FiveFactorEdge

30 mar

Uses ATR14, TSI, RSI, Fast Stochastic and Slow Stochastic information to determine potential high and low price, trend strength and direction. The information ia easy to read, self-descriptive and color coded for quick reference. Since it incorporates 5 different elements it could be used by itself but as with any indicator it's highly recommended to use it with other tried and true indicators.

30 mar

Note di rilascio

I'm just updating the description in attempt to be compliant with the house rules,
This script ues ATR14, TSI, RSI, Fast Stochastic and Slow Stochastic information to determine potential high and low price, trend strength and direction. The information ia easy to read, self-descriptive and color coded for quick reference. Since it incorporates 5 different elements it could be used by itself but as with any indicator it's highly recommended to use it with other tried and true indicators.

The first row of information (Always in white text) displays to ATR14 High and Low values to give the user an idea of how high or how low the price of the stock could go based on the ART14.

The second row is a color-coded sentiment summary. It uses a weighted average of the stochastic, tsi and rsi values and determines if the stock price is Bullish or Bearish overall.

The third row displays the RSI and TSI values. Each value for these are individually color-coded. The advantage is that the color combination of the two can give the user an idea of the price is bullish or bearish. If both are green the price action is bullish. If both are red the price action is bearish. If both are yellow the price action is fairly neutral. Combinations of colors can give the user an idea of how strong the price action trend might be. For example, if the RSI is green and the TSI is yellow the trend might be weaker. If one is green and one is red the price might be turning downward.

The fourth and fifth rows are Fast and Slow Stochastic Oscillators. These are also color coded with %K and %D values. When %K > %D the trend is bullish. When %K < %D the trend is bearish.

I like to use this indicator to help me determine stop loss and take profit points as well as enter and exit points. This indicator doesn't directly monitor volume or lines of support and resistance to it's a good idea to keep an eye on those separately.

3 apr

Note di rilascio

The only thing this update does is add a digit after the decimal point for the ATR14 High / Low values. For trading penny stocks another digit is much needed. I wonder if I should add two digits? I have more improvements coming so if you think there should be a 4th digit after the decimal let me know.

3 apr

Note di rilascio

I just went ahead and added the 4th digit after the decimal to the ATR14 High / Low values.

3 apr

Note di rilascio

Chart with 4 digit ATR14 High / Low values.

3 apr

Note di rilascio

Chart with 4 digit ATR14 High / Low values.

3 apr

Note di rilascio

I made another addition. Now the first column in the second row displays the percent difference between the ATR14 high and low values that are displayed in the first row second column.

The second column in the second row still displays the overall weighted sentiment as before.

3 apr

Note di rilascio

Fixed the % difference calculation and rearranged the table. Row 2 column 2 is still overall sentiment. The rest are self explanatory.

3 apr

Note di rilascio

Corrected version

3 apr

Note di rilascio

Removed square brackets from % Dif value

4 apr

Note di rilascio

Updates to clean up the table and added user defined parameters. You can now change the parameter settings.

Eliminated the redundant "Bullish" "Bearish" text for SSO and FSO but left the color coding the same for quick reference to Bullish or Bearish.
Moved the SSO value up one row to the right of FSO

4 apr

Note di rilascio

Update version number (and chart picture)

4 apr

Note di rilascio

Added current price and volume for quicker viewing.

4 apr

Note di rilascio

The Cur Price and Volume table cells are color coded for quick reference of rising or falling values.

4 apr

Note di rilascio

I had to temporarily remove the Cur Price and Volume displays because they weren't accurate. I will add them back when I get them recoded.

4 apr

Note di rilascio

FIxed the current price and volume cells.

7 apr

Note di rilascio

I'm trying to make this as useful as possible while trying to keep it somewhat streamlined. I'm also aiming for quick view reference along with providing technical data.

Changes in this version
Added MACD to the equation. The "Trend" value is based on weighted values of TSI, RSI, FSO, SSO and now MACD. I'm working on a better algorithm for this calculation but it's been pretty accurate so far. Hopefully the addition of the MACD will make it even better but I'm not exactly sure how to weigh it into the equation.

Added the ability to show or hide the columns of information. I attempted to arrange them so the technical data values are in one column while the color coded text based signals are in the other column. You can choose to view one or the other or both columns from the settings visibility checkboxes.

I changed the layout (arrangement) of the table. I wanted to display the MACD / Signal Line values but that was a lot to display in one cell so I used color coded text display M/S: value (Bullish, Bearish, Neutral) I added "Trend" to what I originally called the sentiment cell that had been displaying only the color coded text (Bullish, Bearish, Neutral). That is the overall trend that is based on the weighted values of TSI, RSI, FSO, SSO, MACD

I rearranged the cells so that the ATR14 High | Low values are under the label, which makes it more relatable. The percent difference between the ATR14 High and Low is displayed below that.

Another new addition is the Relative Volume value. It's written to be the difference between the current volume and the 3-month average volume. I realize there are different opinions on what should be considered Relative Volume so I wanted to clarify what am trying to do here.

7 apr

Note di rilascio

Updated Avg Vol to capture 3-month avg at open so it's not jumping around so much.

7 apr

Note di rilascio

Use alone or with other indicators

17 ore fa

Note di rilascio

Latest changes - Added ADX for trend strength information. ADX is not included in the sentiment/Trend valuation,
Changed the layout slightly for visual enhancement while keeping quick view information. I added a center column to display the sentiment valuation which is represented by color and labeled as TREND (vertically) Red cell background for Bearish, Yellow for Neutral and Green for Bullish.
If you look at the code, you will see stuff that seems unnecessary. At the moment it is unnecessary, but it's intended to use for future updates.