US Market Strength Momentum [LG]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 indicating negative momentum.
The indicator also includes a moving average line, calculated over a 200-bar period, which is plotted on top of the histogram. This moving average helps to smooth out the data and provide a clearer picture of the longer-term trend.
In this indicator, the strength of the Russell 2000 compared to S&P 500 is seen as a gauge of market participants' risk tolerance. When Russell outperforms the S&P, market participants are assumed to be taking on greater risk in search of greater beta. When the S&P outperforms Russell, the assumption is that market participants are fleeing to safer assets (in regards to equities indices). The time frame the indicator is viewed on as well as the size of the rate of change delta dictates the strength of the trend.
Trend-strength
RDX Relative Directional IndexRDX 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 the line becomes thinner. Color decides the Direction. This indicator provides sideways detection of RSI signal.
RDX Width: This determines the strength of RSI and Strength of ADX, The strength grows RDX band grows wider, as strength decreases band shrinks and merge into the RSI line. for exact working simply disable RSI plot on the indicator. when there is no strength the RSI vanishes..
Technical:
RSI : with default 14 period
ADX : Default 14 period
RDX=RSI+(ADX-20)/5
Color Code:
Red: Down Direction
Green: Up Direction
Sideways:
A rectangular channel is plotted on RSI 50 Level
Oversold Overbought:
Oversold and Overbought Levels are plotted for normal RSI Oversold and Overbought detection.
Buy/Sell:
Buy sell signals from ADX crossover are plotted and its easy to determine
Strength + Direction + Trend in one go
Hope the community likes this...
Contibute for more ideas and indicators..
One For All - Trend Insight System (Light ver.)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 discretion (see notes below on call markets).
The TIS takes price action, volume and volatility, to :
- provide a clear and easy to interpret global picture on the current trend siuations
- give hints for decent take profit and exit points
- help find support and resistance levels
- assess trend strength and momentum
Disclaimer :
The Trend Insight System (TIS) is among the most perfected trend following indicator. Built around the Verbatim (the main colored line), it is inspired by Tushar S. Chande's work on volatility, that I really enjoyed reworking in-depth and re-engineer from scratch, after some tweaks and managing to factor-in the volumes, the Verbatim was born.
The Verbatim is essentially a "smart" moving average that will adapt itself to the price action, the volatility and the volumes, in order to filter-out whipsaw price action and help the user clarify opportunities for trend trading. Since the various components of the TIS helps serve as Support & Resistance level (see examples below), it will also prove to be helpful for swing traders.
Please use with caution, proper risk management and along with your favorite oscillator, channels, candlestick reading and signals system (such as the Pattern Detection System that will be provided complimentary to the TIS, in a separate script).
Some explanation :
Verbatim line :
- Green shows a bullish trend, orange for consolidation and red for bearish trend
- When it consolidates, it can be extended to the right to be used as a Support & Resistance line
example use case :
In summary :
- A possible entry is when price action confirms over the consolidating (orange) Verbatim, or after the Verbatim turns green. Please note that they both can prove to be false trend start, so these signals are best used with other indicators for confirmation
- A possible exit point show up when the price action starts closing into the Verbatim, or even safer, when the price action confirms under the verbatim, again, to be used with other indicators on the side
Trend Strength and Momentum:
- Read the current status at a glance
- Trend strength is the relative position of each trend lines (most of which are hidden on this "light" version), from -100% (=bear power) to +100% (=bull power)
- Momentum is measuring the slope of the Verbatim (and another hidden "smart" trend line) also from -100% to +100%; trend lines pointing downwards = bears waking up / in force, horizontal = consolidation or upwards = bulls waking up/in force
Important notes :
While is a very powerful yet easy to read Technical Analysis tool, it has been fully optimized for continuous markets such as crypto.
It is highly advised to use the default settings provided as they have been backtested more thoroughly ("continuous market" and "close" input)
To prevent confusing casual users and to avoid overoptimization -risky at best and counter productive at worst, according to legendary traders such as Mark Douglas- this version has most of the customization settings locked out; volume integration, smoothing method used, smoothing constant, volatility setting, period of study. The settings left available are :
- continuous market / call market selection, selecting "continuous maket" will use a specifically designed method of calculation for volatility , based on ATR, while selecting "call market" will automatically use ATR for calculating the volatility , and
- input source selection for the volatility calculation, which only works for "continuous market".
The locked out settings might be included in the future in a more restricted yet complete "Expert mode" version.
End notes :
It will always be considered a work in progress to help bring out the best of trend analysis.
Suggestions are welcomed to make it a more user-friendly tool.
One For All - Trend Insight System v1.0Introduction :
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 (TIS) is among the most perfected trend following indicator. Built around the Verbatim (the main colored line), it is inspired by Tushar S. Chande's work on volatility, that I really enjoyed reworking in-depth and re-engineer from scratch, after some tweaks and managing to factor-in the volumes, the Verbatim was born.
The Verbatim is essentially a "smart" moving average that will adapt itself to the price action, the volatility and the volumes, in order to filter-out whipsaw price action and help the user clarify opportunities for trend trading. Since the various components of the TIS helps serve as Support & Resistance level (see examples below), it will also prove to be helpful for swing traders.
Please use with caution, proper risk management and along with your favorite oscillator, channels, candlestick reading and signals system (such as the Pattern Detection System that will be provided complimentary to the TIS, in a separate script).
Some explanation :
Verbatim line :
- Green is bullish trend, orange for consolidation and red for bearish trend
- When it consolidates, it and be extended to the right to be used as a Support & Resistance line
example use case :
Local consolidation line :
- A more optimal way to find an exit point when we have missed a top formation
example use case :
Verbatim channel :
- A way to visualize price disequilibrium
example use case:
Verbatim cloud:
- Stronger Support and Resistance levels
- Price disequilibrium
- Consolidation range (when Verbatim is inside the cloud and did not go through)
example use case:
Trend Strength and Momentum:
- Read the current status at a glance
- Trend strength is the relative position of each trend lines, from -100% (=bear power) to +100% (=bull power)
- Momentum is measuring their slope also from -100% to +100%; trend lines pointing downwards = bears waking up / in force, horizontal = consolidation or upwards = bulls waking up/in force
Important notes :
While is a very powerful yet easy to read Technical Analysis tool, it has been fully optimized for continuous markets such as crypto.
Each item of the Trend Insigth System can be disabled to suit your personal use. It is highly advised to use the default settings provided.
To prevent confusing casual users and to avoid overoptimization -risky at best and counter productive at worst, according to legendary traders such as Mark Douglas- this version has most of the customization settings locked out; volume integration, smoothing method used, smoothing constant, volatility setting, period of study. The settings left available are :
- continuous market / call market selection, selecting "continuous maket" will use a specifically designed method of calculation for volatility, based on ATR, while selecting "call market" will automatically use ATR for calculating the volatility, and
- input source selection for the volatility calculation, which only works for "continuous market".
The locked out settings might be included in the future in a more restricted yet complete "Expert mode" version.
End notes :
It will always be considered a work in progress to help bring out the best of trend analysis.
Suggestions are welcomed to make it a more user-friendly tool.
Trend Power Index [Fournier-Eaton]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
Note: Parameters may be changed to account for low cycle times and high volatility
As always, please make any suggestions you might have or share problems or successes. Any feedback is helpful.
Composite RSI2/9Composite 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 the same for multiple timeframes.
For example if the average between RSI2 and RSI9 for 1H and 4H is crssed below static sell level (values is adjustable) it could be read as a signal of down trend.
I suggets to use with higher timeframe.
Range StrengthRange 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 identify entry and exit signals within the range, ideally only taking trades when the Range Strength indicator is showing positive (green) readings.
How Is It Different From Other Indicators?
- Designed specifically for the mean reversion (range trading) strategy
- Shows one simple reading and graphical representation of range strength
- Identify the best times to take mean reversion trades versus trend trades
- Works well in conjunction with the Buy Sell Bands indicator to validate entry & exit signals
- Can be applied to all markets and timeframes
How To Use The Indicator?
1) Visit our website URL shown below this description and signup
2) We will then grant your TradingView username permission to use our indicators
3) Go to your Indicators window, then the Invite-Only section and add our indicators to your chart
4) Our indicators will then show on every chart you now look at
5) You can set up alerts to be notified in real time of trading signals from our indicators
6) Read our user manual for all the best tips on how to use our indicators as part of a range trading strategy
7) Feel free to reach out to us for personal one-on-one help with getting setup
What Markets and Conditions Does It Work Best On?
All markets cycle between trending and ranging modes, and the key to successfully using our indicators is identifying when the market is in or about to go into a range trading mode, and as such it can be applied to all markets and timeframes.
Some markets and timeframes trade within ranges more predictably than others, for example Forex, Cryptocurrencies, and Futures on the 15 minute timeframe during the US night session can work well due to the lack of price sensitive news creating lasting trends. With Stocks & ETFs on the 5 minute timeframe during the midday session on large cap blue chip stocks with no recent news releases can show strong range trading environments to use our indicators in.
In addition to single markets, you can also use our indicators on pair charts, for example Coca Cola(KO) versus Pepsi(PEP), you can do this by entering KO/PEP inside your TradingView chart quote box and it will bring up a pair chart. Our indicators will show buy and sell signals right on the pair chart just like any other single instrument chart. You can get very creative with what type of pairs you can come up with.
Our indicators are primarily designed for day trading and swing trading, however they can also be used for position trading and investing by identifying technically oversold and overbought range levels that are based on current and past volatility around a dynamic average price, for this we recommend using a weekly chart to identify longer trading opportunities.
As always indicators should be used as part of a trading strategy to assist in making decisions, you can't just blindly follow every signal they produce, you should always seek to compliment technical trading signals with additional analysis to reduce your risk and increase your odds of making a winning trade.
Examples Of Use On Various Markets and Timeframes
GBP vs CHF Forex Pair 15 Minute Chart
Tesla Stock 1 Minute Chart
Bitcoin vs USD Crypto Pair 15 Minute Chart
Micro E-Mini SP500 Futures 1 Minute Chart
Mastercard vs Visa Stock Daily Pair Chart
To gain access to the Range Strength and Buy Sell Bands Indicators visit our website shown below.
Happy Range Trading :)
Growing or Waning Patterns [Alerts]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.
• BigBar Is Min% Of AvgBar: the minimum percent of average the big bar must be.
• MedBar Is Max% Of BigBar: the maximum percent of big bar the medium bar can be.
• SmlBar Is Max% Of MedBar: the maximum percent of medium bar the small bar can be.
• Repeat Pattern If n Bars: the number of bars to ignore repeat patterns, 1 allows all.
• Trending: on requires the growing or waning patterns to also be trending.
• GrayBars: colors non pattern bodies gray.
NOTICE: This is an example script and not meant to be used as an actual strategy. By using this script or any portion thereof, you acknowledge that you have read and understood that this is for research purposes only and I am not responsible for any financial losses you may incur by using this script!
Easy Profits with TSI Protect V-2So V-2 of this script is ready...
Easy profits is a script for quick on the go setups. Low maintenance is a nice part of this script.
I simply found most scripts to be too technical and this was the motivation for a clear and simple script.
I believe it will work well in any market and not just crypto currency. (only tested on crypto)
Settings are minimal, and very simple.
You can trade this script manually or send signals to your bot.
The idea behind the script is to prevent down-trending trades and get you out quickly if the trade does flip unexpectedly.
So we minimize draw down, but do get in on the good trades quickly.
The script does keep the draw down low and makes it clear if your TSI is set up well enough to avoid noisy and down trending trades.
The style is now very flexible to setup your preferences, for a sleek looking chart.
We no longer use ma crosses for buy and sell signals, this is now automatically controlled by price action. No more intricate settings.
Trend strength is the only setting you need to set to your preference.
There is a companion script to visually see how your TSI settings are changed.
The overlays will also visually show if your alerts and script settings don't match.
How it works:
The background color highlights the whether the tend is strong enough to confirm the buy signal.
Lime means the trade will be taken and blue means the trend was not strong enough and so the buy signal will be rejected.
X_buy - Orange = trade was rejected and not calculated.
Buy- Lime = Trade was taken and calculated.
Script Settings:
Always check that your "Initial capital" matches your "Order size".
Check your base currency. Defaults are setup for Crypto base currencies.
Check your commission percentage.
3 TSI settings:
Long - default is "25"
Short - default is "2"
Signal - default is "10"
Change your date back test range.
I highly recommend keeping a spread sheet with your settings and summary, as your settings when you open a new chart will fall back to the last settings you used on a previous chart or pair.
Once you are happy with your setup check the list of trades to confirm that you like what you see. You can also view the list of trades of this publication above.
Always remember longer time frames are more accurate when back testing and spread matters less.
It's always wise to start with small amounts, test your setup!!!
Make sure you will make money first and then make money, instead of losing your funds before you started.
Alerts:
Simply select Frequency (Option) I recommend "once per bar close".
Select - "Buy" or "Sell"
Enter your exchange - default is "BINANCE"
Enter your Base Pair - default is "BTC"
Enter your pair.
Note- you will get sell alerts on every sell signal, this is left that way to make sure you always get the first sell signal.
TSI- does not impact sell signals.
It did cost money and time to create this script, but we all need to make some money so there is a minimal fee of 0,005BTC.
If you would like two take look, send me a message on tradingview, click follow and I will grant you two days access to the script.
However the alert script will only be available upon payment.
Happy trading.
William
Trend Strength BuddyOne 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 Bancor ( BNTBTC )
If price is making higher highs/lower lows and the oscillator is not, it can signal that the current trend is weakening. Example: see vertical lines
Legend of candle colors
strong uptrend - green
weakening uptrend - olive
weakening downtrend - maroon
strong downtrend - red
Note that the healthiest uptrends will show an oscillator value greater than zero (vice versa for downtrends). Using deflections of the zero-line can help filter our false trend changes.
This Suite of indicators is actively being developed and researched. Please contact me directly for more information.
TRIX ribbon w/ Up/Down colours - squattter
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.
ADX Color Easy [Dravya]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 red zone (0-20)
2. We get ready for trading when it enters the blue zone (20-30)
3. We trade when the ADX enters the green zone (>30)
Simple, right !
Now, in the green zone,
in which direction you should trade?
Here are a few links, to help you use ADX as a strategy ,
www.tradingsetupsreview.com
www.babypips.com
Other than this, you can combine this with your own strategies.
Personally, I like to use it on stocks on 1H timeframe.
Thanks.
Would love to hear from you.
Please like it to support the project,
and help spread it.
