I always wanted a better way to visualize what the stochastic indicator was telling me, so I built it myself. As you can see in the screenshot, the StochMaster generates an ActionZone seen as the red and green rectangles. Since nobody knows what price will do as it exits the Zone in either direction, I color-coded the upper and lower regions. Watch how price respects the median line of the Zone. It's quite impressive, right? Then, let your eye extend the Zone (as in the upper left where two high Zones have formed), and you'll notice that Zones have staying power and are areas to be respected later on. The green and red dots are where price left the overbought or oversold regions in the subpanel. As usual, everything is adjustable in the Properties. There is also an RSI component to help filter the signals. The 'Flatness' property is used to describe the slope of the RSI. When the RSI is flat, StochMaster signals are reduced. The value can range range from .1 to 100, but I usually keep it set at 3. Experiment with it and find out what setting works best with each instrument and period.
The chart also has my dpDPO on it. The ADX component of it is the thick black border of some of the candles. It tells you where strength is.
If you run into any issues with this, please let me know. If you think this is pretty cool, please let others know by leaving a great comment.
Thanks,
Dave P.
Note: If you find bugs, have feature requests, or anything else, post in THIS thread.
This is the HARSI indicator, requested in THIS thread.
This indicator is a port from TradingView. This indicator was originally created by a gentleman named JayRogers. If you want more info on this indicator, go HERE.
Most of the items in the settings should be self-explanatory.
The customization for the horizontal lines, and plots are near the bottom of the UI, if the styling or levels need to be changed.
The Stochastic Ribbon(blue/red lines) is disabled by default. If you use the ribbon, and the ribbon is taller than you want, you can use the "Stoch Scaler" input to scale it to a percentage of its normal size.
The RSI histogram is the same as the regular RSI(yellow line), so the histogram is also disabled by default.
For coders interested in pulling the HA levels for strategies... The bars are created within onRender(), so there is no actual object for the bars on the chart. There is however, and exposed data series for the OHLC values of the HA bars. The four individual data series are called, openHA[0], highHA[0], lowHA[0], closeHA[0] respectively.
NOTE: Installing this indicator will create a folder called "BTMM," that's where the indicator will be.
---EDIT - V2 13May2022---
*Added Null/Bars check to OnRender() method.
*Removed logic to attempt to automatically set the LINES for the Stochastics to transparent, when using 'ribbon' mode for the Stochastics. This might cause error in the case a user switches back and fourth.
This is an RSI with Dynamic zones with a Smoothing algorithm. It was translated from an MT4 indicator written and shared by Mladen, and now we can use it in Multicharts.
If you Download the Indicator and like please click on the thanks button.
Description:
Uses the Reverse Engineered RSI indicator to determine trend. Fifty on the RSI marks the point where the average of up closes is equal to the average of down closes. If the RSI is above this point the average of the up closes is greater that the down closes and vice versa. Instead of using 50 as the point of demarcation, this indicator accounts for noise by defining upper and lower boundaries above and below 50 (default of 52 for upper and 48 for lower). An uptrend is signaled when a low is printed above the upper boundary plot and a downtrend when a high is printed below the lower boundary plot.
Plots for standard deviation or ATR bands are an additional option that can be employed. The upper deviation plot is a multiple of the StdDev or ATR added to the upper boundary plot. The lower deviation plot uses this same deviation value and subtracts it from the lower boundary plot.
It is an RSI oscillator with a smoothing moving average. Four zones are drawn with user selectable colors and opacity. The zone sizes are also user defined.
This will give you a quick visual idea on the location of the RSI, among other things.
It can be combined with other indicators, such Stochastics and CCI, by using Transparent colors for the built in RSI indicator.
Created by Larry Connors, this indicator is a composite of three separate components. Two of the three components utilize the Relative Strength Index (RSI) calculations developed by Welles Wilder in the 1970’s, and the third component ranks the most recent price change on a scale of 0 to 100.
In effect, the three components combine to form a momentum oscillator. The output value between 0 and 100 then identifies short-term overbought and oversold conditions.
The Slow Relative Strength Index (SRSI) is an oscillator which was presented by Vitali Apirine in the April 2015 issue of Stocks & Commodities.
The SRSI is a momentum oscillator derived from the RSI developed by Welles Wilder in 1978. Where the RSI takes into account price moves relative to the prior bar's close, the SRSI compares the current price to an exponential moving average. The SRSI uses the same scale as the RSI. A value above 80 is considered as overbought, whereas a value below 20 indicates an oversold condition.
Compared to the RSI, the SRSI is supposed to generate stronger long term signals, but weaker short term signals. I have added a signal line to the indicator.
Nota: I saw that another version of the SRSI has already been posted. That version is not adapted to work with bar types that support RemoveLastBar() such as Renko bars or Linebreak bars.
Nota: There is another version of the SRSI posted, which will not work correctly with bar types that support RemoveLastBar().
The Traders Dynamic Index (TDI) is a trend following momentum indicator based on the RSI. It was developed and presented by Dean Malone. The Traders Dynamic Index comes with the following plots
- the Priceline, which is a SMA(2) of RSI(13)
- the Signalline, which is a SMA(7) of RSI (13)
- the Midband, which is a SMA(34) of RSI (13)
- Bollinger Bands around the SMA(34) using a standard deviation multiplier of 1.62
The following combinations may be considered as trade rules:
- go long, if Priceline > 50
- go short if Priceline < 50
- consider an exit, if Priceline is above 68 or below 32
- go long if Priceline > Signalline
- go short if Priceline < Signalline
- exit if Priceline crosses Signalline
- trendfilter long, when Priceline > Midband
- trendfilter short, when Priceline < Midband
- add to long, when Priceline > upper Bollinger Band
- add to short, when Priceline < lower Bollinger Band
Detailed rules how to use the Traders Dynamic Index have been published by Dean Malone within the framework of the E.A.S.Y. trading method.
August 29th, 2023 01:37 PM Maxie thanks for sharing
June 20th, 2023 01:01 PM peter1 Thank you for sharing it.
December 3rd, 2022 03:02 PM candy
November 28th, 2022 08:58 AM ballhaj Awsome indicator thanks
October 9th, 2021 12:15 PM racecarjw GB, your mind works in a strange but good way. I cant wait to try this out in real market conditions. Thank you for shar