This indicator is designed to analyze the relative strength momentum of two US market indices, the Russell 2000 and S&P 500, by calculating their rate of change over a 21-bar period and comparing them. The difference between the average rate of change for IWM and SPY is then plotted as a histogram, with green bars indicating positive momentum and red bars...
RDX Relative Directional Index, Strength + Direction + Trend. This indicator is the combination of RSI and DMI or ADX. RDX aims at providing Relative direction of the price along with strength of the trend. This acts as both RSI and Average Directional Index. as the strength grows the RSI line becomes wider and when there is high volatility and market fluctuation...
Introduction : Compared to the TIS v1.0, this "light" version is simpler to use and to understand, hence it will suits the basic needs of traders and investors looking for a clear and user friendly indicator to assess the current trend situation for continuous markets. The settings allow an adaptation for call markets, but more backtesting needed at your...
Introduction : The TIS takes price action, volume and volatility, to : - provite a clear and easy to interpret global picture on the current trend siuations - give hints for good take profit and exit points (see local consolidation line) - help find support and resistance levels - assess trend strength and momentum Disclaimer : The Trend Insight System...
Trend Power Index measures the power of a given trend relative to its past strength. Increasing values indicate strengthening of an upward trend or weakening of a downward trend Decreasing values indicate strengthening of a downward trend or weakening of an upward trend. Crossing zero is a confirmation of trend initiation in the respective direction ...
Composite RSI is a new way of calculating the RSI. Unlike the RSI that is a sort of a momentum indicator, composite RSI2/9 is more a trending indicator. It tends to filter out insignificant price changes and seems to be good in identifying the underlying trends. This indicator shows the average RSI between two periods (default values are 2 and 9) considering...
Range Strength is a super simple indicator designed for the mean reversion (range trading) strategy, it shows you how strong the market is ranging or trending. When the indicator is positive (green color) the market is a range mode, when the indicator is negative (red color) it is in a trending mode. It's best used together with our Buy Sell Bands indicator to...
Example how to color patterns of 3 bodies growing or waning by percentage with or without trend. Also included option for alert triggers. The yellow triangles on the chart denote where the alert triggers will fire. • Choose Pattern Of Filter: shows bodies growing or waning or both. • Sample Lengths Of AvgBar: number of recent bars to use for average size. •...
One of the indicators in the "Trend Buddy" suite. This indicator plots the oscillator at the bottom of the chart and colors the candles according to trend strength. The oscillator can be used to identify divergence in several ways If price is moving one way and the oscillator another, it can mean that the trend is gearing up to change. Example: above, in...
Follow the momentum - 2/4/8hr or Daily, take your pick. Use 2 or more TFs together for greater chance of a winning trade. Also brilliant for spotting divergence. This one is my favorite indicator.
Script #1 So, here is my first script. This is the normal 14 period ADX, but with a color twist, to make it extremely easy on eyes. and then, easily spot the strength. ADX, as you know, shows the strength of the trend. As short term traders, we need price movement and a strong trend. How to use this script ? 1. We don't trade when ADX is in the ...