Stock Tech Bot One View

2022年8月14日

Technical indicators are not limited. Hence, here is another indicator with the combination of OBV, RSI, and MACD along with support, and resistance that follows the price while honoring the moving average of 200, 90 & 50.

The default lookback period of this indicator is 21 though it is changeable as per the user's desire.

The highest high and lowest low for the last 21 days lookback period proven to be the perfect Support & Resistance as the price of particular stock values are decided by market psychology. The support and resistance lines are very important to understand the market psychology which is very well proven with price action patterns and the lines are drawn based on,

Lower Extreme = 0.1 (Changeable)

Maximum Range = 21 days highest high - 21 days lowest low.

Support Line = 21 days lowest low + (Maximum Range * Lower Extreme)

Resistance Line = 21 days highest high - (Maximum Range * Lower Extreme)

RSI - Relative strength indicator is very famous to find the market momentum within the range of 0 - 100. Though the lookback period is changeable, the 14 days lookback period is the perfect match as the momentum of market movement for the last 3 weeks will always assist to identify the market regime. Here the momentum is just to highlight the indication (green up arrow under the candle for long and red down arrow above the candle for short) of market movement though it is not very important to consider if the price of the stock respect the support & resistance lines along with volume indicator (* = violet color).

OBV - Momentum:

The on-balance volume is always going indicator on any kind of tickers, which helps to identify the buying interest. Now, applying momentum on OBV with the positive movement for at least two consecutive days gives perfect confirmation for entry. A combination of the price along with this momentum(OBV) in the chart will help us to know the whipsaw in the price.

The Symbol "*" on top of each bar shows the market interest in that particular stock. If your ticker is fundamentally strong then you can see this "*" even when the market falls.

MACD:

One of the favorites and simple indicators widely used, where the thump of the rule is not to change the length even if it is allowed. It's OK to believe blindly in certain indicator and consider it while trading. That's why the indicator changes the bar color by following the MACD histogram.

Volume:

It may be the OBV works based on the open price and close price along with volume movement, it is wise to have the volume that is plotted along with price movement that should help you to decide whether the market is greedy or fearful.

The symbol "-" on top of each bar tells you a lot and don't ignore it.

Moving Average:

Moving average is a very good trend indicator as everyone considers seeing along with the price in the chart which is not omitted while we gauge the price movement alone with volume in this indicator. The 200, 90 & 50 MA's are everyone's favorite, and the same is plotted on the chart.

As explained above, the combination of all four indicators with price movement will give us very good confidence to take entry.

Candlestick Pattern:

You should admire the techniques of the candlestick pattern as you navigate the chart from right to left. Though there are a lot of patterns that exist, it is easy to enable and disable to view the signal as the label.

Further, last but not least, the exit always depends on individual conviction and how often the individual watch the price movement, if your conviction is strong then follow the down arrow red indication. If not, then exit with a trailing stop that indicates the bar with orange color.

Happy investing

Note: It is just a combination of multiple indicators and patterns to get one holistic view. So, the credit goes to all wise developers who publically published.

2023年10月29日

版本注释

Stock Tech Bot One View is a TradingView indicator that provides a comprehensive overview of technical analysis indicators on a single chart. It includes the many features:

The indicator also includes a variety of user-configurable options, such as the ability to show or hide individual indicators, change the colors and styles of the plots, and adjust the lookback periods and other parameters.

How to use the Stock Tech Bot One View indicator

To use the Stock Tech Bot One View indicator, simply add it to your chart and configure the settings to your liking. Once the indicator is added to the chart, you will see the following plots:

Support and resistance: The support and resistance levels are plotted as horizontal lines on the chart. The support level is plotted below the current price, and the resistance level is plotted above the current price.
Moving averages: The moving averages are plotted as colored lines on the chart. The color of each line corresponds to the length and type of the moving average.
RSI: The RSI indicator is plotted as a line below the chart, with values ranging from 0 to 100.
OBVMACD: The OBVMACD indicator is plotted as two lines below the chart, one for the OBV-MACD and one for the signal line.
MACD: The MACD indicator is plotted as two lines below the chart, one for the MACD and one for the signal line.
Candlestick Patterns: The candlestick pattern included all frequently used candlestick patterns in the wider market. Each will highlight as flag as the pattern occurs in the candle which can be the potential option to use along with other indicators.

The indicator also includes a variety of other features, such as the ability to show or hide individual indicators, change the colors and styles of the plots, and adjust the lookback periods and other parameters.

How to interpret the Stock Tech Bot One View indicator

The Stock Tech Bot One View indicator can be used to identify a variety of technical analysis signals. For example, you can use the support and resistance levels to identify potential entry and exit points for trades. You can also use the moving averages to identify trends and potential reversals. The RSI and OBVMACD indicators can be used to identify overbought and oversold conditions. And the MACD indicator can be used to identify momentum and potential trend reversals. The candlestick patterns that form at the support or resistance is showing strong reversal pattern or continues of the current market trends.

Here are some specific examples of how to interpret the Stock Tech Bot One View indicator:

Support and resistance: If the price breaks below a support level, it may be a sign that the trend is reversing and that the price is likely to continue to decline. Conversely, if the price breaks above a resistance level, it may be a sign that the trend is continuing and that the price is likely to continue to rise.
Moving averages: If the price crosses above a moving average, it may be a sign that the trend is turning bullish. Conversely, if the price crosses below a moving average, it may be a sign that the trend is turning bearish.
RSI: If the RSI indicator is above 70, it may be a sign that the stock is overbought and that a pullback is likely. Conversely, if the RSI indicator is below 30, it may be a sign that the stock is oversold and that a rebound is likely.
OBVMACD: If the OBV-MACD line crosses above the signal line, it may be a sign that the trend is turning bullish. Conversely, if the OBV-MACD line crosses below the signal line, it may be a sign that the trend is turning bearish.
MACD: If the MACD line crosses above the signal line, it may be a sign that the trend is turning bullish. Conversely, if the MACD line crosses below the signal line, it may be a sign that the trend is turning bearish.

Potential Trading Signal When Moving Averages Meet at Support or Resistance Lines with RSI, MACD, and OBVMACD Confirmation

One potential trading signal is when two or more moving averages meet at a support or resistance line that forms a cluster. This can be a sign that the trend is about to reverse or that there is a strong support or resistance level at that price level.

To confirm the signal, you can look for the following:

RSI: The RSI indicator should be oversold (below 30) or overbought (above 70) depending on whether the moving averages are meeting at a support or resistance level, respectively.
MACD: The MACD indicator should be above the signal line and turning higher for a bullish signal, or below the signal line and turning lower for a bearish signal.
OBVMACD: The OBVMACD indicator should be above the signal line for a bullish signal, or below the signal line for a bearish signal.

If all of these indicators are aligned, it can be a strong signal that the trend is about to reverse. However, it is important to consider the volatility of the market before entering any trade. You can use the Average True Range (ATR) indicator to measure volatility. If the ATR is high, it means that the market is volatile and you should be more cautious about entering a trade.

Here is an example of how to use this trading signal:

Bullish Signal:

• Two or more moving averages meet at a support level that forms a cluster.
  
• The RSI indicator is oversold (below 30).
  
• The MACD indicator is above the signal line and turning higher.
  
• The OBVMACD indicator is above the signal line.
  

Bearish Signal:

• Two or more moving averages meet at a resistance level that forms a cluster.
  
• The RSI indicator is overbought (above 70).
  
• The MACD indicator is below the signal line and turning lower.
  
• The OBVMACD indicator is below the signal line.
  

Once you have identified this trading signal, you can place a buy order above the cluster of moving averages for a bullish signal, or a sell order below the cluster of moving averages for a bearish signal. You should also set a stop loss below the support level for a bullish signal, or above the resistance level for a bearish signal.

It is important to note that the Stock Tech Bot One View indicator is just one tool that you can use to analyze the markets. You should always consider other forms of analysis to make informed trading decisions.

2023年10月29日

版本注释

Version 1.1

New Features:

Added option to enable or disable the indicator as per user convenience.

Improvements:

Improved the accuracy of the support and resistance levels
Improved the performance of the indicator

Bug Fixes:

Fixed a bug that caused the OBVMACD indicator to not plot correctly
Fixed a bug that caused the indicator to not update correctly when the chart was zoomed in

Instructions:

To update your existing indicator, simply replace the code in the script editor with the code provided in this release. If you are using the indicator for the first time, simply add it to your chart as usual.

Please note: The indicator is still under development and may contain bugs. Please report any bugs that you find to the developer.

Example Trading Signal:

Bullish Signal:

Two or more moving averages meet at a support level that forms a cluster.
The RSI indicator is oversold (below 30).
The MACD indicator is above the signal line and turning higher.
The OBVMACD indicator is above the signal line.

Bearish Signal:

Two or more moving averages meet at a resistance level that forms a cluster.
The RSI indicator is overbought (above 70).
The MACD indicator is below the signal line and turning lower.
The OBVMACD indicator is below the signal line.

Once you have identified this trading signal, you can place a buy order above the cluster of moving averages for a bullish signal, or a sell order below the cluster of moving averages for a bearish signal. You should also set a stop loss below the support level for a bullish signal, or above the resistance level for a bearish signal.

Please note: This is just one trading signal and there is no guarantee of success. You should always use risk management techniques and never risk more money than you can afford to lose.