This script is very much beta!
This is a simple script to visualize how two symbols move in relation to each other. For example if the underlying symbol is a 2x Gold ETF (meaning the ticker moves at 2x the spot price of gold---if gold goes up 3% this ticker should go up 6%) and the comparison symbol is an 2x inverse gold ETF (at gold up 3% this should move down...
This is my variation of the Correlation Coefficient and I call it "Hershey's CoCo". The indicator identifies very specific Stock, Sector and Market pressures on whatever symbol you are evaluating.
If interested, follow me and send me requests to evaluate your stock or sector as I refine this tool.
Kendall Rank Correlation Coefficient script.
This way to measure the ordinal association between two measured quantities described by Maurice Kendall (1938, Biometrika, 30 (1–2): 81–89, "A New Measure of Rank Correlation").
In this script I compare Kendall Coefficient and Pearson Coefficient (using built-in "correlation" function).
This script allows for the comparison of current volume to the past 10 days of volume at the same time of day. Currently the only time frame options available are 15m and 30m. The bar coloring is related to if the volume is > the avg_vol and the close is > or < the previous close.
FYI because volume data trickles in over time and the bar coloring relies on close...
Comparison of two trading instruments using the indicator. Visual comparison often does not provide complete information. The scale and amplitude of the fluctuations of the two trading pairs are very different. Therefore, it is better to compare indicators from these pairs. I have used for this purpose, the speed indicator of price movement wt. The red line is the...
This will plot your choice of OHLC (or any of the averaging choices) of the current candle compared to the previous candle.
For example if you choose "high" for the input and set the chart to daily, you'll see the currently daily high vs the previous daily high.
Green candle represent a higher high and the length of the candle represents how much higher.
Easy to use RSI and Stoch
Setting Menu has an option to toggle the RSI and Stoch ON and OFF for your own preference.
Great for reducing clutter when comparing oscillators, while giving the ease of use to just click the toggle option instead of having to find and reset your indicator settings.
Colour schemes adjustable in Settings Menu for personal...
A multitool to find seasonal effects and components in your time series. Seasonality is one of most frequently used statistical patterns to improve the accuracy of demand forecasts.
To learn more about seasonality see:
Ability to see up to 16 period...
When running MACD, it can be useful to compare the value of the MA difference to other values. In other words, is a particular stock or futures contract at a more extreme MACD value than another. This can be done by dividing by the price, however, that doesn't adjust for volatility differences. Using ATR, one can adjust for price and volatility at the same...
I compared custom median (using the sorting solution by @apozdnyakov) with built-in median (using percentile_nearest_rank function)
If you see the zero line this means the solutions give the same results.
The best results was achieved on the odd lengths.
1) Do not try to reinvent the wheel.
2) Always check the Pine Script docs to find already...
Early version of a script to compare one currency against multiple to get an index.
Default values loaded basically make something along the lines of, "USD global exchange rate"
I plan on making this less clunky/messy in future with respect to the coding and the user inputs. Works 100% right now though.
This script allows you to specify a security to overlay on your chart when viewing a certain symbol. The line will only show on that symbol, change symbols and it will disappear. I found that adding more than 4 lines will slow load time significantly, however if you can code it to be faster please let me know!
All credit to @gyromatical, a good samaritan.
This one compares the total candle height (Low to High), body size, also top and bottom wick sizes. I really don't know when it would be best to use this, but it gives a 0 baseline to compare candles side-by-side also to compare body size to wick size.
- The tallest of course is high minus low
- whether or not the close is above the open, the body...
Relative strength is a ratio between two assets, most often a stock and a market average (index). This implementation uses the method described here and the second method described here to calculate its value: "To calculate the relative strength of a particular stock, divide the percentage change over some time period by the percentage change of a particular...
This Indicator will be the most simple form of this code, with Silver and Gold versions to come.
Tracked Security - BTCUSD in this example but can be changed anything.
Index - Current Security / Tracked Security
Inverse Index - (1 / Index)
(Current Security = ETHUSD in this example)
Works across all periods and Securities.
Can format lines and colours, but won't...