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| Here on useThinkScript, we dive deep into the latest discussions and highlight the most valuable indicators, set ups, and strategies which could give you the edge in this week's markets. Scroll down to check out this week's must reads, carefully selected by uTS Moderators! |
| OGK said: The Regression Indicator is designed to help traders identify trends and potential reversals in price movements. By calculating a regression line and a normalized regression indicator, it provides clear visual signals for market direction, aiding in making informed trading decisions. The indicator dynamically updates with the latest market data, ensuring timely and relevant signals. |
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| samer800 said: The Kalman PSaR combines the well-known Parabolic SAR (PSaR) with the advanced smoothing capabilities of the Kalman Filter. This innovative tool aims to enhance the traditional PSaR by integrating Kalman filtering, which reduces noise and improves trend detection. The Kalman PSaR adapts dynamically to price movements, making it a highly effective indicator for spotting trend shifts while minimizing the impact of false signals caused by market volatility. |
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AVAILABLE TO VIP MEMBERS ONLY |
useThinkScript said: Z-Score standard deviation bands are used to identify the normal distribution of an instrument, measured in standard deviations, allowing traders to gauge an asset's potential range. This VIP version identifies the instrument's position in a range. Whether there is still room for significant profit opportunities. |
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| didyougetone said: Larry Williams Large Trade Index (LWTI) [Loxx] is an indicatory by Larry Williams as explained in his book "Trade Stocks and Commodities with the Insiders: Secrets of the COT Report". What is the Larry Williams Large Trade Index (LWTI)? The original concept was specifically based on Trader (or Market) Sentiment and predicting market reversals. It's calculated as follows: MovingAvg(Close - Close[Period], bars used in average)/MovingAvg(Range,bars used in average)*50 + 50 |
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FROM THE ARCHIVES: FEB 2020 |
| korygill said: This study shows the up and down volume based on a bar's open versus closing price. It resets the counter based on a specified time of day. One could modify this code to reset the counter on a given weekday, once a month, etc. Adding an option for this as input may be a future enhancement, or perhaps someone else on this forum wants to add that. If close is greater than open, add volume to upVolume. If close is less than open, add volume to dnVolume. If close is equal to open, add 1/2 volume to upVolume and dnVolume. You can set a "mode" to display upVolume and dnVolume as "lines", or as a difference as a histogram. |
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