SuperTrendSHey! By using this script you can choose between the Regular SuperTrend and Pivot Point SuperTrend.
Pivot Point SuperTrend differs in calculation from the regular SuperTrend and as the name suggests, Pivot Points are used instead of ATR.
I made this script to make it easier to switch and compare between one another.
Also included Jurik RSX as a Momentum Indicator. SuperTrend changes color to purple when it's a bear trend and RSX is in an overbought state. And orange when it's a bull trend and RSX is in an oversold state. A reversal might be expected when color changes to purple & orange occur.
Special thanks to;
Kivanc Ozbilgic for SuperTrend
LonesomeTheBlue for Pivot Point SuperTrend
& everget for Jurik RSX
Enjoy!
Everget
Super Momentum StrategyThis is a strategy utilizing multiple of Evergets RMI (thanks to him for permission to publish) and a Chance Momentum.
It buys when 4 of the RMIs are below their thresholds and sells when they are above. There is a 5th one I added last night that works in Reverse - buy when its above and sell when below, which should work better for pyramiding strats by using it at the right rate to set the overall trend.
Very basic sample below, I could have set it up better as my example but just want to publish.
Variable Cloud - evoA Super Trend based on the high and low of a Moving Average, to get an easy view what the current trend is and where to buy and sell.
TIPS
- The 'Closing Source' option is the candle value that triggers the clouds. 'High/Low System' means that a downtrend is over when the candle LOW closes greater than the downtrend (dark cloud), an uptrend is over when the candle HIGH closes less than the uptrend (light cloud). The other options speak for themselves.
- Ideally place your stop loss outside the cloud, as you want to stay in the trend until it breaks to the opposite direction (but that's up to you of course).
- Reversal trades are low probability, you can see them as reversals or ranging before the market continues, I like to lower my risk on those set ups till it breaks the dominant trend.
Here are the scripts I used:
Everget's SuperTrend
LazyBear's VMA
Thanks LazyBear and Everget, I learn a lot from your scripts :)
Ehler's Super Smoother 2 and 3 pole (properly initialized)John Ehlers' Super Smoother 2 and 3 pole - properly initialized
www.stockspotter.com
Failure to properly initialize early values of the super smoother will result in misleading values early in the output.
Because the SS is an IIR ( infinite impulse response) filter, this error can ring in the filter for a long time, but
is extremely evident in the first 2*len bars.
This is an implementation if the 2 and 3 pole SS filter, with special attention to initializing the early values.
It uses (src+scr)/2 per Ehlers but contains code to just use src if you prefer to calculate that outside
the function as everget does in his SS here:
there is code included to make that change.
Many thanks to everget for his terrific implementations of much of John Ehlers' work. It has been tremendously helpful to me.
Kendall Rank Correlation CoefficientKendall Rank Correlation Coefficient script.
This way to measure the ordinal association between two measured quantities described by Maurice Kendall (1938, Biometrika, 30 (1–2): 81–89, "A New Measure of Rank Correlation").
In this script I compare Kendall Coefficient and Pearson Coefficient (using built-in "correlation" function).
Interquartile Range BandsInterquartile Range Bands script.
This indicator was originally developed by Alex Orekhov at his home.
The idea based on the interquartile range en.wikipedia.org
If price breaks out from the bands then it is `outlier` price.
After breakouts price always returns to its median.
Watch squeeze/expansion periods.
Anyway use it as a supplement to the other indicators.
I will glad to get your feedback.
