The purpose of this indicator is to visually simplify the relationship between two assets when searching for pair trades or higher beta opportunities.
With highly correlated pairs, it can be a blessing or a curse during volatility when you're somehow stuck in the only lower beta pairs, or maybe you're market neutral and the wrong leg starts nuking.
This script lets you chart a spread of a maximum of 3 tickers (one of them being the ticker in the main chart).
Y axis is the currency amount of the spread, that is calculated by this formula:
Y = PnL = quantity * price * handleValue
Y is calculated for each ticker specified, and the sum of Ys obtained is plotted.
this way it is possible to view the PnL of the...
This script helps you discern the relative change of each leg in a two-legged spread over a given period. The main plot is a difference in log return over the number of bars identified by the "lag" parameter. E.g. if "lag" is 10 and leg one has increased 3% over the past ten bars, while leg two has only increased 1%, the plot value is 2%. The main plot is also...
This indicator plots the close-spread relationship between two price series by calculating the change across two price series as a spread for each. Each spread is the rate of change in yesterday's closing price and the prior day's closing price. By default, weekend prices are defined to be 0.0 but can be included as user-definable input, if required.
Got a little board due to the lock-down so I have written this little script.
It allows you to set PIP Bands at levels on the chart.
The Back Line is Close plus Spread, the Red Line is PIPs below and the Green Lines are spaced at PIPs above at equal distance.
The top four lines can be toggled off. Set off as default.
There is a toggle for JPY Currencies and...
This indicator shows the percent change between the highs and the lows (or optionally the open and close) of each candle. You may also set a low and a high percent threshold to better highlight the candles that exceed your desired spread percent. Red signifies low spread, green is high spread - these are unrelated to the color of the candle body. There is also the...
According to Anna Colling, we should analyze the spreads together with the volume "VSA", the work in this script was to make the study of the volume of visual form, in this way we focus only on the candle spread, since the volume is represented by colors and their respective activities
Red Candles = Ultra High Volume
Orange Candles = Very Hight Volume
Relatively simple indicator to help you visualize your spreads with two white lines on the chart. You can input up to ten symbol-specific presets along with one other that will be applied to all unspecified symbols. "Spread Visualizer" will only be helpful for those trading with fixed spreads. So, if your broker uses variable spreads, do not use this script.
Found an error in the orders. Script was making double orders at times. I fixed it. It is tuned as such:
15 min chart
starting $USD to show 1000 contracts for minicontract with FXCM (start date 3-18 $633 with 1:50 leverage)
Indicator plots ==> Starting equity - (trade gain and loses) - (number of trades) * (spread) = true balance estimate