Ehlers Modified Relative Strength Index [CC]The Modified Relative Strength Index was created by John Ehlers (Cycle Analytics For Traders pgs 87-88) and this is a typical RSI that uses his roofing filter as the input. He smooths it with his own super smoother filter to provide signals. This indicator is extremely reactive and works in cycles so keep that in mind. I haven't been able to come up with clear buy and sell signals at this point so let me know if you any suggestions but I'm publishing the code to complete my goal of publishing all of his work one day. I will be publishing a bunch of Ehlers scripts in the next few weeks so stay tuned. What I recommend for buy and sell signals at this point are to buy when the indicator goes below the oversold line and starts going up and sell when the indicator goes below the oversold line a second time. Vice versa for sell signals.
Let me know if there are any other scripts you would like to see me publish!
Centered Oscillators
% DivergenceSimple script to plot the amount of divergence between a source signal and the price of the chart.
I have an RSI version uploaded but this one allows any input. Figured RSI would be most useful most likely but this could be useful to have access to as well.
% Divergence of RSIA simple script that plots the difference between the %ROC of price vs the %ROC of RSI, AKA the % of divergence. A simple way to analyze how strong a potential divergence is. Top reversals are above 0, bottom reversals are below. A value of 0 means price and RSI are changing by the same % value. So, if oscillator is moving up as price moves up, it means divergence is increasing. If oscillator moves down as price moves up, it means divergence is decreasing.
Price Volume Trend + Signal and HistogramThis is a script based on PVT + Signal Line, which can be EMA or SMA. It then plots a histogram which is equal to PVT - Signal. This makes it easier to spot divergences.
To better match up the scales, we decided to add a multiplication factor to the histogram. Each asset and even timeframe requires a different multiplication factor, so please experiment to find what suits you.
Credits and special thanks are listed on the source code.
Natural Directional Combo [CC]The Natural Directional Combo was created by Jim Sloman as part of his Ocean theory series and I believe this is his final unique formula that I'm publishing to make them all open source. If you know of any others then please send me a message. He passed away at a young age and I want to make sure his legacy lives on. Big thanks to @altcoinz and @tmac87 for giving me his full source code and materials in order to publish everything. So like my Natural Market Combo script, this essentially take his Natural Stochastic Indicator and his Natural Directional Index to create his own average of both indicators. Like the market combo indicator, I created a fix to address the errors in his original script and included both strong and normal buy and sell signals. Strong signals are darker in color and normal signals are lighter in color. Buy when the line turns green and sell when it turns red.
Let me know if there are any other scripts you would like to see me publish!
Buy/Sell RatingIdentifies prices above and below input percentile thresholds over the input length of time. Use to identify buy/sell opportunities relative to recent pricing. Also provides percent of price distance from moving average over the same length.
Vortex HeikinThis indicator use macd crossover plus vortex and heikin candle to find the best spot entry.
There a lot to improve if you want, it's only a starting point.
You can change Vortex indicator with ADX indicator to find a better spot, but there could be more false entry.
Pot SizeA little FREE script - which may help people set their trade size and stop levels for bitcoin trades.
NOTE :- This script conveys information that requires "indicator arguments" to be turned on.
TO USE :- To adjust to your requirements, click the cog wheel next to the indicator, and adjust "POT SIZE" (how much dollar you have), "RISK %" (the percentage of your dollar portfolio you would like to risk on this trade) and "BITCOIN AMOUNT" - until the short and long 'stop' lines are in the right place in your estimation, for a stop loss that represents the risk you want in relation to the current price for this trade.
The script takes its reference from the closing price; and doesn't include calculations for spread, fees, true range, and volatility etc. That is left open for anyone to add that if they wish. Anyone using this has to make their own adjustments for such considerations not being in this script and therefore make their own compensations.
Anyone wanting to change anything (because values don't go far enough for you) but doesn't know pinescript, can change the numbers next to "defval", "minval", "maxval", and "step" to their suiting in the script itself.
If you use this, you have to work out for yourself if it is useful for you or not. If you depend on it, you must have your own confidence that the calculations in it are acceptable and correct for your use, and you should check yourself and seek advice before trusting it. I convey no confidence in these calculations or this script, and they must be assumed to be acceptable by you if you use it.
Thanks
M
RSING Indicator [CC]The RSING indicator was created by Alon Horesh (Stocks & Commodities March 2021 pg 11) and this aims to be a better version of rsi that adapts to volume as well as a focus on overall strength. This is trying to fix the issues with the traditional RSI with a lack of volume and the issue where you could have the indicator stay in overbought or oversold territory but the upward or downward momentum continues. This indicator takes ratios of the current volume to it's moving average, the overall momentum of the stock, and the current range in comparison to the std deviation of it's past range and multiplies them all together to create this new indicator. I smooth it with a moving average for easier to read buy and sell signals. I have included strong buy and sell signals as darker colors and normal buy and sell signals as lighter colors. Buy when the line turns green and sell when it turns red.
Let me know if there are any other indicators you would like to see me publish!
Natural Market Combo [CC]The Natural Market Combo was created by Jim Sloman and this is another one of my Ocean series of indicators to provide his full life's work free of charge to everyone. Just as the name implies, this is a combination of his two market indicators ( Natural Market River and Natural Market Mirror ) and this is a momentum indicator like the others. Big thanks to @altcoinz and @tmac87 for providing me the full source code and documentation to be able to publish all of Jim's work. This indicator is very simple to understand in that it takes the 2 market indicators and creates his own average of both indicators then smooths the result. I did fix an error that he didn't account for in his original script so the results are much more accurate. I have included strong buy and sell signals as darker colors and normal buy and sell signals as normal colors. Buy when the line turns green and sell when it turns red.
Let me know if there are any other indicators or scripts you would like to see me publish!
Relative Strength 3D Indicator [CC]This is a custom indicator of mine loosely based on the work by James Garofallou (Stocks and Commodities Sep 2020 pg 14) and this is meant for medium to long term trend confirmations. The idea behind this indicator is to capture 3 different dimensions of trend strength. The first dimension captures the overall strength of the underlying stock vs the market (in this case the S&P 500). The second dimension captures the overall trend strength by assigning a scoring system so when all faster moving averages are stronger than slower moving averages then it gets the max points. The final dimension is the strength of the overall strength of everything so far. Buy when the indicator line turns green and sell when it turns red.
Let me know if there are any other indicators or scripts you would like to see me publish!
CM MACD Custom Indicator - Multiple Time Frame - V2***For a Detailed Video Overview Showing all of the Settings...
Click HERE to View Video
New _CM_MacD_Ult_MTF _V2 Update 07-28-2021
Thanks to @SKTennis for help in Updating code to V2
Added Groups to Settings Pane.
Added Color Plots to Settings Pane
Switched MTF Logic to turn ON/OFF automatically w/ TradingView's Built in Feature
Updated Color Transparency plots to work in future update
Added Ability to Turn ON/OFF Show MacD & Signal Line
Added Ability to Turn ON/OFF Show Histogram
Added Ability to Change MACD Line Colors Based on Trend
Added Ability to Highlight Price Bars Based on Trend
Added Alerts to Settings Pane.
Customized how Alerts work. Must keep Checked in Settings Pane, and When you go to Alerts Panel, Change Symbol to Indicator (CM_Ult_MacD_MTF_V2)
Customized Alerts to Show Symbol, TimeFrame, Closing Price, MACD Crosses Up & MACD Crosses Down Signals in Alert
Alerts are Pre-Set to only Alert on Bar Close
See Video for Detailed Overview
New Updates Coming Soon!!!
***Please Post Feedback and Any Feature Requests in the Comments Section Below***
Natural Directional Index [CC]The Natural Directional Index was created by Jim Sloman and this is another indicator that I'm publishing from the collection of Ocean indicators. I want to make sure his legacy is covered by as many eyes as possible. This is his version of the directional index indicator but he uses his weighting method to use the square root of time and you can see that the signals are very smooth. Big thanks of course to @altcoinz and @tmac87 for helping me get the full source code and files for all of his work. This indicator captures the current trend and I have used my strong buy and sell signals to let you know the strength of the current trend. Darker colors are for strong signals and lighter colors are for normal ones. Buy when the line turns green and sell when it turns red.
Let me know if there are any other indicators you would like to see me publish!
Inverse Fisher Transform on RSI for backtest w/alertsThis version of the Inverse Fisher Transform on RSI comes with support for
1) Backtesting with Gavin's backtest script
2) Bypass, you can use another indicator to pause buy signals from this indicator. Just create another indicator that plots "1" whenever you want to activate the bypass on the IFTRSI signal.
3) Independent buy and sell level thresholds. Some tokens perform better with a higher sell level, even levels as high as 0.996, sometimes the buy level can also be relaxed to even 0.6 and get incredible results on the 5 minute chart.
4) alerts for Buy and Sell signals
Make sure you add Gavin's backtest and select external signal and this indicator as the source.
CCI BBThis indicator is the idea of giorno_4_16 .
It shows some indicator lines in your main chart as following:
SMA300, EMA200
BB 20 1,2,3sigma and middle
BB 300 1,2,3sigma and middle
You should put CCI (12, 14) into your separated chart to use the idea.
It shows arrows for registance trading when:
CCI(12) crossovers -200 or corssunders 200 in recent 6bars,
and the price crosses indicator line of SMA200, EMA200 and BB300 1,2,3sigma.
When CCI crossovers -200, you can condisider buying.
When CCI crossunders 200, you can condisider selling.
You should use this indicator in 1H or 4H.
When an arrow appears in 1H, change timeframe to 4H and check the slope of BB20.
If the slope is gentle, take-profit target is MA20 of 1H.
If the slope is steep(ex. CCI crossovers -200 and 4H BB20 go up steeply), take-profit target is BB20 2sigma of 1H.
Natural Stochastic Indicator [CC]The Natural Stochastic Indicator was created by Jim Sloman and this is another indicator from his Ocean series which I will eventually publish all of them. Big thanks to @altcoinz and @tmac87 for giving me all of the source code in order to publish Jim's life work. This is another momentum indicator but unlike a traditional stochastic indicator, this one doesn't use overbought and oversold levels. Instead it becomes a sell signal when the indicator starts getting lower and vice versa. This takes the classic approach to a stochastic and combines it with the time factor from Jim's Ocean Theory to create this new indicator. I have included strong buy and sell signals as darker colors and normal buy and sell signals as lighter colors. Buy when the line turns green and sell when it turns red.
Let me know if there are any other indicators you would like to see me publish!
Natural Market Slope [CC]The Natural Market Slope was created by Jim Sloman and this is one of his many Ocean Indicators which I'm publishing thanks to receiving source materials from @altcoinz and @tmac87. I did completely rewrite the formula for this indicator but I commented out the original calculation so you can compare or just for study purposes. I like this version better because it is very smooth and the original formula is a bit faster with response but is very choppy in comparison.
This indicator was the basis for his Natural Market Combo which I will be publishing very soon so stay tuned for that. The idea behind all of his Natural indicators was to use the natural log of the current price in different ways. This indicator obviously focuses on the slope and it essentially becomes another momentum indicator which peaks when the upward momentum is gone and vice versa. Buy when the line turns green and sell when it turns red. I have added strong buy and sell signals in addition to the normal ones and strong signals are darker in color in comparison to the original lighter colors.
Let me know if there are any other indicators you would like to see me publish!
3CCI & 3RSI for botsThis script is for trading grid bots. Only CCI and RSI are used, but there are three different timeframes available for each. When using it, you must select a chart with a period equal to or less than the minimum in the indicator settings. For example, the following periods are selected in the settings: 1 hour, 15 minutes, 5 minutes, so we use a 5-minute chart. A buy or sell signal will be received if the settings of all 6 indicators match. The default settings do not carry any information, use your own. The code is quite simple and may be of interest to a beginner like me.
EWO Breaking Bands & XTLElliott Wave Principle, developed by Ralph Nelson Elliott , proposes that the seemingly chaotic behaviour of the different financial markets isn’t actually chaotic. In fact the markets moves in predictable, repetitive cycles or waves and can be measured and forecast using Fibonacci numbers. These waves are a result of influence on investors from outside sources primarily the current psychology of the masses at that given time. Elliott wave predicts that the prices of the a traded currency pair will evolve in waves: five impulsive waves and three corrective waves. Impulsive waves give the main direction of the market expansion and the corrective waves are in the opposite direction (corrective wave occurrences and combination corrective wave occurrences are much higher comparing to impulsive waves)
The Elliott Wave Oscillator ( EWO ) helps identifying where you are in the 5 / 3 Elliott Waves , mainly the highest/lowest values of the oscillator might indicate a potential bullish / bearish Wave 3. Mathematically expressed, EWO is the difference between a 5 period and 35 period moving average. In this study instead 35-period, Fibonacci number 34 is implemented for the slow moving average and formula becomes ewo = sma (HL2, 5) - sma (HL2, 34)
The Elliott Wave Oscillator enables traders to track Elliott Wave counts and divergences. It allows traders to observe when an existing wave ends and when a new one begins. Included with the EWO are the breakout bands that help identify strong impulses.
The Expert Trend Locator ( XTL ) was developed by Tom Joseph (in his book Applying Technical Analysis) to identify major trends, similar to Elliott Wave 3 type swings.
Blue bars are bullish and indicate a potential upwards impulse.
Red bars are bearish and indicate a potential downwards impulse.
White bars indicate no trend is detected at the moment.
Added "TSI Arrows". The arrows is intended to help the viewer identify potential turning points. The presence of arrows indicates that the TSI indicator is either "curling" up under the signal line, or "curling" down over the signal line. This can help to anticipate reversals, or moves in favor of trend direction.
RedK Volume-Weighted Directional Efficiency Index (DXF)RedK Volume-Weighted Directional Efficiency Index (DXF) is a momentum indicator - that builds on Kaufman's Efficiency Ratio (ER) concept.
DXF utilizes a restricted +100/-100 oscillator to represent the "quality" of a trend, and does a good job in detecting the possibility of an upcoming trend change (in both direction and quality), improving our ability to make decisions on trade entries and exits.
Here's a quick background on Kaufman's Efficiency Ratio (ER)
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Developed by Perry Kaufman and introduced in his book “New Trading Systems and Methods”, the Efficiency Ratio reflects relative market speed to volatility. There are cases, when it is used as a filter, which helps a trader to avoid ”choppy” markets or trading ranges and to identify smoother trends.
ER is the result of dividing the net change in price movement during n-periods by the sum of all bar-to-bar price changes during the same n-periods. In case the market is trending smoother, then the ratio will be higher. In case the ratio shows readings in proximity to zero, this implies that market movement is inefficient and ”choppy”.
If the Efficiency Ratio shows a reading of +100, this means that the trading instrument is in a bull trend and trending with perfect efficiency.
If the Efficiency Ratio shows a reading of -100, this means that the trading instrument is in a bear trend and trending with perfect efficiency.
It is impossible for any instrument to have a perfect Efficiency ratio, because any movement against the major trend during the examined period of time would cause the ratio to drop.
If the Efficiency Ratio shows a reading above +30 (common setting for the "Significant Level"), this is indicative of a quality bull trend. If the ratio shows a reading below -30, this is indicative of a quality bear trend.
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Kaufman also used the ER as basis for his famous Kaufman Adaptive Moving Average (KAMA).
Read more on ER & Kama here
How is DXF different from other ER-based indicators?
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- Let's get the easy part out of the way: DXF has a "volume-weighting" option ✔
This option is OFF by default (to avoid errors with instruments with no volume data)
- once this option is applied, it provides the benefit of combining the volume effect into the calculation - those who appreciate the effect of volume on price action will hopefully find this option valuable
- The calculation of ER and how it can be "best utilized":
Let's examine the ER concept a bit closer: as a (math) concept, the (original) Efficiency Ratio (ER) takes the positive change of the price of an instrument during a certain period, and divide it by the sum of (absolute) price moves that were observed during that same period.
So, in the trader's language, we will be saying "out of a total of $20 moves (up and down) that MSFT did in the past 10 days, MSFT only made a net change of $5 up during that period" - so the "10-day ER" for MSFT in that case is 5/20 = 25% -- then we continue to observe that ongoing "10-day ER" and if it increases, we can expect that MSFT is going to establish a strong move (trend) up --- right?
the magic word here is to "observe the ongoing ER" - many of the ER based indicators just use the ER as calculated by Kaufman's original method. IMHO, these are just "point-in-time readings" - if we hope to get real insights from the ER, we need to take an average of that reading - for our "time window" we're interested in - and only then we can identify trends and patterns in the ER value as it changes during that windowss- DXF does that - and that allows a trader to say "the (weighted) 5-day average of the 10-day ER for MSFT is increasing, and that why i expect an up-trend" -- makes sense ? both the "Lookback" used to calculate the ER, and the Length of observed "window" for the Average ER are adjustable in DXF settings
Other Uses and Settings :
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- As a momentum indicator, DXF can predict an upcoming change of trend - cause that will reflect on the average ER value. There are few examples in the chart where the price move and ER trend *do not agree* - The trader can see these signs and take decisions accordingly
- DXF can help reveal best entries and exits: assume we are long-term bullish on MSFT, and we want to "buy the dip" - DXF can help reveal the time where price is recovering from extreme weakness - and that would be the ideal buy opportunities for us - exampled marked on the chart
- the Stepping & Smoothing options enable better visualization of the DXF plot. the "raw" DXF is still shown as a silver line.
- The "Significant Levels" option is available and is set to -20/+20 by default .. also adjustable in indicator settings.
- Please use DXF in combination with other trend and volume indicators, and with thorough chart / price action analysis and not in isolation to ensure you get proper signal confirmation for trades. In the chart above, you can see DXF combined with a moving average that can act as a filter and to confirm the price moves.
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As usual, feedback & comments are welcome - if you find this work useful in your trading arsenal, please share a comment - i would be more than happy to learn about that. Good luck!
Ehlers AutoCorrelation Indicator [CC]The AutoCorrelation Indicator was created by John Ehlers (Cycle Analytics pgs 94-98) and this can be viewed as both a momentum indicator and a trend indicator. This was his basis for several other indicators that he created which I will be publishing soon but essentially as this indicator goes up then the stock is in an uptrend and also has upward momentum. You will notice that this indicator starts to go down even during an uptrend showing that the underlying trend is going to have an upcoming reversal. He also warns that the halfway mark is a possible reversal point so keep an eye out for that.
Generally speaking a good signal is to enter a long position when the indicator is under the midline and is starting to go up (or when the line is green) and to exit the position when the indicator goes over the midline. I have included strong buy and sell signals in addition to normal ones so darker colors mean strong signals and lighter colors mean normal signals.
Let me know if there are any other indicators you would like me to publish!
Relative Volume (RVOL)Relative Volume is calculated by taking the ratio of current volume relative to a moving average of your choice. It gives you a quick way to see how much volume is involved in the current movement relative to a recent period.
Features:
-Customizable Moving Average: You can choose the period (default is 21) and type (SMA or EMA)
-Customizable base level: Default setting is 1.
-Smoothing option: Uses a Hull moving average to smooth out the RVOL area plot, by default its turned off.
Enjoy!
Ehlers Adaptive Relative Strength Index V1 [CC]The Adaptive Relative Strength Index was created by John Ehlers and this is his first version. I will of course publish his updated version at a later date along with publishing the final script from Jim Sloman's Ocean Theory book. I have changed his script to include extra smoothing to provide clear buy and sell signals. This is a version of a RSI that is very adaptive to changes by finding the length of the current cycle and using that to calculate the rsi and I use this same basic process to provide extra smoothing. A great strategy of course is to buy right after the indicator goes from below the oversold level to right above it and stay in until the indicator turns red or when it reaches the overbought level. I have included strong buy and sell signals in addition to normal ones and the darker colors mean strong signals and lighter colors are normal signals.
Let me know what other indicators you would like to see me publish!
