Hello guys, another day, another method for detecting support and resistance level. This time it's all about the VWAP and daily gaps it might produce. How does it work? The indicator detects when a new daily candle begins and the VWAP makes a big move in either direction. Often it produces a gap and this is where the support or resistance level will be...
Hey guys, this script shows monthly, weekly and daily OHLC data represented as horizontal level. I tried to make it as user-friendly as possible. Therefore, you can add different colors and styles for each level, as well as turn them on and off. With the "Label Offset" -parameter you are in control where the label text should appear. You can shift it from left...
Introduction Lines are the most widely used figures in technical analysis, this is due to the linear trends that some securities posses (daily log SP500 for example), support and resistances are also responsible for the uses of lines, basically linear support and resistances are made with the assumption that the line connecting two local maximas or minimas will...
Introduction Nothing fancy in terms of code, take this post as an educational post where i provide information rather than an useful tool. Time-Series Forecasting And The Drift Method In time-series analysis one can use many many forecasting methods, some share similarities but they can all by classified in groups and sub-groups, the drift method is a...
English: An expansion of the Advance Decline Line of the NASDAQ. It can be interesting to compare the Advance Decline Line with the corresponding benchmark index. I therefore made a ranking (0 to 100) based on the performance over the last days (default: 21 days). The difference is the target figure and ranges between -100 (bearish divergence) to +100 (bullish...
English: An expansion of the Advance Decline Line of the NYSE. It can be interesting to compare the Advance Decline Line with the corresponding benchmark index. I therefore made a ranking (0 to 100) based on the performance over the last days (default: 21 days). The difference is the target figure and ranges between -100 (bearish divergence) to +100 (bullish...
Based on my latest script "Linear Channels" This is a trailing stop version of the linear channels. Thanks to capissimo for helping me fix several issues with the linear extrapolation part. In order to know how the indicator work i recommend reading the post on the Linear Channels indicator here Hope you like it and feel free to leave your suggestions :)
Introduction I already made an indicator (simple line) that tried to make lines on price such that the results would not repaint and give a good fit to the price, today i publish a channels indicator based on the simple line indicator. The indicator aim to show possible support and resistance levels when the central line posses a low sum of squares with the...
functions using the new line functions in V4 to draw multiple geometric shapes.
Auto trend channel based on donchian or standard deviation.
Just a modification of my old auto-line script, lot of errors fixed and a correction in the standard deviation. Also changed the tittle because "auto-line" was really confusing.
Here is the code of twr indicator I'v already posted a idea about this indicator. You guys can make this chart more complete if you want. Complete indicator is just fixed the color align in some price pattern. The rule is hard to write for me but we have simple version here. :) Read more about tower line: Tower line here Need help about tower line(To add the...
A simple as ass concept that uses modular arithmetic to plot dashed line.
Introduction Making lines is great in technical analysis since it can highlights principal movements and make the analysis of the price easier when using certain methodologies (Elliott Waves, patterns). However most of the indicators making lines (Zig-Zag, simple linear regression) are non causal (repaint), this is the challenge i tried to overcome, making an...
More Efficiency Based on the Auto-Line code, the Efficient Auto Line aim to provide a more controlled adaptivity of the indicator. The first indicator of this sort worked this way : when the absolute difference between the price and the indicator is higher than the previous indicator +/- A pips of amplitude, the indicator will display the closing price, else...
it plots ema - you can choose length it plots a custom price say x it plots price x*factors > 1.0005* price 1.001* price 0.9995* price 0.999* price 1.002* price 1.004* price 1.006* price 1.008* price 1.010* price 1.012* price you can edit these , the scrip is open source it plots ohlc4 and ohlc4* factors 1.0005* ohlc4 1.001* ohlc4 0.9995* ohlc4 0.999* ohlc4 you...
line plot any of the following or any combination of them together: high, low, open, close, hl2, ohlc4