Comprehensive Technical Analysis

20 juil.

Comprehensive Technical Analysis Script

Overview
This Script for TradingView is designed to perform and display a detailed technical analysis using a range of moving averages and oscillators. The script provides a summary of market conditions based on various indicators to help traders make informed decisions.

Key Features - Technical Indicators:

Moving Averages:

1. Simple Moving Average (SMA): Calculates the average price over a specified period.
   
2. Exponential Moving Average (EMA): Reacts faster to recent price changes by giving more weight to recent prices.
   
3. Weighted Moving Average (WMA): Weighs prices based on their position, giving more importance to recent prices.
   
4. Hull Moving Average (HMA): Reduces lag and provides a smoother trend line.
   
5. Triple Exponential Moving Average (TEMA): Combines three EMAs to minimize lag and offer a responsive trend indicator.
   
6. Exponential Moving Average of an Exponential Moving Average (EMAX): Applies an EMA twice to smooth out trends further.
   
7. Triangular Moving Average (TMA): Provides a smoother moving average by averaging over a triangular window.
   

Oscillators:

1. Relative Strength Index (RSI): Measures the speed and change of price movements to identify overbought or oversold conditions.
   
2. Stochastic Oscillator (%K): Compares a security’s closing price to its price range over a specific period to spot potential reversal points.
   
3. Commodity Channel Index (CCI): Identifies cyclical trends and measures the deviation of the price from its average.
   
4. Moving Average Convergence Divergence (MACD): Shows the relationship between two EMAs to identify changes in trend strength, direction, momentum, and duration.
   
5. Awesome Oscillator (AO): Measures market momentum by comparing two different moving averages.
   
6. Average Directional Index (ADX): Determines the strength of a trend and whether the market is trending or ranging.
   
7. Williams %R (WPR): Identifies overbought and oversold levels with a different calculation approach compared to the RSI.
   

Point System - Indicator Points:
Bullish Signal: Each indicator contributing to a positive market sentiment adds points.
Bearish Signal: Each indicator contributing to a negative market sentiment subtracts points.
Point Calculation:
Moving Averages: Points are assigned based on whether the current price is above or below each moving average.
Oscillators: Points are assigned based on whether the oscillator values are in bullish or bearish zones.

Summary Text:

Categorization: Based on the total points calculated from all indicators, the market condition is categorized into:

1. Strong Bullish: More than 8 points
   
2. Bullish: Between 3 and 8 points
   
3. Neutral: Between -2 and 2 points
   
4. Bearish: Between -3 and -8 points
   
5. Strong Bearish: Less than -8 points
   

Text Display: The summary text reflects the overall market sentiment and is color-coded for easy interpretation.

Table Display - The Position of the table can be customized by the user:
Vertical: Options include Top, Center, Bottom
Horizontal: Options include Left, Center, Right

Table Content:
Summary Text and Points: Displays the summary of technical indicators along with the calculated points.