The ratings algo is my discount version of the many paid-for algorithms put out by numerous different companies. A technical "rating" (by default between -10 and 10) is produced for each candle, telling the user when to buy, sell, or hold. I took 11 of my personal favorite indicators to develop a rating system. They are:
50/200 SMA crossover 10/20 SMA crossover 10/20 LSMA crossover 10/20 EMA crossover "Arnold" a rate-of-change analysis of a smoothed LSMA PVT and OBV momentum MACD RSI DMI Fisher Transform
The ratings system is very basic (a more complex, detailed version will be coming in the future!) where each indicator returns -1, 0, or 1, and the MAs and Oscillators are stratified with a user-defined weighting. The total calculation is based on the function: maweight * (average of MA ratings) + oscillator weight * (average of osc ratings)
If the total value > user-defined threshold, the bar is teal, and if > 2.5 * threshold, is green, and vice versa for orange/red respectively. Purple is given if the total value is close to zero.
"Strong" signals are printed if the bar changes to either green or red and exits are printed if the bars change from green/red to any other color.
A table is also produced showing what each indicator is indicating, either "Buy" "Sell" or "Hold.
Reversal Bands are printed, intended to be used as areas where a trade might be exited if the market is sideways. If a Strong Buy signal is produced, it may be a good idea to enter the trade, and hold until the price enters the reversal bands, then hold until a candle closes outside the band for the first time.
This indicator truly shines in trending markets (like most indicators), but with very fast-acting exit signals and reversal zones, will facilitate minimal losses and possibly even profits in sideways markets.
What settings do you recommend for large cap stocks like NVDA TSLA etc? Thanks
Jaerevan47
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@SpartanGR77, The default settings are made to be the most "logical" with a subsequently triggering strong signal after initial weaker signals. But, as it turns out, backtesting shows that for more volatile stocks that a smaller threshold is better. I would keep the OSC and MA weightings equal.
time2036
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Thanks for your sharing. Pls have a option to adjust table sizing… iPhone version only can show 1/3-1/4 information
Jaerevan47
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@time2036, Thank you for your feedback! I also have this issue, and would love to figure out how to fix it. To be totally honest though, the table's initial usage was intended to be solely for my own debugging usage when coding :D.
RomaXNicolas
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🤩
shacks420
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Pls have an option to position it on top/botton. It will be good ad on
Vancouver1128
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This is an excellent system, and it's very generous of you to share the code. I like how you can customize the settings, as I prefer to give a little more weight to the oscillators when generating signals. I was also able to simplify the Buy/Sell alerts by adding these 2 simple lines to the end:
This is as good as some of the better paid algos, and MUCH better than most of them. Well done, and thanks!
Hociemocie
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Just wanted to tell you that I LOVE this indicator and it is a staple in my day-trading arsenal! When do you think the newer version will be available? Thanks for your efforts!!!
fearless85
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Can you create an alert for when it's 10/10 it will give an alert.