Technical Indicators — What’s Useful & What Isn’t | Lux Algo

Image for post
Image for post

1. Introduction

2. Evolution Of Technical Indicators

3. Technical Indicators Performances

4. Are Popular Indicators Better Than Less Popular Ones?

5. Redundant Information

Image for post
Image for post
Image for post
Image for post

6. Repainting And Non Causality

Image for post
Image for post

7. Conclusions

8. Codes Used In Snapshots

8.1 Moving Average Ribbon

study(“My Script”,overlay=true)
ma1 = ema(close,20)
ma2 = ema(close,40)
ma3 = ema(close,60)
ma4 = ema(close,80)
ma5 = ema(close,100)
ma6 = ema(close,120)
ma7 = ema(close,140)
ma8 = ema(close,160)
a = plot(ma1,transp=100)
b = plot(ma2,transp=100)
c = plot(ma3,transp=100)
d = plot(ma4,transp=100)
e = plot(ma5,transp=100)
f = plot(ma6,transp=100)
g = plot(ma7,transp=100)
h = plot(ma8,transp=100)

8.2 Pivots S/R (negative offset)

study(“Pivots S/R (negative offset)”,overlay=true)
length = input(14)
ph = fixnan(pivothigh(length,length))
pl = fixnan(pivotlow(length,length))
plot(ph,”Plot”,change(ph) ? na :,2,offset=-length)
plot(pl,”Plot”,change(pl) ? na :,2,offset=-length)

9. References

Lux Algo aims to provide traders with truly useful, unique, & reliable tools that can give them an edge over others in any market.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store