Overbalance script tracks trend moves and biggest corrections in those moves. Based on last trend extreme value (low or high) it can draw line symbolizing correction equal to the biggest correction in that trend. It can track up to 20 independent (both up and down) trends on one chart. Overbalance method works on an assumption that trend continues until we...
The Pullback Warning indicator is a simple indicator that highlights the potential for a market pullback, by measuring distances between certain key moving averages. John Pocorobba recently shared in his general market updates, research showing that when the distance between the closing price and the 9 day exponential moving average is greater than the...
Before you see this post I want to thank all the TradingView team. Every day that passes I learn better and better to use Pine script and I owe this to all those who publish and to the philosophy of TradingView. Thanks from Amos This trading indicator compares the prices of the S&P 500 Index (SP500), Tesla (TSLA), and Bitcoin (BTC) to find correlations between...
This extremely helpful indicator allows you to highlight 7 custom date-based timeframes on your charts. The default dates selected are what I consider to be the most significant 7 most recent market declines, including and since the 87 flash crash. Note: The default dates are approximate but good enough to highlight the key timeframes of these...
Wave theory tool for tracking waves relations and their corrections. It filters out a sets of formations and count how often correction from them are reaching characteristic correction levels marked on the chart as CL1, CL2, CL3. It supports 2 rulesets/wave variants: Low - Based on more sensitive trend detection. Medium - Based on less sensitive trend detection. ...
ABOUT Dynamically plots 3 no. forward EUROBOND curves. When the curves converge (or worse crossover) there is higher risk of financial uncertainty and potential market correction. The Eurobond Curves work in a similar way to treasury "yield curve inversion"; except the EUROBOND curves can signal much earlier than Treasuries therefore providing a leading...
Countertrend strategy for correction to the average value. The strategy is designed primarily for crypto. The principle of operation is that with a rapid price change, the strategy tends to take a reverse position to return to the average value, which statistically often happens. It is enough for you to determine the percentage of the offset about the average...
Price Target percent drop is an indicator that allows you to set default percentage down from the 52 week high. A pullback, correction, bear and a bear market is marked as a 5%, 10%, 20% or 40% drop from the 52 week highest price, so this will show the target price to buy at if these thresholds are hit. You can change the default values of 5%, 10%, 20% and 40%...
Here I bring you an array of methods to compare the swings and consistency between assets. This indicator is excellent for swing traders and scalpers looking to maximize their profits by examining which of two closely related pairs provides greater price fluctuation during given period. This indicator works against two assets, which are to be configured in...
The Error Correcting Exponential Moving Average was created by John Ehlers and Ric Way (Stocks & Commodities V. 28:11 (30-35)) and this is an excellent moving average that accurately identifies the trend and sticks with the price during trends or choppy periods pretty well. It looks back to find the best gain setting for each day that returns the smallest...
Powerful tool to calculate and display the strength of a security compared to another security. Some Main purposes are: - finding new leadership in a market correction - comparing a market leader with a top competitor - tracking rotation in the market .. and so much more! This tool is highly configurable, you can especially change: - The reference symbol (SPY,...
This indicator uses the cyclic smoothed Relative Strength Index (cRSI) instead of the traditional Relative Strength Index (RSI). See below for more info on the benefits to the cRSI. My key contributions 1) A Weighted Moving Average (WMA) to track the general trend of the cRSI signal. This is very helpful in determining when the equity switches from bullish...
Spot gaps between bars and benefit from the correction of the market as the price restores its position. Inputs Value In Options input. Defines if the gap between bars will be checked by Points or Percent. Gap Size Float input. Value to trigger a signal if the gap between bars is bigger than. To get access to this and other scripts check links below.
HI BIG PLAYERS AROUND THE WORLD, this script allow to draw automatically lines of Wolfe Wave pattern. Parallel to the automatic drawing, the indicator can give signals as soon as the 5 point of the Wolfe wave is immediately reached or has been reached. This allows the indicator WolfeWaves_ULTRA V2 to give early signals. In the default settings, the signals...
HI BIG PLAYER AROUND THE WORLD, here is my new creation of modified RSI Indikator. In order to the RSIEW Version 1 (look below this text) I build a thermal rainbow chart that shows the spectrum with all overbought and oversell phases. The colour spectrum can be compared with a thermal imaging camera. In one hand, the hottest candles (going into red) show the...
Correlation of two stocks based on the percentile difference. Option to choose 4 different periods.
S Use this script to see the depths of corrections and also to see how long it has been since a correction. I published this script because the last time the SNP has gone this long without a 5% correction was 1996 excluding bear markets of course. NOTE: This script is a 2 in 1. In order to see correction depth only use the first 3 plot settings as...