Swamichart — Indicators and Strategies

swami_rsi Description: As in the practices, most traders find it hard to set the proper lookback period of the indicator to be used. SwamiCharts offers a comprehensive way to visualize the indicator used over a range of lookback periods. The SwamiCharts of Relative Strength Index (RSI), was developed by Ehlers - see Cycle Analytics for Traders, chapter 16. The indicator was computed over multiple times of the range of lookback period for the Relative Strength Index (RSI), from the deficient period to the relatively high lookback period i.e. 1 to 48, then plotted as one heatmap. Features: In this indicator, the improvement is to utilize the color(dot)rgb() function, which finds to giving a relatively lower time to compute, and follows the original color scheme. The confirmation level, which assumed of 25

swami_money_flow Description: Chaikin Money Flow was an indicator that measuring of the volume-weighted average of accumulation and distribution over a specified period (as cited from Fidelity) developed by Marc Chaikin, aim to identify the changes in buying or selling momentum of an asset that leads to the increase or decrease of asset prices. In the original format, the cross above 0 of money flow depicts a buying pressure, while a cross under 0 means a selling pressure. In this indicator, the money flow was displayed in a swami chart, used for detecting a change not only in one specified period but instead in multiple periods at once. Sequencing from the very below, the indicator capture the shift in money flow in shorter lookback periods, going through the very above the indicator capture the change of money flow in greater lookback periods. The color is set to gradient from red as indicating the negative money flow, while green indicates a positive money flow. A smoothing function was given (from Ehlers smoothing function) to reduce noises. Money Flow: cmf = n-day sum of( (((close - low) - (high - close)) / (high - low)) x volume )/ n-day sum of volume smoothed = (4*cmf + 3*cmf + 2*cmf + cmf )/10 Notes: the Darker the color indicates the higher the value e.g. dark red means more selling pressure, and vice versa if the color is a lineup in a one period, indicates a strong signal (both directions) very below is for a shorter period, and increasing through to the longest (1 - 30 by default) Other Example

[blackcat] L2 Ehlers SwamiCharts Stochastic Level: 2 Background John F. Ehlers introuced SwamiCharts Stochastic Indicator in Mar, 2012. Function In the late 1950s, George Lane developed stochastics, an indicator that measures the relationship between an issue's closing price and its price range over a predetermined period of time. To this day, stochastics is a favored technical indicator because it is easy to understand and has a high degree of accuracy in indicating whether it's time to buy or sell a security. In “Introducing SwamiCharts” in Mar, 2012, authors John Ehlers & Ric Way presented the use of SwamiCharts to better visualize market activity using an indicator that presents a heatmap visualization. The authors provided descriptions for the construction of SwamiCharts using Stochastic indicator. Key Signal Stochastic ---> Stochastic array Plot2~48 ---> SwamiCharts Stochastic Heat Map Pros and Cons 100% John F. Ehlers definition translation, even variable names are the same. This help readers who would like to use pine to read his book. Remarks The 78th script for Blackcat1402 John F. Ehlers Week publication. Readme In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts. The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works. Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element. Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level. Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated. Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop. Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.

[blackcat] L2 Ehlers SwamiCharts Aroon Level: 2 Background John F. Ehlers introuced SwamiCharts Aroon Indicator in Mar, 2012. Function The Aroon indicator is a technical indicator that is used to identify trend changes in the price of an asset, as well as the strength of that trend. In essence, the indicator measures the time between highs and the time between lows over a time period. In “Introducing SwamiCharts” in Mar, 2012, authors John Ehlers & Ric Way presented the use of SwamiCharts to better visualize market activity using an indicator that presents a heatmap visualization. The authors provided descriptions for the construction of SwamiCharts using Aroon indicator. Key Signal Aroon ---> Aroon array Plot4~33 ---> SwamiCharts Aroon short ---> Short entry signal Pros and Cons 100% John F. Ehlers definition translation, even variable names are the same. This help readers who would like to use pine to read his book. Remarks The 77th script for Blackcat1402 John F. Ehlers Week publication. Readme In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts. The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works. Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element. Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level. Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated. Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop. Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.

[blackcat] L2 Ehlers SwamiCharts RSI Level: 2 Background John F. Ehlers introuced SwamiCharts RSI in his "Cycle Analytics for Traders" chapter 16 on 2013. Function SwamiCharts retain the core functionality of the technical indicators with which you're already familiar, while packing much more information into an easy-to interpret heat map chart. With SwamiCharts, you now visualize each indicator over a range of lookback periods to reveal a better view of the indicator's truer meaning in context. SwamiCharts provide a better solution because you can now visualize context over a wide range of lookback periods. Trends and cycles emerge more succinctly, while continuation patterns and reversals become easier to identify. SwamiCharts solves the data lookback problem by enabling you to view market conditions at a glance, a feature that will dramatically facilitate your trading. Since the MyRSI is computed for all values over the range of lookback periods, it must be an array in Pine v4.0 rather than a variable. The RSI is computed relative to the output of the roofing filter rather than price closes to eliminate the effects of Spectral Dilation. After the computation of the ratio, the indicator is smoothed in a SuperSmoother filter, so we must create the three most recent instances ourselves in the code. This is because Pine v4.0 retains historical values for variables but not for arrays. In fact, ratio must be an array also for the same reasons. The coefficients for the 10-bar SuperSmoother filter are computed and are the same for all lookback periods, and so can be outside the lookback loop to make the calculations a little more efficient. Key Signal MyRSI1 --> Modified RSI by John Ehlers Pros and Cons 100% John F. Ehlers definition translation, even variable names are the same. This help readers who would like to use pine to read his book. Remarks The 62th script for Blackcat1402 John F. Ehlers Week publication. Readme In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts. The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works. Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element. Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level. Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated. Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop. Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.