Level: 1 Background The R-Squared indicator created by Jon Andersen in "Standard error bands" in the September 1996 STOCKS & COMMODITIES . Function This script fristly creates the coeffR function which is used to produced the R-Squared indicator. The coeffR function is used to calculate the correlation coefficient R. Once I have created and verified the coeffR...
Level: 1 Background The standard error bands created by Jon Andersen in "Standard error bands" in the September 1996 STOCKS & COMMODITIES. Function This script calculates the beta and alpha coefficients of the linear regression. First, it creates the calcB and calcA functions, which refer to the beta and alpha coefficients. Create calcB first, then calcA....
Level: 1 Background The Directional Movement Index (DMI) is an indicator developed by J. Welles Wilder in 1978 that shows the direction in which the price of an asset is moving. The indicator does this by comparing previous highs and lows and drawing two lines: a positive directional movement line (+ DI) and a negative directional movement line (-DI). An...
Level: 1 Background Vitali Apirine introuced this RoC indicator of “Rate Of Change With Bands” on March 2021. Function In Vitali Apirine's article “Rate Of Change With Bands” , the author introduces a concept of identifying overbought and oversold levels based on calculating standard deviation bands of the rate of change (ROC) momentum oscillator. The rate of...
Level: 1 Background John F. Ehlers introuced FM demodulator of "A Technical Description Of Market Data For Traders" on TASC MAY 2021 Function John Ehlers introduces the use of FM modulation to determine the cycles of market data. The author also proposes that noise in market data does not necessarily mean chaos and that pink noise in the data implies memory...
Level: 1 Background This script was requested by @pips_v1. "A cycle is one market characteristic that can be scientifically measured. Although they can be measured, they are still maddening because they are in essence ephemeral; they come and they go. Our recent research, however, indicates there is a fundamental cycle parameter that leads us to the correct...
Level: 1 Background This CCI indicator is blackcat customized version with enhanced features. Function This CCI use green line to indicate strong long trend with cci values > 0 and red line to indicate weak long trend with cci values <0. It also use yellow and fuchsia candles to present the strong and weak long trend. A green candle is used to indicate long...