Dragon Double RSI Overbought-Oversold With LabelThis indicator consist of tow RSI length that user can customize it. like length, overbought, oversold. like length, overbought, oversold. also it has one moving average where the user can select from different types of moving averages, price sources, lookback periods and resolutions
Rsi_overbought
ARKA-RSI CrossThis indicator draws two RSI with different parameters and displays the crosses with the following conditions as colored arrows. This composite RSI can be adjusted in two ways. for example:
1. Cross parameters 5 and 14 above or below 50 which is indicated by light-colored arrows in the chart.
2. Cross parameters 5 and 14 of level 50, which are indicated by darker arrows.
RSI - S&P Sector ETFsThe script displays RSI of each S&P SPDR Sector ETF
XLB - Materials
XLC - Communications
XLE - Energy
XLF - Financials
XLI - Industrials
XLK - Technology
XLP - Consumer Staples
XLRE - Real Estate
XLU - Utilities
XLV - Healthcare
XLY - Consumer Discretionary
It is meant to identify changes in sector rotation, compare oversold/overbought signals of each sector, and/or any price momentum trading strategy applicable to a trader.
Dragon Double RSIMost important thing is feeling inspired and relaxed. Forcing your way into anything under stress and pressure will only end up in disaster
This indicator consists of three RSIs.
RSI: RSI is common and its length is 14.
RSI 1: The slowest RSI. The length is 100.
RSI 2: Faster than RSI 1. The length is 50.
Bonds RSIA visually appealing RSI indicator with "at a glance" visual cues to quickly and easily identify who is in control of the chart.
This indicator provides clear "Bull" and "Bear" control zones, as well as a built-in EMA that is color changing based on the trend direction.
All functions, specific data points and color themes are 100% customizable to allow the user the ability to tweak all aspects of this tool to their own liking.
As time allows I will be adding additional features & functions.
Please like & share this indicator if you find it useful.
RSITrendStrategyI don't know if there is any strategy based on RSI cross over. The strategy is designed based on RSI crossover, considering RSI(5) and RSI(11), with RSI(6) to identify highs & lows.
I used this strategy to trade in Nifty 50 & Nifty bank indices. Whenever there is long mentioned on chart, I go for buying call option with premium near to 300, and placing stoploss of 50 on candle closing basis, vice versa.
Target is open until short is mentioned on the chart. Sometimes, i used standard pivot points as well to mark my targets and also to trail my trades.
RSI Integral by Hawkeye Charting**** German Description below ****
This is the RSI Integral indicator.
Basically, it's a normal RSI but improves the visualization of the strength in the market.
The upper shown RSI display the integral of the RSI (f(x)) and the neutral RSI level (50) (g(x)).
The blue background coloring visualizes the area as the integration of both the mentioned functions --> H(x) = F(x) - G(x) and indicates, how strong and directed the market currently is.
Markets regulate and bring them back to the mean by themselve; by that fact, the consideration is that remaining a longer time in e.g. the upper zone requires to "unleash" the collected energy from the upper levels to the downside and vice versa.
So the major advantage of this indicator is to monitor and compare the given areas above and below the neutral level and making imbalances visible.
Furthermore, the lower shown RSI shows the complete displaying of the indicators functions, as it displays possible long and short entry and exit areas.
Read the chart to understand the system. Please note that the program waits on interval after the actual cross event before it changes the background color. This is to avoid false signals that last only 1 candle.
The last components are the overbought and oversold zones. They are equal to the standard RSI overbought and oversold levels.
You have the following setting options:
--> Timeframe selection
--> Generally Displaying the RSI yes/ no
--> Changing source, length and color of the RSI itself
--> turning on/ off the neutral RSI level (50), changing the neutral level value and changing the background color. (Note: Undisplaying the neutral level will remove the background coloring as well).
--> turning on/ off the upper RSI zone, changing the zone-border-values and -colors and changing the background color. (Note: same as neutral RSI level)
--> turning on/ off the lower RSI zone, changing the zone-border-values and -colors and changing the background color. (Note: same as neutral RSI level)
--> turning on/ off the RSI average, changing the Moving Average type, length and color.
--> turning on/ off the Moving Average Long/ Short Background and changing the colors for long and short direction.
--> smoothing of the rsi itself. Note: it will affect the alert events as well, if the rsi smoothing function is selected.
Last but not least, you can set alerts:
--> Alert for overbought/ oversold area (cross in/ cross out, message: Check for divergences)
--> Alerts for open and close long
--> Alerts for open and close short
A complete "Alert-Set" requires 6 Alerts.
I'd like to know what you think! Please leave a comment, I will answer ASAP .
Please leave a like and a follow if you like this work and don't forget to check out my major work, the Market Maker Volatility Diameter, see the link below.
Enjoy and always happy trades.
Yours
Markus aka Hawkeye Waver from Hawkeye Charting
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**** Deutsche Beschreibung ****
Das ist der RSI Integral Indikator.
Im Grunde handelt es sich hierbei um einen normalen RSI , allerdings verbessert er die Visualisierung der Stärke im Markt.
Der obere RSI im Beispielbild zeigt das Integral des RSI , bezogen auf den RSI f(x) selber sowie seines neutralen Levels beim Wert 50 = g(x).
Der blaue Hintergrund visualisiert die Flächenfunktion des Integrals der beiden genannten Funktionen --> H(x) = F(x) - G(x) und indiziert, wie stark und nach wohin der Markt gerade gerichtet ist.
Märkte regulieren sich selber und bringen sich auch immer wieder selber zum Durchschnitt und zur Balance zurück. Dieser Fakt führt zu der Überlegung, dass ein langes Aufhalten in z.B. der oberen Zone unweigerlich eine "Freisetzung" der gesammelten Energie der oberen Levels nach unten nach sich ziehen wird und umgekehrt.
Die Hauptvorteil dieses Indikators ist also, dass die entstandenen Flächen über und unter dem Neutralen RSI Level einfach beobachtet und verglichen werden können, um so Ungleichgewichte im Chart zu erkennen.
Desweiteren zeigt der unten im Chart abgebildete RSI die vollständige Anzeige der Indikatorfunktionen. Es ist nämlich auch möglich, Long und Short Signale für Einstieg und Ausstieg anzuzeigen.
Bitte lest den Chart, um das System zu verstehen. Beachtet: das Programm wartet 1 Intervall zur Bestätigung, bevor es einen Traderichtungswechsel auch anzeigt. Diese Maßnahme wurde getroffen, um falsche Signale zu reduzieren.
Die letzten Komponenten sind die Überkauft- und Überverkauftzonen. Sie sind gleich wie die Standard RSI überkauft und überverkauft Levels zu interpretieren.
Der Indikator bietet die folgenden Einstellmöglichkeiten:
--> Timeframe Auswahl
--> RSI generell anzeigen ja/ nein
--> Quelle, Länge und Farbe des RSI selber verändern
--> Neutrales RSI Level an- und ausschalten, Level-Wert verändern und die Hintergrund-Farbe ändern. (Anmerkung: Das Abschalten des Neutralen RSI Levels wird auch die Hintergrundfärbung abschalten.)
--> An- und Ausschalten der oberen RSI Zone, Zonengrenzwerte und -farben verändern und Hintergrundfarbe verändern. (Anmerkung: s. Neutrales RSI Level)
--> An- und Ausschalten der unteren RSI Zone, Zonengrenzwerte und -farben verändern und Hintergrundfarbe verändern. (Anmerkung: s. Neutrales RSI Level)
--> An- und Ausschalten des RSI Durchschnitts, verändern des Durchschnitt-Typs, der Länge und der Farbe
--> An- und Ausschalten der Durchschnitt Long und Short Hintergrundfärbung sowie Änderung der Hintergrund Farben für Long und Short Richtung
--> Glättung des RSI. Anmerkung: Die Alarme werden sich auf den geglätteten RSI und nicht auf den RSI selber beziehen, wenn die Funktion selektiert ist.
Zu guter Letzt, der Indikator bietet die Funktion, Alarme einzustellen:
--> Alarm für Überkauft/ Überverkauft Zonen (Einkreuzen/ Auskreuzen, Nachricht: Auf Divergenzen prüfen)
--> Alarme für Long Öffnen & Schließen
--> Alarme für Short Öffnen & Schließen
Ein vollständiges "Alarm-Set" benötigt 6 Alarme.
Ich möchte gerne wissen, was ihr über den Indikator denkt! Bitte hinterlasst eure Kommentare, ich werde asap antworten.
Bitte hinterlasst ein Like und ein Follow wenn euch diese Arbeit gefällt und vergesst nicht, meine Hauptarbeit, den Market Maker Volatility Diameter auszuchecken, s. Link unten.
Viel Spaß mit dem Indikator und allzeit gute Trades
Euer
Markus aka Hawkeye Waver von Hawkeye Charting
Floating RSI IndicatorThe Simple Floating Relative Index Strength Indicator to analysis the real time value of RSI along with High Minus Low of Day , Week and Monthly candle value and Real time Candle Body size. Simple indications of colors i.e. green indicates bullish and red indicates Bearish
BB-RSI-ADX Entry PointsThis is a combination of indicators used to find oversold and overbought entry points for possible reversion.
A Green arrow will appear when all condition are met for an ENTER LONG position.
A Red arow will appear when all condition are met for an ENTER SHORT position.
You can modify all of these condition parameters from the indicator's settings.
How does the indicator work
The signals are using Bollinger Bands , BB %B , RSI and ADX indicators to try and find points of reversal
Enter LONG Conditions
Current candle low is below BB lower band.
The BB %B is more than 0.
RSI > 30
ADX > 25
Enter SHORT Conditions
Current candle high is above BB upper band.
The BB %B is less than 1.
RSI < 70
ADX > 25
Those are the default settings that seem to work for me but you can customize all of these from the indicator settings.
I find this strategy to best work on a 3 minute timeframe
Note: The bb %B is calculated for stDev - 1. This will help you see a change happening faster.
MTF RSI ScannerThis RSI scanner can be use to identify the relative strength of 10 symbols over multiple timeframes
it will give you a quick overview which pair is more bearish or more bullish and also signals tops and bottoms in the AVG row
light red/green cell = weak bearish (RSI = 45-35) / bullish (RSI = 55-65)
medium red/green cell = bearish (RSI = 35-25) / bullish (RSI = 65-75)
dark red/green cell = strong bearish (RSI <= 25) / bullish (RSI >= 75)
gray cell = neutral (RSI= 45-55)
Usage
If AVG (average of all 4 timeframes) falls below 30, the cell will get green, indicating a good time to enter long (buy)
If AVG (average of all 4 timeframes) rises above 70, the cell will get red, indicating a good time to enter short (sell)
Use the "MTF RSI Scanner" in combination with the "MTF Stochastic Scanner"
to find tops (RSI MTF avg >=70 AND Stochastic MTF avg >= 80)
or bottoms (RSI MTF avg <= 30 AND Stochastic MTF avg <= 20)
Here is how the two MTF scanners looked on Nov 08 2021 (ATH) »
and here how the MTF scanners looked on June 21 2022
use TradingViews Replay function to check how it would have worked in the past and when not.
As always… there NOT a single indicator that can show to the top & bottom 100% every single time. So use with caution, with other indicators and/or deeper understanding of technicals analysis ☝️☝️☝️
Settings
You can change the timeframes, symbols, RSI settings, overbought/oversold levels and colors to your liking
Drag the table onto the price chart, if you want to use it as an overlay.
NOTE:
Because of the 4x10 security requests, it can take up to 1 minute for changed settings to take effect! Please be patient 🙃
If you have any idea on how to optimise the code, please feel free to share 🙏
*** Inspired by "Binance CHOP Dashboard" from @Cazimiro and "RSI MTF Table" from @mobester16 ***
Rainbow Oscillator The Rainbow Oscillator is a technical indicator that shows prices in overbought or oversold areas. That allows you to catch the price reversal point.
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FEATURES
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.:: Dynamic levels ::.
The indicator levels are divided into several zones, which have a fibonacci ratio. Zones determine the overbought/oversold level. Blue and green level zones are better for buying, red and orange for selling. Dynamic levels are used as replacements for classic levels such as -100 and 100 for the CCI indicator or 30 and 70 for the RSI indicator. Dynamic levels work much better than static levels, as they are more adaptive to the current market situation.
.:: Composite oscillator (3 in 1) ::.
The main signal line of the indicator includes all three oscillators RSI, CCI, Stoch in different ratios. In the settings, you can change the proportions or completely remove one of the oscillators by setting its weight to 0
.:: CCI + RSI + Stoch ratio setting ::.
Each of the oscillators has its own weight in the calculation formula: w2 * cci ( + w1 * ( rsi - 50) + (1 - w2 - w1) * ( stoch - 50), this allows you to create the resulting oscillator from all indicators, depending on the weight of each of them. Each weight value must be between 0 and 1 so that the sum of all weights does not exceed 1.
.:: Smoothing levels and lines of the oscillator ::.
Smoothing the oscillator readings allows you to filter out the noise and get more accurate data. Level offset allows you to customize the support for inputs.
.:: Market Flat ::.
Dynamic creation of levels allows you to find in the price reversal zone, even when the price is in a flat
.:: Sources ::.
You can change the data source for the indicator to the number of longs and shorts for the selected asset. For example, BTCUSDLONGS / BTCUSDSHORTS is perfect for Bitcoin, then the oscillator will work on this data and will not use the quote price.
.:: Trend Detection ::.
The main line of the oscillator has 2 colors - green and red. Red means downtrend, green means uptrend. Trend reversal points are most often found in overbought and oversold zones.
.:: Alerts ::.
Alerts inside for next events: Buy (blue point) Sell (red point) and TrendReversal (change line color)
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TRADING
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There are several possible entry points for the indicator, let's consider them all.
1) Trend reversal.
Long entry: The indicator line is in the green zone below 0 (oversold), while the line changes color from red (downward) to green (upward)
Short entry: The indicator line is in the red zone above the 0 (overbought) mark, while the line changes color from green to red.
2) Red and blue dots.
Long entry: Blue dot
Short Entry: Red Dot
I prefer to use the first trading method.
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SETTINGS
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.:: Trend Filter (checkbox) ::.
Use trend confirmation for red/blue dots. When enabled, the blue dot requires an uptrend, red dot requires downtrend confirmation before appearing.
.:: Use long/shorts (checkbox) ::.
Change formula to use longs and shorts positions as data source (instead of quote price)
.:: RSI weight / CCI weight / Stoch weight ::.
Weight control coefficients for RSI and CCI indicators, respectively. When you set RSI Weight = 0, equalize the combo of CCI and Stoch , when RSI Weight is zero and CCI Weight is equal to the oscillator value will be plotted
only from Stoch . Intermediate values have a high degree of measurement of each of the three oscillators in percentage terms from 0 to 100. The calculation uses the formula: w2 * cci ( + w1 * ( rsi - 50) + (1 - w2 - w1) * ( stoch - 50),
where w1 is RSI Weight and w2 is CCI Weight, Stoch weight is calculated on the fly as (1 - w2 - w1), so the sum of w1 + w2 should not exceed 1, in this case Stoch will work as opposed to CCI and RSI .
.:: Oscillograph fast and slow periods ::.
The fast period is the period for the moving average used to smooth CCI, RSI and Stoch. The slow period is the same. The fast period must always be less than the slow period.
.:: Oscillograph samples period::.
The period of smoothing the total values of indicators - creates a fast and slow main lines of the oscillator.
.:: Oscillograph samples count::.
How many times smoothing applied to source data.
.:: Oscillator samples type ::.
Smoothing line type e.g. EMA, SMA, RMA …
.:: Level period ::.
Periodically moving averages used to form the levels (zone) of the Rainbow Oscillator indicator
.:: Level offset ::.
Additional setting for shifting levels from zero points. Can be useful for absorbing levels and filtering input signals. The default is 0.
.:: Level redundant ::.
It characterizes the severity of the state at each iteration of the level of the disease. If set to 1 - the levels will not decrease when the oscillator values fall. If it has a value of 0.99 - the levels are reduced by 0.01
each has an oscillator in 1% of cases and is pressed to 0 by more aggressive ones.
.:: Level smooth samples ::.
setting allows you to set the number of strokes per level. Measuring the number of averages with the definition of the type of moving averages
.:: Level MA Type ::.
Type of moving average, average for the formation of a smoothing overbought and oversold zone
Double RSI/LSMA Double RSI uses a Slow RSI combined with a Fast RSI to generate Buy and Sell signals. Least Squares Moving Average is only here for filtering signals. It is very good on certain stocks or ETFs on longer timeframes for swing trading. If you get a Buy signal look at the LSMA trend and if the candle is above the LSMA. It works great for me on lower timeframes scalping futures and on higher timeframes swinging options. It is better than paying for Buy and Sell signals. Its my first script/indicator so play with it and see what you think. Let me know if you guys find anything that makes it better. Hopefully this helps some traders out there.
RSI CandlesRSI Candles
HOW Does it work ?
* RSI - Relative Strength Index is a very well known to understand the trend strength, Many researches have been done on RSI.
* The Indicator defines itself as the Candles are formed of RSI Value of Defined Length and Chart Time Frame.
RSI Candles comprises of following --
* Candles formed from RSI value.
* Predefined Moving average limited line for breakout.
* Up Trend Area, Down Trend Area, Consolidation Area when RSI is in-between 55 to 45.
User Inputs --
# User can change length of RSI.
# Over Bought / Sold values can be changed.
How to learn the trend ?
# Time Frame shall be more than 2 min. for better outcome.
# If the market is below the line then look for falling in RSI and one can learn the down trend.
# Over bought / Over sold be clearly seen in chart so trend reversal can be grabbed.
# The data for the indicator will be very restricted, most of the parts in indicator wont work when the market closes.
# Pre-Opening or Post -Market data is tried to be ignored.
# Utmost Care is taken to implement the suggestions of users and also tried to keep the chart neat and clean.
Disclaimer
# The indicator to be used for understanding / learning the markets.
# User is responsible for his / her profits / losses, that may occur during the markets.
RSI Supply / Demand ZonesLines plotted for the Low and High of the region of price that was Overbought or Oversold
(Low of the candle that became overbought and highest high in the Overbought period)
(High of the candle that became oversold and highest high in the Oversold period)
I like to use the dotted lines as pivot points for the reversal of the trend, and also pay attention to small tops and bottoms (normal lines) that form in strong trends, as they usually make for brief periods of acummulation/distribution before the continuation of the strong trend.
RSI with Divergences, Reverse Formulas, and Bull/Bear ZonesRegular RSI indicator that can underline divergences, turn green or red specifying user specified bull/bear zones, and with a label showing the price needed to turn bull/bear!
Specify the inputs:
+ RSI Length
+ Bull Threshold
+ Bear Threshold
+ Panel Position Offset
Also with toggle-able:
+ Bullish Divergence
+ Bearish Divergence
+ Hidden Bullish Divergence
+ Hidden Bearish Divergence
The zones included in the indicator are default and not meant to be used for all markets. The goal is to alter the bull/bear zones to find good breakout points and selloff points for your chosen security. Does not currently support automatic zone creation, or saving zones for each security (if that is even possible, may just need to create different layouts for each security).
Thanks!
RSI Multi Length [LuxAlgo]The following indicator aims to return information over RSIs using multiple periods, including the percentage of RSIs of different periods being overbought/oversold, as well as the average between these multiple RSIs.
The percentage of RSIs of different periods being overbought/oversold is additionally used to return adaptive overbought/oversold levels.
Settings
Maximum Length: Maximum period of the RSI used for the indicator calculation
Minimum Length: Minimum period value of the RSI used for the indicator calculation
Overbought: Value of the overbought level
Oversold: Value of the oversold level
Src: Input source of the indicator
Usage
The main element of the indicator is given by the multi-length RSI average, returning an oscillator similar to a fixed-length RSI. Because of its multiple length nature, the indicator can reflect shorter to longer-term price variations depending on the Maximum/Minimum length range defined by the user.
The green area indicates the percentage of RSIs over the user-defined overbought level. The red area indicates the percentage of RSIs under the user-defined oversold level, this percentage is inverted for ease of visualization. Additionally, a dashboard at the top right of the indicator pane indicates these percentages for the most recent bar.
A lower percentage of overbought/oversold RSIs can indicate a potential shorter-term retracement.
These percentages are used to construct adaptive overbought/oversold levels for the average multi-length RSI. The overbought level will be easier to reach if the percentage of overbought RSI's is high, the same logic applies to the adaptive oversold level.
RSI DINGUE - 3³ DivergenceThis is the updated version for PineScript V5
3x RSI indicator into 1. You can turn on or off all of them.
Each RSI has 2 individual Moving Averages that can also be changed to be "Full RSI" in the settings.
This makes 3x3 = 9 indicators on screen at the same time. (you can turn them on or off)
It has Bullish and Bearish divergence and hidden divergence as well.
Several visual options to show crosses between RSIs and or MAs fill in colors, background colors, midline. Overbought and Oversold levels with signals when entry and exit.
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In closing, no indicator can give perfect signals, you need to use them in conjunction with other information to make better decisions.
I hope you like my indicators and that they help your trading.
If you have any questions please ask.
Thank you.
RSI Overbought Oversold Divergence Strategy w/ Buy/Sell SignalsThis indicator is a copy of my RSI Overbought/Oversold Divergence Indicator with-Alerts
Only difference is that the alerts are disabled, instead it uses tradingviews strategy tester signals
If you want alerts just use the other indicator
NEXT RSIThis is an amped-up version of the original Relative Strength Index (RSI) oscillator, giving the slope a smoother, sometimes leading edge. Our not-so-secret sauce within the algo is price/volume weighing, completely user configurable. NEXT RSI is intended to be used just like the vanilla RSI within the context of technical analysis: identifying overvalued (above upper limit) and undervalued (below lower limit) price action, as well as establishing a bias baseline (bullish if over 50; bearish if under 50). Higher NEXT RSI bottoms compared to lower price bottoms signify bullish divergence; lower NEXT RSI tops compared to higher price tops signify bearish divergence.
Below is a screenshot comparing NEXT RSI with default settings to vanilla RSI on AAPL M1 chart.
Input parameters:
Length: controls the averaging length of the RSI line.
P/V Weighing: a price/volume smoothing filter, with higher values yielding a smoother RSI line. Values over 10 can introduce lag but also help identify trend. We thought 5 was a pretty good momentum gauge (strengthening, weakening).
P/V Source: this variable is where you can get creative and blend volume with either direct price action (close, H+L/2, etc.) or other indicators such as moving averages, stochastic oscillator, and even the vanilla RSI.
OGT RSI MTF IndicatorThe OGT RSI MTF Indicator allows you to see when the RSI is overbought/oversold on multiple timeframes simultaneously.
Indicator settings
You have the ability to customise the RSI period as well as the OB/OS levels. What sets this indicator apart is that it you can select the timeframes which the RSI is OB/OS.
How is this displayed on the chart, and how can I make money with this indicator?
One of the most popular applications of the RSI indicator is that it can be used as a reversal signal when an instrument comes out of OB/OS. You can stack the odds in your favour when multiple timeframes are OB/OS at the same time which can have a higher probability of a pullback.
When the selected timeframes are OB, shaded red lines will appear. This indicates that a possible reversal to the downside is coming and you may want to look for a short position or closing an open position.
When the selected timeframes are OS, shaded green lines will appear. This indicates that a possible reversal to the upside is coming and you may want to look for a short position or closing an open position.
There is also a handy visible grid which shows the current RSI values for the selected timeframes.
The RSI MTF indicator combined with regular divergence and/or support & resistance can be a powerful trading strategy.
RSI Divergence + EMA @DaviddTechVery simple strategy that will look for Divergence on the RSI.
My Strategy for this was mixed with the 55 EMA which you can activate in the settings.
WARNING:
- For purpose educate only - My mission is to debunk fake strategies with code to find THE ONE.
- Plots EMAs and other values on chart.
- This script to change bars colors.
Ehlers Modified Relative Strength Index [CC]The Modified Relative Strength Index was created by John Ehlers (Cycle Analytics For Traders pgs 87-88) and this is a typical RSI that uses his roofing filter as the input. He smooths it with his own super smoother filter to provide signals. This indicator is extremely reactive and works in cycles so keep that in mind. I haven't been able to come up with clear buy and sell signals at this point so let me know if you any suggestions but I'm publishing the code to complete my goal of publishing all of his work one day. I will be publishing a bunch of Ehlers scripts in the next few weeks so stay tuned. What I recommend for buy and sell signals at this point are to buy when the indicator goes below the oversold line and starts going up and sell when the indicator goes below the oversold line a second time. Vice versa for sell signals.
Let me know if there are any other scripts you would like to see me publish!
RSING Indicator [CC]The RSING indicator was created by Alon Horesh (Stocks & Commodities March 2021 pg 11) and this aims to be a better version of rsi that adapts to volume as well as a focus on overall strength. This is trying to fix the issues with the traditional RSI with a lack of volume and the issue where you could have the indicator stay in overbought or oversold territory but the upward or downward momentum continues. This indicator takes ratios of the current volume to it's moving average, the overall momentum of the stock, and the current range in comparison to the std deviation of it's past range and multiplies them all together to create this new indicator. I smooth it with a moving average for easier to read buy and sell signals. I have included strong buy and sell signals as darker colors and normal buy and sell signals as lighter colors. Buy when the line turns green and sell when it turns red.
Let me know if there are any other indicators you would like to see me publish!