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Failed expectations = markets fallingAs it was expected, the Federal Reserve System cut interest rates by 0,25%. But why did the market fall? Was it only because a group of investors expected 0,50% lowering? Well, in reality, there are multiple addional reasons that we have to take into account: 1) global economy continues to slow down (just look at Pmi manufacture data) 2) we are still in the earning release time. Some companies are overperformed, meanwhile other underperformed 3) Despite the fact that the United States and China formally agree to restart trade talks at the G20 meeting in Osaka, yesterday Trump announced 10% tariffs on $300 billion worth of Chinese imports, in addition to the 25% already levied on $250 billion worth of Chinese goods. The reason is that China had not followed through on a promise to buy more U.S. farm products. Let´s see what is going to happen next...
SP:SPX
by Market_Referee
Winner Winner Chicken Dinner $SPY $SPX (Narrative) Hot streak is alive & well. Writing this at my third different hotel just this week - as I said, busy week traveling. Crazy week - was stranded on the Philadelphia Tarmac for 2 hours on Tuesday (ironically was in Purgatory while reading the Diving Comedy) so missed connection and was almost trapped in O'hare for the night. After getting there at 1:30am, I woke up early to canvas the area and make another sales proposal - then drove up the UP of Michigan (7 hours) to get to Traverse City MI at night. Spent the morning canvasing the area looking to refill the pipeline and cranked out another proposal call today from 2-5pm. I knew it was going to be crazy so I decided not to trade this week anymore - didn't want to ruin the hot streak. Well... yesterday I entered a call vertical spread favoring the long side.. and then last night bored in a hotel room with a racing mind (restless driving) I cranked out some TA - and made a game plan for today on exiting the position. Was thinking we see ATH's today when I entered the trade yesterday. This morning the market dropped pretty fast - I was on the move, and couldn't think about this so I confidently broke out my exit for each leg of the trade putting in my orders, and left the market to it's own devices. Went exactly according to plan. The hedge sold off in the early morning drop, and the calls sold off about an hour later in the rally. I outlined them in the chart above. It is funny because the trade favored the long side, but I made more off the hedge then the underlying trade! Overall walked away with another tidy profit with probably about less than 1hour of TA last night, and less than 15mins of glances this morning. The streak is alive & well. The market continues to work for me these days!! EDIT: I say in the chart I sold puts in the morning - this is incorrect, I purchased back the "sell to open calls"... Sorry!
OANDA:SPX500USD
by ZenMode
Week in Review: Hidden GemHonorable Mentions Some very nice work has been done this week again by the Pine community. Shout out to Covax for publishing an attractive "Bitfinex Sentiment Index", beautifully rendering longs and shorts with some creative code; mortdiggidy's "Fisher Transform MTF" includes a unique function for the MTF Fisher, which, if I'm reading it right, solves the upper timeframe repainting that's oft associated with studies; and "Relative Derivative" by byteboi is a simple modification of the RoC that's comparable across assets and smoothed with an SMA. Dr. Do-a-lot A scripter that some, but not enough, users of TradingView will be familiar with is RafaelZioni. He's been a user for ten months and in that time he's amassed a huge library. RafaelZioni's strengths can be seen in the details of his work and as such his broader body of work may go underappreciated, but it's worth venturing deep into some of his work if you want to learn tricks-of-the-trade. His most recent work, and the script that will be highlighted this week, is "zigzag%". Zig-Zags in the Bag A very famous and useful scripter by the name of RicardoSantos has published a slew of scripts for realising zig-zags on the chart, so what make this one special? Well, for a start (and as far as I can tell), the zig-zag paints in real-time and with no lag. It can also use upper timeframe data with (as per description) no repaint. But that's not where the value lies in this script. A problem with Pine is that we can't realise some strategy functions in studies. TradingView doesn't accommodate for this and we need to think out of the box in order to achieve fidelity. So if you look carefully in this script you'll see that RafaelZioni has done just that. We can set the backtest date, set the take-profit levels, stop-loss levels and more. For anyone who's trying to turn their strategies into studies so that they can get alerts for each action, look here for some great insight. The script is actually an implementation of a trading strategy too. Here's an example of some results you can get. What Else is in the Bag? It's a jungle out there, but there's treasure deep in the dark. I advise everyone to get down and dirty with RafaelZioni's scripts. There's a very RicardoSantos-feel from his ideas and I expect that they're only going to get more creative in the future. His "Bollinger ratio" was included in the honorable mentions list last week and is a creative way of merging Bollinger Bands with the MACD. The eloquently named "net volume of positive and negative volume buy and sell alert" is also a fantastic way to view volume, and it comes with buy and sell alerts. Want to learn? If you'd like the opportunity to learn Pine but you have difficulty finding resources to guide you, take a look at this rudimentary list: docs.google.com The list will be updated in the future as more people share the resources that have helped, or continue to help, them. Follow me on Twitter to keep up-to-date with the growing list of resources. Suggestions or Questions? Don't even kinda hesitate to forward them to me. My (metaphorical) door is always open. Honorable Mentions RafaelZioni: www.tradingview.com Covax: www.tradingview.com mortdiggidy: www.tradingview.com byteboi: www.tradingview.com
FX_IDC:XAUUSDEducation
by chrysopoetics
5
Week in Review: New Kid on the BlockHonorable Mentions This week we've seen a flurry of new open-source scripts hit TradingView, empowering it's users with trading ideas and programming techniques. "By Traders For Traders" by Dunhua-Yao , a potent modification of JustUncleL's "Price Action Candles", uses tighter criteria for 'Hammers' and 'Shooting Stars'; "Blau Divergence RSI", by blindfreddy , gifts us with William Blau's RSI; Quansium's "Quansium Source Layout" suggests ways to use external sources with TradingView; and RafaelZioni's "Bollinger ratio" brings together the MACD and Bollinger Bands in a unique way. There Goes the Neighborhood But there was one coder in particular that really caught my attention, introducing new, interesting, accessible, exotic and useful concepts. In the last week he's published 8 scripts, with his most recent strategy garnering a seemingly-outlandish return of 6000%+, although he has been a member for seven months. So the shining light for me this week, a big fan of Ehler's (who isn't?), has to be dasanc: www.tradingview.com Magnum Opus Currere The script that encapsulates his talent (for me) is his most recent strategy, "Adaptive Zero Lag EMA v2": This piece of work uses Ehler's ZLEMA and the two methods for Instantaneous Frequency Measurement (IFM) that dasanc's published in the past week. You can also adjust your risk limit, change TP/SL levels and determine your gain limit from within the control panel. Not only that, but it's presented in a clean and understandable manner, allowing beginners and professionals alike to pick up and immediately get started with the algorithms. Cherry on Top... So what makes this script so special? Well, the two IFM techniques: (One) (Two) In what seems to be his typical fashion, he's provided excellent descriptions for how these should be used. In short, if you're using an indicator that uses a lookback period (RSI, EMA etc), instead of fiddling with arbitrary numbers you just use the output of either of these techniques as the source for determining the lookback. Realising this concept has resulted in the entire Pine community being gifted with something they might not even know they were looking for. ...And Some Cream Low Lag Exponential Moving Average: Cosine, In-Phase and Quadrature IFM: Moving Forward With a young account and a recent burst of activity, it's safe to assume that we'll be seeing more of dasanc. Hopefully his singular approach to signal processing (as far as the current TradingView library is concerned) will be emulated by others. Want to learn? If you'd like the opportunity to learn Pine but you have difficulty finding resources to guide you, take a look at this rudimentary list: docs.google.com The list will be updated in the future as more people share the resources that have helped, or continue to help, them. Follow me on Twitter to keep up-to-date with the growing list of resources. Suggestions or Questions? Don't even kinda hesitate to forward them to me. My (metaphorical) door is always open. Honorable Mentions
NASDAQ:INTCEducation
by chrysopoetics
2
Mission Statement for the "- in Review" seriesI'm not sure of the exact figures, but I think TradingView has about 7M+ users. That's 7M+ people working towards the same end. 7M+ people with insights and ideas. 7M+ people with access to an in-house programming language tailored for trading and technical analysis. Yet despite this there's only a small, mumbling community for discussing Pine, trading and how to bring them together. A few people have endeavored to change this and I'd like to play my part. So I'm going to begin publishing a series of articles through TradingView that will try to bring light to the secretly-active Pine community. The three titles I suggest will be: (1) "Week in Review", (2) "Coder in Review" and (3) "Script in Review". One of the reasons I want to do this is because I think it's incredibly difficult for new users to get recognition for their brilliant work due to the current TradingView search system being an echo-chamber. Those with the most followers get the most views and the most likes and then more followers and more views and... LazyBear, a cherished asset of the TradingView community, is all some people will know and search for. This can be disastrous for building a lasting community around Pine and for developing your own concepts around trading. So I want to give more exposure to those who publish now so that we can all have the opportunity to be involved in conceptual progress. Hopefully in due time TradingView will revamp their search engine. Most popular scripts of the week/month/year would be a start, but I'm sure more could be done. The articles written will never be defamatory or provocative. I don't want to rouse spirits, but focus minds. In that same vein, I will never shill someone's profile or scripts. All choices will be mine alone (unless I can poll effectively and transparently) and, as such, will have my biases (unless others join me in this effort) Week in Review Every Tuesday I'll pore through the scripts that have been published in the last week and select one for review, once it meets the minimum criteria. The criteria for being considered is: (A) for the script to be open-source and (B) not to be a direct copypasta-job from another coder. There's nothing wrong with using something not made by you to help you create something better though, but there has to be obvious improvements made from the original. The script reviewed is meant to be my pick-of-the-bunch, but that is by no means an ultimate opinion. Some qualities that I'll most likely be looking for are: (A) creativity and innovation; just do as Ezra Pound did and "Make it new!", (B) usefulness: it can either be useful in it's own right, or it can be useful when used as a component within another script; both will be considered, neither will be favored and (C) a decent description of what it's supposed to do or how it's supposed to be used. Clean charts are a plus too: you only need the indicator you're publishing on the chart most of the time. Aside from the script, there will be a brief mention of the programmer and their body of work. Coder in Review This is where I'll look over the portfolio of a user on TradingView and comment on their body of work, some of their best (my favorite) scripts and how they've helped the community to grow as a whole. The criteria for being considered are: (A) must have an account for over six months and (B) must have published at least ten scripts. These won't be published regularly (at least not at the start), so I'll just push them out when I get the itch. From referencing so much of RicardoSantos' work in my initial builds, I felt indebted enough that I wanted to write him an essay explaining my thanks. I've since had that feeling for a lot of programmers. Some qualities I'll be looking for will be: (A) breadth of analysis and (B) efficient code. Script in Review Some weeks we're going to have a handful of top-notch scripts, most which we don't want discluded from the narrative. So in order to accommodate for them there'll also be a "Script in Review" thread of articles. This will also give me the opportunity to discuss scripts that were published a long time ago. Criteria to be included will be the same as the "Week in Review" selection. Like the "Coder in Review", these won't be regularly publications for the time being, but may become so in the future. Disclaimer I'm going to talk about scripts and programmers that I like, but that is by no means an endorsement. If someone I talk about sells products or services, I do not want you to make a decision to engage with their products or services based on my opinions. I'm not selling anything or trying to get you to buy something. I just want to open up the discussion about Pine and bring together a community of like-minded people. Want to learn? If you'd like the opportunity to learn Pine but you have difficulty finding resources to guide you, take a look at this rudimentary list: docs.google.com The list will be updated in the future as more people share the resources that have helped, or continue to help, them. Follow me on Twitter to keep up-to-date with the growing list of resources. Suggestions or Questions? Don't even kinda hesitate to forward them to me. My (metaphorical) door is always open.
FOREXCOM:EU50Education
by chrysopoetics
2