This is my attempt at remaking the cowen risk index. It's definitely not correct, but should give a rough estimate of where his indicator is at. I am taking the price divided by the 400sma to get an oscillator, then we need to account for diminishing returns so I just made an exponentially increasing variable and mutliplying that by the oscillator value. Then I normalized the data as best as I could. Not sure exactly how to do that so if anyone has any suggestions, please let me know.
This only works on the daily and weekly timeframe. You will need to edit the code if you want to have it work for other timeframes.
Nota Keluaran
⋅
Added some custom bools for normalizing and adjust the exponential factor.
Nota Keluaran
⋅
small adjustments to the default factors
Nota Keluaran
⋅
Figured out how to automatically draw risk levels. No more normalize needed. Simplified the code quite a bit.
I can tell you the reason you aren't solving the problem is because you aren't appropriately controlling for the time decay. And, as a bonus hint, fib levels aren't really going to help.
slimbha30
⋅
the dca index on the bottom with the 2 colors and the dots how did you do it and how can I do the same thing Thank's
You should check out the moonindex by moonstrategy. It's even been more accurate than ben's risk metric.
maildarbid38348
⋅
Just found this now. Thank you so much from providing it and thank you for making it open source. Maybe when I learn this script I can suggest options.
jachcalc
⋅
The best ever and thanks so much, More blessings to you!
stephengordon
⋅
Just found this now very nice work. Excellent coding !
Do you know if this works for alts like LINK and LTC? Any adjustments I should make when running this for alts?
OrionAlgo
⋅
@KevinGuzmanIglesias, Depends on the amount of data you have to work with. LTC should be fairly similar settings to BTC. Try playing with the custom factor amount on the daily timeframe. For crypto with less time in the markets, I would adjust the moving average from 400 to something lower like 200-100, then adjust the factor until you get something that looks good. ALSO turn off Normalize may help. The data can come in weird for other coins and cause spiking which screws up the normalize function. So turning that off will give you the whole data to work with and adjust accordingly.