English : This Pine Script indicator, named "Cantom Chart - CL CTG vs BKD," uniquely analyzes the immediate state of oil futures contracts to determine if they are in contango or backwardation. The script uses the price ratio between the nearest (CL1) and the next nearest (CL2) NYMEX crude oil futures contracts. It multiplies this ratio by 100 for clarity and...
The Breadth Thrust Indicator, based on Zweig's methodology, is used to gauge the strength of market breadth and potential bullish signals. This indicator evaluates the breadth of the market by analyzing the ratio of advancing to declining stocks and their associated volumes. Usage: Smoothing Length: Adjusts the smoothing period for the combined ratio of breadth...
** Crypto Volatility Index(VIX) ** Overview The Crypto Volatility Index (VIX) is a specialized technical indicator designed to measure the volatility of cryptocurrency prices. Leveraging advanced statistical methods, including logarithmic returns and variance, the Crypto VIX offers a refined measure of market fluctuations. This approach makes it particularly...
Overview This script draws horizontal lines based on the opening prices of daily, weekly, monthly, quarterly, and yearly candles. A unique feature of this script is the ability to overlay lines from previous periods onto the current period. For example, it can draw the opening price line of the current month as well as the line from the previous month. This...
Entropy in Technical Analysis Using TradingView Slide 1: Title Entropy in Technical Analysis Using TradingView Introduction to the concept of entropy Application in technical analysis Understanding the use of entropy as a market indicator Slide 2: What is Entropy? Definition and Origins: Entropy originates from thermodynamics and information theory. In...
Catastrophe Distance is a tool to visually explore the time between catastrophic price moves. Catastrophes are defined with 2 variables: drawdown_threshold: the amount of percent the price has to fall lookback_period = the amount of last candles in which drawdown_threshold was reached. Drawdown_threshold per default is 25% and lookback_period is 5, meaning per...
This is a tool for developers who are working with index based plots and find themselves adding the bar_index to their indicators on a regular basis during development and debugging. What it does: shows the bar_index in the status line and data window. plots optional labels (bar index + time) into the chart every 10 bars
Understanding the Script: Purpose: This script identifies potential trend direction and momentum using a moving average and wave amplitude calculation. It shows a green line when the price is trending upwards and a red line when trending downwards. Strategy: This script doesn't provide a complete trading strategy. It's an indicator designed to be used alongside...
Tare's Multi-Timeframe Market Heatmap is a powerful tool designed to help traders quickly gauge market sentiment across multiple timeframes using a combination of RSI (Relative Strength Index) and MACD (Moving Average Convergence Divergence) indicators. This indicator analyzes four customizable timeframes to determine whether the market is bullish or bearish,...
This chart is designed to calculate and display the percentage change of the Magnificent 7 (M7) stocks and the S&P 500 excluding the M7 (Ex-M7) from the beginning of 2024 to the most recent data point. The Magnificent 7 consists of seven major technology stocks: Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), Alphabet (GOOGL), Meta (META), Nvidia (NVDA), and Tesla...
This Indicator helps identify the current market structure. The Swing Market Structure is identified based on thresholds (either on percentages or absolute values) to tell if a pullback is value (=deep enough). If a level is broken, the furthest opposite point becomes the new low/high, respectively. For the active movement (identified high + low),...
Percentage Change Indicator This indicator calculates and displays the percentage change between the current close price and the previous close price. It provides a clear visual representation of price movements, helping traders quickly identify significant changes in the market. ## Formula The percentage change is calculated using the following...
I have learned the hard way why Enterprise Value is far more superior than Market Cap. That's why I made this indicator, but more importantly, why I added several features that other similar indicators just don't have. The key thing is to not just show you Enterprise Value of a company (it's true worth) but also the capability to see that line colored in a...
This Pine Script indicator calculates the difference between the price and a main moving average (SMA or EMA), allowing you to track deviations in either absolute or relative (percentage) terms. It offers several features to help visualize and smooth this difference: - Main MA Difference: Shows the price deviation from the moving average, either as an absolute...
Percentage zones refer to specific areas or bands on the price chart of a financial asset that are bounded by percentages of change relative to a reference point, such as the opening price or a reference value from a previous move. These zones are useful for identifying support and resistance levels, predicting possible price reversals, or setting price targets....
Overview: This indicator is designed to take multiple other indicators as inputs, calculate their respective Z-scores, and then aggregate these Z-scores to provide a comprehensive measure. By transforming the inputs into Z-scores, this indicator standardizes the data, enabling a more accurate comparison across different indicators, each of which may have...
Relative Volume Index (RVI) Short Description: Relative Volume Index (RVI) with customizable volume bands, moving averages, and alerts for high and low volume thresholds. Includes options for displaying daily and weekly relative volume for enhanced analysis. Full Description: The Relative Volume Index is a powerful and versatile tool designed to help...
This indictor will mark intraday levels. Levels will be marked by calculating 3% up and 3% down from previous day close. This indicator calculates 3% levels above and below the previous day's close. These levels can be used to track potential support or resistance levels throughout the trading day. This script helps plot 3% above and below the previous day's...