This script is the enhanced version of Market Thermometer with one difference. This one has Quantum Thermo balls shooting out of the thermometer tube when overheated. Quantum psychology, Quantum observation, call it what you like
My scripts are designed to beat ALGO, so the behavior of indicators is not like traditional indicators. Don't try to overthink it and compare it to other established functions.
If you knew ALGo as much as I do, then you would also ditch old indicators and design your own weird scripts to match the ALGO's personality. Oh yes, each AlGo for each stock has its own programming personality. Most my scripts are tuned to beat SPX ALGO meniac
Enjoy and think outside the box, the only way to beat the ALGO
Release Notes
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Minor update to display of percentages to compare all changes (highets, Lowest, and target Thermoball with Close. So you can see the effect of price change in respect to previous High and Low. Also changes the Thermo balls name to Target as it is a leading indicator showing where price goes next so you can adjust your trade accordingly.
Let me know if I can add any useful signal to this script so we can keep it evolving.
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Changes the % change for the close to show the actual close change
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I like this indicator and using it so much that I'll continue to update it to make it more accurate. Hence, lots of update. Adjusted the distances and input value for labels distance. Mostly cosmetic and code clean up to work faster. I'm planning to add more references from previous price movements because I realised, as a trader I need to make very quick decision and need to see full picture very quickly. Essentially I'm using this script for live trading and making changes to make more profit faster and avoid making guesses or miss something
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Updated adding a customised watch list of long short stocks and index I trade. You can change the watch list from the script menu. reason being, I want to keep an eye on my watchlist in different time frame at the same time. So when you change the time period, the watchlist time period changes. In TV watchlist you only see daily. So it is nifty future.
Enjoy
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Mahjoe upgrade of to add watchlist, a simple portfolio tracker and customised Fib levels. The watch takes one or two seconds to load because I'm using the chart for multiple functions.
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Agile iteration 8. I'm releasing new features via agile iterative process to publish the new features fast. This release allows to turn off the watchlist and portfolio in case you don't want to see it all the time. Hiding items in Pine scripts is not easy as it does not allow calling a public function under a conditional statement. So I had to write private functions to get around it.
Enjoy
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Added Ability to hide all visual labels and indicators so the only visible item would the Thermo balls for pure analysis
Enjoy
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Minor updates. I set all parameters to false other than the thermo balls to speed up the loading. So you can control Fibonacci, Labels, watchlist, and the portfolio. Portfolio part is the best feature as TV doesn't support it.
I prefer just to watch the thermo ball as it is the Leading Indicator.
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Minor adjustment to watch list
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Minor updates to add my actual trading volume so I don't have to keep update it.
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I'll be freezing further development since the script is stable and in top shape. Good news is I'm working on another concept that takes this script to the whole new level.
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Increased the accuracy for lower time frames and responsiveness for an increased volatility. Please watch the video instructions as this indicator is kind of dynamic and very different than normal indicators.
Run this with your stock and see how thermoballs behaved in the past and during live trading. Once you figured out the behaviour, the only thing you need to see is where are the thermoballs and go from there. Unlike traditional indicators my scripts respond differently to different index. So it is dynamic and adoptive and changes day by day.
Another reason, is ALGO knows about all indicators but it doesn't know about my new breadth of indicators so I have an advantage over ALGO
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The evolution of my favorite and most effective predictive script Quantum Themoballs has leaped to a whole new level. I'm working on a concept to predict price range for shorter time frames like 15 minutes, 30 and so on that I release later
In this version had to add a brand new features that brings a twin Thermoball form the past to increase the accuracy. Since this a base feature for further work, Im releasing it into TV. If you want to experiment with it increase the input "Back To The Future" and see the magic unfold.
Made other minor adjustments and fine thinnings based on live demo feedbacks.
Enjoy
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This is the final release version of my favourite Quantum Thermo Balls (QTB) I have simplified the settings based on your comments. I'm working on a brand new concept based on my learning of how QTB works. Here is the best answer I can give you about QTB based FAQ I received. Quantum Thermo balls (QTB) script is a next generation of predictive trading dashboard that I designed based on my trading (BEARISH) style. Quantum Thermo balls (QTB) is not an indicator but a trading system customised to suit different trading style. QTB has predictive indicators Termo Balls (TB) as well as watch list, index tracking, customised Fibonacci to create a unique rich dashboard like system to make entry and exit decision faster
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Since I'm taking my time with the latest QTB supercharged version, I updated the current version so you can use it faster
Simplified the QTB script to respond faster, removing the watch list.
I recommend using my latest Market Window script that is much better than the old version on this script. I had to separate the watchlist and make it stand alone as it was affecting the QTB main engine speed.
Enjoy.
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Simplified the script, code clean up based user feedback
Since I started getting lots of request on how to trade with Quantum Thermo Balls I may run a Online or in person class In Sydney if there is enough participants. Let me know so I can decide based on numbers.
snehalnair
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@stockmarketupdate Thank you so much for what you do. It takes a good heart to share. Much appreciated.
SMU Quantum Thermo Balls look different from beginning!!
mattrad88
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Hi I do not know anything about coding but I read and worked with your system its different and new way for see the market ,but need more help to use it please let me know how can I get more information .
Thank you.
stockmarketupdate
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I must emphasise my QTB script is not a past historical guidance indicator. Many traders loose money because they still want to predict the market using algorithm happened in the past.
Picture of the past is irrelevant during extreme volatility and that is the MEGA difference between my Quantum scripts and old indicators.
My suggestion: Use QTB during LIVE market make decision and let go of the past.
In short QTB is ALIVE during market as you can see animated moves of the QTB measures. Hope this answer many question I get people comparing my QTB with traditional indicators and want to draw a conclusion. I'm a day trader and swing trade holding shorts based on QTB wild moves during the trading hours. This tell me what is really going on with insider selling and market strength. ALGO is more clever that all of us sand the only way you can see its poker hand is LIVE using QTB trading system (QTB IS NOT AN INDICATOR)
stockmarketupdate
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Provided my testing results for the holy grail version stack up. Then the sky is a limit.
stockmarketupdate
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I think I found a way to predict the price direction in short time frame 30 Minutes. Still need a lot more testing as this is mega bold claim (holy grail of trading). If im right and it works then one condition, if this script generates a lot more interest, I release it open source public. Since I'm trader and don't have time for coding just want to make sure people are going to actually use it so I don't waste time tidying codes for public release. If you are a coder, you would know, a lots of effort goes in to clean up codes for public release. Anyways, too early to say it works. Will see.