This indicator measures the vertical distance form the current close to the MA of your choice. I find that it does not work best as an oscillator, but it works well for providing early signals for taking profits when trend continuating. For example, if you go short due to a retracement to the MA (of your choice) take profits when a bearish trendline is broken...
Exponential moving average of 200 periods, which changes color according to the position of the candles.
(200 periods: default configuration Option to change periods allowed)
If the candles are on the EMA, this will have green color, otherwise red color (colors, thickness...
Works best on the longer-time frames to let you know if were in a bullish or bear cycle.
Green Bars / Candles on D W M indicate a strong bullish trend
Red Bars / Candles on D W M indicate a strong bearish trend
This script helps eliminate a lot of false color signals on your chart so its clear to see whats happening on the longer time-frames.
Works with all...
Firstly, 100% of the credit goes to Greg Morris @ Stockcharts.com for the article detailing the concept and most of the settings/components. I've simply implemented his idea. I haven't sought permission from him, but given that he was open with the components of the indicator I'm assuming he's happy for me to go ahead and code this in pinescript. See the article...
Dragon-Script is a framework to make it as easy as possible to test your own strategies and set alerts for external execution bots. This is the alerts version of the script.
The script has many features build in, like:
1) A ping/pong mechanism between longs and shorts
2) A stop-loss
3) Trailing Stops with several ways to calculate them.
4) 2 different ways to...
// Fixed error message "Index should not be negative(-8)"
// @author lonestar108
study(title = "3/9/27/9 Zero Lag EMA / EMA / Pivots / Dynamic Support", shorttitle="3/9/27/9 ZLEMA/EMA/Pivots/Support", overlay=true)
lengths=input(3, title="Short Period Length")
length=input(9, title="Fast Period Length")
length2=input(27, title="Slow Period...
type: alert creation
required time: 5 minutes
Getting alerts for indicators and strats is good to easy the eyes of the charts for a while :)
After my first script itroducing how to do alerts here there is an easier, more clear way to create an alert. It's still good to do it the "old way" to understand/debug an alert, but after that you'll want this...
The ‘Mayer Multiple’ is one of the most popular metrics and derives from the current price divided by the 200-day moving average (200-MA). The average value is 1.39, and historically, when it becomes equal to or greater than 2.4 it will retrace to under 1.5.
Simulations performed by Trace Mayer determined that in the past, the best long-term results were achieved...
updated my on screen options
added chris moody's day of the week - added that option so that day range can be seen easily - credit to chris moody.
also have favoured EMAS and bollinger band so that 3 indicators can be used on accounts with 5 indicator options.
colours can be changed in the script so ones that suit white back grounds or can save a template...
I created this tool for the purpose of determining strongest and weakest currencies over different periods of time. Each major currency is compared to the field of other majors and its average change is measured over a predetermined period of time. The result is displayed as a percentage. I use it for trend following but it can also be used to fade...
What is a Source?
This is the module where the indicators are built. In other words, the main logic of a trading system. This where entries and exits takes place.
In this case, we have pre-built an external Quansium Source, where the user can enter basic signals without the need for any code of signal management at all.
Why should I use this?
When building a...