OPEN-SOURCE SCRIPT
Cumulative Weighted Change (Session) with 14 MA
This indicator provides the session weighted cumulative change of the Magnificent 7(AAPL META GOOG AMZN MSFT NVDA TSLA), it is weighted according to their market capitalization and size in relation to size of the market. The bar to bar current change is plotted by the fast line that begins its calculations at the start of each daily session, the smoother(slower) line is the 14 period Volume Weighted Moving Average of the cumulative change.
I use this in conjunction with a timeframe continuity indicator in order to weed out invalid signals, I have one that I have recently published. I use this to trade futures and index stock options, since the 7 tickers that this indicator is built off of are the biggest force that moves markets this ends up acting as an alpha indicator if you can find a consistent and reliable way to weed out false signals.
Happy Trading!
-Drgzzz
I use this in conjunction with a timeframe continuity indicator in order to weed out invalid signals, I have one that I have recently published. I use this to trade futures and index stock options, since the 7 tickers that this indicator is built off of are the biggest force that moves markets this ends up acting as an alpha indicator if you can find a consistent and reliable way to weed out false signals.
Happy Trading!
-Drgzzz
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.