This indicator colors the volume bars based on any of the three follow criteria:
- Volume Amount
- RVOL (Relative Volume)
- Lookback (Highest Over Period)
You can use one, two or all three of these settings at the same time.
You can also set alerts with this indicator. The script will trigger an alert whenever any of the three specified flags are triggered.
This is little code snippet can be copied and pasted into your own strategies and indicators to easily calculate some interesting percentage change levels within a given lookback period.
The function will return:
The price change from the start to the end of the period
The price change from the start of the period to the highest point within the period
@ChartArt got my attention to this idea.
This type of moving average was originally developed by Michael R. Bryant (Adaptrade Software newsletter, April 2014). Mr. Bryant suggested a new approach, so called Variable Efficiency Ratio (VER), to obtain adaptive behaviour for the moving average. This approach is based on Perry Kaufman' idea with Efficiency Ratio...
Demonstration of a new feature that allows to change lookback period dynamically, used with WMAs. Rather than WMA any one can be used here (SMA, Alma,...) as long as its second argument supports dynamic change. If not, you have to use your own implementation of MA.
There does not seem to be an offset for most Donchian Channel scripts out there. Many trading books have an offset of 1 but most Donchian Channels out there do not for some reason. I included one in case there is a need for it.
Based on the idea that some Donchian Channels in trading books have a lookback or offset of 1 in order to use it as a sort of trailing stop or so that the channels don't adjust. Ichimoku's Tenkan and Kijun lines have a very similar formula to Donchian Channels. In case anyone wants to use those lines as a sort of more fixed trailing stop, offset the Kijun, Tenkan,...
Super easy to use with 5 SMAs (Simple Moving Average) for different lookback periods: 5, 8, 20, 50 and 200.
The periods can be changed in the settings.
It also comes with different colours for each lookback period.
I also left some lines which care commented out using the double slash '//' in case one wants to add alerts. Some sample code is left - you can...