The candle strength indicator depicts the average strength of the price action by evaluating bullish vs bearish candles.
The scale is relative to price fluctuation and the size of the candles for the particular ticker / market, so there are no significant levels.
A cross on the zero line would generally indicate a change in trend / sentiment.
This script it's created to send open-close signals via webhook. It allows you to open a relative value position based in the relative graph. You can set the TP and SL levels and the script will send the signal to your exchange.
Due a pine limitations it is necessary apply the script in the 2 different actives and set the alerts. You can just do the relative...
This indicator can anticipate the market movements. Its posible because it calculates how much force (volume) it's necessary to move the price up or down. If it's necessary a lot of volume to move the price a little it's a reversion signal, but if a little volume can change the price whit elevate volatility, it's signal of reversion too. The indicator plots red if...
As you probably know in TradingView there is a limit of 40 instruments in one custom screener.
I created a script that will allow you to scan more symbols.
The idea of it is pretty simple. You have to add a screener a few times on your screen with a different set of symbols. Then select column width (as % of your chart width) and # of the screener right to left....
Relative Volume or RVOL is an indicator used to help determine the amount of volume change over a given period of time.
It is often used to help traders determine how in-play a ticker is.
General rule of thumb is the higher the RVOL, the more in play a stock is.
I myself like to use it as a substitute of the volume indicator itself.
Volume can be a very useful tool if used correctly. Relative volume is designed to filter out the noise and highlight anomalies assisting traders in tracking institutional movements. This tool can be used to identify stop loss hunters and organized dumps. It uses a variety of moving averages to hide usual activity and features an LSMA line to show trend. Trend...
The script was hidden due to the reference link. Republishing without any links.
If you would like to know more about the formula, just google it. The script is based on the first few results from google search.
How to use: adjust the input number and timeframe. It means how far you would like to look back. e.g. weekly timeframe and 12 as input number mean you...
This tool displays relative volatility and directional trend. Excellent way to pickup diversions and reversals. Length can be lowered to 11 or 13 in settings to show price range.
Can be used to identify patterns such as parallel channels and likely direction of price action as pictured below.
Relative strength is a ratio between two assets, most often a stock and a market average (index). This implementation uses the method described here and the second method described here to calculate its value: "To calculate the relative strength of a particular stock, divide the percentage change over some time period by the percentage change of a particular...
This indicator calculates relative volume, which is the ratio of present volume over an average of past volume.
It offers two calculation modes, both using a time reference as an anchor.
The simplest way to calculate relative volume is by using the ratio of a bar's volume...
I have a thing for pivots and SR, so this is Tom DeMark Daily Retracements Levels pivots from DeMark Indicators book by Jason Perl.
Red lines -daily R
Green lines - daily S
Expect reversals or breaks at these points.
and some random stock, just test your instrument
I've seen several youtubers using 2 RSI's on top of one another to filter trades for their strategies. I figured I would just code it up as an all-in-one indicator for people who have the basic package. This way they have an extra slot for another indicator if they need one and also for convenience.
Longs only when RSI 1 is above RSI 2 and shorts only when...
Use this indicator to compare how security is performing in compare with preferred index (SPX by default).
> 0 outperforming
< 0 underperforming
Works best for weekly, but can be applied to monthly and daily charts. It will be rather useless to use it in smaller timeframes
Apply it to SPX, industry index, sector index or other security in similar sector
This is the best version of relative volume you can find a claim which is based on the logical soundness of its calculation.
I have amalgamated various volume analysis into one synergistic script. I wasn't going to opensource it. But, as one of the lucky few winners of TradingClue 2. I felt obligated to give something back to the community.
This is an update of the Relative Strength to index as used by Leaf_West.. 4th from the top. my original RS script is 3rd from the top.
In this use of the term " Relative Strength" (RS) what is meant is a ratio of one security to another.
The RS can be inerpreted in a fashion similar to price action on a regual security chart.
If you follow his methods be...
Relative volatility highlights large changes in price. This was designed to be used with my relative volume indicator so that traders can see the effect of volume on price action. It is also a good tool to analyse breakout patterns to identify best entry points and waves.
Above shows relative volatility and relative volume working together.
☑️ Show the divergences.
☑️ Shows the approximate price of an RSI level (by default it is level 55 but it can be changed for any other level).
☑️ Shows the bulls and bears zones, in green when crossing level 50 up and red when crossing down.
☑️ Circle the highest and lowest levels as possible purchases and sales.
☑️ Includes a smoothed RSI.
This will show you the RSI of the higher timeframes (up to 1D). Current Timeframe is colored red, higher timeframes are colored from light gray to darker gray (you can change that).
There are several ways to enter a trade:
1. look for rising RSI on higher timeframe (line is stepping up in indicator window), wait for current RSI to decline to oversold (with...