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Posted: Wed Feb 07, 2007 2:19 pm
by Robert2617
Paying it forward.

TRO already had a Tick n Trin Radar indicator but it was pretty basic (but good work I might add). I got the idea from his indicator but this one I wrote from scratch and it has a few more bells and whistles. This is my first of many I hope.

Zone Column:
Red, bearish or look for reversal
Green, "in the zone", bullish
Yellow, neutral

Path Column:
Red going down
Yellow means neutral
Green is going up

Can be customized with right-click/format. BTW, you can make TnT a little more responsive by shortening the Tickavgbars2 and Trinavgbars2 to two bars back instead of averaging 3 bars back.

Tip: Don't make Tickavgbars1 and Tickavgbars2 the same or there is nothing to compare! Same with Trinavgbars. :)

I hope you find it useful!

Indicator Updated 02/13/07

Posted: Wed Feb 07, 2007 3:34 pm
by TheRumpledOne
Did you see my Above/Below indicator?

You might want to add it to your radarscreen.

Posted: Wed Feb 07, 2007 4:45 pm
by Robert2617
I'll take a look at it. Thanks for the pointer.

I was watching TnT pretty much all day today to see how it would preform and it did great. I feel that it is better with the Tickavgbars1 set to 1 and Tickavgbars2 set to 2. I've updated the defaults to this and uploaded to the above post. 8)

Posted: Mon Feb 12, 2007 6:08 am
by Robert2617
Here are two more to play around with. I tend to like the one plot indicators because they take up less real estate.

Ward's_OBV - On-Balance Volume

The idea behind the OBV indicator is that changes in the OBV will precede price changes. A rising volume can indicate the presence of smart money flowing into a security. Then once the public follows suit, the security's price will likewise rise.

Like other indicators, the OBV indicator will take a direction. A rising (bullish) OBV line indicates that the volume is heavier on up days. If the price is likewise rising, then the OBV can serve as a confirmation of the price uptrend. In such a case, the rising price is the result of an increased demand for the security, which is a requirement of a healthy uptrend.

However, if prices are moving higher while the volume line is dropping, a negative divergence is present. This divergence suggests that the uptrend is not healthy and should be taken as a warning signal that the trend will not persist.

The numerical value of OBV is not important, but rather the direction of the line. A user should concentrate on the OBV trend and its relationship with the security's price. ... nce_volume

The next one is a single button Slow Stochastic Crossover and location indicator. Don't forget to add about 30 days of data from the right click format menu for this indicator.

The colors on the indicator go like this:

Green = Slow K over Slow D (price is rising)
Red = Slow D is over Slow K (price is falling)
Yellow = K is crossing over or under D

The text tells you where the K line is and where it is headed. (ex. "Mid Rising" means it's higher than 20 and lower than 80 and heading north; "OverSold" means it is lower than 20 but the color tells you whether it is still falling or coming back up.

Readings below 20 are considered oversold and readings above 80 are considered overbought. However, Lane did not believe that a reading above 80 was necessarily bearish or a reading below 20 bullish. A security can continue to rise after the Stochastic Oscillator has reached 80 and continue to fall after the Stochastic Oscillator has reached 20. Lane believed that some of the best signals occurred when the oscillator moved from overbought territory back below 80 and from oversold territory back above 20.

Buy and sell signals can also be given when %K crosses above or below %D. However, crossover signals are quite frequent and can result in a lot of whipsaws.

One of the most reliable signals is to wait for a divergence to develop from overbought or oversold levels. Once the oscillator reaches overbought levels, wait for a negative divergence to develop and then a cross below 80. This usually requires a double dip below 80 and the second dip results in the sell signal. For a buy signal, wait for a positive divergence to develop after the indicator moves below 20. This will usually require a trader to disregard the first break above 20. After the positive divergence forms, the second break above 20 confirms the divergence and a buy signal is given. ... oscillator

Both Indicators Updated 02/13/07