Thanks Chris - For stocks I use a 63-day rate of change - If close > close(63), paint background green.
For most people, if the 50-day moving average is above the 200-day mov avg, paint the background green. Red if the 50<200dma...
IvanLabrie
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How does that RoC thing work Tim? The value it tosses it's different than the price...not getting that part.
timwest
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If the price is above the price 63 bars ago, then draw the background green. If below, red. This is a very simple trend indentifier that I think is useful since it also shows where the stock is relative to where the stock reported earnings last quarter. Since the only 4 "REAL" data points on stocks are the four quarterly earnings reports, it is useful to develop as many indicators around that information, in my opinion.
timwest
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What might be helpful is to change the background to caution "orange" when the price is within 1-ATR(11) of the price 63 bars ago. That way you know the momentum is "flat". In case you want to add another feature.
IvanLabrie
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Amazing! :)
ChrisMoody
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I'll be on it....hey let's touch base tomorrow or Wednesday...we both get busy and days turn in to weeks. Several things to discusss...and I'm serious about volume at Price Intro Course. Powerful Stuff
ChrisMoody
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Tim's Indicator will be released in 1 hour...Will post the Link here
timwest
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I'd also highlight the background green in my personal RgMov indicator has hit a 2-month high, and the background red if the Rgmov indicator has hit a 2-month low.
BizkitBR
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Background color for RSI Indicator with EMA of RSI for Signal
Algokid
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Hi Chris
I have a request I think would benefit TV community. "CNN Fear and Greed Index", I 've been using this indicators with others to determine when to invest and when to get out of the market. Here's the inputs for the index (from CNN):
"Put and Call Options: The put/call ratio, which compares the trading volume of bullish call options relative to the trading volume of bearish put options
•Junk Bond Demand: The spread between yields on investment grade bonds and junk bonds
•Market Volatility: The VIX (VIX), which measures volatility
•Safe Haven Demand: The difference in returns for stocks versus Treasuries
For each indicator, we look at how far they've veered from their average relative to how far they normally veer. We look at each on a scale from 0 - 100. The higher the reading, the greedier investors are being, and 50 is neutral.
Then we put all the indicators together - equally weighted - for a final index reading."
Not sure if the Put/call ratio is available here, perhaps you could leave it out. To give you an idea how this would work, please find below the indicator coded in python , at Quantopian.com. Basically , BUY if over 50 , Sell if below 50. Of course users should be able to change tho criteria.
For most people, if the 50-day moving average is above the 200-day mov avg, paint the background green. Red if the 50<200dma...