This is the third iteration of Godmode. This time I borrowed the method used by shtcoinr to render supply/demand, resistance and support zones. The idea here is to input the appropriate benchmark tickerid to the asset class you're trading and to paint zones according to the price activity of the selected tickerid. This works very well trying to paint meaningful zones against noisy stocks, currencies, commodities etc. Use a correlation coefficient to determine the best benchmark for your asset class.
The list will be updated in the future as more people share the resources that have helped, or continue to help, them. Follow me on Twitter to keep up-to-date with the growing list of resources.
Suggestions or Questions?
Don't even kinda hesitate to forward them to me. My (metaphorical) door is always open.
@Trader78, In the benchmark field - input the name of the stock with the exchange . Example - for TATASTEEL available in NSE , Input as NSE:TATASTEEL
MartinWeb
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@manojm4, but it says "Use a correlation coefficient to determine the best benchmark for your asset class." And as a correlation coefficient is the specific measure that quantifies the strength of the linear relationship between two variables in a correlation analysi. Why do you want to compare Tata with Tata?
rdecker7878
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@MartinWeb, This comment of yours is GENIUS sir! I was examining the supply / demand zones in the crypto space.. In trading alt coins, I set bitcoin as the benchmark and the correlation between them was just absolutely spot on! Glad I stumbled upon your comment!!! Thank you!!!!!!
Pucknut4coins
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Just awesome code. many thanks now I just need to train myself to actually follow it.
Do you have any other favorite indicators you use?
Koalafied_3
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Hey mate, came across this script when I was looking for S/R or zoning indicators. From first impressions and subsequent use on my charts it's quite impressive. I do have a question about using an appropriate benchmark tickerid. The default setting of CRYPTOCAP:BTC is of use when trading crypto and altcoins. However moving across to FX what would be the ideal tickerid? Alternatively is there any issue with using the tickerid from the asset you are trading. Say I'm on the US 500, could I use the same ID i.e. OANDA:SPX500USD as the input. Cheers
Deborah_Sbeghen
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Would love ot use it but after I copied and pasted, saved and loaded on chart, the scipt says ok it was compiled, it shows GodMOde on my chart but nothing comes on chart, no level no data... any help please?
Philip1988
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@Deborah_Sbeghen, Try and change the "CRYPTOCAP:BTC" in "ben0 = input("CRYPTOCAP:BTC", "Benchmark", string)" to the "symbol search" that you are using. Did it on my us30 chart and works 100%.
kpiyush114
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@Philip1988, Can't change the symbol automatically while switching through the watchlist, please help!
Dancing_candles
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@Philip1988, can you please tell how to do in us30 chart? thanks. I am using us30 chart of currency.com