Overlay S&P 500 Index on Top of the RS Line Indicator

Here’s a quick trick showing how to overlay the S&P 500 on the RS Line indicator in @TradingView. This can be helpful to see the divergence between the two and get a visual when a stock is outperforming the market.

Additional RS Line Information

RS Line Indicator for TradingView (open source)

Create your own RS Line Indicator for TradingView in Pine Script

Create an RS Line Indicator for TradingView in Pine Script

In this video tutorial you’ll learn how to create a fully functional RS Line indicator for TradingView in Pine Script.

RS Line features:

■ Choose the index (S&P 500 default)
■ Optional line color based on direction
■ Adjust line width and vertical offset
■ New high indicator

The video was put together rather quickly, so apologies up front on a few rather clunky transitions. Hopefully the content makes up for the lack of polish. Time for an equipment upgrade 🙂

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Darvas Box Theory – Tracking Uptrends

The Darvas box theory is based on the work of Nicolas Darvas, author of the book How I Made $2 Million in the Stock Market. This indicator uses his box theory to help visualize upward trends and find potential opportunities to buy or add to a position.

Darvas was a growth stock trader. After extensive study of historical stock movements, Darvas noted stocks “have a defined upward or downward trend which, once established, tended to continue. Within this trend stocks moved in a series of frames, or what I began to call boxes.

TradingView is my preferred tool for charting and technical analysis. They offer both free and paid versions. Check out the free trial!

Install the latest release of Darvas Box Theory – Tracking Uptrends indicator.

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Ants Indicator – Momentum, Volume and Price (MVP)

The Ants indicator for TradingView is based on the research of David Ryan, three-time winner of the U.S. Investing Championship. David came up with the idea for the indicator while managing the New USA Growth Fund at William O’Neil + Company. David was interested to understand what drove some stocks higher once they were extended from their most recent base, while others had only moderate moves up.

What David found during his research was that stocks making the biggest moves often had consistent buying on volume over a period of 12 to 15 trading days. Stocks with these characteristics may be under institutional accumulation, where it may take days to weeks to fill a position.

Free Trial: If you haven’t tried the TradingView charting app, you owe it to yourself to give their free trial a spin. You won’t regret it!

Here’s where you can find the latest release of Ants — Momentum, Volume and Price (MVP)

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