JG RSI/MFI/divergence IndicatorThis is a combination of
- RSI (relative strength index)
- MFI (money flow index)
- Divergences on the RSI
MFI behaves much the same as RSI but it more responsive/to some degree a leading indicator. I find it helps having this overlayed with RSI to help gauge price action and sentiment, as well as for confluence with RSI.
Göreceli Güç Endeksi (RSI)
Phase-Accumulation Adaptive RSX w/ Expanded Source Types [Loxx]Phase-Accumulation Adaptive RSX w/ Expanded Source Types is a Phase Accumulation Adaptive Jurik RSX.
What is RSX?
RSI is a very popular technical indicator, because it takes into consideration market speed, direction and trend uniformity. However, the its widely criticized drawback is its noisy (jittery) appearance. The Jurk RSX retains all the useful features of RSI , but with one important exception: the noise is gone with no added lag.
What is Phase Accumulation?
The phase accumulation method of computing the dominant cycle is perhaps the easiest to comprehend. In this technique, we measure the phase at each sample by taking the arctangent of the ratio of the quadrature component to the in-phase component. A delta phase is generated by taking the difference of the phase between successive samples. At each sample we can then look backwards, adding up the delta phases.When the sum of the delta phases reaches 360 degrees, we must have passed through one full cycle, on average.The process is repeated for each new sample.
The phase accumulation method of cycle measurement always uses one full cycle’s worth of historical data.This is both an advantage and a disadvantage.The advantage is the lag in obtaining the answer scales directly with the cycle period.That is, the measurement of a short cycle period has less lag than the measurement of a longer cycle period. However, the number of samples used in making the measurement means the averaging period is variable with cycle period. longer averaging reduces the noise level compared to the signal.Therefore, shorter cycle periods necessarily have a higher out- put signal-to-noise ratio.
Included:
-Toggle on/off bar coloring
RSI - S&P Sector ETFsThe script displays RSI of each S&P SPDR Sector ETF
XLB - Materials
XLC - Communications
XLE - Energy
XLF - Financials
XLI - Industrials
XLK - Technology
XLP - Consumer Staples
XLRE - Real Estate
XLU - Utilities
XLV - Healthcare
XLY - Consumer Discretionary
It is meant to identify changes in sector rotation, compare oversold/overbought signals of each sector, and/or any price momentum trading strategy applicable to a trader.
ATR-Adaptive, Smoothed Laguerre RSI [Loxx]ATR-Adaptive, Smoothed Laguerre RSI is an adaptive Laguerre RSI indicator with smoothing to reduce noise
What is Laguerre RSI?
The Laguerre RSI indicator created by John F. Ehlers is described in his book "Cybernetic Analysis for Stocks and Futures".
This version:
Instead of using fixed periods for Laguerre RSI calculation, this indicator uses an ATR (average True Range) adapting method to adjust the calculation period. This makes the RSI more responsive in some periods (periods of high volatility), and smoother in order periods (periods of low volatility). Also this indicator adds an option to have smoothed source input including Loxx's Expanded Source Types.
Included
-Loxx's Expanded Source Types
-Bar coloring
RAS.V2 Strength Index OscillatorHeavily modified version of my previous "Relative Aggregate Strength Oscillator" -Added high/low lines, alma curves,, lrc bands, changed candle calculations + other small things. Replaces the standard RSI indicator with something a bit more insightful.
Credits to @wolneyyy - 'Mean Deviation Detector - Throw Out All Other Indicators ' And @algomojo - 'Responsive Coppock Curve'
And the default Relative Strength Index
The candles are the average of the MFI ,CCI ,MOM and RSI candles, they seemed similar enough in style to me so I created candles out of each and the took the sum of all the candle's OHLC values and divided by 4 to get an average, same as v1 but with some tweaks. Previous Peaks and Potholes visible with the blue horizontal lines which adjust when a new boundary is established. Toggle alma waves or smalrc curves or both to your liking. This indicator is great for calling out peaks and troughs in realtime, although is best when combined with other trusted indicators to get a consensus.
TTP 3-checkmarks CCU market bottomThis indicator is an implementation of the method published by Steve from Crypto Crew University .
I didn't design this strategy, I'm only implementing it to allow people to be able to backtest it or set trading view alerts based on the original criteria.
This indicator can be backtested with Gavin's backtester, TTPTSL and any other indicator that can take a 1 as an external signal to buy.
How to use:
- add to INDEX:BTCUSD
- set the timeframe to 2D
Indicator parameters
- RSI 14
- stochastic RSI 3 3 14 14
- MA 200
- all in 2 day timeframe and using the close as source
Strategy:
- price needs to be below 200 MA
- RSI < 26
- stochastic rsi both lines below 20
- price should not be crossing the MA ( I added this to remove one signal that Steve also manually removed in the video)
I recommend watching his video to understand how it's supposed to work in more detail.
youtu.be
It's interesting to see that there are a few more signals that are fairly good but are being marked as invalid in the video even though they seem to fulfil the 3 checkmarks too. I left a question in the video to learn why and if it's intended. I'll keep you posted.
RSI Trend Heatmap in Multi TimeframesRSI Trend Heatmap in Multi Timeframes
Description
Sometimes you want to look at the RSI Trend across multiple time frames.
You have to waste time browsing through them.
So we've put together every time frame you want to see in one indicator.
We have 10 layers of RSI Trend heatmap available for you.
You can set the timeframe as you want on the Settings page.
Description of Parameter RSI Setting ** You can change it by setting.
RSI Trend Length : (Default 50)
Source : (Default close)
RSI Sideways Length : (Default 2 = RSI between 48 .. 52)
Description of Parameter RSI Timeframe ** You can change it by setting.
""=None,
"M"=1Month, "2W"=2Weeks, "W"=1Week,
"3D"=3Days, "2D"=2Days, "D"=1Day,
"720"=12Hours, "480"=4Hours, "240"=4Hours, "180"=3Hours, "120"=2Hours,
"60"=60Minutes, "30"=30Minutes, "15"=15Minutes, "5"=5Minutes, "1"=1Minute
Default Configurate of RSI Timeframe (for a time frame of 1 hour to 1 day)
"W"= Timeframe 1 month shown in line 90-100 --> Represent Long Trend of RSI
---------------------------------------
"D2"= Timeframe 2 days shown in line 70-80 --> Represent Trend of RSI
"D"= Timeframe 1 day shown in line 60-70 --> Represent Trend of RSI
---------------------------------------
"240"= Timeframe 3 hours shown in line 40-50 --> Represent Signal Up/Signal Down/Divergence of RSI
"120"= Timeframe 2 hours shown in line 30-40 --> Represent Signal Up/Signal Down/Divergence of RSI
"60"= Timeframe 1 hour shown in line 20-30 --> Represent Signal Up/Signal Down/Divergence of RSI
"30"= Timeframe 30 minutes shown in line 10-20 --> Represent Signal Up/Signal Down/Divergence of RSI
"15"= Timeframe 15 minutes shown in line 00-10 --> Represent Signal Up/Signal Down/Divergence of RSI
Description of Colors
Dark Bule = Extreme Uptrend / Overbought / Bull Market (RSI > 67)
Light Bule = Uptrend (RSI between 50-52 .. 67)
Yellow = Sideways Trend / Trend Reversal (RSI between 48 .. 52) ** You can change it by setting.
Light Red = Downtrend (RSI between 33 .. 48-50)
Dark Red = Extreme Downtrend / Oversold / Bear Market (RSI < 33)
How to use
1. You must first know what the main trend of the RSI is (look at the 60-80 line). If it is red, it is a downtrend. and if it's blue shows that it is an uptrend
2. Throughout the period of the main trend There will always be a reversal of the sub-trend. (Can see from the 0-50 line), but eventually will return to follow the main trend.
3. Unless the sub trend persists for a long time until the main trend changes.
RSI, Stoch Rsi, EMA, SMA, & ROCThis indicator is simply an enhanced version of the RSI followed up by a few extra indicators that pair strongly with the RSI. This indicator allows the user to interact with various inputs based off the indicators provided. All indicators include moving average, relative strength index, stochastic relative strength index, simple moving average, exponential moving average, and rate of change. This program is unique as it is very versatile allowing the user to use as little or as many indicators as needed interchangeably.
Dragon Double RSIMost important thing is feeling inspired and relaxed. Forcing your way into anything under stress and pressure will only end up in disaster
This indicator consists of three RSIs.
RSI: RSI is common and its length is 14.
RSI 1: The slowest RSI. The length is 100.
RSI 2: Faster than RSI 1. The length is 50.
Fib and RSI Strategy PineconnectorUse on 1m only For best results
strategy check for RSI overbought or oversold when key Fib levels are hit
Optimisez to use with Pineconnector using alerts with {{strategy.order.alert_message}}
Feel free to comment or DM if you want to improve
Enjoy
Volume Risk Avoidance IndicatorPrice Pattern Analysis is the core of trading. But price patterns often fails.
VRAI (Volume Risk Avoidance Indicator) shows Volume Pressure, so that you can avoid volume-based risks.
For example, never short when you see green (buying pressure). Never long when you see red (selling pressure).
You still need to pick good price patterns, because the crossover of volume pressure is not reliable.
Enjoy!
RSI Divergence Scanner by zdmreDivergence is when the price of an asset is moving in the opposite direction of a technical indicator, such as an oscillator, or is moving contrary to other data. Divergence warns that the current price trend may be weakening, and in some cases may lead to the price changing direction.
If the stock is rising and making new highs, ideally the RSI is reaching new highs as well. If the stock is making new highs, but the RSI starts making lower highs, this warns the price uptrend may be weakening. This is negative divergence.
Positive divergence is the opposite situation. Imagine the price of a stock is making new lows while the RSI makes higher lows with each swing in the stock price. Investors may conclude that the lower lows in the stock price are losing their downward momentum and a trend reversal may soon follow.
Divergence is one of the common uses of many technical indicators, primarily the oscillators.
Use it at your own risk
Buy Sell Indicator - WJThis is a simple Buy Sell indicator using the 3 indicators namely EMA50, RSI3 and ADX5. This is just for illustration feel free to test it and make improvements.
Bonds RSIA visually appealing RSI indicator with "at a glance" visual cues to quickly and easily identify who is in control of the chart.
This indicator provides clear "Bull" and "Bear" control zones, as well as a built-in EMA that is color changing based on the trend direction.
All functions, specific data points and color themes are 100% customizable to allow the user the ability to tweak all aspects of this tool to their own liking.
As time allows I will be adding additional features & functions.
Please like & share this indicator if you find it useful.
RSI OverlayThis is the stock RSI index using the Price as the midline.
It can be useful to view information normally displayed in a second pane overlaid on the price chart. As far as I know, this has not been done for one of the most widely used indicators, the Relative Strength Index.
This can be overlaid anywhere on the chart and every parameter is variable. If you'd like to change the position, the RSI, midline, upper line, and lower line are scaled with a factor "*close/x"
To change the position on the chart, simply change the "X" until you are pleased with the location.
The RSI MA was distracting so I removed it. I also published this indicator including the MA, titled "RSI Overlay with MA."
PSS Divergence RSIThe objective of the script is to identify the divergences (positive / negative) and visualize them as an indicator to easily spot the possible trend change.
Ingredients -
a. 34 period RSI at current candle
b. 34 period RSI at 21 candles back
c. 5 EMA of a
d. 5 EMA of b
e. 5 EMA of current candle
f. 5 EMA of 21 candles back
Description -
The indicator is designed for scalping and to smooth-out the noise in shorter timeframe (1 min), bigger period (34) is used for RSI calculation.
The core idea of divergence is to look at RSI movement in relation to price movement, hence a ratios are created for RSI value relative to it's price.
R1 = rsiMA1*100/priceMA1
R2 = rsiMA2*100/priceMA2
Some mathematics is applied over the calculated ratios to determine if there is bullish or bearish divergence -
Div = (R1-R2)*100/(R1+R2)
The reasoning to apply 5 EMA to price as well as RSI is to compare areas (5 candles) instead of single point comparison for better insights.
The value above zero line is considered positive divergence and below zero line is negative divergence.
Recommended to combine with Pivot Points, Fibonacci or Gann levels as confirmation to enter the trade.
Reviews / feedbacks are most welcome !
Prasad Shenwai
prasad.s.shenwai@gmail.com
RSI Integral by Hawkeye Charting**** German Description below ****
This is the RSI Integral indicator.
Basically, it's a normal RSI but improves the visualization of the strength in the market.
The upper shown RSI display the integral of the RSI (f(x)) and the neutral RSI level (50) (g(x)).
The blue background coloring visualizes the area as the integration of both the mentioned functions --> H(x) = F(x) - G(x) and indicates, how strong and directed the market currently is.
Markets regulate and bring them back to the mean by themselve; by that fact, the consideration is that remaining a longer time in e.g. the upper zone requires to "unleash" the collected energy from the upper levels to the downside and vice versa.
So the major advantage of this indicator is to monitor and compare the given areas above and below the neutral level and making imbalances visible.
Furthermore, the lower shown RSI shows the complete displaying of the indicators functions, as it displays possible long and short entry and exit areas.
Read the chart to understand the system. Please note that the program waits on interval after the actual cross event before it changes the background color. This is to avoid false signals that last only 1 candle.
The last components are the overbought and oversold zones. They are equal to the standard RSI overbought and oversold levels.
You have the following setting options:
--> Timeframe selection
--> Generally Displaying the RSI yes/ no
--> Changing source, length and color of the RSI itself
--> turning on/ off the neutral RSI level (50), changing the neutral level value and changing the background color. (Note: Undisplaying the neutral level will remove the background coloring as well).
--> turning on/ off the upper RSI zone, changing the zone-border-values and -colors and changing the background color. (Note: same as neutral RSI level)
--> turning on/ off the lower RSI zone, changing the zone-border-values and -colors and changing the background color. (Note: same as neutral RSI level)
--> turning on/ off the RSI average, changing the Moving Average type, length and color.
--> turning on/ off the Moving Average Long/ Short Background and changing the colors for long and short direction.
--> smoothing of the rsi itself. Note: it will affect the alert events as well, if the rsi smoothing function is selected.
Last but not least, you can set alerts:
--> Alert for overbought/ oversold area (cross in/ cross out, message: Check for divergences)
--> Alerts for open and close long
--> Alerts for open and close short
A complete "Alert-Set" requires 6 Alerts.
I'd like to know what you think! Please leave a comment, I will answer ASAP .
Please leave a like and a follow if you like this work and don't forget to check out my major work, the Market Maker Volatility Diameter, see the link below.
Enjoy and always happy trades.
Yours
Markus aka Hawkeye Waver from Hawkeye Charting
-------------------------------------------------------------------------------------
**** Deutsche Beschreibung ****
Das ist der RSI Integral Indikator.
Im Grunde handelt es sich hierbei um einen normalen RSI , allerdings verbessert er die Visualisierung der Stärke im Markt.
Der obere RSI im Beispielbild zeigt das Integral des RSI , bezogen auf den RSI f(x) selber sowie seines neutralen Levels beim Wert 50 = g(x).
Der blaue Hintergrund visualisiert die Flächenfunktion des Integrals der beiden genannten Funktionen --> H(x) = F(x) - G(x) und indiziert, wie stark und nach wohin der Markt gerade gerichtet ist.
Märkte regulieren sich selber und bringen sich auch immer wieder selber zum Durchschnitt und zur Balance zurück. Dieser Fakt führt zu der Überlegung, dass ein langes Aufhalten in z.B. der oberen Zone unweigerlich eine "Freisetzung" der gesammelten Energie der oberen Levels nach unten nach sich ziehen wird und umgekehrt.
Die Hauptvorteil dieses Indikators ist also, dass die entstandenen Flächen über und unter dem Neutralen RSI Level einfach beobachtet und verglichen werden können, um so Ungleichgewichte im Chart zu erkennen.
Desweiteren zeigt der unten im Chart abgebildete RSI die vollständige Anzeige der Indikatorfunktionen. Es ist nämlich auch möglich, Long und Short Signale für Einstieg und Ausstieg anzuzeigen.
Bitte lest den Chart, um das System zu verstehen. Beachtet: das Programm wartet 1 Intervall zur Bestätigung, bevor es einen Traderichtungswechsel auch anzeigt. Diese Maßnahme wurde getroffen, um falsche Signale zu reduzieren.
Die letzten Komponenten sind die Überkauft- und Überverkauftzonen. Sie sind gleich wie die Standard RSI überkauft und überverkauft Levels zu interpretieren.
Der Indikator bietet die folgenden Einstellmöglichkeiten:
--> Timeframe Auswahl
--> RSI generell anzeigen ja/ nein
--> Quelle, Länge und Farbe des RSI selber verändern
--> Neutrales RSI Level an- und ausschalten, Level-Wert verändern und die Hintergrund-Farbe ändern. (Anmerkung: Das Abschalten des Neutralen RSI Levels wird auch die Hintergrundfärbung abschalten.)
--> An- und Ausschalten der oberen RSI Zone, Zonengrenzwerte und -farben verändern und Hintergrundfarbe verändern. (Anmerkung: s. Neutrales RSI Level)
--> An- und Ausschalten der unteren RSI Zone, Zonengrenzwerte und -farben verändern und Hintergrundfarbe verändern. (Anmerkung: s. Neutrales RSI Level)
--> An- und Ausschalten des RSI Durchschnitts, verändern des Durchschnitt-Typs, der Länge und der Farbe
--> An- und Ausschalten der Durchschnitt Long und Short Hintergrundfärbung sowie Änderung der Hintergrund Farben für Long und Short Richtung
--> Glättung des RSI. Anmerkung: Die Alarme werden sich auf den geglätteten RSI und nicht auf den RSI selber beziehen, wenn die Funktion selektiert ist.
Zu guter Letzt, der Indikator bietet die Funktion, Alarme einzustellen:
--> Alarm für Überkauft/ Überverkauft Zonen (Einkreuzen/ Auskreuzen, Nachricht: Auf Divergenzen prüfen)
--> Alarme für Long Öffnen & Schließen
--> Alarme für Short Öffnen & Schließen
Ein vollständiges "Alarm-Set" benötigt 6 Alarme.
Ich möchte gerne wissen, was ihr über den Indikator denkt! Bitte hinterlasst eure Kommentare, ich werde asap antworten.
Bitte hinterlasst ein Like und ein Follow wenn euch diese Arbeit gefällt und vergesst nicht, meine Hauptarbeit, den Market Maker Volatility Diameter auszuchecken, s. Link unten.
Viel Spaß mit dem Indikator und allzeit gute Trades
Euer
Markus aka Hawkeye Waver von Hawkeye Charting
CyclicRsiLib█ OVERVIEW
This library is complementary for Cyclic RSI High Low With Noise Filter.
█ CREDITS
LoneSomeTheBlue
WhenToTrade
AlertFrequency()
: AlertFrequency
Parameters:
: : _string
Returns: : _freq
CyclicRSI()
: CyclicRSI
Parameters:
: : _source, _length, _expression
Returns: : osc
Credits to WhenToTrade
AddToZigzag()
: AddToZigzag
Parameters:
: : _id, value, max_array_size
Returns: : array.unshift, array.pop
Credits to LonesomeTheBlue
UpdateZigzag()
: UpdateZigzag
Parameters:
: : _id, value, max_array_size, dir
Returns: : AddToZigzag, array.set
Credits to LonesomeTheBlue
BoolZigzag()
: BoolZigzag
Parameters:
: : ph, pl, dirchanged, _id, dir
Returns: : AddToZigzag, UpdateZigzag
Credits to LonesomeTheBlue
NoiseSwitch()
: NoiseSwitch
Parameters:
: : _string, _id
Returns: : FilterNoise
LineGray()
: LineGray
Parameters:
: : _id
Returns: : LineGray
LabelDir()
: LabelDir
Parameters:
: : _id, _string, _color, _float
Returns: : LabelDir
TernaryLabel()
: TernaryLabel
Parameters:
: : _dir, _bool1, _bool2, _string1, _string2
Returns: : str_label
TernaryColor()
: TernaryColor
Parameters:
: : _dir, _bool1, _bool2
Returns: : col_label
WILDER's RSI Back-calculation■Purpose of this script
Back-calculate the stock price based on WILDER's RSI* formula.
*Relative Strength Index
■Logic Overview
This time, RSI calculation formula by WILDER is adopted. WILDER's formula is generally used.
Unlike Cutler's RSI, which is calculated from the ratio of the simple sum of price increases and decreases, this formula uses a modified moving average.
Therefore, more weight is placed on recent stock price.
This script back-calculates future stock prices from past stock price data and set RSI values.
Therefore, you can receive the offer of the buy price in the oversold phase and the offer of the sell price in the overbought phase with reference to the RSI index.
■How to use
Enter the following on the parameters input screen
Sauce (usually close)
Reference period(14 is optimal by J.W. Wilder)
Base Date(usually 100)
RSI target value (Generally, buy below 30 and sell above 70)
When to ask for stock price (After the latest bar closing price is decided: next. The latest bar is moving: current.)
For example, when selecting a daily chart, before trading hours: , during trading hours:
when selecting a weekly chart, the closing price is not fixed, for example on Wednesday:
MZ Momentum Non Repainting HTF HFT Scalper BotThis is an original script meant to be a high frequency trader that works on higher time frame calculations. I came up with the idea that using calculus I can figure out the actual rate of change and momentum with different calculations than the momentum indicator that is provided by trading view. Once momentum is shifted on a small time frame, it will provide an entry signal. The script is meant to be used on an algorithmic trading system for scalping purposes. It should be run on a one minute time frame.
Set it up on a one minute chart - setup your bot on a one minute interval.
Find the source of your data. You can use any time frame, open, close. high, low, olc4. Open is pretty much guaranteed to not have any repainting issues - although all the other calcs use a custom isbarconfirmed security repaint calculation.
Set your rate of change period - typically I use a one minute time frame for this as well - but set my length fairly long (30-40).
Then set your period for momentum calculation. This will sample the rate of change data to figure out your momentum. I typically try a setting of 6-8. If that doesn't work, try setting it about the same as the rate of change period and add or subtract a few from there.
Unfortunately due to various plotting constraints in Pinescript, you cannot plot the rate of change and momentum and price in the same.
Set your trigger point. I try values -30, -20, -10, 0, 1. Then finesse to get an earlier entry signal. You should account for a slight delay from the signal to the actual entry. Your backtest should test well, but please note that does not gaurantee results. In my findings, I have seen that there is a slight minimal delay between signal to entry and that can make the difference whether your trade is profitable or not.
Use the show data to show you additional data when you are backtesting. This can allow you to try to filter out results or market conditions that do not work. I typically work with the RSI and use the 30 minute and 15 minute RSIs. I make sure that it is trading within a certain band - about 40-75. You can try the inverse and only buy during really low RSI's as well.
Use the enter and close messages to setup your webhook messages. But I recommend to allow the algo trading platform to close the trade for you based on their calcs since that platform knows the actual price level and when it has become profitable.
Filters have been setup for
Moving Average Variants - any time frame, any length.
RSI - Any time frame, any length,
Future Plans: ATR Filter so you can filter out low volatility periods.
Send me a message with any suggestions.
Nifty-15mins-Trend-followerThis script is developed for Nifty on 15mins timeframe intervals. It is purely developed on CCI, RSI and SR (Support and Resistance)
Don't use this script results for trading purpose. Use this as an study purpose
Artharjan Market AnalysisHi,
I have created Artharjan Market Analysis dashboard to help traders to take complete view of the stocks of a particular sector or a benchmark index and track them simultaneously.
With this indicator dashboard, traders will be able to track 13 scripts simultaneously. This dashboard has following features and will help gain loads of valuable information during intraday as well as positional trading.
Information provided:
1] Traders will be able to track 13 scripts of their choice and get real time Buy/Sell Signals
2] Traders will be able to chose the timeframe of their choice by changing the setting called "Timeframe" OR keep the timeframe as that on the chart by keeping the Timeframe = "Chart".
3] Traders will be able to adjust the thickness of the Moving Averages Plotted on the Chart
4] Traders will be able to select the Table position and Table Text Size.
5] For volume analysis select a separate Lookback period for Daily/Weekly/Monthly timeframes and a separate Lookback period for Intraday timeframe. You may keep both same as per your choice.
6] Plot smoothed RSI (WMA of closing price used as an input for RSI) . Default smoothing used is 5. But if you dont want to use smoothing then set it to 1 and RAW RSI will be plotted.
7] For plotting RSI select a separate Lookback period for Daily/Weekly/Monthly timeframes and a separate Lookback period for Intraday timeframe. You may keep both same as per your choice.
8] For RSI set the Overbought and Oversold Levels of your choice.
9] Similarly user will be able to set its own timeframe for calculating Elders Force Index and Commodity Channel Index, and also set the Overbought and Oversold Levels of your choice.
10] Traders will have a choice to monitor Stock Price with reference to 3 Super Trend indicators based on 3 different parameters of their choice.
11] To calculate the Relative Strength and Moving Average High/Low Bands I have used the lookback period of 55 and used RMA instead of SMA or EMAs since I found that RMAs are more reliable than SMA or EMAs.
12] To measure the relative strength of a Stock w.r.t. a Benchmark Index or a Sectoral Index, user will have to select the RS - Comparative Symbol. This Comparative Symbol (Script) will be used to measure the relative strength of all the 13 scripts.
13] Kindly note that since this Dashboard will monitor 13 scripts simultaneously it will occupy huge space on the chart, hence I have made a provision to select the number of scripts to be shown on the dashboard minimum is 1 and max is 13.
14] With this indicator you will be able to monitor the price action and following indicators.
a) Last Traded Price
b) Price Change (Between Current candle and previous candle of the selected timeframe)
c) Price Change Percentage (Between Current candle and previous candle of the selected timeframe)
d) Volume Change (Between Current candle and previous candle of the selected timeframe)
e) Volume vs. SMA(Volume) with different color shaded ranging from -ve values to 100%, 100% to 200%, 200% to 500% and more than 500%
f) If Price is above VWAP then its a Buy else its a Sell signal
g) Signals based on RSI values and its corresponding relation with Overbought and Oversold Levels -such as Bullish, Bearish, Long Unwinding, Short Covering, Long Buildup, Short Buildup, Neutral levels
h) 3 Supertrend Indicators
i) Central Pivot Range (Calculated on a Daily Timeframe) - If LTP > CPR = Bullish, LTV < CPR = Bearish else Neutral
j) Elders Force Index - If EFI > 0 Buy if EFI < 0 Sell
k) Signals based on CCI values and its corresponding relation with Overbought and Oversold Levels -such as Bullish, Bearish, Long Unwinding, Short Covering, Long Buildup, Short Buildup, Neutral levels
l) Moving Average Envelop of 55 RMA calculated on Highs and Lows. If Low > Upperband = Bullish, if High < Lowerband = Bearish else Neutral
m) Relative Strength (RS). If RS of a Script in comparison to the Comparative Symbol is positive then it will shown in Green else it will be shown in Red color.
Kindly note that for Index scripts have got no volume so all indicators (Volume, SMA(Volume), VWAP and EFI) which require Volume as an Input parameter will be shown in Gray color because there is no volume data available to calculate these Indicator values and determine whether the Index is in Bullish Territory or in Bearish territory.
I hope you would enjoy using this indicator and it will act as a light house in your trading journey.
Warm regards
Rahul Desai
@Artharjan
RSI/RSX QQE Histogram w/ Discontinued Signal Line [Loxx]QQE Histogram w/ Discontinued Signal Line is a run-of-the-mill Qualitative Quantitative Estimation (QQE) calculation but with a signal line to better filter and identify trends. The thicker white line is the QSL and appears as a simple EMA. The two thin white lines are the fast and slow trends. The histogram changes color based on the DSL levels. This version of QQE also includes two different versions of RSI: Wilders and Jurik's RSX.
What is Qualitative Quantitative Estimation (QQE)?
The Qualitative Quantitative Estimation (QQE) indicator works like a smoother version of the popular Relative Strength Index ( RSI ) indicator. QQE expands on RSI by adding two volatility based trailing stop lines. These trailing stop lines are composed of a fast and a slow moving Average True Range (ATR).
What is Wilders' RSI?
The Relative Strength Index (RSI) is a well versed momentum based oscillator which is used to measure the speed (velocity) as well as the change (magnitude) of directional price movements. Essentially RSI , when graphed, provides a visual mean to monitor both the current, as well as historical, strength and weakness of a particular market. The strength or weakness is based on closing prices over the duration of a specified trading period creating a reliable metric of price and momentum changes. Given the popularity of cash settled instruments (stock indexes) and leveraged financial products (the entire field of derivatives); RSI has proven to be a viable indicator of price movements.
What is RSX?
RSI is a very popular technical indicator, because it takes into consideration market speed, direction and trend uniformity. However, the its widely criticized drawback is its noisy (jittery) appearance. The Jurk RSX retains all the useful features of RSI , but with one important exception: the noise is gone with no added lag.
There are many indicators for many purposes. Some of them are complex and some are comparatively easy to handle. The QQE indicator is a really useful analytical tool and one of the most accurate indicators. It offers numerous strategies for using the buy and sell signals. Essentially, it can help detect trend reversal and enter the trade at the most optimal positions.
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