Oscillators with DivergencesIf you do enjoy this indicator, check out my Ultimate Indicator! It is another collection of indicators all into one but that is for price chart indicators like Donchian, Keltner, EMAs, VWAP, Super Trend, etc.
This is a culmination of hundreds of hours (maybe even a thousand, honestly) of work spent working with dozens of indicators and now taking all of the ones I like the most and combining them into one so you can easily switch between them. On top of that, I have my own custom divergence code that can look back up to five pivots!
There's the following indicators all wrapped into this one:
MACD
RSI
CCI
Volume-Weighted MACD
MFI
Stochastic
Stochastic RSI
I could not get a working method of looking back several pivots from other people's code so I took a 1-pivot lookback method and copied out several times and made necessary changes to work properly. It will also draw an "early divergence" the moment it's happening rather than waiting the normal 5 candles to show. Once the 5 candles have passed, it will pick the furthest back divergence as the one to stay.
Let's say you have the divergences set to 3 pivot points. If a divergence happens that goes back 1 pivot point, but later a 3 pivot divergence overlaps it, the 1 pivot will get removed after the 3 pivot early divergence is confirmed after its 5 candles have passed. Just put it on the chart and you'll see, it sounds crazy to explain.
I've added a bunch of tooltips to explain each setting. Please read them if you have questions. I've also added notes into my code if you do choose to use it for your own purposes or make changes. I wish you luck haha, it's a bit of a mess. Some things were commented out but elft in there just beacuse I never know when I want to re-enable it or just see what the original code was. Indicator
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VWMACDV2 w/Intraday Intensity Index Histogram & VBCB Hello traders! In this script i tried to combine Kıvanç Özbilgiç's Volume Based Coloured Bars, Volume Weighted Macd V2 and Intraday Intensity Index developed by Dave Bostian and added to Tradingview by Kıvanç Özbilgiç. Let's see what we got here;
VBCB, Paints candlestick bars according to the volume of that bar. Period is 30 by default. If you're trading stocks, 21 should be better.
Volume Weighted Macd V2, "Here in this version; Exponential Moving Averages used and Weighted by Volume instead of using only vwma (Volume Weighted Moving Averages)." Says, Kıvanç Özbilgiç.
III, "A technical indicator that approximates the volume of trading for a specified security in a given day. It is designed to help track the activity of institutional block traders and is calculated by subtracting the day's high and low from double the closing price, divided by the volume and multiplied by the difference between the high and the low."
*Histogram of vwmacd changes color according to the value of III. (Green if positive, yellow if negative value)*
VWMACD also comes with the values of 21,13,3... Which are fibonacci numbers and that's how i use it. You can always go back to the good old 26,12,9.
Other options according to the fibonacci numbers might be= 21,13,5-13,8,3-13,8,5... (For shorter terms of trading)
Trading combined with the bollinger bands is strongly advised for both VWMACD and III. VBCB is just the candy on top :)
Enjoy! Indicator
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Trend Thrust Indicator - RafkaThis indicator defines the impact of volume on the volume-weighted moving average, emphasizing trends with greater volume.
What determines a security’s value? Price is the agreement to exchange despite the possible disagreement in value. Price is the conviction, emotion, and volition of investors. It is not a constant but is influenced by information, opinions, and emotions over time. Volume represents this degree of conviction and is the embodiment of information and opinions flowing through investor channels. It is the asymmetry between the volume being forced through supply (offers) and demand (bids) that facilitates price change. Quantifying the extent of asymmetry between price trends and the corresponding volume flows is a primary objective of volume analysis. Volume analysis research reveals that volume often leads price but may also be used to confirm the present price trend.
Trend thrust indicator
The trend thrust indicator (TTI), an enhanced version of the volume-weighted moving average convergence/divergence (VW-Macd) indicator, was introduced in Buff Pelz Dormeier's book 'Investing With Volume Analysis'. The TTI uses a volume multiplier in unique ways to exaggerate the impact of volume on volume-weighted moving averages. Like the VW-Macd, the TTI uses volume-weighted moving averages as opposed to exponential moving averages. Volume-weighted averages weigh closing prices proportionally to the volume traded during each time period, so the TTI gives greater emphasis to those price trends with greater volume and less emphasis to time periods with lighter volume. In the February 2001 issue of Stocks & Commodities, I showed that volume-weighted moving averages (Buff averages, or Vwmas) improve responsiveness while increasing reliability of simple moving averages.
Like the Macd and VW-Macd, the TTI calculates a spread by subtracting the short (fast) average from the long (slow) average. This spread combined with a volume multiplier creates the Buff spread Indicator
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vwMACD_VXI+CMFNOTE: Not useful for <15 mins timeframes.
Hey!
I added a CMF to read market control. It gives a bit mire insight than the casual MACD Histogram, since it's formula is also based on volume and not just in price change.
How yo read CMF:
Possitive value = Bulls are in control of the market
Negative value = Bears are in control the market
Impulsive divergence = Bulls are taking the control, Bears are loosing it (yellow example)
Corrective divergence = Bears are taking the control, Bulls are loosing it (no example, but its the opposite, try to find it out :o)
You can study divergencies and convergencies to read the trend strenght, while you can check the trend development via the MACD crossing over.
MACD to check an opportunity, CMF to check if it's a good or a shitty one ;)
As you can see,
yellow divergencies = CMF
purple divergencies = MACD
Also, check my StotRSI Oscillator + ADX for trend strenght + Buy/Sell point script, it does a great job with vwMACD+CMF! ;)
For any question, just shoot it on the comments.
Cheers!
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