You Jun's Currency Strength Indicator 2Script for calculating the cumulative RSI for 8 popular forex currencies.
Strength
IO_ATR_MAThis is an ATR+MA indicator.. the general idea is:
- when ATR is higher than MA, volatility is high
- when ATR is lower than MA, volatility is low
Absolute Strength MTF IndicatorIntroduction
The non-signal version of the absolute strength indicator from fxcodebase.com requested by ernie76 . This indicator originally from mt4 aim to estimate the bullish/bearish force of the market by using various methods.
The Indicator
Two lines are plotted, a bull line (blue) representing the bullish/buying force and a bear one (red) representing the bearish/selling force, when the bull line is greater than the bear line the market is considered to be strongly bullish, else strongly bearish.
The indicator use various method, Rsi, stochastic, adx. The Rsi method is the one by default.
The stochastic method is less reactive but smoother
The Adx method is way different, while the other two methods make the bull and bear lines somewhat uncorrelated, the adx method focus more on the overall market strength than individual buyer/seller strength.
The smoothing method use 3 different filters, SMA, EMA and LSMA, LSMA is more reactive than the two previous one while EMA is just more computer efficient.
It is possible to use price data of different time frames for the calculation of the indicator.
Stochastic method with 4 hour price close as source.
Conclusion
A classic indicator who can be derived into a lot of ways using a more adaptive architecture or recursion. Hope you find it a use :)
A big thanks to ernie76 for the request and the support/testing of the indicator
Feel free to pm me for any request.
AG Relative Currency Strength IndicatorThis is an indicator that we've been using for a while to pinpoint currencies that are strong/weak. By knowing which currencies are strong and weak, you can focus your attention on the currency pairs that are actually moving, or plan ahead when researching trades.
This indicator gives the Relative Currency Strength, on any timeframe, for every major currency: USD, EUR, GBP, JPY, CHF, CAD, AUD, and NZD.
The indicator includes labels if you need them (you can toggle on/off - default=off), but you will quickly get used to which colour line represents which currency.
You can also choose to show/hide any currency, for isolation or clarity, e.g. only showing USD, EUR and JPY if that's all you're interested in.
Note: due to how much data is being pulled in and processed, this indicator does take a while to load.
IO_Volatility Quality Zero LineThis is the Volatility Quality Zero Line Indicator. This indicator measures volatility strength.
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
Trader Set - Volume SMIThis is the index oscillator of volume's strength (not the momentum), still, because of how it is being calculated, it will be a leading indicator.
The best way of using the volume based oscillators is to have them side by side with volume candle.
Trader Set - Volume Strength MomentumThis is a momentum indicator of the volume's strength index. The "concept" is taken from the RSI although the formulation is not anything close to it !!!
The concept of RSI is that we take the strength of the price and show it as an oscillator, this will show the balance of strength between buyers and seller.
In Volume Strength Momentum, the concept is to find the strength balance between selling and buying volume and calculate the momentum of it. This will become another leading indicator that shows possible critical moments that we can have a shift of strength on volume.
The formula for the strength and momentum calculation is original and not related to rsi in any shape or form.
Absolute Strength HistogramThe Absolute Strength Histogram
Absolute Strength Histogram is composed of two separate signals - Bulls and Bears. Both signals are plotted on the same graph. By doing so we can see the strength of the buyers and sellers in comparison to one another. When the Bulls Signal is above the Bears Signal, the histogram is blue and the market tends to be trending up (go long). When the Bears Signal is above the Bulls Signal, the Histogram turns red and the market tends to be trending down (go short).
There are two methods for calculation, the RSI and the Stochastic, and both have their merits.
There are also several smoothing algorithms added that you can select from the drop-down. Note that higher smoothing will notify you of trend changes later. Lower smoothing will give you quicker signals at the cost of more errors (false signals or noise).
Happy Trading :)
Relative Strength IndexEvery developer must create his own Relative Strength Index with midline and other features).
In addition to the midline, highlighting and levels customization I give you ability to play with non-standard sources like On Balance Volume.
If someone doesn't know what is this:
This indicator was originally developed by J. Welles Wilder and was described in his book "New Concepts in Technical Trading Systems" (1978). It is intended to measure the strength or weakness of an instrument for the specified period.
RSI is a momentum oscillator and can have a reading from 0 to 100. The values of 70 or above indicate that an instrument is becoming overbought or overvalued and may be primed for a trend reversal or corrective pullback in price. The values of 30 or below indicates an oversold or undervalued condition.
The other significant signals are divergences with price and middle line crossovers. RSI if one the most used indicators on the planet.
Enjoy and good luck!
Saracino Bitcoin Relative Momentum IndexThis is a technical indicator developed by Andrea Saracino. It gives buy and sell signals and works best on the daily charts.
This indicator is better suited for Bitcoin. In fact, throughout the history, it gave very consistent buy and sell signals on this asset. Could also be used in other cryptocurrencies.
It consists of two components: the histogram and the dots.
HISTOGRAM
The histogram shows the actual momentum of a given price trend and can be used to check if the trend is strong or if it's getting weaker overtime. When the momentum is to the upside it is green, while it is red if the momentum is to the downside.
DOTS
This is the actual signal part. It consists of a series of dots that become blue if there is a clear signal in either way.
For example: if the momentum is going up and the dots become blue it is a buy signal, or a sell signal if momentum goes down.
DISCLAIMER
This is NOT the Saint Grail indicator. You must not open any trade using just this indicator. Create a strategy instead.
LuauDesign's Bull & Bear Runs Support and ResistanceSupport and Resistance Zones
This automates the way I look at drawing Support and Resistance. Different settings make it catch different moves.
It isn't perfect. It doesn't spot everything it should. But it spots some stuff it should, and can be tweaked with the different settings to see different things.
The zones are short-lived. They bound once, twice at best, and sometimes he bounce is very weak and quickly overtaken.
Hope this is useful to someone.
Fib's GhostThis indicator uses Fibonacci Support/Resistance Channels, weighted with Market Volatility(ATR) to determine Trend Momentum and Strength. It has two components: the Histograms and the strength line:
- The histogram gives information about the momentum behind moves and current trend. If Histogram is positive the market is currently in an UpTrend, the height of the Histograms indicates the amount of
buying/selling pressure of the market, in a strong uptrend the histograms grow with each new candle, and never fall under 0. If the histograms cross 0 a trend reversal is signaled.
- The strength line gives information about the Strength of the current Trend, After the color switch the line should move towards the 0-line, the closest point to the 0 line signals a local Top/Bottom.
- The strength line should be used to find hidden-divergences between price and Strength, the Further away the line is from the center the higher the chances of a reversal, but no trend change is signaled until
histograms cross.
The indicator code can be granted for free upon request
Otseneyer Strenght StrategyThis strategy shows if the market is strong or weak, marking short or long respectively, however this does not represent a direct entry, only a strength or weakness, which applied with some other parameters (candlestick patterns, resistances, etc) can throw us a very good entry, especially in the appropriate temporality, where there is a balance between volatility and the persistence of micro-tendencies.
PRICE ACTION VIGORThis is the first of my RENKO strategies and studies series.
I'm developing some studies on Renko charts from a while and now is time to share the results.
This startegy is based on this idea: to measure the "vigor" or strength of a price action and to follow it.
I use Renko charts to identify the price action.
The indicator will rise or fall when a price action starts and it is flat at half of this movement.
Time frame should be 1 minute but I would need a premium account to have RENKO charts with one minute.
The most important point for this strategy is to set the correct brick size for each symbol.
Look in the result how you could obtain starting with a 1000€ account in just few months.
I have also a study with alerts so one could use autoview for automated trading. If you are interested to use it, follow me and add a comment.
Please use comment section for any feedback.
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I have developed an expert advisor for metatrader4 (MT4) and for jforex platform: results of expert advisor form 2015-01-01 to 2018-11-25 are very good with low drawdown and good profit.
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