Artharjan Momentum and Trend Strength Indicator

3 giorni fa

Hi,

I have developed this indicator in Pine Script V6 called "Artharjan Momentum and Trend Strength Indicator" (AMTSI) that creates a comprehensive market analysis dashboard for Indian stock market indices and their components. Let me break down its main functionalities:

1. Core Purpose:
- Creates a dynamic table display showing multiple technical indicators for stocks within selected Indian market indices
- Allows traders to monitor multiple stocks simultaneously with key technical and momentum indicators
- Helps identify strong trending stocks and potential trading opportunities

2. Key Features:

a) Index Selection:
- Supports multiple Indian market indices including:
- Major indices (NIFTY, BANKNIFTY, etc.)
- Sector-specific indices (IT, Pharma, Auto, etc.)
- Market cap based indices (Midcap, Smallcap)
- Each index contains up to 19-31 component stocks

b) Technical Indicators Calculated:
- RSI (Relative Strength Index)
- TSI (True Strength Index)
- ADX (Average Directional Index)
- Stochastic Oscillator
- Price Change Percentage
- Volume Change Percentage

c) Visualization:
- Creates a color-coded table with:
- Stock names
- Current price
- Price & volume change percentages
- Technical indicator values
- Pattern identification (Bullish/Bearish signals)

d) Customization Options:
- Timeframe selection
- Table position on chart
- Text size
- Sorting preferences (by RSI, TSI, ADX, Stochastics, Price Change, or Volume Change)
- Ascending or descending order
- Indicator parameters (lookback periods, overbought/oversold levels)

3. Special Features:

a) Color Coding:
- Uses different background and text colors to indicate:
- Overbought/Oversold conditions
- Bullish/Bearish patterns
- Trend strength
- Price movement direction

b) Pattern Recognition:
- Identifies specific price patterns like:
- Open = Low (potential bullish)
- Open = High (potential bearish)
- Bullish/Bearish Marubozu

4. Technical Implementation:
- Uses arrays to store and manage data
- Implements sorting algorithms for flexible data presentation
- Utilizes table.new() for creating the visual display
- Employs multiple custom functions for color coding and pattern recognition

This indicator would be particularly useful for:
1. Day traders monitoring multiple stocks simultaneously
2. Sector rotation analysis
3. Identifying strongest/weakest stocks within an index
4. Scanning for technical setups across multiple timeframes
5. Market breadth analysis

The code demonstrates sophisticated use of Pine Script features to create a comprehensive market analysis tool specifically tailored for the Indian stock market, combining multiple technical analysis approaches into a single, easy-to-read dashboard.

Regards
Rrahul Desai
Artharjan

3 giorni fa

Note di rilascio

Implemented some cosmetic changes.

l’altro ieri

Note di rilascio

Included the logic for the Candlestick patterns and added some Thresholds for Price % Change and Volume % Change

l’altro ieri

Note di rilascio

Implemented some bug fixes and cosmetic changes