Scatter Plot Analysis of RSI, Stochastic, Williams%R and ADX

v11
Scatter Plot Analysis of RSI, Stochastic, Williams%R and ADX

This indicator can analyse the four indicators RSI, Stochastic, Williams%R and ADX and present the results in a scatter chart.

This indicator only works on PRTv11 onwards.

Each of these bounded indicators returns a result between zero and 100. Every candles returned value is calculated rounded up and then a win rate and profit and loss calculated on where price was ‘BarsAfter’ candles later and stored for that returned indicator value. The results are further separated into results for if our tested candle was a red candle or a green candle. The results are then displayed in a scatter chart and also as text to the left of the scatter chart. Sample size is also calculated and displayed so that we can see how big a sample the results are calculated on.

So for example on the DJI daily if we check the RSI indicator and base our calculations on 2 bars after we can see that if the RSI returned a value of 35 (actually >34 and <=35) then we had 192 candles in our history with an RSI value of 35 with 57 of them being green and 135 red. We can then also see the win rate for if we went long on green candles with RSI=35 and exited after two bars or short on green candles with RSI=35 and exited after two bars – and the same for long on red or short on red.

If we switch ‘ProfitLoss’ on then the scatter chart changes so we can see how much each trade direction would have won or lost. The scatter chart y axis is calculated to represent the most profitable indicator value return at 100% and the worst at 0%.

The x axis always represents the indicator returned values between zero and 100.

The indicator has two modes. ‘Live’ or not live. In Live mode the results and scatter plot display change to only show results for the current candle colour and current chosen indicator return value for the current candle. In ‘Not Live’ mode you can enter a ‘Value’ and check the results for any indicator returned value for any colour candle. In ‘Live’ mode the blue line represents the current candles indicator returned value location on the scatter chart and it will move up and down as this changes. The points at the top and bottom of the blue line change colour from red to green depending on current candle colour. In ‘Not Live’ mode the points of the line are blue and the blue line is located on whatever you have set ‘Value’ to be.

You can set a ‘Spread’ to be used in the profit and loss calculations. Spread is not taken into account when calculating the win rates however.

You can also set ‘DecimalPlaces’ to display more or less decimal places in the profit and loss displayed results.

Set ‘p’ to whatever period of your chosen indicator you want to analyse.

There are four tick boxes to choose an indicator. If no boxes are ticked then the default is RSI but if you tick more than one box then the order of display priority is ADX then Williams%R then Stochastic.

As always I advise downloading and importing to get full functionality.

Share this

Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

New! PRC is also now on YouTube, subscribe to our channel for exclusive content and tutorials

  1. Vinks_o_7 • 297 days ago #

    Vonasi you’re a beast !!! ;-)))

  2. pableitor • 294 days ago #

    Amazing indicator , you are pushing PRT to the limit! But looking at the scatter its not clear to me how can we interpret the plot , I mean should we look for some kind of linear correlation between x/y ?

avatar
Register or

Likes

avatar avatar avatar avatar
Related users ' posts
Nicolas Yes sure.
Bossebus Can't get this indicator to work. If anyone else experince the same "problem" and found the ...
Nicolas Add it on your price chart and it should work!
supertiti https://zupimages.net/viewer.php?id=20/50/2e3v.jpg
volanirina Bonjour Je souhaite l'avoir sur l'indicateur MT4 si possible s'il vous plait. car je l'ai fa...
Nicolas ProRealCode est un site dédié à l'utilisation de la plateforme de trading ProRealTime: https...
Nicolas Le plus simple est de télécharger le fichier itf présent sur cette page et de l'importer dan...
Daniele Maddaluno Le closedbar est simplement une variable de type boolean, et = t signifie qu'il est égal à t...
yanntorp merci pour vos réponses et le partage de ce code. Cela fonctionne très bien.
Nicolas Il faut simplement modifier ces textes à convenance, dans la dernière ligne de code (les tex...
ialaoufadia Je viens de comprendre l'origine de mon problème : le graphique n'avait tout simplement pas ...
ialaoufadia Merci Nicolas, le problème était donc autre.
Nicolas email notification are not available for custom indicators.
DIOS Bonjour Nicolas, comment coder un indicateur de rsi de Divergence? Merci pour ta réponse
Nicolas En apprenant la programmation :) Plus sérieusement, il y a quantité d'exemples dans la libra...
jebus89 heres a pic of 200K bars: https://imgur.com/JNKCJ6u
bibiyanki doesn't work , not start
philnunn14 hi! Can you confirm which gold market, Minutes and units? On pro real time?
Madrosat I Have not see a fully functioning automated strategy on your site?? Really have you???
juanj Hi Madrosat, why would it be on my site? I have developed it for my personal use and also to...
Madrosat ok I understood you are using prorealcode to hack the fish
imonix Have been trying this on demo since Monday before deciding whether to go live with it. Using...
Roberto Bl√°zquez I'm sorry, I've tried it since November 2012 and it's bad results.
toendidi Hi Vonasi, thankx for the indicator I find it very usefel. I am trying to study the breakot...
Nicolas Code compatible only with version 11, as it is written in bold in the text of this post: Thi...
Albaran Ah I had hoped it was a problem unrelated to the version of prorealtime! We'll keep waiting ...
woktrade Superbe !
kbrooks323 Hello would someone be willing to release a scan code for this? that would be helpful as I s...
Nicolas You can do easily this screener by using the assisted creation tool. It would take you about...
kbrooks323 I just figured it out thanks!
Vonasi I guess it might be a nice addition so that you can check back in history and compare whethe...
Marcot18 Scusate, quindi la linea blu é dove andrà il prezzo con le maggiori possibilità di successo?...
Vonasi La linea blu √® ci√≤ che fa il mercato in media se si apre uno scambio su ogni barra. √ą il nos...
Bard Excellent job Vonasi, thanks very much for updating and improving your previous indicator.
Gianluca sorry but doesnt work like you posted
Vonasi You would need to let me know the exact instrument and time frame that you are trying to app...
Zigo
12 months ago
Wolf Compilation by sinusoid concept is very interesting. Thanks
groen200 Hi Zigo can you make backtest from this indicator
rosario Good evening I would like to understand why it doesn't work for me. Rosary
Nicolas
1 year ago
KDJ
KDJ
1
Indicators
fireleg79 Bonsoir Nicolas. Merci pour tout ton travail. Quand tu auras le temps pourras-tu jeter un oe...
Jan Wind Thanks for sharing ! The Gain/Loss ratio is a bit low, 1,16, hardly offset the risks take...
drive whats the period ?
Sapo Thank you very much. as always your indicators are extremely effective. kind regards Vonasi.
mitsu21 Hi, it looks nice. I'll try it tomorrow thank you for your share kind regards bruno
kj1988 Thank you Vonasi for sharing this indicator. Very useful as a comfirmation to the price act...

Top