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Adaptive, Relative Strength EMA (RSEMA) [Loxx]TASC's May 2022 edition Traders' Tipsl includes the "Relative Strength Moving Averages" article authored by Vitali Apirine. This is the code implementing the Relative Strength Exponential Moving Average (​RS EMA) indicator introduced in this publication. This indicator adds onto Vitali Apirine's work by including three different types of momentum used to calculate RSEMA as well as fixed and adaptive cycle calculations to be used as dynamic inputs to calculate momentum. The purpose of these additional calculation methods is to attempt to filter out noice and track trends by using different methods and inputs to calculation momentum. Momentum methods -Wilder relative strength -Chande momentum -Momentum component of Jurik's RSX RSI Cycle calculation methods -Fixed -Vertical horizontal filter -Ehlers' Autocorrelation Dominant Cycle What is Wilder relative strength? The Relative Strength Index (RSI), developed by J. Welles Wilder, is a momentum oscillator that measures the speed and change of price movements. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30. What is Chande momentum? Chande Momentum was designed specifically to track the movement and momentum of a security. It calculates the difference between the sum of both recent gains and recent losses, then dividing the result by the sum of all price movement over the same period. What is the momentum component of Jurik's RSX RSI? RSI is a very popular technical indicator, because it takes into consideration market speed, direction and trend uniformity. However, the its widely criticized drawback is its noisy (jittery) appearance. The Jurk RSX retains all the useful features of RSI , but with one important exception: the noise is gone with no added lag. For our purposes here, we derive momentum minus the lag. Vertical horizontal filter? Vertical Horizontal Filter (VHF) was created by Adam White to identify trending and ranging markets. VHF measures the level of trend activity, similar to ADX in the Directional Movement System. Trend indicators can then be employed in trending markets and momentum indicators in ranging markets. What is autocorrelation? Ehlers Autocorrelation is used in the calculation of dominant cycle length to be injected into standard technical analysis tools to improve TA accuracy. Its main purpose is to eliminate noise from the price data, reduce effects of the “spectral dilation” phenomenon, and reveal dominant cycle periods. As the first step, Autocorrelation uses Mr. Ehlers’s previous installment, Ehlers Roofing Filter, in order to enhance the signal-to-noise ratio and neutralize the spectral dilation. This filter is based on aerospace analog filters and when applied to market data, it attempts to only pass spectral components whose periods are between 10 and 48 bars. Autocorrelation is then applied to the filtered data: as its name implies, this function correlates the data with itself a certain period back. As with other correlation techniques, the value of +1 would signify the perfect correlation and -1, the perfect anti-correlation. Happy trading!
Indicatore Pine Script®
di loxx
6
TASC 2022.05 Relative Strength Exponential Moving Average█ OVERVIEW TASC's May 2022 edition Traders' Tips includes the "Relative Strength Moving Averages" article authored by Vitali Apirine. This is the code implementing the Relative Strength Exponential Moving Average (​RS EMA) indicator introduced in this publication. █ CONCEPTS ​RS EMA is an adaptive trend-following indicator with reduced lag characteristics. By design, this was made possible by harnessing the relative strength of price. It operates in a similar fashion to a traditional EMA, but it has an improved response to price fluctuations. In a trading strategy, ​RS EMA can be used in conjunction with an EMA of the same length to identify the overall trend (see the preview chart). Alternatively, ​RS EMAs with different lengths can define turning points and filter price movements. ​RS EMA is an adaptive trend-following indicator with reduced lag characteristics. By design, this was made possible by harnessing the relative strength of price. It operates in a similar fashion to a traditional EMA, but it has an improved response to price fluctuations. █ CALCULATIONS The following steps are used in the calculation process: • Calculate the relative strength (​RS) of a given length. • Multiply ​RS by a chosen coefficient (multiplier) to adapt the EMA filtering the original time series. Calculate the EMA of the resulting time series. The author recommends ​RS EMA(10,10,10) as typical settings, where the first parameter is the EMA length, the second parameter is the ​RS length, and the third parameter is the ​RS multiplier. Other values may be substituted depending on your trading style and goals.
Indicatore Pine Script®
di PineCodersTASC
4
TASC 2022.03 Relative Strength Volatility-Adjusted EMA█  OVERVIEW TASC's March 2022 edition of Traders' Tips includes the "Relative Strength Moving Averages - Part 3: The Relative Strength Volatility-Adjusted Exponential Moving Average" article authored by Vitali ​Apirine. This is the code that implements the "RS VolatAdj EMA" from the article. █  CONCEPTS In a three-part article series, Vitaly Apirine examines ways to filter price movements and define turning points by applying the Relative Strength concept to exponential moving averages . The resulting indicator is more responsive and is intended to account for the relative strength of volatility . █  CALCULATIONS The calculation process uses the following steps: Select an appropriate volatility index (in our case it is VIX ). Calculate up day volatility (UV) smoothed by a 10-day EMA. Calculate down day volatility (DV) smoothed by a 10-day EMA. Take the absolute value of the difference between UV and DV and divide by the sum of UV and DV. This is the Volatility Strength we need. Calculate a MLTP constant - the weighting multiplier for an exponential moving average. Combine Volatility Strength and MLTP to create an exponential moving average on current price data. Join TradingView!
Indicatore Pine Script®
di PineCodersTASC
1
Reverse Cutlers Relative Strength Index On ChartIntroduction The Reverse Cutlers Relative Strength Index (RCRSI) OC is an indicator which tells the user what price is required to give a particular Cutlers Relative Strength Index ( RSI ) value, or cross its Moving Average (MA) signal line. Overview Background & Credits: The relative strength index ( RSI ) is a momentum indicator used in technical analysis that was originally developed by J. Welles Wilder Jr. and introduced in his seminal 1978 book, “New Concepts in Technical Trading Systems.”. Cutler created a variation of the RSI known as “Cutlers RSI” using a different formulation to avoid an inherent accuracy problem which arises when using Wilders method of smoothing. Further developments in the use, and more nuanced interpretations of the RSI have been developed by Cardwell, and also by well-known chartered market technician, Constance Brown C.M.T., in her acclaimed book "Technical Analysis for the Trading Professional” 1999 where she described the idea of bull and bear market ranges for RSI , and while she did not actually reveal the formulas, she introduced the concept of “reverse engineering” the RSI to give price level outputs. Renowned financial software developer, co-author of academic books on finance, and scientific fellow to the Department of Finance and Insurance at the Technological Educational Institute of Crete, Giorgos Siligardos PHD . brought a new perspective to Wilder’s RSI when he published his excellent and well-received articles "Reverse Engineering RSI " and "Reverse Engineering RSI II " in the June 2003, and August 2003 issues of Stocks & Commodities magazine, where he described his methods of reverse engineering Wilders RSI . Several excellent Implementations of the Reverse Wilders Relative Strength Index have been published here on Tradingview and elsewhere. My utmost respect, and all due credits to authors of related prior works. Introduction It is worth noting that while the general RSI formula, and the logic dictating the UpMove and DownMove data series has remained the same as the Wilders original formulation, it has been interpreted in a different way by using a different method of averaging the upward, and downward moves. Cutler recognized the issue of data length dependency when using wilders smoothing method of calculating RSI which means that wilders standard RSI will have a potential initialization error which reduces with every new data point calculated meaning early results should be regarded as unreliable until enough calculation iterations have occurred for convergence. Hence Cutler proposed using Simple Moving Averaging for gain and loss data which this Indicator is based on. Having "Reverse engineered" prices for any oscillator makes the planning, and execution of strategies around that oscillator far simpler, more timely and effective. Introducing the Reverse Cutlers RSI which consists of plotted lines on a scale of 0 to 100, and an optional infobox. The RSI scale is divided into zones: • Scale high (100) • Bull critical zone (80 - 100) • Bull control zone (62 - 80) • Scale midline (50) • Bear control zone (20 - 38) • Bear critical zone (0 - 20) • Scale low (0) The RSI plots which graphically display output closing price levels where Cutlers RSI value will crossover: • RSI (eq) (previous RSI value) • RSI MA signal line • RSI Test price • Alert level high • Alert level low The info box displays output closing price levels where Cutlers RSI value will crossover: • Its previous value. ( RSI ) • Bull critical zone. • Bull control zone. • Mid-Line. • Bear control zone. • Bear critical zone. • RSI MA signal line • Alert level High • Alert level low And also displays the resultant RSI for a user defined closing price: • Test price RSI The infobox outputs can be shown for the current bar close, or the next bar close. The user can easily select which information they want in the infobox from the setttings Importantly: All info box price levels for the current bar are calculated immediately upon the current bar closing and a new bar opening, they will not change until the current bar closes. All info box price levels for the next bar are projections which are continually recalculated as the current price changes, and therefore fluctuate as the current price changes. Understanding the Relative Strength Index At its simplest the RSI is a measure of how quickly traders are bidding the price of an asset up or down. It does this by calculating the difference in magnitude of price gains and losses over a specific lookback period to evaluate market conditions. The RSI is displayed as an oscillator (a line graph that can move between two extremes) and outputs a value limited between 0 and 100. It is typically accompanied by a moving average signal line. Traditional interpretations Overbought and oversold: An RSI value of 70 or above indicates that an asset is becoming overbought (overvalued condition), and may be may be ready for a trend reversal or corrective pullback in price. An RSI value of 30 or below indicates that an asset is becoming oversold (undervalued condition), and may be may be primed for a trend reversal or corrective pullback in price. Midline Crossovers: When the RSI crosses above its midline ( RSI > 50%) a bullish bias signal is generated. (only take long trades) When the RSI crosses below its midline ( RSI < 50%) a bearish bias signal is generated. (only take short trades) Bullish and bearish moving average signal Line crossovers: When the RSI line crosses above its signal line, a bullish buy signal is generated When the RSI line crosses below its signal line, a bearish sell signal is generated. Swing Failures and classic rejection patterns: If the RSI makes a lower high, and then follows with a downside move below the previous low, a Top Swing Failure has occurred. If the RSI makes a higher low, and then follows with an upside move above the previous high, a Bottom Swing Failure has occurred. Examples of classic swing rejection patterns Bullish swing rejection pattern: The RSI moves into oversold zone (below 30%). The RSI rejects back out of the oversold zone (above 30%) The RSI forms another dip without crossing back into oversold zone. The RSI then continues the bounce to break up above the previous high. Bearish swing rejection pattern: The RSI moves into overbought zone (above 70%). The RSI rejects back out of the overbought zone (below 70%) The RSI forms another peak without crossing back into overbought zone. The RSI then continues to break down below the previous low. Divergences: A regular bullish RSI divergence is when the price makes lower lows in a downtrend and the RSI indicator makes higher lows. A regular bearish RSI divergence is when the price makes higher highs in an uptrend and the RSI indicator makes lower highs. A hidden bullish RSI divergence is when the price makes higher lows in an uptrend and the RSI indicator makes lower lows. A hidden bearish RSI divergence is when the price makes lower highs in a downtrend and the RSI indicator makes higher highs. Regular divergences can signal a reversal of the trending direction. Hidden divergences can signal a continuation in the direction of the trend. Chart Patterns: RSI regularly forms classic chart patterns that may not show on the underlying price chart, such as ascending and descending triangles & wedges , double tops, bottoms and trend lines etc. Support and Resistance: It is very often easier to define support or resistance levels on the RSI itself rather than the price chart. Modern interpretations in trending markets: Modern interpretations of the RSI stress the context of the greater trend when using RSI signals such as crossovers, overbought/oversold conditions, divergences and patterns. Constance Brown, CMT , was one of the first who promoted the idea that an oversold reading on the RSI in an uptrend is likely much higher than 30%, and that an overbought reading on the RSI during a downtrend is much lower than the 70% level. In an uptrend or bull market, the RSI tends to remain in the 40 to 90 range, with the 40-50 zone acting as support. During a downtrend or bear market, the RSI tends to stay between the 10 to 60 range, with the 50-60 zone acting as resistance. For ease of executing more modern and nuanced interpretations of RSI it is very useful to break the RSI scale into bull and bear control and critical zones. These ranges will vary depending on the RSI settings and the strength of the specific market’s underlying trend. Limitations of the RSI Like most technical indicators, its signals are most reliable when they conform to the long-term trend. True trend reversal signals are rare, and can be difficult to separate from false signals. False signals or “fake-outs”, e.g. a bullish crossover, followed by a sudden decline in price, are common. Since the indicator displays momentum, it can stay overbought or oversold for a long time when an asset has significant sustained momentum in either direction. Data Length Dependency when using wilders smoothing method of calculating RSI means that wilders standard RSI will have a potential initialization error which reduces with every new data point calculated meaning early results should be regarded as unreliable until calculation iterations have occurred for convergence.
Indicatore Pine Script®
di The_Caretaker
8
Reverse Cutlers Relative Strength IndexIntroduction The Reverse Cutlers Relative Strength Index (RCRSI) is an indicator which tells the user what price is required to give a particular Cutlers Relative Strength Index (RSI) value, or cross its Moving Average (MA) signal line. Overview Background & Credits: The relative strength index (RSI) is a momentum indicator used in technical analysis that was originally developed by J. Welles Wilder Jr. and introduced in his seminal 1978 book, “New Concepts in Technical Trading Systems.”. Cutler created a variation of the RSI known as “Cutlers RSI” using a different formulation to avoid an inherent accuracy problem which arises when using Wilders method of smoothing. Further developments in the use, and more nuanced interpretations of the RSI have been developed by Cardwell, and also by well-known chartered market technician, Constance Brown C.M.T., in her acclaimed book "Technical Analysis for the Trading Professional” 1999 where she described the idea of bull and bear market ranges for RSI, and while she did not actually reveal the formulas, she introduced the concept of “reverse engineering” the RSI to give price level outputs. Renowned financial software developer, co-author of academic books on finance, and scientific fellow to the Department of Finance and Insurance at the Technological Educational Institute of Crete, Giorgos Siligardos PHD. brought a new perspective to Wilder’s RSI when he published his excellent and well-received articles "Reverse Engineering RSI " and "Reverse Engineering RSI II " in the June 2003, and August 2003 issues of Stocks & Commodities magazine, where he described his methods of reverse engineering Wilders RSI. Several excellent Implementations of the Reverse Wilders Relative Strength Index have been published here on Tradingview and elsewhere. My utmost respect, and all due credits to authors of related prior works. Introduction It is worth noting that while the general RSI formula, and the logic dictating the UpMove and DownMove data series as described above has remained the same as the Wilders original formulation, it has been interpreted in a different way by using a different method of averaging the upward, and downward moves. Cutler recognized the issue of data length dependency when using wilders smoothing method of calculating RSI which means that wilders standard RSI will have a potential initialization error which reduces with every new data point calculated meaning early results should be regarded as unreliable until enough calculation iterations have occurred for convergence. Hence Cutler proposed using Simple Moving Averaging for gain and loss data which this Indicator is based on. Having "Reverse engineered" prices for any oscillator makes the planning, and execution of strategies around that oscillator far simpler, more timely and effective. Introducing the Reverse Cutlers RSI which consists of plotted lines on a scale of 0 to 100, and an optional infobox. The RSI scale is divided into zones: • Scale high (100) • Bull critical zone (80 - 100) • Bull control zone (62 - 80) • Scale midline (50) • Bear critical zone (20 - 38) • Bear control zone (0 - 20) • Scale low (0) The RSI plots are: • Cutlers RSI • RSI MA signal line • Test price RSI • Alert level high • Alert level low The info box displays output closing price levels where Cutlers RSI value will crossover: • Its previous value. (RSI ) • Bull critical zone. • Bull control zone. • Mid-Line. • Bear control zone. • Bear critical zone. • RSI MA signal line • Alert level High • Alert level low And also displays the resultant RSI for a user defined closing price: • Test price RSI The infobox outputs can be shown for the current bar close, or the next bar close. The user can easily select which information they want in the infobox from the setttings Importantly: All info box price levels for the current bar are calculated immediately upon the current bar closing and a new bar opening, they will not change until the current bar closes. All info box price levels for the next bar are projections which are continually recalculated as the current price changes, and therefore fluctuate as the current price changes. Understanding the Relative Strength Index At its simplest the RSI is a measure of how quickly traders are bidding the price of an asset up or down. It does this by calculating the difference in magnitude of price gains and losses over a specific lookback period to evaluate market conditions. The RSI is displayed as an oscillator (a line graph that can move between two extremes) and outputs a value limited between 0 and 100. It is typically accompanied by a moving average signal line. Traditional interpretations Overbought and oversold: An RSI value of 70 or above indicates that an asset is becoming overbought (overvalued condition), and may be may be ready for a trend reversal or corrective pullback in price. An RSI value of 30 or below indicates that an asset is becoming oversold (undervalued condition), and may be may be primed for a trend reversal or corrective pullback in price. Midline Crossovers: When the RSI crosses above its midline (RSI > 50%) a bullish bias signal is generated. (only take long trades) When the RSI crosses below its midline (RSI < 50%) a bearish bias signal is generated. (only take short trades) Bullish and bearish moving average signal Line crossovers: When the RSI line crosses above its signal line, a bullish buy signal is generated When the RSI line crosses below its signal line, a bearish sell signal is generated. Swing Failures and classic rejection patterns: If the RSI makes a lower high, and then follows with a downside move below the previous low, a Top Swing Failure has occurred. If the RSI makes a higher low, and then follows with an upside move above the previous high, a Bottom Swing Failure has occurred. Examples of classic swing rejection patterns Bullish swing rejection pattern: The RSI moves into oversold zone (below 30%). The RSI rejects back out of the oversold zone (above 30%) The RSI forms another dip without crossing back into oversold zone. The RSI then continues the bounce to break up above the previous high. Bearish swing rejection pattern: The RSI moves into overbought zone (above 70%). The RSI rejects back out of the overbought zone (below 70%) The RSI forms another peak without crossing back into overbought zone. The RSI then continues to break down below the previous low. Divergences: A regular bullish RSI divergence is when the price makes lower lows in a downtrend and the RSI indicator makes higher lows. A regular bearish RSI divergence is when the price makes higher highs in an uptrend and the RSI indicator makes lower highs. A hidden bullish RSI divergence is when the price makes higher lows in an uptrend and the RSI indicator makes lower lows. A hidden bearish RSI divergence is when the price makes lower highs in a downtrend and the RSI indicator makes higher highs. Regular divergences can signal a reversal of the trending direction. Hidden divergences can signal a continuation in the direction of the trend. Chart Patterns: RSI regularly forms classic chart patterns that may not show on the underlying price chart, such as ascending and descending triangles & wedges, double tops, bottoms and trend lines etc. Support and Resistance: It is very often easier to define support or resistance levels on the RSI itself rather than the price chart. Modern interpretations in trending markets: Modern interpretations of the RSI stress the context of the greater trend when using RSI signals such as crossovers, overbought/oversold conditions, divergences and patterns. Constance Brown, CMT, was one of the first who promoted the idea that an oversold reading on the RSI in an uptrend is likely much higher than 30%, and that an overbought reading on the RSI during a downtrend is much lower than the 70% level. In an uptrend or bull market, the RSI tends to remain in the 40 to 90 range, with the 40-50 zone acting as support. During a downtrend or bear market, the RSI tends to stay between the 10 to 60 range, with the 50-60 zone acting as resistance. For ease of executing more modern and nuanced interpretations of RSI it is very useful to break the RSI scale into bull and bear control and critical zones. These ranges will vary depending on the RSI settings and the strength of the specific market’s underlying trend. Limitations of the RSI Like most technical indicators, its signals are most reliable when they conform to the long-term trend. True trend reversal signals are rare, and can be difficult to separate from false signals. False signals or “fake-outs”, e.g. a bullish crossover, followed by a sudden decline in price, are common. Since the indicator displays momentum, it can stay overbought or oversold for a long time when an asset has significant sustained momentum in either direction. Data Length Dependency when using wilders smoothing method of calculating RSI means that wilders standard RSI will have a potential initialization error which reduces with every new data point calculated meaning early results should be regarded as unreliable until calculation iterations have occurred for convergence.
Indicatore Pine Script®
di The_Caretaker
5
NIFTY INDEX VS STOCK Relative StrengthRelative Index is a ratio of a stock price performance to a market average performance. It is used in technical analysis. It is not confused with RSI indicator. To calculate the relative strength of a particular stock,divide the percentage change over some period by the percentage change of a particular index over the same time period.A stock with a higher relative strength than the overall index often shows a strong investment opportunity.Relative strength is a technique used in momentum investing and identify value stock.The goal of relative strength investing is to buy high and sell even higher.
Indicatore Pine Script®
di sincereLizard
3
JSE Top 40 Comparative Relative Strength RSI OscillatorThis code is the result of an idea by @MarcoOlivano. The question was that if putting the comparative relative strength as an RSI oscillator would help in understanding the relative strength of the stock to the overall market? As we both trade the JSE I have made the JSE:J200 or Top 40 the basis for comparison. This can be changed in the settings dropdown if you want to compare with the All Share Index (JSE:J201) or other markets such as the S&P. On the chart above I have included the Comparative Relative Strength as a reference together with the Comparative Relative Strength RSI. If you use the indicator or adapt it please let me know if it works for you, how you use it and if it has any value.
Indicatore Pine Script®
di SteynTrade
1
Price Relative / Relative StrengthThe Price Relative indicator compares the performance of one security to another with a ratio chart. This indicator is also known as the Relative Strength indicator or Relative Strength Comparative. Often, the Price Relative indicator is used to compare the performance of a stock against a benchmark index, S&P 500, BIST:XU100 etc. Chartists can also use the Price Relative to compare the performance of a stock to its sector or industry group. This makes it possible to determine if a stock is leading or lagging its peers. The Price Relative indicator can also be used to find stocks that are holding up better during a broad market decline or showing weakness during a broad market advance. (Source: stockcharts) This also can be used for Trend Identification and Bullish/Bearish Divergences. Good Luck
Indicatore Pine Script®
di LonesomeTheBlue
1
Liquid RSI - Marrying The Relative Strength Index And The VolumeIntroduction I recently derived the calculation of the relative strength index, an indicator that aim to spot overbought and oversold assets, but what is an overbought/sold asset ? Can such things be estimated with price alone ? This why i propose a modification of the relative strength using my recently proposed efficient calculation including volume information in order to spot overbought/sold asset. Scaling A Liquid Market The relative strength index detect an overbought/sold asset when higher/lower than a certain level, often 80/20. An overbought asset, or better say over evaluated, is more attractive to sell because prices are no longer attractive to buy, it has reached its value of interest for traders looking to go long, we can then expect the price to correct and start a trend of opposite direction, while an oversold asset is more attractive to buy based on the same logic. The idea of talking about over bought and over sold without taking into account the volume can be a bit strange, since volume is directly related to the quantity of contracts traded, an higher volume can show sign of a more active market, which can describe the terms : overbought/sold a bit better. Many indicators used the rsi framework with volume, the money flow index for example, but it can be interesting to provide other alternatives. The Indicator The indicator is based on the average positive changes in price multiplied by positive changes in volume divided by the average absolute change in price multiplied by the absolute changes in volume. The average is based on the wilder moving average which is a simple exponential filter with smoothing constant 1/length . The indicator will react according to the volume magnitude, higher volumes will make the indicator go over/under the overbought/sold threshold more easily, in the image above, the indicator is currently saying that the market is under evaluated, which is not the case for the RSI. Such situation allow us to take a position that we could't take if we base our judgement only on price change magnitude. The indicator has a tendency to be over/under the thresholds a longer period of time if the volume is relatively high. An interesting effect the indicator has it to ignore movements with moderate volume, the indicator is less prone to cross under a threshold and to go back to it, this is shown in the image above. Another observation we can make is that the proposed indicator is smoother than the rsi, this is certainly due to the fact that the volume underweight small price changes. Conclusions I proposed a modification of the relative strength index that also take into account volume information. The proposed indicator is also smoother. Regarding its ability to detect overbought and oversold market, it has indeed the capacity to do it, however the problem remain the same, what is the extent of the correction following an overbought/oversold market ? We can see that the correction can be minor, and thus be followed by a large movements correlated with the main trend. With those oscillators we are interested into knowing the end of the "whole trend", and they fail to do this because they use past information. I still hope the indicator find some creative usages amongst the community. Thanks for reading ! And remember to ask before using the script code, it pains me to see minor changes on scripts i can pass 3 hours on.
Indicatore Pine Script®
di alexgrover
33
VSA Highlight & Relative Strength of Volume [odnac]This is a TradingView indicator combining VSA (Volume Spread Analysis) signals with a relative strength of volume visualization. The indicator has two main parts: 1. VSA Volume Highlight: Detects common VSA signals, including Stopping Volume, Buying Climax, No Supply, No Demand, Test, Up-thrust, Shakeout, Demand Absorption, and Supply Absorption. Supports a trend filter using a user-selectable moving average type (SMA, EMA, WMA, or VWMA) and length. Calculates spread and volume moving averages to determine wide/narrow spreads and high/low volume relative to the averages. Determines relative bar positions (close near high, close near low, or mid-close) to categorize VSA signals. Optionally colors the background based on the detected VSA signal. Supports alerts for each VSA signal type. 2. Relative Strength of Volume: Splits total volume into buying and selling components based on the candle’s high, low, and close. Buying volume is calculated as volume times the proportion of the candle’s close above the low. Selling volume is calculated as volume times the proportion of the candle’s close below the high. Plots buying and selling volume as colored columns in the pane. Plots total volume in the status line colored according to the dominant side (buying or selling). Inputs include: Toggle visibility for each VSA signal. Trend filter options (type and length). Volume and spread moving average lengths and multipliers for high/low volume and wide/narrow spread detection. Thresholds for close positions near high or low, and for identifying Buying Climax. Opacity for VSA volume highlights. The indicator is designed to help traders visually identify key volume patterns and analyze buying and selling pressure in the market.
Indicatore Pine Script®
di odnac
RRG Relative Strength# RRG Relative Strength (RRG RS) Compare any symbol to a benchmark using two RRG-style lines: **RS-Ratio** (trend of relative strength) and **RS-Momentum** (momentum of that trend). Both are centered at **100**: - **RS-Ratio > 100** → outperforming the benchmark - **RS-Ratio < 100** → underperforming - **RS-Momentum** often **leads** RS-Ratio (crosses 100 earlier) # How it works 1) Relative Strength (RS): RS = Close(symbol) / Close(benchmark) 2) Normalize around 100: smooth RS with EMA and divide RS by that EMA 3) RS-Ratio: EMA( RS / EMA(RS, Length), LenSmooth ) * 100 4) RS-Momentum: RS-Ratio / EMA(RS-Ratio, LenSmooth) * 100 # Inputs - Length (default 14): normalization window for RS - Length Smooth (default 20): smoothing window for RS-Ratio & RS-Momentum # Benchmark (auto) - US: SP:SPX (S&P 500) - Vietnam: HOSE:VNINDEX - Crypto: INDEX:BTCUSD (Modify the mapping if needed, or replace with your own input.symbol().) # How to read - Improving: RS-Momentum crosses above 100 while RS-Ratio turns up - Leading: RS-Ratio > 100 with RS-Momentum ≥ 100 - Weakening: RS-Momentum drops below 100; RS-Ratio often follows # Timeframes & presets - Works on Daily and Weekly charts - Daily (fast): 14 / 20 - Approx. weekly behavior on Daily: 50 / 60 Note: Values usually hover near 100 (e.g., ~90–110) but are not strictly bounded. Ensure your symbol and benchmark trade in comparable sessions/currencies.
Indicatore Pine Script®
di huynhphan89
1
Waldo Cloud Bollinger Bands Waldo Cloud Bollinger Bands Indicator Description for TradingView Title: Waldo Cloud Bollinger Bands Short Title: Waldo Cloud BB Overview: The Waldo Cloud Bollinger Bands indicator is a sophisticated tool designed for traders looking to combine the volatility analysis of Bollinger Bands with the momentum insights of the Relative Strength Index (RSI) and moving average crossovers. This indicator overlays on your chart, providing a visual representation that helps in identifying potential trading opportunities based on price action, momentum, and trend direction. Concept: This indicator merges three key technical analysis concepts: Bollinger Bands: These are used to measure market volatility. The bands consist of a central moving average (basis) with an upper and lower band that are standard deviations away from this average. In this indicator, you can customize the type of moving average used for the basis (SMA, EMA, SMMA, WMA, VWMA), the length of the period, the source price, and the standard deviation multiplier, offering flexibility to adapt to different market conditions. Relative Strength Index (RSI): The RSI is incorporated to provide insight into the momentum of price movements. Users can adjust the RSI length and overbought/oversold levels and even choose the price source for RSI calculation, allowing for tailored momentum analysis. The RSI values influence the cloud color between the Bollinger Bands, signaling market conditions. Moving Average Crossovers: Two moving averages with customizable lengths and types are used to identify trend direction through crossovers. A fast MA (default 20 periods) and a slow MA (default 50 periods) are plotted when enabled, helping to signal potential bullish or bearish market conditions when they cross over each other. Functionality: Bollinger Bands Calculation: The basis of the Bollinger Bands is calculated using a user-defined moving average type, with a customizable length, source, and standard deviation multiplier. The upper and lower bands are then plotted around this basis. RSI Calculation: The RSI is computed using a user-specified source, length, and overbought/oversold levels. This RSI value is used to determine the color of the cloud between the Bollinger Bands, which visually represents market sentiment: Purple when RSI is overbought. Blue when RSI is oversold. Green for bullish conditions (when the fast MA crosses above the slow MA, RSI is bullish, and the price is above the slow MA). Red for bearish conditions (when the fast MA crosses below the slow MA, RSI is bearish, and the price is below the slow MA). Gray for neutral conditions. Trend Analysis: The indicator uses two moving averages to help determine the trend direction. When the fast MA crosses over the slow MA, it suggests a potential change in trend direction, which, combined with RSI conditions, provides a more comprehensive trading signal. Customization: Users can select the type of moving average for all calculations through the "Global MA Type" setting, ensuring consistency in how trends and volatility are interpreted. The Bollinger Bands settings allow for adjustments in length, source, standard deviation, and offset, giving traders control over how volatility is measured. RSI settings include the ability to change the RSI source, length, and overbought/oversold thresholds, which can be fine-tuned to match trading strategies. The option to show or hide moving averages provides clarity on the chart, focusing on either the Bollinger Bands or including the MA crossovers for trend analysis. Usage: This indicator is ideal for traders who incorporate both volatility and momentum in their trading decisions. By observing the color changes in the cloud, along with the position of the price relative to the moving averages, traders can gauge potential entry and exit points. For instance, a green cloud with a price above the slow MA might suggest a strong buying opportunity, while a red cloud with a price below might indicate selling pressure. Conclusion: The Waldo Cloud Bollinger Bands indicator offers a unique blend of volatility, momentum, and trend analysis, providing traders with a multi-faceted view of market conditions. Its customization options make it adaptable to various trading styles and market environments, making it a valuable addition to any trader's toolkit on Trading View.
Indicatore Pine Script®
di RSI_Trading_Concepts
Fear Greed Zones by Relative Strength IndexThis is a visual modification of the relative Strength Index (RSI) to express extreme areas as fear and greed Zones. // Input rsiLength = input.int(14, "RSI Length", minval=1) // RSI calculation rsi = ta.rsi(close, rsiLength) FEAR GREED ZONES The "Fear Greed Zones Script" indicator is designed to help traders identify psychological levels of fear and greed in the market by utilising relative strength index. It primarily utilises the Relative Strength Index of price to gauge market sentiment, with the following key features: Color-Codes Dark Red: Indicates a greed zone , suggesting extreme overbought conditions (high risk) and a possible price reversal downward. Dark Green: Represents a fear zone, indicating extreme oversold conditions (low risk) and potential for price reversal upward. Yellow: Serves as a neutral zone with medium risk. Usage Market Sentiment Analysis: Traders can use the fear and greed zones to assess overall market sentiment, aligning their strategies with prevailing emotional biases. This helps in identifying potential entry and exit points based on market psychology. Risk Management: Understanding fear or greed influences market behavior and allows traders to manage their risk more effectively with the knowledge of high or low risk areas; as they can anticipate potential reversals or continuations in price trends. Conclusion The "Fear Greed Zones" Script is a valuable tool for traders looking to leverage market psychology. By clearly identifying areas where fear or greed may be influencing price movements, it aids in making more informed trading decisions.
Indicatore Pine Script®
di Ifiok-Trades
Crypto Narratives: Relative StrengthThis indicator offers a unique perspective on the crypto market by focusing on the relative strength of different narratives. It aggregates RSI data from multiple tokens associated with each narrative, providing a comprehensive view of the sentiment and momentum behind these themes. You can use it to take profit, find W bottoms or M tops to enter and exit narratives. and generally see what hot at the moment with lots of pretty colours. This indicator tracks the relative strength of various crypto narratives using the Relative Strength Index (RSI) of representative tokens. It allows users to gauge the momentum and sentiment behind different themes in the cryptocurrency market. Functionality: The indicator calculates the average RSI values for the current leading tokens associated with ten different crypto narratives: - AI (Artificial Intelligence) - Ordinals - DeFi (Decentralized Finance) - Memes - Gaming - Level 1 (Layer 1 Protocols) - Sol Betas (Solana Ecosystem) - Storage/DePin - RWA (Real-World Assets) - ReStaking he average RSI values for each narrative are calculated by summing the RSI values of the associated tokens and dividing by the number of tokens. The indicator plots the 3-period simple moving average (SMA) of each narrative's RSI using different colors and line styles. Users can customize the RSI length, line width, and label offset through the input options. If the "Show Labels" option is enabled, the indicator displays labels for each narrative's RSI value on the most recent bar. The indicator also includes horizontal lines representing overbought and oversold levels, which can be adjusted through the input options. Alerts are triggered when a narrative's RSI crosses above the overbought level or below the oversold level. The alerts include the narrative name, RSI value, and a suggestion to consider selling or buying.
Indicatore Pine Script®
di scarf
6
Kshitij Malve - Relative Strength CustomPurpose: This indicator attempts to gauge the relative strength of a stock compared to a broader index (like the Nifty 50) and provide actionable buy, sell, or hold signals. It is designed to be used for shorter-term, intraday trading. Key Features Signal Focus: Generates color-coded visual cues to aid in decision-making: Green: Indicates a potential buy signal Red: Indicates a potential sell signal Blue: Suggests maintaining the current position Trend and Volatility: Combines: The SuperTrend indicator to determine the underlying price trend (uptrend vs. downtrend). Average True Range (ATR) to assess recent market volatility. Strength Check: Incorporates the Relative Strength Index (RSI) to measure if the stock is overbought or oversold relative to the broader index. Logic: (Note: This description assumes the logic you implemented – adapt if your conditions differ) The indicator's core logic suggests: Buy Signal: RSI oversold, market in an uptrend, increased volatility, and price above a short-term moving average. Sell Signal: RSI overbought, market in a downtrend, increased volatility, and price below a short-term moving average. How to Use Add the indicator to a chart of the stock you want to analyze. It will appear in a separate pane below the price chart. Customize input settings if desired (lengths of RSI, SuperTrend, etc.). Consider aligning these with your timeframe and the characteristics of the specific stock and index. Observation: Look for green (buy), red (sell), and blue (hold) signals. Important Notes Confirmation Tool: This indicator works best in conjunction with other forms of technical and fundamental analysis for a comprehensive trading strategy. Market-Specific: The underlying logic may need to be tailored further for specific stock and index combinations to provide the most reliable signals. Disclaimer: Financial markets are risky. Thoroughly backtest and understand the risk profile of any strategy relying on this indicator before using real capital.
Indicatore Pine Script®
di KshitijMalve2
Anchored Relative StrengthThe Anchored Relative Strength (RS) Indicator is a tool designed for traders to compare the performance of a selected stock or security against a benchmark index or another security starting from a specific point in time. Traditional Relative Strength The traditional RS line is a popular tool used to compare the performance of a stock, typically calculated as the ratio of the stock's price to a benchmark index's price. It helps identify outperformers and underperformers relative to the market or a specific sector. The Anchored Approach The Anchored RS line enhances the traditional concept of the RS line by introducing an anchored approach, where calculations begin from a user-defined date. This feature provides the flexibility to start the comparison from a specific historical event, earnings, market peak, trough, or any date significant to the trader's analysis. Calculating Relative Strength The RS value is calculated by dividing the close price of the chosen stock by the close price of the comparative symbol (SPX by default). This calculation is performed for each bar since the Anchor Date. Indicator Features 🔶Custom Start Date 🔶Custom Comparison Symbol 🔶RS Line Moving Average 🔶Comparison Symbol Line 🔶Customize Colors & Appearance Users can change the anchor date simply by clicking on the indicator and dragging the anchor point.
Indicatore Pine Script®
di Amphibiantrading
10
Inverted Relative Strength IndexUnfortunately when using the cmd + I to invert the chart, won't have the same effect on the RSI indicator. The Inverted Relative Strength Index will have the inverted RSI showing in the same direction as the chart that was inverted using the available command in TradingView. Keep in mind that when flipping the chart back to the original direction, the Inverted Relative Strength Index won't flip with it, so you'll need to go back to the regular Relative Strength Index.
Indicatore Pine Script®
di Moraguex
2
Reverse Double Smoothed Relative Strength Index Bands[CC]The Reverse Double Smoothed Relative Strength Index Bands is a custom script of mine that is another part of my RSI indicator series, which I will be publishing over the next week or so. This takes my Double Smoothed Relative Strength Index script and applies the Reverse RSI formula to create a new Bollinger Bands type indicator. This concept can work for almost any oscillator with some slight tweaking. I have a reverse RSI being calculated for each major RSI level to give you an approximation of what the price would look like if that RSI level was hit. Feel free to tweak the RSI levels of course. I will publish more Reverse indicators since that doesn't seem to be a topic that is touched on very frequently. I have color coded the indicator to show darker colors when it is a strong signal and lighter colors for normal signals. Buy when the lines turn green and sell when they turn red. This was a custom request from @kerpiciwuasile so let me know if you want to see me publish another custom script!
Indicatore Pine Script®
di cheatcountry
2
Dynamic Relative StrengthMainly this indicator is a Relative strength indicator which tells us about the strength of a scrip as compared to an index . That is it outperforming the index or underperforming . Outperformance signifies Strength and Under performance signifies Weakness .Inspired from Bharat trader's Relative Strength of a stock , but changing the period for all time frames is a hassle so i have set 10 period for Monthly and 52 period for Weekly. As for monthly we need around 10 months data or we can use 12 as 1 year has 12 months but 10 works best . used 52 period for Weekly time frame because there are 52 weeks in a year. These values are by default dynamically applied to the indicator when weekly or monthly timeframes are chosen . Daily Period can be chosen as per anyone's need . As can be seen in provided screenshot , that the stock has recently started gaining strength on weekly a compared to Small cap100 index . So we can conclude that it has more strength than the overall index it is representing so more chances of outperformance will be there.
Indicatore Pine Script®
di RohitNain
Ehlers Adaptive Relative Strength Index (RSI) [Loxx]Ehlers Adaptive Relative Strength Index (RSI) is an implementation of RSI using Ehlers Autocorrelation Periodogram Algorithm to derive the length input for RSI. Other implementations of Ehers Adaptive RSI rely on the inferior Hilbert Transformer derive the dominant cycle. In his book "Cycle Analytics for Traders Advanced Technical Trading Concepts", John F. Ehlers describes an implementation for Adaptive Relative Strength Index in order to solve for varying length inputs into the classic RSI equation. What is an adaptive cycle, and what is the Autocorrelation Periodogram Algorithm? From his Ehlers' book mentioned above, page 135: "Adaptive filters can have several different meanings. For example, Perry Kaufman’s adaptive moving average (KAMA) and Tushar Chande’s variable index dynamic average (VIDYA) adapt to changes in volatility. By definition, these filters are reactive to price changes, and therefore they close the barn door after the horse is gone.The adaptive filters discussed in this chapter are the familiar Stochastic, relative strength index (RSI), commodity channel index (CCI), and band-pass filter.The key parameter in each case is the look-back period used to calculate the indicator.This look-back period is commonly a fixed value. However, since the measured cycle period is changing, as we have seen in previous chapters, it makes sense to adapt these indicators to the measured cycle period. When tradable market cycles are observed, they tend to persist for a short while.Therefore, by tuning the indicators to the measure cycle period they are optimized for current conditions and can even have predictive characteristics. The dominant cycle period is measured using the autocorrelation periodogram algorithm. That dominant cycle dynamically sets the look-back period for the indicators. I employ my own streamlined computation for the indicators that provide smoother and easier to interpret outputs than traditional methods. Further, the indicator codes have been modified to remove the effects of spectral dilation.This basically creates a whole new set of indicators for your trading arsenal." What is Adaptive RSI? From his Ehlers' book mentioned above, page 137: "The adaptive RSI starts with the computation of the dominant cycle using the autocorrelation periodogram approach. Since the objective is to use only those frequency components passed by the roofing filter, the variable "filt" is used as a data input rather than closing prices. Rather than independently taking the averages of the numerator and denominator, I chose to perform smoothing on the ratio using the SuperSmoother filter. The coefficients for the SuperSmoother filters have previously been computed in the dominant cycle measurement part of the code." Happy trading!
Indicatore Pine Script®
di loxx
1