Relative slopeRelative slope metric
Description:
I was in need to create a simple, naive and elegant metric that was able to tell how strong is the trend in a given rolling window. While abstaining from using more complicated and arguably more precise approaches, I’ve decided to use Linearly Weighted Linear Regression slope for this goal. Outright values are useful, but the problem was that I wasn’t able to use it in comparative analysis, i.e between different assets & different resolutions & different window sizes, because obviously the outputs are scale-variant.
Here is the asset-agnostic, resolution-agnostic and window size agnostic version of the metric.
I made it asset agnostic & resolution agnostic by including spread information to the formula. In our case it's weighted stdev over differenced data (otherwise we contaminate the spread with the trend info). And I made it window size agnostic by adding a non-linear relation of length to the output, so finally it will be aprox in (-1, 1) interval, by taking square root of length, nothing fancy. All these / 2 and * 2 in unexpected places all around the formula help us to return the data to it’s natural scale while keeping the transformations in place.
Peace TV
Strength
Screener for 40+ instrumentsAs you probably know in TradingView there is a limit of 40 instruments in one custom screener.
I created a script that will allow you to scan more symbols.
The idea of it is pretty simple. You have to add a screener a few times on your screen with a different set of symbols. Then select column width (as % of your chart width) and # of the screener right to left.
Script will plot #1 screener next to the right border. For #2 and all next tables, the script will compute the needed offset and will draw it on the left. This way it will look like one table and not a few separate indicators.
I created a script with an RSI screener, but you can create more complicated examples with it.
Off course, that's not a silver bullet solution but might work for some of you.
Disclaimer
Please remember that past performance may not be indicative of future results.
Due to various factors, including changing market conditions, the strategy may no longer perform as well as in historical backtesting.
This post and the script don’t provide any financial advice.
StrengthA mathematically elegant, native & modern way how to measure velocity/ strength/ momentum. As you can see it looks like MACD, but !suddenly! has N times shorter code (disregard the functions), and only 1 parameter instead of 3. OMG HOW DID HE DO IT?!?
MACD: "Let's take one filter (1 parameter), than another filter (2 parameters), then let's take dem difference, then let's place another filter over the difference (3rd parameter + introduction of a nested calculation), and let's write a whole book about it, make thousands of multi-hours YouTube videos about it, and let's never mention about the amount of uncertainty being introduced by multiple parameters & introduction of the nested calculation."
Strength: "let's get real, let's drop a weighted linear regression & usual linear regression over the data of the same length, take dem slopes, then make the difference over these slopes, all good. And then share it with people w/o putting an ® sign".
Fyi, regressions were introduced centuries ago, maybe decades idk, the point is long time ago, and computational power enough to calculate what I'm saying is slightly more than required for macd.
Rationale.
Linearly weighted linear regression has steeper slope (W) than the usual linear regression slope (S) due to the fact that the recent datapoints got more weight. This alone is enough of a metric to measure velocity. But still I've recalled macd and decided to make smth like it cuz I knew it'll might make you happy. I realized that S can be used instead of smoothing the W, thus eliminating the nested calculation and keeping entropy & info loss in place. And see, what we get is natural, simple, makes sense and brings flex. I also wanna remind you that by applying regression we maximize the info gain by using all the data in the window, instead of taking difference between the first and the last datapoints.
This script is dedicated to my friend Fabien. Man, you were the light in the darkness in that company. You'll get your alien green Lambo if you'll really want it, no doubts on my side bout that.
Good hunting
Multi-Timeframe RSI GridThe 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 the RSI levels reach overbought (above 70) or oversold (below 30) conditions, it changes the color to help you see that RSI has reached extreme levels. Note that in TradingView, when the chart is on a higher timeframe, the lower timeframe RSI levels don't calculate properly. If those conditions are met, this indicator will hide those values in the grid. If none of your selected values are available, it hides the table completely. There are configuration options, like:
Position the grid in any corner of the screen
Style customization (color, size)
Customize RSI length
Signals Pirate™ Trend MeterSignalsPirate™ Trend Meter gives a complete and all in one insight into the current price action trend and its underlying strength for any asset on any timeframe!
This tool utilise a multitude of tried and tested technical indicators to dynamically and accurately determine the current trend strength of a given asset. Depending on the level of trend strength, this indicator will collate all data to print 5 ‘Points’ with either a green or red colour. This point based system allows for simple and easy understanding of the current direction of price.
The ‘Points’ are each calculated independently to ensure versatile and dependable results. The calculation of each point being bullish or bearish is down to what criteria price action is currently fulfilling. If any of the criteria is in a ‘neutral’ zone and neither bullish (green) or bearish (red), the point will remain its previous colour until a trend change occurs. How the points are calculated:
- If price is above key moving averages on multiple time frames, 1 point is created green. If price is below key moving averages, the point will be red.
- If SOME key moving averages are currently in order to the upside (for example, 9ma is above the 21ma, which is below the 50ma etc), a green point is created – vice versa for a red point.
- If ALL key moving averages are currently in order to the upside (for example, 9ma is above the 21ma, which is above the 50ma etc), a green point is created – vice versa for a red point.
- If key momentum/strength indicators (RSI & Stoch) are bullish, a green point is created – vice versa for a red point.
- If price is above key levels of S/R (calculated through price action levels and pivot points), a green point is created – vice versa for a red point.
You can then set the amount of points needed for a signal to be generated, by default this is set to 5 so all trend identification criteria need to be bullish or bearish for a signal., but this could be set to 4 for example for faster signals. You can also decide whether to be alerted every time the conditions are met, or just when the bias flips entirely from bullish to bearish (green to red) and vice versa.
The default settings are the best settings we’ve found so far but you can change them to build your own unique trading strategy. We’d recommend experimenting with these values to find the best results for the asset you are trading, and your own personal trading style.
Direction for use:
1. Use on any asset class and time frame.
2. Adjust the ‘Trend Strength for Signal’ value.
3. Enter Long on Green ‘Bullish’ signal after candle close, enter Short on Red ‘Bearish’ signal after candle close.
4. Exit position on opposite entry signal, for example if you’re currently in a Long position and a Red ‘Bearish’ signal is printed, close your Long position at the candle close, even if you do not plan on shorting and vice versa.
As mentioned previously, this is a trend identification system that dynamically operates to function with superior accuracy regardless of what you’re trading. But with the level of customisation available, this can easily be fine tuned to accommodate scalping, reversal trading, or even long term investing.
We hope you love this package, and it takes your trading and investing to the next level. Please let us know if you have any questions or queries regarding the logic behind the bundle, or if you have any suggestions for improvements etc. We love your feedback and are constantly striving to continuously improve!
GoldenCO Aie2 Use of GoldenCO Aie2
This market price movement trend analysis uses exponential moving average which is ema5/20/50. The purpose of using this EMA is to find out the effect of price changes that occur and the current trend of the market whether bullish or bearish.
It is suitable for short-term or long-term trading.
for short term trading, the trader uses ema5-ema20 and for long term trading the trader can use ema5-ema50 as analysis.
This indicator serves as a guide to traders in trading activities.
we hope that, by recognizing and knowing the trend of this price movement it can help traders in trading activities well and can reduce risk. May it benefit the trader.
DISCLAIMER : This is not Buy/Sell call, just sharing idea analysis for education. Trade at your own risk.
Signals Pirate™ Currency Strength IndicatorSignalsPirate™ Currency Strength package was created to take your Forex trading to the next level. With a simple yet intuitive display of the underlying strength of all major currencies it’s a great tool to add to your arsenal, or even as your sole trading strategy component!
The only input required to fine tune the underlying logic is the ‘Length’ variable, this can be adjusted to alter the look back period for strength determination. This metric is calculated using a combination of strength indicators such as the RSI, Stochastic, ADX and more applied to the underlying currency index, such as the DXY for the USD. When the Currency Strength value increasing for any given currency, it’s a great indication that there is great underlying strength as the currency becomes more valuable in comparison to other currencies; and vice versa as the value decreases.
The default settings are the best settings we’ve found so far but you can change them to build your own unique trading strategy. We’d recommend experimenting with values to find the best results for the asset you are trading, and your own personal trading and investing style.
Direction for use:
1. Use on any asset (preferably Forex) and time frame.
2. Fine tune the Length input and customise the visuals.
3. Watch for divergences between strong and weak currencies as the strength value increases/decreases.
4. Consider longing currencies that are showing overwhelming strength vs currencies that are showing weakness, and do the opposite for short trades. For example, if the USD is massively increasing in strength and the EUR is decreasing, shorting EURUSD may be a trade to watch.
5. Be aware of the strength values changing, closing trades as the divergences decrease is sensible.
As mentioned previously, this is a strength system that dynamically operates to function with superior accuracy regardless of what currency you’re trading. But with the level of customisation available, this can easily be fine tuned to accommodate scalping, reversal trading, or even long term investing.
We hope you love this Forex and Currency Strength tool, and it takes your trading and investing to the next level. Please let us know if you have any questions or queries, or if you have any suggestions for improvements etc. We love your feedback and are constantly striving to continuously improve!
Relative StrengthRelative strength is a calculation of the price trend of a stock or a financial instrument in comparison to another instrument, stock, or industry. It shall be determined by taking the price of one commodity and dividing it by another.
Relative strength is a strategy used for determining value stocks and is used in momentum investing as well. It involves investing in stocks that have done well, in relation to their index or benchmark. For example, a relative strength investor might pick technology companies that have outperformed the Nasdaq Composite Index or large-cap stocks that are lagging against the S&P 500 index(Adjustable in the settings).
This indiator will give you a plot for relative strength between the current pair with another pair (adjustable in the settings), with a plotshape for RSNHBP & RSNH
Features :
1. Relative Strength
2. Double EMA of Relative Strength
3. RSNHBP & RSNH
How to use it :
1. Adjust All the settings parameter
2. For Alerting, Just use any alert function call, it will give you an alert of RSNHBP and RSNH
TL Data PanelIntroducing the TraderLion Data Panel
Features
1. Plot Quarterly EPS & Sales in a table. Disclaimer | TradingView data for EPS & Sales can be highly inaccurate in some cases.
2. U/D Ratio - Calculates the Up/Down Volume Ratio on a 50 Day Average or 20 Day Average. A number above 1.5 will show in green.
3. DCR - Calculates the Daily Closing Range for the stock. It's green when the DCR is greater than your benchmark (set in indicator settings) and greater than 50%.
4. WCR - Calculates the Weekly Closing Range for the stock. It's green when the DCR is greater than your benchmark (set in indicator settings) and greater than 50%.
5. Extended - Calculates if the stock is extended vs the 10DMA and 10WMA. The output will be Yes or No.
6. RSNHBP Count - Counts the number of RSNHBP in the past 30 sessions. Higher the count the better the odds of a stock performing well in the markets.
7. HV Stats - This shows if a stock meets the HVE/HV1/HVIPO criteria. HVE - Highest Volume Ever. HV1 - Highest Volume in One Year. HVIPO - Highest Volume Since IPO.
Customizations
Up Down Volume Length - Toggle between 50 Day or 20 Day.
Average $ Volume Length - Toggle between 50 Day or 20 Day.
Closing Range Benchmark - Set your benchmark vs any index.
RS Benchmark - Calculate RSNHBP benchmark vs any index.
Table Size - Tweak table size on personal preference.
Table Position - Tweak table position to top right, bottom left, bottom right, or top left.
Margins vs ROE - Toggle this setting to display Margins or ROE.
Color Theme - Toggle between Light or Dark Theme.
If you have any questions, please post them in the comments below!
Relative Strength Screener V2 - Top 100 volume leadersNew and improved strength heatmap for the top 100 volume leaders in the S&P. Coded in a workaround to the 40 request.security limitation that currently exists in Pine. Added the ability to input the number of columns (time frames) you wish to display.
For 3 time frame analysis, add the indicator to your chart 3 times. Change the number of columns to 3 for each of these indicators. Specify the column and time frame for each one (example, 5 minute for column 1, 1 hour for column 2 and Daily chart for column 3). It will automatically resize the columns/tables to properly display the output. This provides a sort of "Strength Heatmap" for the top 100 stocks in the S&P. To achieve this, make a copy of the indicator and substitute lines 68-105 with the following premade watchlists :
Make a copy 1 - FIrst 38 volume leaders in the S&P
s01 = input.symbol('AAPL', group = 'Symbols', inline = 's01')
s02 = input.symbol('ABBV', group = 'Symbols', inline = 's02')
s03 = input.symbol('ABT', group = 'Symbols', inline = 's03')
s04 = input.symbol('ACN', group = 'Symbols', inline = 's04')
s05 = input.symbol('AEP', group = 'Symbols', inline = 's05')
s06 = input.symbol('AIG', group = 'Symbols', inline = 's06')
s07 = input.symbol('AMAT', group = 'Symbols', inline = 's07')
s08 = input.symbol('AMD', group = 'Symbols', inline = 's08')
s09 = input.symbol('APA', group = 'Symbols', inline = 's09')
s10 = input.symbol('ATVI', group = 'Symbols', inline = 's10')
s11 = input.symbol('AXP', group = 'Symbols', inline = 's11')
s12 = input.symbol('BA', group = 'Symbols', inline = 's12')
s13 = input.symbol('BBWI', group = 'Symbols', inline = 's13')
s14 = input.symbol('BBY', group = 'Symbols', inline = 's14')
s15 = input.symbol('BK', group = 'Symbols', inline = 's15')
s16 = input.symbol('BMY', group = 'Symbols', inline = 's16')
s17 = input.symbol('BRK.B', group = 'Symbols', inline = 's17')
s18 = input.symbol('C', group = 'Symbols', inline = 's18')
s19 = input.symbol('CAT', group = 'Symbols', inline = 's19')
s20 = input.symbol('CCL', group = 'Symbols', inline = 's20')
s21 = input.symbol('CFG', group = 'Symbols', inline = 's21')
s22 = input.symbol('CL', group = 'Symbols', inline = 's22')
s23 = input.symbol('CNC', group = 'Symbols', inline = 's23')
s24 = input.symbol('COF', group = 'Symbols', inline = 's24')
s25 = input.symbol('COP', group = 'Symbols', inline = 's25')
s26 = input.symbol('COST', group = 'Symbols', inline = 's26')
s27 = input.symbol('CRM', group = 'Symbols', inline = 's27')
s28 = input.symbol('CVS', group = 'Symbols', inline = 's28')
s29 = input.symbol('CVX', group = 'Symbols', inline = 's29')
s30 = input.symbol('DAL', group = 'Symbols', inline = 's30')
s31 = input.symbol('DIS', group = 'Symbols', inline = 's31')
s32 = input.symbol('DISCA', group = 'Symbols', inline = 's32')
s33 = input.symbol('DISCK', group = 'Symbols', inline = 's33')
s34 = input.symbol('DISH', group = 'Symbols', inline = 's34')
s35 = input.symbol('DLTR', group = 'Symbols', inline = 's35')
s36 = input.symbol('DOW', group = 'Symbols', inline = 's36')
s37 = input.symbol('DVN', group = 'Symbols', inline = 's37')
s38 = input.symbol('EBAY', group = 'Symbols', inline = 's38')
Make a copy 2 - Tickers 39 to 76
s01 = input.symbol('EOG', group = 'Symbols', inline = 's01')
s02 = input.symbol('F', group = 'Symbols', inline = 's02')
s03 = input.symbol('FB', group = 'Symbols', inline = 's03')
s04 = input.symbol('FCX', group = 'Symbols', inline = 's04')
s05 = input.symbol('FIS', group = 'Symbols', inline = 's05')
s06 = input.symbol('GE', group = 'Symbols', inline = 's06')
s07 = input.symbol('GIS', group = 'Symbols', inline = 's07')
s08 = input.symbol('GM', group = 'Symbols', inline = 's08')
s09 = input.symbol('GS', group = 'Symbols', inline = 's09')
s10 = input.symbol('HD', group = 'Symbols', inline = 's10')
s11 = input.symbol('IBM', group = 'Symbols', inline = 's11')
s12 = input.symbol('INTC', group = 'Symbols', inline = 's12')
s13 = input.symbol('JNJ', group = 'Symbols', inline = 's13')
s14 = input.symbol('JPM', group = 'Symbols', inline = 's14')
s15 = input.symbol('KR', group = 'Symbols', inline = 's15')
s16 = input.symbol('LUV', group = 'Symbols', inline = 's16')
s17 = input.symbol('LVS', group = 'Symbols', inline = 's17')
s18 = input.symbol('MA', group = 'Symbols', inline = 's18')
s19 = input.symbol('MCD', group = 'Symbols', inline = 's19')
s20 = input.symbol('MCHP', group = 'Symbols', inline = 's20')
s21 = input.symbol('MDT', group = 'Symbols', inline = 's21')
s22 = input.symbol('MET', group = 'Symbols', inline = 's22')
s23 = input.symbol('MGM', group = 'Symbols', inline = 's23')
s24 = input.symbol('MOS', group = 'Symbols', inline = 's24')
s25 = input.symbol('MPC', group = 'Symbols', inline = 's25')
s26 = input.symbol('MRK', group = 'Symbols', inline = 's26')
s27 = input.symbol('MRNA', group = 'Symbols', inline = 's27')
s28 = input.symbol('MS', group = 'Symbols', inline = 's28')
s29 = input.symbol('MSFT', group = 'Symbols', inline = 's29')
s30 = input.symbol('MU', group = 'Symbols', inline = 's30')
s31 = input.symbol('NCLH', group = 'Symbols', inline = 's31')
s32 = input.symbol('NEE', group = 'Symbols', inline = 's32')
s33 = input.symbol('NEM', group = 'Symbols', inline = 's33')
s34 = input.symbol('NFLX', group = 'Symbols', inline = 's34')
s35 = input.symbol('NKE', group = 'Symbols', inline = 's35')
s36 = input.symbol('NVDA', group = 'Symbols', inline = 's36')
s37 = input.symbol('ORCL', group = 'Symbols', inline = 's37')
s38 = input.symbol('OXY', group = 'Symbols', inline = 's38')
Make a copy 3 - tickers 77 to 114
s01 = input.symbol('PENN', group = 'Symbols', inline = 's01')
s02 = input.symbol('PEP', group = 'Symbols', inline = 's02')
s03 = input.symbol('PFE', group = 'Symbols', inline = 's03')
s04 = input.symbol('PG', group = 'Symbols', inline = 's04')
s05 = input.symbol('PM', group = 'Symbols', inline = 's05')
s06 = input.symbol('PYPL', group = 'Symbols', inline = 's06')
s07 = input.symbol('QCOM', group = 'Symbols', inline = 's07')
s08 = input.symbol('RTX', group = 'Symbols', inline = 's08')
s09 = input.symbol('SBUX', group = 'Symbols', inline = 's09')
s10 = input.symbol('SCHW', group = 'Symbols', inline = 's10')
s11 = input.symbol('SLB', group = 'Symbols', inline = 's11')
s12 = input.symbol('SYF', group = 'Symbols', inline = 's12')
s13 = input.symbol('T', group = 'Symbols', inline = 's13')
s14 = input.symbol('TFC', group = 'Symbols', inline = 's14')
s15 = input.symbol('TGT', group = 'Symbols', inline = 's15')
s16 = input.symbol('TJX', group = 'Symbols', inline = 's16')
s17 = input.symbol('TMUS', group = 'Symbols', inline = 's17')
s18 = input.symbol('TSLA', group = 'Symbols', inline = 's18')
s19 = input.symbol('TWTR', group = 'Symbols', inline = 's19')
s20 = input.symbol('TXN', group = 'Symbols', inline = 's20')
s21 = input.symbol('UAL', group = 'Symbols', inline = 's21')
s22 = input.symbol('UNH', group = 'Symbols', inline = 's22')
s23 = input.symbol('V', group = 'Symbols', inline = 's23')
s24 = input.symbol('VIAC', group = 'Symbols', inline = 's24')
s25 = input.symbol('WBA', group = 'Symbols', inline = 's25')
s26 = input.symbol('WFC', group = 'Symbols', inline = 's26')
s27 = input.symbol('WMT', group = 'Symbols', inline = 's27')
s28 = input.symbol('WYNN', group = 'Symbols', inline = 's28')
s29 = input.symbol('XOM', group = 'Symbols', inline = 's29')
s30 = input.symbol('SPY', group = 'Symbols', inline = 's30')
s31 = input.symbol('SPY', group = 'Symbols', inline = 's31')
s32 = input.symbol('SPY', group = 'Symbols', inline = 's32')
s33 = input.symbol('SPY', group = 'Symbols', inline = 's33')
s34 = input.symbol('SPY', group = 'Symbols', inline = 's34')
s35 = input.symbol('SPY', group = 'Symbols', inline = 's35')
s36 = input.symbol('SPY', group = 'Symbols', inline = 's36')
s37 = input.symbol('SPY', group = 'Symbols', inline = 's37')
s38 = input.symbol('SPY', group = 'Symbols', inline = 's38')
Relative Strength Volume Adjusted Exponential Moving Avg [CC]The Relative Strength Volume Adjusted Exponential Moving Average was created by Vitali Apirine (Stocks and Commodities Feb 2022 pgs 14-18) and this is very similar of course to the last Relative Strength Exponential Moving Average . It works under the same concept with using overbought and oversold methods to adjust the moving average and with this particular version you will notice that sudden drops or increases won't follow super closely so this can be useful along with the other as a good complementary indicator to use with each other to determine the short and medium term trend and to give good entry and exit points. I have strong buy and sell signals in addition to normal ones so darker colors are strong and lighter colors are normal. Buy when the indicator line turns green and sell when it turns red.
Let me know if there are any other indicators or scripts you would like to see me publish!
Currency StrengthThis script measures the strength of the 6 major currencies USD, EUR, GBP, CAD, AUD and JPY.
Simply, it averages the RSI values of a currency vs the 5 other currencies in the basket, and displays each average RSI value in a table with color coding to quickly identify the strongest and weakest currencies over the past 14 bars (or user defined length).
The Dir. value looks at the difference in average RSI value between current and X bars back (user defined), telling you whether the combined RSI value has gone up or down in the last X bars.
Using the average RSI allows us to get a sense of the currency strength vs an equally weighted basket of the other majors, as opposed to using Indexes which are heavily weighted to 1 or 2 currencies.
The table doesn't load super fast as we are making 15 Security requests to get the values for each pair (where possible we reverse the values of the pair to reduce Security requests, e.g. we don't need to request EURUSD and USDEUR, we reverse the value to calculate the USD RSI).
ROC PercentileRate Of Change Percentile calculates the current ROC (user defined length) as a percentile rank.
We use 2 separate arrays, one for all positive ROC values and one for all negative values within a defined lookback period. Then the current ROC value is compared to those arrays to find it's percentile ranking.
For example, a ranking of 75 means the ROC is in the 75th percentile of all POSITIVE ROC values over the lookback period.
A ranking of -80 is in the 80th percentile of all NEGATIVE ROC values over the lookback period.
Most ROC scripts use raw ROC values (or smoothed or otherwise altered), or have stochastic formula applied to them, I've not seen one that displays ROC as percentile ranking of previous positive/negative values.
What is the advantage?
Raw ROC data only gives half the picture. What we want to do is compare the ROC to previous ROC values, to give a sense of scale. Raw ROC values don't give you that context and you can only compare visually, usually limited to the number of bars you can see on your screen.
Using a percentile ranking gives us the context of current Rate of Change relative to the previous Rate of Change over a large lookback period, and not just visually but mathematically.
Why not using a long stochastic ROC? The problem with stochastics in general is that an outlier data point can ruin the data for the rest of the lookback period.
For example, imagine a huge outlier 8% ROC. The 2nd largest ROC is 4% and the 3rd largest is 2%, with all other values below this.
In this example, a stochastic ROC would display the 8% outlier as 100, the 4% as 50, the 2% as 25 and all other data would be squeezed down between 0-25.
Additionally, a value of 60 may have vastly different meaning depending on whether the lookback period contains a large outlier or not.
With a percentile ranking, that 8% outlier would still have a value of 100. But the 4% and 2% would be 99 and 98 respectively (this assumes 100 data points in the series, in reality values will usually be decimals).
This effectively flattens the curve and gives a more consistent and dependable experience, allowing you to more accurately assess the relative importance of the current ROC.
The line of circles is set at the 50 and -50 values for quick comparison.
Values > 50 represent ROC greater than 50% of previous positive ROC values.
Values < -50 represent ROC greater than 50% of previous negative ROC values.
Currency Strength DashboardDrawing Currency Strength (consists of: USD, EUR, JPY, GBP, AUD, CHF, CAD, NZD) historical plots in parallel with currency strength heat map and dynamic legend, which makes this script unique as Dashboard.
Calculation criteria is based on user's input: Session, by which you can recalculate based on D, W, M.
TEWY - Magic Strength Indicator (SI)Detail about this indicator
1. This indicator is used to identify the trend based on the momentum of the counter selected.
2. This indicator is calculated three different metrics for selected script and it's Parent/Main Index as NSE:NIFTY (default) and Sector Index. Keep in mind below point
a) Parent/Main index is set to default NSE:NIFTY, though there is option to provide your own custom parent index e.g. US30, US 100'
B) Sector Index is identified automatically for set to predefined stocks and rest ate set to default NIFTY 500. Again you have option to change it to your preference
3. I have used the rate of change and RSI of it to calculate momentum for script, it's parent index and sector index.
4. I would typically use this indicator to see momentum on the Monthly and Weekly first and daily timeframe to get proper entry.
5. Also please try to stay in the long position only unless you understand the consequences for shorting a stock . why? because the imminent nature of the market is to go upward only.
6. Please try to keep base inputs as defaults, though it allows you to change input parameters
Let's understand this indicator
• On the tor right corner you would see three different numbers. 1st number is SI of the underlying Ticker. 2nd number is SI for the Sector Index and 3rd is for Parent Index SI.
• If selected ticker is outperforming it's parent index the you see one green "▲" and if ticker is also outperforming it's sector index then you would see two green "▲▲". Same on the downside.
• I would only take long position if selected ticker is at least outperforming Parent index, that means at least one green "▲".
• I would take exit from the position if I see no more green "▲".
Always respect RISKS and follow stop loss. In market stop loss is the only friend of yours.
I have given a sample illustrational image below, which should help you understand this indicator.
Best of luck
RSI Levels, Multi-TimeframeThe relative strength index (RSI) is a momentum indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions. RSI is normally displayed as an oscillator separately from price and can have a reading from 0 to 100. This indicator takes the RSI and plots the 30 & 70 levels onto the price chart so you can see when price is going to meet the 30 or 70 levels. The reason the 30 & 70 levels are important is because many traders (and bots) use those as signals to buy (at 30 RSI) or sell (at 70 RSI). Additionally, this indicator allows you to display not just the RSI levels of your currently viewed timeframe on the chart, but also shows the RSI levels of up to 6 different timeframes on the same chart. This allows you to quickly see if multiple RSI levels are aligning across different timelines, which is an even stronger indication that price is going to change direction when it meets those levels on the chart. There are a lot of nice configuration options, like:
Style customization (color, thickness, size)
Labels on the chart so you can tell which plots are the RSI levels
Optionally display the plot as a horizontal line if all you care about is the RSI level right now
Toggle overbought (RSI 70) or oversold (RSI 30) on/off completely
TSI with histogram and MA - SamXThis is an enhanced TSI. The others I've found on here have generally lacked sufficient settings context and/or alert definitions, so I made this version to address those gaps. In addition to that, I also added a way to plot a user-customizable moving average line of the TSI to better help identify trending conditions across TSI swings.
Relative Currency StrengthOur Indicator “Relative Currency Strength” offers an insight into the strength behind the quote and base currency of any Major/Minor Forex Instruments.
Every Forex Instrument is a relative conversion factor between two currencies - a quote currency and a base currency. This indicator calculates the strength for each of the currencies using predefined major Forex pairs to gauge the strength of the underlying Currency. If you are unfamiliar with how a Forex instrument is calculated we will provide an informational link at the end of the description.
This description will provide a High Level description of how our Indicator identifies and visualizes Relative Currencies Strength, followed by how to use the Indicator in your trading. At the end we would like to introduce our team and experience.
High Level Description of “Relative Currency Strength”:
Our indicator dissects the Forex Instrument into 2 values based on the Quote and Base Pair. The indicator uses 5 predefined Forex instruments per currency to calculate the Currency strength. For example, EURUSD forex instrument will display 2 values: EUR as a Quote value and USD as the Base value. Our indicator will use 5 Major Forex Instruments to gauge the strength of EUR, and another 5 Major Forex Instruments to gauge the strength of USD.
Visualisation:
The Base currency is the Blue line and the Quote Currency is the Yellow Line.
The area between the lines will be colored in either Gray, Green or Red - this area will be referred to as “Strength Area”.
If the Base currency is greater than the Quote currency, then the Strength area will be either Gray or Green.
If the Base currency is less than the Quote currency, then the Strength area will be either Gray or Red.
The color of the Strength area changes color depending on the Base/Quote Spread. If the Spread is Small, then the Strength Area is Gray.
If the Spread is wide, then the the accent of the color will be light, otherwise the accent of the color will be dark.
How to use it:
This Indicator is best used as a Trendfollowing Indicator.
For example, if the Strength Area turns Green and you have Bullish confluence on your Trade like a Bull flag, then this would provide an opportunity to enter a Long position and wait until the Strength Area either turns gray or dark green.
Looking at the Base and Quote Lines, will also give you a feeling if both parts of your currency are contributing to your anticipated Price change. That being said, if the base currency line is increasing and the quote currency line is decreasing, then that suggests that the both currencies are contributing to the Price change and hence increasing the probability of a major price Change.
Time frame:
This indicator is programmed to be used on all Timeframes.
Instruments:
Following Currencies will be calculated:
USD
EUR
GBP
NZD
AUD
CHF
JPY
CAD
XAU
XAG
SGD
SEK
NOK
This Indicator will work on all Instruments with at least one of these Currencies.
Our Team:
We are a team of 3 Traders with a combined experience of 40 years. We are using our experiences from the market to create Indicators to Visualize the most relevant Patterns to us in our trading today. Our goal is to reconstruct these patterns to match our understanding of the market and to simplify the process of creating reproducible trading Strategies.
Information Links:
www.investopedia.com
Adaptive Relative Strength (ARS by Premal Parekh)Dear All,
This is my first public script modified to adapt the concept of Mr. Premal Parekh on Adaptive Relative Strength - ARS)
The original Script is developed by modhelius.
I have proved the version as per my requirement and included concept of ARS.
This script will remove the manual calculation task which is required on daily basis to calculate number of sessions from ARS Date.
Hope this script will be helpful.
If yes, do hit like button and share with your friends.
Ashish Kesarkar
India
Relative Strength Improved (Premal Parekh ASR Version)This script is improved over the existing script developed by Mr. modhelius
I have added ASR Concept of Mr. Premal Parekh.
This script will remove manual calculation of Trading Days from ASR Date.
RVM Relative Volume MomentumRVM Relative Volume Momentum is an indicator that shows relative volume as a percentage of volume over the last 5 bars to the average volume of the same 5 bars of the previous 3 days.
RVI Relative Volume IntradayRVI Relative Volume Intraday is a simple label next to the last bar that shows the relative volume as a percentage of the ratio of today's volume to the average volume for the same intraday time period of the last five days. Useful for break-out intraday strategies.
Relative Strength ComparisonThis script plots the ratio between a ticker and the selected index. Currently, I have US equities indexes listed + BTC. It's a great way to check for relative strength, determine if absolute highs relative to the ratio are being made, etc.
Additionally, optional comparison of the RSI is included. I was just testing something out but figured I'd leave in here because why not. If you use this, enable the 1.0 line.
Script is a bit slow, will try to optimize eventually.
Inverse Fisher Transform ScreenerThis is a Screener for Inverse Fisher Transform on multiple oscillators
This tool is intended to aid you to visually analyse reasonable buy and sell IFT-signal thresholds across multiple tokens and different sources. It will help you speed up the tedious and manual work of trying out different IFT-settings when you're able to review the chart visually to find which values are present the most often and the location of that signal on the chart.
What does it bring to the table, why is it useful?
- Invese Fisher Transform on multiple oscillators such as RSI, MFI, CCI, Stochastic
- Combine multiple sources into one signal, select how it's calculated
- Visually review the chart for good IFT-settings
- 4 dynamic buy labels with different thresholds
- 4 dynamic sell labels with different thresholds
- Buy and sell on signal reversal
- Create your own trade alerts for automation
- Backtester compatible (plots 1 and 2 for buy and sell signals)
- A dynamic table counting amount of signals for each setting
- The labels are automatically updated when you change the values in the settings
How to use?
1. Change signal source and method
2. Change buy and sell thresholds
3. Show/hide additional labels
4. Review chart
5. Change trade settings
6. Backtest
7. Create alerts
Description
With this indicator you're able to visually review the signal strength of one or multiple oscillators processed with Inverse Fisher Transform ( IFT ), combine them and choose the method of calculation when they are combined. This produces a signal which strongly fluctuates between -1 and +1 instead of the more common 0-100 most oscillators uses. The intention is to make the decision making clearer and easier when you decide when to enter or exit a trade. This aims to help you remove the feelings from your trading.
Inverse Fisher Transform was first presented by John Ehlers in Stocks & Commodities V. 22:5 where he proposes to process RSI with the formula for hyperbolic tangent, tanh (x). This transforms the oscillator into a smoother and more compressed version with quicker oscillations.
