The Cointegration strategy is to short the outperforming instrument and go long on the underperforming instrument whenever the temporary correlation weakens which means one instrument going up and another going down. Here, instead of two different instruments two timeframes of the same instrument are used, lower and higher.
See the original: This is indeed a cute idea of the author, but some times this wonderful indicator raises false flags. In order to see what is going on, put the code into indicator section of the chart. My solution is to add variance line (in lime color) and use variance as a filter.
This script shows three CCIs in one frame, three different frames (20,140,3360) on the same chart. Purely for for visual purposes values multiplied with e. CCI is using simple moving average and mean deviation, a basic versatile momentum oscillator-indicator. Useful for 2h charts.
I had seen something like this on metatrader but not here. Since I use TradingView and not metatrader had some fun with this. Indicates up or down for 4 chosen time Frames and as such helps to see the historical trend. Works best on daily or shorter charts because of load time. User can choose the length of the two exponential moving averages used on each time...
LazyBear's WaveTrend port has been praised for highlighting trend reversals with precision and punctuality (minimal lag). But strong "3rd Wave" trends can "embed" or saturate any oscillator flashing several premature crosses while stuck overbought/oversold. This happens when the trend stretches over a longer timescale than the oscillator's averaging window or...