JK - Q Suite

28 ago 2023

This indicator is primarily for identifying pauses in Stage 2 uptrends, modelled on Qullamaggie's style of trading, but fits well with many traders including William O' Neil. or Mark Minervini.
I built this for my own purposes, and have gradually added range of tools into a single suite. My goal has also to be as clean as possible, while providing clear, actionable information.

This suite includes all of the following:

• Moving averages (10, 20, 50, 200)
  
• Coloured bars showing tightening price (blue under 75% of ADR, orange under 50% of ADR)
  
• A 'markets' dashboard (top-right), showing the major indexes. Red if 10<20MA, or price <20MA
  
• A 'sectors' dashboard (top-right, below markets). Red if 5<10MA, or price <10MA - see note below
  
• Strength / Weakness information - two cells at the top, bottom-right. See below
  
• Stock information - glanceable stock info as quick filters. The thresholds for ADR, Average volume, and Dollar Volume can be customised.
  

NOTE - if the 'tightening coloured candles' are not showing, the indicator needs to be at the top of the stack. Click the triple squares at the very bottom-right of the TradingView interface, and drag the indicator to the top, should work then!

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Sectors
These are based on the 11 official Sectors, tracked using index funds (XLY, XLK etc). HOWEVER, TradingView does NOT use the official 11 sectors - therefore I've done my best to match TradingViews ones to the official ones, but doesn't always work... e.g. 'Electronic Technology' is typically semiconductors, which are classes as 'Industrials', but Apple is the same sector in TV, but classed as 'Technology' using the official 11 Sectors.

If TradingView move to use the official 11 I'll update this, but for now it's a best guess and will sometimes be wrong, sorry!

Strength / Weakness information
This was an experiment in trying not to give too much back to the market! Typically the strategy would be to sell if price closes below 10MA (Weakness), however there may be large pops that can be advantageous to sell into.
The 'Strength' information (top cell, bottom-right), checks how far the price is extended above 10MA - this is customisable as a multiple of ADR. You may find that in weak markets (like now), it can be best to take profits quickly - in good markets, you could increase this as stocks make bigger or more sustained moves.

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While I'm not the best coder - and I've hacked and tried and changed different things - this has been a labour of love and essential for me.
If you have any suggestions, while I may or may not be able to implement them, I'm certainly open to ideas!

6 sept 2023

Notas de prensa

• Viewing sector index now turns sector letter white in sector grid
  
• Reorganised 'Market' overview, renamed MDY/IWM (added in tooltip if you hover mouse over)
  
• Made 'MMTW' smaller text so it doesn't widen the table
  
• Reduced ADR decimal precision by one to make it a little cleaner
  

TO DO (nothing urgent I think)

• Maybe add a bunch more emoji to tooltip on sectors so I remember what they are!
  
• Maybe add more control over what moving averages are used for Market / Sector tables, in case people want longer or shorter timeframes
  
• Trying to reduce decimal points shown on Vol and ASX:VOL as it's unnecessary and making table too wide...
  

27 feb

Notas de prensa

Added a few tweaks...

• "Extended" (ADR multiplier above 50MA) shown in table, and icon above bars
  
• "Weakness" (below chosen MA, 10 by default)
  
• "Target" (ADR multiplier above current price, default is 1x)
  

If I can't get a tight enough entry and stop loss, where the 'target' R/R is less than 1, I'll pass.

After entry, I'll take half off each time the price is extended (Strength), and look to close below the MA (Weakness)

1 may

Notas de prensa

• Added 150 EMA (just comment out or delete ones you don't want)
  
• Added Float
  
• Simplified Vol, DDVOL and Float by removing decimal places, was pushing the table width out and didn't add additional value (3.092B and 3B are close enough!)
  
• Disabled the bar colouring for now - just found I wasn't using it - left the code in there
  
• Added extended indicator (ADR multiple from 50MA)
  

21 may

Notas de prensa

• Added orange to markets and sectors (markets are green if price above 20MA AND 10>20, orange if only one true. Sectors using faster 10 and 5MA)
  
• Added some tooltips (hover over it) to clarify what each of them are for
  

2 jul

Notas de prensa

UPDATED

• Added a "Risk indicator" - This combines the 6x Indexes, and 11x Sectors, to give a total risk score and status.
  
• Removed target (ADR multiple above current price), and instead added in Float calculation to the table
  
• Added All Time High (ATH) calculation. This shows distance from highest price ever recorded for the current ticker. It shows the proximity from ATH in the table, and a short purple line on the chart above the price to visually show distance.
  

TO DO

• Might break out VIX, to give a measure of trend (Bullish / Bearish / None) and Volatility (High / Low). Low volatile and strong trend should be ideal for trend following strategies, whereas no trend and highly volatile may be better for another strategy such as mean reversion (tendency for price to pull back to the average)
  
• Probably add some more icons to the hover states for Sectors so I know what they mean 😋
  

NOTE - regarding the Sectors
TradingView uses RBICS (20 Sectors)
The whole rest of the world uses GICS (11 Sectors)

Although I've tried to convert between the two, there are unfortunately mis-matches - sometimes the same sector in TV matches one GICS sector, sometimes another... AFAIK there are no 'sector tickers' for all 20 RBICS sectors, if there are great, I'll use those instead!

15 jul

Notas de prensa

• Fixed typo with VIX logic
  
• Removed count from Market and Sector headers (values are still used to determine Risk state)
  
• Played with a visual overlay of risk - if you uncommon the last two lines you'll see it, need to make this into a configurable on/off option
  

1 ago

Notas de prensa

Small update:

• Indexes - Switched VIX for 10Y treasury bonds
  
• Changed "Risk" to "Direction" (which it was anyway, but this I think is clearer), and changed to icon (Hover for tooltip)
  
• Added volatility to Overview (using VIX)
  

Volatility (VIX) is still in progress - the background is based on moving averages (indicating if increasing or decreasing), but icon is based on VIX value (under 20 would be calm and believed to be better for swing trading).

Interestingly VIX is rising rapidly in the current market, even though VIX is "calm" (under 20)
Any suggestions, please comment below!

5 ago

Notas de prensa

Small update

• I think I've fixed volatility where market was closed, and showing an out-of-date status by about an hour (in this case the volatility massively spiked in that last hour!). If this works, may need to apply it to other indexes in specific scenarios, but should be rare.
  
• Updated tooltip for volatility, now should show direction (which relates to MAs) and status (which relates to current value)
  

Also made a slight tweak to MMTW which is just a touch larger, but in the next update should allow me to make the table size easily customisable for high resolution screens 🙂

P.s. forgot to mention it but this indicator was also designed to work on an iPhone screen, and aim to be as slim as possible.

If you have any suggested improvements please let me know 🙂

11 sept

Notas de prensa

Some small updates to give more user preferences:

• Added size options for the market sector and stock info, great for high resolution displays
  
• When selling into strength, the ADR multiple above the 50MA now accepts decimal values (default 4.5)
  
• A market direction overlay! Disabled by default, when ticked this shows a coloured background for what the general market direction was - great for comparing "bullish" and "bearish" periods for the general market, to the stock you're interested in
  

Hope you enjoy, and as always this indicator remains free and with public code, take and enjoy 🙂

TO DO (sometime):

• Clean up the settings screen - add some sectors, improve the language to make it clearer
  
• Add in my own Earnings and Sales dashboard (comparing QoQ % change). I'm currently using John Muchow's ESV Dashboard for this, but could be a little cleaner (remove the values and just leave % change)
  

13 sept

Notas de prensa

Fixed typo for table size, 'normal' should work now

17 sept

Notas de prensa

Apologies, I had to remove the optional background colouring (commented out), which has restored the ability to set colours for the moving averages. Not sure why one would affect the other, investigating.

20 sept

Notas de prensa

Lots of nice tweaks!

Added

• MA length and colour and opacity is editable
  
• Background colour for market direction can be enabled again (default off)
  

Improved

• Cleaned up all the indicator settings, improved titles and grouping
  

Removed:

• MMTW (>20) - data is delayed by a day, and the other 4 indexes should be sufficient
  
• 10Y treasury check - sometimes it correlates, sometimes not, but again the other 4 indexes should be sufficient
  
• Float (never used much)
  

22 sept

Notas de prensa

• Small tweak to fix up the Index score and Overview score, as I'd removed two indexes
  
• You can now get an automatic alert when a ticker reaches your "Sell into strength" value (multiple of ADR above 50MA). Simply add an alert, and select "Any alert() function call". This will then give you an alert the first time any bar reaches that extended high, to suggest selling into strength - for example if you set the alert on the Daily chart, you'll get an alert when the next daily bar is extended and you may want to take partial profits - if you change the Strength ADR multiple, you will need to re-setup the alert
  

10 oct

Notas de prensa

Small tweak - All time high indicator now uses the high of the day, instead of the close