TASC 2022.05 Relative Strength Exponential Moving Average█ OVERVIEW
TASC's May 2022 edition Traders' Tips includes the "Relative Strength Moving Averages" article authored by Vitali Apirine. This is the code implementing the Relative Strength Exponential Moving Average (RS EMA) indicator introduced in this publication.
█ CONCEPTS
RS EMA is an adaptive trend-following indicator with reduced lag characteristics. By design, this was made possible by harnessing the relative strength of price. It operates in a similar fashion to a traditional EMA, but it has an improved response to price fluctuations. In a trading strategy, RS EMA can be used in conjunction with an EMA of the same length to identify the overall trend (see the preview chart). Alternatively, RS EMAs with different lengths can define turning points and filter price movements.
RS EMA is an adaptive trend-following indicator with reduced lag characteristics. By design, this was made possible by harnessing the relative strength of price. It operates in a similar fashion to a traditional EMA, but it has an improved response to price fluctuations.
█ CALCULATIONS
The following steps are used in the calculation process:
• Calculate the relative strength (RS) of a given length.
• Multiply RS by a chosen coefficient (multiplier) to adapt the EMA filtering the original time series. Calculate the EMA of the resulting time series.
The author recommends RS EMA(10,10,10) as typical settings, where the first parameter is the EMA length, the second parameter is the RS length, and the third parameter is the RS multiplier. Other values may be substituted depending on your trading style and goals.
Relativestrength
The Brain Trust Presets Strategies [BTC / ETH] [PrismBot] [Lite]This strategy contains 9 different timeframe strategies (2 strategy types with pre-adjusted filter options for the different timeframes) tailored to BTC ( Bitcoin ) and ETH ( Ethereum ) on Binance. While I've listed these prebuilt strategies for specific timeframes, they are versatile enough to be checked and tested on other timeframes, and exchanges as well. I have been careful to avoid any curvefitting or overfitting. Included is useful default order settings, but we wanted to ensure you, the user, has control over the order settings for your own equity and trading.
These strategies are created, tailored, tested, and actively used by me.
It is up to you to do your own due diligence when testing these strategies on your exchange, and for your use, and PrismBot bears no responsibility for losses from the use of these strategies.
These strategies employ a variety of methods. Notable inclusions are other live strategies of mine including but not limited to:
ADX + MACD
RSI
Consolidations
Bull Bear Power
Volume Calculations
Open Interest Data
All of these setups include trend trading methods intended to maximize profitability in strong trending markets, and filters deployed to prevent failures in consolidation, though nothing is failproof.
You can control your leverage, quantity calculations, and other order settings. However, all other strategy input parameters are controlled by the strategy selectors.
Some strategies use 1.5 to 1 Risk to Reward ratio while others use 1:1.
How we execute trades for each strategy:
For 10m and 45m
we use a variety of settings for a Normalized MACD and ADX indicator. The thesis is we detect Normalized MACD crossovers at specific values and only allow trading of the strategy when the ADX is above a specific value.
For 15m, 1H, and 45m
we utilize the RSI crossovers of overbought and oversold and use the RSI moving average to filter trades. The thesis is we detect overbought for long and oversold for short.
For each strategy we use additional filters such as Bull Bear Power, Volume Flow, and Open Interest calculations to simply validate a trade.
Automatic Mode
In automatic mode, we detect your timeframe and current coin chart to decide one of the strategies from our database. If you want to manually select a different strategy or try the strategies on different cryptocurrencies, you can disable automatic mode entirely.
OMEP S MTF [JoseMetal]PERFECT LONG EXAMPLE:
imgur.com
PERFECT SHORT EXAMPLE:
imgur.com
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- Description:
This indicator is based in one of my indicators (check my profile to test it), the OMEP S, which is a mix of RSI, MFI and Stochastic in order to take advantage of the best of each indicator and fix their weaknesses.
The purpose of this indicator is to create a multiple time frame oracle with 3 different timeframes, which allows you to see the overall status at a glance and find the perfect trigger for an entry.
- Visual:
Colors are THE SAME as the main indicator (again, the "OMEP S") to prevent confusion.
DOTS: crossover/under of the OMEP with its signal line.
CROSSES: the same, BUT stronger signal because the crossover occurs in the upper/lower area, meaning better entry.
A tag showing the current OMEP value of all timeframes appears at the end (right) of the indicator.
- Usage and recommendations:
For 1H you can set timeframes to 1H, 3H, and 8H, for 4H you can use 4H, 12H and D.
Whenever you get 3 crosses and you get the highlighted color (green/red) matching with the crosses = perfect entry.
Getting (for example) 1H cross, 3H cross but 8h is still different color is usually just a bounce or change of trend, is recommended to trade with the trend.
- Customization:
Everything you can customize in the OMEP S is also here, RSI, MFI and Stochastic periods, relevance in the calculations.
You can customize 3 timeframes to be shown at the same time.
Also, the margin for the tags showing OMEP value.
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- Descripción:
Este indicador está basado en uno de mis indicadores (revisa mi perfil para probarlo), el OMEP S, que es una mezcla de RSI, MFI y Estocástico con el fin de aprovechar lo mejor de cada indicador y mejorar o eliminar sus debilidades.
El propósito de este indicador es crear un oráculo de 3 marcos de tiempo simultáneos, lo que le permite ver el estado general de un vistazo y encontrar el gatillo perfecto para una entrada.
- Visual:
Los colores son LOS MISMOS que los del indicador principal (de nuevo, el "OMEP S") para evitar confusiones.
PUNTOS: cruces del OMEP con su línea de señal.
CRUCE: lo mismo, PERO una señal más fuerte porque el cruce se produce en la zona superior/inferior, lo que significa una mejor entrada.
Al final (a la derecha) del indicador aparece una etiqueta con el valor actual del OMEP en todos los marcos de tiempo.
- Uso y recomendaciones:
Para 1H se recomienda las temporalidades de 1H, 3H y 8H, para 4H se recomienda utilizar 4H, 12H y D.
Siempre que obtenga 3 cruces y obtenga el color destacado (verde/rojo) que coincida con los cruces = entrada perfecta.
Si se suceden 3 cruces sin que ninguna cambie de estado se mostrará el fondo de color, destacando una entrada perfecta.
Obtener (por ejemplo) 1H cruz, 3H cruz pero 8h sigue siendo de color diferente suele ser solo un rebote o cambio de tendencia, se recomienda operar con la tendencia y evitar esos casos o no optar por un take profit muy alejado.
- Personalización:
Todo lo que se puede personalizar en el OMEP S también está aquí, RSI, MFI y periodos estocásticos, relevancia en los cálculos.
Se pueden personalizar 3 marcos de tiempo para que se muestren al mismo tiempo.
También, se puede configurar el margen de las etiquetas en las que se muestra el valor del OMEP para cada temporalidad.
Spot [Moto]Hello traders,
This indicator was primarily designed to show the dominating influence of the underlying spot asset while trading perpetual futures, specifically on Binance.
IMPORTANT: In order for this indicator to work properly/accurately you must be observing a Binance Perpetual future chart. The indicator detects which perpetual future symbol you're observing and changes its comparative metrics accordingly. If you're observing some other chart family, it will either be inaccurate or default to Binance spot BTC vs Binance perp BTC.
In my opinion spot price and metrics are more important to observe than derivatives. If I'm looking for entries or exits I want to know that spot is leading the way, and with evidential conviction. This indicator/signal is designed to be used in context and not to be the sole metrics observed. By comparing the spot chart metrics and the respective spot chart metrics, one is able to ascertain which candles are predominantly 'lead' or dominant via spot price action or conversely derivative lead. Generally, I've found, derivative lead moves have a highly likelihood of reverting
1) Spot engulfing - When spot has exerted control successfully on the current candlestick
This and other plot shapes contain plot shape sizing options and are optionally filtered via the cycled Rsi in the inputs
Smaller plot shapes (auto-sized) show when the candle is spot influenced, but not engulfing.
2) Spot Candle reversals - "E" and "e" plot shapes
These signals are sequential engulfing and opposing candles. "E" being when sequential engulfing candles print, "e" forms when spot candles are sequential, opposing, but not engulfing.
3) HTF Spot engulfing - Same as above but these are on a high time frame reference which have repainting on by default (optional in input).
These will indicate on lower time frame candles if that higher time frame is being spot influences + engulfing. These are hard set to daily, 3 day, and weekly references.
4) Bear / Bull Sequences: "Strong" / "Weak" plot shapes
These signals are looking for a Rsi mid-line (50) 'bounce' among the last four candles on the observed time frame. For example, this will give a signal when the rsi is above, below, below, and back above the 50 on the cycled Rsi.
5) "Prox" plot shapes - "P" and "Prox"
These plot shapes are purely based on Rsi and the confluence between two time frames. Signals occur when the low time frame and high time frame are near the 50 line of their respective Rsi but on opposing sides. There are two sets of these, comprising two different (optional) times frames each. Essentially these signals are to point out potential places of cascade in either direction. If however the market decides to "save" price, action can continue or perhaps violently push in the opposite direction. Consider them warnings to either follow or take advantage of. "P" plots indicate the lower time frame set, while "Prox" indicate the higher time frame signals. These signals can be optionally filtered by Rsi-Vwap directional bias, i.e above or below its "normal" range.
6) Simultaneous Rsi signals - "S"
These signals (optionally shown) print when two Rsi of two different time frame are simultaneously above their 50 mid-line but within a certain distance from the 50, with the candle in the preferred direction, and filtered via Rsi-Vwap. Time frame resolutions can be changes in the settings.
7) Reversion signals (Work in progress) - "R" plot shapes
These signals indicate via a set price difference when candles are of a certain size ($) and are derivative lead. Users can change the dollar change threshold in the settings.
8) Bar-coloring is provided on the more important signals
9) Alerts for almost all of the aforementioned metrics are included
Thanks,
DM for access
Bogdan Ciocoiu - LitigatorDescription
The Litigator is an indicator that encapsulates the value delivered by the Relative Strength Index, Ultimate Oscillator, Stochastic and Money Flow Index algorithms to produce signals enabling users to enter positions in ideal market conditions. The Litigator integrates the value delivered by the above four algorithms into one script.
This indicator is handy when trading continuation/reversal divergence strategies in conjunction with price action.
Uniqueness
The Litigator's uniqueness stands from integrating the above algorithms into the same visual area and leveraging preconfigured parameters suitable for short term scalping (1-5 minutes).
In addition, the Litigator allows configuring the above four algorithms in such a way to coordinate signals by colour-coding or shape thickness to aid the user with identifying any emerging patterns quicker.
Furthermore, Moonshot's uniqueness is also reflected in the way it has standardised the outputs of each algorithm to look and feel the same, and in doing so, enabling users to plug them in/out as needed. This also includes ensuring the ratios of the shapes are similar (applicable to the same scale).
Open-source
The indicator uses the following open-source scripts/algorithms:
www.tradingview.com
www.tradingview.com
www.tradingview.com
www.tradingview.com
Screener for 40+ instrumentsAs you probably know in TradingView there is a limit of 40 instruments in one custom screener.
I created a script that will allow you to scan more symbols.
The idea of it is pretty simple. You have to add a screener a few times on your screen with a different set of symbols. Then select column width (as % of your chart width) and # of the screener right to left.
Script will plot #1 screener next to the right border. For #2 and all next tables, the script will compute the needed offset and will draw it on the left. This way it will look like one table and not a few separate indicators.
I created a script with an RSI screener, but you can create more complicated examples with it.
Off course, that's not a silver bullet solution but might work for some of you.
Disclaimer
Please remember that past performance may not be indicative of future results.
Due to various factors, including changing market conditions, the strategy may no longer perform as well as in historical backtesting.
This post and the script don’t provide any financial advice.
Volatility Adapted Relative StrengthVARS uses a stock's ALPHA in comparison to the SPX to determine whether there is RS on an volatility adjusted basis.
Multiple Relative Strength (Multiple RS) (XP)Multiple Relative Strength (Multiple RS) (XP)
You can see three Relative Strength lines.
The lines are thicker going from RS1 to RS2 to RS3, for differentiation.
Using the three RS, you can see long, medium, and short term performance at once.
Crypto Relative StrengthCompare the percentage change of 8 most popular cryptocurrencies with BTC in last 5 periods, and mark out the best and worst performing cryptocurrency.
Relative StrengthRelative strength is a calculation of the price trend of a stock or a financial instrument in comparison to another instrument, stock, or industry. It shall be determined by taking the price of one commodity and dividing it by another.
Relative strength is a strategy used for determining value stocks and is used in momentum investing as well. It involves investing in stocks that have done well, in relation to their index or benchmark. For example, a relative strength investor might pick technology companies that have outperformed the Nasdaq Composite Index or large-cap stocks that are lagging against the S&P 500 index(Adjustable in the settings).
This indiator will give you a plot for relative strength between the current pair with another pair (adjustable in the settings), with a plotshape for RSNHBP & RSNH
Features :
1. Relative Strength
2. Double EMA of Relative Strength
3. RSNHBP & RSNH
How to use it :
1. Adjust All the settings parameter
2. For Alerting, Just use any alert function call, it will give you an alert of RSNHBP and RSNH
ETF Trends//@Devendra Akolkar - @dakolkar - This indicator will compare and show relative performance of 3 symbols.
// It'll compare those 3 symbols on 3 different Timeframe (Weekly - 5 sessions , BiWeekly - 10 sessions and Monthly - 20 sessions) and display performance in %
Relative Strength Volatility Adjusted Ema [CC]The Relative Strength Volatility Adjusted Exponential Moving Average was created by Vitali Apirine (Stocks and Commodities Mar 2022) and this is his final indicator of his recent Relative Strength series. I published both of the previous indicators, Relative Strength Volume Adjusted Exponential Moving Average and Relative Strength Exponential Moving Average
This indicator is particularly unique because it uses the Volatility Index (VIX) symbol as the default to determine volatility and uses this in place of the current stock's price into a typical relative strength calculation. As you can see in the chart, it follows the price much closer than the other two indicators and so of course this means that this indicator is best for choppy markets and the other two are better for trending markets. I would of course recommend to experiment with this one and see what works best for you.
I have included strong buy and sell signals in addition to normal ones so strong signals are darker in color and normal signals are lighter in color. Buy when the line turns green and sell when it turns red.
Let me know if there are any other indicators or scripts you would like to see me publish!
TASC 2022.03 Relative Strength Volatility-Adjusted EMA█ OVERVIEW
TASC's March 2022 edition of Traders' Tips includes the "Relative Strength Moving Averages - Part 3: The Relative Strength Volatility-Adjusted Exponential Moving Average" article authored by Vitali Apirine. This is the code that implements the "RS VolatAdj EMA" from the article.
█ CONCEPTS
In a three-part article series, Vitaly Apirine examines ways to filter price movements and define turning points by applying the Relative Strength concept to exponential moving averages . The resulting indicator is more responsive and is intended to account for the relative strength of volatility .
█ CALCULATIONS
The calculation process uses the following steps:
Select an appropriate volatility index (in our case it is VIX ).
Calculate up day volatility (UV) smoothed by a 10-day EMA.
Calculate down day volatility (DV) smoothed by a 10-day EMA.
Take the absolute value of the difference between UV and DV and divide by the sum of UV and DV. This is the Volatility Strength we need.
Calculate a MLTP constant - the weighting multiplier for an exponential moving average.
Combine Volatility Strength and MLTP to create an exponential moving average on current price data.
Join TradingView!
Linear Regression Relative Strength[image/x/iZvwDWEY/
Relative Strength indicator comparing the current symbol to SPY (or any other benchmark). It may help to pick the right assets to complement the portfolio build around core ETFs such as SPY.
The general idea is to show if the current symbol outperforms or underperforms the benchmark (SPY by default) when bought some certain time ago. Relative performance is displayed as percent and is calculated for three different time ranges - short (1 mo by default), mid (1 quarter), and long (half a year). To smooth the volatility, the script uses linear regression to estimate the trend and takes the start and the end points of the linear regression line to compute the relative strength.
It is important to remember that the script shows the gain relative to SPY (or other selected benchmark), not the asset's gain. Therefore, it may indicate that the asset is profitable, but it still may lose value if SPY is in downtrend.
Therefore, it is crucial to check other indicators before making a decision. In the example above, standard linear regression for one quarter is used to indicate the direction of the trend.
Relative Strength Volume Adjusted Exponential Moving Avg [CC]The Relative Strength Volume Adjusted Exponential Moving Average was created by Vitali Apirine (Stocks and Commodities Feb 2022 pgs 14-18) and this is very similar of course to the last Relative Strength Exponential Moving Average . It works under the same concept with using overbought and oversold methods to adjust the moving average and with this particular version you will notice that sudden drops or increases won't follow super closely so this can be useful along with the other as a good complementary indicator to use with each other to determine the short and medium term trend and to give good entry and exit points. I have strong buy and sell signals in addition to normal ones so darker colors are strong and lighter colors are normal. Buy when the indicator line turns green and sell when it turns red.
Let me know if there are any other indicators or scripts you would like to see me publish!
Relative Strength Exponential Moving Average [CC]The Relative Strength Exponential Moving Average was created by Vitali Apirine (Stocks and Commodities Jan 2022 pgs 22-25) and this is a handy moving average that combines a typical overbought/oversold mechanic with an overall trend indicator. Even though the typical length is so large it reacts extremely quickly when the stock becomes overbought or oversold. Because of this the indicator by itself doesn't work as well during choppy periods so Vitali recommends using a moving average crossover system during choppy so do one indicator with the default length of 50 and use a different length of 10 so when the shorter length crosses over the longer length then buy and vice versa you would sell. Generally speaking buy when the line turns green and sell when it turns red. I have used strong buy and sell signals in addition to normal signals so strong signals are darker in color and normal signals are lighter in color.
Let me know if there are any other scripts or indicators you would like me to publish!
Currency StrengthThis script measures the strength of the 6 major currencies USD, EUR, GBP, CAD, AUD and JPY.
Simply, it averages the RSI values of a currency vs the 5 other currencies in the basket, and displays each average RSI value in a table with color coding to quickly identify the strongest and weakest currencies over the past 14 bars (or user defined length).
The Dir. value looks at the difference in average RSI value between current and X bars back (user defined), telling you whether the combined RSI value has gone up or down in the last X bars.
Using the average RSI allows us to get a sense of the currency strength vs an equally weighted basket of the other majors, as opposed to using Indexes which are heavily weighted to 1 or 2 currencies.
The table doesn't load super fast as we are making 15 Security requests to get the values for each pair (where possible we reverse the values of the pair to reduce Security requests, e.g. we don't need to request EURUSD and USDEUR, we reverse the value to calculate the USD RSI).
TurtleQuants : Relative StrengthThis is the customer indicator built by "TurtleQuants" based on the relative strength against the broader index. This indicator is built purely based on technicals and price action, does not include any fundamentals of the company / script.
This works the best on Weekly Time, while can also be used on Daily Time. This is not designed for hourly or Intraday trading.
How it works : It calculates the short term and long relative strength as against the broader index along with other technical indication, which can further be customized (Ex: we kept RSI length as 21 weeks default, however this can be changed based on individual preference or set-up)
How to use: This indicator triggers
buy signal when the indicator turns "GREEN" .....
sell signal when the indicator turns "Red"
If the color of the indicator is BLUE, then previous position status continues....meaning, earlier signal was Green and now changed to Blue, then its hold....and if earlier signal was Red and then changed to Blue, then watchlist, triggers a new buy only when it turns Green from BLUE .
The script (TCS), that was show is just for illustration but not recommendation.
Relative Strength Moving Average CrossoverA popular technical analysis strategy is the moving average crossover. This indicator combines a crossover with the Relative Strength Line, created by William O’Neil. The RS Line is a tool used to compare the price action of a particular stock to that of an index, with the S&P 500 being the index preferred by O'Neil.
When one moving average crosses above or below another, that may be a signal of a trend change. For example, when a shorter-term moving average (aka faster moving average) of price moves up and through a longer-term moving average (aka slower moving average), it is likely the price is trending up, this is referred to as a crossover. The opposite can also be a potential signal of a change in the trend. When a shorter-term moving average crosses under a longer-term moving average, the price may be heading down. We refer to this as a negative crossover or crossunder.
This indicator allows configuration of up to two moving averages for the RS Line. Using two moving averages you can quickly identify the direction of the trend and also pinpoint where the faster moving average crosses over or under the slower moving average.
While beta testing this indicator, we performed a study using Bitcoin. In 2021 we’ve seen an increasing correlation of BTC and the S&P 500. This is most likely due to the fact that both crypto and stocks are riskier than other financial assets such as bonds and commodities. When the market is risk-off, both the S&P 500 and Bitcoin tend to sell off together.
For the BTC test case we used two moving averages of the RS Line, 8-EMA and 50-SMA. In the chart that follows you can see a breakdown of how this played out over the last ~2 years. A positive divergence is indicated by the 8-EMA of RS crossing above the 50-SMA, and vice versa for a negative divergence.
Here's another example using TSLA:
Features
■ Configure up to two moving averages for each timeframe.
■ Optional symbols indicate moving average crossovers.
■ Configure custom alerts on crossovers, for any timeframe.
■ Optional moving average cloud makes it easy to identify if slower moving average is above/below faster moving average.
■ Configurable index, defaulting to S&P 500 (SPX).
Acknowledgement
This project is a collaborative effort with @blakedavis17 a Crypto-Equity Analyst. Based on a discussion with Blake about a moving average crossover using the RS Line, we created a simple indicator to explore the concept further. We were very encouraged with the results of backtesting and decided to publish the indicator as we believe it may be a helpful tool for both equity and crypto traders.
Relative Strength vs SPY - real time & multi TF analysisOne of the most requested features for TradingView is the ability to include custom indicators in the stock market scanner. While I am sure this feature is coming soon (seriously TV, PLEASE) I decided to use the amazing template provided by QuantNomad (), but I wanted to allow the user to modify the table a bit better so that a multi time frame analysis approach could be used.
The recommended way to use this indicator is to apply it three times to your chart. For each instance, assign it a plotting location (left, center, right) and choose the timeframe you wish to use for the RS analysis. By default, the relative strength of all 39 pre selected stocks will be compared against SPY, on the 5 min timeframe. I personally like having this chart on the left, then the 4 hour timeframe in the center, and the daily on the right. Not only does this setup allow you to see the relative strength/weakness of 39 stocks in real time (the one on the left), but you have all the information in front of you including how the stock has been performing relative to SPY on the 4H and D charts.
To make it easiest to read, you should disable all visual elements to the chart you are applying this indicator to. By minimizing the chart and putting it by your side, you can see the bigger picture on how all your stocks are behaving relative to the market.
If you wish to change any of the stocks I have pre selected, make sure to save your chart template. Otherwise you would need to do this every time you load the indicator to your chart which would be incredibly time consuming.
The M Score - Ultimate v5.0The M Score - Ultimate v5.0
*Introducing M score version 5.0*
Additions to the indicator:
1. 200 EMA Band (High-Low) added
2. Bottom left table - Shows All Time High/Lows (52 weeks) and % away we are from both. The values will not change in this table even if you change the timeframe.
3. Bottom center table - Performance matrix and a quick glance comparison with Nifty with different days of return. This will show if there outperformance or underperformance in the scripts and in which duration.
4. Top Right table - This indicator plots a table off to the right of the chart to help with determining timeframe continuity. A great edge is only taking trades where full timeframe continuity is in place (i.e. if you are going long, make sure other timeframes are also green).
Green candles have green colored boxes, red candles have red colored boxes.
Inside bars are represented by a circle - ⬤
Outside bars are represented by a tall rectangle - ▮
2-up bars are indicated by an up arrow - ▲
2-down bars are indicated by a down arrow - ▼
User defined options:
Pick any timeframe for the 4 boxes
Hope you will will like the efforts.
RSI Performance - TradingEDThis case study is based on a previous RSI study, but with three different counts to compare different trends. The use of this indicator is restricted to private use, and it can be used only by invitation. Different functionalities have been added to the original code, such as alerts and signals that seek to make trading much easier to interpret by any type of trading operator of any experience level, from beginner to intermediate and advanced .
Key components of the original indicator:
● The Relative Strength Index ( RSI ) is a popular momentum oscillator developed in 1978.
● The RSI provides technical traders signals about bullish and bearish price momentum, and it is often plotted beneath the graph of an asset's price.
● An asset is usually considered overbought when the RSI is above 70% and oversold when it is below 30%.
It is a momentum indicator used in technical analysis that measures the magnitude of recent price changes to assess overbought or oversold conditions in the price of an asset. The RSI is displayed as an oscillator (a line chart moving between two extremes) and can read from 0 to 100. Overbought does not necessarily mean that the price will reverse lower, just as oversold does not mean that the price will reverse higher. Rather, the overbought and oversold conditions simply alert traders that the RSI is near the extremes of its recent readings.
Main functions of this modified indicator:
1) The SOURCE for the counts can be determined by the trader (close, open, etc).
2) You can select the type of MOVING AVERAGE, among many available options ( SMA , EMA , DEMA , HMA , etc.)
3) The MEASURE can be based on a CANDLES count if you are trading OHLC Charts from 1D onwards, or if your trading is intraday, you can also select counts by MINUTES, HOURS or DAYS, depending on your trading style.
4) LENGTH, by default it will be loaded as in the STRATEGY, but considering the previous point, you can modify it according to your convenience.
5) You have the option to hide or show a LABEL at the top of the chart, with respect to the signals: BULLISH green, BEARISH red.
Main performance functions of this modified indicator:
I) In the case of the PERFORMANCE that appears at the right of the chart, you have the option to adjust the WIDTH of each box.
II) The TEXT of the PERFORMANCE is not modifiable, but you can customize the default color. *
III) The BACKGROUND of the PERFORMANCE, you can customize the default color. *
IV) You have the option to hide or show a PERFORMANCE that appears at the right of the chart.
Main functions to customize the style of this indicator:
a) You can select the color for the ADJUSTED LEVEL and for the MOVING AVERAGE, with the colors that best suit you.
b) The CROSSOVER/CROSSUNDER signal between the MOVING AVERAGE and the ADJUSTED LEVEL can also be customized. *
c) For any type of SIGNAL, it is painted as a VERTICAL LINE in the graph, you can change the color that comes by default. *
d) In the case of the LABEL that appear at the top, the text is not modifiable, but you can customize both the type of label and change the default color. *
e) You can select the color for OVERVALUED and for UNDERVALUED levels, with the colors that best suit you.
f) You can select the colors for the BACKGROUND of the indicator according to the trend, whether it is BEARISH or BULLISH, with the colors that best suit you. *
* By default, they are marked as red for downtrends and green for uptrends.
RVI Relative Volume IntradayRVI Relative Volume Intraday is a simple label next to the last bar that shows the relative volume as a percentage of the ratio of today's volume to the average volume for the same intraday time period of the last five days. Useful for break-out intraday strategies.
