Price Action Signals

2022년 6월 2일

Indicator that shows buy/sell signals based on price action as it relates to a 20 day moving average. If the candle is above the 20 day moving average, we look for candles with long wicks on the top indicating selling pressure. If the candle is below the 20 day moving average we look for candles with a long bottom wick indicating buying pressure. The rules for the wick and the price action can be modified by the user. The two user defined parameters are price movement and wick length.

For instance, the user can choose to only show arrows when candle has moved by X amount. The smaller the timeframe, the smaller the amount. I Recommended the following values when looking at SPY:

On a 1m chart: .10 cents
5min chart: .15 cents
15m chart: .25 cents
1h chart: 1 dollar,
1D chart: 2 dollars

Your mileage will vary.

With the wicks, you choose a percentage. You can choose to only show an arrow above or below a candle if the wick size is at least x% the size of the candle body.

2022년 6월 3일

릴리즈 노트

Removed division by 100 for first input, we're taking the actual value, not a percentage.

2022년 6월 4일

릴리즈 노트

Changed default step value for candle wick length and removed commentary on how to set price value.

2022년 6월 4일

릴리즈 노트

Modified plot to use triangles instead of arrows. Also further modified the step setting for candle wick length.

2022년 6월 4일

릴리즈 노트

Modified plot arrows, changed plot.

2022년 6월 7일

릴리즈 노트

Added ability for user to pick moving average length.