Enhanced — Indicators and Strategies

TradFi Fundamentals: Enhanced Macroeconomic Momentum Trading Introduction The "Enhanced Momentum with Advanced Normalization and Smoothing" indicator is a tool that combines traditional price momentum with a broad range of macroeconomic factors. I introduced the basic version from a research paper in my last script. This one leverages not only the price action of a security but also incorporates key economic data—such as GDP, inflation, unemployment, interest rates, consumer confidence, industrial production, and market volatility (VIX)—to create a comprehensive, normalized momentum score. Previous indicator Explanation In plain terms, the indicator calculates a raw momentum value based on the change in price over a defined lookback period. It then normalizes this momentum, along with several economic indicators, using a method chosen by the user (options include simple, exponential, or weighted moving averages, as well as a median absolute deviation (MAD) approach). Each normalized component is assigned a weight reflecting its relative importance, and these weighted values are summed to produce an overall momentum score. To reduce noise, the combined momentum score can be further smoothed using a user-selected method. Signals For generating trade signals, the indicator offers two modes: Zero Cross Mode: Signals occur when the smoothed momentum line crosses the zero threshold. Zone Mode: Overbought and oversold boundaries (which are user defined) provide signals when the momentum line crosses these preset limits. Definition of the Settings Price Momentum Settings: Price Momentum Lookback: The number of days used to compute the percentage change in price (default 50 days). Normalization Period (Price Momentum): The period over which the price momentum is normalized (default 200 days). Economic Data Settings: Normalization Period (Economic Data): The period used to normalize all economic indicators (default 200 days). Normalization Method: Choose among SMA, EMA, WMA, or MAD to standardize both price and economic data. If MAD is chosen, a multiplier factor is applied (default is 1.4826). Smoothing Options: Apply Smoothing: A toggle to enable further smoothing of the combined momentum score. Smoothing Period & Method: Define the period and type (SMA, EMA, or WMA) used to smooth the final momentum score. Signal Generation Settings: Signal Mode: Select whether signals are based on a zero-line crossover or by crossing user-defined overbought/oversold (OB/OS) zones. OB/OS Zones: Define the upper and lower boundaries (default upper zones at 1.0 and 2.0, lower zones at -1.0 and -2.0) for zone-based signals. Weights: Each component (price momentum, GDP, inflation, unemployment, interest rates, consumer confidence, industrial production, and VIX) has an associated weight that determines its contribution to the overall score. These can be adjusted to reflect different market views or risk preferences. Visual Aspects The indicator plots the smoothed combined momentum score as a continuous blue line against a dotted zero-line reference. If the Zone signal mode is selected, the indicator also displays the upper and lower OB/OS boundaries as horizontal lines (red for overbought and green for oversold). Buy and sell signals are marked by small labels ("B" for buy and "S" for sell) that appear at the bottom or top of the chart when the score crosses the defined thresholds, allowing traders to quickly identify potential entry or exit points. Conclusion This enhanced indicator provides traders with a robust approach to momentum trading by integrating traditional price-based signals with a suite of macroeconomic indicators. Its normalization and smoothing techniques help reduce noise and mitigate the effects of outliers, while the flexible signal generation modes offer multiple ways to interpret market conditions. Overall, this tool is designed to deliver a more nuanced perspective on market momentum.

Line Chart Enhancer by makuchaku Tradingview has a good line chart, but I wanted to make it even more awesome. Some shortcomings which this line chart enhancer script fixes Colors up move as green, down move as red (you can change them as you like) Plots high and low - so that one can be aware about what the price is doing To achieve the look with markers as shown above Goto Symbol settings > Type > Select "With Markers" Feedback welcome!

Enhanced Williams %R The Enhanced Williams %R Indicator was created by Robert J Kinder Jr (Stocks & Commodities V5:5 (180-182)) and is based on the Williams %R Indicator. It takes volume into account and the buy and sell signals are pretty much the same. I would recommend to buy when the indicator is over the signal and if you want a confirmation then also make sure the signal is above 0. Sell if it falls below the signal or if the signal goes below 0 or of course buy or sell when the indicator goes into overbought or oversold territory. I'm still tinkering with this indicator and it is the first time I have seen this indicator script published so let me know if you have any suggestions for me. And of course let me know if you would like me to write indicators for you or anything else you would like to see!