Indicator from the paper "IDENTIFYING BEAR MARKET BOTTOMS AND NEW BULL MARKETS"
This paper was the winner of the prestigious 2002 Charles H. Dow Award. Each year the Market Technicians Association, in alliance with Dow Jones and Company, presents an award for excellence in the field of Technical Analysis. The recipient of that award in 2002 was Paul Desmond,...
Traders tend to focus their energy on specific sessions or time periods. This indicator will plot the days of the week, and also highlight the following sessions: Frankfurt (2:00am - 11:00am EST), London (3:00am - 12:00pm EST), New York (8:00am - 5:00pm EST), Sydney (5:00pm - 2:00am EST), Tokyo (7:00pm - 4:00am EST).
It’s important to be aware that Session Open...
Use this script to see the depths of corrections and also to see how long it has been since a correction.
I published this script because the last time the SNP has gone this long without a 5% correction was 1996 excluding bear markets of course.
NOTE: This script is a 2 in 1. In order to see correction depth only use the first 3 plot settings as...
Utils for time series
tradingDaysTillEndOfMonth() Calculates how many full trading days left until the end of the current month. (It doesn't take into account market holidays)
Returns: int series of the remaining trading days until the end of the month.
Method to find the number of days in a given month of year.
days_in_month(year, month) Method to find the number of days in a given month of year.
year : int, year of month, so we know if year is a leap year or not.
month : int, month number.
Helps to see the number of days in any default timeframe chart. (Not yet tested with custom time frames!)
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DayLow(x) tracks the days since a new low on a chart. I like to use this indicator to track trends up and down. I use a double DayLow indicator: DayLow(5) Red Line + DayLow(6) shaded red This is a short term indicator to let new know a stocks weakness early on the chart.