Plot price scaled by the RSI. Also, plot high and low of the scaled price so that the trend is visible as well as sell-high/buy-low points...
Before the prices change direction, RSI generally makes a double top/bottom... Or a lower high/higher low.
This is more emphasized on the scaled price. You can see the high/low band change direction
A simple scalping indicator, based on Highs and Lows.
It's working in any timeframe, the only condition is ... volatility .
Values are already set, but you can change them according to your preferences and to your chart.
Alerts are enabled.
Good day Traders,
Here is an indicator that I designed that is my version of the head and shoulders pattern. If you like it add it to your chart and see if it works for you.
The white trend lines are there to indicate to you how it more or less works. The green/red line is when the patter has been formed. I struggle to make it an area. If you know how please let...
If you trade Forex this is the indicator you need above all. Most recent six highs and lows on the daily, weekly, and monthly (includes current day). Support and resistance isn't quite what it is...until when that's exactly how it often plays out on the lines. They are called bank levels for a reason. *Not every line will support or resist of course*
This script shows a high and low period value.
SelectPeriod - Day or Week or Month and etc.
LookBackPeriods - Shift levels 0 - current period, 1 - previous and etc.
- This script to change bars colors
This indicator was originally developed by Curtis McKallip Jr. (Stocks & Commodities, V.10:7 (296-299): "The Damping Index").
It indentifies bars where the highs and lows are getting close and closer. A high Damping Index value means that the difference between the high price and low price is becoming lower and the security price is reaching equilibrium. A low...
Apologies, there was an error in printing for the thick gray boxes, happened when MTF was switched on. All better, and here is the details from before:
This is an interesting study that can be used as a tool for determining trend direction, and also could be a trailing stop setter. I use it as a gauge on MTF settings. If on, you can look at the bar cycle of the...
This is an interesting study that can be used as a tool for determining trend direction, and also could be a trailing stop setter. I use it as a gauge on MTF settings, in the pic MTF is turned off. If on, you can look at the bar cycle of the 1h while on the 15m giving you a lot of information in one tool. If a line is missing high or low, it is because it was...
Indicator gives the High-Low range of 18 currency pairs. There is a High Ave which is the average of the top four (you may need to adjust which ones are in the average) as well as the bottom four Low Ave. The picture is of a weekly chart with the indicator set at 12 week average of the High-Low range with a .7 (70%) multiplier. When I am looking for week long...
Trend Channel based on Relative strength Index
-Works on any Market Type on any Timeframe
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parabolic SAR /w HighLow Trends Indicator/Bar-color-marking + Dynamic Fib Retrace and Extension Level
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In no way is this intended as a financial/investment/trading advice. You are responsible for your own investment decisions and trades.
Please exercise your own judgement...
This script is a remake from other's devs scripts.
The * makes a signal if there is a higher high or lower low, RED(I don't know why looks orange)/LIME for WEEKLY and AQUA/YELLOW for a 36 hs WINDOW.
You can change this parameter as u wish.
The bar counter is simple.
Let me know ur feedback.