OPEN-SOURCE SCRIPT

TKE INDICATOR by KıvanÇ fr3762

已更新

TKE INDICATOR is created by Dr Yasar ERDINC (@yerdinc65 on twitter )

It's exactly the arithmetical mean of 7 most commonly used oscillators which are:
RSI
STOCHASTIC
ULTIMATE OSCILLATOR
MFI
WIILIAMS %R
MOMENTUM
CCI

the calculation is simple:

TKE=(RSI+STOCHASTIC+ULTIMATE OSCILLATOR+MFI+WIILIAMS %R+MOMENTUM+CCI)/7

Buy signal: when TKE crosses above 20 value
Oversold region: under 20 value
Overbought region: over 80 value

Another usage of TKE is with its EMA ,
You can add the EMA line of TKE in the settings menu by clicking the "Show EMA Line" button:

the default value is defined as 5 bars of EMA of the TKE line,
Go long: when TKE crosses above EMALine
Go short: when TKE crosses below EMALine

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updated to version 4
added Multiple Time Frame

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TKE has MFI in its calculation. MFI (Money Flow Index) needs volume data.
If your chart doesn't contain volume data, check the "Exclude Volume in Calculation" box in the settings tab.