VolumeVsVSMAComparisonVolume vs the volume sma .
Blue is low volume , green is normal, yellow is high, and red is very high.
Top bar is 100sma, middle is 25sma, and bottom is 5 sma .
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Crude Roll Trade SimulatorEDIT : The screen cap was unintended with the script publication. The yellow arrow is pointing to a different indicator I wrote. The "Roll Sim" indicator is shown below that one. Yes I could do a different screen cap, but then I'd have to rewrite this and frankly I don't have time. END EDIT
If you have ever wanted to visualize the contango / backwardation pressure of a roll trade, this script will help you approximate it.
I am writing this description in haste so go with me on my rough explanations.
A "roll trade" is one involving futures that are continually rolled over into future months. Popular roll trade instruments are USO (oil futures) and UVXY (volatility futures).
Roll trades suffer hits from contango but get rewarded in periods of backwardation. Use this script to track the contango / backwardation pressure on what you are trading.
That involves identifying and providing both the underlying indexes and derivatives for both the front and back month of the roll trade. What does that mean? Well the defaults simulate (crudely) the UVXY roll trade: The folks at Proshares buy futures that expire 60 days away and then sell those 30 days later as short term futures (again, this is a crude description - see the prospectus) and we simulate that by providing the Roll Sim indicator the symbols VIX and VXV along with VIXY and VIXM. We also provide the days between the purchase and sale of the rolled futures contract (in sessions, which is 22 days by my reckoning).
The script performs ema smoothing and plots both the index lines (VIX and VXV as solid lines in our case) and the derivatives (VIXY and VIXM as dotted lines in our case) with the line graphs offset by the number of sessions between the buy and sell. The gap you see represents the contango / backwardation the derivative roll trades are experiencing and gives you an idea how much movement has to happen for that gap to widen, contract or even invert. The background gets painted red in periods of backwardation (when the longer term futures cost less than when sold as short term futures).
Fortunately indexes are calibrated to the same underlying factors, so their values relative to each other are meaningful (ie VXV of 18 and VIX of 15 are based on the same calculation on premiums for S&P500 symbols, with VXV being normally higher for time value). That means the indexes graph well without and adjustments needed. Unfortunately derivatives suffer contango / backwardation at different rates so the value of VIXY vs VIXM isn't really meaningful (VIXY may take a reverse split one year while VIXM doesn't) ... what is meaningful is their relative change in value day to day. So I have included a "front month multiplier" which can be used to get the front month line "moved up or down" on the screen so it can be compared to the back month.
As a practical matter, I have come to hide the lines for the derivatives (like VIXY and VIXM) and just focus on the gap changes between the indexes which gives me an idea of what is going on in the market and what contango/backwardation pressure is likely to exist next week.
Hope it is useful to you.
Outsidebar vs Insidebar, Illusion Strategy (by ChartArt)WARNING: This strategy does not work! Please don't trade with this strategy
I'm sharing this strategy for the following three educational reasons:
1. You can easily find 100% strategies, but if they only seem to work 100% on one asset, they actually don't work at all. Therefore never backtest your strategy only on one asset, especially forward testing is useless, because it tends to repeat the old patterns. Your strategy has to work on as many different assets as possible.
2. The pyramiding of orders can have an impact on the strategy. In this case if you manually change the strategy settings by increasing it from 1 to 100 pyramiding orders changes the percent profitable on "UKOIL" monthly from 100% to 90% profitable. On other assets you can see very different results. Allowing much more pyramiding orders in this case results in opening orders where the background color highlights appear.
3. The Tradingview backtest beta version currently does not close the last open trade during the backtest. In this case going long on "UKOIL" near the top in 2011 as this strategy did would result in a big loss in 2015. But since the trade is still open and not canceled out by a new short order it still appears as if this strategy works 100% profitable. Which it doesn't.
Price vs VolImproved version of OBV/price (this one actually works)
Both lines show where price is going relative to volume metrics (one line uses OBV, the other uses accumulation/distribution).
Green and above 50 means price is rising faster then buying volume
Red and below 50 means price is falling faster then selling volume
you can add smoothing in the controls and color will go according to raw (even if smoothing goes above/below 50)
under the hood: changes price, OBV and AD to RSI for comparability, calculates the difference between price and the others, then an RSI on the result to create an <50< style indicator.
this script replaces the previouse from:
Madrid VectorThis study is used to detect Overbought/Oversold levels, reversal patterns, momentum divergence based on the ratio of the current level vs the trading range on a given period of time. It reduces the lag by using direct price levels instead of moving averages, and the results are smoothed using the supersmooth Ehler's filter.
This study utilizes simple parameters, the length of the analysis period and check boxes to display only the bull vector, the bear vector, or both of them.
When the vector crosses over the zero line, the stock is in the bull side, if it reaches levels above 80% it enters to the Overbought area, which means the price can go higher until a reversal takes it below the Zero Line to the Bear side, where if it reaches -80% it is said to be at the Oversold level until a reversal or a momentum divergence pattern flags a return to the Bull side.
Momentum of Relative strength to Index Leaf_West styleMomentum of Relative Strength to index as used by Leaf_West. This is to be used with the companion Relative Strength to Index indicator Leaf_West Style. Make sure you use the same index for comparison. If you follow his methods be aware of the different moving averages for the different time periods. From Leaf_West: "on my weekly and monthly R/S charts, I include a 13 EMA of the R/S (brown dash line) and an 8 SMA of the 13 EMA (pink solid line). The indicator on the bottom of the weekly/monthly charts is an 8 period momentum indicator of the R/S line. The red horizontal line is drawn at the zero line.
For daily or 130-minute time periods (or shorter), my R/S charts are slightly different - the moving averages of the R/S line include a 20EMA (brown dash line), a 50 EMA (blue dash line) and an 8 SMA of the20 EMA (pink solid line). The momentum indicator is also slightly different from the weekly/monthly charts – here I use a 12 period calculation (vs 8 SMA period for the weekly/monthly charts)." Leaf's methods do evolve and so watch for any changes to the preferred MAs etc..
Relative strength to Index set up as per Leaf_WestRelative Strength to index as used by Leaf_West. If you follow his methods be aware of the different moving averages for the different time periods. From Leaf_West: "on my weekly and monthly R/S charts, I include a 13 EMA of the R/S (brown dash line) and an 8 SMA of the 13 EMA (pink solid line). The indicator on the bottom of the weekly/monthly charts is an 8 period momentum indicator of the R/S line. The red horizontal line is drawn at the zero line.
For daily or 130-minute time periods (or shorter), my R/S charts are slightly different - the moving averages of the R/S line include a 20EMA (brown dash line), a 50 EMA (blue dash line) and an 8 SMA of the20 EMA (pink solid line). The momentum indicator is also slightly different from the weekly/monthly charts – here I use a 12 period calculation (vs 8 SMA period for the weekly/monthly charts)." Leaf's methods do evolve and so watch for any changes to the preferred MAs etc..
Pair StrengthA pair strength indicator of EUR GBP USD Vs JPY and as an oscillator i used the TSI indicator
it is based on the article "May the Strength be with You"
"How to apply this info to our trading strategy?
I suggest at least two approaches:
1) filtering trades of your current strategy depending on the strength of currencies involved. As an example, if your system gives a buy signal on EURUSD, but we know that EUR has a much lower strength than USD, then this trade should be probably filtered out.
2) building an entire automatic strategy based on the strength concept itself. As an example, a strategy that constantly monitors the 6 pairs EURUSD, EURGBP, EURJPY, GBPJPY, GBPUSD, USDJPY and enters a trade only on 1 pair at a time when a huge spread among strengths is detected (buy EURUSD if EUR is the strongest currency and USD is the weakest one in our analysis)."
www.pimpmyea.com
Elder Ray Composite DOA hybrid representation of Elder Ray's Bear/Bull as an oscillator, using TEMA and LRC calculations to average out the signals. The Oscillation is based off of the Derivative oscillator. This gives an interesting interpretation of Bear vs Bull power. Give it a try!
[Bitcoin] Spot price vs Futures indicatorA handy script to detect opportunities in the futures market during extreme movement.
During rallies, futures usually tend to be US$10 above spot price, on the other hand it can be $1 below spot price when the price starts to decline.
You could also draw a trendline to it :) measuring the amount of risk people are willing to take just to predict future prices in the rally/decline.
Credits to lowstrife for the idea, I'm just implementing it :)
WMA Short term bandsThese are WMA bands, that measure 100 period atr vs a 56 period moving average to give you the normal trading range.
Dotted lines are good for stops and take profit levels.
CM_Blast_Off_V1_Alerts ReadyBlast Off Indicator - Alert Ready!!!
Created By Request from @elpuerto936c
Description of Indicator:
***This measures the day's open / close vs then high lows of the day (range)
***When the open /close is less than 20% of the range, then it's likely that the following day will have a big jump.
***The Thought Process is Simply When (Open - Close) is Less Than 20% Of The Range…Shows Indecision and Breakout is Probable.
***Which way? Use whatever indicator you want to figure out if the market is oversold or overbought.
***NOTE: If Indicator Triggers After Extended Up or Down Move…This = High Probability Reversal.
In Inputs Tab:
-Ability to Change The Trigger Value…(This is Percent The (Open-Close) is to the Total RANGE of The Bar).
-Ability to Turn On/Off Highlight Bars via Check Box.
To Set Alert:
-In First Drop Down Box Select Name of Indicator
-In Drop Down to Right Select “Alert Blast Off If Below Trigger”.
-Then Select “Greater Than”.
-Then Select “Value”
-To the Right of Value type in .99
-Select On Bar Close, If not you will get FALSE Alerts.
Indicator: Kairi Relative Index (KRI)KRI is a leading indicator, just like RSI. More info: www.etoro.com
I have noticed KRI producing less false-divergences compared to RSI (in my limited BTC backtesting).
Give it a try / backtest on your instrument. Appreciate a note here on what you think.
