VMA Bands are ATR bands with VMA as its centre. For a description of options, refer to my VMA post:
I have moved VMA calculation in to a separate function. Feel free to use calc_vma() in your scripts. For more MA calculation function (KAMA, VIDYA and others), refer to my complete list of indicators below.
Wish you all...
RSI bands provide an intuitive way of visualizing how the price movement causes RSI to move with in its range (0-100). Upper/Lower bands signify overbought and oversold levels respectively (Default: 70/30, you can customize them via options page). These bands closely match what Constance Brown explains in her book "Technical Analysis for the Trading Professional"....
This indicator takes market volume and organizes it into wave charts, clearly highlighting inflection points and regions of supply/demand.
Try tuning this for your instrument (Forex not supported) by adjusting the "Trend Detection Length". This "clubs together" minor waves. If you like an oscillator-kind-of display, enable "ShowDistributionBelowZero" option....
Recently we developed a chrome extension for automating TradingView strategies using the alerts they provide. Initially we were charging a monthly fee for the extension, but we have now decided to make it FREE for everyone. So to display the power of automating strategies via TradingView, we figured we would also provide a profitable strategy along...
This is ATR in pips. This was requested by user @ElixiumCapital. ATRPIPs in his words:
"ATR PIPs is useful for finding markets with your desired amount of volatility, for example I prefer to trade forex pairs with the highest amount of volatility in the past 5 days, setting the length parameter to 5 days. And setting my stop loss at 25% to 33% of the the...
Volume-Weighted MACD Histogram
Volume-Weighted MACD Histogram, first discussed by Buff Dormeier, is a modified version of MACD study. It calculates volume-averaged Close price for finding the histogram.
Edgar Kraut proposed this simple colored volume bars strategy for swing trading.
This is how the colors are determined:
- If today’s closing price and volume are greater than 'n' days ago, color today’s volume bar green.
- If today’s closing price is greater than 'n' days ago but volume is not, color today’s volume bar blue.
- Similarly, if today’s closing...
This is a famous trend indicator in MT4 platform. Is this better than other MA based trend systems? I will let you decide that :)
- Trend mode: This is the default. Draws a trend line (like MA) and colors them based on the trend.
- Ribbon Mode: Shown at the bottom pane. No trend lines are drawn.
- OverlayMode: Bars are colored based on the...
One more to add to the Ehlers collection.
Ehlers Instantaneous Trendline, by John Ehlers, identifies the market trend by doing removing cycle component. I think, this simplicity is what makes it attractive :) To understand Ehlers's thought process behind this, refer to the PDF linked below.
There are atleast 6 variations of this ITrend. This version is from...
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...
Elastic Volume Weighted Moving Average (eVWMA) is a statistical measure using the volume to define the period of the moving average. The eVWMA can be looked at as an approximation to the average price paid per share. Multiplier is usually the number of shares, but it can be approximated using cumulative sum of volume (Enable it via "Use Cumulative Volume" option)...
Here's an oscillator derived from my previous script, Cycle Channel Clone ().
There are 2 oscillator plots - fast & slow. Fast plot shows the price location with in the medium term channel, while slow plot shows the location of short term midline of cycle channel with respect to medium term channel.
Usage of this is...
The PSO, developed by Lee Leibfarth, is a rewired version of a short-period stochastic. This provides a quick response to changes in market direction. This highly sensitive indicator allows for early anticipation of price turns and can be used to establish definitive trading zones that identify potential trading opportunities.
Rules as suggested by Mr.Lee:
These indicators, from John Ehlers' book "Cybernetic Analysis for Stocks and Futures", are EMA alternatives.
The basic idea behind all these is to try to get smoothing with as little lag as possible. As you can see from the chart, they are much smoother, have better response, and a closer match to market prices.
Basically, all the responsiveness of a faster...
CM Time Based Lines
Requested by codetrader to Visually Show Day Change on Intra-Day Charts.
Custom Indicator: Ability To Plot Recurring Time Lines On Chart!
Example of Uses:
Plot Lines at Midnight to Show Daily Change.
Plot Lines at Opening of Different Sessions.
Plot Lines at Opening and Closing of Sessions.
Plot Lines Every 4 Hours (Forex) To See 4-Hour...
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...
This calculates normal distance of price from VWAP. This is a mean reverting idea (something like ZScore), but using both "volume" and "close".
Useful for finding OB/OS areas and potential turning points.
Complete list of my indicators:
This is a 3 EMA visualization tool. Relative momentum across 3 timeframes are rendered as A/B/C waves. Also, helpful in identifying spike/exhaustion bars.
When all the waves are in the same direction, the momentum is very high on that direction. I have made all options configurable, have fun tuning for your instrument :)
Complete list of all my indicators:...