LuxAlgo

Normalized Oscillators Spider Chart [LUX]

This indicator displays a spider chart overlaid on the user’s current chart allowing the visualization of information given by various normalized oscillators. It is possible to customize the spider chart by hiding certain oscillators from within the settings which removes their corresponding spokes from the chart.

Users can control the length settings of each oscillator individually or use a global length setting that applies to every oscillator. An additional meter element is displayed and aims to give the overall sentiment returned by the oscillators. This can also be used to gauge whether the market is trending or ranging.

This is a relatively simple application of a spider chart but can prove to be useful to some users.

1. Settings

  • RSI: Displays the Relative Strength Index spoke on the spider chart, includes the length setting on the right of the toggle.
  • %K: Displays the Stochastic Oscillator "%K" spoke on the spider chart, includes the length setting on the right of the toggle.
  • COR: Displays the Correlation Oscillator spoke on the spider chart, includes the length setting on the right of the toggle.
  • MFI: Displays the Money Flow Index oscillator spoke on the spider chart, includes the length setting on the right of the toggle.
  • WPR: Displays the Williams Percent Rank oscillator spoke on the spider chart, includes the length setting on the right of the toggle.
  • %UP: Displays the percentage of upward variations spoke on the spider chart, includes the length setting on the right of the toggle.
  • CMO: Displays the Chande Momentum Oscillator spoke on the spider chart, includes the length setting on the right of the toggle.
  • AOS: Displays the Aroon oscillator spoke on the spider chart, includes the length setting on the right of the toggle.
  • Global Oscillators Length: Determines whether all oscillators should use the same length settings, determined by the setting on the right of the toggle.

1.1 Style Settings

  • Spider Chart Length: Determines the horizontal width of the spider chart.
  • Spider Chart Offset: Offset between the most recent bar and the left extremity of the spider chart.

2. Usage

A spider chart can be a very useful visualization tool when it comes to seeing the individual characteristics of various variables at the same time.

Here, the tool can give a general sentiment on the direction of the trend without adding each indicator to your chart. It is also possible to determine when an oscillator is considered overbought or oversold with this indicator.


The dashed line represents the central value for each oscillator.

Disabling any of the oscillators from the settings will return a spider chart using fewer spokes.


The script also displays a meter that can be used to determine the overall sentiment given by all oscillators. This metric is based on the average value between each oscillator. An overall sentiment closer to 50 would indicate a ranging market.
Open-source Skript

Ganz im Sinne von TradingView hat der Autor dieses Skripts es als Open-Source veröffentlicht, damit Trader es verstehen und überprüfen können. Ein Hoch auf den Autor! Sie können es kostenlos verwenden, aber die Wiederverwendung dieses Codes in einer Publikation unterliegt den Hausregeln. Sie können das Skript den Favoriten hinzufügen, um es auf dem Chart zu verwenden.

Möchten Sie dieses Skript auf einem Chart verwenden?

Kommentare

500 Coins
+6 Antworten
500 Coins
+5 Antworten
LuxAlgo LonesomeTheBlue
@LonesomeTheBlue, Love your work :) Cheers & thanks!
+1 Antworten
longdt LuxAlgo
@LuxAlgo, How to create an alert when the label "◄" crosses 50?
Thanks pro
+8 Antworten
Good job!
500 Coins
+1 Antworten
LuxAlgo HPotter
@HPotter, <3 thanks!
Antworten
How to create an alert when the label "◄" crosses 50?
Thanks pro
+5 Antworten
OMFG !
+4 Antworten
This publication is now featured in our Editors' Picks: https://www.tradingview.com/scripts/editors-picks/ .
In the name of all TradingViewers, thank you for your valuable contribution to the community, and congrats!
+3 Antworten
Great job! Really appreciate the open sharing. I read the documentation for the Lux premium indicators and was blown away. If I ever subscribe to an indicator it will probably be Lux. :)
+3 Antworten