HammondB3

B3 ALMA Pendulum

B3 Pendulums, quick little indicators that do change print inside the current bar, so beware. It is good for anticipation, but it is important to make sure the current and next bars follow through.

Ever wanted an indicator that really points out the micro term action in the form of a pendulum swing? This my attempt to show the market ups and downs in the smallest amount of lag possible. This indicator is designed to bounce back and forth from 100 to -100 as it shows you the price's relationship to ALMA . Really its just a simple deviance from mean study made to amplify the quick ups and downs, and kind of the neatest on Heikin Ashi setups. It looks like Arabic language at first glance, lol.

This should be easy to template out to your own MA's. ~I hope you are enjoying the B3 scripts, that is now 9 open source shares and a couple protected ones. I still plan on a few more give-a-ways, as I prepare some of the algorithmic things I do for subscription. Feel free to comment about things you would like to see! ~B3
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?
http://www.virtuosotrader.com ~ Personal Blog (no ads)

Kommentare

Another great addition to the library. Thanks. Look forward to seeing what you have in store for subscription. Meanwhile, can you share more of your support & resistance indicators? Will be great to compliment the oscillators you posted.
Antworten
HammondB3 JerHong
Sure thing, really appreciate the feedback!
+1 Antworten
HammondB3 JerHong
+2 Antworten
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