OPEN-SOURCE SCRIPT
ES to SPX Lead (RTH Adaptive)
Very simple script designed especially to trade CFD but also scalping.
Only RTH (you'll understand why)
Not a stand-alone indicator, e.g., an external event may hit the index and /ES leading nature will become meaningless. Same with a sudden crash on a Mag7 stock.
Uses Z Score to evaluate if /Es is leading SPX (or not) and /ES VWAP to establish bullish (+1) or bearish territory (-1). Histogram is the product of Z Score times VWAP status, red or green depending.
Z score goes from -2 to +2.
Zscore reading: 0.4 < |Z| < 1.2 is the trading zone.
|Z| <0.4 is sort of neutral shifting gears zone, a no-trade and may be transition moment.
Middle numbers show max. limits based on actual volatility (i.e. when to exit and when definitely not to enter a trade).
Grey stripes is NO TRADE zone.
Final number is the composite histogram value.
So:
Textbook bullish: /ES above VWAP and Z Score positive
Textbook negative: /ES below VWAP and Z score negative
If Green Histogram & negative Z Score, you may enter bearish pullback trades making sure Z score is in the sweet spot bracket.
If Red histogram & negative Z score, it's a conflict state, signals are not alined. Holds a bullish nature but it may be a warning sign.
Script produced by Chat GPT after several iterations.
Only RTH (you'll understand why)
Not a stand-alone indicator, e.g., an external event may hit the index and /ES leading nature will become meaningless. Same with a sudden crash on a Mag7 stock.
Uses Z Score to evaluate if /Es is leading SPX (or not) and /ES VWAP to establish bullish (+1) or bearish territory (-1). Histogram is the product of Z Score times VWAP status, red or green depending.
Z score goes from -2 to +2.
Zscore reading: 0.4 < |Z| < 1.2 is the trading zone.
|Z| <0.4 is sort of neutral shifting gears zone, a no-trade and may be transition moment.
Middle numbers show max. limits based on actual volatility (i.e. when to exit and when definitely not to enter a trade).
Grey stripes is NO TRADE zone.
Final number is the composite histogram value.
So:
Textbook bullish: /ES above VWAP and Z Score positive
Textbook negative: /ES below VWAP and Z score negative
If Green Histogram & negative Z Score, you may enter bearish pullback trades making sure Z score is in the sweet spot bracket.
If Red histogram & negative Z score, it's a conflict state, signals are not alined. Holds a bullish nature but it may be a warning sign.
Script produced by Chat GPT after several iterations.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.