Fibonacci Commodity Stenth Index
Fibonacci Commodity Strength Value tells us about the strength and weakness of bull or bear market.
The main focus in this is too be done at reversal. It can also be used for identifying fake ups/downs.
If all the 4 lines moves upward after a huge up spike, then notice the values of all 4 values. If red fib is smaller than green fib then it is a fake trend. If its more then its uptrend and same for bear movement. ;)
It also represents cci (in terms of values) and rsi (in terms of waves).
Enjoy !!!!!
The main focus in this is too be done at reversal. It can also be used for identifying fake ups/downs.
If all the 4 lines moves upward after a huge up spike, then notice the values of all 4 values. If red fib is smaller than green fib then it is a fake trend. If its more then its uptrend and same for bear movement. ;)
It also represents cci (in terms of values) and rsi (in terms of waves).
Enjoy !!!!!
릴리즈 노트:
Removed some lower lengths and added one extra high length. Also for visual analysis, added HullMA and Color Differentiation.
릴리즈 노트:
There are two types of Technical Indicators.. Lagging and Leading. Lagging indicators lag and give trend confirmation later.
Whereas, leading indicators give prior information.
But both have their own disadvantages and advantages.
In here, i have used CCI (leading) and then taken out its RSI(leading) in order to range from 0 to 100. And then added EMA (lagging) to it.
In this i have chosen three lengths, 13, 21, 34 (three numbers of Fibonacci series).
Usage :
Whereas, leading indicators give prior information.
But both have their own disadvantages and advantages.
In here, i have used CCI (leading) and then taken out its RSI(leading) in order to range from 0 to 100. And then added EMA (lagging) to it.
In this i have chosen three lengths, 13, 21, 34 (three numbers of Fibonacci series).
Usage :
- Reversals
If we find these dark color (rounded in chart), then there might be a reversal coming (Leading indicators tells this).
Failure Identification
As shown below, dark color came but prices gone higher. This failure can be identified by trend in indicator. For example, if prices move higher and a dark color appears but indicator is also moving higher, so there will be no reversal..
Trend Strength
It is common as it is CCI transformed in RSI and smoothed with EMA over 3 different lengths.
Divergence
The best result are divergence, easily spotted. You may find it addicted.
릴리즈 노트:
- Updated to version 4
Added options to manually change length in Fibonacci series.