Correlation Coefficient: Visible Range Dynamic Average R -Correlation Coefficient with Dynamic Average R (shows R average for the visible chart only, changes as you zoom in or out)
-Label: Vis-Avg-R = Visable Average R
-the Correlation Coefficient function for Pearson's R is taken from "BA🐷 CC" indicator by @balipour (highly recommended; more thorough treatment of R and other stats, but without the dynamic average)
-I wrote this primarily to add a dynamic Average R, showing correlation for arbitrary start times/end times; whether it be the last month, last year, of some specific period from the past (backtest mode)
-I have been using this to get an idea of correlation regimes over time between Bonds vs Stocks (ZB1! vs ES1!).
-As you see from the above, most of 2022 has seen an unusually strong positive correlation between Bonds and Stocks
~~inputs:
-lookback length for calculation of R
-Backtest mode (true by default): displays Average R for ONLY the visible range displayed on any part of chart history (LHS to RHS of screen only)
-source for both Ticker and compared Asset (close, open, high, low, ohlc4.. etc)
~~some other assets worth comparing:
Aussie vs Gold; Aussie vs ES; Btc vs ES; Copper vs ES
Cari dalam skrip untuk "GOLD"
Multi-Polar WorldA new macro analysis tool for easily analyzing the multi-polar world's economic powerhouses / spheres of influence, making for an easy to use visual when comparing a number of statistics:
GDP, GDP per Capita, External Debt, Government Debt, Exports, Imports, Gold Reserves, Employed Persons, Military Expenditure, Population, Bank Lending Rate, Balance of Trade, Central Bank Balance Sheet, M2 Money Supply, and CPI . Includes option to provide the total for each pole, or view individually for more detailed comparison. Meant to be used when analyzing the macro-economic conditions/trends in conjunction with other "Big Picture" type indicators when adjusting your macro framework.
[blackcat] L3 Bull ChannelLevel 3
Background
This is a bullish channel with spikes for long entries. Optimized for 4H time frame.
Function
This indicator places a fast and smooth lines into a channel for 4H time frame. The channel can work as overbought and oversould threshold for judgement. Also, the fast and smooth (green , red lines) will cross together and you can judge short term momentum with their cross status as golden cross or dead cross status.
For the color definitions:
Output upper_rail = 21-day moving average of the highest price*1.05, draw upper_rail
Output lower_rail = 21-day moving average of the lowest price*0.95, painted yellow
Output smooth_trend = 5-day moving average of the lowest price, painted red
Output fast_trend = 2-day moving average of the closing price, painted green
Output swing_long = If fast_trend wears smooth_trend, return upper_rail*1.05, otherwise return smooth_trend, draw red
Output leader_long = If fast_trend wears upper_rail, return upper_rail*1.10, otherwise return lower_rail, draw orange
Remarks
Feedbacks are appreciated.
[blackcat] L3 Bull Bear GameLevel 3
Background
A bull bear banker fund game trajectories.
Function
This technical indicator draws a track diagram of the long-short power comparison through a custom trend line. The red curve represents the long line, and the green curve represents the short line. When the red line crosses the green line, it means that the upward momentum is sufficient, the whale is controlling the market, and the rise is imminent, which is a buy signal. When the red line enters the strong zone, it means that the whale is in control of the stock, and the stock is about to enter the stage of pulling up. On the contrary, if the green line turns upwards, it means that the whale is washing or retreating, and we must quickly reduce or clear the position. Sometimes when the indicator sends out a long entry signal, because the whale still has to go through a round of washing, I introduced a golden pit inflection point filter scheme, which can filter out these signals, so only when the signals appear at the same time is a long entry point signal.
Remarks
Feedbacks are appreciated.
ILM CFTC COT Legacy PlotUse this indicator on Daily Timeframe
Please refer to the below link for CFTC Disaggregated COT
www.cftc.gov
This script is very similar to COT Financial Plot indicator except that it plots the data for Futures in Legacy buckets Commercial vs. Non-Commercial
[blackcat] L1 Beauty ShoulderLevel 1
Background
A classic candle pattern : beauty shoulder.
Function
Beauty shoulder, as the name suggests, is that the trend of the candle chart is like a beauty shoulder. The most important feature of the beauty shoulder pattern is that after it reaches the shoulder, it does not wash the market through the downward trend of the stock price, but only by slowing down the rising speed to achieve washing out float chips.Therefore, the shape of the beauty shoulder is not rising from beginning to end, but the acceleration of the rise has changed.
Morphological characteristics:
1. Beauty shoulder is a candlestick pattern. It is usually the trace left by the main force opening up positions. This pattern is encountered by dozens every year, and you will always find it if you look for it carefully.
2. The technical characteristics of the beauty shoulder, the 5-day moving average and the 10-day moving average must continue to form a golden fork.
3. The trend in the first half of the candle chart must present an arch, and only in this way can it be called a beauty shoulder.
4. The candle chart must be above the 60-day moving average. It is best to hang it in the air, or a stronger shoulder of the beauty. The candle chart is above the 30-day moving average, so the magnitude of the pull up will become larger.
5. The bottom of the shoulder of the beauty is the part of the consolidation, and the volume must be increased, because the shoulder of the beauty is the result of the main force building a strong position in a short time, so the volume must be increased.
6. The rise of the shoulders of the beauty is very scary, and the increase is usually more than 30%.
Remarks
Feedbacks are appreciated.
Strategy Myth-Busting #8 - TrendSurfers+TrendOsc - [MYN]This is part of a new series we are calling "Strategy Myth-Busting" where we take open public manual trading strategies and automate them. The goal is to not only validate the authenticity of the claims but to provide an automated version for traders who wish to trade autonomously.
Our 8th one is an automated version of the " 653% Gain Magical 1 Minute Scalping Strategy Tested 100 Times | Become Consistently Huge Profit " strategy from " Fxaccurate US " who claims to have achieved 653% profit scalping GOLD on the 5 minute timeframe. As you can see from the backtest results below, I was unable to substantiate anything close to that that claim on any timeframe or symbol. Myth 10000% busted.
If you know of or have a strategy you want to see myth-busted or just have an idea for one, please feel free to message me.
This strategy uses a combination of 2 open-source public indicators:
Trend Surfers - Premium Breakout + Alerts by TrendSurfersSignals
Mawreez' Trend Oscillator Indicator by Mawreez
Trading Rules:
1 min - 15 min candles
Stop loss middle between high and low Risk 1:2
Long Condition
Trend Surfers Trailing stop line goes below (Crosses) lowest low
Bullish Candle (red)
Mawreeze Trend Oscilator Indicator is green
Short Condition
Trend Surfers Trailing stop line goes above (Crosses) highest high
Bearish Candle (red)
Mawreeze Trend Oscilator Indicator is red
MTF Stoch RSI + Realtime DivergencesMulti-timeframe Stochastic RSI + Realtime Divergences + Alerts + Pivot lookback periods.
This version of the Stochastic RSI adds the following additional features to the stock UO by Tradingview:
- Optional 3 x Multiple-timeframe overbought and oversold signals, indicating where 3 selected timeframes are all overbought (>80) or all oversold (<20) at the same time, with alert option.
- Optional divergence lines drawn directly onto the oscillator in realtime, with alert options.
- Configurable lookback periods to fine tune the divergences drawn in order to suit different trading styles and timeframes, including the ability to enable automatic adjustment of pivot period per chart timeframe.
- Alternate timeframe feature allows you to configure the oscillator to use data from a different timeframe than the chart it is loaded on.
- Indications where the Stoch RSI is crossing down from above the overbought threshold (<80) and crossing above the oversold threshold (>20) levels on a given user selected timeframe, by printing gold dots on the indicator.
- Also includes standard configurable Stoch RSI options, including k length, d length, RSI length, Stochastic length, and source type (close, hl2, etc)
While this version of the Stochastic RSI has the ability to draw divergences in realtime along with related settings and alerts so you can be notified as divergences occur without spending all day watching the charts, the main purpose of this indicator was to provide the triple multiple-timeframe overbought and oversold confluence signals and alerts, in an attempt to add more confluence, weight and reliability to the single timeframe overbought and oversold states, commonly used for trade entry confluence. It's primary purpose is intended for scalping on lower timeframes, typically between 1-15 minutes. The triple timeframe overbought can often indicate near term reversals to the downside, with the triple timeframe oversold often indicating neartime reversals to the upside. The default timeframes for this confluence are set to check the 1 minute, 5 minute, and 15 minute timeframes, ideal for scalping the < 15 minute charts.
The Stochastic RSI
The popular oscillator has been described as follows:
“The Stochastic RSI is an indicator used in technical analysis that ranges between zero and one (or zero and 100 on some charting platforms) and is created by applying the Stochastic oscillator formula to a set of relative strength index (RSI) values rather than to standard price data. Using RSI values within the Stochastic formula gives traders an idea of whether the current RSI value is overbought or oversold. The Stochastic RSI oscillator was developed to take advantage of both momentum indicators in order to create a more sensitive indicator that is attuned to a specific security's historical performance rather than a generalized analysis of price change.”
How do traders use overbought and oversold levels in their trading?
The oversold level, that is when the Stochastic RSI is above the 80 level is typically interpreted as being 'overbought', and below the 20 level is typically considered 'oversold'. Traders will often use the Stochastic RSI at an overbought level as a confluence for entry into a short position, and the Stochastic RSI at an oversold level as a confluence for an entry into a long position. These levels do not mean that price will necessarily reverse at those levels in a reliable way, however. This is why this version of the Stoch RSI employs the triple timeframe overbought and oversold confluence, in an attempt to add a more confluence and reliability to this usage of the Stoch RSI.
What are divergences?
Divergence is when the price of an asset is moving in the opposite direction of a technical indicator, such as an oscillator, or is moving contrary to other data. Divergence warns that the current price trend may be weakening, and in some cases may lead to the price changing direction.
There are 4 main types of divergence, which are split into 2 categories;
regular divergences and hidden divergences. Regular divergences indicate possible trend reversals, and hidden divergences indicate possible trend continuation.
Regular bullish divergence: An indication of a potential trend reversal, from the current downtrend, to an uptrend.
Regular bearish divergence: An indication of a potential trend reversal, from the current uptrend, to a downtrend.
Hidden bullish divergence: An indication of a potential uptrend continuation.
Hidden bearish divergence: An indication of a potential downtrend continuation.
Setting alerts.
With this indicator you can set alerts to notify you when any/all of the above types of divergences occur, on any chart timeframe you choose, and also when the triple timeframe overbought and oversold confluences occur.
Configurable pivot lookback values.
You can adjust the default pivot lookback values to suit your prefered trading style and timeframe. If you like to trade a shorter time frame, lowering the default lookback values will make the divergences drawn more sensitive to short term price action. By default, this indicator has enabled the automatic adjustment of the pivot periods for 4 configurable timeframes, in a bid to optimise the divergences drawn when the indicator is loaded onto any of the 4 timeframes. These timeframes and the auto adjusted pivot periods on each of them can also be reconfigured within the settings menu.
How do traders use divergences in their trading?
A divergence is considered a leading indicator in technical analysis , meaning it has the ability to indicate a potential price move in the short term future.
Hidden bullish and hidden bearish divergences, which indicate a potential continuation of the current trend are sometimes considered a good place for traders to begin, since trend continuation occurs more frequently than reversals, or trend changes.
When trading regular bullish divergences and regular bearish divergences, which are indications of a trend reversal, the probability of it doing so may increase when these occur at a strong support or resistance level . A common mistake new traders make is to get into a regular divergence trade too early, assuming it will immediately reverse, but these can continue to form for some time before the trend eventually changes, by using forms of support or resistance as an added confluence, such as when price reaches a moving average, the success rate when trading these patterns may increase.
Typically, traders will manually draw lines across the swing highs and swing lows of both the price chart and the oscillator to see whether they appear to present a divergence, this indicator will draw them for you, quickly and clearly, and can notify you when they occur.
Disclaimer: This script includes code from the stock UO by Tradingview as well as the Divergence for Many Indicators v4 by LonesomeTheBlue.
Financial VolumeFinancial Volume is the quantity of a certain asset traded mutiplied by its price. In other others, it's the amount of money traded for that particular asset.
TradingView uses the "quantity" volume as standard (for a good reason) and actually there is no "right" volume but the quantity volume alone might give the wrong idea.
In the shown example the stock crashed from 20's to below 2 brl. Since it got cheaper, it became easier to trade it and the quantity volume increased. But the amount of of money traded actually decreased, indicating less interest from the market.
Also back in the stock's golden age, the quantity volume stayed flat but the amount of money was actually increasing indicating the market was more interested in that stock.
ATR Trailing Stop Loss [V5]A complete ATR Trailing Stop Loss in version 5.
Features Include:
Timeframe Option
Long/Short Triggers (Green/Red Triangles)
Long/Short Conditions (Bottom Colored Line)
"Golden" Long/Short Triggers (Yellow Triangles)(Hanging Man or Shooting Star Candlestick patterns breaking ATR trailing stop)
Alerts
[blackcat] L1 Relative Strength Volume-Adjusted EMALevel 1
Background
Vitali Apirine proposed an idea of “Relative Strength Moving Averages, Part 2 (RS VA EMA)” on October 2022.
Function
Based on my understanding, Vitali combines the merits of RSI, volume and EMA to improve moving average performance. It takes the relative volume strength into account and includes a measurement between positive and negative volume flow in the calculation, which gives direction to the volume input. In details, volume is considered positive when the close is higher than the previous close and negative when the close is lower than the previous close. I used 2 period lagged signal as trigger so that the pair fast and slow lines can form golden cross and dead cross where entry signal can be produced.
Remarks
Feedbacks are appreciated.
Tickers Info ExtensionWith the indicator you can easily evaluate or compare any ticker with the one you choose in the options.
You can choose any of the tickers I provide in the mod options to your liking :
XAU
DXY
BTC
ETH
SPX
NASDAQ
AVG Stable Dominance
AVG Stock Price
Custom
You can also select or create your own ticker if you select the Custom in Mode option.
If the Compare mode is enabled, then the current ticker you are viewing is divided by the ticker selected in the indicator (in the Mode option).
Thus, you create a new pair and can evaluate the strength of this or that asset.
For example, if you have the ticker BTCUSDT open. And the ticker XAU is selected in the Mode option in the indicator. And the Compare mode is also enabled. Then you will get a new BTCUSDT/XAU pair. That means that now you can see the bitcoin/gold ratio. (Same as EUR/USD etc.)
If the Compare option is switched off then you will see the usual ticker you choose in the Mode option. You can also see if there is a correlation between the selected pairs.
Option ' AVG STABLE.D ' = Calculated as: USDT.D + USDC.D + DAI.D
- This is the average domination of the most important Stable Coins
Option ' AVG STOCK Price ' = Calculated as: (DJI + SPX + NDQ) / 3
- This is the average price of the most important Indexes.
Strategy Myth-Busting #3 - BB_BUY+SuperTrend - [MYN]This is part of a new series we are calling "Strategy Myth-Busting" where we take open public manual trading strategies and automate them. The goal is to not only validate the authenticity of the claims but to provide an automated version for traders who wish to trade autonomously.
Our third one we are automating is one of the strategies from "The Best 3 Buy And Sell Indicators on Tradingview + Confirmation Indicators ( The Golden Ones ))" from "Online Trading Signals (Scalping Channel)". No formal backtesting was done by them so wanted to validate their claims.
If you know of or have a strategy you want to see myth-busted or just have an idea for one, please feel free to message me.
This strategy uses a combination of 2 open-source public indicators:
BB_Buy and Sell by guikroth (default settings)
SuperTrend from TradingView's Technicals (default settings)
Trading Rules
15 min candles
Long
Long condition when BB_BUY indicates buy signal and SuperTrend is green
Short
Short condition when BB_BUY indicates Sell signal and SuperTrend is red
High low volatile
its purpose to make this script is learning how many spread on each product.
its help trader and me to estimate spread of High and low for make a better trade
Money management :
Its also useful to help trader to manage number of lot to take a risk on that trade
How it work?
I use High and low to calculate the different between on them
and I add an EMA 10 and EMA 200 to estimate spread of each product in many bar
On second picture , I use it on GOLD 1H timeframe . You can see that Gold in hour trade on my country time (thailand) It has more spread on 19.00-23.00 pm (in US time is 7.00-11.00)
It help trader to set time when to trade and when to leave
thank you
SUPRESHi Dears!
I hope that you enjoyed my "FLEX KDJ IND" till today!
Here, I want to publish one of my other golden indicators for you!
Contents:
+ SUPRES
+ SUPERTREND
+ T.O Line
- SUPRES (SUPPORT/RESISTANCE) is sensitive to trading volumes and with "BACHWARD" you can adjust the length of previous indices in investigation and "MEMORY" is an argument for calling maximum lines that have to be kept for "SUPPORT" and "RESIST".
- SUPERTREND is the normal prepared indicator which is defined in "TRADING VIEW"
-T.O is my suggestion instead of "EMA" to check the phase of session.
I hope that you enjoy this Indicator, please do not forgot to "Warm-It-UP"!
Happy trading,
Shakib
KAIRI RELATIVE INDEXAn old but gold Japanese indicator for Mean Reverting strategies and ideal for Pairs Trading...
The Kairi Relative Index measures the distance between closing prices and a Moving Average in percent value (generally SMA).
Extreme reading in the KRI are considered buy and sell signals.
Extreme readings will vary by asset, with more volatile assets reaching much higher and lower extremes that more sedate assets.
The KRI is not an accurate timing signal, and therefore, should be combined with other forms of analysis to generate trade signals.
You can calculate percent difference between the price and 10 different types of Moving Averages in this version of KAIRI as:
SMA : Simple Moving Average
EMA : Exponential Moving Average
WMA : Weighted Moving Average
TMA : Triangular Moving Average
VAR : Variable Index Dynamic Moving Average a.k.a. VIDYA
WWMA : Welles Wilder's Moving Average
ZLEMA : Zero Lag Exponential Moving Average
TSF : True Strength Force
HULL : Hull Moving Average
VWMA: Volume Veighted Moving Average
Personal advice: try using bigger length of Moving Averages like 50-100-200 for pairs and mean reversion strategies
2 MA Ratio Can Help with Moving AveragesMany technical analysts use moving average crosses to assess trend changes. A faster-moving MA crossing above a slower-moving line may be viewed as a bullish signal. The opposite can apply to the downside.
While these methods may help analyze price direction, they can often force traders to wait until the cross occurs. Sometimes it may be useful to anticipate the event – or at least know it’s getting close.
That’s where the custom script 2 MA Ratio can be useful because it tracks the fast and slow moving averages. The fast MA is then shown as a percent of the slow MA. Positive readings indicate a bullish condition and vice versa for the negative.
It’s also color-coded to clearly illustrate when the crosses occur.
2 MA Ratio can handle simple moving averages (SMAs) and exponential moving averages (EMAs). It even lets you compare SMAs to EMAs. Users can choose between using open, high, low or closing prices as the inputs. (It defaults to Close.)
The chart above shows the short-term pair of the 8- and 21-day EMAs on Tesla (TSLA). The second chart below shows the same stock with the slower 50- and 200-day SMAs. Notice the “Golden Cross” last summer and the “Death Cross” in May:
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Pro Trading Art - Insider Entry with alertThis indicator is based on volume and ma. This will help you to detect higher volume on chart. You can create alert to stay updated. I am using Fibonacci golden ratio to multiply the current volume. My logic is if volume comes greater than factor of Fibonacci number and current volume then consider it as a insider entry.
Ultimate RSI With Some Spices★彡 𝓤𝓵𝓽𝓲𝓶𝓪𝓽𝓮 𝓡𝓢𝓘 𝓦𝓲𝓽𝓱 𝓢𝓸𝓶𝓮 𝓢𝓹𝓲𝓬𝓮𝓼 彡★
* Hi everybody here's the ★彡 𝓤𝓵𝓽𝓲𝓶𝓪𝓽𝓮 𝓡𝓢𝓘 𝓦𝓲𝓽𝓱 𝓢𝓸𝓶𝓮 𝓢𝓹𝓲𝓬𝓮𝓼 彡★ indicator and how to use it :
彡彡彡彡彡彡彡彡彡彡彡彡彡彡彡彡彡彡彡彡彡彡彡彡彡彡彡彡彡
First we have that red : green {RSI EMA Line}line in the indicator which show the current symbol situation \
𝐒𝐢𝐦𝐩𝐥𝐲 : 𝐢𝐟 𝐭𝐡𝐞 𝐥𝐢𝐧𝐞 𝐜𝐥𝐨𝐬𝐞 𝐰𝐢𝐭𝐡 𝐠𝐫𝐞𝐞𝐧 𝐜𝐨𝐥𝐨𝐫 𝐲𝐨𝐮 𝐜𝐚𝐧 𝐨𝐩𝐞𝐧 𝐚 𝐥𝐨𝐧𝐠 𝐭𝐫𝐚𝐝𝐞 𝐚𝐧𝐝 𝐞𝐱𝐢𝐭 𝐰𝐡𝐞𝐧 𝐭𝐡𝐞 𝐫𝐞𝐝 𝐜𝐨𝐥𝐨𝐫 𝐚𝐩𝐩𝐞𝐚𝐫𝐬
I𝐧 𝐭𝐡𝐞 𝐬𝐚𝐦𝐞 𝐭𝐢𝐦𝐞 𝐰𝐞 𝐡𝐚𝐯𝐞 𝐨𝐭𝐡𝐞𝐫 𝐭𝐡𝐢𝐧𝐠𝐬 𝐭𝐨 𝐮𝐬𝐞 𝐰𝐢𝐭𝐡 𝐭𝐡𝐚𝐭 𝐰𝐨𝐮𝐥𝐝 𝐡𝐞𝐥𝐩 𝐮𝐬 𝐭𝐨 𝐦𝐚𝐤𝐞 𝐚 𝐠𝐨𝐨𝐝 𝐨𝐫𝐝𝐞𝐫
Like The 𝐂𝐲𝐜𝐥𝐞𝐫 𝐬𝐢𝐭𝐮𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐟𝐢𝐛𝐨𝐧𝐚𝐜𝐜𝐢 𝐥𝐞𝐯𝐞𝐥𝐬
We have the 𝐧𝐞𝐱𝐭 𝐟𝐢𝐛𝐨𝐧𝐚𝐜𝐜𝐢 𝐥𝐞𝐯𝐞𝐥𝐬 𝟐𝟎 ,𝟑𝟎 ,𝟓𝟎 ,𝟔𝟏.𝟖 ,𝟖𝟎 { 61.8 𝐢𝐬 𝐭𝐡𝐞 𝐭𝐡𝐞 𝐟𝐢𝐛𝐨𝐧𝐚𝐜𝐜𝐢 𝐠𝐨𝐥𝐝𝐞𝐧 𝐫𝐚𝐭𝐢𝐨 }
About The 𝐂𝐲𝐜𝐥𝐞𝐫 you can use it to know where is the current symbol go { UP : Green ,| Down : Red ,| White : Where the symbol movement is in a slight fluctuation without any significant up or down }
░▒▓█ 𝐍𝐨𝐭𝐞 : 𝐓𝐡𝐞 𝐂𝐲𝐜𝐥𝐞𝐫 𝐥𝐢𝐧𝐞 𝐢𝐬 𝐭𝐡𝐞 𝐬𝐚𝐦𝐞 𝐟𝐢𝐛𝐨𝐧𝐚𝐜𝐜𝐢 𝐥𝐞𝐯𝐞𝐥 ' 𝐫𝐚𝐭𝐢𝐨 𝟓𝟎 ' █▓▒░
𝐡𝐞𝐫𝐞'𝐬 𝐚 𝐟𝐚𝐬𝐭 𝐩𝐡𝐨𝐭𝐨 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐰 𝐞𝐯𝐞𝐫𝐲𝐭𝐡𝐢𝐧𝐠
When the RSI EMA Line reach the purple 𝐟𝐢𝐛𝐨𝐧𝐚𝐜𝐜𝐢 level its a very good entry point where the RSI is over sold and ready to g oup again
When the RSI EMA Line reach the Golden 𝐟𝐢𝐛𝐨𝐧𝐚𝐜𝐜𝐢 level its a very important area in the line crossover it then it's a very amazing entry time but if the RSI EMA line crossunder this line then the price w'll drop down
❤❤❤❤ 𝐟𝐢𝐧𝐚𝐥𝐥𝐲 𝐇𝐚𝐯𝐞 𝐚 𝐠𝐨𝐨𝐝 𝐭𝐢𝐦𝐞 ❤❤❤❤
Greater Currency Correlation Matrix (Forex)Other available matrixes I found have a limited number of forex symbols. Consequentially, you need to keep switching them if you want to do a proper analysis. As a result of that, I produced my own currency matrix.
Correlation studies relationships between different price charts.
High correlation may be completely random in the short term, but it may signify a fundamental relationship between the two symbols if calculated over the long term.
For example, the currency of an oil-producing country may rally along with oil, whereas the importer's currency may drop. This means that watching the oil price chart may be worth it for such pairs.
The script includes all Major and Minor pairs with the addition of Gold (XAUEUR) and two optional symbols.
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To avoid too frequent use of security(), I decided to calculate all symbol values from EUR pairs. It should improve performance and keep room for some additional symbols in the future.
Please report any bugs.
WhiteFang 100 / 200 EMA ColorFlipThis script combines the 100 and 200 EMA and exhibits colour changes ("colour flip") at price action crosses.
The intention here is to create an "at a glance trend indicator" to allow quick and accurate stock, forex and crypto screening prior to selecting targets for entry.
For example I find it prudent to select long when the PA is above both the White (100EMA) and Yellow (200EMA) - conversely selecting short when below Red (100EMA) and Orange (200EAM).
Other attributes:
- Multi timeframe compatible
- Easily to spot:
- golden cross = (white crossing over yellow), and
- Death cross ( red crossing below orange)
Volume Distribution DeviationThis indicator explores the question - "Does a currency's PERCENTAGE of trading volume verses other currencies show an insight into market sentiment?"
Specifically, it calculates the average market share based on the same time of day for a given number of days back (10 days by default) for trades involving the selected currency then presents fluctuations from that average as a percentage.
For example, assume that currencies involving EUR (EURUSD, EURAUD, EURCAD etc…) on average account for 20% of trading volume at 8am GMT (London open) however today at London open EUR crosses account for 30% at London open – 50% higher than usual. Does this information give us a heads up for market sentiment for the next few hours? And what if EUR volume was 50% higher than average and USD was 30% lower than average – should we focus on EUR and pass on USD that session?
Note that the indicator is not presenting information regarding volume quantity – it is showing you interest in that currency within the volume occurring that day. I already have an indicator that compares volume quantity to average volume quantity for that time of day, this takes the concept a little further and shows the normalised deviations from that average. So if USD volume was up 50% and NZD was up 50% they will show as equal on the indicator even though the actual traded volume of USD is probably x10 higher.
I find the 15 minute timeframe gives the most meaningful data. I use an 8 window chart and display the deviations for each currency (NZD, AUD, JPY, CHF, EUR, GBP, CAD, USD). If you set to 'Automatic' the indicator will automatically chose the currency based on the currency you crossed with gold (OANDA:XAUNZD, OANDA:XAUAUD, OANDA:XAUJPY, OANDA:XAUCHF, OANDA:XAUEUR, OANDA:XAUGBP, OANDA:XAUCAD, OANDA:XAUUSD). I tend to look at the average deviation rather than an isolated spike.
There are features in the indicator to try to summarise and highlight impactful data - highlighted deviations over a set tolerance (10% by default) and the SMA of the deviations.
Good luck
