A simple but effective Forex strategy requested by user @pipcollector.
Suggested chart timeframe is 5mins.
Indicator marks potential long/short entries based on the following conditions:
Price above pip median ema on daily, 4 hour and 1 hour timeframe. These 3 timeframes and median EMA lengths are configurable.
Background color is set to...
Short-term Volume and Price Oscillator (SVAPO), developed by Sylvian Vervroot, combines both Price and Volume to construct an oscillator. In essence, when the price is trending up and volume is increasing, volume is added into the oscillator calculation. Conversely, when price is trending down and volume is increasing, volume will be subtracted from the...
This oscillator is derived from Absolute Strength Index, originally developed by Tudor Marcelin (Art Invest).
I made it an oscillator mainly to make it easy to identify the divergences and price-flows. There is not much documentation available online for Absolute Strength Index afaik, lets hope Mr.Tudor comes across this and provides us a detailed writeup...
--- Updated: May 19 2015 ----
Applicable only If you are setting up alerts:
I noticed I have switched the plot names. Histo shd be the MACD and DMACD shd be the Signal.
Replace lines 16 & 17 with these to get the correct names. NOTE that no functionality is affected, just the names.
plot(r, style=columns, color=r>0?green:red, transp=80, title="Dinapoli...
By 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.
Market temperature, introduced by Dr.Alexander Elder, helps differentiate between sleepy, quiet and hot market periods.
Following is Mr.Elder's explanation on how to use this indicator (from his book "Come in to my Trading Room"):
"When markets are quiet, the adjacent bars tend to overlap. The consensus of value is well established, and the crowd does little...
This indicator was designed to work in real time, and needs the "calculate on every tick" turned on. It verifies if the volume from the current candle is increasing more or less than the average.
Example using 5 min. candles:
1 minute is 20% of the time for the candle. So, if the volume is at 20% or below of the vol.average, the market is stable(price not moving...
Heard this story from Larry Williams…the trader who holds the record for winning the U.S. Trading Championship by turning $10K in to 2 Million.
A trader named Owen Taylor developed this formula as a Floor Trader before to calculate the Projected High and Low of the next day.
The formula worked so well…Owen charged other Traders 1K to get it.
I was pretty...
Market Direction Indicator (MDI), by Donald Lambert, is an extension of simple moving average cross over systems. Series of price cross over points are determined to derive MDI.
Note that the short/long lengths will differ between instruments. They need to be tuned properly.
I have added an option to specify a "cutoff" parameter. When MDI is in the cutoff zone...
TMF is a CMF (Chaikin Money Flow) variation that addresses some of the gaps in the original indicator. More info: www.incrediblecharts.com
TMF uses true range, rather than daily Highs minus Lows. Also, uses Wilder's MA rather than SMA/EMA.
Since I had to write Wilder's MA (WiMA) for TMF, I have published that also as a...
RSX is a "noise free" version of RSI, with no added lag. This is a port of a clone to Pine.
Use this indicator just like RSI. I have set the default length to 14, feel free to experiment. You can reduce length with out worrying about jaggedness.
Options page has all the configurable parameters. You can use the plot names to setup alerts.
I have couple of...
Accumulation Swing Index
ASI is a cumulative sum of swing index, developed by Wilder. ASI attemps to show the "real market" by quantifying price. This allows the use of classic support/resistance analysis on the index itself. Typical analysis involves looking for breakouts, new highs and lows, and...
DecisionPoint Swenlin Trading Oscillator can be used to identify short-term tops and bottoms. This is a breadth indicator. STO is designed to be calculated using either issues or volume, I will post a follow up indicator that makes use of volume.
You can read about the interpretation of the signals (& gotchas) in the link below.
I have added support for NYSE /...
Volatility Quality Index (VQI), by Thomas Stridsman, points out the difference between bad and good volatility in order to identify better trade opportunities in the market.
This plots 3 lines:
- Red line is the VQI (actually, sum of VQI).
- Green line is the 9-period SMA of sum_of_VQI.
- Orange line is the 200-period SMA of sum_of_VQI.
Stridsman suggested to...
This indicator is a composite of MACD and Z-Score (requested by @ChartAt). The general idea is that counter-trend component of the Z-score is used to adjust/improve the trend component of the MACD. The advantage is that it is a more accurate and “assumption-free” and can more accurately describe how a market or stock actually works in a given time frame.
*** Full description in the comment below ******
This chart has 3 indicators:
- Chande's R2
- Inverse Fisher Transform on CCI
Feel free to "make mine" (click on the SHARE button) and use these indicators in your charts.
Another famous Ehlers indicator.
This is the adaptive version of Ehlers' Cyber Cycle (CC) (already published, check "More info" below). Idea behind making something "adaptive" is to calculate it using dynamic cycle period inputs instead of static setting. In adaptive cyber cycle, Ehlers uses the dominant cycle period as the length in computation of...
Price-Volume Rank, designed by Anthony J. Macek, compares the direction of the change in price (up or down) to the direction of the change in volume and assigns a number to that specific relationship. By quantifying price/volume interaction, P-V rank seeks to determine our position within a typical market cycle.
The various modes shown on the chart above or...