Indicator
Fabian Z-ScoreFabian Z-Score — % Distance & Z-Scores for SPX / DJI / XLU
What it does
This indicator measures how far three market proxies are from a moving average and standardizes those distances into z-scores so you can spot stretch/mean-reversion and relative out/under-performance.
Universe: S&P 500 (SPX), Dow Jones (DJI) and Utilities (XLU). You can change any of these in Inputs.
Anchor MA: user-selectable MA type (SMA/EMA/RMA/WMA/VWMA/HMA/LSMA/ALMA) and length (default 39; a popular weekly anchor).
Outputs
% from MA: 100 × (𝐶𝑙𝑜𝑠𝑒 − 𝑀𝐴) / 𝑀𝐴
Time-series Z: z-score of the last N % distances (default 39) → “how stretched vs its own history?”
Cross-sectional Z: z-score of each % distance within the trio on this bar → “who’s strongest vs the others right now?”
A compact mini table (top-right) shows the latest values for each symbol: % from MA, Z(ts) and Z(xsec).
Panels & Visualization
Toggle what you want to see in View:
Plot % distance — raw % above/below the MA (0% line shown).
Plot time-series Z — standardized stretch with ±Threshold guides (default ±2σ).
Plot cross-sectional Z — relative z across SPX, DJI, XLU (0 = at the trio’s mean).
Smoothing — optional light MA on the plotted series (set to 1 for none).
A price-panel Moving Average is drawn with your chosen type/length for visual context.
Colors: SPX = teal, DJI = orange, XLU = purple.
Alerts
Two built-in alert conditions (time-series Z only):
“Z(ts) crosses up +Thr” — any of the three crosses above +Threshold.
“Z(ts) crosses down -Thr” — any crosses below −Threshold.
When enabled, the chart background tints faint green (up cross) or red (down cross) on those bars.
How to use (ideas, not advice)
On weekly charts, a 39-length MA/Z lookback often captures major risk-on/off swings. (Fabian Timing)
Deep negative Z(ts) (e.g., ≤ −2σ or −3σ) frequently accompanies panic and mean-reversion setups.
High positive Z(ts) suggests over-extension; watch for momentum fades.
Cross-sectional Z helps rank leadership today:
Z(xsec) > 0 → stronger than the trio’s mean this bar; Z(xsec) < 0 → weaker.
Utilities (XLU) turning positive x-sec while the others are negative can hint at defensive rotation.
If all 3 are above 0, go long, if below 0 go cash.
Combine: look for extreme Z(ts) aligning with lead/lag Z(xsec) to time entries/exits or hedges.
Inputs (quick reference)
Symbols: SPX / DJI / XLU (editable).
MA type & length: SMA, EMA, RMA, WMA, VWMA, HMA, LSMA, ALMA; default EMA(39).
Z-score lookback (ts): default 39.
Smoothing on plots: default 1 (off).
Z threshold (±): default 2.0 (guide lines & alerts). Indicator
Indicator
Weekly OHLM [CrossTrade]The "Weekly OHLM" is a versatile utility indicator designed for traders who focus on weekly price movements. This indicator offers a comprehensive view of an asset's weekly price range and dynamic signaling features. Here's a summary of its key functionalities and how it works:
Weekly Price Levels: The indicator plots three critical levels based on weekly price data: the weekly high, weekly low, and weekly open. These levels are recalculated every week, providing a clear picture of the price range and the opening price for the week.
Midpoint Calculation: A crucial feature of this indicator is the calculation of the midpoint of the week's price range. This midpoint is derived by averaging the weekly high and weekly low, offering a reference point for the week's price equilibrium.
Dynamic Updating: As the week progresses, the indicator dynamically updates the weekly high and low if newer high or low prices are observed. This feature ensures that the plotted levels accurately reflect the current week's price movements.
Visual Highlights: The indicator uses color-coded plots to enhance visual clarity. The weekly high is marked in green, the weekly low in red, and the weekly open in blue. The midpoint is plotted in yellow, making it easily distinguishable.
Bar Coloring for New Highs and Lows: Bars that touch or surpass the weekly high are colored lime, and those that touch or drop below the weekly low are colored purple. This color-coding provides immediate visual cues about price touching these significant levels.
Alert System
The indicator includes a sophisticated alert system that notifies traders of specific events:
Crossing Over Midpoint: An alert is triggered when the price crosses over the midpoint, suggesting a potential upward movement.
Crossing Under Midpoint: An alert is activated when the price crosses under the midpoint, indicating a potential downward trend.
Weekly High and Low Touch: Alerts can also be set for when the price touches or exceeds the weekly high or low, signaling significant price movements.
This indicator is particularly useful for traders who base their strategies on weekly timeframes or need to understand weekly price dynamics in relation to intraday trading. By offering a clear view of important price levels and dynamic alerts, it aids in making informed trading decisions based on significant weekly price movements. Indicator
Monday_Weekly_Range/ErkOzi/Deviation Level/V1"Hello, first of all, I believe that the most important levels to look at are the weekly Fibonacci levels. I have planned an indicator that automatically calculates this. It models a range based on the weekly opening, high, and low prices, which is well-detailed and clear in my scans. I hope it will be beneficial for everyone.
***The logic of the Monday_Weekly_Range indicator is to analyze the weekly price movement based on the trading range formed on Mondays. Here are the detailed logic, calculation, strategy, and components of the indicator:
***Calculation of Monday Range:
The indicator calculates the highest (mondayHigh) and lowest (mondayLow) price levels formed on Mondays.
If the current bar corresponds to Monday, the values of the Monday range are updated. Otherwise, the values are assigned as "na" (undefined).
***Calculation of Monday Range Midpoint:
The midpoint of the Monday range (mondayMidRange) is calculated using the highest and lowest price levels of the Monday range.
***Fibonacci Levels:
// Calculate Fibonacci levels
fib272 = nextMondayHigh + 0.272 * (nextMondayHigh - nextMondayLow)
fib414 = nextMondayHigh + 0.414 * (nextMondayHigh - nextMondayLow)
fib500 = nextMondayHigh + 0.5 * (nextMondayHigh - nextMondayLow)
fib618 = nextMondayHigh + 0.618 * (nextMondayHigh - nextMondayLow)
fibNegative272 = nextMondayLow - 0.272 * (nextMondayHigh - nextMondayLow)
fibNegative414 = nextMondayLow - 0.414 * (nextMondayHigh - nextMondayLow)
fibNegative500 = nextMondayLow - 0.5 * (nextMondayHigh - nextMondayLow)
fibNegative618 = nextMondayLow - 0.618 * (nextMondayHigh - nextMondayLow)
fibNegative1 = nextMondayLow - 1 * (nextMondayHigh - nextMondayLow)
fib2 = nextMondayHigh + 1 * (nextMondayHigh - nextMondayLow)
***Fibonacci levels are calculated using the highest and lowest price levels of the Monday range.
Common Fibonacci ratios such as 0.272, 0.414, 0.50, and 0.618 represent deviation levels of the Monday range.
Additionally, the levels are completed with -1 and +1 to determine at which level the price is within the weekly swing.
***Visualization on the Chart:
The Monday range, midpoint, Fibonacci levels, and other components are displayed on the chart using appropriate shapes and colors.
The indicator provides a visual representation of the Monday range and Fibonacci levels using lines, circles, and other graphical elements.
***Strategy and Usage:
The Monday range represents the starting point of the weekly price movement. This range plays an important role in determining weekly support and resistance levels.
Fibonacci levels are used to identify potential reaction zones and trend reversals. These levels indicate where the price may encounter support or resistance.
You can use the indicator in conjunction with other technical analysis tools and indicators to conduct a more comprehensive analysis. For example, combining it with trendlines, moving averages, or oscillators can enhance the accuracy.
When making investment decisions, it is important to combine the information provided by the indicator with other analysis methods and use risk management strategies.
Thank you in advance for your likes, follows, and comments. If you have any questions, feel free to ask."
Indicator
Indicator
DAYOFWEEK performance1 -Objective
"What is the ''best'' day to trade .. Monday, Tuesday...."
This script aims to determine if there are different results depending on the day of the week.
The way it works is by dividing data by day of the week (Monday, Tuesday, Wednesday ... ) and perform calculations for each day of the week.
1 - Objective
2 - Features
3 - How to use (Examples)
4 - Inputs
5 - Limitations
6 - Notes
7 - Final Tooughs
2 - Features
AVG OPEN-CLOSE
Calculate de Percentage change from day open to close
Green % (O-C)
Percentage of days green (open to close)
Average Change
Absolute day change (O-C)
AVG PrevD. Close-Close
Percentage change from the previous day close to the day of the week close
(Example: Monday (C-C) = Friday Close to Monday close
Tuesday (C-C) = Monday C. to Tuesday C.
Green % (C1-C)
Percentage of days green (open to close)
AVG Volume
Day of the week Average Volume
Notes:
*Mon(Nº) - Nº = Number days is currently calculated
Example: Monday (12) calculation based on the last 12 Mondays. Note: Discrepancies in numbers example Monday (12) - Friday (11) depend on the initial/end date or the market was closed (Holidays).
3 - How to use (Examples)
For the following example, NASDAQ:AAPL from 1 Jan 21 to 1 Jul 21 the results are following.
The highest probability of a Close being higher than the Open is Monday with 52.17 % and the Lowest Tuesday with 38.46 %. Meaning that there's a higher chance (for NASDAQ:AAPL ) of closing at a higher value on Monday while the highest chance of closing is lower is Tuesday. With an average gain on Tuesday of 0.21%
Long - The best day to buy (long) at open (on average) is Monday with a 52.2% probability of closing higher
Short - The best day to sell (short) at open (on average) is Tuesday with a 38.5% probability of closing higher (better chance of closing lower)
Since the values change from ticker to ticker, there is a substantial change in the percentages and days of the week. For example let's compare the previous example ( NASDAQ:AAPL ) to NYSE:GM (same settings)
For the same period, there is a substantial difference where there is a 62.5% probability Friday to close higher than the open, while Tuesday there is only a 28% probability.
With an average gain of 0.59% on Friday and an average loss of -0.34%
Also, the size of the table (number of days ) depends if the ticker is traded or not on that day as an example COINBASE:BTCUSD
4 - Inputs
DATE RANGE
Initial Date - Date from which the script will start the calculation.
End Date - Date to which the script will calculate.
TABLE SETTINGS
Text Color - Color of the displayed text
Cell Color - Background color of table cells
Header Color - Color of the column and row names
Table Location - Change the position where the table is located.
Table Size - Changes text size and by consequence the size of the table
5 - LIMITATIONS
The code determines average values based on the stored data, therefore, the range (Initial data) is limited to the first bar time.
As a consequence the lower the timeframe the shorter the initial date can be and fewer weeks can be calculated. To warn about this limitation there's a warning text that appears in case the initial date exceeds the bar limit.
Example with initial date 1 Jan 2021 and end date 18 Jul 2021 in 5m and 10 m timeframe:
6 - Notes and Disclosers
The script can be moved around to a new pane if need. -> Object Tree > Right Click Script > Move To > New pane
The code has not been tested in higher subscriptions tiers that allow for more bars and as a consequence more data, but as far I can tell, it should work without problems and should be in fact better at lower timeframes since it allows more weeks.
The values displayed represent previous data and at no point is guaranteed future values
7 - Final Tooughs
This script was quite fun to work on since it analysis behavioral patterns (since from an abstract point a Tuesday is no different than a Thursday), but after analyzing multiple tickers there are some days that tend to close higher than the open.
PS: If you find any mistake ex: code/misspelling please comment.
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