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Good day, everybody!
After a short acquaintance with "thinkScript" turned out here this indicator.
P.S. Sorry for my broken (http://translate.google.com/) English.
love the concept .. this is Trend & Momentum together in one view.. the setup this is based on (EMA within a Hi/Lo channel) is momentum setup, while the SuperTrend Line shows trend..
i will give this a shot - with some modification hoping to evolve the idea further into a tradable setup.
if you have ideas around it, let me know.. i will post a new port for ToS in the Elite section if there's demand for it.
thanks everyone .. don't think i can find this anywhere, although there are brilliant ideas out there.. what i really do is script setups that i actually use or plan to use for trading, so it's hard to just take someone else's studies/code and use them as they usually do something different than what i want...
just before i departed ToS, i was working on this setup.. the idea is to plot all the "basics" i need in one study (you may have seen the relevant thread on Momentum vs velocity/speed/..etc).
here's what i wanted to include.. pls feel free to leverage the concept in your own scripts... i haven't finished this and obviously won't have a chance to - at least not on ToS...
Trend, with color signal for up & down trend (the big line)
Momentum, where you can see the bull vs bear pressure as they start/fade and who is in control, on the price chart - then a signal when the prevailing momentum changes direction.. (the cloud and the up/down arrows)
Divergence detection to catch chops or possible incoming reversal (the candle color)
all the calcs are based on the same period / number of bars ... so i would set only one setting for that study. i was also playing with a version of it as a lower study with signals.
Looking around now for a platform to port this to and continue to finish it.. if you know a good candidate, pls let me know (currently testing MC, SC and couple others)
Broker: Thinkor Swim for Charts an Infinity Futures for Trading Dom
Trading: Oil
Posts: 54 since Jul 2012
Thanks Given: 449
Thanks Received: 48
RedK.
Again great work. I see this having great potental. I still have numerious ideas with this one to make it your best one yet. I am sure you will find another platform to try your magic at writing great studies for all of us again. Let me know which one you settle on so I can follow you.
