SUPERALGOS GOVERNANCE
Data Mining Team Proof Of Value, May 2023
Exploring momentum breakouts
This month, three new indicators were committed to the ever growing repository by Carl Josefsson and quantum8 .
Trend, Volume & Volatility (TVV)
This indicator orbits between 1 to -1. Blue line is trend (Price action), Orange is volatility (Range action), Yellow is volume.
There is a zero line in the middle along with outer borders that is equal to the SMA positive trend and negative trend divided by an offset value (0.8 in this case) to symbolize overPositive and overNegative.
If volume is fading while trend goes outside the boundary — it might be a good idea to look for a reversal.
This indicator can be found in the Omega Mine.
Momentum Bars
This indicator is loosely inspired by Elder’s Impulse System (EIS). Similar to the MACD, if the value line (open value) is below the signal (close) then the bar is printed in red, and if these values are below the zero line then the momentum is said to be bearish. The opposite is true for a bullish momentum, printed in green.
This indicator can be found in the quantum mine.
Inside Bars
The Inside Bars indicator makes use of the pattern that the current candle is enveloped by the previous bar, and has the potential to break out from here, especially when there are two signals that follow each other.
When the indicator detects a candle that is “inside” of the previous one, an arrow is produced, with the colour depending on the direction of the current candle; Green for upward, and red for downward.
This indicator can be found in the quantum mine.
End Notes
With many more indicators in the pipeline, stay tuned for future updates in the area. As always, if you would like an indicator that’s not already in Superalgos, come chat with us in the telegram or discord groups.
