Hot off the press, I present this NEW "Reflex Oscillator" employing PSv4.0, originally formulated by Dr. John Ehlers for TASC - February 2020 Traders Tips. John Ehlers might describe it's novel characteristics as being a reversal sensitive near zero-lag averaging indicator retaining the CYCLE component. Also, I would add that irregardless of the sampling interval,...
When using "Harmonic Patterns", always look at the bigger picture, please do not depend solely on the "Pattern".
Use other indicators,... to confirm what you think is going on!
That said, it is quite useful!
Beside my "The Gartley", now, OPEN SOURCE, we have "Harmonic Patterns" in 2 parts (otherwise many lines are gone because the script is too large)
This is "Harmonic Patterns", part 2 Open Source
(in 2 parts, otherwise many lines are gone because the script is too large):
- Bat (+ Alt)
A "Pattern" is created by checking 5...
another day, another method for detecting support and resistance level. This time it's all about the VWAP and daily gaps it might produce.
How does it work?
The indicator detects when a new daily candle begins and the VWAP makes a big move in either direction. Often it produces a gap and this is where the support or resistance level will be plotted....
A simplified down basic Average Daily Range
My own custom indicator uses several other features such as ATR etc to determine best entry but this is a simple Average Daily Range designed to demonstrate how banks and other industry professionals would fill orders.
This is based on my own time working within the industry.
If you imagine we are in an upwards trend...
Hot off the press, I present this NEW "TrendFlex Oscillator" employing PSv4.0, originally formulated by Dr. John Ehlers for TASC - February 2020 Traders Tips. John Ehlers might describe it's novel characteristics as being a reversal sensitive near zero-lag averaging indicator retaining the TREND component. Also, I would add that irregardless of the sampling...
This indicator colors volume bars that are significantly higher volume than the vol moving average ( SMA ). Utilizes two multiplier that can be adjusted by user. Defaults are that the indicator colors volume bars yellow if 20% higher than average, and orange if over 50% higher than average.
Reason why i created this indicator is i typically don't care about...
I use a few things very frequently:
Multiple moving averages
OHLC on various timeframes
This allows you to use both, and toggle several settings.
You can enable multiple moving averages (up to 4) and use SMA, EMA, or ALMA styles and choose from which timeframe they show (this can be useful but also choppy).
You can enable OHLC info for daily, weekly, or...
The Hull moving average (HMA) developed by Alan Hull is one of the many moving averages that aim to reduce lag while providing effective smoothing. The HMA make use of 3 linearly weighted (WMA) moving averages, with respective periods p/2, p and √p, this involve three convolutions, which affect computation time, a more efficient version exist under...
This is the strategy version of "expected range STUDY". The buy and sell signals are generated with the study version, but what is displayed on the chart is different. Here, the PnL of each trade is shown on the chart, as well as the peak profit point of each trade up till the present. Black areas represent take profit and waiting for the next trade to start....
GAP DETECTOR is an indicator displaying price gaps that have never been completely filled (only gaps >= 5 pips are considered).
Each gap is defined by two lines (the lower and upper bound of the gap), and a label giving information on its price range
length: the number of candles being considered in the indicator (max is 3000).
width: the width of...
This script (idea) is intended for intraday use--Specifically 5 min bars/candles.
It essentially tells you the support if a stock is bullish or the resistance if a stock is bearish.
If you buy or sell around/in the cloud, you are ensured to be getting (around)VWAP price.
This is not too innovative, but I look at cloud setups with single and doubled settings, using both the traditional inputs for legacy markets, and "24/7" formatted inputs initially established by my friend CarpeNoctom and popularized for crypto markets. This makes those inputs a toggle that's easy to adjust. That's about it. Otherwise, it's the classic Ichimoku...
The Range Expansion Index ( REI ) oscillator is based on Tom Demark's studies and described in "DeMark on Day Trading Options" book.
Range Expansion Index is an oscillator which compares current intraday highs and lows with the high and low of two bars ago.
The indicator oscillates between +100 and - 100, Default overbought and oversold conditions are 45/-45...
The adaptive price zone (APZ) is a volatility-based technical indicator that helps investors
identify possible market turning points, which can be especially useful in a sideways-moving
market. It was created by technical analyst Lee Leibfarth in the article “Identify the
Turning Point: Trading With An Adaptive Price Zone,” which appeared in the September...