"Full Disclosure: I came across this information from SentimenTrader.com I have no financial affiliation…They provide incredible statistical facts on The General Market, Currencies, and Futures. They offer a two week free trial. I Highly Recommend.
The S&P 500 has gone 43 trading days without a 1% daily move, up or down. which is the equivalent of two months and one day in trading days.
During this stretch, the S&P has gained more than 4%, and it has notched a 52-week high recently as well.
Since 1952, there were nine other precedents. All of these went 42 trading days without a 1% move, all of them saw the S&P gain at least 4% during their streaks, and all of them saw the S&P close at a 52-week highs.
***There was consistent weakness a week later, with only three gainers, and all below +0.5%. ***After that, stocks did better, often continuing an Extraordinary move higher.
Charts can sometimes give us a better nuance than numbers from a table, and from the charts we can see a general pattern - ***if stocks held up well in the following weeks, then they tended to do extremely well in the months ahead. ***If stocks started to stumble after this two- month period of calm, however, then the following months tended to show a lot more volatility.
We already know we're seeing an exceptional market environment at the moment, going against a large number of precedents that argued for weakness here, instead of the rally we've seen. If we continue to head higher in spite of everything, these precedents would suggest that we're in the midst of something that could be TRULY EXTRAORDINARY.
If any one wants the lower indicator I'll have it in the Indicators section by early next week. The code gives correct values but it is not coded the best way currently. Both Indicators have a setting in the Inputs Tab where you can adjust the "Threshold" from 1% to 1.5% or .75% etc...
sublimares2
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As usual nice work. I was thinking if you have handy a script for a slow stoch? I do have one but it looks that is not showing accurate values.
ChrisMoody
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Get me alink to a couple of online examples that give codes...and I'll code it for you
pcmourao
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Hey Chris, is it possible for you to write a script that automatically identify's Gartley and Harmonic Patterns? Something like this script for MT4 fx-mt4.info/view-review/zup-v135-harmonic-patterns-indicator . It automatically draws on the chart the pattern as it's forming based on price and Fib levels until the pattern is complete.
ChrisMoody
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I would ask GLAZ or LazyBear in the Pinescript chat room if they have any "Out Of The Box Ideas"...But No...this would require being able to plot lines on the charts that start and end at a certain condition. In coding this requires "Loops"...not implemented in Pinescript yet but coming to a theatre near you...just not sure if it will be released in 3 weeks or 3 months...
The only thing I can think of is defining the criteria in the code and that plots something in order to give you the heads up there is likely a pattern there....If they are willing to give it a shot this is something that would be more in there league...(The two names mentioned above)...
palhedge13
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HOW TO FIND THIS INDICATOR ON THE TRADING VIEW ??????????????????????????????