Relative Strength and MomentumRelative Strength and Momentum Indicator
Unlock deeper market insights with the Relative Strength and Momentum Indicator—a powerful tool designed to help traders and investors identify the strongest stocks and sectors based on relative performance. This custom indicator displays essential information on relative strength and momentum for up to 15 different symbols, compared against a benchmark index, all within a clear and organized table format.
Key Features:
1. Customizable Inputs: Choose up to 15 symbols to compare, along with a benchmark index, allowing you to tailor the indicator to your trading strategy. The 'Lookback Period' input defines how many weeks of data are analyzed for relative strength and momentum.
2. Relative Strength Calculation: For each selected symbol, the indicator calculates the Relative Strength (RS) against the chosen benchmark. This RS is further refined using an exponential moving average (EMA) to smooth the results, providing a more stable trend overview.
3. Momentum Analysis: Momentum is determined by analyzing the rate of change in relative strength. The indicator calculates a momentum rank for each symbol, based on its relative strength’s improvement or deterioration.
4. Percentile Ranking System: Each symbol is assigned a percentile rank (from 1 to 100) based on its relative strength compared to the others. Similarly, momentum rankings are also assigned from 1 to 100, offering a clear understanding of which assets are outperforming or underperforming.
5. Visual Indicators:
a. Green: Signals improving or stable relative strength and momentum.
b. Red: Indicates declining relative strength or momentum.
c. Aqua: Highlights symbols performing well on both relative strength and momentum—ideal candidates for further analysis.
6. Two Clear Tables:
a. Relative Strength Rank Table: Displays weekly rankings of relative strength for each symbol.
b. Momentum Table: Shows momentum trends, helping you identify which symbols are gaining or losing strength.
7. Color-Coded for Easy Analysis: The tables are color-coded to make analysis quick and straightforward. A green color means the symbol is performing well in terms of relative strength or momentum, while red indicates weaker performance. Aqua marks symbols that are excelling in both areas.
Use Case:
a. Sector Comparison: Identify which sectors or indexes are showing both relative strength and momentum to pick high-potential stocks. This allows you to align with broader market trends for improved trade entries.
b. Stock Selection: Quickly compare symbols within the same sector to find the stronger performers.
Momentumtrading
Bitcoin Momentum StrategyThis is a very simple long-only strategy I've used since December 2022 to manage my Bitcoin position.
I'm sharing it as an open-source script for other traders to learn from the code and adapt it to their liking if they find the system concept interesting.
General Overview
Always do your own research and backtesting - this script is not intended to be traded blindly (no script should be) and I've done limited testing on other markets beyond Ethereum and BTC, it's just a template to tweak and play with and make into one's own.
The results shown in the strategy tester are from Bitcoin's inception so as to get a large sample size of trades, and potential returns have diminished significantly as BTC has grown to become a mega cap asset, but the script includes a date filter for backtesting and it has still performed solidly in recent years (speaking from personal experience using it myself - DYOR with the date filter).
The main advantage of this system in my opinion is in limiting the max drawdown significantly versus buy & hodl. Theoretically much better returns can be made by just holding, but that's also a good way to lose 70%+ of your capital in the inevitable bear markets (also speaking from experience).
In saying all of that, the future is fundamentally unknowable and past results in no way guarantee future performance.
System Concept:
Capture as much Bitcoin upside volatility as possible while side-stepping downside volatility as quickly as possible.
The system uses a simple but clever momentum-style trailing stop technique I learned from one of my trading mentors who uses this approach on momentum/trend-following stock market systems.
Basically, the system "ratchets" up the stop-loss to be much tighter during high bearish volatility to protect open profits from downside moves, but loosens the stop loss during sustained bullish momentum to let the position ride.
It is invested most of the time, unless BTC is trading below its 20-week EMA in which case it stays in cash/USDT to avoid holding through bear markets. It only trades one position (no pyramiding) and does not trade short, but can easily be tweaked to do whatever you like if you know what you're doing in Pine.
Default parameters:
HTF: Weekly Chart
EMA: 20-Period
ATR: 5-period
Bar Lookback: 7
Entry Rule #1:
Bitcoin's current price must be trading above its higher-timeframe EMA (Weekly 20 EMA).
Entry Rule #2:
Bitcoin must not be in 'caution' condition (no large bearish volatility swings recently).
Enter at next bar's open if conditions are met and we are not already involved in a trade.
"Caution" Condition:
Defined as true if BTC's recent 7-bar swing high minus current bar's low is > 1.5x ATR, or Daily close < Daily 20-EMA.
Trailing Stop:
Stop is trailed 1 ATR from recent swing high, or 20% of ATR if in caution condition (ie. 0.2 ATR).
Exit on next bar open upon a close below stop loss.
I typically use a limit order to open & exit trades as close to the open price as possible to reduce slippage, but the strategy script uses market orders.
I've never had any issues getting filled on limit orders close to the market price with BTC on the Daily timeframe, but if the exchange has relatively low slippage I've found market orders work fine too without much impact on the results particularly since BTC has consistently remained above $20k and highly liquid.
Cost of Trading:
The script uses no leverage and a default total round-trip commission of 0.3% which is what I pay on my exchange based on their tier structure, but this can vary widely from exchange to exchange and higher commission fees will have a significantly negative impact on realized gains so make sure to always input the correct theoretical commission cost when backtesting any script.
Static slippage is difficult to estimate in the strategy tester given the wide range of prices & liquidity BTC has experienced over the years and it largely depends on position size, I set it to 150 points per buy or sell as BTC is currently very liquid on the exchange I trade and I use limit orders where possible to enter/exit positions as close as possible to the market's open price as it significantly limits my slippage.
But again, this can vary a lot from exchange to exchange (for better or worse) and if BTC volatility is high at the time of execution this can have a negative impact on slippage and therefore real performance, so make sure to adjust it according to your exchange's tendencies.
Tax considerations should also be made based on short-term trade frequency if crypto profits are treated as a CGT event in your region.
Summary:
A simple, but effective and fairly robust system that achieves the goals I set for it.
From my preliminary testing it appears it may also work on altcoins but it might need a bit of tweaking/loosening with the trailing stop distance as the default parameters are designed to work with Bitcoin which obviously behaves very differently to smaller cap assets.
Good luck out there!
Gold & Silver Scanner Pro [FxScripts]***** FEATURES *****
Gold & Silver Scanner Pro is both a multi-functional indicator and market scanner combined. The combination allows you to have multiple eyes across the market, all from a single chart.
The scanner is comprised of an intuitively designed 3-in-1 tool that tracks the key metrics that drive markets. Each use advanced algorithms to gather information from multiple data points, distilled into one simplified view.
***** TREND SCANNER *****
The first indicator featured on the chart is the Trend Scanner, this allows you to track price action across the wider market. Instantly see pattern shifts and emerging trends; when the market moves, you move with it.
***** MOMENTUM SCANNER *****
The second is the Momentum Scanner which offers a realtime representation of momentum shifts as they occur. This allows you to monitor false breakouts and catch the moves that matter.
***** VOLUME SCANNER *****
The third is the Volume Scanner which provides unique insight into where buy and sell volume is being placed across the market. It offers a further way of determining entry and exit points or simply confirmation that a trend is underway.
***** HOW IT WORKS *****
1. The scanner surveys the market looking for strengths and weaknesses in Trend, Momentum or Volume.
2. It displays the underlying strength or weakness as a series of dots with up to nine green dots showing strength and up to nine red dots showing weakness (nine data points in total).
3. Lighter colored dots are displayed where the strength of the trend, momentum or volume is lesser; if a dot is missing this is a sign of market neutrality.
4. All scanners have a sensitivity setting plus a volatility filter which can be adjusted according to your style of trading and the underlying instrument (full details below).
5. The background can be set to color-fill when the majority of dots are coloured either red or green, with higher values denoting greater strength or greater weakness.
6. Alerts can be configured in the same way as the background to provide both entry and exit signals (further details below).
***** INSTRUMENTS *****
Gold & Silver Scanner Pro works effortlessly with any of the XAG and XAU major or minor crosses:
XAGAUD, XAGCHF, XAGEUR, XAGGBP, XAGJPY, XAGUSD, XAUAUD, XAUCHF, XAUEUR, XAUGBP, XAUJPY, XAUUSD
Plus the following gold and silver futures:
GC, SI
***** SETTINGS OVERVIEW *****
The scanner features the following customizable settings:
~~ Trend Settings ~~
▶ Trend Filter - adjusting this will allow you to focus on short term trends (most suitable for scalping), medium or long term (best for swing trading).
▶ Countertrend Strength - increases the sensitivity of weaker vs stronger countertrends. As countertrends are trends that run against the main trend, this will assist in detecting the strength of a pullback or reversal and allow you to either hold, exit or reverse the trade with confidence.
~~ Momentum Settings ~~
▶ Momentum Filter - increase or decrease the sensitivity of the momentum scanner. Increase to avoid periods of low or weak momentum, decrease to highlight stronger surges in momentum.
~~ Volume Settings ~~
▶ Volume Filter - increase or decrease the sensitivity of the volume scanner. Increase to avoid periods where buy and sell volume can potentially cancel each other out.
~~ Volatility Settings ~~
▶ Volatility Offset - use this to fine tune the volatility filter. A higher value generally delays the volatility filter allowing for confirmation of stronger trends, a lower value will detect trend, momentum or volume movement sooner but may be less accurate.
▶ Each scanner has its own setting allowing you to adjust how you monitor the underlying volatility for each.
▶ As with all settings, we recommend adjusting this to your style of trading, instrument and timeframe.
~~ Alerts ~~
Alerts can be configured to send notifications when anything from 5-9 bullish or bearish dots are showing. Exit markers can be configured when anything from 2+ dots are revealed. This adds an extra layer of sensitivity for traders who appreciate complete control over their trade.
~~ Display Settings ~~
You have the ability to hide all colored dots and only show the background or, alternatively, hide the background and only show colored dots.
***** TRIAL PERIOD *****
We offer a FREE, no questions asked, 7-day trial with every new registration. Visit the link below to register.
Crypto Scanner Pro [FxScripts]***** FEATURES *****
Crypto Scanner Pro is both an indicator and market scanner combined. The combination allows you to have multiple eyes across the market, all from a single chart.
Each scanner is comprised of an intuitively designed 3-in-1 tool that tracks the key metrics that drive markets.
They each use advanced algorithms to gather information from multiple data points, distilled into one simplified view.
***** TREND SCANNER *****
The Trend Scanner allows you to track price action across the wider market. Instantly see pattern shifts and emerging trends; when the market moves, you can move with it.
***** MOMENTUM SCANNER *****
The Momentum Scanner offers realtime insights into momentum shifts as they occur. This allows you to monitor false breakouts and catch the moves that matter.
***** VOLUME SCANNER *****
The Volume Scanner provides unique indications into where buy and sell volume is being placed. It offers a further way of determining entry and exit points or simply confirmation that a trend is underway.
***** INSTRUMENTS *****
Crypto Scanner Pro works effortlessly with the following large cap coins:
Avalanche, Bitcoin Cash, Bitcoin, BITO, BNB, Cardano, Chainlink, Dogecoin, Ethereum, Litecoin, Polkadot, Polygon, Shiba Inu, Solana, Stellar, Toncoin, XRP (Ripple) *
***** SETTINGS OVERVIEW *****
The scanner features the following customizable settings:
~~ Trend Settings ~~
Trend Filter - adjusting this will allow you to focus on short term trends (most suitable for scalping), medium or long term (best for swing trading).
Countertrend Strength - increases the sensitivity of weaker vs stronger countertrends. As countertrends are trends that run against the main trend, this will assist in detecting the strength of a pullback or reversal and allow you to either hold, exit or reverse the trade with confidence.
~~ Momentum Settings ~~
Momentum Filter - increase or decrease the sensitivity of the momentum scanner. Increase to avoid periods of low or weak momentum, decrease to highlight stronger surges in momentum.
~~ Volume Settings ~~
Volume Filter - increase or decrease the sensitivity of the volume scanner. Increase to avoid periods where buy and sell volume can potentially cancel each other out.
~~ Volatility Settings ~~
Volatility Offset - use this to fine tune the volatility filter. A higher value generally delays the volatility filter allowing for confirmation of stronger trends, a lower value will detect trend, momentum or volume movement sooner but may be less accurate.
Each scanner has its own setting allowing you to adjust how you monitor the underlying volatility for each.
As with all settings, we recommend adjusting this to your style of trading, instrument and timeframe.
~~ Alerts ~~
Alerts can be configured to send notifications when anything from 6-10 bullish or bearish dots are showing. Exit markers can be configured when anything from 2+ dots are revealed. This adds an extra layer of sensitivity for traders who appreciate complete control over their trade.
~~ Display Settings ~~
You have the ability to hide all colored dots and only show the background or, alternatively, hide the background and only show colored dots.
***** TRIAL PERIOD *****
We offer a FREE, no questions asked, 7-day trial with every new registration. Visit the link below to register.
* list subject to change as coins increase or decrease in popularity
ADX Momentum Shaded CandlesDescription:
The "ADX Momentum Shaded Candles" indicator (ADXMSC) is an overlay indicator that enhances candlestick charts by adding shading based on the momentum derived from the Average Directional Index (ADX). This indicator provides visual cues about the strength of bullish and bearish momentum by adjusting the transparency of the candlesticks.
How it Works:
The indicator utilizes the ADX indicator to calculate the values of +DI (Directional Indicator Plus) and -DI (Directional Indicator Minus) based on user-defined parameters. It then determines the transparency levels for the bullish and bearish candlesticks based on the calculated values of +DI and -DI. Higher values of +DI or -DI result in lower transparency levels, while lower values increase transparency.
Transparency Calculation:
The transparency of the bullish and bearish candlesticks is adjusted based on the values of +DI and -DI, which reflect the momentum of the price movement. Transparency is inversely proportional to these values, with higher values resulting in lower transparency. To calculate transparency, the indicator uses the formula 100 minus the value of +DI or -DI multiplied by 2. This ensures that higher values of +DI or -DI produce more opaque candlesticks.
Usage:
To effectively use the "ADX Momentum Shaded Candles" indicator (ADXMSC), follow these steps:
1. Apply the indicator to your chart by adding it from the available indicators.
2. Observe the candlesticks on the chart:
- Bullish candlesticks are represented by the original bullish color with adjusted transparency.
- Bearish candlesticks are represented by the original bearish color with adjusted transparency.
3. Analyze the transparency levels of the candlesticks to assess the strength of bullish and bearish momentum. Less transparent candlesticks indicate stronger momentum, while more transparent ones suggest weaker momentum.
4. Combine the visual information from the shaded candlesticks with other technical analysis tools, such as support and resistance levels, trend lines, or oscillators, to confirm potential trade opportunities.
5. Customize the indicator's parameters, such as the ADX length and smoothing, to suit your trading preferences.
6. Implement appropriate risk management strategies, including setting stop-loss orders and position sizing, to manage your trades effectively and protect your capital.
Dynamo
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Overview
Dynamo is built to be the Swiss-knife for price-movement & strength detection, it aims to provide a holistic view of the current price across multiple dimensions. This is achieved by combining 3 very specific indicators(RSI, Stochastic & ADX) into a single view. Each of which serve a different purpose, and collectively provide a simple, yet powerful tool to gauge the true nature of price-action.
Background
Dynamo uses 3 technical analysis tools in conjunction to provide better insights into price movement, they are briefly explained below:
Relative Strength Index(RSI)
RSI is a popular indicator that is often used to measure the velocity of price change & the intensity of directional moves. RSI computes the relative strength of the current price by comparing the security’s bullish strength versus bearish strength for a given period, i.e. by comparing average gain to average loss.
It is a range bound(0-100) variable that generates a bullish reading if average gain is higher, and a bullish reading if average loss is higher. Values over 50 are generally considered bullish & values less than 50 indicate a bearish market. Values over 70 indicate an overbought condition, and values below 30 indicate oversold condition.
Stochastic
Stochastic is an indicator that aims to measure the momentum in the market, by comparing most recent closing price of the security to its price range for a given period. It is based on the assumption that price tends to close near the recent high in an up trend, and it closes near the recent low during a down trend.
It is also range bound(0-100), values over 80 indicate overbought condition and values below 20 indicate oversold condition.
Average Directional Index(ADX)
ADX is an indicator that can quantify trend strength, it is derived from two underlying indices, known as Directional Movement Index(DMI). +DMI represents strength of the up trend, and -DMI represents strength of the down trend, and ADX is the average of the two.
ADX is non-directional or trend-neutral, which means, it does not follow the direction of the price, instead ADX will rise only when there is a strong trend, it does not matter if it’s an up trend or a down trend. Typical ranges of ADX are 25-50 for a strong trend, anything below 25 is considered as no trend or weak trend. ADX can frequently shoot upto higher values, but it generally finds exhaustion levels around the 60-75 range.
About the script
All these indicators are very powerful tools, but just like any other indicator they have their limitations. Stochastic & ADX can generate false signals in volatile markets, meaning price wouldn’t always follow through with what’s being indicated. ADX may even fail to generate a signal in less volatile markets, simply because it is based on moving averages, it tends to react slower to price changes. RSI can also lose it’s effectiveness when markets are trending strong, as it can stay in the overbought or oversold ranges for an extended period of time.
Dynamo aims to provide the trader with a much broader perspective by bringing together these contrasting indicators into a single simplified view. When Stochastic becomes less reliable in highly volatile conditions, one can cross validate their deduction by looking at RSI patterns. When RSI gets stuck in overbought or oversold range, one can refer to ADX to get better picture about the current trend. Similarly, various combinations of rules & setups can be formulated to get a more deterministic view, when working with either of these indicators.
There many possible use cases for a tool like this, and it totally depends on how you want to use it. An obvious option is to use it to trigger signals only after it has been confirmed by two or more indicators, for example, RSI & Stochastic make a great combination for cross-over or cross-under strategies. Some of the other options include trend detection, strength detection, reversals or price rejection points, possible duration of a trend, and all of these can very easily be translated into effective entry and exit points for trades.
How to use it
Dynamo is an easy-to-use tool, just add it to your chart and you’re good to start with your market analysis. Output consists of three overlapping plots, each of which tackle price movement from a slightly different angle.
Stochastic: A momentum indicator that plots the current closing price in relation to the price-range over a given period of time.
Can be used to detect the direction of the price movement, potential reversals, or duration of an up/down move.
Plotted as grey coloured histograms in the background.
Relative Strength Index(RSI): RSI is also a momentum indicator that measures the velocity with which the price changes.
Can be used to detect the speed of the price movement, RSI divergences can be a nice way to detect directional changes.
Plotted as an aqua coloured line.
Average Directional Index(ADX): ADX is an indicator that is used to measure the strength of the current trend.
Can be used to measure how strong the price movement is, both up and down, or to establish long terms trends.
Plotted as an orange coloured line.
Features
Provides a well-rounded view of the market movement by amalgamating some of the best strength indicators, helping traders make better informed decisions with minimal effort.
Simplistic plots that aim to convey clean signals, as a result, reducing clutter on the chart, and hopefully in the trader's head too.
Combines different types of indicators into a single view, which leads to an optimised use of the precious screen real-estate.
Final Note
Dynamo is designed to be minimalistic in functionality and in appearance, as it is being built to be a general purpose tool that is not only beginner friendly, but can also be highly-configurable to meet the needs of pro traders.
Thresholds & default values for the indicators are only suggestions based on industry standards, they may not be an exact match for all markets & conditions. Hence, it is advisable for the user to test & adjust these values according their securities and trading styles.
The chart highlights one of many possible setups using this tool, and it can used to create various types of setups & strategies, but it is also worth noting that the usability & the effectiveness of this tool also depends on the user’s understanding & interpretation of the underlying indicators.
Lastly, this tool is only an indicator and should only be perceived that way. It does not guarantee anything, and the user should do their own research before committing to trades based on any indicator.
Fisher Transform [Loxx]The Fisher Transform is a technical indicator created by John F. Ehlers that converts prices into a Gaussian normal distribution. The indicator highlights when prices have moved to an extreme, based on recent prices. This may help in spotting turning points in the price of an asset.
What's different between this and regular Fisher Transform?
This version of Fisher Transform morphs the original Fisher Transform concept into a high-powered trading tool that works for all asset classes and all timeframes. There are 1000s of potential combinations of signal output between source selection and filtering preferences. Additional sources, volatility types, and moving averages will be added over time in future releases.
Sources
Loxx's Expanded Source Types enabling ~100 variations of source input including all Heikin Ashi and Better Heikin Ashi types. See here for more information here:
Signals
Initial Long "L": Zero-line or trigger/signal cross-up
Initial Short "L": Zero-line cross-down or trigger/signal cross-down
Continuation Long "CL": When price is in uptrend, cross-up trigger over signal
Continuation Short "CS": When price is in downtrend, cross-down trigger under signal
Post Baseline Cross Long "BL": When trigger and signal cross-up over zero-line but Baseline is still in downtrend, then if Baseline finally turns to uptrend within XX bars, then long
Post Baseline Cross Short "BS": When trigger and signal cross-down under zero-line but Baseline is still in uptrend, then if Baseline finally turns to downtrend within XX bars, then short
Long Exit "LX": When trigger is over XX boundary and trigger crosses down signal
Short Exit "SX": When trigger is under XX boundary and trigger crosses up signal
Filters
Baseline filter
41 Different moving averages to choose from including moving averages including Loxx's Moving Averages. See here for more information on included moving averages:
If the Baseline filter is turned on, the Post Baseline Cross signals are activated. For all Baseline types, the trigger is close, the signal is the moving average. If the trigger is above the signal, price is in an uptrend, if trigger is below the signal, price is in a downtrend. When this selected, the trend of the baseline must match the trend of the Fisher Transform for the signal to be valid.
Volatility filter
Volatility : If price crosses the baseline, we check to see how far it has moved in terms of multiples of volatility denoted in price ( volatility in price x multiple). If price has moved by at least "Qualifier multiplier" and less than "Range Multiplier", then, assuming other factors align in one direction, then a signal is printed
Volatility Types
v1.0 Included Volatility
Average True Range (ATR)
True Range Double (TRD)
Alerts
Includes alerts for all signal types listed above
UI Options
5 color schemes
5 trend coloring schemes
Ability to turn signals on/off
Fisher Transform Backtest
Momentum Scalping & Swing Signals With AlertsThis Momentum indicator shows a green or red ribbon when smoothed momentum is bullish or bearish. It also includes a long moving average for overall trend confirmation. Wait until the ribbon holds above or below the long moving average and take positions in that direction.
To get an easier to read momentum indicator, I smoothed the momentum out and paired it next to a short term RMA. These two together form the ribbon that will show you early reversals and trend direction. The long moving average is used as an overall trend detector and confirmation for longer term trends.
***HOW TO USE***
Scalping: Enter longs when the ribbon turns green and enter shorts when the ribbon turns red. Exit positions when the ribbon turns the opposite color or crosses the long moving average.
Swing Trading: When the ribbon holds above the long moving average or breaks out and retests it, look for long positions and exit when the ribbon turns red or crosses the long moving average. When the ribbon holds below the long moving average or breaks down and retests it, look for short positions and exit when the ribbon turns green or crosses the long moving average.
***DETAILS***
This indicator gives early reversal signals very well and waiting for the momentum ribbon to cross the long moving average helps to get you into positions when the market is ready to really move while filtering out some of the noise.
The ribbon and background will change to green or red depending on whether it is currently bullish or bearish.
There is also a label that changes colors and tells you if momentum is bullish or bearish and also whether the momentum ribbon is above or below the long moving average.
Green or red circles will appear on the indicator when there is a bullish or bearish cross of the momentum ribbon and the long moving average.
It includes alerts that trigger when momentum is turning bullish/bearish or when the momentum ribbon is crossing the long moving average.
***CUSTOMIZATION***
Each piece of this indicator can be customized to suit your preferences including the momentum source, length, smoothing length, short moving average length and long moving average length. You can also turn off the labels, signals and long moving average. All of these settings can be managed within the indicator settings input tab.
***MARKETS***
This indicator can be used as a signal on all markets, including stocks, crypto, futures and forex.
***TIMEFRAMES***
This Momentum Scalping & Swing Signals indicator can be used on all timeframes.
***TIPS***
Try using numerous indicators of ours on your chart so you can instantly see the bullish or bearish trend of multiple indicators in real time without having to analyze the data. Some of our favorites are Trend Friend Scalp & Swing Trade Signals, Volume Spike Scanner, Buy & Sell Pressure Volume Profile, and RSI Scalper in combination with this momentum indicator. They all have real time Bullish and Bearish labels as well so you can immediately understand each indicator's trend.
Trend & Momentum V2Declutter your charts. Simple indicator combining trend and momentum using Moving Average (currently default to 9-day EMA) and RSI (default length of 8). A long signal is generated when the price closes above the moving average and the moving average color turns red to green which indicated that the momentum measured using RSI is greater than 50. A short signal is generated when the price closes below the moving average and the moving average color turns green to red indicating RSI is below 50. Confirmation is done if there is no reversal on the next candle. For best results use multiple timeframe charts to trade on the right side of trend and momentum.
Momentum With Bullish & Bearish LabelMOMENTUM WITH BULLISH AND BEARISH SIGNALS
This is a momentum oscillator that paints red or green depending on whether Momentum is above or below the zero line. It includes a label on the right hand side that will reflect the bullish or bearish direction of the current momentum by changing colors to red or green and text telling you Bullish or Bearish.
***HOW TO USE***
When Momentum is above zero, it is bullish. When Momentum is below zero it is bearish.
A label on the right side will update in real time to tell you if momentum is Bullish or Bearish for faster recognition of the trend.
When momentum is above the zero line(Bullish) but trending downward, a second label will show up in purple to notify you of a change in momentum direction.
When momentum is below the zero line(Bearish) but trending upward, a second label will show up in purple to notify you of a change in momentum direction.
This indicator was built to help you quickly identify the Bullish or Bearish nature of the current Momentum using colors as well as a live color changing label so you can glance at the label and understand it's direction without analyzing the indicator data.
***MARKETS***
This indicator can be used as a signal on all markets, including stocks, crypto, futures and forex.
***TIMEFRAMES***
This momentum indicator can be used on all timeframes.
***TIPS***
Try using numerous indicators of ours on your chart so you can instantly see the bullish or bearish trend of multiple indicators in real time without having to analyze the data. Some of our favorites are our Auto Fibonacci, Directional Movement Index, Volume Profile, Auto Support And Resistance and Money Flow Index in combination with this Momentum Oscillator. They all have real time Bullish and Bearish labels as well so you can immediately understand each indicator's trend.
TradeWithAB Signal IndicatorThis indicator specifically designed for Momentum trading by an Intraday trader on index( Nifty , BankNifty ) and Equity stocks. This indicator works with DMI and PRICE ACTIONS which gives automated Buy and Sell signals along with Stop loss and Trailing Stop loss when certain criteria are met. It is not a Holy Grail system that gives you continuous profits and it has some limited downfalls also which can be controlled by proper risk Management and position sizing. This is a premium invite only indicator which can be use after given access to you by us. There are some guidelines on how to use this indicator which are given below and you have to follow these guidelines very strictly to get the maximum results.
Guidelines :-
1. Timeframe - 5 min
2. Period should be changed on daily basis(if required) for index trading.
3. Period value would be basically derived from IND VIX value (closest integer) divided by 2.
Ex 1. If the VIX value is 23.56, then it will be consider as 24. So the period value will be 24/2= 12.
Ex 2. If the VIX value is 23.10, then it will be considered as 24. So the period value will be 24/2= 12.
Ex 3. If the VIX value is 22.88, then it will be considered as 22. So the period value will be 22/2= 11.
4. Period value should be fixed at 20 for equity stocks.
5. DO NOT take any SWING or POSITIONAL trade with this indicator.
6. You have to take almost all the trade generated by this indicator on a particular stock/index for better results.
7. Signal confirmation is required for enter the trade as it will give you maximum profits.
8. GREEN TRIANGLE is represented as BUY Signal whereas RED TRIANGLE is represented as SELL Signal.
9. GREEN ARROW is considered as BUY TRAILING STOP LOSS as well as BUY RE-ENTRY for some scenarios.
10. RED ARROW is considered as SELL TRAILING STOP LOSS and SELL RE-ENTRY for some scenarios.
11. You have to avoid entering a trade on a round level zone. Eg- Banknifty 37000,35500,40000 etc etc.
BUY Trade Management :-
1. Trade should be initiated if and only if there is a buy signal(Green Triangle) is generated with confirmation of its respective indices (Recent candle of respective index should be similar to the signal candle).
*in case of BankNifty , Nifty will be its respective index and vice-versa.
2. You should only enter the trade at the CLOSE of the signal generated candle.
3. Your Stop loss should be placed at the LOW of the signal generated candle.
4. There is a trailing Stop loss signal (Green Arrow) after the buying signal is generated.
5. You should trail your Stop loss at the LOW of the trailing Stop loss signal generated candle.
6. You should trail your Stop loss repeatedly until your trailing Stop loss got hit and hence Exit your buy trade.
7. After Exiting the trade you have always option to re-enter at the next trailing Stop loss signal(green arrow) generated candle CLOSE and put your Stop loss at LOW of that candle and repeat the same trailing stop loss procedures.
SELL Trade Management :-
1. Trade should be initiated if and only if there is a sell signal(Red Triangle) is generated with confirmation of its respective indices (Recent candle of respective index should be similar to the signal candle).
*in case of BankNifty , Nifty will be its respective index and vice-versa.
2. You should only enter the trade at the CLOSE of the signal generated candle.
3. Your Stop loss should be placed at the HIGH of the signal generated candle.
4. There is a trailing Stop loss signal (Red Arrow) after the selling signal is generated.
5. You should trail your Stop loss at the HIGH of the trailing Stop loss signal generated candle.
6. You should trail your Stop loss repeatedly until your trailing Stop loss got hit and hence Exit your sell trade.
7. After Exiting the trade you have always option to re-enter at the next trailing Stop loss signal(red arrow) generated candle CLOSE and put your Stop loss at HIGH of that candle and repeat the same trailing stop loss procedures.
Disclaimer :-
*I am not a SEBI Registered Analyst and shall not be liable for any profit, loss or liability resulting, directly or indirectly from the use and results of the indicator. This is not a Holy Grail setup, sometimes the traders hit Stop loss and sometimes it gives amazing results as well.
Instructions to access to this invite-only script:-
*Send us a message if you wish to gain access to this indicator. The subscribers will get benefits of any future development or updates in the current script without any extra charges. Other trading style like swing and positional trading will also available in future updates.
FTRS BOLT PRO
The script uses RSI as major trend identification and supported by RSI divergence for take profit, and also counter trend in certain cases.
Uses EMA 200 for major trend identification to filter false signals, Average Volume as confirmation and faster signal detection to the change of trend.
The indicator detects immediate change of trend and immediately opens position for the major trend.
User can enjoy the RSI with labels of divergence to do manual judgement.
Existing risk to reward ratio based on amount of money instead of ticks count. The currency is depending on the chart's trading currency.
This strategy mainly built for FCPO and its for 1 min settings only. User can toggle the sessions as per users preferences
The default risk to reward ratio is 1:1.5. However, there is a risk management using RSI levels to
Relative Strength Line by @iArpanKHello Traders!
I'm a Momentum Trader, following the Indian & US markets. Most of us are familiar with the Relative Strength (RS) indicator, popularized by Investor's Business Daily (IBD) and available on their MarketSmith platform. So, here I'm sharing a script that does the same and additionally pops an alert label when the RS line hits a new high (similar to Blue Dot appearance on MarketSmith charts).
User Settings
Inputs tab
Base Symbol : Symbol of the security/index with which you want to compare your current active symbol.
Period : Number of days since which you want to scan for a new high (default is 250 days, which approximately pops alerts for new 52 week high in RS). For example, if you want to look for new 10 days high in RS, set the Period to 10.
Style tab
RS Line : Change color using the palette provided (default is blue).
Alert Label : Show/hide alert labels by checking/unchecking the box. Change color using the palette provided. Change alert label symbol.
Precision : Default is two decimal places. Can be changed as per requirement.
Usage
The indicator consists of two components- the Relative Strength (RS) line & alert labels on new RS highs. Relative strength gives a measure of how the underlying security is performing with respect to a base index or security. For example, how is NSE:DIXON performing w.r.t NSE:NIFTY or how is NASDAQ:AAPL performing w.r.t. the TVC:SPX .
A rising RS line tells us that the underlying entity is outperforming the base entity. Similarly, a declining RS line shows under-performance of the underlying entity. A new high in RS (especially before a new high in price) often gives valuable information about the underlying security's strength w.r.t. the general market, and can tip us off to a possible breakout in the price in near future.
Making RS lists (list of stocks making new high in RS on heavy down days in index) can be very helpful to sort out leaders that are best resisting the decline and are likely to move up aggressively when the market turns favorable.
The concept of RS is extensively used by momentum traders and growth stock traders. When used in conjunction with price & volume action, this can be a very powerful tool in your trading arsenal. You can now easily spot RS trends and new highs visually by simply adding this indicator to your chart!
Conclusion
If you like this script, click on Add to favorite indicators , so that you can easily add this indicator from your favorites tab right away.
Thanks!
