This script creates a Decimal and Binary representation of the price using ROC. The idea is to simplify the price action into a distance from Zero to upside and downside.
You can see clearly trend develops in the ROC in the decimal view, kind of like MACD but based on raw price action change. I'm' a big fan of raw price action, so my scripts are super simple.
You can also use this script in a binary mode close higher = 1 and lower is -1. I use the binary mode to remove the psychological pressure of watching the stock going against me. I turn off the actual price and only focus on number of reds vs blue. On a Quantum physics level, when I short, I observe /wish for more reds like last night 1% sell-off
The main message form all my scripts is think outside the box, experiment with something crazy that doesn't make sense at first and make it to make sense. I always start with an idea that pops into my head, script with Pine script super simple and then watch it for hours to see what is trying to tell me. I have many work in progress that still doesn't make sense but looks really weird and wonderful. When I figure out what is trying to tell me I publish it
All talented Pine Scripters, you will find many new concepts in my simple scripts. I don't write complicated codes and leaves the bells and whistle part out deliberately so the core concept can shine. Build on it, add the bells and whistles, take it to a new level. I'm a trader and the current ALGO driven market has skewed many traditional good old indicators. reason is ALGO knows about the established trend reversal indicators and plays a trick to rub honest traders like us. We need to work together to bit the ALGO. I use price action because ALGO cant hide it. You all done amazing thing to improve existing indicators, but it pays if you spend time creating brand new one ALGO doesn't know. Looking forward to see who can take it to the new level. My talent is coming up with new concepts, so I will churn more and hope others can lend their talent to take these scripts to new level or create brand new concepts. We are in this together.
cowboycraig
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Would be ravishing if you did a YouTube explaining how this script works and maybe some examples in different candle times.
stockmarketupdate
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@cowboycraig, I released the simple version of my scripts to see if others are interested in new ideas. The response has shown there is not enough interest. In some occasional others used my concept without mentioning where they have the idea. So I decided not to release any new ones.
What a genial indicator! Thanks for sharing. Keep on the out of the box thinking.
stockmarketupdate
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@pmasse, Thanks. The market has changed. ALGO is programmed to to counter the traditional indicators. I know it. So everything that used to work doesnt anymore because of dirty ALGO tricks.
We need to reinvent ourselves, our trading methods and unite against ALGO. You can tell I don't like ALGO, I don't like this fixed market, I don't Like Fed messing with valuation. So, I'm putting up a fight and my brain in overdrive till I crack it 100%
abinash7
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thank you so much for your unique script,,,,,,,,,,,,,
stockmarketupdate
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@abinash7, Thanks for your feedback. When an idea pops into my head I script it and at first it doesn't make sense but gradually the initial idea turns into something interesting. I was Short on SPX and market was going against me and I didnt want to watch price going up. So I thought what If I just watch up and down movements and count the reds. This was last Friday and SPX went down and I made profit. I think there is another layer to this script that I yet to discover.