Not surprised we went up. Now going to wait a bit for this to settle.
I'm not sure this is relevant to what you're talking about, and I'm definitely not a coder, but irish pete and I discussed using the size of the gap between the 8 and 21 EMA lines as a tool in an indicator. My thought was the bigger the gap was before a cross, the more momentum the price action had to create big moves. I have no idea if that would work, it's just something that was rattling around in my head$30,000 Millionaire said:
Momentum is probably measured best by volume, rate of change, and something else to indicate relative strength.
I like the angle approach because it's better than just P/Pn calculations for determining momentum
I don't know how to code but I hear ChatGPT will replace most coders. Maybe ChatGPT can write the code for you?$30,000 Millionaire said:
Any takers to help write a momentum trading view indicator?
Quote:
//@version=5
indicator("Footprint Chart with Signals and Stochastic RSI", overlay=true)
// Inputs
priceType = input.string("HL2", title="Price Source", options=["HL2", "Close", "Open", "High", "Low"])
volumeType = input.string("Volume", title="Volume Source", options=["Volume"])
numRows = input.int(10, title="Number of Rows", minval=1)
barWidth = input.int(2, title="Bar Width", minval=1)
priceSource = priceType == "HL2" ? hl2 : priceType == "Close" ? close : priceType == "Open" ? open : priceType == "High" ? high : low
volumeSource = volumeType == "Volume" ? volume : volume
// Calculate footprint data
delta = volumeSource * (priceSource - open)
footprint = array.new_float(0)
volumeSum = 0.0
for i = 0 to 100
volumeSum := volumeSum + volumeSource[i * barWidth]
array.push(footprint, volumeSum)
array.reverse(footprint)
// Plot the chart
plot(delta, "Delta", color=color.blue, style=plot.style_histogram, linewidth=2)
// Add price action signals
ema5 = ta.ema(priceSource, 5)
maFast = ta.sma(priceSource, 5)
maSlow = ta.sma(priceSource, 20)
isUptrend = maFast > maSlow and close > ema5
isDowntrend = maFast < maSlow and close < ema5
// Add Stochastic RSI Oscillator
lengthK = input.int(3, title="Stochastic Length", minval=1)
lengthD = input.int(3, title="Smooth Length", minval=1)
[stochK, stochD] = ta.stochrsi(close, 14, lengthK, lengthD)
// Add oscillator conditions
isOverbought = stochK >= 80
isOversold = stochK <= 20
isBullCross = crossover(stochK, stochD)
isBearCross = crossunder(stochK, stochD)
var bool buySignal = false
var bool sellSignal = false
buySignal := not buySignal[1] and isUptrend and not isDowntrend[1] and isOversold and isBullCross
sellSignal := not sellSignal[1] and isDowntrend and not isUptrend[1] and isOverbought and isBearCross
negateSignal = (buySignal[1] and isDowntrend) or (sellSignal[1] and isUptrend)
plotshape(buySignal, style=shape.triangleup, location=location.belowbar, color=color.green, size=size.small, transp=0)
plotshape(sellSignal, style=shape.triangledown, location=location.abovebar, color=color.red, size=size.small, transp=0)
plotshape(negateSignal, style=shape.arrowdown, location=location.abovebar, color=color.orange, size=size.small, transp=0)
// Plot Stochastic RSI
hline(80, "Overbought", color=color.red)
hline(20, "Oversold", color=color.green)
plot(stochK, "StochK", color=color.blue
500k off line in Canada due to forest fires...500k down in Iraq....Saudi cutting this month. And the Futures paper short is at an all-time high. A long position may be in order..Carioca Corredor said:
Caught more XOM June 120c and 125c today as the knife drops
lobwedgephil said:No Fed, CPI.FJ43 said:
All about the Fed tomorrow.
Watch 407.86 to downside. I've got VIX June calls and lotto SPY calls for Friday.
$30,000 Millionaire said:
Lots of trapped long above. I think they're about to trap shorts.
Now what, premium burn?$30,000 Millionaire said:$30,000 Millionaire said:
Lots of trapped long above. I think they're about to trap shorts.
They did.
Boy Named Sue said:
Made some quick scalp bucks there. Love seeing those kinds of setups. Sometimes they run huge, sometimes it's quick
I'm still slightly down overall, but if I hadn't started buying close to 20 I wouldn't have bought as much consistently as it dipped below 8/7 trying to average down, has now become my biggest individual positionperma Brew doomster said:
PLTR
if the market gets going here, PLTR could pay bigly. Could also scalp shares, less risk.
I'm playing next week 10.50's
Equates to 411.50 on SPY, I believe$30,000 Millionaire said:
4125 on SPX is my gate for uppies.