Percent of U.S. Stocks Above VWAPThis indicator plots a line reflecting the percentage of all U.S. stocks above or below their VWAP for the given candle. Horizontal lines have been placed at 40% (oversold), 50% (mid-line), and 60% (overbought). I recommend using this indicator as a market breadth indicator when trading individual stocks. In my experience, this indicator is best utilized while trading the major indices (SPX, SPY, QQQ, IWM) or their futures (ES, NQ, RTY) in the following manner:
- When the line crosses 50%, a green or red triangle is plotted indicating the majority of market momentum has turned bullish or bearish based on price positioning vs. VWAP. Look for longs when the line is rising (green) or above 50%, or shorts when the line is falling (red) or below 50%.
- When the line is below 40%, indicator shows red shading; I would not be long anything during this period. When the line exits this level, I begin looking for long entries. This line is adjustable in the indicator settings if you prefer to use a tighter or looser oversold level.
- When the line is above 60%, indicator shows green shading; I would not be short anything during this period. When the line exits this level, I begin looking for short entries. This line is adjustable in the indicator settings if you prefer to use a tighter or looser overbought level.
This indicator uses the TradingView ticker “PCTABOVEVWAP.US”, thus it only updates during NY market hours. If trading futures, I recommend applying VWAP to your chart and using that as the level to trade against in a similar manner, along with your personal price action analysis and other indicators you find useful.
Komut dosyalarını "spy" için ara
RD Key Levels (Weekly, Daily, Previous vWAP)The RexDog Key Levels indicator plots the weekly open, daily open, and the previous day vWAP close.
These are all critical price levels (zones) to know when trading any market or instrument. These areas are also high probability reaction areas that you can trade using simple confirmation trading patterns.
First, I'll cover an overview of the indicator then I'll share general usage tips.
Weekly Open - default is white/orange. White is when price is above the weekly open. Orange is when price is below the weekly open.
Weekly High/Low - there are options to turn on the weekly high and lows. Default plot is circles. Green is the high. Red is the low.
Daily Open - default is green/red. Green is when price is above the daily open. Red is when price is below the daily open.
Previous vWAPs - aqua single lines. These are the closing price of the daily vWAPs.
Top Indicators - The triangles at the top of the chart signify is price is currently above or below the weekly open. This is helpful on lower timeframe charts (5m, 15m) to get a quick indication when price is far extended beyond the weekly open. Green triangle = above weekly open. Red triangle = below weekly open.
General Usage
Each one of these levels are important levels markets look use for continuation or failure of momentum and bias. I also find it extremely helpful to think of these levels as magnets, dual magnets. They both attract and repel price at the same time. Now you might say, how is that helpful to have opposing views at the same time? Be indifferent to direction, create your own rules on when these price zones repel or attract price, I have my own.
Here's the easiest way to use these price levels.
As price approaches one of these levels to expect a reaction. A reaction is price is going in one direction and price hits a price level zone and reacts in the opposite direction.
These are price zones, sometimes you will see a reaction right at the price but visualize these areas as zones of reaction.
A high percentage of the time when price approaches these level zones there will be a reaction. So trade the reaction .
How do you do that?
Simple. Trade patterns that repeat. I have 3 solid patterns I trade around these key levels:
The first pattern is early entry with precise scale in rules and a very effective protective stop loss placement.
The second pattern is wait for confirmation that the level holds. This requires more patience and for you to fully trust the chart. The benefit of this pattern is with confirmation you have even more precise stop placement.
There is a bonus third pattern I trade around these levels. I call this the confirmation and bluff entry. It's a combination of both of the patterns above. You wait for confirmation but on any pull back you call the bluff on the market and enter on key test. Trade management here is critical. In addition to the pattern you trade you should have a series of failure patterns that tell you to get out of the trade, I use 2 primary failure patterns.
I trade all markets, same system, same rules, so I'll show a few examples.
Usually I start with Bitcoin but let's start with equities:
BA - Boeing - 8 Trades
Here we see weekly low patterns, previous week low test, vwAP hold patterns, day magnets and day holding. Then 2 week failures and a double hold pattern.
These are all straightforward trades to execute following really simple patterns.
BTCUSD Previous vWAP and Day Open Trades
We see here on the circle areas both daily open and previous day vWAP zone tests. Within this chart are all 3 highly effective patterns I trade.
SPY - 7 High Probability Trades
Here we see a pDay vWAP mixed with a daily failure. Next a daily retest, then a pDay vWAP failure, then a vWAP capture and test. Then a double weekly failure test (great trade there) and finally a daily test.
I could provide more examples but most are just derivatives of the above examples.
ADD 2This is a modification to the original ADD script by Tom1trader
I added the option to choose the timeframe, moving average type and length.
Note from the original script:
"This is the NYSE Advancers - decliners which the SPX pretty much follows. You can chart it like any index (ADD -NYSE $ADV MINUS $DECL) but I find it more useful in a separate panel with colors for direction.
The level gives an idea of days move (example: plus or minus 500 is not much movement through the session) but I follow the direction as when more stocks advance (green) or decline (red) the index tends to track it pretty closely.
On SPX , SPY and correlates - very useful for intra-day trading (Scalping or 0DTE option trades) but not for higher time frames at all. If you chart the ADD in a chart and compare 5 minute to daily you will see what I mean."
[TTI] Minervini Envelopes––––History & Credit
This is an indicator that I saw Mark Minervini using. Picture attached to the Session he showed it.
–––––What it does
The indicator is a Envelopes band. Envelopes represent bands that are plotted in a certain, identical relationship above and below the Moving Average. Envelopes are a very complex theme with many interpretation and trading rules. Basically, envelopes capture a significant part of price movements. Concrete trading signals are released if prices approach or move away form their envelope.
Envelopes are plotted around a Moving Average in a constant percentage distance. Hence they are added to or subtracted from this average. Both envelope lines thus define the prevailing trading range.
–––––How to use it
While several different trading rules are available, the most simple approach uses the price band as an entry and exit point. When price penetrates the upper price band, you initiate a long position or buy. If you have an existing short position, you close out shorts and go long. Conversely, when prices penetrate the lower price band, you close out long positions and go short.
–––––How to Mark Minervini uses it
He applies it to the SPY ONLY and ONLY on WEEKLY! When the price action is above the Envelope then he is in his long term portfolio (he disclaimed it is only a small portfolio for his daugther!)
Stock Data Table█ OVERVIEW
This is a table that shows some information about stocks. It is divided into four sections:
1) Correlation
2) Shares
3) Daily Data
4) Extended Session Data
The table is completely modular, which means you can add or remove each element from the settings menu, and it will automatically rearrange its spaces.
It is also highly customizable, to the extent that you can change almost any color, remove or change titles, invert section rows, and much more.
1) Correlation
The script checks if the stock is listed on NASDAQ, and if so, uses the QQQ (Nasdaq-100 ETF) as the reference index in the first cell; otherwise, it uses the SPY (S&P 500 ETF). The length of the correlation is shown in the second cell. The table then displays the correlation between the reference index and the other index, and the correlation between the reference index and the stock.
To make it easier to interpret the correlation values, each row's last cell is color-coded with a gradient to highlight the type of correlation, and the direction of the gradient can be customized.
The correlation coefficient is a statistical measure that quantifies the strength and direction of the relationship between two variables, indicating how changes in one variable are associated with changes in the other variable, so it can be used to identify patterns and trends.
If you are interested in correlation, I suggest taking a look at my dedicated indicator:
2) Shares
This feature provides you with quick access to key information about shares and market capitalization.
On one row, you can view the total shares outstanding and the market capitalization for the fiscal year or the quarterly year. The total shares outstanding represents the total number of shares of the stock that have been issued and are currently outstanding, regardless of whether they are held by insiders or public investors. The market capitalization is a widely used measure of the company's value as determined by the stock market, calculated by multiplying its current stock price with the total number of outstanding shares.
The other row shows the float, which is the number of shares of a company that are available for public trading, and the corresponding free-float market cap, calculated by multiplying the company's current stock price with the float. Because Pine Script does not allow retrieving information about quarterly year float, you can view the float and the free-float market cap of the fiscal year only. The data can be displayed at all times or only when the difference between the total shares outstanding and the float is significant enough to result in a difference between the market cap and free-float market cap.
The classification for market cap and free-float market cap is set in this way:
Mega Cap: $200 billion or more
Large Cap: between $10 billion and $200 billion
Mid Cap: between $2 billion and $10 billion
Small Cap: between $300 million and $2 billion
Micro Cap: less than $300 million
Penny Stocks: less than $5 (customizable)
Comparing the free-float market cap to the market cap can provide insights into the liquidity of a stock. In fact, if the float is relatively small compared to the total shares outstanding, it may be more difficult to find buyers or sellers, which could lead to increased volatility. On the other hand, a larger float indicates that the stock is more liquid and may be easier to trade, potentially resulting in lower volatility. However, market conditions can change quickly and significantly, especially for intraday traders, and the free-float can also change as insiders or other large shareholders buy or sell shares. Therefore, comparing the data of the fiscal year with that of the quarterly year may not provide the most up-to-date and accurate information for making trading decisions. This limitation can be mitigated by combining those data with other indicators and tools, such as technical analysis or news events, to gain a better understand of the stock's performance and potential trading opportunities.
3) Daily Data
This section is available on daily charts only due to the lack of accuracy of real-time daily data on other time frames. Here, you can view the Average Daily Volume (ADV) over a preferred time range (20 days by default), and the Daily Change, which represents the percentage difference between the closing price on two consecutive trading days.
ADV is useful in measuring the stock's volatility, as it provides an indication of how much trading activity there is in it. Generally speaking, stocks with higher trading volume tend to be less volatile than stocks with lower trading volume. High trading volume means there are more buyers and sellers actively trading the stock, which makes it easier for investors to buy and sell shares at fair prices. This increased liquidity can help to stabilize the stock price, reducing the potential for large swings in either direction. On the other hand, stocks with lower trading volume may experience greater volatility, as there are fewer buyers and sellers actively trading the stock. This can result in larger price swings, as it may be more difficult for investors to buy or sell shares at fair prices.
The daily percentage change can provide an indication of the stock's volatility, with larger values indicating greater volatility and risk. It can also be compared to that of a benchmark such an index or other stocks in the same sector, helping to determine whether the stock is outperforming or underperforming relative to them.
4) Extended Session Data
The fourth section is available on intraday charts only. This section provides two pieces of information: the Extended Session Change and the Pre-Market Volume.
The Extended Session Change indicates the percentage difference between the previous day's closing price and the latest price in the extended session. This gives you the extent and the direction of the price gap that occurred during extended trading hours.
The Pre-Market Volume shows the sum of all shares traded during the pre-market session. This can be helpful in understanding how much interest the stock gained before the market opened.
By default, the two rows will be visible at all times. They will stop updating after the end of their respective time range, and resume updating when it starts again. However, you can choose to automatically hide them outside of their time ranges.
Both the extended session and pre-market time ranges can be customized. Please note that if you select time ranges outside of the regular market session (as set by default), you must enable the extended session to view the corresponding rows.
█ GENERAL NOTES
• Total Shares Outstanding, Float, Average Daily Volume and Pre-Market Volume cells use a customizable color system based on two thresholds, to help you quickly identify whether the value is "too low/acceptable/too high" or "too low/not enough high/acceptable".
• If you cannot see certain data, that simply means it is not available.
Jerry J8 MACD Optimal Entry Zone---- STRATEGY
This MACD indicator includes an optimal entry zone for entering your trades and works with any symbol in any time frame. The optimal entry zone is defined by user controlled inputs for up to 10 symbols and is pre-loaded with the SPY, IWM, QQQ, NDX, and TESLA for the 3 minute time frame. Additionally, you can add up to 5 more symbols and adjust the optimal entry zones for each signal.
The optimal entry zone is the range above and below the MACD zero line where the highest probability trades can be entered. Too far above or below the zero line and the move is more likely to be exhausted or premature. This is not an exact science and you will want to set the zone for each symbol on the chart time frame you trade.
The reason this indicator is so helpful is because the optimal entry zone changes for every symbol and for every time frame and this indicator automatically shows these zones for up to 10 stock symbols.
---- SETUP & HINTS
There are times when the MACD may be outside of the optimal range but due to other factors (for example, high volume or market moving news) I would choose to enter a trade.
Indicators are not a magic pill and should be used to support trading decisions, not to make them for you. Past performance is not a guarantee of future returns. The results of individual stocks/indexes with any strategy do not constitute proof they will repeat in the future.
DISCLAIMER: The information contained in our scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. Trading and investing in the stock market and cryptocurrencies involves substantial risk of loss and is not suitable for every investor. I’m NOT a financial adviser. All trading strategies are used at your own risk.
Please use the AUTHOR’s INSTRUCTIONS link below for more information.
Stock Relative Strength Power IndexAs always, this is not financial advice and use at your own risk. Trading is risky and can cost you significant sums of money if you are not careful. Make sure you always have a proper entry and exit plan that includes defining your risk before you enter a trade.
This idea recently came out of some discussions I stumbled across in a trading group I am a part of regarding Relative Strength and Relative Weakness (shortened to RS and RW from here on out). The whole mechanism behind this trading system is to filter out underperforming securities relative to the current market direction to be in only the strongest or weakest stocks when the market is currently experiencing a bullish or bearish cycle. The idea behind this is there is no point in parking your money into a stock that is treading water or even going down if the market is making strong moves upwards. At that point, you are at worst losing money, and at best trading equal to the index/ETF, in which case the argument is why are you not just trading the index/ETF instead? RS or RW will filter out these sector laggards and allow you to position yourself into strong (or the strongest) stocks at any given time to help improve portfolio performance. Further, not only does it protect your position should the market shift against you briefly, it also often sees exceptional performance in the same cycle. For example, if $SPY makes a 5% move over the course of a month, a stock with RS/RW may make a 10% move, or more, allowing you to see increased profit potential.
RS/RW is based on the idea of performance, that is the raw percent change of a security over a given time period relative to a benchmark. This benchmark is often the S&P500 (ES/SPX/SPY and their derivatives). I have to stress that this is not beta, which measures the volatility of a stock over a given period (i.e. if $SPY moves $1, $NVDA will often move $1.74). This is a measurement of the market (i.e. $SPY) has moved 1% over the course of a day, $NVDA has moved 8% over the course of the day. This is very often used as a signal of institutional interest as apart from some very unique moments, retail traders cannot and will not provide enough market pressure to move a market outside of a stock's normal trading range, nor will they outperform the sector or market as a whole consistently over time without some big money to make them move. The problem with running strict performance analysis (i.e. % change from period T ago to period T + n at present) is that while it gives us a baseline of how much the stock has moved, it doesn't overall mean much. For instance, if a $100 stock has moved 5% today, but has been experiencing a period of increased volatility and it's Average True Range (ATR) (the amount a stock will move over X number of periods, on average) is $7, performance seems impressive but is actually generally fairly weak to what the stock has been doing recently. Conversely, if we take a second stock, this time worth $20, and it too has moved 5% in one day but has an ATR of only $0.25, that stock has made an exceptional move and we want to be part of that.
Here, I have created an indicator called the Stock Relative Strength Power Index. This takes the stock's rate of change (ROC) (the % move it has made over X number of periods), the stock's normalized ATR (the ATR represented as a percentage instead of a raw value), and compares these to one another to get the "Power Rating": a representation of the true strength of a stock over X number of periods. The indicator does two things. First, the raw ROC is divided by the stock's normalized ATR to assess whether the stock is moving outside of its normal range of variation or not. Second, since we are interested in trading only stocks with exceptional RS/RW to the market, I have also applied this same calculation to the S&P500 ($SPY) and the various SPDR sector indexes. These comparisons allow for a rapid and accurate assessment of the true strength of a stock at any given time on any given time frame. To cycle back above to our examples, the $100 stock has a Power Rating of only 0.71 (i.e. it is trading less than its current average), while our $20 stock has a Power Rating of 5. If we then compare these to both the market as a whole and the sector that the stock is a part of, we get a much clearer indication of the true buying or selling pressure imposed on the stock at any given time.
Use:
The indicator has 3 lines. The blue line is the security of interest, the red line is the market baseline (i.e. the sector ETF $SPY), and the white line is the sector index. I have given an example above on the semiconductor/tech stock $NVDA on a 30min timeframe. You can see that since the start of 2023, $NVDA has generally been strong to the market and its own sector since the blue line is greater than both the red and white lines over many days. This would have provided some nice day trading opportunities, or even some nice short term swing trades. The values themselves are generally meaningless outside of either the 1 or -1 value lines. All that matters is that the current ticker is surpassing both the market and the sector while being > 1.0 for a long trade or less than -1.0 for a short trade. However, I must stress this indicator gives no trade signals on its own, it is purely a confirmation indicator. An example of a trade would be if you had a trade signal given by either an indicator or by price action suggesting to buy some $NVDA for a trade to the upside, the Power Rating indicator would confirm this by showing if $NVDA was actually showing true strength by being both greater than 1 (the cutoff for it surpassing its ATR) and being above both the red and white lines. Further, you can see $NVDA has been stronger than the market when using the comparison function as well, but the has fluxed in and out of strength intraday when using the actual indicator vs. the static performance ratio chart (plotted as line graphs on the chart).
I have made it possible to change the colour of the plots and the line levels. The adjustment of the line levels gives the trader the flexibility to change their target breakout level (i.e. only trading stocks that have a Power Rating > 2, for example, meaning they are trading at least 2X their normal trading range). The third security comparison is flexible and can be used to compare to the sector ETF (initial intention) or it can be used to compare to other tickers within the same sector, for example. The trader should select the appropriate ETF for the given security of interest to avoid false confirmation if they want to use an ETF as their third input. The proper sector should be readily available on most online websites and accessible in a matter of seconds meaning that the delay is minimal, at worst. If a trader wishes to add additional functionality, such as a crypto trader using BTCUSD as the benchmark instead of $SPY, I encourage them to copy and paste this script and modify as needed since I have made this open source.
This indicator works on all timeframes. The lookback period can be changed, so a day trader who may use a 5min chart (and use a period of 12 to get the hourly Power Rating) will find this equally useful as someone who may be a core trader who wants to look at the performance over the course of years and may use a 60 period on a monthly chart.
Happy trading and I hope this helps!
VIX OscillatorThis is my VIX Oscillator indicator.
About it:
This indicator takes the Z-Score of the VIX and of the current ticker you are on and presents them in the format of an oscillator.
Key parts of the indicator:
A diagram of the key elements of the indicator are displayed above.
Purple Line: Represents the Z-Score of the current Ticker.
Blue Line: Represents the Z-Score of the VIX
Green fill line: Represents bullish divergence
Red fill line: Represents bearish divergence
How to use it:
Characteristics for long entries:
- Look for recent bullish divergence (green fill line)
- Look for the ticker line (purple line) to be holding above 0 (neutrality)
- look for a bullish cross (purple line (ticker) crossing over blue line (VIX))
Characteristics for short entries:
- Look for recent Bearish divergence
- Look for the VIX line (blue line) to be holding above 0 and the Ticker
- Look for the ticker line to be holding below 0
- Look for a bearish cross (blue crossing above purple)
Some principles:
The bands represent oversold, overbought and neutral.
0 is absolute neutrality. No bias here.
Anything towards + 2.5 is considered normal, moving towards overbought (2.5 or higher).
Anything towards -2.5 is considered normal, moving towards oversold (-2.5 or lower).
+2.5 or higher is overbought.
-2.5 or lower is oversold.
As always, I have prepared a quick tutorial video for your reference of this indicator:
Please let me know your questions, comments or suggestions about this indicator below.
Thank you for checking it out!
Channel Lookback: Average Moving Price (CLAMP)How it works
This is a confirmation indicator based on moving averages. It compares the current price to a previous candle N periods ago, then smooths the result.
What makes this indicator novel is that it takes the smoothed curve and compares it to the previous value to see whether the slope is increasing or decreasing. Combined with a zero-cross baseline channel, we can compare the relative position of the curve, slope, or closing price to create entry signals. There are several hardcoded conditions that it checks, but this is easily changed.
Markets
The default values are best used on the SPY daily chart. With backtesting, it seemed to perform fairly well during the last year. It seems to be more accurate during choppy/bear markets, and very inaccurate during a trending market.
Eg, if you look at the period of growth that occurred during 2020, it basically said to keep shorting for months at a time. Not good. If you look at other markets (such as gold or uranium), it worked, but only if you inversed what the signal told you to do (eg going long when it says to go short). This is something you will have to test yourself, since every system and market is different. Please don't use this indicator by itself.
How to use
When combined with other indicators, this tells you whether to go long (green), go short (red), or no trade (gray). It is meant to be used as a confirmation indicator, so it will help verify other trade signals.
You can sometimes ignore the first grey circle and reuse the previous colored signal. There are a few markets (such as gold) I noticed this was helpful on; this will depend on your own trade rules and indicator system.
If you enable "simple mode" on the settings, it will draw only the final signal (long, short, no signal). I included this because it helps to reduce visual clutter.
Morning Option Pullback IndicatorI designed this indicator to help me identify Option CALL and PUT signals for the QQQ and SPY on the 1 min chart.
Summary of how it works
1. It identifies the Pre-Market channel High and Low and draws green and red lines for the day at these levels.
2. Waits for a morning or afternoon sessions breakout/breakdown of price out of that channel.
3. The buy a CALL or PUT signal is when price pulls back to the EMA Medium line after breaking out of the channel.
4. Settings allow adjusting of when the signal happens
5. EMA Short (5) and EMA Medium (20) must stay apart for a selectable number of bars
6. For a CALL signal, the Price and EMA Medium (20) must be above the Pre Market High line when price pulls back to EMA Medium (20) line
7. There is a selectable adjustment to allow the signal to trigger when the price comes within a close enough range of the EMA Medium and PM High lines
8. There is a TICK.US filter that you can use to only signal a CALL when the TICK.US 10 min chart shows the average of the EMA5 and EMA20 is over 100
9. It has Buy and Sell signal Alerts and user adjustable Stop Loss and Profit Taker settings.
10. EMA Settings are adjustable and can show up to 3 EMA's on the chart. I personally like the EMA5 and 20. Others may use something similar like 9 and 21. It's user selectable.
[GTH] Minervini++ (Minervini's trend template, augmented)This indicator summarizes many of famous trader Mark Minervini's investment criteria into one (hopefully) easy to read indicator.
It is comprised of two general sections: technical and fundamental.
Within the technical section there are 4/5 groups:
(1) Price location (above SMA 50/150/200). Optional: EMA 21
(2) SMAs sequence (SMA 50 above SMA 150 above SMA 200). Optional: EMA 21
(3) SMAs trending, based on a 21 day lookback (adjustable). Optional: EMA 21
(4) Price range (between 25% above 52W low and 25% below 52W high, adjustable)
(5) Optional: Relative Strength (MarketSmith style) in comparison to the SPY (adjustable). Disabled by default, since I personally don't find it very meaningful.
Within the fundamental section there are three groups:
(1) EPS growth over 4 quarters (adjustable), average growth over before mentioned number of quarters, growth acceleration over the same
(2) Revenue, same as for EPS
(3) Net Profit Margin, same as for EPS
There is a "LED" in front of every criterion. If fulfilled it's green, otherwise red. The horizontal "LED strips" summarize the results in a sorted manner, from left to right: green, yellow, red.
The indicator also plots the (EMA 21)/SMA 50/150/200 lines used by Minervini by default (can be disabled). The location on the screen can be chosen, as well as the text size. By default the 52W high/low lines are plotted as well (can be disabled).
Notes:
Although the calculations and values displayed at the right border are based on internally retrieved daily price data and should therefore be independent from the chart's time frame, at times some figures change when a different timeframe is selected.
On rare occasions the indicator is not displayed, but appears after reloading the chart.
BullBarbie's Automagical Psych Levels v1.1This indicator does one thing (and it does it extremely well)...
Automatically plot levels at a set a set interval in a set range to create psychological levels on your chart.
There are 3 Options:
1) The price range in which you'd like to plot these level lines
2) The interval (price range) between the levels
3) The color/style you'd like the line to by
No nonsense, just KISS: Keep It Simple, Silly.
I created this script to easily add psychological (psych) levels to my most watched charts, especially the Indexes such as SPX, SPY, QQQ... I hope you enjoy it.
BullBarbie's TICK Companion v1.2For use on a TICK Index chart. Intended for 5 minute intraday chart
There are approximately 2800 tickers on the New York Stock Exchange. The TICK index (ticker TICK) compares the number of stocks rising to the number of sticks falling. A perfect harmony of rising vs falling stocks would read "0" (zero) on the TICK index. A rising TICK reading will indicate that more stocks are gaining value so we might expect indexes like the S&P 500 (SPY, SPX, ES) to also be rising. An extremely high reading is often not sustainable and can indicate a reversal. Conversely, a low TICK reading indicates more stocks losing value and therefore likely indexes following suit; however, this is only sustainable for so long. When persistently high or low TICK readings are not reflected in price action, this can also clue traders in that a reversal or breakthrough could be likely. The TICK index is one of many popular "market internals" used by the best professional traders out there.
This indicator has several features:
* Candles are color coded (and customizable). Out of the box, moderate/neutral TICK readings have muted red and green candles intended to not catch your eye. When TICKS are elevated in either direction (bid or ask), a bolder color candle serves as a warning. Beyond that, a 3rd level of "extreme" TICK readings create brightly colored, eye-catching candles. Colors and levels are adjustable.
* Level Zones come programed with colored backgrounds and level lines to indicate when candles are exceeding high/low and extreme readings. All colors, brightnesses, and levels can be customized or turned off completely if you'd prefer.
* A build-in color-changing EMA can be set to any period. When the EMA hits an extreme level, the color changes to bright yellow. Of course you can also turn this on and off and adjust the style.
* Warning dots appear above and below more aggressive TICK candles letting you know in a highly visual way that something potentially important is going on with the TICK index. When extreme readings are sustained, large warning stars appear as these levels are the most likely to result in a reversal.
Of course, use the TICK Companion as one of many tools and always consider its indications in the context of market trend, levels, news events, and other factors.
I built this indicator for the 5 min, 1 day TICK Index chart on my Dashboard chart layout where I keep my helpful market internals charts and have been asked to make it available on TradingView. I'm making it available for a small premium to cover maintaining updates & improvements.
Z-Score Buy and Sell SignalsHello everyone!
Happy Holidays, Merry/Happy Christmas!
Here is my Christmas gift to you to show my appreciation of your support and engagement over the past year!
This is the Z-Score Buy and Sell Signal indicator!
How it works:
It works by looking at the Z-Score of an equities close price and looking for previous areas over reversals over the defined period of time.
It also looks at areas that are overbought or oversold (manifested by Z-Scores greater than or less than 2 Standard Deviations away) and displays them as bar colour changes.
Historic reversals are signaled with buy and/or sell signals.
Oversold is signaled with a green bar colour change (colour can be customaized).
Overbought is signaled with an orange bar colour change.
How to use it:
You can use it with support resistance or other indicators. You can use this on both the larger and small timeframes, depending on the style of trader you are.
You can modify the input length to look back on shorter or longer periods.
As a general rule from my experience using it, if you are using the shorter timeframes (i.e. 1 minute tfs), its best to look back between 50 and 75 candles for most equities.
If you are looking at the larger timeframes (i.e. Daily, 1 to 2 hour, etc.) its best to set the input value to between 500 to 800.
But, as always, you should check to ensure the indicator is providing correct signals by reviewing the previous signals to ensure that they adequate identified reversals.
It is also best not to use this alone as your sole indicator. It is meant to be supplementary to other indicators/support resistance/chart patterns you are using to guide your trades. This will not replace good TA and a good understand of the stock and its likely trajectory.
As always, please feel free to share your comments/feedback/questions and recommendations below.
As always, I do customary tutorial videos for my indicators, so please see below for an in-depth video tutorial should you want to see it in action:
Otherwise, happy holidays everyone! And all of the best over this Christmas weekend to you and your loved ones!
FTFC Watchlist (The Strat)This indicator is a five custom ticker watchlist that shows seven pre-defined higher timeframes using '#TheStrat' technique and can be used on any ticker from common stock, forex and crypto.
Explanation of 'TheStrat' trading technique
‘TheStrat’ technique works off the basis of labelling whether the focus candle did or did not break any of the previous candles high or low values. There are three possible label definitions; either a 1 candle, 2 candle or a 3 candle.
1 bar (inside) - If price movement on the new candle remains within the high and low of previous candle.
3 bar (outside) – If price movement went above both the high and the low of the previous candle.
2 bar (directional) – If price movement only broke with the high (called a 2-up) or if price movement only broke the low of the previous candle (called a 2-down).
Once labelled the technique then looks for certain combination of these labelled candles (called actionable setups) such as: 2-1-2, 1-2-2, 3-1-2.
What is Full Time Frame Continuity (FTFC)
Under 'The Strat' full timeframe continuity is limited to the colour (open vs close) of the candle being either green or red. When higher timeframe align with the 'same colour' is suggest that there is stronger support for that direction of the candle.
How does the indicator work?
The indicator will allow you to daily enter up to 5 watchlist tickers and in as close to real time (slight lag) show the developing FTFC of your watchlist tickers and avoids having to switch chart tickers to see the developing timeframe continuity
Example of how to use the indicator
A simple example will be the relationship between SPY and VIX and by having the higher timeframe overview of these two watchlist tickers while trading will give potential insights to how the market is trading overall.
Some people might also find it useful to see 'consolidation' (1 bar) and 'expansion' (3 bar) highlighted in the timeframe. This feature can be enabled in the settings.
Indicator caveats:
= Must run on 5min (or lower) chart timeframe. If not indicator will produce 'runtime error'.
= Weekly computation is not 100% reliable due to bug in TV when a month end occurs mid week.
= Please change the indicator colour if used on a non-dark theme.
= Please note this information is only presented for educational and learning purposes. It is by no means financial advice or provide any form of trading signals.
TO ENABLE , please follow these steps:
1) Add indicator to your chart and open settings
2) Enter which tickers (max 5) you wish to add to your watchlist by enabling the checkbox
3) Decide on the timeframes you wish to view
4) Configure the colouring of the watchlist.
Hope this indicator provides useful and educational information and helps to improve your overall access to information.
Market Breadth - Primary IndicatorMarket Breath is the equilibrium between number of stocks in advance to those in a decline, in other words a method to determine the current market environment. In a positive phase bullish setups will have improved probabilities and presence, whereas in a bearish phase the opposite would be true.
The primary indicator measure the trend in SPY and correlation between different EMA's.
- Green Columns: Positive Breadth
- Red Columns: Negative Breadth
This indicator can be combined with the secondary breadth indicator to further note excessive movement and risk of mean reversion.
ZenBot Signals - Trend StrengthI developed this indicator as a "regime detection" for my algo trading bot. It uses the ADX +/- values with a few twists.
- If ADX DI+ is over 30 and DI- is below 20 and falling (inverse for shorts)
- Price action rising/falling thru various VWAP standard deviations indicates a strong trend break
- Some other custom juju (open source so have fun).
I use this primarily to monitor the SPY index as a backdrop for my long and short trades. If the colored line below price bars is red or green, a strong trend is present and there is a decent trade environment.
Beta ScreenerThis script allows you to screen up to 38 symbols for their beta. It also allows you to compare the list to not only SPY but also CRYPTO10! Features include custom time frame and custom colors.
Here is a refresher on what beta is:
Beta (β) is a measure of the volatility—or systematic risk—of a security or portfolio compared to the market as a whole (usually the S&P 500 ). Stocks with betas higher than 1.0 can be interpreted as more volatile than the S&P 500 .
Beta is used in the capital asset pricing model (CAPM), which describes the relationship between systematic risk and expected return for assets (usually stocks). CAPM is widely used as a method for pricing risky securities and for generating estimates of the expected returns of assets, considering both the risk of those assets and the cost of capital.
How Beta Works
A beta coefficient can measure the volatility of an individual stock compared to the systematic risk of the entire market. In statistical terms, beta represents the slope of the line through a regression of data points. In finance, each of these data points represents an individual stock's returns against those of the market as a whole.
Beta effectively describes the activity of a security's returns as it responds to swings in the market. A security's beta is calculated by dividing the product of the covariance of the security's returns and the market's returns by the variance of the market's returns over a specified period.
cov (a,b)/var(b)
Volatility Inverse Correlation CandleThis is an educational tool that can help you find direct or inverse relations between two assets.
In this case I am using VIX and SPX .
The way it works is the next one :
So I am looking at the current open value of VIX in comparison with the previous close ( if it either above or below) and after on the SPX I am looking into the history and see for example which type of candle we had in respect with the opening value from VIX .
So for example, lets imagine that today is monday, and the weekly open value from VIX was higher than previous friday close value. Now I am going to see with the inverse correlation , if based on this idea, the current weekly candle from SPX finished in a bear candle.
The same can be applied for the bearish situation, so if we had an open from VIX lower than previous close, we are looking to check the SPX bull candle accuracy.
At the same time, for a different type of calculation I have added an internal lookup into heikin ashi values.
If you have any questions please let me know !
Newzage - Fed Net LiquidityThe Fed Net Liquidity indicator is a concept discovered by Max Anderson to calculate the fair value of SPX (S&P 500 Index).
The formula he shared on Twitter uses the Fed Balance Sheet, TGA (Treasury General Account), and Reverse Repo.
Net Liquidity = Fed Balance Sheet - (TGA + Reverse Repo)
The data for each component above is accessible on the FRED website.
Fed Balance Sheet fred.stlouisfed.org
Treasury General Account (TGA) fred.stlouisfed.org
Reverse Repo fred.stlouisfed.org
This script uses net liquidity (NL) fair value calculation for SPX, then estimates entry and next target exit target for both long and short trades on SPY.
The script added RSI oversold/overbought signal to the original NL signal from Max... improving the "precision" of the buy/sell signals.
The script also uses RSI to estimate targets based on how overbought or oversold the index/SPY is.
Fed Net Liquidity Indicator v2Updated script for jlb05013's original Fed Net Liquidity Indicator. TradingView was bringing in the FRED data in different units than they used to. This code fixes it.
This indicator aims to present a "Net Liquidity" indicator comprised of the Fed Balance sheet , less the TGA account and Overnight Reverse REPO agreements.
Net Liquidity = Fed Balance Sheet - ( TGA + Reverse REPO)
This is an overlay that can be added to stock or other charts (like SPY ) to see how the market may appear correlated to Net Liquidity - injection of liquidity into the markets.
This was hypothesized by Max Anderson, this is just a script realizing that posting.
New updates include a resolution feature, and an option to offset backwards by 2 days per original intent.
Market Beta/Beta Coefficient for CAPM [Loxx]Market Beta/Beta Coefficient for CAPM is not so much an indicator as it is a value to be used in future indicators to forecast stock prices using the Capital Asset Pricing Model, CAPM. CAPM is used by the likes of value investors such as Warren Buffet and valuation/accounting/investment banking firms. More specifically, CAPM is typically used in Discounted Cashflow Analysis to value revenue generating assets.
What is Beta?
In finance, the beta (β or market beta or beta coefficient) is a measure of how an individual asset moves (on average) when the overall stock market increases or decreases. Thus, beta is a useful measure of the contribution of an individual asset to the risk of the market portfolio when it is added in small quantity. Thus, beta is referred to as an asset's non-diversifiable risk, its systematic risk, market risk, or hedge ratio. Beta is not a measure of idiosyncratic risk.
By definition, the value-weighted average of all market-betas of all investable assets with respect to the value-weighted market index is 1. If an asset has a beta above (below) 1, it indicates that its return moves more (less) than 1-to-1 with the return of the market-portfolio, on average. In practice, few stocks have negative betas (tending to go up when the market goes down). Most stocks have betas between 0 and 3.
How to calculate Beta
To calculate beta you typically choose 5 years of monthly data; typically SPY is used here
Calculate log returns of both the asset for which you are calculating Beta and the benchmark market data
Calculation the covariance between the asset and benchmark
Calculate the variance of the benchmark returns
Divide the covariance by the variance
Read more here:
en.wikipedia.org(finance)
en.wikipedia.org
einvestingforbeginners.com
