New indicator, I hope you like it.
- If you want to filter more the signals you can activate in MacD Filter in the configuration.
- The use of the indicator is simple, with a simple Trader evaluation you can take good positions.
Allright gang, we are here with a new indicator that should help you with determining the direction to trade or whether you should trade at all.
It uses the close of the candle and 2 EMAs.
The faster moving line is the difference between the close and the Slow EMA, while the slower moving line shows the difference between the Fast EMA and the Slow EMA.
This indicator changes the color of the candlesticks when there’s a change in the trend to the rising or falling trend.
BEARISH ENGULFING: Yellow candlestick. It is an engulfing falling trend reversal; you must make a sell decision.
BEARISH HARAMI: White candlestick. Indicates a possible falling trend change, you must be alert for a possible sale.
This is modified version of Dale Legan's "Confluence" indicator written by Gary Fritz.
Here is Gary`s commentary:
Since the Confluence indicator returned several "states" (bull, bear, grey, and zero),
he modified the return value a bit:
-9 to -1 = Bearish
-0.9 to 0.9 = "grey" (and zero)
This indicator was originally developed by Eric Lefort, a professional trader and author from France.
It gauges and displays the bullish or bearish pressure.
Like and follow for more open source indicators!
To Survive in Bear Markets or in Horizontal Markets;
EMA Rainbow ;
EMA Rainbow is a rainbow which is formed by multiplying the moving average by certain proportions and reflecting up and down on the ema200. According to the observations, dark green areas are strong buying areas, dark red areas are strong sales regions. Trading decisions can be made according to...
Very simple and effective S/R band. Created bycombining the weekly 21EMA and weekly 20SMA, it provides strong support/resistance depending on market direction, and works as a basing area for retraces during parabolic (and normal) bull markets.
I was reading Jesse Stine's Insider Buy Superstocks book, and one of the technical traits he mentioned of a superstock (read the book, seriously, very strongly recommended) was a breakout above the 30 weekly moving average. He goes on to mention that after breakout, the 10 WMA often acts as a support line where you can add to your position. This script is inspired...
Note: This script does not perform well on its own and is meant to inspire other coders, just sharing it because why not :)
The idea is simple, highest only gets calculated for green candles, lowest only gets calculated for red candles. a yellow dot gets created when a candle gets below lowest line and closes bullish, vise versa for red dots.
Hope someone can use it.
This script was created by building my Dependent Variable Odd Generator script on the Minkovski Distance Adaptive Period.
I have tried this on MACD before.
Script related to MACD :
I used an older version that does not use Dow Factor to suit multi timeframe...
I am using T3 moving averages to generate the idea of what kind of bias I should take in a current market.
So, how does this works?
When the close is higher than T3EMA10, the trend direction is upwards,
When the close is lower than T3EMA10, the trend direction is downward.
Using this, we can assume that there is higher probability for market to continue it's...
A very basic script that changes the background color of the chart to Green if the price closes over the previous day close, and to Red if the price closes under the previous day close. This allows you to easily see if it is currently a Bull or Bear market with a glance. Alerts added.
This is a simple indicator that plots the 24 & 9 EMAs.
It also highlights the potential bias of the market (bull or bear) based on if the 9 EMA is above or below the 24 EMA.
In addition there are signal crosses that you can use for alerts.
This indicator is best used to confirm a particular underlying bias on the 5m, 15M, 1HR, 4HR, and Daily timeframes.
Black Spinning Top
White Spinning Top
Bearish Abandoned Baby
Bearish Advance Block
Bearish Below The Stomach
Bearish Belt Hold
Bearish Counter Attack Lines
Bearish Dark Cloud Cover
Bearish Deliberation Blok
Bearish Descending Hawk
Bearish Doji Star
Bearish Downside Gap Three Methods
Bearish Downside Tasuki Gap
The “Recession Watch” indicator tracks 7 key economic metrics which have historically preceded US recessions. It provides a real-time indication of incoming recession risk.
This indicator gives a picture of when risk is increasing, and therefore when you might want to start taking some money out of risky assets.
All of the last seven recessions were preceded by a...
I have never find a use case for Line Break chart before. But I stumbled on the fact that if bitcoin dumps below the low of a big down move. It is very likely Bitcoin is heading for a new bear market. So this script is based on that idea and developed to this. It is intended to be used as a bear market identifier only with Line Break daily or higher time frame...