Corrected Relative Volatility Index. This indicator was originally developed by Donald Dorsey (Stocks & Commodities V.11:6 (253-256): The Relative Volatility Index).
The indicator was revised by Dorsey in 1995 (Stocks & Commodities V.13:09 (388-391): Refining the Relative Volatility Index).
I suggest the refined RVI with optional settings. If you disabled...
Relative Momentum Index indicator script. This indicator was originally developed by Roger Altman (Stocks & Commodities V. 11:2 (57-60)).
RMI with momentum period of 1 will be equal to an RSI when they have the same period and source price.
I started using this script because of its fast reaction, and good tell for buy/sell moments on a short timescale.
For larger timescales, the overall trend should be taken into account regarding the levels.
In the future i will update this indicator, to automatically adjust those.
The Relative Momentum Index was developed by Roger Altman...
Why use RSI Candles instead of a normal RSI? Because it removes screen clutter, and it also allows you to clearly see what level of overbought/oversold the candle is really at. Sometimes, it is hard to tell that a candle is overbought/oversold or very overbought/sold when it is exactly at 70 or 80. (as shown by arrows, scroll left on chart)
Original RSI Candles...
This study project is an updated version of the implementation of the "Stochastic False BAR" indicator.
The standard Stochastic buy/sell indications come from Stochastic crosses about the standard overbought/oversold zones (80/20). This does not always work and you get stuck in the OB/OS zones with a trend continuation. Utilising a second much longer...
B3 Directional Trend Index ~ All about the trend! William Blau is the designer of this gem, and IMHO it is the best trend finder of all the lagging indicators out there I have tested. It is important to pay attention to the slope and thickness of the line, and its relationship to zero. A reversion to the zero may look momentous, but in fact it could reverse...
This is an implementation of the Stochastic Momentum Index from William Blau's his article in Stocks & Commodities.
This also allows the use of various different kinds of moving averages for the signal line. Options for this argument are:
sma (simple moving average)
ema (exponential moving average)
wma (weighted moving average)
trima (triangular moving...
Stochastic Momentum Index (SMI) or Stoch MTM is used to find oversold and overbought zones. It also helps to figureout whether to enter short trade or long trade.
Red Shade in the Top indicates that the stock is oversold and the Green shade in the bottom indicates overbought.
Enter Long once the Overbought Zone ended and there's a crossover below...
Attempts to find higher highs and lower lows in the 5 minute window. When the light blue graph line peaks , you should investigate selling , when the light blue graph line dips you should investigate buying.
This is good for identifying oversold and over bought positions