This script shows various technical indicators in a stacked vertical candle called Market Termometer. It helps to see the price action in one single vertical column where the actual price moves up or down. So you can see the price change based on your custom setting levels.
I've been studying ALGO for over a year and made many live experiment trades long and shorts. So, I'm trying to find a way to see what is ALGos next move. If it sounds far-fetch, then you should see my other published scripts.
Here is example of how ALGo dance around old indicators, which is why I started creating a bunch of new indicators that ALGO doesn't know Example: Impact-driven-algorithm= Large volume masked as small volume to keep the price at desired level. So, your chart says overbought but market doesn't drop for days Cost-driven-algorithm= Hedge fund buy every time at lower price and prevent others to buy low, moving up fast. Is like a clock with millisecond timing and ALGO owners know when to buy low and when to sell high
If you have a good idea, let me know so i can include it the future versions.
Enjoy and think outside the box, the only way to beat the ALGO
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This is second version, with some revision to the code to work in lower time frames and I removed fixed user input to keep it dynamic for any stock out of the box. It is still a WIP from my perspective but I don't want perfect becomes enemy of the good. In my other life, I manage software development using Agile techniques. So, I rather publish early with what I have and polish later. So, if you see the code is untidy or bells and whistles are missing, is because the concept and rapid sharing to get feedback in my view are for more important
I've tried to reach to top scripters to start a collaboration and making slow progress. We need to work together, share knowledge to survive.
Enjoy
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This new version kicks ALH=GO's ass. I was going to wait to publish later at US cash open it but since AISA is no open open and SPX going down, I release this interim version. Check the Market Strength (Black) candle ot has gone below my lowest part of thermometer. If you trade SPX uses it at your own risk of course. I shorted and profited this morning of it.
Follow me as I change this particular indicator today since market was closed when I designed it and couldn't see its full potential.
This script will change drastically as I experiment with making it more accurate. So, follow me to get notified when it changes. V3 is in cooking in the factory. When ASIA cash market opens, then I can test and change as I started this over the weekend when most market are closed. So it needs calibration
arunagirish03
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wow , nice concepts . algo kicked me and made me to loose much everyday. I too have a revenge on algo..expecting your newer version soon which I goanna take as weapon against algo
ErichSch
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Looks very good, just nutting through the code looking at exactly how to read - will definitely try it and advise :)
stockmarketupdate
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@ErichSch, I'm working on a new version overlayed on the actual chart with thermo balls history. You can try this one with overlay set to true to try it.I'm a trader so don't have time much for programming so the code is still a bit rough but it does the job. I ditched the Pivots in the new version. After One year of playing chess with Algo I leant, old indicators don't work. Hence, my bizarre scripts with a touch of Quantum Physics Psychology :)
ErichSch
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@stockmarketupdate, your scripts are unique - i like them :) This is the first - will be playing with the last few you have done :)
stockmarketupdate
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@ErichSch, Do me a favor and tell me if you see an angle to add to it. I loath ALGO and want to make Money. Believe it or not, I made more money shorting SPX when I deploy my Quantum Scripts. It could be phycology, coincidence or something deeper. Either way it works for me. I still hold $920 tesla short. I was experimenting with Tesla when price exploded to upside and my bizzare chart gave me a signal and I shirted tesla. I'm sitting on loads tesla Green. I hate this market and I need to get even with it. Apologies for temper. It has been hell since Fed killed the volatility. Silver Lining, bizarro scripts
stockmarketupdate
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@stockmarketupdate, I'm about to release the new version. It works much faster and made me good money today shorting both SPX and AU200. Stand by.
ErichSch
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@stockmarketupdate, all good - i will have a very thorough look :) Just remember what doesnt kill you makes you stronger :)
stockmarketupdate
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@ErichSch, Thanks. My losses turned into profit when I learned all I could from my ALGO experience. SPX ALGO and I are nemesis and we both had our share of pain and pleasure.