MM Legend V2The MM Legend V2 is a two in one oscillator.
The Rsi BB is the Rsi with BB volatility band with Demarker Ma for strong trend analysis.
up/dn signals tell you the trend direction
oversold/over bought levels
candle mode for the rsi band
blue/red back ground color to help identify the trend
How to Use
when the background is red, you have down signal, Demarker and rsi are at red level of BB band =sell
when the background is blue, you have up signal, Demarker and rsi are at blue level of BB band =buy
The second oscillator built in is the Tilson T3 and Demarker cross
The Denmark technical indicator, also known as DeM, measures the demand for an asset by comparing the most recent high and low prices to the previous high and low prices. This will give the general directional bias of the market.
the preferred Demarker setting is to use a parameter value of 18-24 periods. We also like to tweak the overbought and oversold levels and instead of using the classical 0.7 and respectively 0.3.
The classic De Maker comes with line graphs, to improve the price vision we have made this beautiful indicator in a candle version.
We have added a tilson T3 moving average to better target the inputs.
What is the Tilson T3
The Tillson moving average a.k.a. the Tillson T3 indicator is one of the smoothest moving averages and is both composite and adaptive. The average is built using the EMA however, the formula is decomposed in order to improve smoothing.
The demarker indicator indicates to us overbought and oversold of the asset, you will be able to distinguish these signals when the marker is painted green for overbought, red for oversold, you will also see a background with these colors to better identify these areas.
Demarker by default comes inline format, you just have to press demarker in candle mode idem for the moving average of t3 and you can see it as it is seen on the chart.
Recommendation for a better view in candle mode, once you press that you want to see demarker in candle mode, go to the style window and destilde wick and borders of each demarker and T3.
How to use?
BUY: When demarking an oversold signal, and the oscillator is above the moving average, buy, you will also see the aqua background.
Sell: when the demarker is overbought and the oscillator is placed or below the T3 moving average sell, you will also see the orange background.
Link below or PM us for access you this indicator Happy Trading
Cerca negli script per "demark"
Power Oscillator by Atilla YurtsevenThis is the oscillator i have developed to find out the strength of the trends and the end of the pullbacks or the trends. Of course this is not the only way. Still needs more confirmations. You can chose RSI, Momentum, Price or DeMarker as Oscillator type.
Price type is one of the models i have developed. The others are calculated using RSI, Momentum and DeMarker.
Please remember to share your strategies, thoughts using Power oscillator and add some comments.
Disclaimer: This is not a financial advice. Shared for educational purposes only!
Happy trading
Atilla Yurtseven
[FTA] Curvature of MeniscusIntroduction:
Curvature of Meniscus is a hybrid indicator comprised of three parts:
1. The first part is a heavily modified Demarker RSI which is represented as the histogram and is the main trend indicator C1 .
2. The second part is the 0 line which is replaced by the Waddah Attar Explosion V2 indicator C2 .
3. The third part is the background color which is borrowed from the Klinger Safety Zones volume indicator Vol .
It is smooth and has almost zero lag.
The signals can be used as per nnfx C1-C2-Vol algorithm.
The DeMarker indicator is relatively unknown to trading beginners but enjoys huge support from the more experienced traders. The indicator measures the strength of a trend and thus can give you a warning when a change in the trend direction might occur. This can not only help you to find new trade entries but also prevent you from entering into losing trades or letting your open trades run and ultimately result in a loss.
The line of the indicator is calculated as follows: First the indicator finds the minimal and the maximal value of the specified period. Afterwards those values are used to calculate the moving average of these values which then is displayed in the chart. Just like most oscillators the DeMarker indicator uses oversold and overbought zones at 0.3 and 0.7 to define good entry opportunities.
The "Curvature of Meniscus" indicator has the DeMarker indicator/RSI modified in three different ways:
1. Smoothed and almost no-lagged;
2. Colored histogram to determine the trend and the divergences;
3. An early signal line for those who like to take counter-trend trades/reversal entries.
Play with the settings and let me know what you think about this new hybrid!
Klinger Volume Oscillator (KVO) v2I took /u/HarryPotter's interpretation of the Klinger Volume Oscillator, modified a few values in its calculation (as you can see the scale is much much smaller than in /u/harrypotter's version; I also performed an inverse fisher transform on it, and added some signal coloring.
I use this on pretty low time frames (3-5-15 min) with a demarker(13) for confirmation (I also published on TV so check for that one too) :)
lime is strong bullish, green is weak bullish, red is strong bearish, maroon is weak bearish
it does repaint a little, but i usually look for signals that match with the demarker like when both cross over the midline in the corresponding direction for confirmation.
ALPHA: ExhaustionPLEASE READ THE ENTIRE POST BEFORE USING THE ALPHA EXHAUSTION INDICATOR
Capital Exhaustion Cycles
What is capital exhaustion? To explain it simply: Picture you are working out and eventually hit fatigue, at that point your body signals that you can no longer proceed and need to rest. Capital exhaustion with tradable assets (stocks, cryptocurrencies, etc.) occurs the same way. At some point, the market collectively becomes fatigued. Unable to push an asset a certain direction (can be bullish or bearish) the market reverses the direction of the trending price which results in a correction. This is natural & how markets need to work to keep an equilibrium true to the assets value. Being able to measure this in your analysis can be extremely valuable in deciding where to base your trades.
There are some indicators out there such as the TD Sequential (created by Tom Demark) that attempt to measure the exhaustion rate and identify potential capital shifts. I began to use the TD Sequential around 2012 when a colleague of mine sent me an article from Bloomberg on this theory used to measure exhaustion. The theory goes like this: If a candle within a trend is higher (or lower in the case of a bear trend) than the fourth candle back then the trend continues. By Tom Demark's theory the ninth candle is typically where the trend reverses and one must watch for a potential entry on a capital shift. There is a few factors that go into trading the TD Sequential (in addition to other elements he created for measuring such) that we wont get into, I'll explain why....
After using the TD for some years now I have found the reliability and use of it for analysis to be semi-flawed. Yes, there is trend reversals at some of the parameters Tom Demark outlined, but overall I have found the sequential part of it to not only be difficult to use, but also inaccurate to an extent that makes me uncomfortable when factoring it into my analysis. Yes, there are many successful traders that have used the TD in their analysis and have had great success with it. However, I feel the theory behind it can be improved and the visuals of it can be altered to be more user friendly.
This put me on a search for a more reliable and facile method to measure capital exhaustion. There is nothing perfect with Technical Analysis, if there was, one could theoretically own the entire market over time, so I approached this task with that in mind. As I begin to explain my ALPHA: Exhaustion indicator keep this in mind: Nothing can be perfected when it comes to measuring the predictability of human psychology and markets. However, I believe I have found a way to measure capital exhaustion in a clean, accurate, and easy to understand method. Applying this indicator to an analysis can greatly improve the accuracy, reliability and speed of an analyst. I've also added some really neat "safety precautions" to the indicator to indicate when an already confirmed trend is showing weakness (such as chop) or a premature reversal.
That being said, I introduce to you a new series of indicators created in my digital moon lab with a team of analysts: ALPHA
The ALPHA series will launch with this indicator first. From here I will be introducing a whole series of improved indicators to add to your analysis techniques. Bigger shake ups coming soon in the world of volume and strength oscillators. ;)
Introduction
My approach with the ALPHA: Exhaustion is simple, color the candles on a gradient scale based on my exhaustion method for an analyst to easily identify the rate of exhaustion. Additionally, add simple features that help confirm whether a trend has a confirmed beginning and ending. Furthermore I took it a step further and added features that detect weakness in a confirmed trend and give you early indications that the trend may reverse or cancel .
Keeping the advanced analyst in mind I also added options to identify unconfirmed trend beginnings and aggressive endings. These parameters are loose and designed for the analyst who has the comfort of being an aggressive trader. I will get into those options last as they are extremely speculative. The default options on the indicator are designed to show confirmed trends. As you play with this indicator you will discover that many times a wild swing has happened but the indicator was unable to identify it. The reason being is it is meant to identify CONFIRMED trends & be used with other indicators during an analysis, not just used for signals or independently of other analysis tools.
There are many factors that go into an assets price movement, exhaustion, volume, strength, momentum and more, it is unreasonable to think that one should base their analysis off of one of those factors alone. Technical analysis is like a puzzle, you have many puzzle pieces and its impossible to see the entire picture of the puzzle until you fit all those pieces together.
Candle Coloring
Seen below we have a clear trend beginning, the candles begin their normal color of green, as the trend continues the gradient of the white becomes brighter indicating exhaustion.
As the trend continues the indicator identifies that the market is exhausting and colors the candles a brighter white. (see below)
Eventually once the trend exhausts the indicator identifies & confirms the exhaustion and reverts back the coloring in real time as price adjusts. But wait there is more!
Safety Symbols
There is an option to turn the safety symbols off and on as can be seen in this link below:
imgur.com
This option does two things. The first is it adds half crescents to the top or bottom of a trend like the image below.
These half crescents indicate that the trend is beyond normal exhaustion parameters but is still continuing. At this point, this is where I pay attention and watch for the crescents to disappear. When the crescents disappear the candle coloring will change back to normal indicating that trend has confirmed as exhausted. It is entirely possible to have one or two candles of chop and then it continues but generally it has meant exhaustion criteria. One feature I have added is once the crescents disappear the indicator watches for a confirmed trend reversal to begin and will paint an arrow showing the trend reversal confirmation. We will get into that later though.
The second feature of the safety symbols is the risk line. The option also enables the risk line of the prior trends top. (See image below)
If a trader were to find entries of a confirmed trend based on the indicator painting the confirmed trend arrow (will explain further down) then one could place their stop loss there, but proper analysis should be done and decided upon by the user . (Keep in mind this is an indicator for analysis, not a signal generating system, please be sure to read the disclosures on my website www.thetradingwizard.com and also the disclosure at the end of this post)
Confirmed Trend
By default the indicator paints a pink (for downtrend confirmation) or blue (uptrend) arrow on a confirmed trend reversal after exhaustion of a prior trend.
The arrow paints in real time as the criteria is met of an exhausted trend on the third candle. Once the prior trend is exhausted (can happen with or without the crescent safety (or pay attention) symbols. The design of it can sometimes be late in an assets movement, but its meant to be a confirmed trend at that point.
Trend End
Additionally, after a confirmed trend beginning the indicator watches for weakness or a trend ending criteria match. When it identifies such, the indicator paints a pink or blue (depending on the direction) stop sign.
These trend endings can come in two forms, the indicator has realized trend exhaustion has occurred and is going to reverse very near, or it has identified weakness in capital exhaustion and paints the symbol to let you know the trend is either going to reverse, or chop. (sideways with no clear trend) Below is examples of when the indicator identified the weakness early in real time after a trend start confirmation.
As can be seen above the indicator confirmed an uptrend and then later identified weakness in the trend indicating an early termination before the risk line was hit. It is typically early (by design) but there is an option for a more aggressive trend ending. This has less confirmation protocols built in when enabled, I will explain that in the next section.
Aggressive Trend End
Seen in the link here is the Aggressive trend end option:
imgur.com
This option loosens the rules & parameters for a trend ending and gives a more aggressive view of a trend end. This is for aggressive analysts that would like a less confirmed trend ending.
Aggressive Unconfirmed Trend
Another option that can be enabled is Aggressive Trend arrows. In order to use this you must enable Aggressive Trend Ending:
imgur.com
What this option does is identify in real time early trends that are unconfirmed . You will get a lot of arrows painted with this option enabled but it is designed for analysts who take a more aggressive & unconfirmed approach to trading.
Conclusion
I wanted to create a more accurate and easy to use indicator for identifying exhaustion cycles, I believe this does so. That being said, it is extremely important to note as I did in the intro that this is an analysis tool, simply a piece to add to your analysis arsenal. Never rely on one piece of information for analysis as technical analysis is a complex art that requires many data inputs. This indicator can be used on all time frames with all tradable assets.
This indicator is available for TradingView users on my web site www.thetradingwizard.com for $99, that includes a life time subscription. Everybody that uses this indicator will get a private group class with it that I will schedule sometime next week (3/4/19-3/8/19) to explain various methods this can be used with analysis and answer any questions the users may have. If you purchase after those dates I will still send the class recording. Additionally I will be doing a public stream on my YouTube either tonight or tomorrow introducing this. Enjoy and trade safe!
www.thetradingwizard.com
Disclaimer
Nothing in this post is to be used or construed as financial advice. The indicator is not a signal generating indicator and should not be used to trade off of solely. This post is meant as an educational post to explain the functions of the indicator.
TI Indicators*This is a private script for Personal Use. To avoid any Trade Mark violations, the official math rules have been slightly optimized & name changed.
The Time Indicator (TI) or Random Number Generator (R N G) gets its inspiration from the classic and trademarked work of Tom Demark & the Sequential System of Larry Williams (with one of the biggest differences being the elimination of the "Price Flip" being a necessary condition to start a "Setup"). You should be very familiar with traditional trading techniques & Tom DeMark's indicators in order to understand how to use this in your trading. Here is a very good presentation on it from Bloomberg as part of their Market Essentials Trading Education Series.
There is no single public source of information to explain everything in this code and even the book about Tom DeMark indicators does not talk about things like 'intersection' so you might need to start googling each concept independently. You will also need to learn how to interpret the code because the arrows DO NOT necessarily mean to blindly act on a trade.
Due to a recent Update to TradingViews Publish Script Section, I am not able to post any external images explaining all the Optional & Customization Features of this Script nor am I able to post an image explaining the embedded Alert features. THIS REALLY REALLY SUCKS as I wanted to use this for my Release Notes. Sorry guys
What I am able to do is explain a limitation on the script which unfortunately cannot be fixed at this time due to limitations of pine code:
"There is an issue pertaining to queued and deferred counts for Sequential, Aggressive and Combo completing out of order which will result in the wrong Countdown number being registered. If the current printed Countdown number, and the successive (nonprinted) queued Countdown are being deferred, and a third-level or higher (nonprinted) queued Countdown completes to a 13 count prior to the completion of the other preceding counts, the script will not register this queued 13 count on the chart, nor will its history be properly recorded. When the prior counts have completed, the completed count will begin from Countdown number 1, not taking into account the candle history since its respective Setup 9 was reached. This issue is most likely to occur on the Combo, where steep price movement followed by a pullback can lead to Combo counts being deferred for long periods without setting a "close lower/higher than the prior Countdown close". This issue is also present, although to less likely, in long deferred Sequential 13 Countdowns, and only applicable to Aggressive counts when the deferred checkbox is enabled in the settings. This Situation is incredibly rare and very unlikely to occur "
Time Indicator*This is a private script for Personal Use. To avoid any Trade Mark violations, the official math rules have been slightly optimized & name changed.
The Time Indicator gets its inspiration from the classic and trademarked work of Tom Demark (with one of the biggest differences being the elimination of the "Price Flip" being a necessary condition to start a "Setup"). The Indicator only displays values on the most recent 13 candles unless unless the count has something critically like 9. You should be very familiar with traditional trading techniques & the Tom DeMark's indicators in order to follow this one & also understand how it is different. Here is a very good presentation on it as part of Bloomberg's Market Essentials Trading Education Series .
The Chart below displays the features of the Indicator, but it is still a work in progress, additional features will be added soon in future updates.
TI - Backtest*This is a private script for Personal Use. To avoid any Trade Mark violations, the official math rules have been slightly optimized & name changed.
The Time Indicator - Backtest gets its inspiration from the classic and trademarked work of Tom Demark (with one of the biggest differences being the elimination of the "Price Flip" being a necessary condition to start a "Setup"). The word 'backtest' means that this indicator is displaying a count on every single candle and is ideal for backtesting strategies vs the regular Time Indicator that is only displaying numbers on recent candles. You should be very familiar with traditional trading techniques & the Tom DeMark's indicators in order to follow this one & also understand how it is different. Here is a very good presentation on it as part of Bloomberg's Market Essentials Trading Education Series .
The Chart below displays the features of the Indicator, but it is still a work in progress, additional features will be added soon in future updates.
NLX Trading Bot Framework (+Trend Score & QQE)- Demo of my NLX Modular Trading Framework -
It includes all the common indicators and creates a positive or negative score, which can be used with my Modular Trading Framework and linked to an entry/exit indicator to filter out buy/sell signals if the trend is not favorable.
Combination of:
SuperTrend
VWAP Bands
Relative Strength Index ( RSI )
Commodity Channel Index ( CCI )
William Percent Range (WPR)
Directional Movement Index (DMI)
Elder Force Index ( EFI )
Momentum
Demarker
Parabolic SAR
- Getting Started -
1. Add this Trend Index to your Chart
2. Add one of my Indicator Modules to your Chart, such as the QQE++ Indicator
3. In the QQE Indicator Settings combine it with the Trend Index (and choose L1 Type)
4. Optional: Add the Noise Filter, and in the Noise Filter Settings you select the QQE Indicator as combination (and choose L2 for Type)
5. Add the Backtest Module to your Chart
6. Select the Noise Filter in the Backtest Settings
- Access -
Only as part of the NLX Framework - see my signature below for more info.
ETS Trend Early Cross ArrowsThis indicator is an updated version and alternative to the ETS Trending Arrows indicator that contains the results of years of trial and error to create an indicator aiming to mimic market entry points that a professional trader would take.
It has arrows to clearly show potential market entry points, and suggested stop-loss levels. This particular updated version of the Trending Arrows indicator responds faster to market direction changes, even before the main trend starts to change.
To use this indicator in the best way, with the best entry point, wait for the market to return close to, or touch, one of the moving averages. The larger the moving average, the better, and then enter in the direction indicated by the arrow. The arrow will not repaint once the bar closes, so use the initial arrow's appearance to prepare yourself to enter a trade, and then wait for your perfect entry that is close to a moving average or support/resistance level.
What Makes It So Powerful?
- Give you a signal as early as possible and does not "repaint" once the bar completes
- Reacts to fast market direction changes like a master trader
- Is super easy to understand and implement in your trading
- Can be used for Forex, Stocks and Crypto
- Works on all timeframes
How To Use The ETS Trend Early Cross Arrows (ETS TrendEX Arrows) Indicator
1. Add the indicator to any chart you wish to trade, Crypto, Forex or Stocks and set it to the timeframe you prefer. For instance, I use it on 1 minute and 5 minute charts for daytrading Stocks. For Forex I generally use a 15 minute chart, and longer timeframes for Crypto.
2. Open the Settings. Generally you should not need to change anything:
2.1. "Show 20, 50, 200 Moving Averages" - This is just a convenience, and is provided to help you identify where the market is trading in relation to the trend.
2.2. "Show Small Expo Moving Average" - Also provided for convenience, and goes with "SMAX" - Simple Moving Average - and the "EMAX" - Exponential Moving Average settings
2.3. "Show Potential Reversal Points" - You will notice small X indicators that appear when it's detected that the market might soon be reversing or at least halting and going sideways. A small red X at the bottom of a candle indicates that the market might not be moving further down much, warning you against taking a short position. While a small green X above a candle indicates that the market may be exhausted and soon reverse or at least stall. When the market eventually goes past the highs and lows indicated by these levels, the market often continues on its previous trend.
2.4. "Delength" - The length setting for the DeMarker indicator that's used internally.
2.5. "KC Length" - the Keltner Channel length setting.
2.6. "KC Multiplier" - the Keltner Channel multiplier setting.
2.7. "KC Source" - the Keltner Channel source setting.
2.8. "KC Exponential" - the Keltner Channel exponential or simple setting.
3. Now that you've set things up, all you need to do is to wait for a signal. Pay attention to where the market currently is in relation to the closest moving average, like the 10 SMA or 12 EMA . Keep in mind that price will often signal a new move, but then first move back to the average, before continuing in the new direction identified by the trading arrow.
4. Larger arrows are signals that go with the shorter term trend, and smaller arrows indicate a potential change in the market direction that is not yet in line with the shorter term trend. Typically it should be best to enter using the larger arrows, and be cautious, or exit a trade, that is counter to the smaller arrows.
5. These signals are intended to identify new trending moves, and for that reason, if the market moves against the signal, you should not hold on to your position hoping that it will turn in your favor.
6. When the market is moving in your favor, resist the urge to exit quickly, and use the smaller moving averages or support/resistance levels to exit your trades.
This is an "invite only" script, which means that you will need to let me know that you're interested in it before you can get access to it. This is a paid script, please follow the link in my profile to get the details or ask me directly. It may take up to 48 hours for me to respond, but I do my best to respond as quickly as possible. You will get 7 days to test it for yourself on all your charts with no restrictions.
[NLX-L1] Trend Index- NLX Modular Trading Framework -
This module is build upon the Trend Index by Mango2Juice (thanks for your permission to use the source!)
It includes all the common indicators and creates a positive or negative score, which can be used with my Modular Trading Framework and linked to an entry/exit indicator.
SuperTrend
VWAP Bands
Relative Strength Index ( RSI )
Commodity Channel Index ( CCI )
William Percent Range (WPR)
Directional Movement Index (DMI)
Elder Force Index ( EFI )
Momentum
Demarker
Parabolic SAR
... and more
- Getting Started -
1. Add this Trend Index to your Chart
2. Add one of my Indicator Modules to your Chart, such as the QQE++ Indicator
3. In the QQE Indicator Settings combine it with the Trend Index (and choose L1 Type)
4. Optional: Add the Noise Filter , and in the Noise Filter Settings you select the QQE Indicator as combination (and choose L2 for Type)
5. Add the Backtest Module to your Chart
6. Select the Noise Filter in the Backtest Settings
Indicator modules can be combined in many different ways in my framework - have fun!
- Alerts for Automated Trading -
The alerts module is coming soon and you will be able to create alerts to automated your trades.
See my signature below for more information.
Trend Index Trend Index show trend of the instrument based on multiple indicators
- Green --> Uptrend
- Red --> Downtrend
- Gray --> No trend
Indicators used:-
Relative Strength Index (RSI)
Commodity Channel Index (CCI)
William Percent Range (WPR)
Directional Movement Index (DMI)
Elder Force Index (EFI)
Momentum
Demarker
Parabolic SAR
Reversal Points [CC]This original script was created based on a suggestion from @kerpiciwuasile. My original Reversal Points script was removed because I modeled it after an indicator by Demark, but this script will have no such issues. Reversal points are an exciting concept for me because it is such a useful tool when placing trades. This is my first attempt at a new overall layout for my script and I included a bunch of customization so let me know what you think.
My script works by finding lows that are surrounded by bars that have higher lows and highs that are surrounded by lower highs. I use this logic to find short term lows or highs and I use the same concept to find mid-term lows or highs but a mid-term high is a short term high surrounded by lower short term highs and a mid-term low is a short term low surrounded by higher short term lows. And of course this means that long term highs or lows use the same logic to find highs or lows that are surrounded by mid-term highs or lows. I would recommend to buy at the long term low points or sell at the long term high points.
Keep in mind of course that short term highs and lows are very common and reversal points will get rarer as you look for longer term reversal points. I would recommend to experiment and see which reversal points work best for you and of course, know that there is no magical formula to use for all stocks.
Also there are a few scenarios where you want to enable or disable the inside bar setting. You would want to ignore inside bars if the market is currently very volatile or if you are using this indicator on a crypto chart. This is not an exact science but more of a recommendation, so feel free to experiment with it.
Reversal points are crucial for traders as they signal a potential change in the market trend, providing opportunities for entry or exit.
In summary, this code snippet is a powerful tool for traders to detect and visualize reversal points on a trading chart, providing valuable insights into potential trend changes and facilitating more informed trading decisions.
Let me know if you would like me to publish other scripts or if you want me to do something custom for you!
Momentum Reversal Indicator (MRI)This is the Beta release of the Momentum Reversal Indicator (MRI), expect an update by the end of year.
The Momentum Reversal Indicator (MRI) is an advanced script for professional traders who have taken the time to learn all its functions. It is a time based indicator that anticipates the ending of trends based on the momentum in price movement. As an important secondary element, MRI also suggests when a trend might be starting or continuing, which a trader can certainly take advantage of. It is useful across all assets and all time frames but is ideal in more liquid assets on Daily & Weekly time frames.
Since this is an Invite Only Script, I will not be making the code public nor explain the math logic of the code here in TradingView. TradingView also limits any external links, but those interested in details or access should be resourceful enough to find all the information they need on my website. However, I will try and explain the usefulness of the MRI indicator with the following images.
MRI will display a downwards red arrow above the candle when the bullish trend is ending and an upwards green arrow above the candle when the bearish trend is ending. The candle before the MRI top/bottom is marked by an orange arrow warning you that the trend might be ending on the next candle. (It's common that the trend ends on the candle before or after this MRI signal, I personally like to use single candlestick reversals for confirmation like Shooting Stars, Hammers and Doji). The orange arrow will disappear if a green or red arrow shows up, but will remain on the chart if on the following candle, the conditions needed to make the MRI signal are not met. See NYSE:UBER chart below:
When the number above the arrow is something other than a 1, it indicates a strong trend and the number represents consecutive instances of hitting that MRI extreme condition. These consecutive instances have been known to cause major changes in trend and the larger the number, the bigger the move might be. Here is a recent example of the daily chart hitting a 3 on the MRI, with the market falling 6.5% in the following 3 days and 10% over the next 3 weeks (you can see this in the image used to publish this script)
The biggest number I have seen is a 5, this occurred on the weekly chart of AMEX:CBOE as it was followed by a 30% correction over the next two weeks.
Following an MRI Top/Bottom there are three different Extensions of trend if the price continues to move in the same direction and does not reverse with the MRI. It’s up to the trader to decide which of the three they find most relevant, for me it’s B & C, and there are settings you can use to remove what you don't care for from display. They have a different but similar rule set which is explained to those serious about the indicator and purchase access, which comes with full explanations in a video. Here is a recent chart of NASDAQ:AMZN for an example:
And here is a weekly chart of NYSE:GM topping on Extension C with the MRI warning (Orange Arrow). Extensions A & B also provided good profit takes after a big run up
These Extensions are particularly useful when they occur on (or right around) an MRI Top/Bottom. Here is an example where it timed the 2018 stock market SPCFD:SPX top perfectly leading directly into an MRI Bottom two weeks later (Also notice how we can show multiple timeframes hitting MRI levels)
In addition to Extensions, an MRI Top/Bottom generates a Resistance/Support line (dotted) and a Breakout Line (solid). The Support/Resistance not only has a tendency to reverse the price but also increases the probability of the MRI leading to a full reversal if the line is not broken. By breaking this dotted line, you increase the probability of entering the Extension of Trend. The Breakout line tends to notify the trader that the trend is very strong and continuing. As an example of Support line, here is a recent 1 hour BITSTAMP:BTCUSD chart
Here is FX_IDC:EURUSD as of today on a daily chart which shows the Extension of trends once these critical support/resistance and breakout lines are taken out.
The indicator also shows you if the MRI is hitting critical levels on higher level time frames. We have set the defaults to Hourly (H), Daily (D), Weekly (W), Monthly (M) and Yearly (Y). You can turn these off in settings and you can also add up to 3 additional custom timeframes of your choice to the display list. When MRI lines up across several time frames it has a history of causing significant moves, here is an example of NSE:TITAN which fell 25% after aligning with the Daily, Weekly and Monthly timeframes for a top.
The recent top in TVC:GOLD came on a Friday which had a Daily Extension B & C top. The following Monday kicked off a weekly MRI Top and a week later was the start of September, which happens to be a Monthly MRI Top. Gold is still trending lower as of today and is down 11% since this top less than 2 months ago.
One final note on the multi-timeframe is that if you have the Hourly (H) set to display on a chart that only has end of day data, the Indicator will not work so make sure to uncheck all timeframes that can't be identified in the settings.
Here are additional charts that show the power of MRI including cryptocurrencies:
Recent 25% crash in BINANCE:BNBBTC
Of course we have to mention BITSTAMP:BTCUSD here is how MRI called the time period around the big crash in March 2020. There was a very timely MRI Top several weeks prior and once the Support line broke, it went right down into a nice MRI Bottom.
Volatility Index Weekly & Daily as of today CBOE:VIX
Here is the current look at the weekly USD chart TVC:DXY you can see how it tops on Extension C in March and seems to have bottomed with the MRI in late August.
One more look at a stock chart, here we have the Weekly NASDAQ:SBUX as of today, it perfectly oscillates between the MRI calls the last two years.
Disclaimer : Trading is risky and using MRI (like any other indicator) does not guarantee positive returns. It does not blindly provide Buy/Sell/Short calls and the trader will need to evaluate every alert.
“The average man doesn’t wish to be told that it is a bull or a bear market. What he desires is to be told specifically which particular stock to buy or sell. He wants to get something for nothing. He does not wish to work. He doesn’t even wish to have to think.” - Jesse Livermore
Personal Note: I would like to credit the following people that all lead to the knowledge needed to build the MRI: Larry Williams, Tom DeMark, Tyler Jenks, Martin Armstrong & Kevin O’Dowd (most of whom I have met or interacted with)
Thank you everyone, if this indicator interests you, you know what to do...
Good Luck Trader,
Tone Vays
Fuzzy Fib CountsA new approach to trend/time analysis. This indicator counts up/down price moves using fuzzy logic in two time frames. Counts reaching Fibonacci numbers are often significant to trend momentum: either reversal or stronger continuation. See the script’s beginning comments for details.
I’m amazed with DeMark and all his indicators. But after coding a TD_Sequential script, I began to wonder if there wasn’t an easier way to identify high probability entry/exit points without all the intricate logic. It took awhile, but a different paradigm eventually came into focus: Fuzzy Fib Counts (FFC).
FFC is like “analog” compared to TD_Sequential’s “digital” approach. And FFC is much simpler: no buy/sell/perfected/deferred signals, just up/down counts. It’s uncanny how often a trend is refocused at Fibonacci numbers, but like TD_Sequential… it’s not perfect! As with all indicators, consult your intuition, before pulling the trigger.
The default values have been effective for me in Bitcoin (and I’m surprised how well it works in smaller time frames). However, for less volatile markets, you may need to reduce the fuzz level and/or adjust the filter (averaging) parameters.
FFC has been helpful to me. Hope it helps you too! If so, donations appreciated… Thanks!
BTC: 36FdUcETrwmGxt5qazq7Bo7kad9kuNawMF
LTC: MJYHzwJYjsnB35dzb5L9hCpqZf8RyqViEm
ETH: 0x3db7557bea61ca4c096c6ed7bdb2a0d69e455fe1
Looking for trailblazers to help explore new possibilities… Add constructive comments below!
