Friday, September 29, 2017

Currency Strength and Major Markets (29/9/2017)

GBP taking a hammering this morning. FTSE 100 rally in response.

More information about these indicators can be found here.

Friday, September 22, 2017

Short-term Supply/Demand (USD/JPY 22/09/2017)

In the process of adding alerts to the Supply / Demand indicator. Here's the current indicator on USD/JPY m5 chart.

Wednesday, September 20, 2017

Tuesday, September 19, 2017

"2D" indicator (RSI vs SSD) 19/9/2017

The "2D" Indicator shows multiple instruments on the same chart. Here, the X-axis is mapped to RSI(10), and the Y-axis is mapped to SSD(10,3,3).

More information can be found here.

Wednesday, September 13, 2017

Sunday, September 10, 2017

2D Indicator

This innovative indicator creates a scatter-graph of multiple instruments, using common oscillator values (such as RSI, CCI, SSD, etc.) for their “X” (horizontal) and “Y” (vertical) coordinates.

The result is a constellation of points, which allows all the instruments to be viewed and compared together on a single chart, in a visually appealing and informative way. It allows the user to quickly assess which instruments are over-bought / over-sold, etc. without having to open multiple charts.

Typically, different indicators would be specified for X and Y axes. For example, RSI on X-axis, and ROC on Y-axis; in this case the X-axis is the strength, and the Y-axis is the rate of change of price. Using the same indicator on X and Y axes isn’t typically very useful unless different parameters are used, e.g. SSD(20, 3, 3) on X-axis and SSD(5, 3, 3) on Y-axis.

The indicator is also able to plot a small amount of historical data (e.g. last 10 data points, which appears as a “tail” for each instrument). See Figure 1.

The indicator can display all instruments, specific subsets (such as all forex majors, all JPY crosses, etc.) or any custom group.

Standard reference lines can be specified for the X and Y axes. For example, the normal 80/20 lines for SSD, etc.

This indicator is now available on the store.

Friday, September 8, 2017

"2D" indicator almost finished

This new indicator is basically finished. I added reference lines, and tidied up some of the code. Currently it supports RSI, CCI, SSD, ROC. I am thinking about some other indicators, but they need to use some standard scale - for example MACD is not possible because it will be different scale for every instrument.

Thursday, September 7, 2017

More experiments with "2D" indicator

A couple of tweaks to this experimental indicator.

Now uses higher transparency for older data (so it fades out).

Also, history level can be set, here history = 1 (i.e. only showing the latest data point).

Friday, September 1, 2017

Experimental "2D" indicator

Friday - just trying something I thought of a while ago. In the chart below, I've created a "scatter plot" of RSI(14) (on X-axis) vs ROC(14) (on Y-axis) for major forex pairs, and for the last 10 bars. This happens to be an m5 chart.

The idea, is the RSI shows strength, and ROC shows momentum, so for example, when a currency has high strength (RSI) and low momentum (ROC) this would appear in the bottom-right of the chart, and might be a good candidate to fade.

The indicator is very much a prototype - just really seeing if it proved useful. You can select different indicators for X and Y axis, e.g. RSI, CCI, ROC, SSD.

I'll have a play with it and let you know how it goes :-)

Currency Strength (1/9/2017)

More information on Currency Strength can be found here.