fourkhansolo

BMI_4khansolo

Bearish Market Indicator is a simple tool that highlights significant changes on the canvas (chart). For example, if the price dips lower than 50 days Moving Averages (MA), it will highlight white. If the close (closed price) is lower than the 200 days MA, then the highlight color turns into orange. Finally, if the close value (closing price) dips lower than the 20% from the recent highs, it will highlight purple.


Release Notes: Making the Graph More Readable
- Cleaned the weak signals for 50MA and 200MA by filling between the two MA(s).
- Polished the name into the abbreviation form (Bearish Market Indicator into BMI).
Release Notes: -Reorganized the codes to make it more conformed
- Cleaner Look (for the code)
Release Notes: ! If you are going to use this indicator, please double check the calculations under the source; and use it at your own discretion!

If the price is lower than 50D MA, White Highlight
If the price is lower than 200D MA, Orange Highlight
If the price is lower than 50D MA & 200D MA, Red Highlight
If the price is lower than BMI VALUE (20% Low from the High/Peak), Purple Highlight

Features Added!
+ MACD is added under the BMI-Value LINE (20% lower from the 52W High)
+ MACD Color
Release Notes: Updated Bearish Market Indicator Highlight (The highlight does not obstruct the price data).
Cleaned Up the code.
+ RSI, RSI-Color {green, yellow, orange, red} = {RSI > rsiMA and not overbought or over sold, RSI < rsiMA and not overbought or over sold, overbought, oversold}
Release Notes: More Saturated Highlights for 50,200D MA.
Release Notes: Color correction for RSI
RSI > 70 = Bright Orange
RSI < 30 = Dull Orange
RSI > RSIma = Green
RSI < RSIma = Red
Changes needed as the MA becomes more relevant for the price fluctuations.
Release Notes: Added new codes
Added more context to the Code at the beginning
Added the title name with short title name.
RSI Update
+ Clearer RSI based Indicator (Overbought = Dark Green, Oversold=Dark Red)
MA update
+ Cleaner Look (Less Obstruction)
Plot Naming
+ Added title to plots or fills
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