A trading indicator is a statistical calculation based on the price and/or volume of a security or other asset. It is used as a technical analysis tool to help traders identify patterns, trends, and potential trade opportunities in the market. Indicators can be based on various types of data, such as price, volume, and open interest, and can be plotted on a chart to help traders visualize the data and make informed decisions. There are many different types of indicators, including trend indicators, momentum indicators, volatility indicators, and oscillators, each of which can provide different insights and help traders make different types of trades. Some common examples of trading indicators include the moving average, relative strength index (RSI), and Bollinger bands.
If you are using the search bar to find the MarketGod Indicators, stop. The indicators that are publicly published in the library are no longer supported. They were updated in September 2021 to consolidate all the versions into one. The only way to find the indicator and strategy is through the invite only section of the library. If you do not see the invite only section, we have not added you yet OR the name you've submitted is incorrect.
Repainting in Pine Script refers to the phenomenon of an indicator or strategy's output changing as new price bars are added to the chart. This can happen when the indicator or strategy uses data from future bars to calculate its output, which is not available at the time the indicator or strategy is initially calculated. As a result, the indicator or strategy's output may appear to change or "repaint" as new data becomes available. Repainting can be a problem because it can make it difficult to accurately backtest or forward test a strategy, as the strategy's output may change depending on the data that is available. It can also make it difficult for users to interpret the indicator or strategy's output, as it may not be clear what data was used to calculate the output. To avoid repainting, it is important to design indicators and strategies that use only data that is available at the time the indicator or strategy is calculated. This can be achieved by using functions such as sma(), wma(), and ema(), which use only historical data to calculate their output. It is also important to test indicators and strategies thoroughly to ensure that they do not exhibit repainting behavior.
Backtesting is a way of evaluating the performance of a trading strategy by simulating its performance on historical data. It involves applying a trading strategy to historical data to see how well it would have performed in the past, and it can be used to estimate the potential future performance of the strategy. Backtesting can be a valuable tool for traders, as it allows them to test their strategies on a large amount of data and to make more informed decisions about which strategies to use. It can also help traders to identify potential problems with their strategies and to make adjustments to improve their performance.
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Ghost alerts occur when users have outdated alerts. These events happen when users have not cleared their alerts after a recent update to the indicator on their chart & therefore, they are receiving alerts for an older version.
You can use all of our indicators with a free account, but keep in mind that you can only set up one live alert with a free account and only have up to three indicators on your chart active at one time. With a Pro account, you can set up multiple alerts and have up to 10 indicators on your chart at one time. I recommend a PRO+ account, which will give you more than enough alerts and indicators on your chart.
The relative strength index (RSI) is a technical analysis indicator that measures the strength of a stock's price movement. It is calculated using the average gains and losses of a stock over a given period of time, and is displayed as a line graph with values ranging from 0 to 100. A stock with a high RSI is considered to be overbought, and one with a low RSI is considered to be oversold. RSI is commonly used by traders to identify potential buying or selling opportunities, and to confirm other technical analysis signals. It is calculated using the following formula: RSI = 100 - 100 / (1 + RS), where RS is the average gain of the stock over the given period divided by the average loss of the stock over the same period.