INVITE-ONLY SCRIPT
Excess Invites Punishment (EIP) by Scipio Pro
Scipio Pro's EIP is a reversal indicator. It is based on two types of evidence.
1) Proof of Fatigue -- The move that triggers the signal is losing momentum
2) Proof of Excess -- The move that triggers the signal is excessive
If both are the case, we get a signal.
The script uses standard deviations and Bollinger Bands for measuring excess and the ATR for the Breakout Continuation Protection (see below). For fatigue, the EIP detects divergences from indicators like OBV, MACD, RSI and more. It expresses these with a number. For example, if the EIP detects 9 bullish divergences, it prints the number 9 below the corresponding candle.
Hesitant Buy and Hesitant Sell mean there may have been a breakout recently, as measured with the ATR, meaning there is an increased likelihood of continuation. These can provide good buys or sells but more caution is warranted. You can adjust the so-called Breakout Continuation Protection in Settings. Doing so may lead to either more or less "hesitant" signals.
The signals don't repaint. Of course, the divergences get recalculated as the market evolves, as they should. But signals like Buy, Sell, Hesitant Buy, and Hesitant Sell never repaint.
The EIP is useful on many different time-frames and with many different assets, be they in stocks or crypto. The images below show results from BTC, MATIC, and S&P 500 over multiple years, both on small and large time-frames.
As always, use at your own risk. Using indicators is no substitute for using one's brain.
1) Proof of Fatigue -- The move that triggers the signal is losing momentum
2) Proof of Excess -- The move that triggers the signal is excessive
If both are the case, we get a signal.
The script uses standard deviations and Bollinger Bands for measuring excess and the ATR for the Breakout Continuation Protection (see below). For fatigue, the EIP detects divergences from indicators like OBV, MACD, RSI and more. It expresses these with a number. For example, if the EIP detects 9 bullish divergences, it prints the number 9 below the corresponding candle.
Hesitant Buy and Hesitant Sell mean there may have been a breakout recently, as measured with the ATR, meaning there is an increased likelihood of continuation. These can provide good buys or sells but more caution is warranted. You can adjust the so-called Breakout Continuation Protection in Settings. Doing so may lead to either more or less "hesitant" signals.
The signals don't repaint. Of course, the divergences get recalculated as the market evolves, as they should. But signals like Buy, Sell, Hesitant Buy, and Hesitant Sell never repaint.
The EIP is useful on many different time-frames and with many different assets, be they in stocks or crypto. The images below show results from BTC, MATIC, and S&P 500 over multiple years, both on small and large time-frames.
As always, use at your own risk. Using indicators is no substitute for using one's brain.
Skrip hanya-undangan
Akses ke skrip ini dibatasi hanya bagi pengguna yang telah diberi otorisasi oleh penulisnya dan biasanya membutuhkan pembayaran untuk dapat menggunakannya. Anda dapat menambahkannya ke favorit anda, tetapi anda hanya akan dapat menggunakannya setelah meminta izin dan mendapatkan aksesnya dari pembuat skripnya. HubungiScipioPro untuk informasi lebih lanjut, atau ikuti instruksi penulisnya dibawah ini.
TradingView tidak menyarankan untuk membayar untuk sebuah skrip dan menggunakannya kecuali anda 100% mempercayai pembuatnya dan memahami cara kerja skrip tersebut. Dalam banyak kasus, anda dapat menemukan alternatif skrip sumber terbuka yang bagus secara gratis di Skrip Komunitas kami.
Instruksi penulis
″Get access to this indicator through our website: https://scipio.pro (and not through the comment section).
Inggin menggunakan skrip ini pada chart?
Peringatan: harap membaca sebelum meminta akses.
Get access to our indicators now at scipio.pro
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.