This System was created from the Book "How I Tripled My Money In The
Market" by Ulf Jensen, Page 183. This is reverse type of strategies.
The strategy buys at market, if close price is higher than the previous close
during 2 days and the meaning of 9-days Slow Oscillator is lower than 50.
The strategy sells at market, if close price is lower than the previous close price
during 2 days and the meaning of 9-days Fast Oscillator is higher than 50.
The theory behind the indexes is as follows: On days of increasing ,
you can expect prices to increase, and on days of decreasing , you can
expect prices to decrease. This goes with the idea of the market being in-gear
and out-of-gear. Both PVI and work in similar fashions: Both are a running
cumulative of values, which means you either keep adding or subtracting price
each day to the previous day`s sum. In the case of PVI, if today`s
is less than yesterday`s, don`t add anything; if today`s is greater,
then add today`s price . For , add today`s price
only if today`s is less than yesterday`s.
- For purpose educate only
- This script to change bars colors.
USDT (TRC20): TH29EEXa19vfwZNYvxdUuMxoFY5QDYLcWG
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.