This indicator is based on my TSI shadow previously published
This custom version will also color the candles based on the TSI shadow trend
Bullish condition = TSI > MA2 and MA1> MA2
Bearish condition = TSI < MA1 and MA1 < MA2
I made alerts available for this indicator so you can set them on your...
This is translated out of Technical Analysis of Stocks & Commodities, September 2010, (I take zero design credit). The script simply looks for the price action to break or "clear" the most recent action, and only changes the paintbar color if the action indeed clears the previous candles. Simple to use, just add to your chart from your favorites and change the...
Here is another indicator.
This indicator is useful from psychological point of view. It has a 20 EMA, which you can change to any value. The color of the candles or the bars will stay green unless and until we have a closing below 20 EMA, where it would give a red bar.
The tool has a great impact on psychology and keeps us in trade irrespective of the...