EMA 9/13/18/25 + Bollinger BandThe indicator combines two components: Exponential Moving Averages (EMAs) and Bollinger Bands.
Exponential Moving Averages (EMAs): The indicator calculates four EMAs with different periods: 9, 13, 18, and 25. An Exponential Moving Average is a type of moving average that places a greater weight and significance on the most recent data points. As the name suggests, it's an average of the asset's price over a certain period, with recent prices given more weight in the calculation, making it more responsive to recent price changes.
Bollinger Bands: Bollinger Bands consist of a simple moving average (the basis) and two standard deviations plotted away from it. The standard deviations are multiplied by a factor (usually 2) to determine the distance from the basis. These bands dynamically adjust themselves based on recent price movements. The upper band represents the highest price level reached in the given period, while the lower band represents the lowest price level.
Combining these components provides traders with insights into both trend direction and volatility. The EMAs help identify trends by smoothing out price data, while the Bollinger Bands offer insights into volatility and potential price reversal points. Traders often use the crossovers of EMAs and interactions with Bollinger Bands to make trading decisions. For example, when the price touches the upper Bollinger Band, it may indicate overbought conditions, while touching the lower band may suggest oversold conditions. Additionally, crossovers of EMAs (such as the shorter-term EMA crossing above or below the longer-term EMA) may signal changes in trend direction.
广量指标
QuarterCandlesChanges candle color when close is within the top 25% or bottom 25% of candle range (High - Low) on the last candle update.
Due to limitations of barcolor command, I'd suggest that you turn OFF the candle borders (chart settings--> right click on chart --> settings -->symbol and uncheck the border option) to ensure that the bar color is easily identifiable.
EMA 20/50/100/200 [NT-DIGITALS]This script plots Exponential Moving Averages (EMA) of 20, 50, 100, and 200 periods on the chart. EMAs are commonly used by traders to identify trends and potential reversal points in the market. The EMA smooths out price data to create a single line that follows the overall trend more closely than a simple moving average. By plotting multiple EMAs of different periods, traders can observe the interaction between short-term and long-term trends, aiding in decision-making for entry and exit points.
Exponential Moving Average (EMA) is a type of moving average that gives more weight to recent price data, making it more responsive to current price movements compared to a simple moving average (SMA). The EMA is calculated by applying a smoothing factor to the previous EMA value and adding a fraction of the difference between the current price and the previous EMA value. This weighting mechanism results in EMAs reacting more quickly to price changes, making them popular for traders looking to capture short-term trends in the market.
C.S.S.R_RYU INDICATOR단기 STO_MTM, 중기 STO_MTM, CCI & RSI를 계산하여 차트에 반영하는 보조지표
설명:
단기 STO_MTM(스토캐스틱 모멘텀) (5,3)과 중기 STO_MTM (14,3)로 현재 차트의 단기 진행 방향성을 파악하고,
CCI와 RSI 보조지표를 통해 현재 구간은 과매수 혹은 과매도 구간인지 파악 후,
해당 신호들이 모두 해당될 때, 시그널을 플로팅 하는 보조지표
BUY SIGNAL: 단기 Sto_mtm과 중기 Sto_mtm이 동시에 -40이하이면서, CCI가 -100이하, RSI가 30이하일 때
초록색 십자가로 표시
SELL SIGNAL: 단기 Sto_mtm과 중기 Sto_mtm이 동시에 40이상이면서, CCI가 100이상, RSI가 70이상일 때
빨간색 십자가로 표시
(4개의 지표중 하나라도 해당되지 않으면 표시 X)
사용 방법:
시그널의 직관성을 위해 설정에서 RSI에 관한 설정을 제외하고 전부 안보이게 설정(이유: STO_MTM과 CCI보다 RSI의 그래프가 훨씬 직관적이기 때문)
기본적으로 시간대가 클수록 해당 시그널의 신뢰도가 올라간다고 생각함, 4시간>1시간>30분>15분 이런식으로 신뢰도가 올라가지만,
초단기 (1,5,15분봉)에서도 과매도, 과매수 구간을 캐치하는데 시각적으로 직관적이게 만듦.
사용예시:
4시간봉, 1시간봉에서 현재 진행 추세 확인 후, 큰 프레임(일봉,4시간봉)에서 상승 추세일 경우 짧은 시간 프레임(1시간,15분,5분)에서 해당 시그널이 발생했을 때 진입
Short-term STO_MTM, medium-term STO_MTM, CCI & RSI auxiliary indicators reflecting calculations on the chart.
Description:
Calculates short-term STO_MTM (5,3) and medium-term STO_MTM (14,3) to determine the short-term directional bias of the current chart. Utilizes CCI and RSI auxiliary indicators to identify whether the current range is overbought or oversold. When all signals are met, plots a signal indicator.
BUY SIGNAL: Indicates a green cross when both short-term STO_MTM and medium-term STO_MTM are below -40 simultaneously, with CCI below -100, and RSI below 30.
SELL SIGNAL: Indicates a red cross when both short-term STO_MTM and medium-term STO_MTM are above 40 simultaneously, with CCI above 100, and RSI above 70.
(If none of the four indicators meet the criteria, no signal is plotted.)
how to use:
For clarity of signals, exclude all settings related to RSI from the settings menu. Reason being, the graph of RSI is much more intuitive compared to STO_MTM and CCI.
Generally, the higher the timeframe, the higher the reliability of the signal. Confidence in the signal increases as follows: 4-hour > 1-hour > 30-minute > 15-minute. However, designed to visually capture overbought and oversold zones even in short-term (1, 5, 15-minute candles).
Example of use:
Confirm the current trend on 4-hour and 1-hour candles. If there is an uptrend in larger time frames (daily, 4-hour), consider entry when the signal occurs on shorter time frames (1-hour, 15-minute, 5-minute).
Murrey Math
The Murrey Math indicator is a set of horizontal price levels, calculated from an algorithm developed by stock trader T.J. Murray.
The main concept behind Murrey Math is that prices tend to react and rotate at specific price levels. These levels are calculated by dividing the price range into fixed segments called "ranges", usually using a number of 8, 16, 32, 64, 128 or 256.
Murrey Math levels are calculated as follows:
1. A particular price range is taken, for example, 128.
2. Divide the current price by the range (128 in this example).
3. The result is rounded to the nearest whole number.
4. Multiply that whole number by the original range (128).
This results in the Murrey Math level closest to the current price. More Murrey levels are calculated and drawn by adding and subtracting multiples of the range to the initially calculated level.
Traders use Murrey Math levels as areas of possible support and resistance as it is believed that prices tend to react and pivot at these levels. They are also used to identify price patterns and possible entry and exit points in trading.
The Murrey Math indicator itself simply calculates and draws these horizontal levels on the price chart, allowing traders to easily visualize them and use them in their technical analysis.
HOW TO USE THIS INDICATOR?
To use the Murrey Math indicator effectively, here are some tips:
1. Choose the appropriate Murrey Math range : The Murrey Math range input (128 by default in the provided code) determines the spacing between the levels. Common ranges used are 8, 16, 32, 64, 128, and 256. A smaller range will give you more levels, while a larger range will give you fewer levels. Choose a range that suits the volatility and trading timeframe you're working with.
2. Identify potential support and resistance levels: The horizontal lines drawn by the indicator represent potential support and resistance levels based on the Murrey Math calculation. Prices often react or reverse at these levels, so they can be used to spot areas of interest for entries and exits.
3. Look for price reactions at the levels: Watch for price action like rejections, bounces, or breakouts at the Murrey Math levels. These reactions can signal potential trend continuation or reversal setups.
4. Trail stop-loss orders: You can place stop-loss orders just below/above the nearest Murrey Math level to manage risk if the price moves against your trade.
5. Set targets at future levels: Project potential profit targets by looking at upcoming Murrey Math levels in the direction of the trend.
7. Adjust range as needed: If prices are consistently breaking through levels without reacting, try adjusting the range input to a different value to see if it provides better levels.
In which asset can this indicator perform better?
The Murrey Math indicator can potentially perform well on any liquid financial asset that exhibits some degree of mean-reversion or trading range behavior. However, it may be more suitable for certain asset classes or trading timeframes than others.
Here are some assets and scenarios where the Murrey Math indicator can potentially perform better:
1. Forex Markets: The foreign exchange market is known for its ranging and mean-reverting nature, especially on higher timeframes like the daily or weekly charts. The Murrey Math levels can help identify potential support and resistance levels within these trading ranges.
2. Futures Markets: Futures contracts, such as those for commodities (e.g., crude oil, gold, etc.) or equity indices, often exhibit trading ranges and mean-reversion trends. The Murrey Math indicator can be useful in identifying potential turning points within these ranges.
3. Stocks with Range-bound Behavior: Some stocks, particularly those of large-cap companies, can trade within well-defined ranges for extended periods. The Murrey Math levels can help identify the boundaries of these ranges and potential reversal points.
4. I ntraday Trading: The Murrey Math indicator may be more effective on lower timeframes (e.g., 1-hour, 30-minute, 15-minute) for intraday trading, as prices tend to respect support and resistance levels more closely within shorter time periods.
5. Trending Markets: While the Murrey Math indicator is primarily designed for range-bound markets, it can also be used in trending markets to identify potential pullback or continuation levels.
Taylor True Ranges - deviationsDescription:
The Taylor True Ranges - Deviations indicator in Pine Script 5.0 computes various price levels and averages based on Taylor's trading principles. It provides insights into potential buying and selling opportunities by analyzing deviations from average price movements. The indicator calculates and visualizes critical levels such as Decline Average, Buying Under Average, Pivot Brake Sell, Rally Average, Buying High Average, and Pivot Brake Buy. These levels are derived from historical price data and help traders identify key support and resistance zones, trend reversals, and breakout points.
Key Features:
Taylor's Trading Principles: The indicator implements Taylor's methodology to analyze price movements and identify trading opportunities based on deviations from average ranges.
Multiple Price Levels: It calculates and displays various price levels, including Decline Average, Buying Under Average, Pivot Brake Sell, Rally Average, Buying High Average, and Pivot Brake Buy.
Customizable Visualization: Traders can customize the visualization by toggling the display of individual price levels and adjusting the appearance settings such as line style, color, and text size.
Daily Lookback: The indicator supports a customizable daily lookback period, allowing traders to analyze historical price movements over a specified timeframe.
Usage:
Apply the Taylor True Ranges - Deviations indicator to your chart to analyze deviations from average price movements and identify potential trading opportunities.
Customize the indicator settings, including the daily lookback period, line style, color, and text size, to suit your trading preferences and analysis requirements.
Use the calculated price levels and averages as part of your technical analysis to make informed trading decisions, including identifying support and resistance levels, trend reversals, and breakout points.
Example:
Traders can use the Taylor True Ranges - Deviations indicator to analyze deviations from average price movements and identify key support and resistance levels. For instance, observing a Pivot Brake Sell level crossing above the current price might indicate a potential selling opportunity, while a Pivot Brake Buy level crossing below the price could signal a buying opportunity.
Market Internals & InfoThis script provides various information on Market Internals and other related info. It was a part of the Daily Levels script but that script was getting very large so I decided to separate this piece of it into its own indicator. I plan on adding some additional features in the near future so stay tuned for those!
The script provides customizability to show certain market internals, tickers, and even Market Profile TPO periods.
Here is a summary of each setting:
NASDAQ and NYSE Breadth Ratio
- Ratio between Up Volume and Down Volume for NASDAQ and NYSE markets. This can help inform about the type of volume flowing in and out of these exchanges.
Advance/Decline Line (ADL)
The ADL focuses specifically on the number of advancing and declining stocks within an index, without considering their trading volume.
Here's how the ADL works:
It tracks the daily difference between the number of stocks that are up in price (advancing) and the number of stocks that are down in price (declining) within a particular index.
The ADL is a cumulative measure, meaning each day's difference is added to the previous day's total.
If there are more advancing stocks, the ADL goes up.
If there are more declining stocks, the ADL goes down.
By analyzing the ADL, investors can get a sense of how many stocks are participating in a market move.
Here's what the ADL can tell you:
Confirmation of Trends: When the ADL moves in the same direction as the underlying index (e.g., ADL rising with a rising index), it suggests broad participation in the trend and potentially stronger momentum.
Divergence: If the ADL diverges from the index (e.g., ADL falling while the index is rising), it can be a warning sign. This suggests that fewer stocks are participating in the rally, which could indicate a weakening trend.
Keep in mind:
The ADL is a backward-looking indicator, reflecting past market activity.
It's often used in conjunction with other technical indicators for a more complete picture.
TRIN Arms Index
The TRIN index, also called the Arms Index or Short-Term Trading Index, is a technical analysis tool used in the stock market to gauge market breadth and sentiment. It essentially compares the number of advancing stocks (gaining in price) to declining stocks (losing price) along with their trading volume.
Here's how to interpret the TRIN:
High TRIN (above 1.0): This indicates a weak market where declining stocks and their volume are dominating the market. It can be a sign of a potential downward trend.
Low TRIN (below 1.0): This suggests a strong market where advancing stocks and their volume are in control. It can be a sign of a potential upward trend.
TRIN around 1.0: This represents a more balanced market, where it's difficult to say which direction the market might be headed.
Important points to remember about TRIN:
It's a short-term indicator, primarily used for intraday trading decisions.
It should be used in conjunction with other technical indicators for a more comprehensive market analysis. High or low TRIN readings don't guarantee future price movements.
VIX/VXN
VIX and VXN are both indexes created by the Chicago Board Options Exchange (CBOE) to measure market volatility. They differ based on the underlying index they track:
VIX (Cboe Volatility Index): This is the more well-known index and is considered the "fear gauge" of the stock market. It reflects the market's expectation of volatility in the S&P 500 index over the next 30 days.
VXN (Cboe Nasdaq Volatility Index): This is a counterpart to the VIX, but instead gauges volatility expectations for the Nasdaq 100 index over the coming 30 days. The tech-heavy Nasdaq can sometimes diverge from the broader market represented by the S&P 500, hence the need for a separate volatility measure.
Both VIX and VXN are calculated based on the implied volatilities of options contracts listed on their respective indexes. Here's a general interpretation:
High VIX/VXN: Indicates a high level of fear or uncertainty in the market, suggesting investors expect significant price fluctuations in the near future.
Low VIX/VXN: Suggests a more complacent market with lower expectations of volatility.
Important points to remember about VIX and VXN:
They are forward-looking indicators, reflecting market sentiment about future volatility, not necessarily current market conditions.
High VIX/VXN readings don't guarantee a market crash, and low readings don't guarantee smooth sailing.
These indexes are often used by investors to make decisions about portfolio allocation and hedging strategies.
Inside/Outside Day
This provides a quick indication of it we are still trading inside or outside of yesterdays range and will show "Inside Day" or "Outside Day" based upon todays range vs. yesterday's range.
Custom Ticker Choices
Ability to add up to 5 other tickers that can be tracked within the table
Show Market Profile TPO
This only shows on timeframes less than 30m. It will show both the current TPO period and the remaining time within that period.
Table Customization
Provided drop downs to change the text size and also the location of the table.
Broad market index / quantifytools- Overview
Broad market index is a market breadth based oscillator, depicting broad market trend by analysing ratio between symbols moving up and symbols moving down in a given market. When market breadth is positive, more symbols are going up and when negative, more symbols are going down. As markets tend to correlate, broad market trend dictates likely path for all individual symbols that make up the market.
This tool provides market breadth for US equities (based on NYSE advancers - decliners) and ability to build two custom breadth baskets with up to 39 symbols included in each. Market breadth can be customized with variety of smoothing options, weighting and threshold modes to find most optimal rules for trend following. Performance of the model is reflected on metrics showing percentage of up/down moves during bullish/bearish states.
Example
↑ 63% = 63% of price moves during positive breadth state are to the upside
↓ 59% = 59% of price moves during negative breadth state are to the downside
Breadth state is colorized on line and chart according to its state (negative/positive/equilibrium) and direction (trending up/down). Upper and lower bands depict historical turning points in breadth for identifying extremes in broad market trend. Triangles mark breadth thrusts, in other words abnormally large moves in breadth at either upper or lower extreme. Breadth thrusts can serve as early signs of broad market trend reverting.
- Concept and features
By default, market breadth is calculated based on NYSE advancers - decliners, usable for all major indices that depict broad markets in US equities (SP500, QQQ, IWM). Users can also build 2 custom breadth baskets consisting of up to 39 symbols for defining broad market on other asset classes, such as cryptocurrencies. Custom baskets are suitable for any chart that fairly represents a market as a whole.
Example
Basket consisting of cryptocurrencies = Use on CRYPTOCAP:TOTAL (all cryptocurrencies aggregated)
Basket consisting of healthcare stocks = Use on AMEX:XLV (healthcare sector ETF)
Breadth line can be further refined using various smoothing options (SMA, EMA, HMA, RMA, WMA), threshold method and weights. By default, threshold (dividing line between bullish and bearish states) is set to fixed at 0, depicting an equilibrium where equal amount of symbols are going up and down.
Threshold mode can also be set to Dynamic, switching threshold to a moving average of the breadth line. Fundamental functionality still remains, breadth line above threshold marks bullish state and below threshold marks bearish state. Difference here is that the threshold no longer depicts a point of equilibrium, but simply a smoothed version of the breadth line itself, which can catch turns in broad market trend earlier.
Breadth basket can be adjusted to volatility of the viewed chart, causing an overstating of breadth on high volatility and understating on low volatility. Weighting takes into account magnitude of up/down moves, which can provide better relevance for trend following purposes.
- Practical guide
Example #1 : Broad market trend
The utility of market breadth is based on the idea that markets correlate and individual symbols making up the market will eventually join the broad market trend. With this in mind, going against broad market is like swimming upstream, it's going to be the hard way. A well performing basket with clear skew for upside and downside on respective breadth states can be used to form directional bias for trades and risk on/off regimes for investing.
Example #2 : Broad market reversals
Thrusts signify two things: a historical extreme in breadth and an aggressive move to the opposite direction. Thrusts are valuable clues for exhaustion in broad market trend, potentially leading to a reversal.
Example #3 : Breadth/price divergences
Market breadth and price diverging signify events where most symbols that make up the market are going one way but a few high weight symbols (big tech for SP500) are going the other way. In other words, only a few symbols are moving the market while general interest and intention is to the other direction. Divergences in breadth and price are not ideal for sustainable trend and can be expected to eventually revert to the direction of broad market.
Price and Volume Stochastic Divergence [MW]Introduction
This indicator creates signals of interest for entering and exiting long and short positions on equities. It primarily uses up and down trends defined by the change in cumulative volume with some filtering provided by a short period exponential moving average (9 EMA by default).
Settings
Moving Average Period : The moving average over which the cumulative volume delta is calculated. Default: 14
Short Period EMA : The EMA used to represent price action, and is used to generate the EMA Delta line. Default: 27 (3*3*3)
Long Period EMA : The second EMA used to calculate the EMA Delta line. Default: 108 (2*2*3*3*3)
Stochastic K Value : The value used for stochastic curve smoothing. Default: 3
Dot Size : The diameter of the larger indicator. Default: 10
Dot Transparency : The transparency level of the outer ring of the primary BUY/SELL signal. Default: 50 (0 is opaque, 100 is transparent)
Band Distance from 0 to 100 : The upper and lower band distance. Default: 20
Calculations
The cumulative volume delta (CVD) is calculated using candle bodies and wicks. For a red candle, buying volume is calculated by multiplying the volume by the spread percentage of the average of the top and bottom wicks, while Selling Volume is calculated multiplying the volume by the spread percentage of the average of the top and bottom wicks - in addition to the spread percentage of the candle body.
For a green candle, buying volume is calculated by multiplying the volume by the spread percentage of the average of the top and bottom wicks - plus the spread percentage of the candle body - while Selling Volume is calculated using only the spread percentage average of the top and bottom wicks.
Once we have the CVD, we can then perform a stochastic calculation of the CVD value.
stochastic calculation = (current value - lowest value in period) / (highest value in period - lowest value in period)
We’ll do the same stochastic calculation for the short term EMA (27 EMA default) as well as for the difference between the short term and long term EMA.
When the stochastic CVD value is rising from zero and the short term EMA stochastic value equals 100, then it’s a major bullish signal. When the stochastic CVD value is falling from 100 and the short term EMA stochastic value equals 0, then it’s a major bearish signal.
Sometimes, after a bullish or bearish signal, the stochastic CVD will reverse direction triggering a new opposing signal.
How to Interpret
The CVD indicates when there is either more buying than selling or vice versa. A value over 50 for the stochastic CVD curve represents more buying taking place. A value below 50 represents more selling. One might intuitively believe that when there is more buying volume than selling volume that the price would follow suit. This is not always the case.
Most of the time buying volume will precede consistent price movement upwards, and selling volume will precede consistent price movement downwards. When this divergence occurs, the indicator generates a signal. When this divergence begins to fail, and buying or selling volume reverses, then another signal is generated indicating that the buying/selling impulse is headed back into the direction of price action.
These interactions are visually represented on the chart with the coral line that represents CVD, and the yellow line that represents the EMA, or the average price. When the coral line goes up and the yellow line stays down, that’s the BUY signal. When the coral line goes down and the yellow line stays up, that’s the sell signal. When the coral line switches direction, the chart generates another signal showing that volume is moving in a direction that supports the price.
The orange line represents the stochastic representation of the difference between the short EMA (27 by default) and the long EMA (108 by default). EMA differences is a method that can be used to define a trend. When a short term EMA is above a longer term EMA, that may represent a bullish trend. When it is below, that may represent a bearish trend. When all 3 lines are rising or falling in the same direction at the same time, it tends to indicate a movement that has the potential to continue.
Other Usage Notes and Limitations
It's important for traders to be aware of the limitations of any indicator and to use them as part of a broader, well-rounded trading strategy that includes risk management, fundamental analysis, and other tools that can help with reducing false signals, determining trend direction, and providing additional confirmation for a trade decision. Diversifying strategies and not relying solely on one type of indicator or analysis can help mitigate some of these risks.
This indicator can be paired with the MW Volume Impulse indicator if it is desired to see the actual buying and selling cumulative volume deltas. Also, in many cases, the BUY and SELL signals tend to correspond with Keltner Bands (ATR Bands) becoming extended. Lastly, volume weighted average price (VWAP) along with other macro events can impact price and negate signals. To view VWAP lines, you may choose to use the Multi VWAP or Multi VWAP for Gaps indicator to help ensure that the signals you see in this indicator are not being affected by VWAP lines.
On Balance Volume WaveIntroducing an Enhanced Version of the Classic OBV Indicator
The On-Balance Volume (OBV) indicator is a well-known tool among traders, celebrated for its ability to track momentum by using volume flow to predict changes in stock price. For an overview of the original OBV indicator, please visit: www.tradingview.com .
What Makes This Version Different?
This enhanced version of the OBV indicator incorporates advanced signal processing techniques to bring new depth to market analysis. Here's what sets it apart:
Standard Deviation Bands and EMAs: These additions to the OBV offer a visual representation of significant market movements—highlighting major pumps and dumps, as well as identifying potential support and resistance levels.
Color-Coded Insights: The standard deviation bands utilize color coding based on signal processing principles. This feature becomes increasingly useful the more you zoom out, making it easier to observe and interpret market waves.
Market Maker Activity: By examining fluctuations within the standard deviation bands, traders can gauge when Market Makers are actively maneuvering to establish their long and short positions, often at the expense of retail traders.
EMA Support and Resistance: The embedded Exponential Moving Averages (EMAs) serve as dynamic support and resistance levels. Analyzing these can help traders determine the continuing strength of a market move, whether bullish or bearish.
Visual Guide to the Basics
For a clearer understanding of what this enhanced indicator can show, please refer to the image below:
And in addition to all the above one can detect relevant W and M structures way easier with this indicator ;)
Candle Range ExtensionThis script defines an indicator called "Candle Range Extension" that calculates the range of each candle (high minus low) and then multiplies that range by 3 to get the extension distance. It then plots two lines on the chart: one line that extends 3 times the candle range above the candle's high (in green) and another line that extends 3 times the candle range below the candle's low (in red).
Breadth - New Highs & New Lows [bluesky509]Breadth - Highs & Lows Indicator
█ Description: View market highs and lows across various timeframes and exchanges.
█ Key Features:
Moving Averages: Choose from a range of MA types.
Flexible Market/Periods: Analyze different markets and different periods of NH-NL
Hi-Low Mode: Analyze high-low differences or individually
Repaint Control: Toggle between repainting and non-repainting modes to suit your strategy.
Visual Enhancements: Color-coded data visualization for easy interpretation.
█ Usage & Compliance:
Designed for educational and informational purposes, complementing your trading strategy with enhanced market insights.
█ Note:
This indicator is not intended as direct investment advice. It serves as a tool to aid in market analysis and decision-making.
█ CODE
The script is published as a protected code due to the usage of a certain style/formula. While the idea of knowledge sharing is encouraged, certain aspects of the script remain confidential.
Breadth - MTF Cumulative New Highs - New LowsBreadth - MTF Cumulative New Highs - New Lows
📈 Plots cumulative 52W New Highs - New Lows with various timeframes/exchanges.
There are already similar scripts available. This just adds more exchanges and timeframe options.
Key Features :
🔄 Repaint Control: Toggle between repainting and non-repainting modes to align with your trading approach.
📊 Adjustable Timeframes: Fine-tune the timeframe multiplier to fit your analytical needs.
📉 MA Integration: Leverage a Moving Average to identify and follow trends.
🔄 Exchange Selection: Choose from a range of markets for targeted analysis.
Trading with Awareness:
This tool is designed to augment your trading strategy by offering additional insights. It's not a crystal ball for market behavior but a lens to view market dynamics more clearly.
Usage:
Primarily intended for educational and informational purposes. Not to be taken as direct investment advice.
Table SessionIt's a part of a script taken from the lux_Algo indicator and optimized with the BTCUSDT symbol to display the real status of sessions since the crypto market is always open.
Key Features:
Customizable Sessions: Choose from major global financial centers, including New York, London, Tokyo, and Sydney. Customize the parameters for each session according to your preferences.
Intuitive Dashboard: The interactive dashboard displays real-time active and inactive sessions, providing you with an instant overview of the market status.
Automatic Timezone Support: Avoid timezone confusion with automatic exchange timezone support.
Customizable Aesthetics: Tailor the appearance of the table to your style with customization options, whether it's vibrant colors or text sizes.
Easy to Use: No technical expertise required. Simply enable the sessions you want to display and let the script handle the rest.
Why Choose "Table Session":
Time-Saving: Eliminate the time-consuming manual search for trading sessions. Our script does it for you, freeing up your attention for more critical decisions.
Unmatched Decision-Making: Instantly identify prime trading opportunities by understanding which sessions are active and when.
Total Flexibility: Customize the script to your trading style and preferred markets for a tailored trading experience.
ka66: Relative StrengthSimple indicator that allows you to compare the price's series vs. another selected (input) series. The scale is unbounded. If it's rising, that means the chart series is outperforming the compared against series, otherwise it's underperforming it. The compared against series is usually a relevant index, e.g. marketwide like US500, or a sector series, or in the case of currencies, the DXY index.
We color code things, and have the option of adding an average line using several common averaging types.
The chart example shows how the indicator works by showing the it's movement when the AUDUSD close series is compared to the DXY close series.
If AUDUSD moves up strongly, away from/above (or towards if under) the DXY, the indicator rises upward.
If both series are roughly at the same spot, the indicator flattens.
If AUDUSD moves down strongly, away from, below (or towards if over) the DXY, the indicator falls downward.
The basic use is to confirm the validity of an up or down move on the chart, e.g. if the indicator has had 2 to 3 contiguous declines at an inflection point, then the move is likely valid.
There might be divergence signals too, but I haven't checked.
RSI Candle (Tommy)This indicator is the open(free) version of TTT_Crack_RSI_Ver_2.1.0 we have published a while ago.
Hello dear traders from all over the world!
It has been a while since our team started concentrating on the technical indicators that apply sources not only on the closed price but also on the high/low prices of the candlestick to overcome the limitations of existing indicators. As mentioned repeatedly before, most of widely adapted indicators in technical chart these days are generated only with the closed prices, not taking in consideration of the wicks or tails of the candlesticks. This crucially leads to a rapid decrease in the reliability especially in current financial market, where ignoring other portions within a candlestick structure and putting weights just on candle body often causes fatal trading outcome. Since phenomenons such as wide price fluctuation and non-ideal price momentum occur more frequently compared to the old days when TA used to perfectly work just as the images in a textbook, sourcing OHLC (Open, High, Low, Closed) prices from a candle structure is becoming more essential and practical.
Such revolutionary perceptions and insights could be easily acquired: by just adding high/low prices of the candlesticks when computing technical indicators, many more meaningful signals were observed. One of the popular indicators we have recently attempted to reflect this very idea was RSI (Relative Strength Index) that was published by the name of “RSI Cloud” months ago. As shown below, this groundbreaking index was to be comprehended as a band or a cloud rather than a single line. In fact, many unexpected methodologies, techniques, and insights were discovered through countless applications as our team went through series of experiments and back/forward tests. The results were quite shocking: Little did we know that drawing trendlines, parallel channels, and previous highs/lows etc. just like we do on the regular candlestick chart would also work decisively. Not only divergences were efficiently captured, but ‘SR Flip’ techniques also functioned as well.
Anyway, validation and verification process has been successful, ensuring that taking all of the candlestick into an account within the indicators provides much more meaningful signals than the indicators with ‘closed source’, the default setting. During thousands of our trials, we questioned to ourselves: If we are going to transform candlestick structure into an equation utilizing all of the prices, why don’t we just express the index with the same format, as another candlestick? The initial intention of the clouds or bands were to adapt the tails of the candle and to smooth them out. And this radical idea changed the whole game. By applying this candlestick format insights, even more significant signals were brought up on to the surface that surprised all of us.
Without a doubt, just like the cloud version, the candlestick version even works better when applying trendlines, pivots, channels, divergences and SR Flips, etc. As we were studying behaviors of the RSI candlestick indicator, a determinant and significant signal was detected that can be usefully referred to traders and this core element is why this update extremely so innovative. We spotted that the emergence of consecutive tails could be a valuable signal that could be weighted. Especially when the tails appeared in sequence in overbought and oversold zone, a strong preference of trend reversal was observed. It was only matter of time to search for the proper parameters and values that fits the market!
And here we are, presenting our newest indicator, “TTT_Crack_RSI_2.1.0” Just like the previous version, it catches regular and hidden divergences automatically and furthermore, we made it to detect appearance of sequential candle wicks in overbought/sold zone (70 and 30 as default) signaling some possibility of trend reversal. The default setting for the consecutive wick counting (Wick Count) is 4, meaning if candle wicks are formed (Top tail in the overbought zone and bottom tail in the oversold zone) four times in a row, a triangle will appear signaling potential trend reversal. As traders’ preferences, the settings can be customized. “Wick Length” setting let users to decide the minimum size of the wick that are to be considered as the proper criteria of candlestick wick. If one wishes to only imply candle wick that are longer than certain length, he or she can increase the “Wick Length” value. We recommend 30~40 for this parameter value. Moreover, if one wants the minimum number of consecutive wicks to that are to be counted to be greater or less, he or she can put in the minimum counting number value at “Wick Count”. For example, if more conservative trader wishes to consider minimum number of consecutive wicks as 6, then the logic will signal only if the wicks appear 6 times in a row in overbought/sold zone. Overbought and oversold zone can also be modified in the settings just like the regular RSI indicator.
How to effectively use this indicator to search for a decent entry point? First of all, do not just enter position only because a single signal has been appeared. The most reliable and strong entry sign would be when the trendline/channel breaks below/above at the overbought/sold zone and at the same time, consecutive wicks and divergence signals appear as well. If all of those signals have been observed, aim for the spot when RSI escape the overbought/sold zone. That would be a proper time to enter a position. As we emphasized many times, it is very reckless to make trading decisions only with technical indicator. It might defer a little bit depending on traders’ tendency, but indicators are to be considered as a side tool to identify macro level trends and signals of possible trend reversal. Always remember, traders that rely on TA must look for the confluent zone and thus the more technical factors that overlap price-wise and time-wise, the more reliability can be given.
If you wish to try our work, please comment below or send message to this account.
Thank you very much.
본 지표는 예전 업로딩했던 TTT_Crack_RSI_Ver_2.1.0의 무료 버전입니다.
안녕하세요 트레이더 여러분. 토미 트레이딩 팀의 토미입니다.
최근 저희 개발팀은 캔들차트의 종가만으로 산출되는 기술적 지표들의 한계점을 극복하고자 캔들 고/저가까지 적용을 시켜 ‘요즘 장에 더 맞는’ 지표들을 만들기 위해 많은 노력을 해왔습니다. 저희 시장 분석/시황, 강의자료, 그리고 지표 개발 문서에서 누누이 언급 드렸듯, 근래 많은 트레이더 분들에게 널리 사용되고 있는 대부분의 지표들은 캔들의 종가만 고려하는 경우가 많습니다. 비상식적이고 두 눈으로 보고도 믿기지 않을 가격 모멘텀 및 변동성이 난무하는 요즘 21세기 금융시장에서는 예전처럼 교과서에나 볼 법한 뻔하고 예측 가능한 패턴 및 형국들을 찾아보기 힘들어졌습니다. 이렇게 급변하는 최근 시장 성향 상 기술적 분석에 캔들 꼬리를 배제하고 몸통만 고려하기에는 너무 치명적인 리스크가 뒤따라오기 마련입니다.
이런 궁극적인 목표로 개발에 착수한 저희 팀은 캔들의 OHLC(시, 고, 저, 종가)를 지표에 내포시켜 더 유의미한 신호들을 도출할 수 있다는 이론을 검증하였고 이를 반영해 몇 달 전 "RSI 클라우드"를 트레이딩뷰에 출시한 바 있습니다. 아래의 링크(이미지)에서 시사하는 바와 같이 RSI 역시 주가를 하나의 라인이 아닌 구조로 해석하여 밴드나 클라우드 형태로 표현해보니 실제로 더 높은 실용성과 활용성을 입증할 수 있었습니다. 또한 수많은 실험과 백/포워드 테스팅을 거치면서 사전에 전혀 예상치 못한 방법론 및 기법들을 응용시킬 수 있다는 사실까지 밝혀냈습니다. 일반 캔들 차트처럼 추세선, 평행채널, 피봇, 그리고 전 매물대 등의 작도법을 적용시킬 수 있을뿐더러 캔들의 종가가 아닌 고/저가를 활용해보니 더 효과적인 일반/히든 다이버전스 시그널을 찾아낼 수 있었습니다. 게다가 SR Flip (지지와 저항이 뚫리면 바뀌는 현상) 이론마저 잘 먹히는 현상을 인지한 저희는 개발 방향을 이쪽으로 더 깊고 세밀하게 발전시키는 쪽으로 잡았습니다.
여러 시행착오를 통해 이것저것 될 만한 건 다 시도해보던 와중, 저희는 어느 날 문득 이런 질문을 던지게 됩니다. ‘어차피 이왕 캔들의 OHLC 값을 지표화 시키는 거 차라리 지표마저 동일하게 캔들화시키는 게 낫지 않을까?’ 결과는 매우 충격적이면서도 동시에 저희에게 허탈감을 안겨줬습니다. 곰곰이 생각해보니 클라우드/밴드 형태의 지표는 적용시킨 캔들의 고/저가를 일련의 Smoothing out 프로세싱 작업을 입힌 거고 그럴 바엔 오히려 동일한 캔들 형태로 표현해버리면 더 직관적인 경향성과 규칙성을 파악할 수 있을 거란 저희의 예상은 적중했습니다. 클라우드/밴드 지표 형식의 모든 차별성과 장점은 그대로 유지하고 심지어 더 유의미한 신호들을 포착할 수 있었습니다.
해당 산출물에 추세선, 평행채널, 피봇, 전 매물대, 그리고 SR FLIP과 같은 작도법과 다이버전스 시그널 등을 더 세밀하고 효율적으로 적용시킬 수 있는 건 물론이고, 그 외 저희는 또 한가지 결정적이고 획기적인 시그널을 탐지했습니다. 사실 이 부분이 이번 업데이트의 가장 핵심 요소라고 볼 수 있습니다. 캔들스틱화된 RSI 지표의 경향성 및 규칙성 고찰 과정 중 캔들 꼬리가 연속적으로 출현하는 현상에 심상치 않은 기운을 감지한 저희 팀은 정말 소름이 돋을 정도로 용이한 추세 전환 시그널을 발견했습니다. 바로 과매도 구간에서는 아래꼬리, 과매수 구간에서는 위꼬리가 연달아 나올 경우 상당히 높은 확률로 변곡점이 출현하고 추세가 전환되는 경향성에 가중치를 부여해 이에 최적화된 파라미터 및 설정 값들을 찾아 로직화 시켜봤습니다. 결과는 아주 만족스러웠습니다.
이름하여 저희의 최신 지표인 "TTT_Crack_RSI_2.1.0"를 여러분께 소개 드립니다. 이전 버전인 “RSI Cloud”와 마찬가지로, 종가가 아닌 고/저가의 일반/히든 다이버전스 시그널을 알아서 포착해주고, 더 나아가 과매매 구간(기본 값은 30/70이며 설정 변경 가능)에서 RSI 캔들 꼬리의 연속성을 자동으로 감지해 표시(삼각형)를 해주게 끔 만들었습니다. 과매매 구간에서 연이어 출현하는 캔들 꼬리 카운팅의 최소 값은 4으로 디폴트 값 설정을 해 놨습니다. 더 보수적/공격적으로 접근하고 싶으신 분들은, 즉 최소 카운팅 값을 4이 아닌 다른 값으로 변경하고 싶으신 분들은 설정에 들어가셔서 “Wick Count” 항목에 원하는 값을 기재하시면 됩니다.
캔들 꼬리라는 게 어떻게 보면 상대적이고 주관적인 개념일 수 있습니다. 캔들꼬리가 조금만 나와도 의미 부여를 할 수 있는가 하면 특정 이상 길이 아니면 의미 부여를 하지 않을 수 있습니다. 저희는 유저들에게 최대한 높은 유동성을 제공하고자 본 메커니즘이 정의하는 캔들 꼬리 길이를 변경할 수 있도록 만들어 놨습니다. ‘Wick Length” 설정 값을 통해 해당 로직이 간주하는 최소 캔들꼬리 길이를 정할 수 있습니다. 기본 설정 값은 30으로 되어 있고, 경험상 30~40 정도가 적당하다고 보고 있습니다.
마지막으로 해당 지표로 효과적인 진입 타점을 찾는 법을 간략히 알려드리겠습니다. 우선 절대로 아무 시그널 하나 툭 떴다고 무조건 바로 진입하는 건 절대 삼가해주세요. 가급적이면 과매매 구간에서 추세선/채널 이탈, 연속 캔들 꼬리 신호, 그리고 다이버전스가 동시에 떴을 상황을 예의주시하시면 됩니다. 이렇게 비교적 비슷한 시간에 유의미한 신호들이 포착되었다면 또 바로 진입하지 마시고 조금 더 기다리셨다가 과매매 구간을 벗어나는 타이밍을 노리시면 됩니다. 항상 강조드리지만 기술적 지표 하나만 가지고 트레이딩 의사결정을 하는 건 정말 무모한 행위입니다. 개인의 매매성향 마다 다르겠지만 기술적 지표는 항상 큰 추세와 변곡 출현 가능성을 파악하는데 참고하는 용도로 사용 하셔야지 그렇지 않으면 캔들차트는 아예 꺼버리고 지표만 보고 매매하는 꼴이 됩니다.
Bulls VS Bears Momentum IndicatorBulls VS Bears Momentum Indicator
Description:
The Bulls VS Bears Momentum Indicator is a unique TradingView script designed to help traders identify potential momentum shifts in the market. This proprietary indicator uses a fixed Average True Range and a multiplier of to calculate dynamic stop levels that signal bullish or bearish momentum.
Here’s how it operates:
1. Average True Range-Based Stops: The script establishes long and short stop levels based on the half-way point of the high and low (hl2) of the current bar, adjusted by the Average True Range value. The long stop is set below hl2, while the short stop is set above. These levels adapt to market volatility, using the Average True Range to scale the distance from hl2, ensuring that the stops react sensitively to changes in price movement.
2. Directional Assessment: A directional value (dir) is determined by the relationship of the closing price to the previous stop levels. If the price closes above the previous short stop level, a bullish turn is indicated, setting the direction to 1. Conversely, if the price closes below the previous long stop level, a bearish turn is indicated, setting the direction to -1.
3. Momentum Shifts: The script flags bullish momentum when the direction changes from -1 to 1, suggesting a shift in market sentiment from bearish to bullish. Similarly, bearish momentum is flagged when the direction changes from 1 to -1, indicating a potential shift from bullish to bearish sentiment.
4. Visual Cues and Alerts: For ease of use, the indicator plots shapes on the chart: an upward triangle below the bar for bullish momentum and a downward triangle above the bar for bearish momentum. These are color-coded green for bullish and red for bearish signals. Additionally, alert conditions are set for both bullish and bearish momentum to notify traders of potential shifts.
This indicator is intended for traders who want to capture significant shifts in momentum, potentially allowing for timely adjustments to their positions. The concept of using Average True Range-adjusted hl2 as a basis for stop levels introduces an original approach to momentum detection, diverging from traditional moving average or oscillator-based methods.
Remember that no indicator can predict market movements with absolute certainty. As with any trading tool, it's important to use the Bulls VS Bears Momentum Indicator in conjunction with a robust trading strategy and risk management protocols.
Usage Guidelines:
Ideal for mid to long-term trade setups.
Best used in trending markets to detect potential reversals.
Can be combined with other forms of analysis to confirm signals.
This script is a product of extensive market research and personal trading experience, and I am proud to offer it to the TradingView community. For any further queries or clarification on how to integrate this tool into your trading strategy, feel free to reach out.
Disclaimer:
The "Bulls VS Bears Momentum Indicator" is provided for informational purposes only and does not constitute trading advice. As a trader, you assume full responsibility for your trading decisions and the risks associated with financial markets. Past performance is not indicative of future results. Use this tool at your own risk.
Cumulative Volume Price (Candle Body, High-Low)Indicator Description: Cumulative Volume Price (Candle Body, High Low)
This indicator features three cumulative plots that continuously accumulate values over time.
Cumulative Volume Plot:
The first plot displays the cumulative volume, calculated by continuously adding the volume values from zero.
Cumulative Candle Body Width Plot:
The second plot displays the cumulative width of the candle bodies, obtained by continuously adding the actual body widths from zero.
Cumulative Candle High-Low Width Plot:
The third plot displays the cumulative width of the candle high-low ranges, calculated by continuously adding the widths between the high and low prices from zero.
Usage Guidelines:
Due to the different orders of magnitude in value range used for volume and candlesticks, it is advisable to typically select and display any single plot.
説明
このインジケーターは、時間の経過とともに値を累積し続ける3つのプロットを備えています。
累積ボリューム:
ボリュームの値をゼロから累積的に加算しています。
ローソク足の累積実体幅:
ローソク足の実体幅の値をゼロから累積的に加算しています。
ローソク足の累積高安幅:
ローソク足の高安の幅の値をゼロから累積的に表示しています。
使用ガイドライン:
ボリュームとローソク足で使用する数値のオーダーが異なるため、通常は任意の一本を選択して表示することを想定しています。
BTC ETF VolumesVolume
This script plots the trading volume of all BTC spot ETFs as well as the aggregate volume. Works on any chart and any timeframe.
Indicators
The volume of every ETF is plotted in a different color, with the total column adding up to the aggregate volume.
If you have price and indicator labels enabled you will also see individual ETF volume on your price scale on the right hand side.
If more BTC ETFs get launched I will add them.
ADX Thrust Reversal & Trend
Created by Love Sharma, CMT, CFTe
the idea is simple. there needs to be thrust in prices before adx goes above any barrier or level say 25/10 or even 10/ The Di plus or Di minus should be above ADX. This indicates the change in direction or change in underlying price and obviously followed by ADX indicator which is dependent on user which level it exceed.
The ADX - Shows Trend Strength
The =/- Di show Thrust or reversal in prices.
it helps in entering the directional change in prices early rather than waiting for ADX
Market Average TrendThis indicator aims to be complimentary to SPDR Tracker , but I've adjusted the name as I've been able to utilize the "INDEX" data provider to support essentially every US market.
This is a breadth market internal indicator that allows quick review of strength given the 5, 20, 50, 100, 150 and 200 simple moving averages. Each can be toggled to build whatever combinations are desired, I recommend reviewing classic combinations such as 5 & 20 as well as 50 & 200.
It's entirely possible that I've missed some markets that "INDEX" provides data for, if you find any feel free to drop a comment and I'll add support for them in an update.
Markets currently supported:
S&P 100
S&P 500
S&P ENERGIES
S&P INFO TECH
S&P MATERIALS
S&P UTILITIES
S&P FINANCIALS
S&P REAL ESTATE
S&P CON STAPLES
S&P HEALTH CARE
S&P INDUSTRIALS
S&P TELECOM SRVS
S&P CONSUMER DISC
S&P GROWTH
NAS 100
NAS COMP
DOW INDUSTRIAL
DOW COMP
DOW UTILITIES
DOW TRANSPORTATION
RUSSELL 1000
RUSSELL 2000
RUSSELL 3000
You can utilize this to watch stocks for dip buys or potential trend continuation entries, short entries, swing exits or numerous other portfolio management strategies.
If using it with stocks, it's advisable to ensure the stock often follows the index, otherwise obviously it's great to use with major indexes and determine holdings sentiment.
Important!
The "INDEX" data provider only supplies updates to all of the various data feeds at the end of day, I've noticed quite some delays even after market close and not taken time to review their actual update schedule (if even published). Therefore, it's strongly recommended to mostly ignore the last value in the series until it's the day after.
Only works on daily timeframes and above, please don't comment that it's not working if on other timeframes lower than daily :)
Feedback and suggestions are always welcome, enjoy!
Stock WatchOverview
Watch list are very common in trading, but most of them simply provide the means of tracking a list of symbols and their current price. Then, you click through the list and perform some additional analysis individually from a chart setup. What this indicator is designed to do is provide a watch list that employs a high/low price range analysis in a table view across multiple time ranges for a much faster analysis of the symbols you are watching.
Discussion
The concept of this Stock Watch indicator is best understood when you think in terms of a 52 Week Range indication on many financial web sites. Taken a given symbol, what is the high and the low over a 52 week range and then determine where current price is within that range from a percentage perspective between 0% and 100%.
With this concept in mind, let's see how this Stock Watch indicator is meant to benefit.
There are four different H/L ranges relative to the chart's setting and a Scope property. Let's use a three month (3M) chart as our example and set the indicator's Scope = 4. A 3M chart provides three months of data in a single candle, now when we set the Scope = 4 we are stating that 1X is going to look over four candles for the high/low range.
The Scope property is used to determine how many candles it is to scan to determine the high/low range for the corresponding 1X, 3X, 5X and 10X periods. This is how different time ranges are put into perspective. Using a 3M chart with Scope = 4 would represent the following time windows:
- 1X = 3M * 4 is a 12 Months or 1 Year High/Low Range
- 3X = 3M * 4 * 3 is a 36 Months or 3 Years High/Low Range
- 5X = 3M * 4 * 5 is a 60 Months or 5 Years High/Low Range
- 10X = 3M * 4 * 10 is a 120 Months or 10 Years High/Low Range.
With these calculations, the indicator then determines where current price is within each of these High/Low ranges from a percentage perspective between 0% and 100%.
Once the 0% to 100% value is calculated, it then will shade the value according to a color gradient from red to green (or any other two colors you set the indictor to). This color shading really helps to interpret current price quickly.
The greater power to this range and color shading comes when you are able to see where price is according to price history across the multiple time windows. In this example, there is quick analysis across 1 Year, 3 Year, 5 Year and 10 Year windows.
Now let's further improve this quick analysis over 15 different stocks for which the indicator allows you to watch up to at any one time.
For value traders this is huge, because we're always looking for the bargains and we wait for price to be in the value range. Using this indicator helps to instantly see if price has entered a value range before we decide to do further analysis with other charting and fundamental tools.
The Code
The heart of all this is really very simple as you can see in the following code snippet. We're simply looking for the highest high and lowest low across the different scopes and calculating the percentage of the range where current price is for each symbol being watched.
scope = baseScope
watch1X = math.round(((watchClose - ta.lowest(watchLow, scope)) / (ta.highest(watchHigh, scope) - ta.lowest(watchLow, scope))) * 100, 0)
table.cell(tblWatch, columnId, 2, str.format("{0, number, #}%", watch1X), text_size = size.small, text_color = colorText, bgcolor = getBackColor(watch1X))
//3X Lookback
scope := baseScope * 3
watch3X = math.round(((watchClose - ta.lowest(watchLow, scope)) / (ta.highest(watchHigh, scope) - ta.lowest(watchLow, scope))) * 100, 0)
table.cell(tblWatch, columnId, 3, str.format("{0, number, #}%", watch3X), text_size = size.small, text_color = colorText, bgcolor = getBackColor(watch3X))
Conclusion
The example I've laid out here are for large time windows, because I'm a long term investor. However, keep in mind that this can work on any chart setting, you just need to remember that your chart's time period and scope work together to determine what 1X, 3X, 5X and 10X represent.
Let me try and give you one last scenario on this. Consider your chart is set for a 60 minute chart, meaning each candle represents 60 minutes of time and you set the Stock Watch indicator to a scope = 4. These settings would now represent the following and you would be watching up to 15 different stocks across these windows at one time.
1X = 60 minutes * 4 is 240 minutes or 4 hours of time.
3X = 60 minutes * 4 * 3 = 720 minutes or 12 hours of time.
5X = 60 minutes * 4 * 5 = 1200 minutes or 20 hours of time.
10X = 60 minutes * 4 * 10 = 2400 minutes or 40 hours of time.
I hope you find value in my contribution to the cause of trading, and if you have any comments or critiques, I would love to here from you in the comments.
Bank Nifty Market Breadth (OsMA)This indicator is the market breadth for Bank Nifty (NSE:BANKNIFTY) index calculated on the histogram values of MACD indicator. Each row in this indicator is a representation of the histogram values of the individual stock that make up Bank Nifty. Components are listed in order of its weightage to Bank nifty index (Highest -> Lowest).
When you see Bank Nifty is on an uptrend on daily timeframe for the past 10 days, you can see what underlying stocks support that uptrend. The brighter the plot colour, the higher the momentum and vice versa. Looking at the individual rows that make up Bank Nifty, you can have an understanding if there is still enough momentum in the underlying stocks to go higher or are there many red plots showing up indicating a possible pullback or trend reversal.
The plot colours are shown as a percentage of the current histogram value taken from MACD from the highest histogram value of the previous 200 bars shown on the current timeframe. Look back value of 200 bars was chosen as it provided a better representation of the current value from its peak over the recent past(previous 200 bars), on all timeframes. Histogram value do grow/fall along with the underlying stock price, so choosing the chart's all-time high/low value as peak was not ideal. Labels on the right show the current histogram value.
Base Code taken from @fengyu05's S&P 500 Market Breadth indicator.
