The Volatility Switch (VOLSWITCH) indicator, by Ron McEwan, estimates current volatility in respect to historical data, thus indicating whether the market is trending or in mean reversion mode. Range is normalized to 0 - 1.
When Volatility Switch rises above the 0.5 level, volatility in the market is increasing, thus the price action can be expected to become...
One more to add to the Ehlers collection.
Ehlers Instantaneous Trendline, by John Ehlers, identifies the market trend by doing removing cycle component. I think, this simplicity is what makes it attractive :) To understand Ehlers's thought process behind this, refer to the PDF linked below.
There are atleast 6 variations of this ITrend. This version is from...
These 2 indicators are derivative work from Jim Hurst's book - "The Magic of Stock Transaction Timing".
The bands are % bands around a median that gets calculated according to Hurst's formula. The outer bands (called ExtremeBands) signify extreme overbought/oversold conditions. Inner bands signify potential pullback points. As you can see, they also act as...
--- Update April 11, 2015 ----
I have merged in @TheMighyChicken's code (Thanks!) and added some more options. Updated source here - pastebin.com
- Switch between plain candles and colored oscillator candles.
- Switch between candles and plain oscillator view.
The slow relative strength index (SRSI) indicator created by Vitali Apirine is a momentum price oscillator similar to RSI in its application and interpretation. Oscillating between 0 and 100, it generates both OB/OS signals and midline (50) cross over signals and divergences.
As author suggests, bullish/bearish divergences generated by SRSI are not as effective...
This is a modified version of a public Amibroker indicator, called Firefly.
I disabled the additional smoothing (you can enable it via options page) and updated the visual rendering (simple 3D look, histo, bar colors et al). Also, have added an option to show enclosing BB.
You can trade this like any other oscillator -- 80/20 OB/OS levels, divergences,...
The Cyber Cycle Indicator, developed by John Ehlers, is used for isolating the cycle component of the market from its trend counterpart. Unlike other oscillators like RSI, Cyber Cycle Indicator's wave has a variable amplitude.
Use the osc/signal crossover for entry/exit points. You can enable highlighting the crossovers by using region fills (via options page). I...
Developed by Sherman and Marian McClellan, the McClellan Oscillator is a breadth indicator derived from Net Advances, the number of advancing issues less the number of declining issues. Subtracting the 39-day exponential moving average of Net Advances from the 19-day exponential moving average of Net Advances forms the oscillator.
As the formula reveals, the...
The Acceleration Band System was published in "Big Trends in Trading" by Price Headley in 2002. The system designed to catch stocks as they start to trend but before they go parabolic. The system is simple but supposed to be very effective.
This system makes use of %R and ADX a lot to determine the entries/exits. Refer to the documents listed below for the...
Better Volume Indicator
This is a direct port of a famous indicator from Tradestation platform.
BVI improves on your typical volume histogram by coloring the bars based on 5 criteria:
* Volume Climax Up – high volume, high range, up bars (red)
* Volume Climax Down – high volume, high range, down bars (white)
Suggested by John Ehlers, IFT helps you to determine the exact oversold/overbought points in any oscillator-type indicators.
The 3 IFT based indicators in this chart are:
- Inverse Fisher on RSI (IFTRSI)
- Inverse Fisher on MFI (IFTMFI)
- Inverse Fisher on CyberCycle (IFTCC)
Suggested method to use any IFT indicator is to buy when the indicator crosses over...
According to Elder, "The Impulse System encourages you to enter a trade cautiously but exit fast, by identifying inflection points where a trend speeds up or slows down. This is the professional approach to trading, the total opposite of the amateur's style. Beginners jump into trades without thinking too much and take forever to get out, hoping and waiting for...
As we all know, as published by Wilder, RSI makes use of "CLOSE" values. You probably have experimented changing the input to hl2 or hlc3 . I have included many other RSI variations in this chart. Refer to the developers section below to learn how you can use this code in your scripts.
1) RSI with Volume
---- May 05 2015 -----
Added support for filtered ranges:
RID V3 : pastebin.com
RIDv3 has full backward compatibility (!?), meaning all my descriptions below still apply for V3.
-- In addition, I have added a NON-OVERLAY mode, which can be put in its own pane, that shows the number of bars in the current range.
-- in Overlay mode, you can...
HawkEye volume, developed by Nigel Hawks, is supposed to be a premier VSA indicator. Documentation on this is scarce (looks like the training seminars/sessions conducted by the parent company cover this in detail), if you come across any (other than what I have mentioned on that chart) do let me know.
I am not sure how much this resembles the commercial...
This is a port of a famous MT4 indicator, as requested by user @maximus71. This indicator uses MACD/BB to track trend direction and strength. Author suggests using this indicator on 30mins.
Explanation from the indicator developer:
"Various components of the indicator are:
Dead Zone Line: Works as a filter for weak signals. Do not trade when the red or green...
Relative Volume Indicator
RVI is a support-resistance technical indicator developed by Melvin E. Dickover. Unlike many conventional support and resistance indicators, the Relative Volume Indicator takes into account price-volume behavior in order to detect the supply and demand pools. These pools are marked by "Defended Price...