Technimentals S&P Weighted Flow

10 Jun 2022

This script runs a proprietary money flow algorithm three times with different user defined inputs on the subsectors of the S&P, weights their outputs directly according to their weighting in the S&P and then plots the cumulative total of the 33 outputs as a single line which overlays the chart.

The algorithm works by measuring relative volatility on each candlestick compared to the previous candlestick and compares that with it's smoothed recent volatility . This produces a binary (signum) output which is then weighted and accumulated.

The script is designed for use on shorter term timeframes. I do not recommend using this indicator on the daily timeframe or higher unless you lower the timeframe setting inside the script itself. The reason for this is that the signals it provides are often very slow and require zooming the chart out to get enough context to interpret the signals. For example, using this indicator on the one minute timeframe may produce signals several days out, or more!

10 Jun 2022

Nota Keluaran

Fixed decimals