A pin bar pattern consists of one price bar, typically a candlestick price bar, which represents a sharp reversal and rejection of price. The pin bar reversal as it is sometimes called, is defined by a long tail, the tail…

Bull power vs Bear power – Histogram _SECTION_BEGIN(“Bull vs Bear”);periods = Param( “Periods”, 5, 3, 200, 1 );Bull = (H – O)*100/C;Bear = (L – O)*100/C;val = Bull + Bear; x = EMA(val,periods);Plot(x,””, colorOrange);dynamic_color = IIf( x> 0, colorGreen, colorRed…

Candle-color changes as per RSI value. If candle color is red then RSI is in bear zone and if candle color is green the RSI is in bull zone. Neutral Zone – RSI in between 45 and 55 (RSI Period can be changed from chart-property-settings) _SECTION_BEGIN(“RSI Candle”); Period =…

The Relative Momentum Index (RMI) was developed by Roger Altman in 1993 as an attempt to improve the Relative Strength Index (RSI) by adding a component of momentum to the RSI. The Relative Momentum Index uses change of closing price between…

Stochastic is an oscillator that measures the position of a stock OR security compared with its recent trading range indicating overbought OR oversold conditions.It displays current Day price at a percentage relative to the security’s trading range (High/Low) over the…

The VHF indicator measure wether the price is going horizontal (non-directional) or vertical (uni-directional), no indicator in technical analysis has this capacity. SetBarsRequired(sbrAll,sbrAll); VHFP = Param( “VHFPERIOD”, 20, 2, 100, 1 ); HCP = HHV( C, VHFP ); LCP = LLV( C,…