OPEN-SOURCE SCRIPT

Arms Index TRIN [DM]

已更新

Hello colleagues""
Here I share today Arms Index!!!
-Avalilables settings and options:
- Switcheable Index NASDAQ and S&P
- Switcheable Alerts "crossover, crossunder, change and main ones"
-Fill Color Customizables
-Signal Color Customizables
-Signal Smooth Customizable

Enjoy!!!

Arms Index (TRIN)
The Arms Index (TRIN) is a market breadth oscillator that was developed by Richard Arms. It is also known as the Trading Index, hence the abbreviation TRIN. It relates advancing and declining stocks to their respective volume flows by dividing the Advance/Decline Ratio by the volume ratio. When it rises the market is said to be weak and vice versa. The value 1 is key and crossing it generates a signal. A value above 1 indicates declining stocks have the upperhand in the volume flow and vice versa. The indicator can be used to spot overbought and oversold situations and is best used in combination with other analysis techniques.

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Minor changes

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Change Title
(Fix error advancing and declining main sources it's from NYSE New York Stock Exchange)
Added DJ Advancing and declining Values
Added combine function
Note: for smooth signals recommend set the axis with the following values +-
*1'5 upper line for fill oversell zone
*1'2 upper oversell line "for oversell alert"
*1'0 axis line ==
*0'8 lower line overbought "for overbought alert"
*0'5 lower line for fill overbought zone

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Fix signal color
Add axis tooltips notes

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Minor changes

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Added ability to toggle signal between columns and lines
Added background color when signal cross ob os lines

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Adder Comparaison Ticker
Amlifier signals *100 and *5000
Fix some notes
Fix Toggle alerts

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Minor changes
New visual options =
https://www.tradingview.com/x/xrhNPPzp/