The Arms index (TRIN) is a technical analysis indicator that compares advancing and declining stock issues and trading volume as an indicator of overall market sentiment. It measures the relationship between market supply and demand and is used as a predictor of future price movements in the market, primarily on an intraday basis. The Arms index seeks to provide a more dynamic explanation of overall movements in the composite value of stock exchanges, such as the NYSE or NASDAQ, by analyzing the strength and breadth of these movements.
You can change long to short in the Input Settings Please, use it only for learning or paper trading. Do not for real trading.
excellent script for earning money!! add turbo ...
txnemo
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@HPotter thank you for such an interesting script, Mr. Potter. Could you give some intuition regarding the resolution. Let's say I am using a 1 minute chart of SPY, but with a resolution in your settings of 1 day. Intuitively, could you discuss a little what this would mean on an intuitive level?
HPotter
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@txnemo, I just make many variation of parameters while I get a good values.