KivancOzbilgic

TKE INDICATOR by KıvanÇ fr3762

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TKE INDICATOR is created by Dr Yasar ERDINC (@yerdinc65 on twitter )

It's exactly the arithmetical mean of 7 most commonly used oscillators which are:
RSI
STOCHASTIC
ULTIMATE OSCILLATOR
MFI
WIILIAMS %R
MOMENTUM
CCI

the calculation is simple:

TKE=(RSI+STOCHASTIC+ULTIMATE OSCILLATOR+MFI+WIILIAMS %R+MOMENTUM+CCI)/7

Buy signal: when TKE crosses above 20 value
Oversold region: under 20 value
Overbought region: over 80 value

Another usage of TKE is with its EMA ,
You can add the EMA line of TKE in the settings menu by clicking the "Show EMA Line" button:

the default value is defined as 5 bars of EMA of the TKE line,
Go long: when TKE crosses above EMALine
Go short: when TKE crosses below EMALine
Sürüm Notları: updated to version 4
added Multiple Time Frame
Açık kaynak kodlu komut dosyası

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Bu komut dosyasını bir grafikte kullanmak ister misiniz?
Twitter: @kivancozbilgic
Youtube: http://youtube.com/c/kivancozbilgic