originally formulated by Markos Katsanos for TASC - March 2020 Traders Tips. This indicator is used to compare performance of an asset to a market index of your choosing. I included the S&P 500 index along side the Dow Jones and the NASDAQ indices selectively by an input() in "Settings". You may comparatively analyze other global market indices by adapting the code, if you are skilled enough in Pine to do so.
With this contribution to the Tradingview community, also included is MY twin algorithmic formulation of "Comparative Relative Strength" as a supplementary companion indicator. They are eerily similar, so I decided to include it. You may easily disable my algorithm within the indicator "Settings". I do hope you may find both of them useful. Configurations are displayed above in multiple scenarios that should be suitable for most traders.
As always, I have included advanced Pine programming techniques that conform to proper "Pine Etiquette". For those of you who are newcomers to Pine Script, this script may also help you understand advanced programming techniques in Pine and how they may be utilized in a most effective manner. Utilizing the "Power of Pine", I included the maximum amount of features I could surmise in an ultra small yet powerful package, being less than a 60 line implementation at initial release.
Unfortunately, there are so many Pine mastery techniques included, I don't have time to write about all of them. I will have to let you discover them for yourself, excluding the following Pine "Tricks and Tips" described next. Of notable mention with this release, I have "overwritten" the Pine built-in function ema(). You may overwrite other built-in functions too. If you weren't aware of this Pine capability, you now know! Just heed caution when doing so to ensure your replacement algorithms are 100% sound. My ema() will also accept a floating point number for the period having ultimate adjustability. Yep, you heard all of that properly. Pine is becoming more impressive than `impressive` was originally thought of...
Features List Includes:
Dark Background - Easily disabled in indicator Settings->Style for "Light" charts or with Pine commenting
AND much, much more... You have the source!
The comments section below is solely just for commenting and other remarks, ideas, compliments, etc... regarding only this indicator, not others. When available time provides itself, I will consider your inquiries, thoughts, and concepts presented below in the comments section, should you have any questions or comments regarding this indicator. When my indicators achieve more prevalent use by TV members, I may implement more ideas when they present themselves as worthy additions. As always, "Like" it if you simply just like it with a proper thumbs up, and also return to my scripts list occasionally for additional postings. Have a profitable future everyone!
CPR WidthThe indicator shows the width of the Central Pivot Range. Frank Ochoa call it It Pivot Range Histogram in his book.
Use it in conjunction with the Central Pivot Range indicator.
Below is the interpretation of the reading.
CPR Width > 0.5 - Sideways or Trading Range Day,
CPR Width > 0.75 - increases the likelihood of sideways trading behavior,
CPR Width < 0.5 - Trending type of day,
CPR Width < 0.25 - increases the likelihood of a trending market.
The above reading only increases the likely-hood of the possibility and not always right.
Crypto Performance vs IndexQuickly shows you if an altcoin is outperforming or underperforming it's peers. You can compare again indexes of high cap, mid cap and low cap indexes, which are provided by FTX.com. I intend to add some more features but am currently a bit busy so wanted to get it published as I've been finding it useful
MavXtrenderConverted the B-Xtrender script from Puppytherapy into a strategy script.
B-Xtrender was created by Bharat Jhunjhunwal and published in this IFTA Journal .
I've added the following features:
Ability to use factors instead of individual values for each parameter. This will allow you to quickly check different averages (5 vs 7 for example).
Defaults adjusted for crypto trading (7 days/week).
Switches to use either the short or long term indicator, or both.
Time window
Relative Strength RankRelative Strength Rank Indicator
( ( Long Term Price Change + Short Term Price Change ) / 2 ) / 10 Day ATR
Relative Strength Comparison (RSC) Indicator SignalsThis Relative Strength Comparison (RSC) indicator overlays a simple moving average (SMA) of the prior days values and changes color when the RSC crosses above and below that value as an indicator with bearish and bullish signals in comparison to another symbol.
Multiple BTC RSIs in a single indicatorPlots in a single indicator the Bitcoin RSI of multiple exchanges. The selected exchanges are Bitmex, Binance and Coinbase. The reason is that these are the ones with the highest 24h volume (coinmarketcap) and have a ticker available in Trading View.
One drawback with this indicator is that it doesn't automatically adjusts its resolution when the Bitcoin chart is rendered across timeframes. You have to manually update the time resolution in the settings window for the indicator.
NZD RSCNZD Relative Strength Comparison to the basket of other major currencies.
nzd = (nzdusd + nzdjpy/100 + nzdcad + 1/gbpnzd + 1/eurnzd + nzdchf + 1/audnzd)/7
EUR RSCEUR Relative Strength Comparison to the basket of other major currencies.
eur = (eurusd + eurgbp + eurjpy/100 + eurcad + eurchf + euraud + eurnzd)/7
AUD RSCAUD Relative Strength Comparison to the basket of other major currencies.
aud = (audusd + audjpy/100 + audcad + audchf + 1/euraud + 1/gbpaud + audnzd)/7
CHF RSCCHF Relative Strength Comparison to the basket of other major currencies.
chf = (1/usdchf + chfjpy/100 + 1/cadchf + 1/gbpchf + 1/eurchf + 1/audchf + 1/nzdchf)/7
CAD RSCCAD Relative Strength Comparison to the basket of other major currencies.
cad = (1/usdcad + cadjpy/100 + cadchf + 1/eurcad + 1/gbpcad + 1/audcad + 1/nzdcad)/7
JPY RSCJPY Relative Strength Comparison to the basket of other major currencies.
jpy = (1/usdjpy + 1/cadjpy + 1/chfjpy + 1/eurjpy + 1/gbpjpy + 1/audjpy + 1/nzdjpy)/0.07
GBP RSCGBP Relative Strength Comparison to the basket of other major currencies.
gbp = (gbpusd + gbpjpy/100 + gbpcad + 1/eurgbp + gbpchf + gbpaud + gbpnzd)/7
USD Relative Strength Comparison (RSC)Simple indicator implementing relative strength against the equally weighted basket of major currencies. Perhaps I will coin it the Equally Weighted Index (EWI) and trademark it like ICE did with DXY.
usd = (usdjpy/100 + usdcad + 1/gbpusd + 1/eurusd + usdchf + 1/audusd + 1/nzdusd)/7
DXY is hard to compare against other indices because of it's weightening. Secondly it does not compare against all majors and includes SEK which is not a major currency. Source: Wikipedia .
In this chart it becomes more clear why GU is in an uptrend. From April 25th USD has been consolidating against the basket of majors while GBP has gained in strength against the same basket.
gbp = (gbpusd + gbpjpy/100 + gbpcad + 1/eurgbp + gbpchf + gbpaud + gbpnzd)/7
Currency Strength, displays lines for currency pair onlyThis currency strength indicator displays the strength for the displayed currency pair only.
The following currencies are supported: AUD, CAD, CHF, EUR, GBP, JPY, NZD, USD
Base currency is indicated by a blue line. Counter currency by a green line.
Double click on a line to open the settings window to change line colors or the possition of the dashed lines.
Relative Price StrengthThe strength of a stock relative to the S&P 500 is key part of most traders decision making process. Hence the default reference security is SPY, the most commonly trades S&P 500 ETF.
Most profitable traders buy stocks that are showing persistence intermediate strength verses the S&P as this has been shown to work. Hence the default period is 63 days or 3 months.
Simple Currency Strength Measurer IVVersion IV of the SCSM, this time thanks to @SAACI I learned more about the financial markets and some math stuff. This time I switched the formula a bit to use Zscores:
(close-sma(close,shortma))/stdev(close,dev)
This creates a nice oscillator like view, if you overlay TWO of them, one longer and one shorter you can get almost perfect absolute highs and absolute lows. Enjoy.
Mansfield Relative Strength indicatorUse this indicator to compare how security is performing in compare with preferred index (SPX by default).
> 0 outperforming
< 0 underperforming
Works best for weekly, but can be applied to monthly and daily charts. It will be rather useless to use it in smaller timeframes
Apply it to SPX, industry index, sector index or other security in similar sector
