Projection Bandwidth [CC]The Projection Bandwidth was created by Mel Widner (Stocks and Commodities Jul 1995) and this is another of my series of indicators that I consider undiscovered gems. For those of you who are unaware, the Bandwidth indicator measures the distance between the high and low bands and if you remember from my Projection Bands script, the Projection Bands give pretty accurate early signals of trend reversals and followed fairly closely by a large bulge in the bands. The large bulges in the bands essentially act as the confirmation that the trend reversal is happening and so that brings me to this indicator. This indicator gives signals based on if it has reached a peak or a valley. Both extremes mean that the current trend is ending and I have color coded it based on the buy and sell signals from my Projection Bands indicator. 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 scripts or indicators you would like to see me publish!
Trendreverse
Trend Analysis Index [CC]The Trend Analysis Index was created by Adam White and not to be confused with the Trend Analysis Indicator that I also published. This indicator operates under the same idea but using a completely different calculation to achieve similar results. The idea behind this indicator is for a combination of volatility and trend confirmation. If the indicator is above it's signal line then the stock is very volatile and vice versa. If the stock is currently trending as in above a chosen moving average for example and the indicator falls below the signal line then there is a pretty good chance in a trend reversal. The recommended buy and sell system to use is to pair this indicator with a moving average crossover system which I have included in the script. Buy when the indicator is above it's signal and the shorter moving average crosses above the longer moving average. For selling you would do the same and sell when the indicator is above it's signal and the shorter moving average crosses below the longer moving average. I have included strong buy and sell signals in addition to the normal ones so stronger signals are darker in color and normal signals are lighter in color.
Let me know what other indicators or scripts you would like to see me publish!
Course Gradient IndicatorNames:
"Course Gradient Indicator" or
"Punctual Deviaton of Course Gradient Indicator" or shortly
"PDCG Indicator"
Description:
I developed this Indicator to identify potential changes in the course gradient (aka slope of course). If you want to know what kind of mathmatical operations where used for this, look at the source code below
Usage:
Generally, i would say that the "SMA of Gradient" crossing above both the "MAG Smooth" and the "Indication" lines (sorry for the bad names btw. If you have better ideas for easier names, tell me) is a good indication for a rising course. Therefore - dichotomous - when it crosses below both other lines, it might be an indication for a falling course.
Please go ahead and experiment with this indicator.
Let me know what you think :)
