Technometer - Multi Timeframe [WYCKOFF ARSENAL]
Based on <<The Wyckoff Method>> (Richard D. Wyckoff)
Noted Indicators:
▪ Optimism Pessimism Index
▪ Force Index
▪ Technometer ◄
▪ Momentum
Main Features:
▪ Multi Timeframe is available
▪ Volume based indicators
▪ Can be used on pairs that have volume data
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Highlights
> Optimism Pessimism Index or OP
The value of the OP is not important.
The action of the OP is important.
The action of the index must be compared to its previous action or to the price index over the same period of time.
> Technometer or TEC
The purpose of the Technometer is to provide a mathematical indication of the degree to which the market is overbought or oversold.
The value of the Technometer could be as high as 100 or as low as 0.
The other possible values would represent degrees of overbought or oversold.
How to read the Technometer:
| Overbought means vulnerable to a reaction |
100 - completely overbought market.
── 60 - actual overbought extreme.
──── 50 or higher is considered to be clearly over bought.
────── lower than 50 - relatively overbought.
──────── Everything in between clearly overbought and clearly oversold is neutral.
────────── A reading of 44.4 is absolute neutrality.
──────── Everything in between clearly overbought and clearly oversold is neutral.
────── higher than 38 - relatively oversold.
──── 38 or lower is considered to be clearly over sold.
── 28 - actual oversold extreme.
0 - completely oversold market.
| Oversold means vulnerable to a rally |
> Force
The purpose of the Force Index is to provide an indication of the pressure being applied to push the market lower or the pull being applied to the market to pull it higher.
> Momentum
The purpose of the Momentum is to provide a measure of the speculative interest in the market.
Rainbow version of this indicator is available on this page: 🌈 Rainbow Technometer
A Market Screener using this indicator is available on this page: Market Screener
Script que requiere invitación
Solo los usuarios autorizados por el autor pueden acceder a este script. Tendrá que solicitar y obtener permiso para utilizarlo. Normalmente se concede previo pago. Para obtener más información, siga las instrucciones del autor o póngase en contacto directamente con KryptoNight.
TradingView NO recomienda pagar o utilizar un script a menos que confíe plenamente en su autor y entienda cómo funciona. También puede encontrar alternativas gratuitas de código abierto en nuestros scripts de la comunidad.
Instrucciones del autor
Advertencia: antes de solicitar acceso, lea nuestra guía relacionada con los scripts que requieren invitación.
discord.io/CryptoWorld
a Discord bot for Charting (TradingView and Heatmaps) is available
🟣 If you like any of my Invite-Only Tools, let me know
(DM or Discord for inquiries)
Exención de responsabilidad
Script que requiere invitación
Solo los usuarios autorizados por el autor pueden acceder a este script. Tendrá que solicitar y obtener permiso para utilizarlo. Normalmente se concede previo pago. Para obtener más información, siga las instrucciones del autor o póngase en contacto directamente con KryptoNight.
TradingView NO recomienda pagar o utilizar un script a menos que confíe plenamente en su autor y entienda cómo funciona. También puede encontrar alternativas gratuitas de código abierto en nuestros scripts de la comunidad.
Instrucciones del autor
Advertencia: antes de solicitar acceso, lea nuestra guía relacionada con los scripts que requieren invitación.
discord.io/CryptoWorld
a Discord bot for Charting (TradingView and Heatmaps) is available
🟣 If you like any of my Invite-Only Tools, let me know
(DM or Discord for inquiries)