Earnings Gap UpsBased on research conducted by John Pocorobba and Jason Thompson, the Earnings Gap Ups Indicator is designed to identify three types of earnings gaps, key levels, and the "alpha window"—a period when stocks often outperform following a gap. These gaps are frequently observed in high-performing stocks.
What is an Earnings Gap?
An earnings gap occurs when a stock's price makes a significant jump, after the company reports earnings signifying the street (institutions) were caught off guard.
The three different types of gaps are as follows: [/b
PEG (Power Earnings Gap)
Price gain of 10% or more
Volume is greater than 200% above the 50-day average
EPS surprise of at least 20%
Monster Gap
Price gain of 20% or more
Volume is greater than 300% above the 50-day average
No fundamental requirement
Monster Peg
Price Gain of 20% or more
Volume is greater than 300% above the 50-day average
EPS surprise of at least 20%
Key Levels and the Alpha Window
In addition to spotting these gaps, the indicator marks key levels on the chart and extends them through the alpha window, which represents the time period when the stock tends to outperform after the gap.
Key levels include:
High volume close: The closing price on a day with unusually high trading volume
High volume close minus 5%: A potential support level below the high volume close
Gap day high: The highest price reached on the gap day
Gap day low: The lowest price reached on the gap day
By understanding and tracking these gaps and levels, traders can map out a playbook for trading earnings gaps.
Oneil
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.
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.
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] 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.
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!
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.
EPS & SalesHi everyone,
I just adapted a little utility script to visualise EPS % increase (quarters vs Year -1) and sales.
I used the code from @ARUN_SAXENA and modified it to fix what I saw as issues.
(Using base 3M instead of 1M +
request.earnings(syminfo.tickerid, earnings.actual, ignore_invalid_symbol=true)
instead of
request.financial(syminfo.tickerid, "EARNINGS_PER_SHARE", "FQ")
Data will differ from MarketSmith because they use sometimes actual EPS sometimes standard, but think we can at least trust what we see in term of %
The tool is far from being perfect !
