The Detrended Price Oscillator (DPO) is a magical time machine that helps us remove price trends and identify short-term cycles. DPO measures the range and typical duration of cycles by comparing past prices with a simple moving average. However, DPO does not necessarily generate signals and is best used in conjunction with other indicators that measure trends or momentum.
Tom's Trading Compass is a powerful tool that helps traders identify potential market trend reversal points through specific price action patterns. The script uses sequential logic and label plotting to analyze price movements, identify buy and sell signals, and provide intuitive visual indications to help traders better understand and track market dynamics.
This article introduces an indicator called "L3 Projected Magic-9/13", which is based on the TDS theory and has been innovated and expanded. The main features of the indicator include projection range, multi-timeframe support, magical nine turns logic, chart labels, and custom functions. It is used to identify market trends and turning points and is suitable for experienced traders and analysts.
Pine Script is a scientific language based on logic and data that performs magic on TradingView charts. It uses the opening price, high price, low price, closing price, and trading volume of each candlestick to cast its magic. Historical candlesticks are only executed once, on the closing price, while real-time candlesticks are executed every time the data is updated. Built-in variables such as open, high, low, close, and volume are used to predict the future based on past data on historical candlesticks and continuously update on real-time candlesticks. The behavior of strategies and indicators is also different, with strategies being executed only on the closing of real-time candlesticks, while indicators are executed on every update. Understanding the execution mechanism of Pine Script can better utilize this powerful tool for quantitative trading.
This article introduces common recursive filters in TradeStation formulas, including FIR and IIR structures. It lists some common moving averages and filter types such as simple moving average, weighted moving average, exponential moving average, etc. Additionally, it mentions the principles and applications of the Kalman filter as a type of recursive filter. The article emphasizes that recursive filters are suitable for real-time systems and have the ability to adapt and adjust to changes in market conditions. Finally, it provides a list of common types and application areas for both recursive and non-recursive filters.