Strength

Multi-Timeframe RSI Grid The relative strength index (RSI) is a momentum indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions. The RSI is normally displayed as an oscillator separately from price and can have a reading from 0 to 100. This indicator displays the current RSI levels at up to 6 timeframes (of your choosing) in a grid. If the RSI levels reach overbought (above 70) or oversold (below 30) conditions, it changes the color to help you see that RSI has reached extreme levels. Note that in PulseWire, when the chart is on a higher timeframe, the lower timeframe RSI levels don't calculate properly. If those conditions are met, this indicator will hide those values in the grid. If none of your selected values are available, it hides the table completely. There are configuration options, like: Position the grid in any corner of the screen Style customization (color, size) Customize RSI length

Indicator

Relative Strength Relative 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

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by WebPro_Expert

Relative Strength Screener V2 - Top 100 volume leaders New and improved strength heatmap for the top 100 volume leaders in the S&P. Coded in a workaround to the 40 request.security limitation that currently exists in Pine. Added the ability to input the number of columns (time frames) you wish to display. For 3 time frame analysis, add the indicator to your chart 3 times. Change the number of columns to 3 for each of these indicators. Specify the column and time frame for each one (example, 5 minute for column 1, 1 hour for column 2 and Daily chart for column 3). It will automatically resize the columns/tables to properly display the output. This provides a sort of "Strength Heatmap" for the top 100 stocks in the S&P. To achieve this, make a copy of the indicator and substitute lines 68-105 with the following premade watchlists : Make a copy 1 - FIrst 38 volume leaders in the S&P s01 = input.symbol('AAPL', group = 'Symbols', inline = 's01') s02 = input.symbol('ABBV', group = 'Symbols', inline = 's02') s03 = input.symbol('ABT', group = 'Symbols', inline = 's03') s04 = input.symbol('ACN', group = 'Symbols', inline = 's04') s05 = input.symbol('AEP', group = 'Symbols', inline = 's05') s06 = input.symbol('AIG', group = 'Symbols', inline = 's06') s07 = input.symbol('AMAT', group = 'Symbols', inline = 's07') s08 = input.symbol('AMD', group = 'Symbols', inline = 's08') s09 = input.symbol('APA', group = 'Symbols', inline = 's09') s10 = input.symbol('ATVI', group = 'Symbols', inline = 's10') s11 = input.symbol('AXP', group = 'Symbols', inline = 's11') s12 = input.symbol('BA', group = 'Symbols', inline = 's12') s13 = input.symbol('BBWI', group = 'Symbols', inline = 's13') s14 = input.symbol('BBY', group = 'Symbols', inline = 's14') s15 = input.symbol('BK', group = 'Symbols', inline = 's15') s16 = input.symbol('BMY', group = 'Symbols', inline = 's16') s17 = input.symbol('BRK.B', group = 'Symbols', inline = 's17') s18 = input.symbol('C', group = 'Symbols', inline = 's18') s19 = input.symbol('CAT', group = 'Symbols', inline = 's19') s20 = input.symbol('CCL', group = 'Symbols', inline = 's20') s21 = input.symbol('CFG', group = 'Symbols', inline = 's21') s22 = input.symbol('CL', group = 'Symbols', inline = 's22') s23 = input.symbol('CNC', group = 'Symbols', inline = 's23') s24 = input.symbol('COF', group = 'Symbols', inline = 's24') s25 = input.symbol('COP', group = 'Symbols', inline = 's25') s26 = input.symbol('COST', group = 'Symbols', inline = 's26') s27 = input.symbol('CRM', group = 'Symbols', inline = 's27') s28 = input.symbol('CVS', group = 'Symbols', inline = 's28') s29 = input.symbol('CVX', group = 'Symbols', inline = 's29') s30 = input.symbol('DAL', group = 'Symbols', inline = 's30') s31 = input.symbol('DIS', group = 'Symbols', inline = 's31') s32 = input.symbol('DISCA', group = 'Symbols', inline = 's32') s33 = input.symbol('DISCK', group = 'Symbols', inline = 's33') s34 = input.symbol('DISH', group = 'Symbols', inline = 's34') s35 = input.symbol('DLTR', group = 'Symbols', inline = 's35') s36 = input.symbol('DOW', group = 'Symbols', inline = 's36') s37 = input.symbol('DVN', group = 'Symbols', inline = 's37') s38 = input.symbol('EBAY', group = 'Symbols', inline = 's38') Make a copy 2 - Tickers 39 to 76 s01 = input.symbol('EOG', group = 'Symbols', inline = 's01') s02 = input.symbol('F', group = 'Symbols', inline = 's02') s03 = input.symbol('FB', group = 'Symbols', inline = 's03') s04 = input.symbol('FCX', group = 'Symbols', inline = 's04') s05 = input.symbol('FIS', group = 'Symbols', inline = 's05') s06 = input.symbol('GE', group = 'Symbols', inline = 's06') s07 = input.symbol('GIS', group = 'Symbols', inline = 's07') s08 = input.symbol('GM', group = 'Symbols', inline = 's08') s09 = input.symbol('GS', group = 'Symbols', inline = 's09') s10 = input.symbol('HD', group = 'Symbols', inline = 's10') s11 = input.symbol('IBM', group = 'Symbols', inline = 's11') s12 = input.symbol('INTC', group = 'Symbols', inline = 's12') s13 = input.symbol('JNJ', group = 'Symbols', inline = 's13') s14 = input.symbol('JPM', group = 'Symbols', inline = 's14') s15 = input.symbol('KR', group = 'Symbols', inline = 's15') s16 = input.symbol('LUV', group = 'Symbols', inline = 's16') s17 = input.symbol('LVS', group = 'Symbols', inline = 's17') s18 = input.symbol('MA', group = 'Symbols', inline = 's18') s19 = input.symbol('MCD', group = 'Symbols', inline = 's19') s20 = input.symbol('MCHP', group = 'Symbols', inline = 's20') s21 = input.symbol('MDT', group = 'Symbols', inline = 's21') s22 = input.symbol('MET', group = 'Symbols', inline = 's22') s23 = input.symbol('MGM', group = 'Symbols', inline = 's23') s24 = input.symbol('MOS', group = 'Symbols', inline = 's24') s25 = input.symbol('MPC', group = 'Symbols', inline = 's25') s26 = input.symbol('MRK', group = 'Symbols', inline = 's26') s27 = input.symbol('MRNA', group = 'Symbols', inline = 's27') s28 = input.symbol('MS', group = 'Symbols', inline = 's28') s29 = input.symbol('MSFT', group = 'Symbols', inline = 's29') s30 = input.symbol('MU', group = 'Symbols', inline = 's30') s31 = input.symbol('NCLH', group = 'Symbols', inline = 's31') s32 = input.symbol('NEE', group = 'Symbols', inline = 's32') s33 = input.symbol('NEM', group = 'Symbols', inline = 's33') s34 = input.symbol('NFLX', group = 'Symbols', inline = 's34') s35 = input.symbol('NKE', group = 'Symbols', inline = 's35') s36 = input.symbol('NVDA', group = 'Symbols', inline = 's36') s37 = input.symbol('ORCL', group = 'Symbols', inline = 's37') s38 = input.symbol('OXY', group = 'Symbols', inline = 's38') Make a copy 3 - tickers 77 to 114 s01 = input.symbol('PENN', group = 'Symbols', inline = 's01') s02 = input.symbol('PEP', group = 'Symbols', inline = 's02') s03 = input.symbol('PFE', group = 'Symbols', inline = 's03') s04 = input.symbol('PG', group = 'Symbols', inline = 's04') s05 = input.symbol('PM', group = 'Symbols', inline = 's05') s06 = input.symbol('PYPL', group = 'Symbols', inline = 's06') s07 = input.symbol('QCOM', group = 'Symbols', inline = 's07') s08 = input.symbol('RTX', group = 'Symbols', inline = 's08') s09 = input.symbol('SBUX', group = 'Symbols', inline = 's09') s10 = input.symbol('SCHW', group = 'Symbols', inline = 's10') s11 = input.symbol('SLB', group = 'Symbols', inline = 's11') s12 = input.symbol('SYF', group = 'Symbols', inline = 's12') s13 = input.symbol('T', group = 'Symbols', inline = 's13') s14 = input.symbol('TFC', group = 'Symbols', inline = 's14') s15 = input.symbol('TGT', group = 'Symbols', inline = 's15') s16 = input.symbol('TJX', group = 'Symbols', inline = 's16') s17 = input.symbol('TMUS', group = 'Symbols', inline = 's17') s18 = input.symbol('TSLA', group = 'Symbols', inline = 's18') s19 = input.symbol('TWTR', group = 'Symbols', inline = 's19') s20 = input.symbol('TXN', group = 'Symbols', inline = 's20') s21 = input.symbol('UAL', group = 'Symbols', inline = 's21') s22 = input.symbol('UNH', group = 'Symbols', inline = 's22') s23 = input.symbol('V', group = 'Symbols', inline = 's23') s24 = input.symbol('VIAC', group = 'Symbols', inline = 's24') s25 = input.symbol('WBA', group = 'Symbols', inline = 's25') s26 = input.symbol('WFC', group = 'Symbols', inline = 's26') s27 = input.symbol('WMT', group = 'Symbols', inline = 's27') s28 = input.symbol('WYNN', group = 'Symbols', inline = 's28') s29 = input.symbol('XOM', group = 'Symbols', inline = 's29') s30 = input.symbol('SPY', group = 'Symbols', inline = 's30') s31 = input.symbol('SPY', group = 'Symbols', inline = 's31') s32 = input.symbol('SPY', group = 'Symbols', inline = 's32') s33 = input.symbol('SPY', group = 'Symbols', inline = 's33') s34 = input.symbol('SPY', group = 'Symbols', inline = 's34') s35 = input.symbol('SPY', group = 'Symbols', inline = 's35') s36 = input.symbol('SPY', group = 'Symbols', inline = 's36') s37 = input.symbol('SPY', group = 'Symbols', inline = 's37') s38 = input.symbol('SPY', group = 'Symbols', inline = 's38')

Indicator

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!

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by cheatcountry

Currency Strength This 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).

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ROC Percentile Rate Of Change Percentile calculates the current ROC (user defined length) as a percentile rank. We use 2 separate arrays, one for all positive ROC values and one for all negative values within a defined lookback period. Then the current ROC value is compared to those arrays to find it's percentile ranking. For example, a ranking of 75 means the ROC is in the 75th percentile of all POSITIVE ROC values over the lookback period. A ranking of -80 is in the 80th percentile of all NEGATIVE ROC values over the lookback period. Most ROC scripts use raw ROC values (or smoothed or otherwise altered), or have stochastic formula applied to them, I've not seen one that displays ROC as percentile ranking of previous positive/negative values. What is the advantage? Raw ROC data only gives half the picture. What we want to do is compare the ROC to previous ROC values, to give a sense of scale. Raw ROC values don't give you that context and you can only compare visually, usually limited to the number of bars you can see on your screen. Using a percentile ranking gives us the context of current Rate of Change relative to the previous Rate of Change over a large lookback period, and not just visually but mathematically. Why not using a long stochastic ROC? The problem with stochastics in general is that an outlier data point can ruin the data for the rest of the lookback period. For example, imagine a huge outlier 8% ROC. The 2nd largest ROC is 4% and the 3rd largest is 2%, with all other values below this. In this example, a stochastic ROC would display the 8% outlier as 100, the 4% as 50, the 2% as 25 and all other data would be squeezed down between 0-25. Additionally, a value of 60 may have vastly different meaning depending on whether the lookback period contains a large outlier or not. With a percentile ranking, that 8% outlier would still have a value of 100. But the 4% and 2% would be 99 and 98 respectively (this assumes 100 data points in the series, in reality values will usually be decimals). This effectively flattens the curve and gives a more consistent and dependable experience, allowing you to more accurately assess the relative importance of the current ROC. The line of circles is set at the 50 and -50 values for quick comparison. Values > 50 represent ROC greater than 50% of previous positive ROC values. Values < -50 represent ROC greater than 50% of previous negative ROC values.

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RSI Levels, Multi-Timeframe The relative strength index (RSI) is a momentum indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions. RSI is normally displayed as an oscillator separately from price and can have a reading from 0 to 100. This indicator takes the RSI and plots the 30 & 70 levels onto the price chart so you can see when price is going to meet the 30 or 70 levels. The reason the 30 & 70 levels are important is because many traders (and bots) use those as signals to buy (at 30 RSI) or sell (at 70 RSI). Additionally, this indicator allows you to display not just the RSI levels of your currently viewed timeframe on the chart, but also shows the RSI levels of up to 6 different timeframes on the same chart. This allows you to quickly see if multiple RSI levels are aligning across different timelines, which is an even stronger indication that price is going to change direction when it meets those levels on the chart. There are a lot of nice configuration options, like: Style customization (color, thickness, size) Labels on the chart so you can tell which plots are the RSI levels Optionally display the plot as a horizontal line if all you care about is the RSI level right now Toggle overbought (RSI 70) or oversold (RSI 30) on/off completely

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TSI with histogram and MA - SamX This is an enhanced TSI. The others I've found on here have generally lacked sufficient settings context and/or alert definitions, so I made this version to address those gaps. In addition to that, I also added a way to plot a user-customizable moving average line of the TSI to better help identify trending conditions across TSI swings.

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Adaptive Relative Strength (ARS by Premal Parekh)Dear All, This is my first public script modified to adapt the concept of Mr. Premal Parekh on Adaptive Relative Strength - ARS) The original Script is developed by modhelius. I have proved the version as per my requirement and included concept of ARS. This script will remove the manual calculation task which is required on daily basis to calculate number of sessions from ARS Date. Hope this script will be helpful. If yes, do hit like button and share with your friends. Ashish Kesarkar India

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Relative Strength Improved (Premal Parekh ASR Version)This script is improved over the existing script developed by Mr. modhelius I have added ASR Concept of Mr. Premal Parekh. This script will remove manual calculation of Trading Days from ASR Date.

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RVM Relative Volume Momentum RVM Relative Volume Momentum is an indicator that shows relative volume as a percentage of volume over the last 5 bars to the average volume of the same 5 bars of the previous 3 days.

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RVI Relative Volume Intraday RVI 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.

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Relative Strength Comparison This script plots the ratio between a ticker and the selected index. Currently, I have US equities indexes listed + BTC. It's a great way to check for relative strength, determine if absolute highs relative to the ratio are being made, etc. Additionally, optional comparison of the RSI is included. I was just testing something out but figured I'd leave in here because why not. If you use this, enable the 1.0 line. Script is a bit slow, will try to optimize eventually.

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CCFp (Complex Common Frames percent) ,Currency Strength CCFp displays the strength of a currency pair. It is based on the CCFp of MT4. It is available for USD, EUR, GBP, CHF, JPY, AUD, CAD, NZD.

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RedK Bar Strength Inspector / Bar Strength Index (BSI)Summary ========= The Bar Strength Inspector / Bar Strength Index (BSI) is an indicator that evaluates each price bar against a user-selectable set of "strength categories" - BSI then calculates a combined score from these categories and provides an index - plotted as a centered oscillator - roughly similar to the way Relative Strength Index (RSI) works, which can be used to evaluate the strength of price move and the possibilities of trend continuation or reversal. Background ============= BSI is like a Swiss-army knife with many components - so apologies upfront if this guide gets long - and i know i will still miss few pieces that needs explaining. please alert me if something is not clear. BSI is an advanced / re-built version of my Ultimate Trader Oscillator (UTO) I continue to believe that one of the best trading tools that i can use, is a tool that can automate the visual inspection of the price chart - a tool that simulates (and quantifies in numbers/score) the way we visually look at a certain price bar, and make a judgement that "this is a strong bar, so I expect the trend down to possibly reverse" - BSI is a an attempt to achieve that. An attempt to answer a simple question (in a quantifiable manner): how strong / weak is this price bar - how does it compare to previous bars ? what is the average of that strength (or weakness) for the last few bars ?(based on the trader's preferred timeframe) How does BSI work ==================== * BSI will inspect and evaluate each bar against various (selectable) strength categories. * BSI will give a -100/+100 score against each "strength category", then combine these scores into an index and create an average of that index * the average index (also called BSI) will be calculated for both a short and long lengths * the short length represents "local / short-term" strength - plotted as a blue/orange line (with an additional signal line to make easier to "read") * the long-term reflects the broader bias (sentiment) - plotted as green/red area (or mountain) How is BSI different from UTO ============================= - I wrote BSI from the ground up to validate each scoring calculation and the resulting outcomes - so i would consider BSI to be more accurate than UTO - i wrote BSI in a way to make it a lot more flexible. BSI allows me to choose which category to include in the "inspection" - the strength categories are streamlined to reflect single bar strength, strength from bar-to-bar, and relative strength (range and volume) - they have also been chosen in a way that map to commonly used Technical Analysis concepts, to increase the value of BSI and the ability to compare with other common indicators (for example, BoP, Stochastic, Relative Volume and RSI) - added the table view - which i use mainly to track the action within the current bar - and to learn more about how to evaluate strength vs weakness with various chart patterns - UTO still represents the foundation of this work - but i will not update UTO any longer so all changes will be applied to the BSI- i have been using both UTO and BSI to guide my trading for the past few months. - couple of other features in BSI: - support for instruments with no volume data (even if the user chooses volume) - number of inspection categories will show as "7" in that case - ability to plot the individual category scores, and the total weighted score (for the selected categories) - these plots are hidden by default - ability to see the total score for all 8 (or 7 in case no volume data) categories regardless of how many are active - but only in the table view - ability to be used as both a lower (independent) and a top indicator (on the price chart) -- see below examples. Structure of the BSI Strength Categories ===================================== The first 3 inspected strength categories focus on "single bar strength", they evaluate how the bar closes compared to the low, the Balance of Power (BoP) and the relative BoP The next 3 categories focus on evaluating the bar-to-bar strength: how the bar closes compared to the low of the 2-bar range, how the bar closes compared to prior close - and the relative "shift" The last 2 "strength" categories evaluate the relative range of bar compared to recent average range and the relative volume. Understanding the bar inspection & scoring approach ================================== During inspection for each category, a score is calculated with a value between 0 to 100, then it will be made "directional" - which means that +100 represents highest possible strength score and a value of -100 is the highest possible "weakness" score Note that a 0 score doesn't mean "weak" - but rather "neutral" - this can be a bit confusing until we get used to the way BSI scoring works. Example: in relative volume, a bar associated with the lowest volume observed during the lookback length, will have a 0 relative volume score -- while a bar associated with the highest volume observed will have either a +100 or a -100 score (depending on whether it's an up or down bar) - same thing for relative range.. and so on Here are the 8 strength categories evaluated by the BSI 1 Bar closing score 2 Body : Spread (BoP) ratio 3 Relative BoP 4 2-bar Closing Score 5 2-bar Shift Ratio (Shift : 2R) 6 Relative Shift 7 Relative Range 8 Relative Volume Specific meaning of keywords / concepts (within BSI context): ====================================================== Relative : compared to recently observed values (= within Lookback # bars) Shift : the change in closing value vs prior bar Bar Spread : high - low Range : True Range ..... as in the tr() Pine function, so not to be confused with "spread" More detailed notes about scoring and calculations for each strength category are included within the code BSI Settings: ============= Here is a chart showing the main sections in the BSI Settings box and how to configure it to your preference Using the BSI: ================ - I use BSI for 2 main scenarios (1) Guiding my Day-to-day trading: the usage here is roughly similar to a volume-weighted dual-period RSI .. with a lot more options - picking and choosing between the 8 strength categories in BSI allows for 255 variations of "strength evaluations" - a trader can choose to focus only on "single bar strength" score categories, so only picks the top 3 in the settings - another trader wants to track only the strength reflected by the relative range and relative volume, so picks the lower 2 categories. another trader wants to use BSI as a volume weighted Balance of Power.. and so on. Many combinations are possible. i have added couple of charts that explain some of the "signals" we can expect from BSI (below chart) - note that i use the "Green/Red mountain plot" as the "prevailing sentiment" - as it confirms the longer term strength (or weakness). the BSI line plot reflects the short term strength and not necessarily tied directly to how the price is moving (see example in the chart - and also compare to how RSI works) - 2 important points here if you plan to use BSI in trading: set BSI up on a 1-min or 5-min chart and watch how it works to learn how it evaluates each bar - and always use BSI in combination with other indicators that you are familiar with to validate and confirm any signals (Important note: do not react to the values in the table as they change in real time - i found that to be very tempting - rather look at the broader context and the flow of the BSI / sentiment) - you can also test BSI with Paper Trading in TV - it's like a new car that you need some time to get used to :) (2) Use BSI to help learn chart / pattern analysis - watch BSI print scores against the various categories in real time to hone your chart (pattern) reading skills and how to evaluate strength of various bar shapes - for example, a bar that closes at the high but does not reach the mid point of the prior bar - strong or weak ? how about a doji or a hammer ? ...etc Chart showing main usage scenarios Example BSI in real time: ====================== I hope this work helps few fellow traders hone their trading skills, or help inspire other ideas - please let me know if you have feedback or suggestions.

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Burgerized MTF BB + Reverse Engineering RSI (RERSI) + Hidden S&R This is a mod of a script by informanerd that has helped me immensely with my trading setup. HUGE HUGE HUGE credit to him! Check him out! He gave me permission to publish this and so here I am, sharing it with you. I hope you all like it! This version is functionally essentially the same - the difference is in visualization choices and automation. Instead of selecting different timeframes, and thus having to change not one but 4 timeframes manually every time you look at a different time frame on the main chart, I found (with help from the kind community in the Pine Script chat right here on Tradingview!) a method to choose multiples so that you can have consistent results no matter what timeframe you are looking at. Default is set to multiples of 2, 4 and 8 which is the system I found works best for myself personally. I also changed visualization - crossovers are now highlighted in the background of the respective bands. By default I have chosen different transparency levels for crossovers then sitting inside the bands. This destroyed the ability to modify colors the old school way in Style tab, but I have added inputs for all the relative settings so you can modify the visual aspect to your hearts content, as I know my colors make most people barf (something I did when I was younger maybe?). Hope the nice barfs of color help you quickly see trends and reversals - I know they help me! Happy trading, no matter your timeframe! xD

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by burgercrisis

Relative Strength 3D Indicator [CC]This is a custom indicator of mine loosely based on the work by James Garofallou (Stocks and Commodities Sep 2020 pg 14) and this is meant for medium to long term trend confirmations. The idea behind this indicator is to capture 3 different dimensions of trend strength. The first dimension captures the overall strength of the underlying stock vs the market (in this case the S&P 500). The second dimension captures the overall trend strength by assigning a scoring system so when all faster moving averages are stronger than slower moving averages then it gets the max points. The final dimension is the strength of the overall strength of everything so far. 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!

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by cheatcountry

Support and Resistance by CainKellye Check out my automatic support and resistance indicator that uses the EMA of price change * relative volume as the bases of pivot search. It also tells the strength of the support and resistance lines calculated using a 4 times quicker EMA and using its distance from the slower one. The strongest plotted line has the maximum opacity and the weakest has the minimum opacity inside the given range. This calculation results in an organic detection of the support and resistance prices. You can set the distance range in percentage you want to have lines calculated around the current price. You can set the lines gravity distance inside which they are snapped together: the stronger line pulls the weaker to it by using strength weighted average for the new price value. You can increase the minimum opacity value in case you only see few lines (but the maximum is 15) You can change the used price for the lines to Close or High/Low but recommended is to use the average of those two (default) The distances multiplier helps to get a birds eye view easily when using 4H (or higher) chart and a separate one to use on Daily / Weekly / Monthly for even broader view. Lines and labels are drawn near the candles so you are still able to zoom in. Labels are not drawn when their line is barely visible (transparency >= 80) This indicator has been refined on the 15 minute and 1 hour charts of BTC and other cryptos but it works well in smaller volatility markets as well if the distances are adjusted accordingly.

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Ultimate RSIs This RSI script includes everything you could want on an RSI. There are multiple timeframes which will give context to market movement, as well as a highlight feature to make it easier to visualize overbought and oversold stocks. Tip: Uncheck the 4 plots with no color in them to remove the extra headers on the indicator.

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RSI median A RSI implementation tailored for a specific use case. Instead of using RSI with oversold and overbought values, I use it as a median value. If the RSI is above 50, the trend is bullish. If the RSI is below 50, the trend is bearish. This indicator is customized to help you easily identify market strength/weakness based on which side of the median value the RSI is.

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by valdrawinglines

[JRL] Multi-Symbol Strength Tracker I created this script to compare cryptocurrencies that tend to be correlated, but it could also be used for forex or any other market. It is a fairly simple concept and compares price of each symbol to the specified period ema. This is helpful for tracking highly correlated symbols and visualizing moments when they are out of sync, perhaps signaling good times for buying or selling.

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RedK_Momentum-based Step MA (MoStep_MA)Summary ========== This script plots a "momentum based" stepping Moving Average of various types - the idea is to visualize price moves in levels (or steps) to reduce "chart noise" - avoid getting caught in sideway moves - and enable better trade entry and exit decision. How does the MoStep_MA Work: ============================= - we first choose a "base MA" of our preferred type: WMA, EMA, SMA and Hull MA are available - this base MA will be visible in light gray on the chart and can be completely hidden (although it is useful - see chart below) - The steps are then created when a "momentum change" - expressed by a "relatively significant price move" - has been detected - either up or down A "Significant price move" is defined as a price move that is relatively large compared to the "recent" average (absolute) price moves within a certain period The "strength average" period can be adjusted - in terms of how the average is calculated (WMA, EMA, SMA), the number of bars (length) taken into consideration, as well as to include a "significance factor" of the price move relative to that average using a significance factor of 1.5 is like saying: i want a new step only when the price move is 1.5 times the average price moves within the last (x) bars the move has to be in the direction of the underlying MA trend - this is an additional condition i added, when i found that some moves will be significant but in the opposite direction and will cause a new step to be created - adding unnecessary "noise" Default settings and other tweaks =============================== By default, we use WMA for both the base MA and for calculating the average price change - other moving average types are available - the significance factor is set to 1 by default. feel free to experiment with other values and settings. here's a chart with some additional notes - the significance factor here is set to 1.5 times the average price move. - code is commented with further notes - this indicator should not be used in isolation - as usual, it should be supported by other trend and momentum indicators to get proper confirmation of signals

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FAJ Dogepack Combines EMA + RSI indicator Dieses Script ist eine einfache Kombination aus RSI und EMA. Es erlaubt euch zu erkennen in welche Richtung der Trend in dem aktuellen TimeFrame geht und wie stark dieser aktuell ist. Außerdem zeigt es euch ob gerade eher die Bullen oder die Bären den Markt dominieren. Mit Hilfe des Indikators lassen sich Top und Bottom des aktuellen Time Frames erkennen. Ich Empfehle nur eine Nutzung bei BTC um Wellen besser zu erkennen. Erinnert euch daran, das ist nur eine Beta und gibt immer noch viele Fehlsignale aus, also testet es für euch selber in verschiedenen TimeFrames. This script is a simple combination of RSI and EMA. It allows you to see in which direction the trend is going in the current time frame and how strong it is currently. It also shows you whether the bulls or the bears are dominating the market. With the help of the indicator, the top and bottom of the current time frame can be recognized. recommended only use in BTC to better detect waves. remember that it is in beta and still sends many false signals so you have to test it well in several time periods.

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by FiatEaterJens

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