The Idea: I had the idea for this script when I read an article about how assets tend to revert to their long-term average or mean. The concept behind "R2" is based on the assumption that extreme deviations from the average tend to be corrected. For example, if an asset is trading well above its historical average, there is a possibility that the price will return...
This indicator is designed to normalize the S&P 500 by sector. You can choose to normalize using the Z-score, DEMA, or MinMax. When using the Z-score or DEMA, a level line is displayed.
This script is a customized Relative Strength Index (RSI) indicator with added functionality, notably the optional Bollinger Bands overlay. At its core, the script calculates the RSI, which is a popular momentum indicator used in technical analysis to identify overbought and oversold conditions. It does this by taking the average gain and the average loss over a...
RedK Relative Strength Ribbon (RedK RS_Ribbon) is TA tool that plots the Relative Strength of the current chart symbol against another symbol, or an index of choice. It enables us to see when a stock is gaining strength (or weakness) relative to (an index that represents) the market, and when it hits new highs or lows of that relative strength, which may lead to...
Hello, Publishing this simple indicator. What is it? The Trend Correlation Oscillator takes the concept of my autocorrelation oscillator but applies it simply to time instead of autocorrelation. It performs a correlation assessment to time. The theory behind it is the stronger the correlation, the more "exhausted" the trend and the more likely the trend will...
The "Gradient Money Flow Divergence Detector" indicator has several use cases for traders. Let's explore the main use cases: 1. Money Flow Analysis : The primary purpose of this indicator is to analyze money flow in a particular asset. The Money Flow Index (MFI) is a momentum indicator that uses price and volume data to assess the buying and selling pressure in...
The Extrapolated Previous Trend indicator extrapolates the estimated linear trend of the prices within a previous interval to the current interval. Intervals can be user-defined. 🔶 USAGE Returned lines can be used to provide a forecast of trends, assuming trends are persistent in sign and slope. Using them as support/resistance can also be an...
Lines Plotted at the opening price of London, New York, New York Stock Exchange, and Asia. It could also plot lines of the closing price of the session. The script is just plotting a line at those levels to give us a visual indicator of those specific levels as they could be very beneficial for your trading. Opening and closing of the session hold the most...
Okay, so we've got an indicator here that prints buy sell signals based on engulfing candles and uses a 200 EMA and RSI to filter out some of the noise. This indicator incorporates price action, in the form of engulfing candles, moving averages and a momentum oscillator. It also has the of plotting either a Simple Moving Average or an Exponential Moving...
Title: RSI-Volume Oscillator Quick Scalping Indicator Description: The "RSI-Volume Oscillator Quick Scalping" is a powerful and versatile custom indicator designed for traders who engage in scalping strategies. This indicator combines the Relative Strength Index (RSI) with a Volume Oscillator to provide valuable insights into momentum and volume dynamics in the...
The Smoothed Vortex Indicator (SVI) is an enhanced version of the original Vortex Indicator (VI), designed to provide traders with a more refined and smoother representation of trend strength and potential reversals in financial markets. While both indicators share the same concept of measuring directional movement and true range, the SVI incorporates the Hull...
Pullback Analyzer - a trailing stop helper. This indicator measures the biggest pullback encountered during an up or down move. You can use the reported percentages to fine-tune your trailing stop. The reporting is very precise: On higher timeframes, the pullback size can sometimes not be determined exactly from the candles. In this case, the script displays a...
Price Change Rate (PCR) Description: The "Price Change Rate" (PCR) indicator is a customized tool designed to visualize the rate of price change over different periods. The PCR indicator plots three separate lines, each representing a distinct length of time. Each line represents the percentage change in price from the start of its designated...
Trend Strategy #2 Indicators: 1. EMA(s) 2. Fibonacci retracement with a mutable lookback period Strategy: 1. Short Only 2. No preset Stop Loss/Take Profit 3. 0.01% commission 4. When in a profit and a closure above the 200ema, the position takes a profit. 5. The position is stopped When a closure over the (0.764) Fibonacci ratio occurs. * NO IMMEDIATE...
Trend Strategy #1 Indicators: 1. SMA 2. Pivot high/low functions derived from SMA 3. Step lines to plot support and resistance based on the pivot points 4. If the close is over the resistance line, green arrows plot above, and vice versa for red arrows below support. Strategy: 1. Long Only 2. Mutable 2% TP/1.5% SL 3. 0.01% commission 4. When the close is...
This indicator shows entry and exit points for The Strat as well as potential setups. It also has full time frame continuity detection.
Moving Average Period:** This is the period of the moving average that will be used to identify the trend. A good starting point is 10 days. * **Candlestick Patterns:** The candlestick patterns that will be used to identify potential reversals in the trend. Some of the most common candlestick patterns include the bullish engulfing pattern, the bearish engulfing...
It's relatively easy to create a repainting system where you can detect consolidation but it can be pretty hard to detect breakouts while the consolidation is happening live. This experimental approach came to my mind after brainstorming a bit. What it does This indicator DOES NOT REPAINT and try to show consolidation zones by coloring the bars or background...