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Two EMA's crossing w/ TRIX & ADX/DI & EMA@RSI filteringThe initial idea for the "X-candle" script is from @nmike, and the requirement was to mark the bar with positive or negative as EMA(5) and EMA(13) cross. Later, it was requested to filter the above with Trix(3) so it just crosses the "zero" line and goes in either positive or negative territory - confirming the EMA's crossing. In addition, one of my ideas was to integrate 2 more rules, and the final looked something like this ... The script marks the candle vertical background with green or red when all 4 rules are satisfied: 1. Between the current and previous bar has to be a cross of the EMA lines (by default: EMA 5 and EMA 13) 2. The current bar is the first or second bar crossing the zero TRIX line ... going in either Positive or Negative range, confirming the first rule 3. ADX is above threshold 25 & DI is also valid (higher than the opposite DI) ... confirming trend direction and strength 4. EMA(21) on top of RSI(13), one of my favorites, so it has to be valid also At the end the script did extensive filtering, and it does filter some good ones also. Needs more work, less filtering, more tolerance, and new rules. All of the above indicator parameters can be modified easily, so anybody can play with. If you find some better indicator parameters that will provide a more efficient filtering, please let us know and drop me a note. Thanks!
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zokipoki tarafından
1
Two EMA's crossing w/ TRIX & ADX/DI & EMA@RSI filteringThe initial idea for the "X-candle" script is from @nmike, and the requirement was to mark the bar with positive or negative as EMA(5) and EMA(13) cross. Later, it was requested to filter the above with Trix(3) so it just crosses the "zero" line and goes in either positive or negative territory - confirming the EMA's crossing. In addition, one of my ideas was to integrate 2 more rules, and the final looked something like this ... The script marks the candle vertical background with green or red when all 4 rules are satisfied: 1. Between the current and previous bar has to be a cross of the EMA lines (by default: EMA 5 and EMA 13) 2. The current bar is the first or second bar crossing the zero TRIX line ... going in either Positive or Negative range, confirming the first rule 3. ADX is above threshold 25 & DI is also valid (higher than the opposite DI) ... confirming trend direction and strength 4. EMA(21) on top of RSI(13), one of my favorites, so it has to be valid also At the end the script did extensive filtering, and it does filter some good ones also. Needs more work, less filtering, more tolerance, and new rules. All of the above indicator parameters can be modified easily, so anybody can play with. If you find some better indicator parameters that will provide a more efficient filtering, please let us know and drop me a note. Thanks!
Pine Script® göstergesi
zokipoki tarafından
1
Directional Trend Index (DTI) This technique was described by William Blau in his book "Momentum, Direction and Divergence" (1995). His book focuses on three key aspects of trading: momentum, direction and divergence. Blau, who was an electrical engineer before becoming a trader, thoroughly examines the relationship between price and momentum in step-by-step examples. From this grounding, he then looks at the deficiencies in other oscillators and introduces some innovative techniques, including a fresh twist on Stochastics. On directional issues, he analyzes the intricacies of ADX and offers a unique approach to help define trending and non-trending periods. Directional Trend Index is an indicator similar to DM+ developed by Welles Wilder. The DM+ (a part of Directional Movement System which includes both DM+ and DM- indicators) indicator helps determine if a security is "trending." William Blau added to it a zeroline, relative to which the indicator is deemed positive or negative. A stable uptrend is a period when the DTI value is positive and rising, a downtrend when it is negative and falling. You can change long to short in the Input Settings Please, use it only for learning or paper trading. Do not for real trading
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HPotter tarafından
2
Directional Trend Index (DTI) Strategy This technique was described by William Blau in his book "Momentum, Direction and Divergence" (1995). His book focuses on three key aspects of trading: momentum, direction and divergence. Blau, who was an electrical engineer before becoming a trader, thoroughly examines the relationship between price and momentum in step-by-step examples. From this grounding, he then looks at the deficiencies in other oscillators and introduces some innovative techniques, including a fresh twist on Stochastics. On directional issues, he analyzes the intricacies of ADX and offers a unique approach to help define trending and non-trending periods. Directional Trend Index is an indicator similar to DM+ developed by Welles Wilder. The DM+ (a part of Directional Movement System which includes both DM+ and DM- indicators) indicator helps determine if a security is "trending." William Blau added to it a zeroline, relative to which the indicator is deemed positive or negative. A stable uptrend is a period when the DTI value is positive and rising, a downtrend when it is negative and falling.
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HPotter tarafından
1
Indicators: Chartmill Value Indicator & Random Walk IndexChartMill Value Indicator & Modified ChartMill Value Indicator : ------------------------------- Developed by Dirk Vandycke, CVI tracks how far the price spread is from its MA. Since MA keeps increasing even when price consolidates or stalls, it is very difficult for the deviation from a moving average to remain in the overbought or oversold regions for extended periods, which represents a significant improvement over other oscillators such as the RSI and Stochastic indicators. However, a simple price spread from a moving average would not be comparable across all securities, which would preclude us from using the spread in systematic strategies. Fortunately, Mr.Vandycke addresses this problem by dividing the spread by the average true range, which is dependent on both the price level and volatility of the underlying security. There is a variation of CVI called Modified CVI, which does time normalization of ATR (not the MA). This indicator supports displaying "Modified CVI" too. Check the options page. This indicator is best used with other oscillators, to confirm signals. Zero line (in this case, "1" line since the gray line is drawn at the value of 1) crossovers should also be considered as signals. I suggest tuning the OB/OS levels to match your instrument (usually it is around 0.5/-0.5 range). More info: www.traders.com Random Walk Index ------------------------- RWI is used to determine if an issue is trending or in a random trading range (like ADX/Aroon). It attempts to do this by first determining an issue's trading range. The next step is to calculate a series of RWI indexes for the maximum look-back period. The largest index move in relation to a random walk is used as today's index. Michael Poulos, inventor of RWI, recommends 2 to 7 for the short-term time frames and 8-64 for long terms. An issue is trending higher if the long term RWI of highs is greater than 1, while a downtrend is indicated if the long term RWI of lows is greater than 1. Below are some more rules developed by Mr.Poulos: - Enter a long (or close short) when the long-term RWI of the highs is greater than 1 and the short-term RWI of lows peaks above 1 - Enter short (or close long) when the long-term RWI of the lows is greater than 1 and the short-term RWI of highs peaks above 1 More info: - tradingsim.com For displaying only the histogram (as shown in the bottom pane), select "ShowOnlyHistogram" in the options page.
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LazyBear tarafından
5
Trend Strength & Direction📌 Assumptions of the "Trend Strength & Direction" Model This model is designed to measure both trend strength and trend direction, using a modified version of the ADX (Average Directional Index) while also identifying ranging markets. Below is a detailed breakdown of all key assumptions. 1️⃣ Using ADX as the Basis for Trend Strength Why ADX? The ADX (Average Directional Index) is one of the most commonly used indicators for measuring trend strength, regardless of direction. How is it calculated? ATR (Average True Range) is used to normalize volatility. Directional movement (+DM and -DM) is smoothed with an Exponential Moving Average (EMA) to obtain the +DI (Positive Directional Indicator) and -DI (Negative Directional Indicator). Trend strength is derived by normalizing the absolute difference between +DI and -DI, divided by the sum of both. 🔹 Assumption: A high ADX means the trend is strong (whether bullish or bearish). 2️⃣ 50-Period Moving Average for Trend Strength Why add a moving average? ADX can be very volatile in the short term. A 50-period SMA (Simple Moving Average) is used to smooth out trend strength and identify sustained trends. 🔹 Assumption: The SMA reduces false signals caused by short-term ADX spikes. 3️⃣ Identifying a Ranging Market (ADX Below 35) How is a ranging market defined? If the trend strength (ADX) is below 35, the market is considered "ranging". The 35-level threshold is chosen empirically since ADX values below this level often indicate a lack of strong price direction. When the market is ranging, the background color turns yellow. 🔹 Assumption: ADX < 35 indicates a sideways market, so the indicator colors the background yellow. 4️⃣ Determining Trend Direction Using +DI and -DI How is direction determined? If +DI > -DI, the trend is bullish (green). If -DI > +DI, the trend is bearish (red). If ADX is below 35, the market is ranging and turns yellow. 🔹 Assumption: Trend direction is determined by the relationship between +DI and -DI, not ADX values. 5️⃣ Background Color to Highlight Market Conditions Yellow background if ADX < 35 → Ranging market. Green background if ADX ≥ 35 and bullish. Red background if ADX ≥ 35 and bearish. 🔹 Assumption: The background color visually differentiates trending vs. ranging phases. 6️⃣ Reference Levels for ADX Lateral Threshold (35) → Below this, the trend is weak or ranging. Neutral Threshold (50) → Intermediate level indicating moderate trend strength. Strong Trend Threshold (75) → Above this, the trend is very strong and possibly overextended. 🔹 Assumption: ADX above 75 indicates a very strong trend, potentially near exhaustion. 🔹 Summary of Key Assumptions 1️⃣ ADX is the core strength metric → Strong trends when ADX > 35, weak below 35. 2️⃣ The 50-period SMA smooths out volatility → Prevents false signals. 3️⃣ Ranging markets are defined as ADX < 35 → Yellow background color. 4️⃣ Trend direction is based on +DI vs. -DI → Green = bullish, Red = bearish. 5️⃣ Background colors enhance readability → Helps distinguish different market phases. 6️⃣ ADX reference levels (35, 50, 75) indicate increasing trend strength. Conclusion This model combines ADX with a moving average and color-based logic to highlight trend strength, trend direction, and sideways markets. It helps traders quickly identify the best conditions for entering or exiting trades. 🚀
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andreapsoroulas21 tarafından