Trend followerThis indicator is a trend follower that uses exponential moving averages to estimate the trend strength and prints a BUY label every time that price action matches the algorithm conditions. Always wait for the closure of the current candle to confirm the conditions match.
Ideally, the trade should be taken with a BUY STOP order placed above the signal candle and a STOP LOSS below the most recent swing low; make sure you allow enough room for the trade to breathe.
For additional resources, follow my YouTube channel .
You can also join my Facebook group or PM me directly here on Tradingview.
Trendtrading
Darvas BoxesExcerpt from TraderHQ: "Darvas Box is a great technical analysis indicator, with an interesting background and creator. Nicholas Darvas, a dancer by trade, made $2,000,000 in an 18-month period trading stocks using the Darvas Box method, while traveling the world on dance tours. The method is designed to capture emerging trends, and ride them for big potential profit, all while keeping risk contained."
Excerpt from Investopedia:
DEFINITION of 'Darvas Box Theory'
Darvas box theory is a trading strategy that was developed in 1956 by former ballroom dancer Nicolas Darvas. Darvas' trading technique involves buying into stocks that are trading at new highs. A Darvas box is created when the price of a stock rises above the previous high but falls back to a price not far from that high.
BREAKING DOWN 'Darvas Box Theory'
The Darvas box theory is essentially a momentum strategy. It uses market momentum theory and technical analysis to determine when to enter and exit the market, and it uses fundamental analysis to determine what to buy or sell. If the price breaks out of the box, it is a sign of a breakout. In this way, the Darvas box helps traders determine what price to enter and exit the market.
In 1956, Darvas turned an investment of $10,000 into $2 million over an 18-month period using this theory. While traveling as a dancer, Darvas obtained copies of The Wall Street Journal and Barron's, but he would only look at the stock prices to make his decisions. It has been said that Darvas was less happy about the profits that he made than he was about the ease and peace of mind that he got from implementing his system. Skeptics of Darvas' technique attribute his success to the fact that he was trading in a very bullish market. They also say that his results can't be attained if this technique is used in a bear market.
The Philosophy: What to Buy
The main idea behind Darvas' trading philosophy is to focus on growth industries. These are industries that are expected to outperform the market. Darvas selected a few stocks from these industries and monitored their prices every day. He looked for signs that the stock was ready to make a strong move. The main indicator he used to look for these signs was volume. A significant increase in volume increased the likelihood of a big move. Darvas looked for unusual volume on a handful of companies in industries he expected to grow.
The Trading Strategy: When to Enter and Exit
Once Darvas noticed unusual volume, he created a Darvas box with a narrow price range. The stock's low for the time period presents the floor of the box. The stock's high for the time period represents the ceiling of the box. When the stock breaks through the ceiling of the box, the trader is supposed to buy the stock. Likewise, when the stock goes below the floor of the Darvas box, it is time to sell."
Great trading strategy, and an indicator never before seen on TradingView!
Fractal and Alligator Alerts by JustUncleLThis is based on two well known Bill Williams Fractal and Alligator strategies.
The following code is an implementation is similar to reversal strategy specified here:
forexwot.com
and another well know Alligator break out strategy.
This was achieved by combining some of the ideas from two other indicators:
True Williams Alligator (SMMA) by the_batman
Fractals and Levels by JustUncleL
There are two types of Fractal + Alligator Strategies included in this indicator:
Fractal Reversal : In an uptrend defined by Low Fractal that is above the Alligator teeth and the Alligator mouth is completed open in an uptrend. The opposite for downtrends. (Green and Red Arrows)
Fractal BreakOut : In an uptrend, at the start of Alligator open we look back for the first Fractal High above Alligator Teeth. Alligator teeth must be above mouth. (Aqua and Fuchsia arrows)
Donchian Channel Alerts R1 by JustUncleLThis idea is based on the Donchain Channel centre line Price action. When price moves from the highest/lowest point, the price will move to the center line first. At this point, the center line acts as dynamic support/resistance and often price will bounce back up. However, if price successfully breaks the centre line (primary entry condition), then prices will tend to catch up to the bottom channel line, many times making further moves in that direction (secondary entry condition).
This script alert idea is designed to be used with Renko (10pip brick recommended) Renko or Heikin Ashi (1 hour recommended) charts. It combines the Donchian Channel centre line price action with a directional coloured EMA (default length 8) to provide entry and exit signals.
There are three options to exit trade:
MA Cross (default exit) = exit occur when price breaks EMA in opposite direction.
Centre Cross = exit occurs when price breaks back passed the centre line in opposite direction.
Brick Colour = exit when a brick/bar paints in the opposite colour to trade direction.
Each Entry and Exit signal creates an Alertcondition that can be picked up by the TradingView Alarm system.
TIPS:
This type of Trading technique only works well in a trending market. Do not try to trade this technique in a ranging/flat market, wait for market to return to trend or pick another pair.
To get 10pip Bricks set Renko to "Traditional" type bricks and 0.001 for non-JPY currency pairs and 0.1 for JPY currency pairs. Also set chart Time frame to 5min or 15mins.
Renko chart:
Renko+Moving Average+RMI Alert R3 by JustUncleLThis script idea is designed to be used with 10pip brick (recommended) Renko charts. It combines the Renko price action with a directional coloured EMA (default length 6) and a RMI (instead of the usual RSI) indicator to provide entry and exit signals. RMI is bit like RSI with a built-in momentum factor and works well with Renko.
Signals can optionally be filtered by Daily or Weekly Open, where by only trade long above open and short below open (this option is enabled by default). Exit occur when EMA or RMI reverses direction, or optionally (disabled by default) when the Renko prints a brick in the reverse direction. Each Entry and Exit signal creates an Alertcondition that can be picked up by the TradingView Alarm system.
TIP: To get 10pip Bricks set Renko to "Traditional" type bricks and 0.001 for non-JPY currency pairs, and 0.1 for JPY currency pairs. Also set chart Time frame to 5min or 15mins.
References:
TheLark Relative Momentum Index (RMI)
Trendy ADX DI+ DI- Trend Strength - BonavestTo add this indicator to your charts:
Click the 'Add to Favorite Scripts' button down below this description.
Trendy ADX is a lower indicator that is used to determine strength of trends. The DI+ and DI- lines cross one another depending on the trend direction based on the Length input with the current trend, DI line, being on top or higher.
The ADX line shows the strength of the current trend, with a value over 20 being a trend with growing strength. Trends with ADX less than 20 are said to not be strong enough to be traded as well as if the ADX is less than both the DI+ and DI- even though it is higher than 20.
An added number value that is not a part of the typical ADX/DI indicator is the 'Score'. This is a value that ranges from -3 to +3 including 0. This score allows you to set alerts based on Score and be alerted when a certain level is reached. The Score values are fully configureable in the Input Settings screen.
The Length setting is the only important adjustment for the indicator itself. The 3 suggested values to use are 7, 11 and 20 (default 11).
The Threshold setting is purely for visual adjustment of the yellow dashed line (default 20).
I use this indicator for:
Keeps me in a trade longer to capture long trends
Determining if the current trend has more room to continue
Filter out reversal buy/sell signals if trend is just beginning
My observations in using this indicator is to ignore reversal signals if the ADX line has not crossed above the DI+ or DI- line of the current trend (red/green background). I also expect a small pullback or sideways price action when the ADX line does cross the current trending DI line.
There are 2 Built-In Notifications already created for you and are available by simply right clicking in the indicator area and selecting:
Condition: Trendy ADX
Then 1 of the 2 Alerts:
Trend Direction Change - Score crosses 0 changing to 1 (green/UP) or -1 (red/DOWN)
Trend Strength Change - Score changes in any direction by a value of 1
How to Trade the Average Directinal Index Video: youtu.be
This adaptation was based off of the original code from @MasaNakamura.
cooltoyz: The Turtle SurferThis strategy applies the old tested turtle trading strategy, defining a channel and riding the trend, but
It has some twists tough, to make it adapt on the fly to changes in market conditions.
Since all parameters can be adjusted from the inputs, the strat can (and needs) to be fine tuned for the current values of an asset. for example, for gold values, it works good for years. for btc, it breaks for dates with values under 1500$. that's because 1% of 800 is not the same as 1% of 2400$..... Yeah, data fitting, i know all that....
Some of the parameters work well only for low volatility markets, others are designed exactly to capture volatility. So the parameters must be tested, turned on-off to see how well they do. The default values ARE NOT a generic good for all, most surely.
The Turtle Surfer moves slowly, but it's prepared to rabbit jump in/out if some moon/doom event shows up without invitation :)
If you want to play with the strat, start with all checkboxes off, then turn on/off each one and see the results for the asset you want.
I have had good results in xau, btc and eth
RSI based trend follower
I'm a fan of "less is more". This indicator doesn't mess up your chart with lines, symbols, moving averages or such; it doesn't even add another oscillator in a separate window, letting you focus only on what is most important: price action. It will silently do its job by plotting an arrow (upward arrow for long triggers and downward arrow for short triggers).
It works really great with strong trending markets on higher time frames, so it gives its best on Stocks on a daily/weekly frame; consider it a long term trading indicator.
Mongerskit Trading System v2.2 Final revisionThis is the latest version without any reported bugs, we have also increased the accuracy by at least 10% compared to ver 1.0 and older versions. numerous tweaks have been done on this and we are going to keep this stable version, till we work on future updates for later.
(USABILITY)
- Use this system in conjunction to your technical analysis to achieve optimal performance.
- Best time frame is 4 hours and 12 hours.
- DO NOT use the system with pairs that are consolidating.
(CHANGES)
-v2.2
- final tweaks are done to this revision
- few appearance changes
- minor reported bug fixes
-v2.1
-changed the sensitivity a little more.
-fixed all the reported bugs and issues
-fixed a problem with chart scaling down when using the indicator
-fixed some typo with signal text
-v2.0
- changed the sensitivity and few settings, signals are much more accurate.
- made a few appearance changes.
- Signals may appear less then before but they are much more accurate, use 4 hour and 12 hours together to determine best entry.
- this is the Dark theme, I will release the Light theme too for the ones using lighter background colors.
v1.1
-fixed the amount of times the signals are shown
-fixed some color issues
v1.0
This is the first edition of Mongerskit trading system. this is not a very accurate version, this version completely free to use, you can find it in the public library under "Mongerskit" name.
you can request for invitation in the comment section, but you have to leave a review after testing the system out.
the invitation is for a short while just for you to test out the indicator, if you enjoyed the indicator, PM ME.
all members that requested permission in previous versions, should already have access to the new version.
Mongerskit.com
Pullback Trading Tool R5-65 by JustUncleLBy request this is an updated version of the "PullBack Trading Tool": removes experimental "OCC" channel, added option to display ribbons or just single moving average lines, added alert arrows for "PB" exits, added alertcondition for TV alarm subsystem, added some extract options for Pivot points and general cleanup of code.
Description:
This project incorporates the majority of the indicators needed to analyse and trade Trends for Pullbacks, swings and reversals.
Incorporated within this tool are the following indicators:
1. Major industry (Banks) recognised important EMAs in an EMA Ribbon:
Lime = EMA5 (Optional Display)
DodgerBlue = EMA12 (Optional Display)
Red = EMA36 (Optional display)
Green = EMA89
Blue = EMA200
Black = EMA633
2. The 5 EMA (default) High/Low/Close Price Action Channel (PAC), the PAC channel display is disabled by default.
3. Optionally display Fractals and optional Fractal levels
4. Optional HH, LH, LL, HL finder.
5. Optional Buy/Sell "PB" exit Alerts with Optional 200EMA filter.
6. Coloured coded Bar high lighting based on the PAC:
blue = bar closed above PAC
red = bar closed below PAC
gray = bar closed inside PAC
7. Alert condition sent to TradingView's Alarm subsystem for PB exits.
8. Pivot points with optional labels.
9. EMA5-12 Ribbon is displayed by default.
10.EMA12-36 Ribbon is displayed by default
Set up and hints:
I am unable to provide a full description here, as Pullback Trading incorporates a full trading Methodology, there are a number of articles and books written on the subject.
Set the chart to Heikin Ashi Candles (optional).
I also add a "Sweetspot Gold R3" indicator to the chart as well to help with support and resistance finding and shows where the important "00" lines are.
First on a weekly basis say Sunday night or Monday morning, analyse the Daily and Weekly charts to establish overall trends, and support/resistant levels. Draw significant mini trend lines (2/3 TL), vertical trend lines (VTL) and S/R levels. Can use the Pivots points to guide VTL drawing and Fractals to help guide 2/3 TL drawing.
Once the trend direction and any potential major reversals highlighted, drop down to lower timeframe chart and draw appropriate mini Trend line (2/3 TL) matching the established momentum direction. Take note of potential pull backs from and of the EMAs, in particular the EMA5-12 ribbon, EMA12-36 Ribbon and the 200EMA. Can use the Pivots and/or Fractals points to guide your 2/3 TL drawing.
Set a TradingView alarm on the "PBTOOL alert", with the default settings this normally occurs before or during the Break of the manually drawn TL lines.
Once alerted check to see if the TL is broken and is returning to trend away from the EMA lines, this is indicated by bar colour change to trend directional colour.
You can trade that alert or drop down to even lower time frames and perform the same TL analysis there to find trades at the lower TF. Trading at lower TF you will allow tighter Stop loss settings.
Other than the "SweetSpot Gold R3" indicator, you should not need any other indicator to successfully trade trends for Pullbacks and reversals. If you really want another indicator I suggest a momentum one for example: AO ( Awesome Oscillator ), MACD or Squeeze Momentum.
ZTLs Master Trend IndicatorIndicator utilizing a flexible renko (and other indicators assembled in a proprietary way) to "soften" the turbulence. A down-turn in renko combined with a red color signals a sell. An up-turn in renko combined with an aqua color signals a buy. Manually backtested: SPY, JNK, from May 2015 to present: 40%, 24% respectively. Can be used for day-trading or position trading. Has customizeable settings to suit your style. NOT SUITABLE FOR FOREX. (at least not tested)
TrendAlertTrend Alert indicator based on Long term (daily) en Mid term (4h) timeframes so you can enter a trade in direction of the trend at the Short term (1h) timeframe in direction of trend. You can configure the LongTerm en MidTerm timeframe to your liking. Method by Jospeh Nemeth www.youtube.com
B3 Edge Trail-TraderAnswer to the locked strategy... Formerly "High-Low Trader" .. Changed the name to Edge Trail Trader to delineate from the locked version, which is no different. You can add this one to your favorites now.
Similar to SuperTrend or the ATR trailing stop lines that are common-place in chart indicator circles, the B3 High-Low Trail-Trader works as a back-break line to flip binary long and short biasing. Here is the strategy set to 7 bars back. You can find this style of trading system in several books, and there are many ways to come to the trailing stop line, so I imagine the bars back length can be slid around to suit certain charts. This happens to be my favorite trailing line.
Gleeson Trend Tracker (GTT) IndicatorComprehensive Trend Trading System Indicator made up of the four components to help you successfully trade market trends:
Entry Signals (Green & Red Arrows)
The entry arrows indicate entry conditions are present. Green for long entries and red for short entries. If you already in position in the direction of an entry signal, ignore it. Switch to position maintenance mode for that market once trading a market.
Current Trend Status Channels (Red/Green Overlay)
The channel overlay is intended to indicate whether the market has recently trended up/down. Green if moving higher, Red if moving Lower. Channels make it easier to visualise current & previous price trajectory.
On Close Stop Loss (OCSL) / Price Average (40 MA) Blue line
This acts both as the "line in the sand" in relation to trend direction but also importantly as your (OCSL) or sometimes also known as mental stop. If price closes beyond this line in the opposite direction to your position, exit the position. It's important to wait for price to close (this methodology works best on weekly charts so make entry & exit decisions when the market is closed). This method works best if you risk 1% per trade using the distance from entry price to the OCSL as your pre-defined risk, back-analysis confirms this.
Hard Stop Loss Red line
This line is your circuit breaker intended to protect your capital from sudden adverse moves. This line serves as the price for your fixed or hard stop loss point that should be entered with the order. The formula behind this line is risk * 2 (so 2% if you risk 1% between entry price and OCSL). HSL is your safety net, always use it.
Some other advice on how to trade this methodology:
Analysis Sunday, entries & exits Monday (so you can also have a life)
Do not pyramid with this system, it works best with individual entries spread across a range of markets including FX, Indices, Commodities and Interest Rates.
Risk only 1% per trade
This methodology works best over weekly/monthly charts. You want to capture moves that last weeks/months/years. I would not advise day trading this system.
If you have any feedback or need further help, email me at me@jackgleeson.co.uk
Good Luck!
Scalping PullBack Tool R1 by JustUncleLDescription
This study project is a Scalping Pullback trading Tool that incorporates the majority of the indicators needed to analyse and scalp Trends for Pull Backs and reversals on 1min, 5min or 15min charts. The set up utilies Heikin Ashi candle charts. Incorporated within this tool are the following indicators:
1. Major industry (Banks) recognised important EMAs in an EMA Ribbon:
Green = EMA89
Blue = EMA200
Black = EMA633
2. The 36EMA (default) High/Low+Close Price Action Channel (PAC).
3. Fractals
4. HH, LH, LL, HL finder to help with drawing Trend lines and mini Trend Lines.
5. Coloured coded Bar high lighting based on the PAC:
blue = bar closed above PAC
red = bar closed below PAC
gray = bar closed inside PAC
red line = EMA36 of bar close
Setup and hints:
Set the chart to Heikin Ashi Candles.
Add "Sweetspot Gold10" indicator to the chart as well to help with support and resistance finding and shows where the important "00" and "0" lines are.
When price is above the PAC(blue bars) we are only looking to buy as price comes back to the PAC
When price is below the PAC(red bars), we are only looking to sell when price comes back to the PAC
What we’re looking for when price comes back into the PAC we draw mini Trendlines utilising the Fractals and HH/LL points to guide your TL drawing.
Now look for the trend to pull back and break the drawn TL. That's is when we place the scalp trade.
So we are looking for continuation signals in terms of a strong, momentum driven pullbacks (normally short term 10-20 pips) of the EMA36.
The other EMAs are there to check for other Pullbacks when EMA36 is broken.
Other than the SweetSpot Gold10 indicator, you should not need any other indicator to scalp the pullbacks.
References:
Fractals V8 by RicardoSantos
Price Action Trading System v0.3 by JustUncleL
SweetSpot Gold10 R1 by JustUncleL
www.swing-trade-stocks.com
www.forexstrategiesresources.com
Tabajara by André MachadoAmigos da comunidade TradingView que me pediram o Setup Tabajara, segue ele aqui para uso livre e educacional!
Na verdade é um Setup de Finanças Comportamentais, ou o que chamo de Setup Ansiolítico!!!
O meu Trading System é 100% discricionário e 100% baseado em AT clássica, Teoria de Dow pura, ou o que chamam de Price Action. Simplesmente uso as MMA20 e MMA200 para me mostrar a tendência, evitando assim operar contra. E tb usando o conceito matemático de "regressão à média" e operando as reversões nelas. Enfim, muito básico mesmo. Por isso o nome Tabajara, porque não tem nada de novo! O jogo de cores é só para gerenciar mesmo a ansiedade e forçar a disciplina e a paciência!
E aproveito para agradecer ao Filipe Ramos, da TradingView Brasil, por ter criado o setup Tabajara a meu pedido!
Pump_Doctor Trends**You must enable bar colors in the options for the script if you wish to see them**
This indicator is very useful for spotting trends / tops / bottoms.
This is the ultimate altcoin pump spotting tool. Use on higher timeframes for greatest accuracy. If altcoin is newish (ZEC for example), try 4h rather than 1D or 3D.
Green = Uptrend
Red = Downtrend
Gray = Top/local top, bottom/local bottom, or continuation. You will need some knowledge of price action to determine which condition applies.
You can use the oscillator at the bottom as a measure of momentum / trend strength. You can draw trendlines on the oscillator on the top/bottom or the interior.
Modified Moving AverageUsed for the same reasons as the typical moving average. The first point is equal to the SMA, but it uses a recursive approach to calculate all subsequent data points.
[STRATEGY][UL]Price Divergence Strategy v1.0Created by Request: This is a trend trading strategy that uses Price Divergence detection signals that are confirmed by the "Murrey's Math Oscillator" (Donchanin Channel based).
Strategy Code Based on:
Price Divergence Detector V2 by RicardoSantos
UCS_Murrey's Math Oscillator by Ucsgears
Strategy Risk Management Based on:
Strategy Code Example by JayRogers
Information on Divergence Trading:
- www.babypips.com
*** USE AT YOUR OWN RISK ***
[STRATEGY][UL]QQE Cross v1.1Updated by request: this is a "Strategy" trading version of the "QQE Cross Indicator Alert v2.0 by JustUncleL" (which is mainly for Binary Options trading), the same BUY/SELL signals are used to generate trade entry and exit conditions. Thanks again to JayRogers for making the Strategy risk management easier to understand and implement.
In this update I have added "Take Profit" option and cleaned up the risk management code. Also changed the close BUY/SELL order if EMA20 direction changes rather the next BUY/SELL opposite signal, making the close earlier.
BE ADVISED TO USE AT YOUR OWN RISK, even though back testing has shown good results, I don't have any Forex trading account to forward test against. You need to perform these test yourself and get back to me if there is any issues.
QQE Cross Indicator Alert v2.0 by JustUncleLThis version of the indicator makes a distinction between the types of QQE cross alerts on the chart and now only recommends the Thresh Hold channel exit crosses for BUY/SELL alerts, the other two types of crosses are still there to provide pre-warning of pending BUY/SELL alerts. Also only the BUY/SELL alerts are filtered by Moving Average Filter and/or the new Directional filter (default). The default settings in this version have also been changed, particularly the Moving Averages, to indicate trend changes quicker.
Indicator Project Description:
*** This is a trend following indicator alert that uses fast QQE crosses with Moving Averages for trend direction filtering. QQE or Qualitative Quantitative Estimation is based on the relative strength index, but uses a smoothing technique as an additional transformation. Three crosses can be selected (all selected by default):
RSI signal crossing ZERO (XZERO)
RSI signal crossing Fast RSIatr line (XQQE)
RSI signal exiting the RSI Threshhold Channel (BUY/SELL)
The (BUY/SELL) alerts can be optionally filtered by the Moving Average Combo:
For BUY alert the Close must be above the fast MA and
fast MA (EMA8) > medium MA (EMA20) > slow MA (SMA50).
For SELL alert the Close must be below the fast MA and
fast MA (EMA8) < medium MA (EMA20) < slow MA (SMA50).
and/or Directional filter (default filter):
For BUY alert the Close must be above the slow MA (SMA50) and the directional MA (EMA20) must be green.
For SELL alert the Close must be below the slow MA (SMA50) and the directional MA (EMA20) must be red.
The XZERO and XQQE are not included in the filtering, they are used to indicate pending BUY/SELL alerts, particularly the XZERO.
Note: I have found the XQQE cross can also be quite good alert for BUY/SELL as well, particularly in direction of current trend. The XZERO I have found to be totally unreliable for BUY/SELL alerts.
This indicator should work on any currency pair, most chart timeframes and expiry in 3 to 6 candles for binary option trading. For hourly or longer charts expiry can be longer for binary options, or if available use standard forex trading techniques
Some Hints for using this indicator:
Avoid taking trades in non-trending market, this is normally indicated by a near Horizontal SMA50 line.
Avoid trading when all the moving averages are close together.
When trading 1min and 5min charts, expiry should set to 1-3 candles.
Avoid trading when market choppy, this is normally indicated by the fast EMA8 crossing the EMA20 back and forwards quickly.
High probability trades tend to occur when you get a XQQE followed by a XZERO and then BUY/SELL in the same direction of trend.
Don't trade near nor directly on any major market news (sometime better no trade day).
Please practise this system in DEMO first, before committing any real money. Be patient the more you practise the better and more confident you will be.
I hope you enjoy this indicator, it has proven very effective for me.
Parabolic GlitterThis indicator overlays a series of Parabolic Stop And Reverses (SARs) to continuously illustrate trends as they form in addition to a range of good possible levels at which to place stop orders.
The Initial Start argument gives the minimum value for the SAR function's "Start" argument. The Increment/Start Ratio argument gives the ratio of the SAR function's "Increment" and "Start" arguments (i.e. SAR default is Start = 0.02, Increment = 0.02, therefore Increment/Start Ratio = 1). The same logic applies to the Max/Start Ratio Argument (i.e. SAR default is Start = 0.02, Max = 0.2, therefore Max/Start Ratio = 10).
The Adaptive Coloring argument determines whether the plotting points are red in downtrends and green in uptrends, or if all the plotted points are given the same color (defaults to silver).
ROC TideAdds some depth to the traditional rate of change (ROC) indicator. Instead of just having one ROC line with a single lookback period, this takes a minimum lookback period, n , and plots 20 ROC lines with lookback periods of n, 2n, 3n, ..., 20n . These lines will appear green when greater than zero, red when less than zero, and yellow when equal to zero by default.
Then it plots the average of those 20 ROC's as a yellow filled area so as to make it easier to see where the balance (or "tide") of the ROC waves are located.
