In an attempt to improve the MACD for trading, I have added an alternative way to calculate the MACD Line and Overbought/Oversold (OB/OS) lines to filter signals.
The alternate calculation I named "Modified" and put the option to select it under "MACD Calculation" in the input menu. Traditionally the MACD is calculated as fastEMA - slowEMA, for "Modified" I...
Back with another great high hit rate strategy!!
Disclaimer* This strategy was sampled using source code written by @ClassicScott , as referred to in the script, there is a clear line where the source code was scripted by myself.
This Strategy consists of three key factors, the ALMA, EMA crossover, and a Stochastic Rsi
ALMA: The Alma is the step line...
This strategy is commonly used both in forex and stock markets for reversal trading. when the rsi line reaches and crosses simultaneously at 3 rsi setups i.e at 7, 14, and 21, a signal is generated.
This strategy works best in 1-hour timeframe. It provides over 60 to 80 percent accuracy in 1-hour timeframe.
In the stock market, this strategy provides an...
Overlay mini-plots for various indicators. Shows current timeframe; and option to plot 2x higher timeframes (i.e. 15min and 60min on the 5min chart above).
The idea is to de-clutter chart when you just want real-time snippets for an indicator.
Useful for gauging overbought/oversold, across timeframes, at a glance.
~~Indicators~~
~RSI: Relative strength...
This indicator shows 5 configurable SMAs. It also shows a table with the distance of each one with respect to the last closing price. It also shows if the RSI is in the overbought or oversold zone. You can add alerts if you wish.
SMAs by Default 8, 20, 50, 100 and 200
Plots Williams Percent Range over bought/oversold indicator as a small overlay in top right corner.
De-clutter chart when all you're interested in is the real-time W%R to 'give permission' to enter a trade.
i.e. to remove the Williams %R lower pane from the above chart completely.
~~User Inputs~~
~W%R length
~Number of bars to show (default is last 6 bars)
~Plot...
"Extreme Bars" is a simple but useful indicator that marks overbought and oversold candles. This indicator paints candles that fall far above the average red, and the candles that rise above the average green. Of course, they can change these colors if they want. "Extreme Bars" can be interpreted in many different ways. The starting points of colored candles can...
This indicator consist of tow RSI length that user can customize it. like length, overbought, oversold. like length, overbought, oversold. also it has one moving average where the user can select from different types of moving averages, price sources, lookback periods and resolutions
Multi Time Frame Stochastic
Fast, medium, slow and Too slow stochastic of current time frame and higher time frame for creating view for buying or selling
How to use
1. For Divergence - price making higher high but stochastic making lower high or vice versa
2. choosing strategy - whether buy the dips or sell on rise
3. deciding whether downtrend or...
Custom Stochastic Oscillator with range plot. Can be used to better identify overbought/oversold conditions within a single bar. In addition to the default Stochastic:
%K line smoothing algorithm selection;
%D line smoothing algorithm selection;
%K line high/low plotting;
%K line high/low calculation factor (in bars, default 1).
On-balance volume (OBV) is a technical trading momentum indicator that uses volume flow to predict changes in stock price. Joseph Granville first developed the OBV metric in the 1963 book Granville's New Key to Stock Market Profits.
This indicator is based on the OBV indicator and adds 2 times the standard deviation Bollinger Band to evaluate the overbought and...
What is the script used for?
Infiten's Price Percentage Oscillator (PPOC Indicator) can be used as a contrarian indicator for volatile stocks and futures to indicate reversals, areas of support and resistance. For longer term trading, if the Short SMA or prices go above the High PPO Threshold line, it is a sign that the asset is overbought, whereas prices or the...
From TradingView's description:
Williams %R (%R) is a momentum-based oscillator used in technical analysis, primarily to identify overbought and oversold conditions. The %R is based on a comparison between the current close and the highest high for a user defined look back period. %R Oscillates between 0 and -100 (note the negative values) with readings closer to...
Hello Traders,
This indicator use the same concept as my previous indicator "CCI MTF Ob+Os".
It is a simple "Relative Strength Index" ( RSI ) indicator with multi-timeframe (MTF) overbought and oversold level.
It can detect overbought and oversold level up to 5 timeframes, which help traders spot potential reversal point more easily.
There are options to...
Hello Traders,
This is a simple Commodity Channel Index (CCI) indicator with multi-timeframe (MTF) overbought and oversold level.
It can detect overbought and oversold level up to 5 timeframes, which help traders spot potential reversal point more easily.
There are options to select 1-5 timeframes to detect overbought and oversold.
Green Background is...
This Stochastic scanner can be use to identify overbought and oversold of 10 symbols over multiple timeframes
it will give you a quick overview which pair is more overbough or more oversold and also signals tops and bottoms in the AVG row
light red/green cell = weak bearish (Stoch = 30-20) / bullish (Stoch = 70-80)
medium red/green cell = bearish (Stoch =...
I believe that everyone should monitor the basic indicators; EMA/SMA cross, BB and RSI on at least TWO timeframes before making any trading decisions. And because that is only possible on paid subscriptions, I created this indicator for people just getting started.
It allows you to plot all of the mentioned AND 2 weeklies of your choice on 1 chart INCLUDING a...
The relative strength index (RSI) is a momentum indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions. The RSI is normally displayed as an oscillator separately from price and can have a reading from 0 to 100. This indicator displays the current RSI levels at up to 6 timeframes (of your choosing) in a grid. If...
![QQQ: OBV Overbuy+sell Oscillator[RSU]](https://s3.tradingview.com/8/84ZKmX4S_mid.png "OBV Overbuy+sell Oscillator[RSU]")
