QuickCheck RRS

Reddit (Real Day Trading) scanner/indicator. Orginally posted by reddit.com/user/--SubZer0--/

Please see original post here: reddit.com/r/RealDayTrading/comments/xps3i6/quickcheck_indicator_for_tradingview/




Few things to note:

Very important: Indicators such as this, RVOL and RRS heavily rely on the datafeed that you have as part of your TradingView subscription. The speed of data updates coming through also matter. If you are using the free datafeed and don't pay for extra data sources in TradingView, the output might not be accurate. Discrepancies can be observed on volume (both intra-day and daily), VWAP, and sometimes the latest bid, ask open and close prices. You will see these discrepanices clearly when you compare it with other platforms that have better datafeeds (e.g. ToS).

The RRS and RVOL indicators are optimized for the M5 timeframe, please keep this indicator on your M5 charts. I have not tested this as much with other timeframes

TradingView does not support popping out a separate window and use it as a floating dashboard, like ToS does (it kinda does, but it is very cluttered). The best way right now is to use this indicator inside a chart as an overlay


Here is how it looks.



r/RealDayTrading - QuickCheck - Stock and SPY are in same direction
QuickCheck - Stock and SPY are in same direction

r/RealDayTrading - QuickCheck - Stock and SPY are in opposite direction
QuickCheck - Stock and SPY are in opposite direction


r/RealDayTrading - QuickCheck - Configuration
QuickCheck - Configuration


r/RealDayTrading - QuickCheck - This is how it appears on your chart. The position is configurable
QuickCheck - This is how it appears on your chart. The position is configurable



r/RealDayTrading - QuickCheck - Works in multiple charts at the same time in a grid
QuickCheck - Works in multiple charts at the same time in a grid

TradingView has a richer infrastructure for managing visual layouts, text alignment and string operations in general as compared to ToS, which is what made it possible to have a cleaner output. It also supports unicode, which allows using fancy icons for the up/down status. They're configurable, use whatever works for you!!


The same disclaimers apply from my previous post. Please use this at your own discretion having understood limitations of the datafeed inside TradingView and how this adapts to your strategy.


EDIT: Check top of this post for latest version of source code


Let me know if you have questions or feedback... and special thanks to u/SilverDollarDan for helping me test this indicator.