The is an extremely popular indicator used in . It can be used to identify aspects of a security's overall trend. Most notably these aspects are momentum, as well as trend direction and duration. What makes the so informative is that it is actually the combination of two different types of indicators. First, the employs two Moving Averages of varying lengths (which are lagging indicators) to identify trend direction and duration. Then, it takes the difference in values between those two Moving Averages ( Line) and an of those Moving Averages (Signal Line) and plots that difference between the two lines as a histogram which oscillates above and below a center Zero Line. The histogram is used as a good indication of a security's momentum.
Added Color Plots to Settings Pane.
Switched MTF Logic to turn ON/OFF automatically w/ TradingView's Built in Feature.
Added Ability to Turn ON/OFF Show & Signal Line.
Added Ability to Turn ON/OFF Show Histogram.
Added Ability to Change Line Colors Based on Trend.
Added Ability to Highlight Price Bars Based on Trend.
Added Alerts to Settings Pane.
Customized Alerts to Show Symbol, TimeFrame, Closing Price, Crosses Up & Crosses Down Signals in Alert.
Alerts are Pre-Set to only Alert on Bar Close.
Added ability to show Dots when Crosses.
Added Ability to Change Plot Widths in Settings Pane.
Added in Alert Feature where Cross Up if above 0 or cross down if below 0 (OFF By Default).
Traditionally, John Carter's version uses 20 period SMAs as the basis lines on both the BB and the KC.
In this version, I've given the freedom to change this and try out different types of moving averages.
The original squeeze indicator had only one Squeeze setting, though this new one has three.
The gray dot Squeeze, call it a "low squeeze" or an "early squeeze" - this is the easiest Squeeze to form based on its settings.
The orange dot Squeeze is the original from the first Squeeze indicator.
And finally, the yellow dot squeeze, call it a "high squeeze" or "power squeeze" - is the most difficult to form and suggests price is under extreme levels of compression.
Colored Index (CDMI), a custom interpretation of J. Welles Wilder’s Index (DMI), where :
DMI is a collection of three separate indicators ( , , ) combined into one and measures the trend’s strength as well as its direction
CDMI is a custom interpretation of DMI which presents ( , , ) with a color scale - representing the trend’s strength, color density - representing momentum/slope of the trend’s strength, and triangle up/down shapes - representing the trend’s direction. CDMI provides all the information in a single line with colored triangle shapes plotted on the bottom. DMI can provide quality information and even trading signals but it is not an easy indicator to master, whereus CDMI simplifies its usage. The CDMI adds additional insight of verifying/confirming the trend as well as its strength
Displaying the trend strength and direction
Displaying and di+/di- values
Displaying adx's momentum (growing or falling)
Where tooltip label describes "howto read colored dmi line"
Ability to display historical values of DMI readings displayed in the label.
Added "Expert Trend Locator - XTL"
The XTL was developed by Tom Joseph (in his book Applying ) to identify major trends, similar to 3 type swings.
Blue bars are and indicate a potential upwards impulse.
Red bars are and indicate a potential downwards impulse.
White bars indicate no trend is detected at the moment.
Added "Williams Fix" signal. The is one of the most reliable indicators in history for finding market bottoms. The Williams Fix is simply a code from creating almost identical results for creating the same ability the has to all assets.
The has always been much better at signaling bottoms than tops. Simple reason is when market falls retail traders panic and increase , and professionals come in and capitalize on the situation. At market tops there is no one panicking... just liquidity drying up.
The FE green triangles are "Filtered Entries"
The AE green triangles are "Aggressive Filtered Entries"
Added as source:
- On Balance Volume (OBV)
Accumulation Distribution (AccDist)
Price Volume Trend (PVT)
Added Background and Bar Colors to MACD.
Added Alerts to Williams Vix Fix (Aggressive Entry and Filtered Entry). Alerts are Pre-Set to only Alert on Bar Close.
Added Alerts to DMI (Bearish or Bullish Trend). Alerts are Pre-Set to only Alert on Bar Close.
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