Numlocka

Weekend Trader Smoothed Rate of Change


Rate of change indicator based on Nick Radge's Weekend Trend Trader Strategy, with an added extra of EMA smoothing if you want it.

This indicator simply turns green when the rate of change is above a certain level (value is set in threshold)

Threshold is defaulted to 30 as outlined in the strategy rules

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Комментарии

Thanks a lot, it is really easy to identify the visually the ROC > 30% as mentioned in the book for my manual back testing. Will you be able to navigate me where can I find weekend trader stop indicator highlighted on the chart image? Is it based on ATR or % change as trail stop and Index filter as mentioned in the book. Also did you try to back test on trading view the strategy. currently I am dong manual backrest which is little time consuming different market condition.
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Nice work. Did you also work out how to see when the price closed above a new 20 week high?
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Numlocka lscharkie
@lscharkie, Yes, I use a combination of a screener and then another indicator that I've written for the specific closing weekly highs. I'm also working on a combined indicator whenever I have some free time that will just print when all of the criteria is met, rather than using a combination of different indicators.
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lscharkie Numlocka
@Numlocka, that's great, nice work coding these. I'm really interested by Nick Radge's work. Do you mind if I ask how you screen for it? Currently can only see how to screen for 1,3,6 month highs. I guess the 3 month high would be close to the 20 week high.
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Numlocka lscharkie
@lscharkie, Thanks - yes thats pretty much what I do, scan for a 3 or 6 month high and then review each and begin to eliminate what doesn't match the criteria. I also use another screener service outside of Trading view that I sometimes run for 20 week highs - I then import that list into a TV watch list
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lscharkie Numlocka
@Numlocka, would you mind sharing what you use to scan for a 20 week high? Any help would be greatly appreciated.
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Numlocka lscharkie
@lscharkie, I use the trading view screener for 3 or 6 month high on the weekly and then use a indicator that shows me if the high is the highest over the last 20 bars on the weekly chart and just roll through them
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lscharkie Numlocka
@Numlocka, Do you also only buy stocks with a 7 day minimum 500,000 volume for ASX stocks?
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Numlocka lscharkie
@lscharkie, yes sometimes I do factor something like that in - you can just flick on the daily chart to get an idea of the liquidity and flow of the stock - I also look at a few market capitalisation range brackets.
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