Any suggestions about a momentum and volume indicator?

• 06/03/2017 at 5:47 PM #37352
  Marcel van Vliet

  The indicator on this screenshot approaches the effect where I am looking for the best.

  Instead of the colored zones It would make the indicator more clear when the zones are replaced for historgrams.

  

  Marcel van Vliet

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  06/05/2017 at 10:27 PM #37527
  Nicolas

  Ok so to be clear, you want the middle of the Bollinger band (which is a simple MA) to be the the zero line?

  

  Nicolas

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  06/06/2017 at 7:43 AM #37532
  Marcel van Vliet

  Yes, exactly.

  

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  06/06/2017 at 2:11 PM #37637
  Nicolas

  @Marcel

  This is the code of the indicator you described. Are you using it in a mean reversion theory? Or sign of exhaustion of the price in a trend following strategy? I may put this one into the library for the benefit of everyone.

  period=20 c=Chandle[period](close) avg=average[period](c) osc=c-avg middle=average[period](osc) dev=std[period](osc) up=middle+dev*2 dn=middle-dev*2 return osc coloured(200,0,0) style(histogram),up style(dottedline),dn style(dottedline), middle style(line)

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  period=20   c=Chandle[period](close) avg=average[period](c)   osc=c-avg middle=average[period](osc) dev=std[period](osc) up=middle+dev*2 dn=middle-dev*2   return osc coloured(200,0,0) style(histogram),up style(dottedline),dn style(dottedline), middle style(line)

   

  

  Nicolas

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  06/06/2017 at 3:14 PM #37645
  Marcel van Vliet

  Thanks a lot.

  But unfortunately in your picture the histogram is not build from the (dynamic) BB midline like the colored zone on my picture.

  I use this indicator as a sign of exhaustion of the price in a trend following strategy.

  By the way I named the indicator ‘Pressure Gage’

  

  Marcel van Vliet

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  06/06/2017 at 5:53 PM #37654
  Nicolas

  To get the middle of your bollinger band at the zero level, you only need to substract an SMA20 to CMO, and that’s what the indicator did. But I made wrong bollinger up and down in my first code sorry, so this is the correct code:

  period=20 c=Chandle[period](close) avg=average[period](c) dev=std[period](c) upper=avg+dev*2 lower=avg-dev*2 osc=c-avg up=upper-avg dn=lower-avg return osc coloured(200,0,0) style(histogram),up style(dottedline),dn style(dottedline)

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  period=20   c=Chandle[period](close) avg=average[period](c) dev=std[period](c) upper=avg+dev*2 lower=avg-dev*2   osc=c-avg up=upper-avg dn=lower-avg       return osc coloured(200,0,0) style(histogram),up style(dottedline),dn style(dottedline)

  Please find attached comparison of the 2 indicators.

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  GraHal

  

  Nicolas

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  06/06/2017 at 9:58 PM #37665
  Marcel van Vliet

  Great work, Thanks a lot!

  

  Marcel van Vliet

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  06/06/2017 at 10:18 PM #37666
  GraHal

  I get attached, is this correct for the code in #37654 ??

  

  GraHal

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  07/12/2017 at 8:30 AM #40411
  Marcel van Vliet

  Hi Grahal,

  My excuses for my late reaction, I was on a holliday in the sun for a while.

  I have tweaked the pressure Gage indicator a little . I encluded the code of the indicator as I am using it now.

  Pressure Gage indicator

  period=20 c=Chandle[period](close) avg=average[period](c) dev=std[period](c) upper=avg+dev*2 lower=avg-dev*2 osc=c-avg up=upper-avg dn=lower-avg if osc>0 then r=0 g=0 b=102 endif if osc<0 then r=255 g=102 b=102 endif return osc coloured(r,g,b) style(histogram),up style(dottedline),dn style(dottedline)

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  period=20 c=Chandle[period](close) avg=average[period](c) dev=std[period](c) upper=avg+dev*2 lower=avg-dev*2 osc=c-avg up=upper-avg dn=lower-avg   if osc>0 then r=0 g=0 b=102 endif   if osc<0 then r=255 g=102 b=102 endif   return osc coloured(r,g,b) style(histogram),up style(dottedline),dn style(dottedline)

   

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  Marcel van Vliet

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