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Compositeindex

MacroTrend VisionThe "MacroTrend Vision" indicator is crafted with a singular goal – to provide traders with a quick and insightful snapshot of a country's global index. Seamlessly combining macroeconomic and technical perspectives, this tool is designed for those seeking a straightforward yet comprehensive overview. Let's explore the key features that make the "MacroTrend Vision" a valuable asset for traders looking to grasp both the big-picture economic context and technical nuances. 1. Long-Term Vision with Weekly Periods: Gain a genuine long-term perspective with the ability to process 2500 weekly periods. This feature ensures a holistic understanding of global indices from both macroeconomic and technical viewpoints. 2. Composite Leading Indicator (CLI) Conditions: Integrate both macroeconomic trends and technical signals through Composite Leading Indicator (CLI) conditions derived from the Relative Strength Index (RSI), offering a comprehensive outlook for informed decision-making. 3. Deviation Bands for Volatility Analysis: Refine market analysis with strategically integrated deviation bands (0.2 and 0.4) based on smoothed linear regression. Anticipate volatility and potential trend shifts, aligning macro and technical insights. 4. Logarithmic Scale Transformation: Enhance precision in understanding price movements with a logarithmic scale transformation, especially beneficial for assets with exponential growth patterns. 5. Separated Window for Easy Navigation: Streamline your analysis with a user-friendly design – a separated window allowing easy navigation through different symbols without altering indicator settings. 6. Alert System for CLI Conditions: Stay informed about critical shifts with an alert system for both long and close conditions based on the RSI of the CLI. Even during periods of limited chart monitoring, this feature keeps you connected to macroeconomic and technical changes. In essence, the "MacroTrend Vision" is your go-to tool for a balanced view, simplifying the complexities of global indices with a blend of macroeconomic insights and technical clarity.
Pine Script® indicator
by Julien_Eche
1
Leading Economic Indicator (LEI)The Leading Economic Indicator (LEI) is a groundbreaking technical indicator designed to serve as a comprehensive measure of the prevailing direction of economic trends in the United States. This unique index combines two key economic indicators: the Composite Leading Indicator (CLI) from the Organization for Economic Co-operation and Development (OECD) and the Purchasing Managers' Index (PMI) from the Institute for Supply Management (ISM). The OECD Composite Leading Indicator (CLI) is a globally recognized indicator that assesses the future direction of economic trends by analyzing various leading economic factors. The ISM PMI, on the other hand, provides insights into the business activities of both the manufacturing and services sectors. LEI merges these critical indicators into a single, holistic indicator that empowers traders and investors to grasp the broader economic outlook and the performance of essential economic sectors simultaneously. By taking into account the CLI and PMI, LEI offers a distinctive perspective, enabling a more accurate assessment of the potential direction of US financial markets. Usage: To utilize LEI effectively, it is recommended to apply it on a monthly timeframe (TF Monthly). This extended timeframe is particularly beneficial for investors with a medium to long-term horizon. By focusing on longer-term trends and market stability, LEI becomes an invaluable tool in your investment strategy. One of the primary applications of LEI is to gauge the risk of market corrections in US financial markets, including the S&P 500, Nasdaq, and Dow Jones indices. Analysts often observe the crossing of the 5-period Simple Moving Average (SMA) with the 10-period SMA. When the 5-period SMA falls below the 10-period SMA, it serves as a potential warning signal for an impending market correction. This feature provides traders with an opportunity to exercise caution and make well-informed investment decisions. LEI, with its unique blend of the OECD CLI and ISM PMI, provides a reliable tool for assessing the US economic climate, identifying trends, and making informed decisions in the financial markets. It stands as a reference indicator, capturing the essence of economic trends and providing valuable insights to traders and investors. Sources: - OECD Composite Leading Indicator (CLI): www.data.oecd.org - Purchasing Managers' Index: ISM Report on Business (PMI) www.ismworld.org
Pine Script® indicator
by Julien_Eche
2
RSI + Composite Index [SHK]One of the most powerful indicator based and divergence strategies i have ever seen was made by Constance Brown. The Composite Index: The best way to think of the Composite Index as it applies to the RSI is to think of the RSI as Windows 3.0 and the Composite Index as Windows 10. Constance Brown discovered that the RSI, while it does create and detect divergences, does is not as accurate as it could be. It’s a bit of an oxymoron to say this but the RSI is a momentum indicator without any momentum calculation attached to it. The RSI actually misses a significant amount of important moves and even generates some bad moves. What Constance Brown did with the RSI is to input a momentum calculation within the RSI itself. Usage: 1. Check hidden and regular divergences on RSI+COMPOSITE_INDEX and PRICE+COMPOSITE_INDEX. 2. After finding divergence wait for COMPOSITE_INDEX to cross under/over it's moving averages to trigger. Useful Note: "RSI overbought/oversold as filter", "RSI and COMPOSITE_INDEX trendline as trigger", "RSI 50 Over/Under as trend direction detection", ... can be add to this strategy. Enjoy!
Pine Script® indicator
by shayankm
43
CBCI RSI ParallelParallel version of CBCI Cu + RSI w/ SMA and EMA. It's both indicators, but combined into one indicator space with an adjustable bidirectional offset for the spacing and location. According to Constance Brown, both the CBCI and RSI are technically supposed to be used in tandem to easily spot divergences - this is an attempt to put that into practice, in one indicator, in the context of tradingview subscription limitations for non Pro/Premium users.
Pine Script® indicator
by auroagwei