Coefficient of variation (“COV”) is a statistical measure used to describe the variability of values within a data set, it’s calculated by taking the standard deviation divided by the mean. Traditionally, COV is applied to the expected returns of competing investment portfolios. A risk adverse investor prefers to accept a portfolio with a relatively lower COV...
This script plots the ratio of two symbols to show the relative strength between in order to determine which is the stronger security
This indicator shows when user set sessions are active and returns various tools + metrics using the closing price within active sessions as an input. Users have the option to change up to 4 session times. The indicator will increasingly lack accuracy when the chart timeframe is higher than 1 hour. Settings Sessions Enable Session: Allows to enable or...
IMMEDIATE TREND - VULNERABLE_HUMAN_X This indicator is used to identify the immediate trend in the market. When a Short Term High (STH) is engulfed and closed above, we consider that as a bullish trend. And Similarly, when a Short Term Low (STL) is engulfed and closed below, we consider that as a bullish trend. STH - A candle that is higher than the one...
Hello everyone, This Script is designed to show relative strength or relative weakness. It takes the stock your looking at and compares it to the sector it is in and to SPY. It evaluates strength or weakness on every candle. In this specific script it is only designed for the communications sector(XLC), so all the names I have inputted into the script fall...
Auto Levels is a Work in progress. It is based on the previous days ATR and the current days opening tick. It takes that info and uses Fibonacci to automatically draw key levels for the day. I have added the BULL BAR ( Green bar ) and Bear Bar ( Red Bar ) to signal as a Go Long / Go Short line in the sand. The Tan bars are also proven key "Take Profit" levels....
This indicator is a trend filter based on fibonacci retracement levels How to read: - There are three filled zones --> red, yellow and green - If the price is inside of red zone, there is a downtrend on the market - If the price is inside the yellow zone, there is a sideways trend on the market - If the price is inside the green zone, there is a uptrend on the...
The Gann Spiral, more commonly known as the Square of 9 is one of the most well known tools that Gann used. Today, it is most commonly used to find possible support and resistance levels, and possible reversals in time. This indicator is a more flexible version of the traditional Gann Spiral / Square. This is achieved by allowing you to change: Price and...
I took the formula of the fibonacci from LonesomeTheBlue and made this script. You can take a look at his indicator here: When you first add the indicator on the chart, click on the chart to select the first date and then the second date. It will then calculate the fibonacci support and resistance of the range you choose. You can also choose the date inside the...
A trading range which is formed during the first three trading day of any month sets an important "Month Opening Range". The lowest price made during the first three trading days can be considered the Monthly Support level (see the green line drawn by the indicator). The highest price made during the first three trading days can be considered the Monthly...
This indicator uses bands to show the trend of other bands. The middle bands are used to show the price trend and the other bands are for the middle bands. The Spike and Plunge bands can also act as a sort of "Bollinger Bands" for middle bands, though not exactly. ----- HOW TO USE IT ----- Zoom out in the 30 minute chart. Use 15 minute chart to pinpoint your...
How do I use it? Never use this indicator as standalone trading signal, it should be used as confluence. When the price is above the moving average this shows the bullish trend is strong. When the price is below the moving average this shows the bearish trend is strong. When the moving average is purple, the trend is bullish, when it is gray, the trend is...
This indicator plots out the time periods and open lines as outlined in ICT's 2022 Mentorship and is designed specifically for the New York futures trading session. Time zone is set to GMT-4 (NY) by default but can be changed for accommodate daylight saving in the menu. Please note this indicator is to be used only on the 30min timeframe and below. Here are its...
This indicator gives a visual representation of Dow Theory Price action based trend analysis and provides trader a table with 4 different timeframe to align with the trend. It will help traders identify if it is an ongoing Impulse Wave or a Corrective Wave. 3 rules for Bullish Price Action setup (Uptrend or continuation of existing UpTrend): Denoted by 'U' below...
Usage: This indicator allows you to note on your desired pair what is the current state of the trends. !! How to use: You have to input the values for each table case to your desire in the indicator settings. !! With this indicator you can note : -what is the timeframe Bias -which supply or demand we`ve just hit I use this as a tool for my analysis with...
RSItrend is a trend indicator based on the standard RSI. The logic of building the indicator: We build a channel based on the RSI extremes. The exit of the RSI from the channel up is the beginning of the uptrend, the exit of the RSI from the channel down is the beginning of the downtrend. In the downtrend, the candles are colored blue, in the uptrend -...
Time Zone / Market Sessions indicator is a handy tool to display current major Market Open / Close condition along with present time at that Exchange. Sydney, Tokyo, London, New York market sessions are included. Clear display of Overlap Zones and Kill Zones.. Can be used to estimate market Pumping and Dumping. Alerts can be set when a market opens. Time is...
The Market Meanness Index was created by Johann Christian Lotter and I added some smoothing of my own, so feel free to try it without any smoothing to see the differences. This indicator relies on the mean reversion theory that all prices will eventually revert to the mean over a long period of time. Obviously there is more to the theory but the basic idea is if...