Equity CurveAn equity curve is a graphical representation of the change in the value of a trading account over a time period. The equity curve is a direct reflection of a trading strategy's effectiveness. A consistently upward-trending equity curve indicates a successful strategy, while a flat or declining curve may signal the need for adjustment.
This indicator takes traders daily account values as a comma separated list, and creates an equity curve and simple moving average of the equity curve. This serves as a mirror reflecting the outcome of past actions and decisions, guiding traders in fine-tuning their strategies, managing risk more effectively, and ultimately striving towards a consistently profitable trading journey.
New equity values should be added to the end of the current list. A space or no space after the comma has no effect.
Importance of the Equity Curve
Strategy Evaluation: The equity curve is a direct reflection of a trading strategy's effectiveness over time. A consistently upward-trending equity curve indicates a successful strategy, while a flat or declining curve may signal the need for adjustment.
Risk Management: Monitoring the equity curve helps traders to see the impact of their risk management practices. Sudden drops in equity could highlight instances of excessive risk-taking or inadequate stop-loss settings.
Performance Benchmarks: Comparing the equity curve against benchmarks or desired performance goals allows traders to assess if they are meeting, exceeding, or falling short of their trading objectives.
Psychology: Trading is as much about psychology as it is about strategy. A visual representation of one's equity curve helps maintain discipline, encouraging adherence to a trading plan during downturns and preventing overconfidence during upswings.
Having this data visually allows traders to see which category of trader they fall into.
Unprofitable
Boom or Bust
Profitable
Statistical Data
The indicator not only plots the equity curve and moving average, but includes the option to display the highest value reached by the equity curve, the percentage difference from the peak, and performance over selected periods (All Time, YTD, QTD, MTD, WTD).
Historical Analysis
The Equity Curve Indicator is not just a tool for real-time monitoring of trading performance; it also serves as a powerful instrument for conducting historical analysis. By analyzing the equity curve in conjunction with historical market conditions, traders can identify patterns or triggers that resulted in significant gains or losses.
For example, the chart below shows the equity curve overlaid on periods of net new highs / lows. The equity curve experienced declines while the market was showing net new lows or choppy periods (represented by a red or white background), while most of the equity gains were made while net new highs were present (green background).
This retrospective analysis helps in understanding how different market conditions impact trading strategies and performance.
Trading the Equity Curve
All trading strategies produce an equity curve that has winning and losing periods. In the example above, the trader could introduce a simple rule to lighten up on long positions or move to cash during periods of net new lows.
Another simple rule could be introduced to stop trading if the equity curve falls below the moving average, until favorable market conditions return again.
This indicator is intended to be used on the daily timeframe.
Oneil
Danger Signals from The Trading MindwheelThe " Danger Signals " indicator, a collaborative creation from the minds at Amphibian Trading and MARA Wealth, serves as your vigilant lookout in the volatile world of stock trading. Drawing from the wisdom encapsulated in "The Trading Mindwheel" and the successful methodologies of legends like William O'Neil and Mark Minervini, this tool is engineered to safeguard your trading journey.
Core Features:
Real-Time Alerts: Identify critical danger signals as they emerge in the market. Whether it's a single day of heightened risk or a pattern forming, stay informed with specific danger signals and a tally of signals for comprehensive decision-making support. The indicator looks for over 30 different signals ranging from simple closing ranges to more complex signals like blow off action.
Tailored Insights with Portfolio Heat Integration: Pair with the "Portfolio Heat" indicator to customize danger signals based on your current positions, entry points, and stops. This personalized approach ensures that the insights are directly relevant to your trading strategy. Certain signals can have different meanings based on where your trade is at in its lifecycle. Blow off action at the beginning of a trend can be viewed as strength, while after an extended run could signal an opportunity to lock in profits.
Forward-Looking Analysis: Leverage the 'Potential Danger Signals' feature to assess future risks. Enter hypothetical price levels to understand potential market reactions before they unfold, enabling proactive trade management.
The indicator offers two different modes of 'Potential Danger Signals', Worst Case or Immediate. Worst Case allows the user to input any price and see what signals would fire based on price reaching that level, while the Immediate mode looks for potential Danger Signals that could happen on the next bar.
This is achieved by adding and subtracting the average daily range to the current bars close while also forecasting the next values of moving averages, vwaps, risk multiples and the relative strength line to see if a Danger Signal would trigger.
User Customization: Flexibility is at your fingertips with toggle options for each danger signal. Tailor the indicator to match your unique trading style and risk tolerance. No two traders are the same, that is why each signal is able to be turned on or off to match your trading personality.
Versatile Application: Ideal for growth stock traders, momentum swing traders, and adherents of the CANSLIM methodology. Whether you're a novice or a seasoned investor, this tool aligns with strategies influenced by trading giants.
Validation and Utility:
Inspired by the trade management principles of Michael Lamothe, the " Danger Signals " indicator is more than just a tool; it's a reflection of tested strategies that highlight the importance of risk management. Through rigorous validation, including the insights from "The Trading Mindwheel," this indicator helps traders navigate the complexities of the market with an informed, strategic approach.
Whether you're contemplating a new position or evaluating an existing one, the " Danger Signals " indicator is designed to provide the clarity needed to avoid potential pitfalls and capitalize on opportunities with confidence. Embrace a smarter way to trade, where awareness and preparation open the door to success.
Let's dive into each of the components of this indicator.
Volume: Volume refers to the number of shares or contracts traded in a security or an entire market during a given period. It is a measure of the total trading activity and liquidity, indicating the overall interest in a stock or market.
Price Action: the analysis of historical prices to inform trading decisions, without the use of technical indicators. It focuses on the movement of prices to identify patterns, trends, and potential reversal points in the market.
Relative Strength Line: The RS line is a popular tool used to compare the performance of a stock, typically calculated as the ratio of the stock's price to a benchmark index's price. It helps identify outperformers and underperformers relative to the market or a specific sector. The RS value is calculated by dividing the close price of the chosen stock by the close price of the comparative symbol (SPX by default).
Average True Range (ATR): ATR is a market volatility indicator used to show the average range prices swing over a specified period. It is calculated by taking the moving average of the true ranges of a stock for a specific period. The true range for a period is the greatest of the following three values:
The difference between the current high and the current low.
The absolute value of the current high minus the previous close.
The absolute value of the current low minus the previous close.
Average Daily Range (ADR): ADR is a measure used in trading to capture the average range between the high and low prices of an asset over a specified number of past trading days. Unlike the Average True Range (ATR), which accounts for gaps in the price from one day to the next, the Average Daily Range focuses solely on the trading range within each day and averages it out.
Anchored VWAP: AVWAP gives the average price of an asset, weighted by volume, starting from a specific anchor point. This provides traders with a dynamic average price considering both price and volume from a specific start point, offering insights into the market's direction and potential support or resistance levels.
Moving Averages: Moving Averages smooth out price data by creating a constantly updated average price over a specific period of time. It helps traders identify trends by flattening out the fluctuations in price data.
Stochastic: A stochastic oscillator is a momentum indicator used in technical analysis that compares a particular closing price of an asset to a range of its prices over a certain period of time. The theory behind the stochastic oscillator is that in a market trending upwards, prices will tend to close near their high, and in a market trending downwards, prices close near their low.
While each of these components offer unique insights into market behavior, providing sell signals under specific conditions, the power of combining these different signals lies in their ability to confirm each other's signals. This in turn reduces false positives and provides a more reliable basis for trading decisions
These signals can be recognized at any time, however the indicators power is in it's ability to take into account where a trade is in terms of your entry price and stop.
If a trade just started, it hasn’t earned much leeway. Kind of like a new employee that shows up late on the first day of work. It’s less forgivable than say the person who has been there for a while, has done well, is on time, and then one day comes in late.
Contextual Sensitivity:
For instance, a high volume sell-off coupled with a bearish price action pattern significantly strengthens the sell signal. When the price closes below an Anchored VWAP or a critical moving average in this context, it reaffirms the bearish sentiment, suggesting that the momentum is likely to continue downwards.
By considering the relative strength line (RS) alongside volume and price action, the indicator can differentiate between a normal retracement in a strong uptrend and a when a stock starts to become a laggard.
The integration of ATR and ADR provides a dynamic framework that adjusts to the market's volatility. A sudden increase in ATR or a character change detected through comparing short-term and long-term ADR can alert traders to emerging trends or reversals.
The "Danger Signals" indicator exemplifies the power of integrating diverse technical indicators to create a more sophisticated, responsive, and adaptable trading tool. This approach not only amplifies the individual strengths of each indicator but also mitigates their weaknesses.
Portfolio Heat Indicator can be found by clicking on the image below
Danger Signals Included
Price Closes Near Low - Daily Closing Range of 30% or Less
Price Closes Near Weekly Low - Weekly Closing Range of 30% or Less
Price Closes Near Daily Low on Heavy Volume - Daily Closing Range of 30% or Less on Heaviest Volume of the Last 5 Days
Price Closes Near Weekly Low on Heavy Volume - Weekly Closing Range of 30% or Less on Heaviest Volume of the Last 5 Weeks
Price Closes Below Moving Average - Price Closes Below One of 5 Selected Moving Averages
Price Closes Below Swing Low - Price Closes Below Most Recent Swing Low
Price Closes Below 1.5 ATR - Price Closes Below Trailing ATR Stop Based on Highest High of Last 10 Days
Price Closes Below AVWAP - Price Closes Below Selected Anchored VWAP (Anchors include: High of base, Low of base, Highest volume of base, Custom date)
Price Shows Aggressive Selling - Current Bars High is Greater Than Previous Day's High and Closes Near the Lows on Heaviest Volume of the Last 5 Days
Outside Reversal Bar - Price Makes a New High and Closes Near the Lows, Lower Than the Previous Bar's Low
Price Shows Signs of Stalling - Heavy Volume with a Close of Less than 1%
3 Consecutive Days of Lower Lows - 3 Days of Lower Lows
Close Lower than 3 Previous Lows - Close is Less than 3 Previous Lows
Character Change - ADR of Last Shorter Length is Larger than ADR of Longer Length
Fast Stochastic Crosses Below Slow Stochastic - Fast Stochastic Crosses Below Slow Stochastic
Fast & Slow Stochastic Curved Down - Both Stochastic Lines Close Lower than Previous Day for 2 Consecutive Days
Lower Lows & Lower Highs Intraday - Lower High and Lower Low on 30 Minute Timeframe
Moving Average Crossunder - Selected MA Crosses Below Other Selected MA
RS Starts Curving Down - Relative Strength Line Closes Lower than Previous Day for 2 Consecutive Days
RS Turns Negative Short Term - RS Closes Below RS of 7 Days Ago
RS Underperforms Price - Relative Strength Line Not at Highs, While Price Is
Moving Average Begins to Flatten Out - First Day MA Doesn't Close Higher
Price Moves Higher on Lighter Volume - Price Makes a New High on Light Volume and 15 Day Average Volume is Less than 50 Day Average
Price Hits % Target - Price Moves Set % Higher from Entry Price
Price Hits R Multiple - Price hits (Entry - Stop Multiplied by Setting) and Added to Entry
Price Hits Overhead Resistance - Price Crosses a Swing High from a Monthly Timeframe Chart from at Least 1 Year Ago
Price Hits Fib Level - Price Crosses a Fib Extension Drawn From Base High to Low
Price Hits a Psychological Level - Price Crosses a Multiple of 0 or 5
Heavy Volume After Significant Move - Above Average and Heaviest Volume of the Last 5 Days 35 Bars or More from Breakout
Moving Averages Begin to Slope Downward - Moving Averages Fall for 2 Consecutive Days
Blow Off Action - Highest Volume, Largest Spread, Multiple Gaps in a Row 35 Bars or More Post Breakout
Late Buying Frenzy - ANTS 35 Bars or More Post Breakout
Exhaustion Gap - Gap Up 5% or Higher with Price 125% or More Above 200sma
Power OutageThe Power Outage indicator serves as the antithesis to the Power Trend, highlighting periods of extreme weakness or downtrends. Drawing inspiration from the Power Trend, the Power Outage framework was conceived by reversing the logic to highlight periods where being in cash or net short could be beneficial.
What Initiates a Power Outage?
The high is below the 21-day EMA for at least 10 consecutive days.
The 21-day EMA is below the 50-day SMA for a minimum of five days.
The 50-day SMA is on a downward trajectory.
The closing price is lower than the previous day's close.
A Power Outage can be a caution sign for traders to tighten up risk management and encourage defensive strategies or the consideration of short positions. Not only does this indicator clearly identify a Power Outage by a shaded background or shape plotted on the chart, but it also records metrics for each previous Power Outage.
The number of Power Outages that have occurred, their average length, and average depth (from the first day's close when the Power Outage activates to the low of the Power Outage) are all displayed to help assess the condition of the current Power Outage.
What Ends a Power Outage?
A Power Outage ends when the 21-day EMA crosses above the 50-day SMA, or when the price closes 10% above the recent low and above the 50-day SMA.
This indicator is designed to be viewed on a daily time frame.
Analytics Trading DashboardThe Analytics Trading Dashboard is a tool designed to bring key information about a company into an easy-to-view dashboard. The indicator combines Company Info, Fundamental Data, Price & Volume Data, and Analyst Recommendations all into one table.
Let’s dive into the details by section:
Company Info:
Name – Company name.
Market Cap – Total dollar market value of the company’s outstanding shares of stock.
Float Shares / Shares Outstanding – Floating shares indicate the number of shares available for trading. Outstanding shares are any shares held by shareholders and company insiders.
Sector – The stock's sector.
Industry Group - The industry group the stock belongs to.
IPO Date – Date on which a security is first publicly traded.
Dividend – The latest dividend amount if the company pays one.
Fundamental Data:
EPS Due – The date the company is set to report earnings next.
EPS Est Next Qtr – The earnings per share estimate for the upcoming report.
EPS Est % Chg (Current Qtr) – The earnings growth as a percentage based on the reported earnings of the same quarter from the previous year.
EPS % Chg (Last Qtr) – The earnings growth of the last reported quarter as a percentage versus the same quarter from the previous year.
Last Qtr EPS Surprise – The amount reported earnings beat or missed estimates from the last reported quarter.
Last 3 Qtrs Avg. EPS Growth – The average percentage growth of the last 3 earnings reports.
# Qtrs of EPS Acceleration – The number of consecutive quarters that EPS has increased.
Last 3 Qtrs Avg. Rev Growth – The average percentage growth of the last 3 revenue numbers reported.
# Qtrs of Rev Acceleration – The number of consecutive quarters that revenue has increased.
Gross Margin – Measures gross profit compared to revenue as a percentage.
Debt/Equity Ratio – The ratio of debt to equity, or financial leverage.
Price and Volume Data:
52 Week High – The highest high of the last 52 weeks.
% Off 52 Week High – The percentage the current price has decreased from the 52-week high.
Price vs. Moving Average – The distance as a percentage that the current price is from the selected moving average.
Average Volume – The average number of shares traded based on the selected lookback period.
Average $ Volume – The average of the total value of shares traded based on the selected lookback period.
Pocket Pivots – The number of pocket pivots that have occurred in the selected lookback period.
Up/Down Volume Ratio - A 50-day ratio derived by dividing total volume on up days by the total volume on down days.
ATR – The average true range shown as a dollar value and percentage of current price.
ADR – The average daily range shown as a dollar value and percentage of current price.
Beta - Beta is a measure of its volatility relative to the overall market, indicating how much the stock's price is expected to fluctuate compared to the market average.
Analyst Ratings:
Strong Buy – The number of strong buy recommendations.
Buy – The number of buy recommendations.
Hold – The number of hold recommendations.
Sell – The number of sell recommendations.
Strong Sell – The number of strong sell recommendations.
The Analytics Trading Dashboard also comes with the flexibility to select your preferred moving average for price and volume analysis, as well as to choose the specific lookback period for calculating the Average True Range (ATR), Average Daily Range (ADR), and Pocket Pivots lookback period.
Alpha Momentum Trade - AMT (QUAD Financial)The "Alpha Momentum Trend" indicator was conceived by Tiago Friedrich and programmed by Conrado Villaça.
The indicator description applies to the daily chart. When used on other timeframes, the indicator also changes its signals based on the timeframe used.
It has five fields, from top to bottom:
1. "ATR Multiple MA" greater than multiple: shows how many candles the asset stayed 7 times the ATR (average true range) above the 50-period simple moving average (SMA) in the last 126 candles. The purpose is to identify the strength of the asset because the more times it stayed at this distance from the SMA 50, the greater the acceleration of its prices tends to be, indicating a high momentum asset. You can change the period of the SMA in the indicator settings.
2. ATR% Multiple from MA: shows the multiple of ATR that the asset is from the same SMA as in the upper field. The default is the SMA 50, and the indicator helps identify interesting regions to take profits from long positions. When the asset is more than 7 ATRs above the SMA 50, the asset is considered "stretched," and a correction or price consolidation becomes likely. For high beta assets with a very strong trend, you can use a multiple of 10 ATRs for this purpose.
3. ATR% Multiple from 52w Low: shows the multiple of ATR that the asset is in relation to the 52-week low price. The higher the number, the more the asset has risen relative to its volatility standards, indicating a stronger trend. For momentum traders, it's ideal for the asset to be at least 15 ATRs above the minimum for this period to ensure that it's in a strong uptrend and far from the lows.
4. Longest streak above SMA: within the last 126 candles, it shows the longest streak of days when the asset didn't close below a specific simple moving average. The default definition is with the 10-day SMA, but you can change it in the indicator settings. The more consecutive days the asset can stay above the SMA10, the sign that its trend is consistent and not very volatile, which is desirable. Ideally, an asset should have previously formed an uptrend by staying at least 20 consecutive days above the SMA10.
5. Longest streak above EMA: within the last 126 candles, it shows the longest streak of days when the asset didn't close below a specific exponential moving average. The default definition is with the 21-day EMA, but you can change it in the indicator settings. The more consecutive days the asset can stay above the EMA21, the sign that its trend is consistent and not very volatile, which is desirable. Ideally, an asset should have previously formed an uptrend by staying at least 35 consecutive days above the EMA21.
It's also possible to visualize on the chart the moving averages used for the calculation of the "ATR Multiple MA," "Longest streak above SMA," and "Longest streak above EMA". In the default configuration, this results in a simple 50-day moving average, a simple 10-day moving average, and an exponential 21-day moving average being displayed on the chart, respectively.
Webby's Quick & Grateful Dead RSWebby's Quick & Grateful Dead RS combines a Relative Strength Line and Moving Averages to help traders hold a core position in a winning stock by identifying moments of strength and weakness in a stocks advance.
The Relative Strength (RS) line is something many investors are familiar with. It is used to measure a stocks performance versus the S&P 500 (default setting) and is typically calculated by dividing the closing price of the stock by the closing price of the S&P. This means if a stock moves up and the S&P moves down or the stock moves up more than the S&P the RS line will increase, if the stock moves down while the S&P moves up the line will decrease.
While the RS Line by itself is a powerful tool, adding moving averages to the RS line can help better understand trends. This work was done by Mike Webster (Webby) as he tried to reverse engineer how William O'Neil was able to hold some of his biggest winning positions.
This indicator plots the RS line along with two moving averages and clearly labels and alerts the 3 signals shared by Webby:
Quick Break - RS line crosses below the fast moving average
Quicksand - RS line moves lower than it was at the time of the Quick Break
Grateful Dead Break - RS line crosses below the slow moving average
To ensure your chart doesn't get skewed, please use the multiplier in the setting to adjust the vertical offset of the RS line and moving averages.
[TTI] IBD Base Analysis (WEEKLY)📜 ––––HISTORY & CREDITS––––
This indicator, titled " IBD Base Analysis (WEEKLY)," is an original creation by TinTinTrading. It synthesises multiple metrics and visual cues to provide a comprehensive overview of market bases on a weekly timeframe. It is based on the teachings of Investors Business Daily (IBD) and William O'Neil. Mainly from attending all IBD Seminars, Courses and part of man IBD MeetUps. I have compiled most criteria and made it into indicator.
🦄 –––UNIQUENESS–––
What sets this indicator apart is its multi-faceted approach to base analysis. It doesn't just measure base depth or length, or plot a base structure with target (Cup with Handle, Double Bottoms, Flat Bases or other);
The IBD Base Analysis (WEEKLY) allows the user to pick the beginning and end of base and then runs through the criteria for a HEALTHY vs FAULTY Bases. The script is intended for a Weekly timeframe and is base agnostic - hence it can be used on any base pattern you want to analyse. By using the script you will be able to grab a quick visual if there are any faulty characteristics that you have be aware of. Furthermore, its user-friendly interface, complete with customisable color-coding and toggle-able advanced metrics, makes it a great tool for both novice and expert traders to incorporate into their trading.
🛠️ ––––WHAT IT DOES––––
👉 Analysis Table with customisable position. Each cell has additional information when you hover over it with a mouse to show what is required and what is faulty. The cells are color coordinated by user customisable color-coding. If the cell is green then it is bullish. If it is orange then it is soft violating condition and if it is red it is bearish.
Depth: First we look at the Depth of the base expressed in percent
Length: How many weeks long is the base
Number of Weeks under Accumulation (Acc Wks)
Number of Weeks under Distribution (Distrb Wks)
Number of Weeks showing Supporting action
Number of weeks which show wide and loose action (unfavorable), "10% WKs)
Number of weeks we close above the mid point
Grading of the close within the first 3 weeks after bottoming
Counting the Gap ups vs Gap down for the given period
👉 Base plots
+ plot under weeks where we have a tight action compared to previous week - this is considered favorable
▲ plot under down weeks where we show supporting action
⏺ appear under the 3 most important weeks in the base: The Week at the bottom, The week with the Largest Spread and the Week with the Largest Volume. Green means bullish action, Orange means soft violation. The tooltips on the circles show the Closing Range of the week.
- midpoint (in blue), this draws the midpoint within the base.
👉 18 month line - According to IBD the True Market Leaders Breakout and run for on average of 18 months before topping. For this reason I have included a customizable on/off line that plots 18 months back. What I want to see is if the stock has been in a strong uptrend (Stage 2 accumulation for those knowing the Stan Weinstein methodology) for the last18 months. If yes, you ought to consider the base higher risk than one that is just starting its move.
💡 ––––HOW TO USE IT––––
Add the indicator to your chart
Determine the beginning and the end of the base (use the settings in the indicator or drag the verical blue lines)
Read the price action based on the coloring and the criteria explained in the tooltips. Additionally familiarize yourself with the general tips for reading a base below.
💡 ––––GENERAL TIPS FOR READING THE ANALYSIS TABLE––––
Depth: IBD recommends bases to be under 30%. However, during a strong bear market some stocks can exhibit 1.5-2x the volatility. Yet, it is key within the IBD methodology to buy breakouts from proper Non-deep bases
Length: Many newer traders misinterpret small patterns for bases. This common misunderstanding is addressed by calculating the length of the base and determining if it is developed or immature.
Number of Weeks under Accumulation (Acc Wks): This is the first thing the late Market Wizard William O'neill looks into the base. How many weeks are showing signs of accumualtion and how many are showing signs of distribution (the cell below). Always look for Accumulation weeks to be more than distribution weeks.
Number of Weeks under Distribution (Dist Wks): See above
Number of Weeks showing Supporting action: New traders determine down week as bearish. However, within the methodology and extensive research IBD has given criteria of down weeks that are actually a bullish sign. Counting the number of weeks within the base that meet this criteria gives us this metric.
Number of weeks which show wide and loose action: If the base is not compact but it is wide and loose it is considered an unfavorable pattern. Generally, occurs within Stage 3 of a stock topping.
Wks > Mid: Utilizes a simple 'hack' of base reading. How many weeks have closed above the mid level of the base and how many have closed below the mid level of the base.
Grading of the close within the first 3 weeks of the bottom: The next cell looks at the price action subsequent of the 3 weeks after the bottom. These are very important as they show if accumulation is happening (strengthening the breakout hypothesis) or if it is not.
Counting the Gap ups vs Gap down for the given period: Lastly gaps are key footprint of institutional moves. We look for the number of DAILY gaps on the WEEKLY timeframe and compare the daily gap up vs the daily gap downs within the base.
REMEMBER, ALL TRADING INCLUDES RISK. NEVER RELY SOLELY ON A SINGLE INDICATOR. INCORPORATE IT INTO YOUR BROADER TRADING METHODOLOGY AS A COMPLEMENTING SOURCE OF INFORMATION.
[TTI] MarketSmith & IBD Style Model Stock Quarters 📜 ––––HISTORY & CREDITS––––
The MarketSmith & IBD Style Model Stock Quarters another Utility indicator is an original creation by TintinTrading inspired by Investor's Business Daily and William O'Neil style of presenting information. While going through the Model Stocks that IBD has been publishing, I realized that I wanted to see the exam same Quarterly presentation on the time axis in order to compare William O'Neil notes better with my own notes from Tradingview. The script is simple and could help you if you study the CANSLIM methodology.
🦄 –––UNIQUENESS–––
The distinctiveness of this indicator lies in its ability to visually delineate stock quarters directly on the price chart. It serves as a handy tool for traders who adopt a quarterly review of stock performance, in line with MarketSmith and IBD's analysis frameworks.
🛠️ ––––WHAT IT DOES––––
Quarter Marking : Draws a black line at the beginning of each financial quarter (January, April, July, and October).
Quarter Labeling : Places a label at the close of the last month in a quarter, indicating the upcoming quarter with its abbreviation and the last two digits of the year.
💡 ––––HOW TO USE IT––––
👉Installation: Add the indicator to your TradingView chart by searching for " MarketSmith & IBD Style Model Stock Quarters" in the indicator library.
👉Add to New Pane and squash the Pane Length: I add the indicator to a new pane under the price and volume charts and squash the height of the pane so that it looks exactly like the MarketSmith visuals.
👉Visual Cues:
Look for the black lines marking the start of a new quarter.
Observe the labels indicating the upcoming quarter and year, positioned at the close of the last month in a quarter.
👉Interpretation: Use these quarterly markers to align your trading strategies with quarterly performance metrics or to conduct seasonal analysis.
👉Settings: The indicator does not require any user-defined settings, making it straightforward to use.
[TTI] Price confirmation indicator📜 ––––HISTORY & CREDITS––––
The Price Confirmation Indicator is an innovative tool developed by TintinTrading to help his students learn to interpret Price + Volume moves. It is designed to provide traders with a visual cue for price movement confirmation based on both price direction and trading volume. I got the idea from watching Daivd Ryan, how he explains that he looks at volume first before looking at the price of a stock.
🦄 –––UNIQUENESS–––
What sets this indicator apart is its dual analysis approach and easy interpretation: it not only evaluates price movements but also takes trading volume into account. The indicator's color-coded bars are dynamically adjusted based on the volume difference from a 50-day Simple Moving Average (SMA) of the volume. This offers traders an intuitive way to gauge both the market's direction and its strength.
🛠️ ––––WHAT IT DOES––––
The Price Confirmation Indicator performs the following functions:
👉Price Movement: Determines whether each trading day is an 'Up Day' or a 'Down Day' based on the closing price.
👉Volume Analysis: Calculates the 50-day SMA of trading volume and identifies the volume difference in percentage terms.
👉Transparency Adjustment: Dynamically adjusts the transparency of colored bars based on the volume difference.
👉Bar Coloring: Colors the bars blue for 'Up Days' and purple for 'Down Days', with the transparency indicating the strength of the volume.
Transparency Tresholds:
Full color (no transparency 0%) - Volume is greater than 40% compared to the 50DSMA Volume
Strong color (little transparency 20%) - Volume is between 20% and 40% greater than the 50DSMA Volume
Noticable color (moderate transparency 40%) - Volume is between 0% and 20% greater than the 50DSMA Volume
Negligable color (strong transparency 60%) - Volume is light and is less than 50DSMA Volume with less than 20% lower.
Weak color (very strong transparency 80%) - Volume is below 50DSMA, with between 40% and 20% lower.
Very weak color (max transparency 90%) - Volume is below 50DSMA, with between -40% and -80% lower.
Alarming weak color (color is orange) - Volume is noticably light - this generally signals velocity contraction before a breakout.
💡 ––––HOW TO USE IT––––
Installation: Search for " Price Confirmation Indicator" in TradingView’s indicator library and add it to your chart.
Settings:
Price Up Color: Customize the color for 'Up Days'.
Price Down Color: Customize the color for 'Down Days'.
Interpretation:
Blue bars signify 'Up Days', and their transparency indicates the strength of the volume.
Purple bars represent 'Down Days', with transparency again indicating volume strength.
Orange bars signify extremely low volume days.
Volume Transparency: The less transparent the bar, the stronger the volume, aiding in confirming the price direction.
The indicator is a great tool for newer traders to get in the habit of reading Price & Volume together!
MarketSmith VolumesThe 'MarketSmith Volumes' is to be used with the 'MarketSmith Indicator' and 'EPS & Sales' in order to mimic fully MarketSmith Graphs with the maximum number of indicators allowed by a free Tradingview Plan: 3
This indicator is no more than a simple volume indicator where all parameters are already adjusted to resemble MarketSmith graphical volumes.
Also you will find integrated:
High Volumes Bars Peak :
They allow us to see peak volumes at a glance.
10-Week Average Volume :
When viewing a weekly chart, this line represents a 10-week moving average volume level. It allows you to see if the current Volume Bar of the week is above or under the average volume traded in the past 10 Weeks.
50-Day Average Volume :
When viewing a daily chart, this line represents a 50-day moving average volume level. Whether or not volume is above or below the average for a certain period could have a significant impact on your stock chart analysis.
MarketSmith IndicatorThis script provides you with several indicators that will enable you to mimic MarketSmith charts, even with a free TradingView plan.
You can use this script with my ' EPS & Sales ' indicator.
MarketSmith-style bars
The script offers an original approach to managing candlesticks within the code, making them almost identical to those on MarketSmith.
For a perfect display, select ' Bars ' on your chart and set the opacity of your candles to 100% to display only the candles proposed by this indicator.
If you don't want them, you can simply disable them in the ' Style ' tab by unchecking 'MarketSmith Bars' and 'Chars'.
These candles are designed to be used with a fix chart. (No beautiful result with zooming in or out.)
Normally, the display will still be correct by right-clicking, and ' Reset Chart '.
Simple customizable moving averages
With automatic distinction of the weekly time unit. You can choose to display them or not, select the calculation method and modify their length via the panel.
The RS Rating indicator
I've integrated the RS Rating indicator into this script, as the RS Rating is a fundamental component of this layout.
High and valley points
These points are used by MarketSmith to detect bases, patterns, cup & handle.
Designed for US Market only you won't be able to screen correctly the India market for example.
Webby's Tight IndicatorWebby's Tight Indicator is used to measure a securities volatility relative to itself over time. This is achieved by taking the average of three short term ATR's (average true range) and creating a ratio versus three longer term ATR's.
Mike Webster recently stated he is using the 3,5,8 for the short term ATR's and the 55,89,144 for the long term ATR's. All of the ATR lengths are part of the Fibonacci sequence.
The ratio of the ATR's is then calculated and plotted as a histogram with 0 representing the ATR's being equal. As a stocks short term ATR contracts the histogram will rise above 0 meaning volatility in the short term is contracting relative to long term volatility. On the other hand if the short ATR's are expanding versus the long term ATR's the histogram will fall below 0 and turn red, signifying short term volatility is greater than long term volatility.
The easy visualization of this indicator allows you to quickly see when a stock is in a tight range and could be ready for a potential breakout to the long side or breakdown to the short side.
In this example we see tight price action with a blue histogram followed by volatility to the upside coinciding with a breakout.
In this example we see volatility expanding as a stock continues to fall.
To help differentiate between trending contraction or expansion and just short term blips 5-day exponential moving average of the ratio is also plotted on the histogram and dynamically changes colors as it rises and falls.
Indicator options include:
Change histogram colors
Choose ema line width
Webby's RS LineThe Relative Strength (RS) line is something many investors are familiar with. It is used to measure a stocks performance versus the S&P 500 and is typically calculated by dividing the closing price of the stock by the closing price of the S&P. This means if a stock moves up and the S&P moves down or the stock moves up more than the S&P the RS line will increase, if the stock moves down while the S&P moves up the line will decrease.
While the standard RS line is a powerful tool, Mike Webster recently discussed how he has made changes to the standard RS line and also uses a 21 exponential moving average of the RS line to help guide his decision making. This script puts those new twists on the standard RS line, by first calculating the RS line using the low of both the security and the S&P rather than the closing prices. Next it measures the 21-day exponential moving average of the RS line and plots the distance between the two as a histogram.
A strong trending stock that is out performing the market will see an extended period of a positive blue histogram signifying the RS line is above the 21-ema.
While on the other hand a stock in a downtrend that is underperforming will see a negative red histogram a red histogram signifying the RS line is below the 21-ema.
On top of all of that, the indicator also keeps 3 & 13 exponential moving average of the distance between the RS line and the 21 ema to help identify shorter term relative strength and capture more immediate shifts in momentum. Both of those are plotted on the histogram as well and will change color as they rise and fall making it easy to spot the direction.
Indicator options include:
Choose symbol to measure performance against
Change histogram colors
Choose ema line width
* Note this indicator does not plot the actual RS line, it is the histogram representing the distance between the RS line calculated using the lows and the 21 ema, as well as the two ema's of the relationship.
Base Finder DailyThe Base Finder Daily is the companion tool to the original Base Finder which is used to identify consolidation periods in a stock's advance. The Base Finder Daily allows traders to zoom in from the weekly chart and get a more precise view of the daily price action during a basing period.
Base Finder Daily identifies three different types of bases (Flat Base, High Tight Flag, Consolidation) and provides key information about the consolidation such as the depth, length, and pivot point. This information allows traders to compare and analyze the best basing patterns quickly and easily.
This tool helps traders of all levels train their eye to identify potential trading opportunities that might have otherwise gone unnoticed.
Base Finder is a must-have tool for any trader, especially those that have studied the work of William O’Neil. Base Finder stacks up base for base with MarketSmith.
Easily customize the settings, from the look to the intricacies of a consolidation.
Default base settings:
Flat Base
length: 25 days minimum
depth: <= 15%
High Tight Flag
Flag Pole: up 80% or more in less than 40 days
Flag: Less than 25% correction in 10-20 days
Consolidation:
length: minimum 30 days
depth: <= 35%
Notes
This indicator is meant to be used on the daily timeframe.
In order to see the stats labels hover your mouse over the left side high of the consolidation and please make sure the indicator is brought to the front using the visual order of your chart. If the visual order is not correct you will not be able to see the stats label.
Disclaimer:
This indicator is for informational and educational purposes only. Do your own research before making any trade decisions. We accept no liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on this indicator.
Base FinderThe Base Finder is a powerful tool to identify consolidation periods in a stock's advance. With this indicator, traders can effortlessly spot consolidation patterns on their charts providing them with a deeper understanding of the stock's price action.
Base Finder goes beyond identifying consolidation patterns, as it also offers key information about the consolidation such as the depth, length, pivot point, and the number of accumulation or distribution weeks throughout the pattern. This information allows traders to compare and analyze the best basing patterns quickly and easily.
With Base Finder, traders can differentiate between a Flat Base, a High Tight Flag, or a consolidation, like a cup with handle or double bottom base.
This tool helps traders of all levels train their eye to identify potential trading opportunities that might have otherwise gone unnoticed.
Base Finder is a must-have tool for any trader, especially those that have studied the work of William O’Neil. Base Finder stacks up base for base with MarketSmith.
Easily customize the settings, from the look to the intricacies of a consolidation.
Default base and accumulation/distribution settings:
Flat Base
length: 5 weeks minimum
depth: <= 15%
High Tight Flag
Flag Pole: up 80% or more in less than 8 weeks
Flag: Less than 25% correction in 2-4 weeks
Consolidation:
length: minimum 6 weeks
depth: <= 35%
Accumulation Week:
Current candle closes lower, but in the upper half of the weekly closing range on above average volume. OR Current candle closes positive in the upper 40% of the weekly closing range on above average volume.
Distribution Week:
Current candle closes positive, but in the lower quartile of the weekly closing range on above average volume. OR Current candle closes down on the week in the lower half of the weekly closing range on above average volume.
Notes
This indicator is meant to be used on the weekly timeframe.
In order to see the stats labels hover your mouse over the left side high of the consolidation and please make sure the indicator is brought to the front using the visual order of your chart. If the visual order is not correct you will not be able to see the stats label.
Disclaimer:
This indicator is for informational and educational purposes only. Do your own research before making any trade decisions. We accept no liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on this indicator.
[TTI] Minervini MonAlert Pro––––HISTORY & CREDITS 🏦
This indicator, Minervini MonAlert, is an updated version of the October 2022 Minervini MonAlert ( ).
Special thanks to Michael Walstedt @MichaelWalstedt for his valuable contributions to make this happen. The script is inspired by the stealth platform functionality, MonAlert, by Mark Minervini, the legendary trader and market wizard. The acronym MonAlert stands for Monitor and Alert.
––––WHAT IT DOES 💡
The Minervini MonAlert indicator is designed for traders who want to have "Minervini-like" eyes on technical setups for confirmation and violations. It helps to monitor and alert users about various technical setups, painting on the chart the things that Mark Minervini looks for pre and post buy to confirm or violate the trade. The indicator includes 58 daily and weekly indicators, covering various aspects of technical analysis that show confirming or violating action.
––––FUNCTIONALITIES
Label Plots
At each bar you can see how many confirmations and violations have triggered. The indicator prints a label with the sum of the total number of confirmations in green and violations in red. These can be turned on and off, so that only confirmations or violations are plotted.
🚨When you hover with the mouse over the labels, you can see exactly which indicators have triggered! Example of the functionality is shown on the chart with the picture in black outline.
Summary Label
You can turn on a label on the right hand side to show the total sum of the confirmations and violations. If violations are more than confirmations the label will color accordingly. The period for which the calculations are made is customizable in the settings.
Background Coloring
The background of the chart can be colored if it is turned on in settings.
👉Option 1 is to color the period which the indicator analyses
👉Option 2 is to color according to the recent balance (sum) between violations and confirmations. 🟩Green background means that there are more confirmations and 🟥Red means there are more violations. 🟨Orange means confirmations and violations are the same number
Bars only
If you add another instance of the indicator and move it to a new pane you can trigger the Additional Charts funcationalities and see the a histogram of bars. These can be set with 3 settings:
👉Net: Showing the net between the number of violations and confirmations
👉Confirmations only: Showing only the number of confirmations
👉Violations only: Showing only the number of violations.
––––CALCULATIONS
Some indicators are both confirming and violating, others are only violating or only confirming. Hence the total number of signals are 58.
// Indicator 1 - Lower Lows and Higher Highs: Looks at consecutive lower lows and higher highs based on thresholds suggested by Mark
// Indicator 2 - Looks for days with significant price advancement
// Indicator 3 - Good and Bad closes: Looks at how the stock is closing compared to its intraday range
// Indicator 4 - Analyzes the price action around the 50-day simple moving average
// Indicator 5 - Stock Under Pressure: Looks whether the stock is under technical pressure as per IBD methodology.
// Indicator 6 - Up days and Down days looks wether the stock has been mostly going up or down
// Indicator 7 - Studies the largest volume days and their directio
// Indicator 8 - Detects wether there is an Outside Day
// Indicator 9 - Identifies relative strength new highs and new lows
// Indicator 10 - Monitors for potential reversals in price trends
// Indicator 11 - Detects for pattern called "Megaphone" that signifies increases in volatility
// Indicator 12 - There is a famous rule of William O'Neil about stock making 20% advancement
// Indicator 13 - ANTS Confirmation - a pattern coined by David Ryan, that looks for both consecutive advancement and volume
// Indicator 14 - Angle D - an technical pattern coinded by Mark Minervini, that looks at the price direction vs the direction of the 50D SMA
// Indicator 15 - 17 Closes around key moving averages
// Indicator 18 / 19 Observes stock closing prices at high or low points
// Indicatro 19 - Detects significant reversals in stock price trends that are backed by significant volume
// Indicator 20 - Identifies stocks that decline with a substantial volume increase.
// Indicator 21 - Issues a warning for stocks that may be overextended, compared to its own price action
// Indicator 22 - Highlights days with a narrower price range than the previous day
// Indicator 23 - 24 Detects the largest down days accompanied by high trading volume.
// Indicator 25 -Pinpoints stocks that rise with a substantial volume increase (e.g. +30%)
// Indicator 26 - 30 Studies weekly price trends, analyses significant weekly declines on high trading volume and examines for the largest percentage price decline.
––––HOW TO USE IT 🔧
To use the Minervini MonAlert indicator, follow these steps:
1️⃣ Apply the indicator to your chart by searching for " Minervini MonAlert" in the TradingView indicators section. The script is 'invite-only'.
2️⃣ Customize the indicator's settings to suit your trading style and preferences.
3️⃣ Observe the various technical setups and alerts generated by the indicator on your chart.
4️⃣ Use the outputs of the technical setups as confirmation signals or violations to help make informed trading decisions. A stock that is gathering a lot of violating action before or after a breakout is a lower probabiltiy setup.
5️⃣ Combine the Minervini MonAlert indicator with other technical analysis tools or methods for a more comprehensive trading strategy.
Remember that the Minervini MonAlert indicator should be used as a supplement to your existing trading strategy and not as a standalone tool. Always consider other factors, such as fundamental analysis and risk management, to make well-rounded trading decisions.
[TTI] IBD's 3 (three) weeks tight close pattern––––HISTORY & CREDITS 🏦
The Three Weeks Tight Close pattern is a technical analysis pattern that occurs when a stock closes at nearly the same price for three consecutive weeks, suggesting a period of consolidation before the stock moves in a new direction. The concept of "line of least resistance" as mentioned by Jesse Livermore is closely related to this pattern. It indicates that there is a period of indecision in the market, with buyers and sellers fairly evenly matched. This pattern is often associated with stocks that have strong fundamentals and a solid business model. The pattern was first discovered by Investor's Business Daily founder William Bill O'Neill.
––––WHAT IT DOES 💡
The Three Weeks Tight Close pattern helps traders identify periods of consolidation in a stock's price movement. During these periods, the stock's closing price remains nearly unchanged for three consecutive weeks. This pattern can be a signal that the stock is under accumulation and potentially ready to make a significant move in either an upward or downward direction. By identifying these tight closes, traders can prepare to take advantage of the solid price run and make profitable trades.
The indicator plots 3 different dots/squares above the weekly bar on order to indicate which consecutive tight close wee have.
👉 Cyan color indicates 3 week tight closes
👉 Pink color indicates 4 week tight closes
👉 Red color indicates 5 week tight closes
––––HOW TO USE IT 🔧
• Focus on weekly charts for easier identification.
• Look for three consecutive weekly closes with nearly the same price, within 1-1.5% of each other. Using the indicator.
• Check for low volume during the tightening period.
• Once the pattern is confirmed, switch to the daily timeframe to find the exact buy point.
• Use other technical indicators to confirm a breakout before taking a position in the stock, such as breakouts, moving averages, and trend lines.
• Monitor the position regularly to ensure continued positive price movement.
• Be patient and wait for confirmation before buying in.
• Use stop-loss orders to limit losses if the stock does not move in the expected direction.
• Consider the overall market and its impact on individual stocks before making a trade.
• Keep in mind that not all three tight closes are created equal and use technical analysis to confirm your suspicions.
By following these steps, traders can use the Three Weeks Tight Close pattern to identify potential trading opportunities and increase their chances of making profitable trades.
RS RatingHello everyone.
The RS Rating (or Relative Strenght Rating) is a metric that tracks a stock's price performance relative to the rest of the market. Specifically, it looks at a stock's relative strength over the last 52 weeks.
It allows you to identify at a glance stocks that are outperforming the market and may be poised for further gains.
Designed for break-out traders, trend follower, value investors, the RS Rating can help you identify promising opportunities and make informed investment decisions.
The Rating stands as follow:
- From 1 (worst) to 99 (best)
- 99 rating means the stock is outperforming 99% of all stocks in terms of relative share price performance over the last 52 weeks.
The RS Rating is accompanied by the RS line which is a representation of the progress of the asset against the comparative symbol. (Here SP500)
Of course this script is inspired by the IBD rating system.
The results may be equivalent but it is not guaranteed.
This indicator proposes a scoring system in the style of the one proposed by IBD.
Indeed for an optimal result, it would be necessary to compare the relative performance of all actions, which is not yet possible on PineScript.
Here is the formula for calculating the score:
RS Score = 40% * P3 + 20% * P6 + 20% * P9 + 20% * P12
With
P3 = Performance over the last 3 months
P6 = Performance over the last 6 months
P9 = Performance over the last 9 months
P12 = Performance over the last 12 months
There is no equivalent solution for the moment on TradingView.
The rating score will only appear on the daily timeframe.
For now it's my pleasure to share!
[TTI] IBD Power Trend🏛️ History & Credit
IBD Power Trend is an indicator created by TintinTrading inspired by the Investor's Business Daily and William O'Neil's investment philosophy. It is part of the Market School methodology.. It's built on the principle that the market's Power Trend is the best time to get aggressive.
💪 What it does
IBD Power Trend helps traders identify when the market's Power Trend starts and finishes. The indicator uses rules about the position of the price relative to the 21EMA and 50SMA, as well as the relationship between the two moving averages, to give traders an edge.
👨🏫 How to use it
IBD Power Trend can be used as an additional criteria to decide when to get more aggressive in the market. It can also be used to assess when to be a pig/tiger. With IBD Power Trend, traders can have more confidence in their trades and make better investment decisions.
Volume Breakouts v2The Volume Breakouts Indicator 2.0 is a comprehensive improvement on its predecessor "Volume Breakouts" with new features and improved performance. It offers high customization options where almost every aspect can be changed to suit your preferences.
The main functionality of the indicator is to display volume that exceeds a certain level of relative volume with a specific color, and now it also differentiates between strong up and strong down days. The legacy mode from the previous version is still available, and the calculation error has been corrected in the legacy mode.
Volume Bars in their default configuration are determined by the following factors: Up and Down days, relative volume , and a strong/weak close range. The strong/weak close range is determined by marking bars with a "strong" color only if the close price is higher/weaker than 60% or 40% of the candlestick range - otherwise the color gets downgraded by one level (for example from strong green upday to medium strong blue upday). The main options for Volume Bars are the "Multipliers", where a multiplier of 1.5 represents 150% relative volume . For example, if there is an up day closing above 60% of its range and the volume is above the defined moving average threshold times the multiplier, the bar will be colored green.
(the option: "Strong/week close range" is optional and can be disabled)
Upday and multiplier 2: green
Upday and multiplier 1: blue
Downday and multiplier 2: red
Downday and multiplier 1: pink
The indicator also integrates Pocket Pivots , which are displayed as "star" icons above the current volume bar. There are two types of Pocket Pivots:
The day's volume should be larger than the highest down volume day over the prior 10 days (Rule No. 3, Chris Kacher)
If the pocket pivot occurs in an uptrend after the stock has broken out, it should act constructively around its 10-dma." The star will appear in black if the first condition is met and red if the second condition is met. (Rule No. 4, Chris Kacher)
The signal (star) will appear in black if the first condition is met and red if the second condition is met.
A new addition to the indicator is the Dashboard of different variables, which can be individually enabled or disabled. These variables include:
Actual volume: the volume of the most recent bar
Actual dollar volume: the amount of $ traded on the most recent bar
Average volume: the average volume over a defined period of time (same as moving average)
Average dollar volume: the amount of $ traded over a defined period of time (same as moving average)
Relative volume: the relative value of the current bar compared to the moving average of the volume
Up/down volume ratio: the total of the stock's volume on days when it closes up divided by the volume traded on days when the stock closed down. The assumption is that if a stock closes up for the day, the volume was buying induced and thus the stock is under accumulation
Free floating shares: Free float, also known as public float, refers to the shares of a company that can be publicly traded and are not restricted (for example held by insiders)
Rocket Ratio: Is a value (Formula: Float/AvgVolume) which measures the liquidity of the stock. A lower value means that fewer shares can move the stock fast. The default threshold is < 150
All colors can be customized, and there is also a predefined option for dark mode.
WON WeekliesWilliam O'Neil was a big proponent of using weekly charts, often highlighting the significance of 3 or more tight weekly closes, or a sequence of five or more consecutive up weeks. This indicator recognizes both of these conditions providing clear visual cues to signify this institutional buying activity. When three tight weekly closes or more occur a circle will be drawn around the middle close or the background will change color, depending on user preference. If five or more consecutive up weeks are detected a box is drawn around all the price action of those weeks.
User Options:
- Choose to display both or only one condition
- Customizable colors
- Define what a tight close is (default is less than 1.5%)
- Change background color or display smaller circles for 3 weeks tight
- Alerts for both
Note: 5 weekly closes wont print until the 5th weeks candle is closed.
[TTI] Minervini MonAlertHISTORY AND CREDITS–––––––––––––––––––––––––––––––––––––––––––––––––––––––
The inspiration for this script comes from the stealth platform functionality by Mark Minervini, that he calls MonAlert. The acronym for which comes from Monitor and Alert. The indicator has been developed for the traders, who would like to have "Minervini-like" eyes on technical setups for confirmation and violations. It paints on the chart the things that Mark looks for pre and post buy to confirm or violate the trade.
WHAT IT DOES––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
The script provides visual and summarised view for technical confirmation and violations of the chart.
The main functionality comes in the form of a button called "Mon Alert". For quick comprehension, the label changes colors and can be 3 colors:
🟩. Green means that confirmations > violations
🟨 Yellow means that confirmations = violations
🟥 Red means that confirmations < violations
When you hover on top of the shape you get a quick report of the technical health of the chart:
👈 click to watch video
The report summarised over 42 different signals in ONE!!
20 violations, 19 confirmations and 3 warning signs
The signals group as follows:
👉 Rules 1-3 deal with the position of the price against the configured Moving averages
👉 Rules 4 & 5 deal with Volume calculations. In essence how does the volume on up days compare against volume on down days. Also how much was the breakout volume compared to the highest down volume.
👉 Rules 6-8 deal with price patterns. The indicator looks if the price pattern has printed 3 lower lows, the number of good vs ad closes as well as respect of the breakout day low
👉 Rules 9-11 deal with the Weekly and Daily patterns. In essence we look for consecutive up weeks, big down weeks on large volume
👉 Rules 12-13 deal with % advancements. There is a famous rule of William O'Neil about stock making 20% advancement. The script also looks for significant advancements like 3% declines or advancements
👉 Rule 14-15 deal with Distribution counts, Number of closes on high vs Number of closes on low as well as Angle D setup, a term coined by Mark of the price close vs 50D SMA.
Additionally, there is the functionality to plot these on the exact bar when they occur.
All signals use price action and volume action only to determine whether the action is confirming or violating. The rules also employ calculations around the moving averages to determine results. The indicator only takes into account price action from the date onwards only.
HOW TO USE IT–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
The indicator is great for people who want to train their eyes on the confirmations and violations of a setup BEFORE or AFTER they make a position.
After you load the script you choose from when does the MonAlert start working, you do this by selecting vertical time line and after a few seconds of calculations the indicator appears with the report.
When the violations pile on (e.g. MonAlert button is red), this signals the trader that it is not favorable to stay in the stock anymore and hence close any long position.
On the contrary, when the MonAlert button is green, then the trader is advised to keep position.
[TTI] Gilmo's Pocket Pivots and Buyable Gap UpsHISTORY AND CREDITS–––––––––––––––––––––––––––––––––––––––––––––––––––––––
The credit for this goes to Gilmo - Gil Morales. Who I have learned the methodology from. If you are looking to understand more, just read his books where he covers many aspects of his IBD inspired trading. Hes a disciple of Bill Oneil.
WHAT IT DOES––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
The indicator has 2 major signals. Showing the PocketPivots and Showing Buyable Gap Ups.
Both are bullish signals for a long play.
⬜️. Pocket Pivots are indicated by white arrow up, and show a combination of setups, but the main criteria is a day where the up volume is higher than any down volume for the last 10 days.
🟩 Green Buyable Gap Up - shows the places where certain technical criteria are met for a Gap and Go scenario. The criteria requires a big enough gap compared to yesterdays close, strong close and enough volume to make the signal trigger. There is high probability that once these 3 requirements are met, the ticker can experience a gap and go type of situation.
🟦 Blue Buyable Gap Up (early) - show the same as green but remove the criteria for volume. This allows us to jump onboard on the same day of the gap, since generally the volume condition can be evaluated only near the end of the day. In essence the Blue signal is preceeding the Green.
HOW TO USE IT–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Both are bullish signal for a long setup.
I have found that the Pocket Pivot is a very reliable signal, even in a downmarket like the 2022. I look for a proper base and then the pocket pivot has been a reliable trigger for change in the supply and dynamic balance.
The Buyable Gap Up, I also look to grab after a base formation. I especially look to play buyable gap ups in the beginning of a trend reversal. This means that Gap up after a long uptrend (3+ bases) is more likely to fail than those early in the trend.
My suggestion is to add this tool to your toolbox of evaluation as a time entry signal.
