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Relative Strength Comparison

Relative Strength(RSMK) + Perks - Markos KatsanosIf you are desperately looking for a novel RSI, this isn't that. This is another lesser known novel species of indicator. Hot off the press, in multiple stunning color schemes, I present my version of "Relative Strength (RSMK)" employing PSv4.0, originally formulated by Markos Katsanos for TASC - March 2020 Traders Tips. This indicator is used to compare performance of an asset to a market index of your choosing. I included the S&P 500 index along side the Dow Jones and the NASDAQ indices selectively by an input() in "Settings". You may comparatively analyze other global market indices by adapting the code, if you are skilled enough in Pine to do so. With this contribution to the Tradingview community, also included is MY twin algorithmic formulation of "Comparative Relative Strength" as a supplementary companion indicator. They are eerily similar, so I decided to include it. You may easily disable my algorithm within the indicator "Settings". I do hope you may find both of them useful. Configurations are displayed above in multiple scenarios that should be suitable for most traders. As always, I have included advanced Pine programming techniques that conform to proper "Pine Etiquette". For those of you who are newcomers to Pine Script, this script may also help you understand advanced programming techniques in Pine and how they may be utilized in a most effective manner. Utilizing the "Power of Pine", I included the maximum amount of features I could surmise in an ultra small yet powerful package, being less than a 60 line implementation at initial release. Unfortunately, there are so many Pine mastery techniques included, I don't have time to write about all of them. I will have to let you discover them for yourself, excluding the following Pine "Tricks and Tips" described next. Of notable mention with this release, I have "overwritten" the Pine built-in function ema(). You may overwrite other built-in functions too. If you weren't aware of this Pine capability, you now know! Just heed caution when doing so to ensure your replacement algorithms are 100% sound. My ema() will also accept a floating point number for the period having ultimate adjustability. Yep, you heard all of that properly. Pine is becoming more impressive than `impressive` was originally thought of... Features List Includes: Dark Background - Easily disabled in indicator Settings->Style for "Light" charts or with Pine commenting AND much, much more... You have the source! The comments section below is solely just for commenting and other remarks, ideas, compliments, etc... regarding only this indicator, not others. When available time provides itself, I will consider your inquiries, thoughts, and concepts presented below in the comments section, should you have any questions or comments regarding this indicator. When my indicators achieve more prevalent use by TV members, I may implement more ideas when they present themselves as worthy additions. As always, "Like" it if you simply just like it with a proper thumbs up, and also return to my scripts list occasionally for additional postings. Have a profitable future everyone!
Pine Script™ indicator
by ImmortalFreedom
16
Relative Strength IndexThe relative strength index (RSI) is a momentum indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or other asset. The RSI is displayed as an oscillator (a line graph that moves between two extremes) and can have a reading from 0 to 100. The indicator was originally developed by J. Welles Wilder Jr. and introduced in his seminal 1978 book, New Concepts in Technical Trading Systems. Traditional interpretation and usage of the RSI are that values of 70 or above indicate that a security is becoming overbought or overvalued and may be primed for a trend reversal or corrective pullback in price. An RSI reading of 30 or below indicates an oversold or undervalued condition...more here . ------------------------- *This indicator uses standard RSI settings of a 14-period lookback with a midline of 50, overbought level of 70 and oversold level of 30. This RSI indicator has been modified to include a simple moving average of the RSI, adjustable overbought and oversold horizontal lines, a color-changing RSI line, color-filled RSI horizontal levels and color-filling the space between the RSI and simple moving average. -This simple moving average(SMA) is set to a lookback period of 14 and is plotted as a white line. As the RSI moves above and below the SMA the color of the RSI changes; when above the SMA the RSI is lime, when below he SMA the RSI is pink. Lime indicates bullish momentum for RSI, pink indicates bearish momentum for RSI. -When the RSI line is above 70 the RSI and background both turn yellow, this indicates overbought conditions. -When the RSI line is below 30 the RSI and background both turn red, this indicates oversold conditions. -The backgrounds fill the levels the RSI is trading between and can be turned on/off. -The space between the RSI and SMA is filled and can be turned on/off. -The RSI line can be set to solid or multi-color. -The horizontal lines can be adjusted and turned on/off. -The SMA can be adjusted. For crypto or volatile markets, overbought and oversold levels of 80 and 20 are recommended.
Pine Script™ indicator
by PrepForProfit
3
(14) Turning Point Volume VS-332Although dramatic increases in volume can accurately reflect the sentiment of changes in price, small changes do as well.  Think of it this way.  Every share sold or purchased is a vote for or against the current price action.  If the price has gone up today and the volume also went up, compared to the previous days volume, the votes of the majority of the traders that produced this volume agreed with the sentiment that this price change represented.  If the volume was suppressed on this price increase, that sentiment was not confirmed.  This provides you with a very good window into the collective minds of traders allowing you to judge every candle, every indicator and every price action in a much more initiative and accurate way.  The SDG Turning Point Volume indicator again utilizes a dot system to easily allow you to see in a glance if the volume is confirming the price action sentiment (green dot) or if it is discounting the price action (red dot.)   There are many situations where volume alone can indicate important inflection points in an equities direction.  It may not even reverse direction, but an abrupt change in the rate of change, can be a very profitable entry point – if you can see it coming and act in advance of some or most of the traders making this market. Access this Genie indicator for your Tradingview account, through our web site. (Links Below) This will provide you with additional educational information and reference articles, videos, input and setting options and trading strategies this indicator excels in.
Pine Script™ indicator
by StockSwinger
[RSM] Relative Strength Momentum v1.0 [pvt]This indicator was designed to compare relative price momentum across multiple related/unrelated symbols, maximum of 6. Each symbol's momentum/trend is determined by price movement and custom weighted moving averages. You can use this indicator to determine changing trends by looking at correlated leading symbols. Description of Input Parameters: Dark theme: Turn on this checkbox if you are using the dark theme in Tradingview. MA Type: Default is preferred, but allows you to choose different Moving Averages to determine momentum. MA Period: Ideal period is 200 for a Chart TF of 15 minutes to 1 Hour for most symbols I've tested. (US/Euro Indexes CFD and Futures) Symbol 1-6: Enter a valid Symbol in Tradingview otherwise indicator will return an error. Display Symbol1-6: Checkbox to turn on/off corresponding symbol's plot. Access to Script: Please contact me privately on Tradingview, user id: a.tesla2018 Alternatively, use the links below for method of payment/access to this indicator.
Pine Script™ indicator
by a.tesla2018
2
CPR WidthThe indicator shows the width of the Central Pivot Range. Frank Ochoa call it It Pivot Range Histogram in his book. Use it in conjunction with the Central Pivot Range indicator. Below is the interpretation of the reading. CPR Width > 0.5 - Sideways or Trading Range Day, CPR Width > 0.75 - increases the likelihood of sideways trading behavior, CPR Width < 0.5 - Trending type of day, CPR Width < 0.25 - increases the likelihood of a trending market. The above reading only increases the likely-hood of the possibility and not always right.
Pine Script™ indicator
by UnknownUnicorn5882959
40
MavXtrenderConverted the B-Xtrender script from Puppytherapy into a strategy script. B-Xtrender was created by Bharat Jhunjhunwal and published in this IFTA Journal . I've added the following features: Ability to use factors instead of individual values for each parameter. This will allow you to quickly check different averages (5 vs 7 for example). Defaults adjusted for crypto trading (7 days/week). Switches to use either the short or long term indicator, or both. Time window
Pine Script™ strategy
by ToS_Maverick
1
Bitcoin Jack PA Wizard Helper LightThis is the visual helper for the Bitcoin Jack PA Wizard light version. Light version supports: - 4H, D and 3D timeframes. Nothing will be shown on different timeframes. - Fixed pre-configured settings. Instructions: - For assets with unreliable volume data or missing volume data, turn off the "Volume adjusted" setting in the settings menu, otherwise nothing will be displayed. - PDelta > 0 = bulls are in charge - PDelta < 0 = bears are in charge - PDelta near 0 = balance between bulls and bears This indicator is not for sale & will be occasionally given away in Twitter give-aways.
Pine Script™ indicator
by BTC_JackSparrow
Bitcoin Jack PA Wizard Signal LightThis is the light version of the Bitcoin Jack PA Wizard signal overlay. This algorithm will signal sells if it believes bears are in charge and buys if it believes the opposite. Light version: - Support for 4H, D and 3D timeframes. You will not see any signals on other timeframes. - Fixed configuration for each timeframe, non adjustable. Accompanying this overlay, there is a helper indicator, visually showing the strength of bears / bulls. This indicator is not for sale & will be given away to randomly selected winners of occasional Twitter give-aways.
Pine Script™ indicator
by BTC_JackSparrow
1
Bitmex BTC Perps vs Futures This chart is specifically designed to overlay XBTUSD, Bitmex Perpetual Inverse Swap contracts, so as to have a quick reference of the correlation between Futures and Perpetuals on the Bitmex exchange. Algos keep everything pretty close, but discrepancies can be gleaned if one is looking closely enough. Very basic script, but makes things a little more convenient than what I was using for this before. Publishing because, why not? A Premiums indicator would complement this script nicely.
Pine Script™ indicator
by CassandraOfCrypto
Multiple BTC RSIs in a single indicatorPlots in a single indicator the Bitcoin RSI of multiple exchanges. The selected exchanges are Bitmex, Binance and Coinbase. The reason is that these are the ones with the highest 24h volume (coinmarketcap) and have a ticker available in Trading View. One drawback with this indicator is that it doesn't automatically adjusts its resolution when the Bitcoin chart is rendered across timeframes. You have to manually update the time resolution in the settings window for the indicator.
Pine Script™ indicator
by givanse