ToS Market Forecast

[rewardiaz]

Hello,

I am working with the Market Forecast Indicator and need guidance on how to differentiate the percentage of negative momentum from positive momentum within a specific time frame.

Example:

I have a 15D/10min chart and below is our regular Market Forecast. I'd like to:

1. SUM() total mMomemtum
2. SUM() total mNearTerm

Then figure out if there are more efforts to raise the price than to lower it. (just an idea)

# ########################################
# Market Forecast
def mMomemtum = MarketForecast();
def mNearTerm = MarketForecast().NearTerm;
def mIntTerm = MarketForecast().Intermediate;

Can someone help figure this one out or getting me in the direction?... I thought of using CompoundValue() to loop back as many candles as the chart but not sure this accurate way.

Many thanks

 

[rewardiaz]

Okay, I was able to obtain the total numbers by using TotalSum() and I want to test this idea.

Below is the result, this is Tesla Stock, 360D/1h:

Study 1:
I fell down the rabbit hole thinking that if I totaled up the Momentum, I could figure out whether the stock is quietly experiencing a "spike" in momentum or not. The numbers do show a negative percentage ... but with each stock, I notice a consistent difference of around 30%. Perhaps this is tell me something.

Study 2:
Rather than adding them up and comparing, I decided to Count() each candle that showed more momentum than the previous one and had a 50% positive shift, which happened to indicate a potential bullish cluster.

I'm not sure if this is a huge waste of time or if these numbers are relevant, but it's worth giving it a shot.

Hope this help orthers!

 

[apdusp]

Hello,

I am working with the Market Forecast Indicator and need guidance on how to differentiate the percentage of negative momentum from positive momentum within a specific time frame.

Example:

I have a 15D/10min chart and below is our regular Market Forecast. I'd like to:

1. SUM() total mMomemtum
2. SUM() total mNearTerm

Then figure out if there are more efforts to raise the price than to lower it. (just an idea)

# ########################################
# Market Forecast
def mMomemtum = MarketForecast();
def mNearTerm = MarketForecast().NearTerm;
def mIntTerm = MarketForecast().Intermediate;

Can someone help figure this one out or getting me in the direction?... I thought of using CompoundValue() to loop back as many candles as the chart but not sure this accurate way.

Many thanks

just asked your initial query to copilot and this is the answer. you can do the same with gemini and chatgpt and maybe others to have a wider view of the question

 

[rewardiaz]

Thanks a lot. I chose a slightly different path.

I need to check if these numbers have any meaning....

# ########################################
# Momemtum Percent
def TotalMomemtum = TotalSum(mMomentum);
def TotalNearTerm = TotalSum(mNearTerm);

# Calculate the percentage difference between mMomentumTotal and mNearTermTotal
def percentageDifference = (100 * (TotalMomemtum - TotalNearTerm) / TotalNearTerm) * -1;

# ########################################
# Labels for the total sums and percentage difference
AddLabel(showLabels, "Total Momentum: " + AsText(TotalMomemtum, NumberFormat.TWO_DECIMAL_PLACES),
    if TotalMomemtum > TotalNearTerm then GlobalColor("bull") else GlobalColor("bear"));
AddLabel(showLabels, "Total Near Term: " + AsText(TotalNearTerm, NumberFormat.TWO_DECIMAL_PLACES),
    if TotalMomemtum > TotalNearTerm then GlobalColor("bull") else GlobalColor("bear"));
AddLabel(showLabels, "Total: " + AsText(percentageDifference, NumberFormat.TWO_DECIMAL_PLACES) + "%",
    if TotalMomemtum > TotalNearTerm then GlobalColor("bull") else GlobalColor("bear"));