The default EMA lengths seem to work reasonably well for 1, 2, 3-minute timeframes (except for TICK - you may wish to apply a bit more smoothing to TICK to reduce the noise)
Of course; you can add this indicator to your chart multiple times, and display a different internal each time.
The default Text Color is set as a mid-grey, which is readable in both TV color schemes. I prefer dark mode, and so I change the text color to white. You can't see the scheme setting from within a script, unfortunately, so this can't be automated.
As a free bonus, the indicator can display the 30-bar (default) Pearson Correlation Coefficient between the internal, and price action (based on the super-fast EMA, to give a bit of smoothing). This may give a clue as to whether or not the market is aligned with what the internal is doing, or if the market (today) is not correlated with the particular internal.
Very roughly speaking: - 0.50 means that 50% of the price action can be explained by reference to the internal. This is about the same level of correlation between VIX and Actual Move - 0.80 suggests pretty strong correlation
I don't know why (yet) but sometimes this works, and sometimes it doesn't display a sensible figure.
================================= == QUESTIONS AND FEEDBACK =================================
If you have any general questions about market internals, Google is your friend.
If you have any specific queries, bug reports, feature requests or general feedback about this indicator please leave a comment below, and I'll get back to you ASAP!
發布通知
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Minor update (bugfix?) to allow script to work if SPY is selected (either RTH or Extended)
The default EMA lengths seem to work reasonably well for 1, 2, 3-minute timeframes (except for TICK - you may wish to apply a bit more smoothing to TICK to reduce the noise)
Of course; you can add this indicator to your chart multiple times, and display a different internal each time.
The default Text Color is set as a mid-grey, which is readable in both TV color schemes. I prefer dark mode, and so I change the text color to white. You can't see the scheme setting from within a script, unfortunately, so this can't be automated. notes diesn't seem to ans the que...
JMichaelA
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Would displaying all values for all internals in a table format with simple color coding indicating bullish/bearish be useful? One indicator five internals . Or do you need to see internals been plotted to use them? Anyhow thanks for your work.
Absolute values of internals don't really mean much. It would be easy enough to display numbers in a table, but it would only be of academic interest, and not helpful at all for trading, sorry!
JMichaelA
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@TIG_That-Indicator-Guy, Thanks for reply. I just started using internals. Learning . Really appreciate your work.