Relative Volume Force IndexThis indicator can anticipate the market movements. Its posible because it calculates how much force (volume) it's necessary to move the price up or down. If it's necessary a lot of volume to move the price a little it's a reversion signal, but if a little volume could change the price whit elevate volatility, it's signal of reversion too. The indicator plots red if the market is down, and green if it's up, the size and the color of the bars cand demonstrate the movement relative force. Does it by the configurable averages. Not works well whit poor liquidity.
Force
Money Flow LineWhat is this? The Money Flow Line (MFL) indicator is at its core a more even-tempered version of the Price-Volume-Trend (PVT). The primary difference is the usage of `hlc3` ((high + low + close) / 3) rather than `close` to use the "typical price" that it critical to the calculation of the Money Flow Index (MFI). Other similar indicators include the Accumulation Distribution Line (ADL) and the On Balance Volume (OBV) indicators. The purpose of all of these indicators is to attempt to measure the strength of the money flow by combining price and volume into a rolling measurement that can be compared over time to look for confirmations and divergences.
The indicator also includes an optional averaging (smoothing) line that can be enabled in the display settings. Enabling this smoothing line with a desired period allows for simpler trend comparisons and also allows the user to view how far the line has diverged from the mean. This creates an indicator very similar to Elder's Force Index (EFI), which is also a `close * volume` style indicator.
Why is this important? After an extreme movement or volume spike the MFI will "snap back" sharply as that bar eventually exits the set period. This produces a result that is meaningless and skews the indicator away from the market structure. Because of this behavior, range clamping, and the loss of comparative history I prefer to shy away from oscillator style indicators. The Money Flow Line instead gives you all of the history so you may compare and see the broader trend without sharp snaps in history based on an arbitrary period setting.
Why is this better? This produces a no-lag indicator that isn't subject to the harsh skewing produced by they Money Flow Index's period calculation. It doesn't lose history like MFI or EFI, is clear about the trend direction, and prefers a "typical price" (averaging the entire range of each bar) rather than whatever happens to be the closing price for a given bar.
How can I use it? The indicator is attempting to measure supply and demand in the markets. No indicator is perfect, but we can use all of the information we have available to make our best predictions. There are only 3 pieces of data the market gives us:
1. Price (action)
2. Volume
3. Time
The Money Flow Line combines all of these data points into a readable rolling data set that attempts to show subtle balance of power shifts based on changes in volume and "smart money" (or "big money") stepping in and out of the picture. Much like PVT, we look for the same things:
- Trend Identification: an up or down trend appears in the MFL
- Confirmations: the MFL agrees with price action in direction and magnitude
- Divergence: the MFL disagrees with price action, indicating a reversal may be coming soon
When applying the smoothing line we can also look for similar things we would with EFI. The primary case would be to look for the MFL to jump very far away from the mean (a high magnitude movement) which indicates that price may be reverting towards the mean soon (a "mean reversion"). On the other hand, it may indicate strength in the current price direction. All of these predictions depend heavily on price action and market structure. Good luck!
DRC's Force Index
Version 1.2 Update:
No need for scaling up/down anymore
No need for setting up so many parameters
Ability to mix instantaneous indicator with averaged indicator (its different from just making a moving average)
Mass obtention has been improved
Velocity calculation has been improved, by considering highs and lows
Acceleration calculation has been simplified
Diego Riobo Cabot's Force Indicator Diego Riobo Cabot
© riobocabotd
Analysing the Market as Physical Forces
Credits First:
Tradingview Pine Comunity, it's just amazing, honestly.
Godmode Indicator's creators. I was inspired by them to create an indicator that takes a lot of variables into account. I also took the idea of the Momentum and LSMA from there
Function te get volume from lower tf was taken from a post in stack overflow. So, credits to you, anonymous hero.
Let's get to it:
so... What is this thing, exactly?
I wanted to measure the market's upward and downard force, in order to calculate the resulting force. Just as a curiosity.
At the end, I got a pretty decent indicator in my hands and I'd like to share it with you guys.
The main goal was to apply basic rules of physics: Velocity, Acceleration, Mass and Force (We could go further if we wanted, such as Impulse, Quantity of Movement, Impact and so on)
Everything appart from mass is a vector, meaning it has a direcction and a magnitude. Each of them were decompossed in upwards and downwards direction
Nevertheless I pictured this Analysis as a "fight" between two teams the Bulls and the Bears (Buyers and Sellers). So I measured two masses: Bulls (+) and Bears(-)
Glossary (internal Clockwork)
° Velocity: Is the ratio between a travelled distance and the time that took to travel it.
+ Upwards Velocity (v_up): Meausures if current source is higher than the previous and stores this value. Has positive values
+ Downwards Velocity (v_dn): Meausures if current source is lower than the previous and stores this value. Has negative values
+ Both vectors are averaged using the rma function (same average type used in the RSI)
+ The length of this average is called length_v: "Lookback - Velocity"
+ Resultant Velocity (v_av): The sum of the averaged v_up and v_dn, since they have equally opposite directions, there's no need for a vectorial sum.
+ Velocity Index (v_in): It's an index between +100% and -100%. Meausures where v_av stands in relation to high (v_up) and low (v_dn). Not used for calculations, but I'll leave it there for further research
° Acceleration: Meausures the rate of change of velocity during time. Since we already have the velocity calculated, it's pretty straight forward
+ Upwards Vel increase (v_up_up): Stores positive variations of upwards' velocity.
+ Upwards Vel decrease (v_up_dn): Stores negative variations of upwards' velocity.
+ Downwards Vel increase (v_dn_up): Stores positive variations of downwards' velocity.
+ Downwards Vel decrease (v_dn_dn): Stores negative variations of downwards' velocity.
+ Upwards Accel. (a_up): v_up_up + v_dn_up
+ Downwards Accel. (a_dn): v_up_dn + v_dn_dn
+ Resultant Accel. (a_av): a_up + a:dn Not used, is there for further research
° Mass: Measures the volume of operations. How much asset is bougth (Bull) or sold (bears).
+ Mass is measured from a lower timeframe. It checks if the candles are Bullish or Bearish (Could be done with closing prices, or typical price)
+ The Lower Timeframe is determined in minutes throught the input variable "Lower Timeframe"
+ Bull mass (vol_up): Total bullish volume in the lower timeframe, for the current candle period
+ Bear mass (vol_dn): Total bearish volume in the lower timeframe, for the current candle period
+ Neutral mass (vol_nt): Total neutral volume in the lower timeframe. (Buy price = Open price) Not used for calculations. Could be used for resistance points?
+ Resultant mass (vol_av): |vol_up - vol_dn|
+ Total mass (vol_tt): Sum of all masses (Just the total volume)
° Force: It's nothing else than mass * acceleration
+ Upwards Force (f_up): vol_up * a_up Bulls mass * Positive Acceleration
+ Downwards Force (f_dn): vol_dn * a_dn Bears mass * Negative Acceleration.
+ Resultant Force (f_av): f_up + f_dn Not used, is there for further research
° Force Index
+ Upwards Channel (fi_up)
+ Downwards Channel (fi_dn)
+ Both vectors are averaged using the rma function (same average type used in the RSI)
+ The length of this average is called length_v: "Lookback - Force"
+ Raw Index (fi_rw): It's an index between +100% and -100%. Meausures where f_av stands in relation to high (f_up) and low (f_dn).
+ Index (fi_in): It's the averaged raw index using the rma function and the "Force Index Smoothing" period
+ Signal (fi_sg): It's the averaged fi_in using the rma function and the "Force Signal Smoothing" period
+ Momentum (fi_mo): fi_in - f_sg. If the momentum is higher than the current force direction, current force should be outwon by previos market trend. It's Smoothed out using the "Force Momentum Lookback"
+ Trend (fi_tr): It's a linear regression of fi_in using a very long period (Force Trend Lookback)
Okay... sure, but how do I use it?
° It is very similar to how the GodMode 3.2 indicator works actually, so if you're familiar with it, you can start trying this indicator out. I've noticed it can provide a bit more timely signals
° It's also similar to Stochastics or RSI indices... but with three lines. an instantaneous one (Force - Blue), an averaged one (Signal - Orange) and a slow one (Trend - Green)
° Bullish/Bearish momentum: Trendline (green) above 0% means Bullish. Above 12% means a trend wants to form and if it reaches 40% means the strend is super strong (Bitcoin like, strong). The opposite goes for bearish trends (values under 0)
° Line crossings: Instant Force Line (Blue) crosses over the Signal Line (Orange), while the orange is going slightly down or flat under the -12%: Means a long signal. The opposite applies for the Short signals
° Line crossings: Same as above, but when the Signal crosses over the Trend Line (Green)
° Reversals: The background columns are supposed to immitate the "Inertia" of movement. If inertia's bars are higher (when positive) or lower (when negative) than the Force Line (Blue), then it means that the current force the market is making, is probably weaker (at that time) than the inertia the market carries with it.
Tips:
° If you wen't long, the orange line is going slightly down, but it's over +12%, it means the bullish trend is still going, although not as strong as before. You could keep your long position. The reverse applies for short.
Elder Force Index With ATR ChannelsInspired by the new version of the "Force Index" announced by Dr. Alexander Elder a few years ago - "Elder Force Index With ATR Channels".
Unfortunately original version of script only works on MetaTrader platforms, so this is an attempt to
implement this great idea on TradingView too.
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Here is original script explanation by Dr. Elder himself
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Adding Average True Range (ATR) channels to Force Index had been suggested by Kerry Lovvorn.
Adding these channels turns Force Index into an excellent tool for identifying intermediate tops and bottoms.
Force Index with ATR channels does not catch all turns, but the ones it identifies deserve very serious attention.
Note: the word “true” in Average True Range refers to dealing with price gaps. Since there are no gaps in Force Index, here ATR is the same as the Average Range.
Whenever the Force Index rises above or falls below its 3-ATR channel, it signals that the ticker has reached an area of an unsustainable extreme.
That’s where rallies and declines become exhausted and prices tend to reverse. This is one of very few tools that are equally efficient in calling both top and bottom areas.
In our experience, these signals work especially well on the weekly charts.
Of course, users are welcome to experiment with them in any timeframe.
One possible option is to use the new Force Index with ATR Channels on your weekly charts and the original Force Index on your daily chart.
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- The Force Index is drawn in blue with a thick line.
- The Averaged Force is a solid red line.
- The upper and lower bands at 1 ATR are drawn in dotted lines.
- The upper and lower bands at 2 ATR use dashed lines.
- The upper and lower bands at 3 ATR are solid gray lines.
- Red dots placed above the plot when the EMA of Force Index rises above the 3-ATR channel.
- Green dots placed underneath the plot when that EMA declines below the 3-ATR channel.
***** Original script programmed to truncate values at the 4-ATR level to prevent any extreme value from flattening the rest of the plot -
- I'm not yet implemented this feature here - hopefully coming soon.
CyclesThis is a modified Stochastic indicator. Modifications include:
1. The output is now centered on "0" and the scale is from -50 to +50, so that histograms and columns can be used to plot the output.
2. Added visual trade setup triggers. A trigger to the up side is a cycle high and indicates a "sell signal". A trigger to the down side is a cycle low and indicates a "buy" signal.
3. Added an alert trigger to be used to setup alerts. Selecting "Alert" to be Greater Than (>) Value = 0.00 will trigger an alert if either the buy or sell triggers occur.
4. Added a force indicator output. This indicates the rate of change in "D", or mathematically "dD/dt", as was done in the Power Analyzer indicator. When Force and D are in-phase, the maximum power is achieved.
5. Added "Slow Average Momentum" and "Slow Average Force" as was done in the Power Analyzer indicator.
6. Added an internal MACD and EMA as part of the trade setup trigger equation. There is a new input variable for the EMA length.
7. Added an input variable for the "Trigger Threshold", which ranges from -50 to 50, to be used as a screening filter.
Elders Force Index - With Signal EMA - ValenteSame as Elders Force Index, but with an Additional EMA for buy and sell signal
FauxLife EFIModification to Elder's Force Index (EFI)
Ability to change calculation from standard EMA to your choice of SMA, EMA, WMA, or HMA. Very interesting results!
Adjust lookback from standard/suggested 13 candlesticks
Added a color indication to positive or negative force reading
Added background color tint for an easier read on dashboard setups
Suggested pair with my On Balance Volume with Cross to use as a filter & entry/exit setup. Enter or exit trades when the two indicators switch at the same time or within 1-2 candlesticks of each other.
Trend Direction Force IndexThis is my own version of the famous Trend Direction Force Index and I modified the original to make my version react quickly to any trend. I have color coded the indicator to make it extremely easy to read so if it is green then buy and red then sell.
This was a custom request so if you would like more then just send me a message!
Force Index - Multi Timeframe [WYCKOFF ARSENAL]WYCKOFF ARSENAL is now available on TradingView!
Based on <> (Richard D. Wyckoff)
Noted Indicators:
▪ Optimism Pessimism Index
▪ Force Index ◄
▪ Technometer
▪ Momentum
Main Features:
▪ Multi Timeframe is available
▪ Volume based indicators
▪ Can be used on pairs that have volume data
────────────────────────────
Highlights
> Optimism Pessimism Index or OP
The value of the OP is not important.
The action of the OP is important.
The action of the index must be compared to its previous action or to the price index over the same period of time.
> Technometer or TEC
The purpose of the Technometer is to provide a mathematical indication of the degree to which the market is overbought or oversold.
The value of the Technometer could be as high as 100 or as low as 0.
The other possible values would represent degrees of overbought or oversold.
How to read the Technometer:
| Overbought means vulnerable to a reaction |
100 - completely overbought market.
── 60 - actual overbought extreme.
──── 50 or higher is considered to be clearly over bought.
────── lower than 50 - relatively overbought.
──────── Everything in between clearly overbought and clearly oversold is neutral.
────────── A reading of 44.4 is absolute neutrality.
──────── Everything in between clearly overbought and clearly oversold is neutral.
────── higher than 38 - relatively oversold.
──── 38 or lower is considered to be clearly over sold.
── 28 - actual oversold extreme.
0 - completely oversold market.
| Oversold means vulnerable to a rally |
> Force
The purpose of the Force Index is to provide an indication of the pressure being applied to push the market lower or the pull being applied to the market to pull it higher.
> Momentum
The purpose of the Momentum is to provide a measure of the speculative interest in the market.
Optimism Pessimism Index - Multi Timeframe [WYCKOFF ARSENAL]WYCKOFF ARSENAL is now available on TradingView!
Based on <> (Richard D. Wyckoff)
Noted Indicators:
▪ Optimism Pessimism Index ◄
▪ Force Index
▪ Technometer
▪ Momentum
Main Features:
▪ Multi Timeframe is available
▪ Volume based indicators
▪ Can be used on pairs that have volume data
────────────────────────────
Highlights
> Optimism Pessimism Index or OP
The value of the OP is not important.
The action of the OP is important.
The action of the index must be compared to its previous action or to the price index over the same period of time.
> Technometer or TEC
The purpose of the Technometer is to provide a mathematical indication of the degree to which the market is overbought or oversold.
The value of the Technometer could be as high as 100 or as low as 0.
The other possible values would represent degrees of overbought or oversold.
How to read the Technometer:
| Overbought means vulnerable to a reaction |
100 - completely overbought market.
── 60 - actual overbought extreme.
──── 50 or higher is considered to be clearly over bought.
────── lower than 50 - relatively overbought.
──────── Everything in between clearly overbought and clearly oversold is neutral.
────────── A reading of 44.4 is absolute neutrality.
──────── Everything in between clearly overbought and clearly oversold is neutral.
────── higher than 38 - relatively oversold.
──── 38 or lower is considered to be clearly over sold.
── 28 - actual oversold extreme.
0 - completely oversold market.
| Oversold means vulnerable to a rally |
> Force
The purpose of the Force Index is to provide an indication of the pressure being applied to push the market lower or the pull being applied to the market to pull it higher.
> Momentum
The purpose of the Momentum is to provide a measure of the speculative interest in the market.
Volume Momentum‴ | Volume Momentum Colored HistogramVolume Momentum‴ is a Volume Pressure indicator that allows you to have a better understanding and interpretation of its behavior once you are able to see it through an histrogram.
Notice that is histogram has intern bars that allows you to understand the forces of the pressure (positive or negative forces).
This indicator allows you to see the end of the highest price tick which allows you to sell right before price drop.
What is the best is that you can use it with any kind of graphic that it will always considere the real open, close, high and low trading values.
To have access to this indicator, please contact me at: contato @ moneywise . com . br
Believe me, this indicator will make your life much easier!
Relative Force Significant Support & Resistance
Force is best described as net buying or net selling pressure. It is measured by weighting volume by the direction and magnitude of period price change. Hence higher volume or big positive price level changes will result in high net buying pressure, vice versa.
The Relative Force Significant Support & Resistance indicator takes it a step further by denoting the price levels when the short term force deviates significantly from the long-term mean. So when significant net buying or selling force is detected, the prevailing price level is set as a SSR level until the next significant force event.
How to use the Relative Force SSR
SSR levels consist a mixture of red and green dots. Green dots denoted net buying pressure and red dots denotes net selling pressure.
Price action tends to cluster around SSR levels as these are price levels where the bulls and bears are trying to find an equilibrium. For example, in an uptrend, significant net buying is usually a sign of impending weakness as the bull volume have been expended and there are no net incremental buying volume to support the uptrend.
Vice versa, significant net selling volume in an uptrend which does not result in a price correction means there are sufficient bulls to soak up the selling volume.
To simplify matters:-
#1 Price action above SSR levels implies stock is in uptrend
#2 Price action below SSR levels implies stock is in corrective mode
#3 Clustering of SSR levels implies range bound price action
This indicator is time frame independent, so feel free to adjust the chart resolution to see higher level support/resistance levels or to gauge entries in lower time frames.
Linear Momentum and Performance IndicatorsThis a porting to Trading View of the 12 new indicators introduced in IFTA Journal (January Edition) by Akram El Sherbini, MFTA, CFTe, CETA.
Indicators are available in "Linear Momentum and Performance Indicators" at page four.
IFTA Journal is available below:
ifta.org
Indicators implemented herein:
Linear Force Index: The linear force index LFI measures the force of buyers and sellers during rallies and declines, respectively. It combines two important pieces of market information—the price acceleration
and volumes.
Pressure Index: The pressure index PRI measures the buying and selling pressure over a certain range within a time interval by moving around its zero line. The index indicates a rise in buying pressure when it crosses above the zero line and a rise in selling pressure
when it crosses below the zero line level. The buying and selling force moves the last price during the session to form a range with low and high boundaries.
Strength Index Index: The strength index SI is a leading indicator to the pressure index. It measures the ability of buyers to resist sellers and vice versa. SI of today is the ratio of the latest pressure index value to the strain of today.
Power Index: It measures the buying and selling power within a time interval by moving around its zero line.
Intensity Index: The intensity index II measures the buying and selling intensity within a time interval by moving around its zero line.
Dynamic Strength Index: The sole purpose of the dynamic strength index DSI and the integral dynamic strength index IDSI is to lead their intensity indicator peers.
Integral Force Index
Integral Pressure Index
Integral Strength Index
Integral Power Index
Integral Intensity Index
Integral Dynamic Strength Index
The following example shows a trade following the signal while several indicators are crossing the zero line:
Integral performance indicators have a fewer number of trades than the performance indicators. This result is normal, as the integral indicators are less sensitive than their peers. Moreover, the power, intensity, and dynamic strength are less sensitive than the force, pressure, and strength indicators. The same applies for their integrals. Therefore, the integrals of power, intensity, and dynamic strength indicators are more inclined to be medium-term indicators.
As the paper is suggesting "the linear momentum and the new performance indicators should make a significant change in categorizing several indicators in technical analysis."
Technical indicators are using biased mathematical implementations. For example Momentum Index is in reality a velocity indicator, Force index a Momentum indicator and so on. From a Physical perspective correct momentum, force, velocity etc. needs to be corrected and re-categorized.
The author also gives important insights in how these indicators can be used "simultaneously to identify price turning points and filter irrelevant divergences."
"This paper will attempt to adjust the price momentum and force concepts introduced by Welles Wilder and Alexander Elder, respectively. By introducing the concept of linear momentum, new indicators will emerge to dissect the market performance into six main elements: market’s force, pressure, strength, power, intensity, and dynamic strength. This will lead to a deeper insight about market action. The leading performance indicators can be used simultaneously to identify price turning points and filter irrelevant divergences. The linear momentum and the new performance indicators should make a significant change in categorizing several indicators in technical analysis."
Suggestions and feedbacks are welcome
Hope you enjoy this,
CryptoStatistical
Linear Momentum and Performance Indicators (IFTA Jan 2019)This a porting to Trading View of the 12 new indicators introduced in IFTA Journal (January Edition) by Akram El Sherbini, MFTA, CFTe, CETA.
Indicators are available in "Linear Momentum and Performance Indicators" at page four.
IFTA Journal is available below:
ifta.org
Indicators implemented herein:
Linear Force Index: The linear force index LFI measures the force of buyers and sellers during rallies and declines, respectively. It combines two important pieces of market information—the price acceleration
and volumes.
Pressure Index: The pressure index PRI measures the buying and selling pressure over a certain range within a time interval by moving around its zero line. The index indicates a rise in buying pressure when it crosses above the zero line and a rise in selling pressure
when it crosses below the zero line level. The buying and selling force moves the last price during the session to form a range with low and high boundaries.
Strength Index Index : The strength index SI is a leading indicator to the pressure index. It measures the ability of buyers to resist sellers and vice versa. SI of today is the ratio of the latest pressure index value to the strain of today.
Power Index : It measures the buying and selling power within a time interval by moving around its zero line.
Intensity Index : The intensity index II measures the buying and selling intensity within a time interval by moving around its zero line.
Dynamic Strength Index : The sole purpose of the dynamic strength index DSI and the integral dynamic strength index IDSI is to lead their intensity indicator peers.
Integral Force Index
Integral Pressure Index
Integral Strength Index
Integral Power Index
Integral Intensity Index
Integral Dynamic Strength Index
The following example shows a trade following the signal while several indicators are crossing the zero line:
Integral performance indicators have a fewer number of trades than the performance indicators. This result is normal, as the integral indicators are less sensitive than their peers. Moreover, the power, intensity, and dynamic strength are less sensitive than the force, pressure, and strength indicators. The same applies for their integrals. Therefore, the integrals of power, intensity, and dynamic strength indicators are more inclined to be medium-term indicators.
As the paper is suggesting "the linear momentum and the new performance indicators should make a significant change in categorizing several indicators in technical analysis."
Technical indicators are using biased mathematical implementations. For example Momentum Index is in reality a velocity indicator, Force index a Momentum indicator and so on. From a Physical perspective correct momentum, force, velocity etc. needs to be corrected and re-categorized.
The author also gives important insights in how these indicators can be used "simultaneously to identify price turning points and filter irrelevant divergences."
"This paper will attempt to adjust the price momentum and force concepts introduced by Welles Wilder and Alexander Elder, respectively. By introducing the concept of linear momentum, new indicators will emerge to dissect the market performance into six main elements: market’s force, pressure, strength, power, intensity, and dynamic strength. This will lead to a deeper insight about market action. The leading performance indicators can be used simultaneously to identify price turning points and filter irrelevant divergences. The linear momentum and the new performance indicators should make a significant change in categorizing several indicators in technical analysis."
Suggestions and feedback are welcome
Hope you enjoy this,
CryptoStatistical
FORCEFORCE indicator calculates the pressure of buyer and seller in each candle based on volume, price, and shape. It outputs leading volume over that period and its relative strength.
Newton's Gravitational ForceThis Script is meant to apply Newton's equation for Gravitational Force onto the Financial Markets.
FGrav=Gravitational Constant * (Mass1*Mass2)/(Distance between the two objects' center of mass^2)
This script could be used to identify periods of technical market weakness, when the gravitational force becomes negative.
Volume PowerThis indicator allows you to visualize the balance of buy and sell volume.
Volume is scored bullish or bearish and accumulated over a series of bars (defined by the "length" parameter).
This result is then normalized and smoothed.
Directional filterThe idea is to show simply through colors "stronger or weaker" the relevance of candles in the current direction of the asset.
the indicator was made to be used in the graphics of 5m and 15m. based on the SMA20 already indicated previously and with a SMA20 of the graph of 60m.
candles will have their colors modified according to their relevance in the current trend, "A" through "D", where "A" is the strongest and "D" is the weakest.
Conditions:
Buy candle A: price closes above SMA20 (5m or 15m) and above SM20 of 60m.
Buy candle B: price closes above the SMA20 (5m or 15m) and below the SMA20 of 60m.
Buy candle C: Price closes below the SMA20 (5m or 15m) and above the SMA20 60m.
Buy candle D: price closes below the SMA20 (5m or 15m) and below the SMA20 of 60m.
Sell candle A: price closes below the SMA20 (5m or 15m) and below the SMA20 of 60m.
Sell candle B: price closes below the SMA20 (5m or 15m) and above the SMA20 of 60m.
Sell candle C: price closes above the SMA20 (5m or 15m) and below the SMA20 of 60m.
Sell candle D: price closes above the SMA20 (5m or 15m) and above the SMA20 of 60m.
Note 1: SMA8 and SMA200 are also inserted (but they do not interfere with the indicator)
Note 2:
I will leave an image with the colors that represent the relevance of each candle.
imageshack.com
RepulseThis indicator was originally developed by Eric Lefort, a professional trader and author from France.
It gauges and displays the bullish or bearish pressure.
Like and follow for more open source indicators!
Happy Trading!
CMYK MOVEMENT / FORCE ◊ Introduction
Price Movement / Force
A script that uses Volume and price movement to indicate Bullish/Bearish momentum, like a hindsight MACD.
◊ Origin
This is a part of Project XIAM.
◊ Theoretical Approach
Philosophy γ :: consequential
◊ Usage
Early Indication of Bullish/Bearish momentum, before price reversal.
CLEANSIGNAL can be used as input source, for more reliable results.
Currently BTC◊USD ETH◊USD XRP◊USD Are available in my scripts.
Otherwise the ticker's volume is used as input.
My own indicators will be updated soon, to include source selection in their settings.
◊ Features
BULL / BEAR Phase to open orders. ( HINT : combine with RSI ? )
EXIT sweep : to find appropriate exit moments, to close opened orders.
Sweep is muffled if Phase continues.
Sweep Finalize send final EXIT signal.
◊ Community
Wanna share your findings ? or need help resolving a problem ?
CMYK :: discord.gg
AUTOVIEW :: discordapp.com
TRADINGVIEW UNOFFICIAL :: discord.gg
On Balance Consolidated Volume 1min [BTC] CCI EMA OROn Balance Consolidated Volume var interval
38 Exchanges
