I’ve taken the TOS Stochastic Momentum Index, a fast oscillator adept at showing divergences, and added a little twist. Each time the indicator makes a top or bottom and a regular divergence (trend reversal) is detected, an arrow is added indicating the direction of the divergence. The red arrows indicate negative divergence and green positive. Hidden divergences (continuation signals) are plotted in white. Also pictured is a custom variation of the Volume Profile allowing expanded fidelity by stacking numerous copies of the indicator. A keen eye will also reveal my incarnation of a support and resistance indicator based on sine wave cycles which is under development. Both studies will be included in next weekend’s Pro Subscriber update.
Stochastic Momentum Index with Divergence
I’m curious to to check out the new Volume Profile indicator. I’ve been using the Volume Profile Total since its inception. A tab bit bulky and clunky IMO, but I like the result.
Sine Waves – very nyce! – I’ve been working with the MESA Sine in TOS. As of yet I still have not been able to achieve the smoothness I had hoped I would. Perhaps this may be another leg up to achieving that result. Another way to perceive the Cycles.
Looking forward to the release.
Thanx Eric
Peace-
RappidFyre
I keep getting drawn back to the MESA sine wave – I used the MESA-based “Mother of All Moving Averages” (MAMA/FAMA) with great luck earlier in my trading career at another broker. That got me into the Sine Wave somewhat … while it looks promising, I just think the Sine Waves take far too much effort to interpret to be useful to me intraday…..or maybe I’m just not using ‘em correctly!
looks like a cool indicator. Thanks for TOS value addition
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Great work.