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Breadth Indicators

Market Internals (TICK, ADD, VOLD, TRIN, VIX)OVERVIEW This script allows you to perform data transformations on Market Internals, across exchanges, and specify signal parameters, to more easily identify sentiment extremes. Notable transformations include: 1. Cumulative session values 2. Directional bull-bear Ratios and Percent Differences 3. Data Normalization 4. Noise Reduction This kind of data interaction is very useful for understanding the relationship between two mutually exclusive metrics, which is the essence of Market Internals: Up vs. Down. Even so, they are not possible with symbol expressions alone. And the kind of symbol expression needed to produce baseline data that can be reliably transformed is opaque to most traders, made worse by the fact that prerequisite symbol expressions themselves are not uniform across symbols. It's very nuanced, and if this last bit was confusing … exactly. All this to say, rather than forcing that burden onto you, I've baked the baseline symbol expressions into the indicator so: 1) the transform functions consistently ingest the baseline data in the correct format and 2) you don't have to spend time trying to figure it all out. Trading is hard. There's no need to make it harder. INPUTS Indicator Allows you to specify the base Market Internal and Exchange data to use. The list of Market Internals is simplified to their fundamental representation (TICK, ADD, VOLD, TRIN, VIX, ABVD, TKCD), and the list of Exchange data is limited to the most common (NYSE, NASDAQ, All US Stocks). There are also options for basic exchange combinations (Sum or Average of NYSE & NASDAQ). Mode Short for "Plot Mode", this is where you specify the bars style (Candles, Bars, Line, Circles, Columns) and the source value (used for single value plots and plot color changes). Scale This is the first and second data transformation grouped together. The default is to show the origin data as it might appear on a chart. You can then specify if each bar should retain it's unique value (Bar Value) or be added to a running total (Cumulative). You can also specify if you would like the data to remain unaltered (Raw) or converted to a directional ratio (Ratio) or a percentage (Percent Diff). These options determine the scale of the plot. Both Ratio and Percent Diff. convert a given symbol into a positive or negative number, where positive numbers are bullish and negative numbers are bearish. Ratio will divide Bull values by Bear values, then further divide -1 by the quotient if it is less than 1. For example, if "0.5" was the quotient, the Ratio would be "-2". Percent Diff. subtracts Bear values from Bull values, then divides that difference by the sum of Bull and Bear values multiplied by 100. If a Bull value was "3" and Bear value was "7", the difference would be "-4", the sum would be "10", and the Percent Diff. would be "-40", as the difference is both bearish and 40% of total. Ratio Norm. Threshold This is the third data transformation . While quotients can be less than 1, directional ratios are never less than 1. This can lead to barcode-like artifacts as plots transition between positive and negative values, visually suggesting the change is much larger than it actually is. Normalizing the data can resolve this artifact, but undermines the utility of ratios. If, however, only some of the data is normalized, the artifact can be resolved without jeopardizing its contextual usefulness. The utility of ratios is how quickly they communicate proportional differences. For example, if one side is twice as big as the other, "2" communicates this efficiently. This necessarily means the numerical value of ratios is worth preserving. Also, below a certain threshold, the utility of ratios is diminished. For example, an equal distribution being represented as 0, 1, 1:1, 50/50, etc. are all equally useful. Thus, there is a threshold, above which we want values to be exact, and below which the utility of linear visual continuity is more important. This setting accounts for that threshold. When this setting is enabled, a ratio will be normalized to 0 when 1:1, scaled linearly toward the specified threshold when greater than 1:1, and then retain its exact value when the threshold is crossed. For example, with a threshold of "2", 1:1 = 0, 1.5:1 = 1, 2:1 = 2, 3:1 = 3, etc. With all this in mind, most traders will want to set the ratios threshold at a level where accuracy becomes more important than visual continuity. If this level is unknown, "2" is a good baseline. Reset cumulative total with each new session Cumulative totals can be retained indefinitely or be reset each session. When enabled, each session has its own cumulative total. When disabled, the cumulative total is maintained indefinitely. Show Signal Ranges Because everything in this script is designed to make identifying sentiment extremes easier, an obvious inclusion would be to not only display ranges that are considered extreme for each Market Internal, but to also change the color of the plot when it is within, or beyond, that range. That is exactly what this setting does. Override Max & Min While the min-max signal levels have reasonable defaults for each symbol and transformation type, the Override Max and Override Min options allow you to … (wait for it) … override the max … and min … signal levels. This may be useful should you find a different level to be more suitable for your exact configuration. Reduce Noise This is the fourth data transformation . While the previous Ratio Norm. Threshold linearly stretches values between a threshold and 0, this setting will exponentially squash values closer to 0 if below the lower signal level. The purpose of this is to compress data below the signal range, then amplify it as it approaches the signal level. If we are trying to identify extremes (the signal), minimizing values that are not extreme (the noise) can help us visually focus on what matters. Always keep both signal zones visible Some traders like to zoom in close to the bars. Others prefer to keep a wider focus. For those that like to zoom in, if both signals were always visible, the bar values can appear squashed and difficult to discern. For those that keep a wider focus, if both signals were not always visible, it's possible to lose context if a signal zone is vertically beyond the pane. This setting allows you to decide which scenario is best for you. Plot Colors These define the default color, within signal color, and beyond signal color for Bullish and Bearish directions. Plot colors should be relative to zero When enabled, the plot will inherit Bullish colors when above zero and Bearish colors when below zero. When disabled and Directional Colors are enabled (below), the plot will inherit the default Bullish color when rising, and the default Bearish color when falling. Otherwise, the plot will use the default Bullish color for all directions. Directional colors When the plot colors should be relative to zero (above), this changes the opacity of a bars color if moving toward zero, where "100" percent is the full value of the original color and "0" is transparent. When the plot colors are NOT relative to zero, the plot will inherit Bullish colors when rising and Bearish colors when falling. Differentiate RTH from ETH Market Internal data is typically only available during regular trading hours. When this setting is enabled, the background color of the indicator will change as a reminder that data is not available outside regular trading hours (RTH), if the chart is showing electronic trading hours (ETH). Show zero line Similar to always keeping signal zones visible (further up), some traders prefer zooming in while others prefer a wider context. This setting allows you to specify the visibility of the zero line to best suit your trading style. Linear Regression Polynomial regressions are great for capturing non-linear patterns in data. TradingView offers a "linear regression curve", which this script is using as a substitute. If you're unfamiliar with either term, think of this like a better moving average. Symbol While the Market Internal symbol will display in the status line of the indicator, the status line can be small and require more than a quick glance to read properly. Enabling this setting allows you to specify if / where / how the symbol should display on the indicator to make distinguishing between Market Internals more efficient. Speaking of symbols, this indicator is designed for, and limited to, the following … TICK - The TICK subtracts the total number of stocks making a downtick from the total number of stocks making an uptick. ADD - The Advance Decline Difference subtracts the total number of stocks below yesterdays close from the total number of stocks above yesterdays close. VOLD - The Volume Difference subtracts the total declining volume from the total advancing volume. TRIN - The Arms Index (aka. Trading Index) divides the ratio of Advancing Stocks / Volume by the ratio of Declining Stocks / Volume. Given the inverse correlation of this index to market movement, when transforming it to a Ratio or Percent Diff., its values are inverted to preserve the bull-bear sentiment of the transformations. VIX - The CBOE Volatility Index is derived from SPX index option prices, generating a 30-day forward projection of volatility. Given the inverse correlation of this index to market movement, when transforming it to a Ratio or Percent Diff., its values are inverted and normalized to the sessions first bar to preserve the bull-bear sentiment of the transformations. Note: If you do not have a Cboe CGIF subscription , VIX data will be delayed and plot unexpectedly. ABVD - The Above VWAP Difference is an unofficial index measuring all stocks above VWAP as a percent difference. For the purposes of this indicator (and brevity), TradingViews PCTABOVEVWAP has has been shortened to simply be ABVD. TKCD - The Tick Cumulative Difference is an unofficial index that subtracts the total number of market downticks from the total number of market upticks. Where "the TICK" (further up) is a measurement of stocks ticking up and down, TKCD is a measurement of the ticks themselves. For the purposes of this indicator (and brevity), TradingViews UPTKS and DNTKS symbols have been shorted to simply be TKCD. INSPIRATION I recently made an indicator automatically identifying / drawing daily percentage levels , based on 4 assumptions. One of these assumptions is about trend days. While trend days do not represent the majority of days, they can have big moves worth understanding, for both capitalization and risk mitigation. To this end, I discovered: • Article by Linda Bradford Raschke about Capturing Trend Days. • Video of Garrett Drinon about Trend Day Trading. • Videos of Ryan Trost about How To Use ADD and TICK. • Article by Jason Ruchel about Overview of Key Market Internals. • Including links to resources outside of TradingView violates the House Rules, but they're not hard to find, if interested. These discoveries inspired me adopt the underlying symbols in my own trading. I also found myself wanting to make using them easier, the net result being this script. While coding everything, I also discovered a few symbols I believe warrant serious consideration. Specifically the Percent Above VWAP symbols and the Up Ticks / Down Ticks symbols (referenced as ABVD and TKCD in this indicator, for brevity). I found transforming ABVD or TKCD into a Ratio or Percent Diff. to be an incredibly useful and worthy inclusion. ABVD is a Market Breadth cousin to Brian Shannon's work, and TKCD is like the 3rd dimension of the TICKs geometry. Enjoy.
Pine Script™ indicator
by liquid-trader
67
Correlational cyclesCorrelation is a statistical measure that expresses the extent to which two variables are linearly related (meaning they change together at a constant rate). It's a common tool for describing simple relationships without making a statement about cause and effect. This script allows the user to input a multiplier to reverse the symbol input. This enables the user to look at a correlation measure between VIX and QQQ and the same time.. And get a better of understanding of what is not alligning and what is. the peaks in correlations usually signal a coming volatile period.
Pine Script™ indicator
by Kowalski_Trader
Yearly and 12-Week Percentage Difference with EMAThe indicator "Yearly and 12-Week Percentage Difference with EMA" is designed to display the annual and 12-week difference in the percentage variability of asset prices, as well as their exponential moving averages (EMA) on the TradingView chart. EMA Period (EMA Period): This is a configurable parameter that allows you to select a period for calculating the EMA. Yearly % Difference (Annual percentage difference): This indicator shows the percentage difference between the current price and the asset price a year ago on weekly bars. The graph is displayed in blue. 12-Week % Difference (12 weeks difference as a percentage): This indicator shows the percentage difference between the current price and the asset price 12 weeks ago on weekly bars. The graph is displayed in green. Zero Line (Zero Line): This black line on the chart shows the zero level. EMA of Yearly % Difference (EMA of annual percentage difference): This line represents the exponential moving average (EMA) of the annual percentage difference. The graph is displayed in red. EMA of 12-Week % Difference (EMA of the difference over 12 weeks as a percentage): This line represents the exponential moving average (EMA) of the difference over 12 weeks as a percentage. The graph is displayed in orange. Use this indicator to analyze the percentage variability of asset prices on an annual and 12-week basis, as well as to track their EMA, which can help in making trading decisions. Русская версия \\\\\ Индикатор "Разница в процентах за год и за 12 недель с EMA" предназначен для отображения цены от год к году, и за 12 недель процентной изменчивости цен актива, а также их экспоненциальных скользящих средних (EMA) на графике TradingView. - EMA Period (Период EMA): Это настраиваемый параметр, который позволяет выбрать период для расчета EMA. - Yearly % Difference (Годовая разница в процентах): Этот индикатор показывает процентную разницу между текущей ценой и ценой актива год назад на недельных барах. График отображается синим цветом. - 12-Week % Difference (Разница за 12 недель в процентах): Этот индикатор показывает процентную разницу между текущей ценой и ценой актива 12 недель назад на недельных барах. График отображается зеленым цветом. - Zero Line (Линия нуля): Эта черная линия на графике показывает нулевой уровень. - EMA of Yearly % Difference (EMA годовой разницы в процентах): Эта линия представляет собой экспоненциальное скользящее среднее (EMA) годовой разницы в процентах. График отображается красным цветом. - EMA of 12-Week % Difference (EMA разницы за 12 недель в процентах): Эта линия представляет собой экспоненциальное скользящее среднее (EMA) разницы за 12 недель в процентах. График отображается оранжевым цветом. Используйте этот индикатор для анализа процентной изменчивости цен актива на годовой и 12-недельной основе, а также для отслеживания их EMA, что может помочь в принятии торговых решений.
Pine Script™ indicator
by A-Shternkuker
2
RSRWDescription: The given Pine-Script, titled "Real Relative Strength (RSRW)," is designed to evaluate the relative strength of the selected security compared to a benchmark security, defaulting to "SPY". It utilizes TradingView’s programming language and is structured to run on its platform. Functionality: Rolling Price Change Calculation: It calculates the rolling price change for both the selected security and the comparison security over a user-defined length of periods, defaulting to 12. Rolling ATR Change Calculation: It computes the Average True Range (ATR) over the specified length for both securities, providing insights into market volatility. Power Index Calculation: It computes the power index by dividing the rolling move of the comparison security by its rolling ATR, offering a measure of market strength or weakness relative to volatility. Real Relative Strength (RRS) Calculation: It determines the Real Relative Strength of the selected security against the benchmark, adjusting the relative price move by the power index and dividing by the security's rolling ATR. Correlation: The script also evaluates the correlation between the selected security and the compared security over the defined length, providing a correlation coefficient that is represented visually by different colors. Visual Representation: The Real Relative Strength is plotted with a blue line. A red line represents the baseline (0). Correlation is displayed with a color-coded line, ranging from green (high positive correlation) to red (high negative correlation). Utility: This script is valuable for traders and investors looking to assess the relative performance of securities against a benchmark, factoring in volatility and correlation, enabling more informed investment decisions based on market dynamics. License: This script is subject to the terms of the Mozilla Public License 2.0.
Pine Script™ indicator
by MaskinAlv
Gann's square of 9 overextended indicatorThis indicator is inspired by the book “The Definitive Guide to Forecasting Using W.D. Gann’s Square of Nine”. It’s designed to identify overextended price levels in the market. The indicator uses the concept of Gann’s Square of 9, which is a method for forecasting price movements by observing geometric relationships between price and time. It calculates the square root of the price, then subtracts the square root of a simple moving average of the price. The difference is then converted to degrees to create the indicator values. The indicator plots four horizontal lines, representing two upper and two lower thresholds. When the indicator crosses these lines, it suggests that the price may be overextended and a reversal could be imminent. Please note that the Price Multiplier parameter needs to be adjusted for each timeframe and security to ensure accurate results. This is because different securities and timeframes can have different price scales, and the multiplier helps to normalize the price data for the calculation. The indicator also includes a Moving Average Size parameter, which determines the length of the simple moving average used in the calculation. This indicator can be a useful tool for traders looking to identify potential reversal points in the market. However, like all indicators, it should be used in conjunction with other forms of analysis and it’s not recommended to rely solely on this indicator for trading decisions.
Pine Script™ indicator
by icyici
Kawasaki_MFIKawasaki_MFI Indicator The Kawasaki_MFI indicator is a customized technical analysis tool developed to analyze asset prices in financial markets. This script is implemented in TradingView's Pine Script language (version 5) and is based on the concept of the Accumulation/Distribution Line (ADL) which is a volume-based indicator designed to measure the cumulative flow of money into and out of a security. Script Details Version: Pine Script version 5 Overlay: True - The indicator is plotted directly on the price chart. Input Variables The script utilizes the following input variables sourced from daily (D) time frames: High (my_high): The highest price of the security in the daily time frame. Low (my_low): The lowest price of the security in the daily time frame. Close (my_close): The closing price of the security in the daily time frame. Volume (my_volume): The trading volume of the security in the daily time frame. ADL Calculation The ADL is calculated using the following formula: ADL = Cumulative sum of ((Close−Low)−(High−Close)High−Low×Volume) ADL=Cumulative sum of ( High−Low(Close−Low)−(High−Close)×Volume) Plot The ADL line is plotted on the chart with the following characteristics: Title: ADL Color: Blue Usage Traders can use the Kawasaki_MFI indicator to identify trends and potential reversal points in the market. A rising ADL line suggests buying pressure, while a falling ADL line suggests selling pressure. It can be used in conjunction with other technical indicators to develop a comprehensive trading strategy. Feel free to add more details or modify the description to better suit your needs.
Pine Script™ indicator
by KAWASAKI-AXIS
Search for consolidations - AstroHubThe indicator is designed to identify consolidation periods on the chart of a trading instrument. Key factors and parameters to consider when using this indicator: 1. Consolidation length (consol_length): This parameter allows you to set the length of the period in which consolidation will be sought. The higher the value, the longer consolidation periods will be taken into account. The recommended value is 20. 2. Calculation of the mathematical model: The indicator is based on a mathematical model that calculates the average price range (avg_range) within the specified consolidation period. Then, the exponential moving average of the obtained values is averaged (ta.rma) to obtain consolidation. If the price range is smaller than the consolidation value, the current period is considered consolidation. 3. Chart display: The program allows you to display consolidation on the chart as a label (plotshape) beneath the candlesticks. Consolidation will be shown in blue with the label "Consolidation". The indicator is placed below the current candlesticks. How to use the indicator: 1. Load the script into your market analysis platform (e.g. TradingView). 2. Set the desired consolidation length (consol_length). 3. The indicator will automatically calculate consolidation based on the specified length. 4. Blue labels with the text "Consolidation" will be displayed on the chart for each consolidation period. Important points to consider when using this indicator: 1. The indicator does not predict the direction of price movement after consolidation. It only shows consolidation periods on the chart. 2. The results of the indicator may vary depending on the chosen consolidation length. It is recommended to conduct several experiments with different values to find the optimal period for the instrument and timeframe. I hope this description helps you better understand and assess the functionality and application of this indicator. Good luck with your usage!
Pine Script™ indicator
by AstroHub
TraderJoe TickMarket sentiment and market breadth are important factors for traders to consider when making trading decisions. The TICK index , which reflects the buying and selling activity of an entire index, can provide valuable insights into market sentiment and breadth. 1. Assessing Market Sentiment: - Positive TICK: When the TICK index is consistently positive (indicating more stocks are being bought at or above the asking price), it suggests overall bullish sentiment in the market. - Negative TICK: Conversely, a consistently negative TICK indicates bearish sentiment, where more stocks are being sold at or below the asking price. 2. Market Breadth: - Look at the TICK readings for various market indexes, not just one. If all major market indexes are experiencing the same sentiment (e.g., all have aggressive buyers), it's a stronger signal of a broader market trend. 3. Using the TICK for Entry and Exit: - Positive TICK can be an entry signal for long positions. Traders might consider going long when the TICK index is consistently positive, indicating strong buying pressure in the market. - Negative TICK can be an entry signal for short positions. When the TICK is consistently negative, it suggests selling pressure, making shorting more attractive. - Exit positions or take profits when the TICK starts to show signs of reversing from its extreme levels. An excessively positive TICK might indicate overbought conditions, while an overly negative TICK may signal oversold conditions. 4. Combining TICK with Other Indicators: - It's often beneficial to combine TICK analysis with other technical and fundamental indicators to increase the accuracy of your trading decisions. For example, you could use moving averages, RSI, or support and resistance levels to confirm your entry and exit points. 5. Low Float Stocks and TICK: - Low float stocks can be more volatile, making TICK analysis even more crucial. In these cases, watch for extreme TICK readings, as they can trigger rapid price movements. - Be cautious when trading low float stocks, as they can be susceptible to price manipulation due to limited liquidity. Use proper risk management techniques, like setting stop-loss orders. 6. Stay Informed: - Keep an eye on news and events that might explain sudden shifts in market sentiment. Unexpected news, economic releases, or geopolitical events can quickly change market dynamics.
Pine Script™ indicator
by thebearfib
1
Asset PerformanceThis indicator calculates actual changes in the asset value, based on the assumption that changes in the dollar value are correlated with changes in the dollar index. The calculation begins by converting the asset price to dollars. It is then multiplied by the dollar index. This value itself has no inherent meaning, but changes in this value reflect actual changes in the asset value. SETTINGS Bars The calculation starts from the number of bars back. Assets for comparison Optional. Any 6 assets for comparison. Enabling the ADJ on the chart will display the value including dividends.
Pine Script™ indicator
by hisatomi
Combined Indicator by rocky vermaThe combined indicator you've provided consists of three different indicator logics. Here's how to use it: 1. **Indicator 1: Trend Trader AVR Strategy** - This indicator is based on the Trend Trader AVR Strategy. - It uses three input parameters: `Length1`, `LengthMA1`, and `Multiplier1`. - The indicator plots a moving average (`nResMA1`) and changes the bar color based on certain conditions. - The conditions for changing the bar color are defined in the `pos1` variable. 2. **Indicator 2: HYE Trend Hunter** - This indicator is based on the HYE Trend Hunter strategy. - It uses various input parameters such as `slowtenkansenPeriod`, `slowkijunsenPeriod`, `fasttenkansenPeriod`, and `fastkijunsenPeriod`. - The logic of this indicator is not fully provided in your code snippet, but it seems to calculate various values related to the HYE Trend Hunter strategy. 3. **Indicator 3: Phenom** - This indicator provides EMA (Exponential Moving Average) lines with different lengths. - It allows you to configure whether to display EMA lines and their colors. - Additionally, it provides options to display stop loss levels based on ATR (Average True Range). To use this combined indicator: - Apply it to a chart in TradingView by copying the entire code snippet and pasting it into the Pine Script editor. - Configure the input parameters for each of the three indicator logics as desired. You can adjust the input values in the indicator's settings panel on the chart. - You can also modify the indicator's appearance by changing the plot colors or turning on/off specific components. - Once you have configured the input parameters and appearance settings to your liking, you can then interpret the signals and information provided by the three indicator logics on the chart. Keep in mind that this is a basic combination of the three indicators you provided, and it may require further customization to meet your specific trading strategy and preferences. Additionally, ensure you thoroughly understand the strategies and conditions used by each of the indicators to make informed trading decisions.
Pine Script™ indicator
by chhatrapalv73
1
Multi-Asset Performance [Spaghetti] - By LeviathanThis indicator visualizes the cumulative percentage changes or returns of 30 symbols over a given period and offers a unique set of tools and data analytics for deeper insight into the performance of different assets. Multi Asset Performance indicator (also called “Spaghetti”) makes it easy to monitor the changes in Price, Open Interest, and On Balance Volume across multiple assets simultaneously, distinguish assets that are overperforming or underperforming, observe the relative strength of different assets or currencies, use it as a tool for identifying mean reversion opportunities and even for constructing pairs trading strategies, detect "risk-on" or "risk-off" periods, evaluate statistical relationships between assets through metrics like correlation and beta, construct hedging strategies, trade rotations and much more. Start by selecting a time period (e.g., 1 DAY) to set the interval for when data is reset. This will provide insight into how price, open interest, and on-balance volume change over your chosen period. In the settings, asset selection is fully customizable, allowing you to create three groups of up to 30 tickers each. These tickers can be displayed in a variety of styles and colors. Additional script settings offer a range of options, including smoothing values with a Simple Moving Average (SMA), highlighting the top or bottom performers, plotting the group mean, applying heatmap/gradient coloring, generating a table with calculations like beta, correlation, and RSI, creating a profile to show asset distribution around the mean, and much more. One of the most important script tools is the screener table, which can display: 🔸 Percentage Change (Represents the return or the percentage increase or decrease in Price/OI/OBV over the current selected period) 🔸 Beta (Represents the sensitivity or responsiveness of asset's returns to the returns of a benchmark/mean. A beta of 1 means the asset moves in tandem with the market. A beta greater than 1 indicates the asset is more volatile than the market, while a beta less than 1 indicates the asset is less volatile. For example, a beta of 1.5 means the asset typically moves 150% as much as the benchmark. If the benchmark goes up 1%, the asset is expected to go up 1.5%, and vice versa.) 🔸 Correlation (Describes the strength and direction of a linear relationship between the asset and the mean. Correlation coefficients range from -1 to +1. A correlation of +1 means that two variables are perfectly positively correlated; as one goes up, the other will go up in exact proportion. A correlation of -1 means they are perfectly negatively correlated; as one goes up, the other will go down in exact proportion. A correlation of 0 means that there is no linear relationship between the variables. For example, a correlation of 0.5 between Asset A and Asset B would suggest that when Asset A moves, Asset B tends to move in the same direction, but not perfectly in tandem.) 🔸 RSI (Measures the speed and change of price movements and is used to identify overbought or oversold conditions of each asset. The RSI ranges from 0 to 100 and is typically used with a time period of 14. Generally, an RSI above 70 indicates that an asset may be overbought, while RSI below 30 signals that an asset may be oversold.) ⚙️ Settings Overview: ◽️ Period Periodic inputs (e.g. daily, monthly, etc.) determine when the values are reset to zero and begin accumulating again until the period is over. This visualizes the net change in the data over each period. The input "Visible Range" is auto-adjustable as it starts the accumulation at the leftmost bar on your chart, displaying the net change in your chart's visible range. There's also the "Timestamp" option, which allows you to select a specific point in time from where the values are accumulated. The timestamp anchor can be dragged to a desired bar via Tradingview's interactive option. Timestamp is particularly useful when looking for outperformers/underperformers after a market-wide move. The input positioned next to the period selection determines the timeframe on which the data is based. It's best to leave it at default (Chart Timeframe) unless you want to check the higher timeframe structure of the data. ◽️ Data The first input in this section determines the data that will be displayed. You can choose between Price, OI, and OBV. The second input lets you select which one out of the three asset groups should be displayed. The symbols in the asset group can be modified in the bottom section of the indicator settings. ◽️ Appearance You can choose to plot the data in the form of lines, circles, areas, and columns. The colors can be selected by choosing one of the six pre-prepared color palettes. ◽️ Labeling This input allows you to show/hide the labels and select their appearance and size. You can choose between Label (colored pointed label), Label and Line (colored pointed label with a line that connects it to the plot), or Text Label (colored text). ◽️ Smoothing If selected, this option will smooth the values using a Simple Moving Average (SMA) with a custom length. This is used to reduce noise and improve the visibility of plotted data. ◽️ Highlight If selected, this option will highlight the top and bottom N (custom number) plots, while shading the others. This makes the symbols with extreme values stand out from the rest. ◽️ Group Mean This input allows you to select the data that will be considered as the group mean. You can choose between Group Average (the average value of all assets in the group) or First Ticker (the value of the ticker that is positioned first on the group's list). The mean is then used in calculations such as correlation (as the second variable) and beta (as a benchmark). You can also choose to plot the mean by clicking on the checkbox. ◽️ Profile If selected, the script will generate a vertical volume profile-like display with 10 zones/nodes, visualizing the distribution of assets below and above the mean. This makes it easy to see how many or what percentage of assets are outperforming or underperforming the mean. ◽️ Gradient If selected, this option will color the plots with a gradient based on the proximity of the value to the upper extreme, zero, and lower extreme. ◽️ Table This section includes several settings for the table's appearance and the data displayed in it. The "Reference Length" input determines the number of bars back that are used for calculating correlation and beta, while "RSI Length" determines the length used for calculating the Relative Strength Index. You can choose the data that should be displayed in the table by using the checkboxes. ◽️ Asset Groups This section allows you to modify the symbols that have been selected to be a part of the 3 asset groups. If you want to change a symbol, you can simply click on the field and type the ticker of another one. You can also show/hide a specific asset by using the checkbox next to the field.
Editors' picks
Pine Script™ indicator
by LeviathanCapital
64
Buyer/Seller Dominance ©TMW The "Buyer/Seller Dominance" indicator script, developed by Deepanshu Sharma under The Market Wisdom (TMW), is a powerful analytical tool designed for use on the TradingView platform. This script is released under the Mozilla Public License 2.0, and it offers traders and investors an innovative perspective on market dynamics by assessing the relative strength of buyers and sellers within a given time frame. Key Features: 1. Dominance Calculation: The indicator calculates the dominance of buyers and sellers over a specified number of candles. Users can define the number of candles (`n`) to consider in the dominance calculation. 2. Visual Representation: The script provides a visual representation of buyer and seller dominance using colored columns on the price chart. Green columns represent buyer dominance, while red columns represent seller dominance. 3. Balance Line: The indicator includes a dashed horizontal line at the zero level, representing a balance point between buyer and seller dominance. When the green and red columns cross this line, it signifies shifts in market sentiment. How it Works: The script divides the historical price data into segments of specified candle count (`n`) and assesses each segment's dominance. It calculates the volume associated with both green (bullish) and red (bearish) candles within each segment. If a candle's closing price is higher than its opening price, it is considered a green candle. Similarly, if the closing price is lower than the opening price, the candle is classified as red. The volume of each respective type of candle is then accumulated for each segment. The script plots the cumulative green candle volume as the "Buyer Dominance" column and the cumulative red candle volume as the "Seller Dominance" column. This visual representation helps traders gauge the ebb and flow of buyer and seller strength in the market. Disclaimer : The indicator is provided for informational purposes only and should not be considered as financial advice. It's important to conduct thorough research and analysis before making any trading decisions. The creator, Deepanshu Sharma, and "The Market Wisdom" team are not responsible for any trading losses incurred based on the usage of this indicator. Remember that trading involves risks, and historical performance may not necessarily predict future results. Always consider multiple indicators, market trends, and risk management strategies when making trading decisions.
Pine Script™ indicator
by Deepanshu-sharma
2
JK - Q SuiteThis indicator is primarily for identifying pauses in Stage 2 uptrends, modelled on Qullamaggie's style of trading, but fits well with many traders including William O' Neil. or Mark Minervini. I built this for my own purposes, and have gradually added range of tools into a single suite. My goal has also to be as clean as possible, while providing clear, actionable information. This suite includes all of the following: Moving averages (10, 20, 50, 200) Coloured bars showing tightening price (blue under 75% of ADR, orange under 50% of ADR) A 'markets' dashboard (top-right), showing the major indexes. Red if 10<20MA, or price <20MA A 'sectors' dashboard (top-right, below markets). Red if 5<10MA, or price <10MA - see note below Strength / Weakness information - two cells at the top, bottom-right. See below Stock information - glanceable stock info as quick filters. The thresholds for ADR, Average volume, and Dollar Volume can be customised. NOTE - if the 'tightening coloured candles' are not showing, the indicator needs to be at the top of the stack. Click the triple squares at the very bottom-right of the TradingView interface, and drag the indicator to the top, should work then! ============= Sectors These are based on the 11 official Sectors, tracked using index funds (XLY, XLK etc). HOWEVER, TradingView does NOT use the official 11 sectors - therefore I've done my best to match TradingViews ones to the official ones, but doesn't always work... e.g. 'Electronic Technology' is typically semiconductors, which are classes as 'Industrials', but Apple is the same sector in TV, but classed as 'Technology' using the official 11 Sectors. If TradingView move to use the official 11 I'll update this, but for now it's a best guess and will sometimes be wrong, sorry! Strength / Weakness information This was an experiment in trying not to give too much back to the market! Typically the strategy would be to sell if price closes below 10MA (Weakness), however there may be large pops that can be advantageous to sell into. The 'Strength' information (top cell, bottom-right), checks how far the price is extended above 10MA - this is customisable as a multiple of ADR. You may find that in weak markets (like now), it can be best to take profits quickly - in good markets, you could increase this as stocks make bigger or more sustained moves. ============= While I'm not the best coder - and I've hacked and tried and changed different things - this has been a labour of love and essential for me. If you have any suggestions, while I may or may not be able to implement them, I'm certainly open to ideas!
Pine Script™ indicator
by Se99jmk
16
3M_RANGE/ErkOzi/Hello Dear Investors, Today, I'd like to introduce you to an indicator called "3M Range" and explain how this indicator is calculated, as well as the kind of strategy it can offer. What is the 3M Range Indicator? "3M Range" is an analytical tool designed to identify and visualize market movements within three-month periods. This indicator employs specific levels and Fibonacci levels to assist investors in understanding market trends. How is it Calculated? The indicator utilizes the opening, highest, and lowest prices of three-month periods starting on Mondays. By using these prices, the indicator tracks weekly opening prices and marks the opening prices every Monday. How Does the Indicator's Strategy Work? Using this indicator, you can refine your long-term investment strategies: Identify Three-Month Periods: The indicator follows the opening, highest, and lowest prices in three-month periods. This allows for a clearer understanding of long-term trends. Utilize Fibonacci Levels: The indicator calculates Fibonacci levels to show support and resistance levels. These levels can help predict potential reversals or ongoing movements. Observe Monday Opening Prices: The indicator distinctly marks Monday opening prices. This helps you capture potential movements at the beginning of the week. Evaluate Trends and Opportunities: By using the indicator, you can observe long-term trends and potential market opportunities more clearly. In Conclusion, The "3M Range" indicator provides long-term investors with a better analytical tool by showcasing market movements within three-month periods. The indicator marks Monday opening prices and allows for analysis supported by Fibonacci levels. By using this indicator, you can shape your long-term investment strategies more consciously. Always remember that, as with anything, making careful and informed decisions is crucial when investing. I hope this indicator helps you better navigate your long-term investments. Note: Understanding market risks and utilizing analytical tools carefully is always important. Best of luck!
Pine Script™ indicator
by ErkOzi
Rectified BB% for option tradingThis indicator shows the bollinger bands against the price all expressed in percentage of the mean BB value. With one sight you can see the amplitude of BB and the variation of the price, evaluate a reenter of the price in the BB. The relative price is visualized as a candle with open/high/low/close value exspressed as percentage deviation from the BB mean The indicator include a modified RSI, remapped from 0/100 to -100/100. You can choose the BB parameters (length, standard deviation multiplier) and the RSI parameter (length, overbougth threshold, ovrsold threshold) You can exclude/include the candles and the RSI line. The indicator can be used to sell options when the volatility is high (the bollinger band is wide) and the price is reentering inside the bands. If the price is forming a supply or demand area it can be a good opportunity to sell a bull put or a bear call The RSI can be used as confirm of the supply/demand formation If the bollinger band is narrow and the RSI is overbought/oversold it indicate a better opportunity to buy options the indicator is designed to work with daily timeframe and default parameters.
Pine Script™ indicator
by Shagrath84
1
McClellan Indicators (Oscillator, Summation Index w/ RSI & MACD)Four indicators in one based on the McClellan Oscillator for both the NYSE and Nasdaq exchanges. Designed to be used in conjunction with each other- plot the Oscillator (Osc), Summation Index (MSI), and RSI/MACD of the MSI on both your SPX and Nasdaq chart. Select the exchange and indicator within the settings. These tools are secondary- but when the signals are combined with the action of the index and stocks can be helpful in identifying market turns and trend strength. McClellan Oscillator-- The Osc is a market breadth tool that uses a fast and slow EMA based on the difference between advancing and declining stocks on the exchange. Used primarily to identify breadth thrusts, divergences, and extremes (oversold/overbought). Plot horizontal levels to see when the market internals are extremely overbought or oversold, and take note of when the Osc is declining while the market is advancing or vice versa. McClellan Summation Index-- For intermediate trends the MSI is a running total of the Osc which can be used to confirm the strength of a trend, and spot potential reversals. A 10 period ema is included on this indicator, where crossovers can aid in spotting the change in trend of market internals, and divergences can identify when market internals are not in line with the trend. Shading is applied for when the internals are in a bullish or bearish trend. Two additional indicators are the RSI and MACD of the Summation Index. An overbought or oversold MSI RSI generally indicates a strong trend in the market internals, however you may want to take note when the RSI stalls and begins to "hook" in the opposite direction. This indicator has signals to show when the market internals may be turning and to be on lookout for trend change. Similarly- the MACD of the MSI identifies the strength of the trend, and crossovers can be used to help spot reversals. Shading is included in this indicator to spot the bullish/bearish trend of internals.
Pine Script™ indicator
by crutchie
Short Term IndeXThe Short-Term Index (STIX) is a simple market indicator designed to assess short-term overbought or oversold conditions in the stock market. Leveraging a combination of advancing and declining issues, STIX provides valuable insights into market sentiment and potential reversals. To enhance its interpretability and reveal the underlying trend with greater clarity, STIX has been refined through a Heiken-Ashi transformation, ensuring a smoother representation of market dynamics. Calculation and Methodology: stix = ta.ema(adv / (adv + dec) * 100, len) STIX is calculated by dividing the difference between the sum of advancing issues (ADV) by the total number of issues traded (ADV + DEC). This quotient is multiplied by 100 to express the result as a percentage. The STIX index ranges from 0 to 100, where extreme values indicate potential overbought (mainly above 60) or oversold (mainly below 40) market conditions. Heiken-Ashi Transformation: By applying a Heiken-Ashi transformation to STIX, the indicator gains improved visual clarity and noise reduction. This transformation enhances the ability to identify trend shifts and potential reversal points, making it an even more valuable tool for traders and investors. Utility and Use Cases: -The Short-Term Index (STIX) offers a range of practical applications- 1. Overbought/Oversold Conditions: STIX provides a clear indication of short-term overbought or oversold conditions, helping traders anticipate potential market reversals. 2. Reversal Points: STIX can help pinpoint potential reversal points in short-term market trends, providing traders with opportunities to enter or exit positions. 3. Trend Analysis: By observing STIX values over time, traders can assess the strength and sustainability of short-term trends, aiding in trend-following strategies. The Short-Term Index (STIX), enhanced by its Heiken-Ashi transformation, equips traders and investors with a tool for assessing short-term market conditions, confirming price movements, and identifying potential reversal points. Its robust methodology and refined presentation contribute to a more comprehensive understanding of short-term market dynamics, enabling traders to make well-informed trading decisions. See Also: - Other Market Breadth Indicators-
Pine Script™ indicator
by EliCobra
3