The Arms index (TRIN) is a technical analysis indicator that compares advancing and declining stock issues and trading volume as an indicator of overall market sentiment. It measures the relationship between market supply and demand and is used as a predictor of future price movements in the market, primarily on an intraday basis. The Arms index seeks to provide a more dynamic explanation of overall movements in the composite value of stock exchanges, such as the NYSE or NASDAQ, by analyzing the strength and breadth of these movements.
Hi HPotter. Thanks for a TRIN. But I a little bit confused about inputs. Are we need to change according to symbols ? And I guess there is a market session in codes, correct ? It is not calculate in weekends or out of NYE sessions when I checked in cryptos. I will be glad if you enlighten us.
HPotter
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@TradeDesign, Yes, if you want to use different symbols you should to change it in 12-15 lines. And TF in 16 line.
TradeDesign
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@HPotter, Thanks. I think I get it. That lines already has in TV as an Index so you can calculate it TRIN basicly but we need to recalculate due to there is no ADV,DECL,UVOL and DVOL for BTCUSDT or other instruments.
DevilHanzo
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Does this indicator work as intended on other assets? Ie can the indicator be used on bitcoin? Is it looking at the correct parameters or it’s looking at nyse upvol/downvol only?
HPotter
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@magonrag, You can try to use it on the bitcoin. But you should to change levels.
himansu000007
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@HPotter, how to use it and what levels should i use for bitcoin?