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24,930,131 Views | 233714 Replies | Last: 7 hrs ago by jamey
$30,000 Millionaire
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Not surprised we went up. Now going to wait a bit for this to settle.
Boy Named Sue
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$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'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
Charismatic Megafauna
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Has something fundamental changed with cvna? I feel like this should be shortable by now but it is on a tear
Boy Named Sue
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This will surprise no one, but I bought XOM calls at the bottom this morning. Unfortunately, I'm trying to DCA down after buying some yesterday.

Sold my GOOG 5/26 calls yesterday, which was a mistake. Made profit but left a lot of money on the table.

Bought MARA shares this morning.

Ahead for the week, but not where I wanted to be. So it goes
$30,000 Millionaire
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I would just view it as a technical move re CVNA.

Some people I follow on Twitter got into it. I didn't.
$30,000 Millionaire
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So this action is why I normally wait.
Philip J Fry
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I'm thinking out loud here. Sounds like we want to diminish results from low volume days and highlight results from high volume days.

Take your opening price from your start date. Somehow, calculate the 1 sigma volume. Then find the ratio of the previous days volume over 1 sigma and multiply that number to the %change and sort of regenerate a volume normalized price. From here, use whatever other indicators you typically use, but just keep in mind that the price you see isn't the actual price of the stock.

Totally spitballing.
Carioca Corredor
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It needs to rectify quickly or my May 12 puts will be worthless like they are today
$30,000 Millionaire
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Yes. Basically just want something to give edge in the form of probability. When x occurs, y usually happens.
Carioca Corredor
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Caught more XOM June 120c and 125c today as the knife drops
Triple_Bagger
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$30,000 Millionaire said:

Any takers to help write a momentum trading view indicator?
I don't know how to code but I hear ChatGPT will replace most coders. Maybe ChatGPT can write the code for you?
YaketyYak
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I actually was having ChatGPT go at it yesterday, but I wasn't sure what you guys were looking to change.

This is what it gave me though, just adding RSI into it really

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

I am using GPT4 which is better at coding, if I had a better idea of what you wanted to get out of it, I'll try some more
Take out the papers and the trash, or you don't get no spendin' cash
$30,000 Millionaire
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these are just wild and random market moves.
Farmer @ Johnsongrass, TX
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Carioca Corredor said:

Caught more XOM June 120c and 125c today as the knife drops
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..
$30,000 Millionaire
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Lots of trapped long above. I think they're about to trap shorts.
Philip J Fry
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ChatGPT is great in some ways, but producing code that runs on the first try…it is not.
Spoony Love
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Feels like bulls have tried to make a stand at the green to red line.

Volume increase are swinging today
YaketyYak
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Yeah, and unfortunately I don't have API access to use plugins specific to coding...
Take out the papers and the trash, or you don't get no spendin' cash
Charismatic Megafauna
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lobwedgephil said:

FJ43 said:

All about the Fed tomorrow.

Watch 407.86 to downside. I've got VIX June calls and lotto SPY calls for Friday.
No Fed, CPI.

Waller speaks tomorrow morning, i feel like that's never good
$30,000 Millionaire
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$30,000 Millionaire said:

Lots of trapped long above. I think they're about to trap shorts.


They did.
bmoochie
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$30,000 Millionaire said:

$30,000 Millionaire said:

Lots of trapped long above. I think they're about to trap shorts.


They did.
Now what, premium burn?
$30,000 Millionaire
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You can't predict these days
Brewmaster
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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
$30,000 Millionaire
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Must hold level here for higher.
CheladaAg
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What a wild swing in RBLX today.
Boy Named Sue
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Healthy battle here at 410.50. If the lose it puts could pay big quick
Boy Named Sue
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Made some quick scalp bucks there. Love seeing those kinds of setups. Sometimes they run huge, sometimes it's quick
ProgN
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Boy Named Sue said:

Made some quick scalp bucks there. Love seeing those kinds of setups. Sometimes they run huge, sometimes it's quick
Boy Named Sue
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Either way she never complains!
BT1395
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Anyone have thoughts on MOS calls given how beaten down the stock is lately? Thinking about going out to September for the $44.75s but would appreciate any thoughts.
topher06
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Loaded some XOM calls for July 2023 and January 2024. Think the recession story is already overbaked into the oil company prices.
$30,000 Millionaire
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4125 on SPX is my gate for uppies.
EliteZags
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perma 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
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 position
Boy Named Sue
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$30,000 Millionaire said:

4125 on SPX is my gate for uppies.
Equates to 411.50 on SPY, I believe
$30,000 Millionaire
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We are here. Let's see what shakes.
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