deimosaffair

Cooltoyz: market shaker v1.0

Panicking over a big ass candle? wondering what's happening on a flat market? Despair no more, this indicator could help with that :)

The market Shaker calculates the price differences, and weights them with the volume used for the move. This volume is not the plain value, but a measure of the past X volume candles.

Examples:
price moves 3%, but with a volume of only ~80% of last candles. looks like weak move
price moves 0.4%, but the volume was a massive 220% bigger than last candles. something happened, even if the market absorbed it all, better pay attention.

in each case, the shaker indicator makes the calculated value bigger/smaller to account for the volume weight of the move.

It's also i real time, the current candle weight is considered on how much time it remains to close. Example, on the 1H chart, if the last candle is 45min to close, the values for the volume are weighted to 25%, since is only 15min "old", while all the other candles are 1h, so the candle is only 25% of it's time to close.

The indicator options has the arguments required to tune the indicator, the candles minutes must match the chart, or the results go crazy.

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plz explain the colors
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Cooltoyz indeed sir!
Very interesting, do you margin trade?
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Great work, this is an interesting idea with some great coding.
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Does this indicator work for the think or swim platform from td ameritrade. Thank you Lacher
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@lacher27, i have no idea what that platform is :)
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ok, for anyone that asked:
this cooltoyz does one thing: it mixes the price volatility with the volume volatility to show the strength of a movement. kinda ;)
the idea is that, as examples, a spike in price on low volume, should not be very important. a phat finger, a thin order book, something like that. one candle does not make the chart ;)
also, a small change in price with a huge volume should be important, so the indicator magnifies the price change in this case.

both price AND volume are important for charting, this indicator is a tool to make it easy on the eye to check both at same time.
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