Relative Strength IndexEvery developer must create his own Relative Strength Index with midline and other features).
In addition to the midline, highlighting and levels customization I give you ability to play with non-standard sources like On Balance Volume.
If someone doesn't know what is this:
This indicator was originally developed by J. Welles Wilder and was described in his book "New Concepts in Technical Trading Systems" (1978). It is intended to measure the strength or weakness of an instrument for the specified period.
RSI is a momentum oscillator and can have a reading from 0 to 100. The values of 70 or above indicate that an instrument is becoming overbought or overvalued and may be primed for a trend reversal or corrective pullback in price. The values of 30 or below indicates an oversold or undervalued condition.
The other significant signals are divergences with price and middle line crossovers. RSI if one the most used indicators on the planet.
Enjoy and good luck!
Strength
Saracino Bitcoin Relative Momentum IndexThis is a technical indicator developed by Andrea Saracino. It gives buy and sell signals and works best on the daily charts.
This indicator is better suited for Bitcoin. In fact, throughout the history, it gave very consistent buy and sell signals on this asset. Could also be used in other cryptocurrencies.
It consists of two components: the histogram and the dots.
HISTOGRAM
The histogram shows the actual momentum of a given price trend and can be used to check if the trend is strong or if it's getting weaker overtime. When the momentum is to the upside it is green, while it is red if the momentum is to the downside.
DOTS
This is the actual signal part. It consists of a series of dots that become blue if there is a clear signal in either way.
For example: if the momentum is going up and the dots become blue it is a buy signal, or a sell signal if momentum goes down.
DISCLAIMER
This is NOT the Saint Grail indicator. You must not open any trade using just this indicator. Create a strategy instead.
LuauDesign's Bull & Bear Runs Support and ResistanceSupport and Resistance Zones
This automates the way I look at drawing Support and Resistance. Different settings make it catch different moves.
It isn't perfect. It doesn't spot everything it should. But it spots some stuff it should, and can be tweaked with the different settings to see different things.
The zones are short-lived. They bound once, twice at best, and sometimes he bounce is very weak and quickly overtaken.
Hope this is useful to someone.
Fib's GhostThis indicator uses Fibonacci Support/Resistance Channels, weighted with Market Volatility(ATR) to determine Trend Momentum and Strength. It has two components: the Histograms and the strength line:
- The histogram gives information about the momentum behind moves and current trend. If Histogram is positive the market is currently in an UpTrend, the height of the Histograms indicates the amount of
buying/selling pressure of the market, in a strong uptrend the histograms grow with each new candle, and never fall under 0. If the histograms cross 0 a trend reversal is signaled.
- The strength line gives information about the Strength of the current Trend, After the color switch the line should move towards the 0-line, the closest point to the 0 line signals a local Top/Bottom.
- The strength line should be used to find hidden-divergences between price and Strength, the Further away the line is from the center the higher the chances of a reversal, but no trend change is signaled until
histograms cross.
The indicator code can be granted for free upon request
Otseneyer Strenght StrategyThis strategy shows if the market is strong or weak, marking short or long respectively, however this does not represent a direct entry, only a strength or weakness, which applied with some other parameters (candlestick patterns, resistances, etc) can throw us a very good entry, especially in the appropriate temporality, where there is a balance between volatility and the persistence of micro-tendencies.
PRICE ACTION VIGORThis is the first of my RENKO strategies and studies series.
I'm developing some studies on Renko charts from a while and now is time to share the results.
This startegy is based on this idea: to measure the "vigor" or strength of a price action and to follow it.
I use Renko charts to identify the price action.
The indicator will rise or fall when a price action starts and it is flat at half of this movement.
Time frame should be 1 minute but I would need a premium account to have RENKO charts with one minute.
The most important point for this strategy is to set the correct brick size for each symbol.
Look in the result how you could obtain starting with a 1000€ account in just few months.
I have also a study with alerts so one could use autoview for automated trading. If you are interested to use it, follow me and add a comment.
Please use comment section for any feedback.
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I have developed an expert advisor for metatrader4 (MT4) and for jforex platform: results of expert advisor form 2015-01-01 to 2018-11-25 are very good with low drawdown and good profit.
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🥢Crypto-Sticks: Absolute Strength Index Osc. by Cryptorthyhms🥢Crypto-Sticks™: Absolute Strength Index Oscillator (Tudor Marcelin)
A new series of indicators brought to you by Cryptorhythms...giving you an alternate look at your trusted favorites! Follow me, there are still 2 dozen Crypto-Sticks indicators planned - all will be released in public library.
🚀Indicator Specific Info
New Crypto-Sticks option is an EMA of the average signal line output. Eventually I will go back and update the previous indicators with this feature as well!
Heiken Ashi candles (default) adds some more clear trend changing points. HA example here:
Volume weighting the HA candles adds a different dimension to the indicator which I have to explore more fully. VW
adds too much noise in my opinion, especially during periods of higher volatility. I left there in case you want to experiment. An example of VW+HA:
💭Please leave me any ideas or feedback you have!
🚫If you use volume weighting you should be on heiken candles.
🚀Crypto-Sticks General Info
🚧This series isnt polished 100%, and I have some more options I will add in the future. But for now, I want to just release them, as I am not sure when I will have the time to put more work into them (many other big projects I am working on).
📊Its basically reinterpretations of all your favorite indicators. I calculate the values a little bit differently than normal, but the end result is creating a candlestick chart (for the indicator!). Then I added the option to plot them as Heiken Ashi candles to smooth out noise and make signaling easier. I recommend using the indicator on this setting.
🔊Lastly I implemented a Volume Weighting system for them all which simply integrates volume into the formulas for these indicators. For the most part this feature is experimental and doesn't provide huge utility (yet - I have other ways I want to try it as well - just no time). Though on some of the indicators it already shows great promise.
👍Enjoying this indicator or find it useful? Please give me a like and follow! There are many more indicators to be released in this series, not to mention I post crypto analysis and other free indicators regularly.
💬Questions? Comments? Want to get access to an entire suite of proven trading indicators? Come visit us on telegram and chat, or just soak up some knowledge. We make timely posts about the market, news, and strategy everyday. Our community isnt open only to subscribers - everyone is welcome to join.
MTF TRIX - squattterBest setting is 5, with a couple of signal lines set to 7 and 14 for crossovers or bounces.
Bar Strength IndicatorIndicator to measure the size of the candle body against the whole candle including the wicks. More information can be found here www.fxstreet.com
This indidactor is based on Marco Mayers article. All credits go to him.
Ultimate Strength Index (USI),Stoch Multi Time Frame(MTF)[cI8DH]Ultimate Strength Index ( USI ) adds stochastic, multi time frame, signal line, histogram, and bar coloring options to RSI and Absolute Strength Index ( ASI ) . It can also turn into an indicator similar to Awesome Oscillator/MACD line. This indicator can be used for analyzing momentum and trendiness/choppiness, as well as identifying swings (stoch). The fix applied in True RSI is also applied here. Chart below shows example multi-TF setup with bar coloring.
For analyzing volume, I made a similar indicator based on money flow and accumulation/distribution, which you can find in the link below.
Aggregation Method
aggregation method = MA Percent => True RSI: momentum and divergence, failure swings
aggregation method = MA => Absolute Strength Index: accurate momentum and divergence
aggregation method = Cumulative => Awesome Oscillator alternative : momentum and divergence, twin peaks, ... (set the smoothing to 5 and signal length to 29ish)
Smoothing, signal line and histogram to detect trend and choppiness
You can apply additional smoothing to USI . Also, you can add a signal line and histogram (histogram is the difference between main line and signal line). To do so, set the signal length to a number greater than one. Signal line can help you detect changes in trend similar to the signal line on MACD. If signal line criss-crosses USI , it shows market is choppy. The worst case is when this criss-crossing coincides with USI flattening near neutral line and histogram height is relatively short; that means market is ded (until it is not; expansion following a contraction period is a common phenomena)! (Bear in mind that histogram will be hidden in stoch mode, and main and signal lines will be hidden in cumulative mode)
Stochastic
To enable stoch, change the stoch length to a number greater than 1 (default stoch length for the built-in RSI stoch is 14). This length should be calibrated depending on TF and asset. If done correctly, it can be a powerful tool for identifying swings. Stoch can be combined with any aggregation method. I recommend using stoch with MA aggregation (i.e. ASI ). For conventional uses of stochastic, please read www.tradingview.com(STOCH) and www.tradingview.com(STOCH_RSI).
Experimental Bar coloring Feature
There is an option to color bars depending on USI's position relative to the signal line. If both TFs are used in coloring and they are in disagreement, the TF with greater histogram height wins. There are two shades of green and red. The darker shade means both TFs agree. If you use the signal line, bar coloring can help with calibrating the indicator (play with parameters until you see a good looking chart i.e. a lot of green candles followed by a lot of red candles in a row). Please note that bar colors might change until candle(s) close(s). The bar coloring rules will most likely change in the future.
Notes
- Smooth MA length N = EMA length 2*N-1
- With correct settings, you can also create an alternative to normalized MACD line in the cumulative mode.
True RSI
Absolute Strength Index
Please give a like, and share the interesting configurations you find in the comments.
Stoch Money Flow (ADMF) & Absolute Strength Index (ASI) [cI8DH]This indicator can apply my previous indicator, Historical and Standard Stochastic, to Money Flow (ADMF) or Absolute Strength Index (ASI) or both at the same time. It can also display those two indicators in regular mode as well as showing visual cues when the indicators make new ATH or ATL.
ASI is basically a new name I am giving to my Gain/Loss Moving Average indicator. If you normalize ASI with the moving average of all the changes in price, it becomes identical to RSI. So ASI is basically non-normalized RSI, that is why it should be a more accurate representation of price momentum.
ADMF is an accumulation/distribution and money flow momentum indicator. Both ASI and ADMF are not range-bound so it is not easy to compare them against each other. When stochastic equation is applied to them, they both become range-bound and comparable. The gaps between the two indicator can reveal valuable information about market dynamics. The chart below shows some examples (note the settings).
For conventional usages of stochastic, please read www.tradingview.com(STOCH) and www.tradingview.com(STOCH_RSI). I recommend you to find the optimal length by playing with the stoch length in the indicator settings. If this parameter is calibrated properly, this indicator can be a powerful tool for identifying market cycle.
You can get these features ( ATH , ATL detection and historical stochastic) for any other indicator using the script below:
RSI Divergence Smoothed with Signal Line and Power ZonesThis Indicator plots Regular and Hidden Divergences lines for an RSI smoothed by an EMA and for its Signal Line
The RSI can be set to change colour with direction or can be set as single colour
Colour Changing RSI helps when trading Multiple Timeframes as you can look for confluence in the direction of RSI
The divergence script is thanks to @RicardoSantos, I've just adjusted it to suite my indicator
Remember that divergences work best when traded with the trend or very late in a trend when going against the trend
I have also added a Colour Changing Signal Line & Hima Reddy's Power Zones so now you can also
Take full advantage of trading; signal line crosses, 50 crosses and Power Zone RSI support and resistance
Kijun-Sen Strength Analyzer 基準線The Kijun-Sen Strength Analyzer 基準線 is included in the Richimoku Traiding System.
The Kijun-Sen Strength Analyzer (Indentify divergences. Know First. Act Faster. A must-have for every Ichimoku trader)
*As some indicators you may come across are using the repainting mode (which consists in correcting the false signal back in time).
You'll never see such thing in the Richimoku Trading System. What's on the charts is displayed in real time, no cheating...
Feel free to test the Kijun-Sen Strength Analyzer 基準線 or the Richimoku Trading System For 12 hours! Study the chart history on all timeframes. Study all details incl. divergences etc.
FAQ.
How to access the Kijun-Sen Strength Analyzer 基準線 in tradingview?
To access your indicator simply click on “Indicators” at the top of your Chart, and click on “Invite-Only Scripts”. Click on the indicator to activate it. That’s it!
Will the the Kijun-Sen Strength Analyzer 基準線 work for Stock and Index trading?
Sure! It works on all Forex, Stocks, Indexes, Metals and Crypto's!
Does this indicator work with a free TradingView Account?
Yes you can use the Kijun-Sen Strength Analyzer 基準線 or the Richimoku Indicator Trading System with a free TradingView account.
Does the indiators work on all timeframes?
Yes, the indicators can be used on all time frames!
