OPEN-SOURCE SCRIPT

Trend Probabilty Indicator - MultiTimeFrame (MTF TPI)

Updated

Thank you @lukas.nie and DerozBeats for your help with stacking the library!

The Ultimate TPI

the FINAL TPI SCORE is plotted on the chart (Between -1 and 1). (Small number on the right hand side).

Shows the aggregated score of 3 different timeframes plus the total score of all 3 in the Total TPI Score Table Cell.

There has been a lot of mods to this, and the description is roughly accurate. Check it out and learn how it works. If you have any questions hit me up.

LFG!!!

Release Notes

Updated some plotting and calculation issues. Next up: Calibrating time coherency for optimal results.

Release Notes

Updates to allow the indicator to choose between the chart ticker or the ticker in the user settings.

Timeframe is always FIXED at 1D, 2D, 4D for each respective table.

Release Notes

Code Cleanup...thank you Back

Release Notes

Updated signals. Less quick, more coherent.

Release Notes

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Updated to allow for customizable Timeframes.

Release Notes

If an Indicator returns a NaN instead of a value, it produces a score of 0.

Release Notes

Added a RoC plot for previous day's candle vs current, with a user setting to remove the plot if wanted.

Release Notes

Updated to the TITS!

Release Notes

Inspiration from Koro and Investingmaster's "Ultimate System"

TPI FINAL PLOT includes the total TPI AVG, averaged alongside salxx's EMA Bands and Back's VWMA.

Final plot is now a histogram of RoC. the RoC tables are calculated from final plot and not total TPI score.

Includes the option to add correlation to the final TPI score. Correlation has 3 timeframes and 5 tickers. Fuck around and find out.

FINAL TPI Score is weighted like this: TPIx2. EMAx1. VWMAx1. Correlationx1 (if turned on).

This TPI also includes an RSI for Relative Strength, Volume and Sentiment. It has a sentiment zone oscillator built in for a general sentiment reading. A Volume Trend Indicator built in for general volume reading. The 9 and 21 day EMA bands are calculated as the distance between each other compared to the overall asset price. This is plotted in the Relative Strength % Table Cell. Use this number to compare against other assets to determine relative strength. The higher the number, the higher the relative strength.

Release Notes

Now you can choose what factors to include into the final score.

You can also set your own weightings for each factor.

Release Notes

Updated Library.

Release Notes

Fixed RoC calculations.

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Fixed some color coded plotting issues

Release Notes

Updated with the ability to add weightings to each table. Disable or enable any indicators, and add weighting to the oscillators. Removed the EMA, SMA and VWMA indicators from the final TPI value. It is now strictly an MTF TPI with customizable weightings and enablers. Still kept the dashboard that displays Relative Strength, Volume, Sentiment and RoC as a visual aid.

Release Notes

Fixed repainting issue.

Release Notes

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

RWCS_LTD

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