cybernetwork

Relative Candle Volatility & Directionality Index

This is an enhanced (closed-source) implementation of the Relative Candle Volatility Index (RCVI), with a Relative Candles Directionality Index (RCDI) added.

  • When the RCVI switch significantly positive, it indicates a sudden increase in volatility ; whereas, when the RCVI switch significantly negative, it indicates a sudden decrease in volatility -- in relative to the (just prior) market trend.
  • A positive (green) RCDI indicates a net positive price trend, while a negative (red) RCDI indicates a net negative price trend.

Buy/Sell strategy circle-markers, derived base on the interaction between the RCVI and the RCDI , are also introduced in this edition.
The parameters should be manually "history-matched", for a particular chart and time-frame, for the best result.

RCVI QUICK GUIDE:

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Note:
In no way is this intended as a financial/investment/trading advice. You are responsible for your own investment decisions and trades.
Please exercise your own judgement for your own trades base on your own risk-aversion level and goals as an investor or a trader. The use of OTHER indicators and analysis in conjunction (tailored to your own style of investing/trading) will help improve confidence of your analysis, for you to determine your own trade decisions.


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Please check out my other indicators sets and series, e.g.
  • LIVIDITIUM (dynamic levels),
  • AEONDRIFT (multi-levels standard deviation bands),
  • FUSIONGAPS (MA based oscillators),
  • MAJESTIC (Momentum/Acceleration/Jerk Oscillators),
  • PRISM (pSAR based oscillator, with RSI /StochRSI as well as Momentum/Acceleration/Jerk indicators),
  • PDF ( parabolic SAR /w HighLow Trends Indicator/Bar-color-marking + Dynamic Fib Retrace and Extension Level)
  • and more to come.
Constructive feedback and suggestions are welcome.

If you like any of my set of indicators, and it has benefited you in some ways, please consider tipping a little to my HRT fund. =D
cybernetwork @ EOS
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~JuniAiko
(=^~^=)v~
Release Notes: Updated input descriptions.
Release Notes: Introduced RCVI- and RCDI-softening factors.
Release Notes: Refactored RCDI Script
Release Notes: Added Alert conditions.
Release Notes: Set Default Confirmation Period to only "1".
Users can adjust this parameter for a particular chart and time-frame to reduce false-positives wrt to historical trend, before proceeding to use to predict next move, etc.
Release Notes: Plot titles are now made more descriptive to make it easier to define Alerts.

Certain conditions base were implemented in my Strategies, which have substantially boosted their profitability, viz.:
  • Increasing trading activities when RCVI is above the upper threshold.
  • Stop all trading activities when RCVI drops below the lower threshold.
  • Reduce score-threshold to register a buy order when RCDI is bullish and above 0.5.
  • Reduce score-threshold to register a sell order when RCDI is bearish and below -0.5.

See also:
AEONDRIFT-K
Release Notes: Shifted Directionality (RCDI) plot down, and also added a Directionality Momentum (RCDM) plot over it.
Release Notes: Updated signal marker colors.
Release Notes: User can now Enable/Disable the offsetting of RCDI and RCDM plots.
Disabling this option will overlay the RCVI with the RCDI and RCDM plots.
Release Notes: Implemented RCD-RSI and RCD-StochRSI (plots can be disabled in the settings).
Release Notes: Directionality-Acceleration/Jerk Oscillators added right below the Directionality and Directionality-Momentum plots.
Release Notes: Allows custom RSI and Stochs source.
Release Notes: Updated presentation of oscillators.
Release Notes: Significant tweaks.
Release Notes: Updated defaults.
Release Notes: Corrected minor bug.
Release Notes: Disabled RSI/Stochs as default.
Release Notes: Introduced RCVI % rescaling.
Release Notes: Introduced RCDI rescaling.
Protected script
This script is published closed-source and you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.
Want to use this script on a chart?
Invite only scripts access info: https://steemit.com/tradingview/@aeondrift/tv-scripts
{PM me in TradingView to arrange subscription access}

Comments

Your work looks amazing! I've only just started on my trading journey, but if i make some money using your indicators, you have my word a donation is coming your way :) Thanks for all you do to help newbies like me
+1 Reply
cybernetwork sgrabowski15
@sgrabowski15, Thank you so much Sgrabowski! :)

I'm making scripts as a hobby, and am myself relatively new to TA and am still learning and figuring things out as I go along too -- trying out and identifying what works and what doesn't.
Starting out with paper trading (or keeping to very small trades, to test the emotional waters), and keeping a trading log is the key to success.
Determining and setting the correct stop-losses is crucial to limit your risk in any trades that you make, I had myself learnt.

Good luck with your trades! :)
Reply
sgrabowski15 cybernetwork
@cybernetwork, Thank you so much for the great advice and help
Reply
cybernetwork sgrabowski15
@sgrabowski15, No problem :) Its always good to share.
These are just some of the important things that I found to be valuable when I just started.

Until I am confident enough, I am sticking to making very small (or paper trades) to accumulate experience first, instead of rushing straight in w/o a solid foundation to stand on. ;)
Reply
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