Get started

Technicals

(FireflyTA) Algo Score MTFAlgo Score MTF The Algo Score MTF is a meta-analytic oscillator telling you about the technical market strength . It is analyzing a variety of different indicators and metrics to come up with a score that gives you an impression on whether the medium timeframes have fuel to go higher or if it's running out and the risk increases to see corrective price action. ---------------------- About Technical Market Strength Algo measures the technical strength with a score between -10 and 10 . A bullish or bearish technical market strength shows a high correlation with bullish or bearish PA soon after the score reaches the significant levels deviating from 0. However, optimal treshold values (meaning the score after which the strength can be considered bullish or bearish) vary depending on the market looked at. For BTCUSD, the default values used can be seen as reference. If you want to apply Algo to other markets, you will have to calibrate the tresholds yourself. It is important to know that market strength is the fuel to drive price higher or lower, but it is not the trigger. The trend is of superior importance. So when price is in a strong uptrend (in this case on the MTF), and the score reaches a value of -4 or lower (which can be considered bearish), it can still take a while for the trend to shift because of the strong momentum. The score in this case can be used as an indicator to show you times when it is wise to take profits / de-risk or take extra care in your risk management in general. ---------------------- Indicators used All the indicators mentioned are calculated separately and weighted by the significance value you can customize in the indicator UI. It is also possible to (1) deactivate certain indicators and (2) force them as required, so that a signal in the oscillator only occurs when the indicator(s) that is/are required support the thesis (bullish vs. bearish). Daily VWAP MTF Trend Traditional Bollinger Bands RSI MTF RSI Divergence Stoch RSI Ichimoku Cloud Fib Retracement Levels MACD TTM Squeeze Moneyflow Custom Levels you can define (3 categories: Major, medium, minor) For some indicators, there are specific settings to customize how they contribute to the overall score (i.e. MACD cross vs. shift vs. trending phase). It is also important to know that Algo fetches the indicator data from multiple timeframes, thereby adding reliability to the overall results. ---------------------- Algo Custom Logic Algo is using my custom logic on when a certain indicator can be interpreted as bullish or bearish in the MTF horizon. If you want to find out about the reliability of certain indicators, I recommend disabling all the indicators except for the one you want to examine, and then see how the score reacts to price action. ---------------------- Timeframes Due to script limitations, this version can only analyze the medium timeframes . It is best used with charts 2H+, it works on some 90m as well but ceases to work at 1H and below . It is also not compatible with higher timeframes . Upon using the same settings on the same ticker with different timeframes, you will see that the score shows a minor variance. This is because data is consolidated to match the timeframe, so it ultimately leads to minor differences. Find out for yourself what timeframe is the best to use with which market and which settings. ---------------------- How to Use I'm going to add tooltips for the settings in the indicator UI with upcoming updates, so it becomes more clear on how to set Algo up properly. To prevent a loss of your customized settings, write them down somewhere in case a script update reverts the settings back to default. You can find in-depth tutorials on how to use this indicator by browsing the links and resources in my signature.
Pine Script™ indicator
by FireflyTA
Trade Archer - Moving Averages - v1.4FTrade Archer Moving Averages has been updated! Description: Moving averages are one of the cornerstones to technical analysts tool box. There are several different kinds of moving averages of which the most common can be selected. Up to four moving averages may be configured and displayed with the option to show clouds between them. Additionally I have added a trend identification system that analyzes the slopes of the moving averages instead of relying on moving average cross overs for long/short signals. Features: - Multiple Moving Average Choices including: SMA, EMA, DEMA, TEMA, RMA, HMA, WMA, and VWMA. - Four fully customizable MAs including length, color, and/or optional clouds between the MAs. - Three ways to display MA trends: bar color, background and/or colored shapes. Notes: The default settings for the MA lengths are: 9, 19, 50, 200. MAs default to EMAs if none are selected. If you use a blend of MAs, like SMA and EMA, you can apply the indicator again to the same chart and enable/disable the ones you want visible, their type, and trend display. If you have any questions or need help configuring, feel free to contact me. Good luck Trade Archer tradearcher@gmail.com www.tradearcher.com @tradearcher
Pine Script™ indicator
by tradearcher
21