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 ────────────────────────────
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.
Notas de prensa
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Bug fixes and improvements, added alert functionality (Divergences, Bollinger Bands, Overbought/Oversold levels) 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
Hello,
How can I gain access to these indicators?
Thanks
X2000X
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Hi Kryptonight
Keen Wyckoffian here. Obviously would love to experiment with these indicators as they are referenced in so many materials.
Is there a chance I could get access to your work/whats the process?
Best,
2000X
Chris_Inks
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I'd like to take your indicators for a spin -- test them out and see how they perform. Being an old-school Wyckoffian, having access to these specific indicators in TV would be advantageous.
KryptoNight
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@TexasWestCapital, sure, looking forward for some feedback
Chris_Inks
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@KryptoNight, Thank you. I'll be sure to let you know what I think.
RezekiTuhan
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Hi Sir, can I know how do I get access to this indicator of yours?
Thanks!
Simplicius
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Hello KryptoNight, yes, I wanted to contact you, unfortunately it is not possible on discord and on tradingview I get the following message: Oops, we can't post this message! You must be a PRO member and have 10 (or higher) reputation points to post links in the chat. Learn how to gain reputation points in blog and check our House Rules for the additional information. here is my email: simpliciussimplex@yahoo.com
Simplicius
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@Simplicius, I can read what you write, but I'm not able to respond