Range Action Verification Index (RAVI) indicator script. This indicator was originally developed by Tushar Chande (see his book "Beyond Technical Analysis: How to Develop and Implement a Winning Trading System").
Compares the major forex currencies to to each other, good for seeing relative strength and choosing trading pairs based on that.
Original script is by @aelius from 2016. I just made it a bit more responsive, easier on the eye, and I added labels.
Republished: The original script violated house rules by including an external link to Backtest Rookies.
The currency strength indicator takes up to 4 forex pairs and calculates the average strength across all pairs. The indicator uses the pair's daily percentage change to calculate the overall strength. For flexibility, it can accept any...
here is my first script.
This is the normal 14 period ADX,
but with a color twist, to make it extremely easy on eyes.
easily spot the strength.
ADX, as you know, shows the strength of the trend.
As short term traders, we need price movement and a strong trend.
How to use this script ?
1. We don't trade when ADX is in the ...
This will show you the RSI of the higher timeframes (up to 1D). Current Timeframe is colored red, higher timeframes are colored from light gray to darker gray (you can change that).
There are several ways to enter a trade:
1. look for rising RSI on higher timeframe (line is stepping up in indicator window), wait for current RSI to decline to oversold (with...
Why use RSI Candles instead of a normal RSI? Because it removes screen clutter, and it also allows you to clearly see what level of overbought/oversold the candle is really at. Sometimes, it is hard to tell that a candle is overbought/oversold or very overbought/sold when it is exactly at 70 or 80. (as shown by arrows, scroll left on chart)
Original RSI Candles...
KISS Addie is the ADX and DI+- indicator and is part of the 'keeping it simple' series. ADX is your Average Directional Index and DI is you Directional Movement Indicator.
ADX - Will show the strength of the trend regardless of direction.
00 - 10 : No trend
10 - 20 : Transitioning trend
20 - 40 : Trending
40 - 99 : Exhausted (Can also be considered a stronger...
This is version 1 of the Linear Regression Slope. In ideal world the Linear regression slope values will remain same for any time period length. because the equation is y = mx+b, where m is the slope. All I did here is m = y/x
The Main Purpose of this indicator is to see, if the Trend is accelerating or decelerating.
The first Blue bar will caution when a...
Instead of calculating Relative Strength(RS) of Price(RSI), this calculates RS of Moving Average(RSIOMA).
See www.earnforex.com for more info and metatrader version.
Credit goes to Kalenzo from the Forex TSD forum www.forex-tsd.com
I easily modified the default RSI in trading...
Code written by Krishna Khanna on 20/11/2017 includes the following components for NimblrTA
1) Logic for detection of strength candles, only displayed candles are of strength (BH>50%CH)
2) Wicks are not considered
3) Any Gaps are indicated with a arrow, can detect gapup and gapdown
This indicator is apt for small screen devices
I wrote this indicator as an attempt to see the Relative Strengths of different sectors in the same scale, but there is also other ways to do that.
This indicator plots the normal distribution for the 10 sectors of the SPY for the last X bars of the selected resolution, based on the selected comparative security. It shows which sectors are outperforming and...