Thanks Richard. Amazing video as always. In tradingview to get a histogram for the Webby RSI change the plot command as below plot(webbyP, color =#01ffff, style=histogram)
@@RichardMoglen You need to define the version of the script first. For Version 3 use the below //@version=3 study("Webby RSI") webbyRSI=((low/ema(close,21))-1)*100 webbyP=iff(webbyRSI>0 , webbyRSI,0) wRsma=sma(webbyRSI,10) wRsmaP=iff(wRsma>0, wRsma,0) plot(webbyP, color=#01ffff, style=histogram) plot(wRsmaP) plot(.5,color=#00ff00) plot(2,color=#00ff00) plot(4,color=#ffff00) plot(6,color=#ff0000) For V4 the command is different //@version=4 study("Webby RSI") webbyRSI=((low/ema(close,21))-1)*100 webbyP=iff(webbyRSI>0 , webbyRSI,0) wRsma=sma(webbyRSI,10) wRsmaP=iff(wRsma>0, wRsma,0) plot(webbyP, color=#01ffff, style=plot.style_histogram) plot(wRsmaP) plot(.5,color=#00ff00) plot(2,color=#00ff00) plot(4,color=#ffff00) plot(6,color=#ff0000) First line makes all the difference, however it appears as a comment, which is misleading and gives you the impression that it can be deleted.
Richard, I viewed a lot of your videos and they are educational. I especially like the PCF code that you set up for TC2000 and the screener for MarketSmith. Keep up the good work! I look forward to viewing more videos from you!
Thanks for putting this out there for people. Schwab charts don't allow these mods (that I can tell), but I calculate the Webby RSI every day on the side. All props to Mike Webster. Sorry to see him leave IBD and the public sphere....
Love the video as always, great content, if your looking for another similar video Idea you could use Mike Webster registration lines he places on the NASDAQ chart to show the trend and breakin of trend and how he decides and places the anchors to set the registration lines, along with setup in trade station and TC2000. Just my thought, keep the great content coming!
Good! It doesn't seem to be showing up for everyone? here are the codes just in case: docs.google.com/document/d/1NaOd82MjCn9O9qvP3lUp3m5R8hVDLGv9dtIa09RdNLA/edit#
Thanks Richard. It's little unclear to me if webby is helpful for growth stocks in any way or if this construct is mainly used for general market assessment? thx (I miss Webster's kind of geeky reviews of the market. Watching him on the weekend made me feel more confident. )
Same tony, it was great to learn from webby on IBDlive. I think you can apply the same type of logic to growth stocks, the danger zones percentages would be different but still you can look for extremely high values as a tell that the stock is getting extended from it's 21 ema and could see a pullback
do you know why webster used the low of the day instead of the close for this indicator? there is a huge difference in signals. Also, is there a purpose of the 10 day sma? Another item for TC2000, is that in order to get only the top 1/2 of the histogram, you need to edit the scaling using "scale method" 0 to Max and make sure each % (.5-6) is scaled to the Webby RSI
Hi Richard, thank you for all the great content you have shared. Your videos have given me the confidence I needed to start trading. What broker would you recommend for a swing trader in Canada or South America (Ecuador)?
Thanks for another great video! Added to TradingView just fine. TC2000 everything looks right, EXCEPT mine is also displaying downward pointing bars where the price was below the 21 ema. How do I make that part disappear? thanks!
TradingView Code:
Thank you to Hassan Elamir for your contributions
//@version=4
study("Webby RSI")
webbyRSI=((low/ema(close,21))-1)*100
webbyP=iff(webbyRSI>0 , webbyRSI,0)
wRsma=sma(webbyRSI,10)
wRsmaP=iff(wRsma>0, wRsma,0)
plot(webbyP, color=#01ffff, style=plot.style_histogram)
plot(wRsmaP)
plot(.5,color=#00ff00)
plot(2,color=#00ff00)
plot(4,color=#ffff00)
plot(6,color=#ff0000)
Thanks Richard. Amazing video as always.
In tradingview to get a histogram for the Webby RSI change the plot command as below
plot(webbyP, color =#01ffff, style=histogram)
Thanks Hassan, I actually tried that on my end but was getting an error so I figure I would just show how to do it manually.
@@RichardMoglen
You need to define the version of the script first.
For Version 3 use the below
//@version=3
study("Webby RSI")
webbyRSI=((low/ema(close,21))-1)*100
webbyP=iff(webbyRSI>0 , webbyRSI,0)
wRsma=sma(webbyRSI,10)
wRsmaP=iff(wRsma>0, wRsma,0)
plot(webbyP, color=#01ffff, style=histogram)
plot(wRsmaP)
plot(.5,color=#00ff00)
plot(2,color=#00ff00)
plot(4,color=#ffff00)
plot(6,color=#ff0000)
For V4 the command is different
//@version=4
study("Webby RSI")
webbyRSI=((low/ema(close,21))-1)*100
webbyP=iff(webbyRSI>0 , webbyRSI,0)
wRsma=sma(webbyRSI,10)
wRsmaP=iff(wRsma>0, wRsma,0)
plot(webbyP, color=#01ffff, style=plot.style_histogram)
plot(wRsmaP)
plot(.5,color=#00ff00)
plot(2,color=#00ff00)
plot(4,color=#ffff00)
plot(6,color=#ff0000)
First line makes all the difference, however it appears as a comment, which is misleading and gives you the impression that it can be deleted.
Awesome Hassan thank you!
@@RichardMoglen Thanks to you Richard. We all learn a lot for your content.
Richard, I viewed a lot of your videos and they are educational. I especially like the PCF code that you set up for TC2000 and the screener for MarketSmith. Keep up the good work! I look forward to viewing more videos from you!
thanks Henry!
Thanks for putting this out there for people. Schwab charts don't allow these mods (that I can tell), but I calculate the Webby RSI every day on the side. All props to Mike Webster. Sorry to see him leave IBD and the public sphere....
Thanks Charlie! I'll also miss his expertise
Great Job, I got the graph set in less than 5. Thank you.
Glad it helped!
Awesome... thanks to you and the creator Mike Webster
No problem rahul
Thanks Richard for the content!
My pleasure!
Thanks for sharing and make it simple to understand. Great as always!
Glad it helped!
Superb indicator. Thank you, Richard.
No problem, it's all Mike Webster
Love the video as always, great content, if your looking for another similar video Idea you could use Mike Webster registration lines he places on the NASDAQ chart to show the trend and breakin of trend and how he decides and places the anchors to set the registration lines, along with setup in trade station and TC2000. Just my thought, keep the great content coming!
Thanks Jim for the suggestion. I hope you are doing well!
Thanks. Great information.
Glad it was helpful!
Richard, Thanks for sharing this great video!
Good! It doesn't seem to be showing up for everyone?
here are the codes just in case: docs.google.com/document/d/1NaOd82MjCn9O9qvP3lUp3m5R8hVDLGv9dtIa09RdNLA/edit#
Great job Richard and Thank You!
My pleasure James!
Hey Richard, I have a suggestion, can you make a video on trading journals and spreadsheets and maybe how to make them?
Thanks Richard. It's little unclear to me if webby is helpful for growth stocks in any way or if this construct is mainly used for general market assessment? thx (I miss Webster's kind of geeky reviews of the market. Watching him on the weekend made me feel more confident. )
Same tony, it was great to learn from webby on IBDlive. I think you can apply the same type of logic to growth stocks, the danger zones percentages would be different but still you can look for extremely high values as a tell that the stock is getting extended from it's 21 ema and could see a pullback
Great video...as usual. Thank You.
Thanks for watching Laurent!
Richard Strength Indicator == will check it out this is great one
Haha thanks Prasad, It's all Mike Websters creation
do you know why webster used the low of the day instead of the close for this indicator? there is a huge difference in signals. Also, is there a purpose of the 10 day sma? Another item for TC2000, is that in order to get only the top 1/2 of the histogram, you need to edit the scaling using "scale method" 0 to Max and make sure each % (.5-6) is scaled to the Webby RSI
Thank you. This is great
You’re welcome!
Thank you so much!
You're welcome!
Thank you, very nice,
No problem!
IBD live is/was very good. About once a week, Mike would give a trade that would be great that day. How did he do that ?
He's a great trader, he does his homework and watches the stops that are getting ready to go.
Hi Richard, thank you for all the great content you have shared. Your videos have given me the confidence I needed to start trading. What broker would you recommend for a swing trader in Canada or South America (Ecuador)?
Thanks for another great video! Added to TradingView just fine. TC2000 everything looks right, EXCEPT mine is also displaying downward pointing bars where the price was below the 21 ema. How do I make that part disappear? thanks!
Thanks Leo, change the scaling in tc2000 to 0 to max
@@RichardMoglen I tried that in tc2000 under scaling but dont have that option?? Just Arth, Log and Locked Log?
@@sunilbawa4775 right click on the name of the indicator and choose scaling there in the drop down.
hey richard..is there a webby rsi for think or swim??
Richard, thanks. How did you get the indicator to not show negative values in TC2000?
Never mind...I see you answered below.. Thanks
Mike just quit IBD. What now ?
We persevere and keep watching his old content.
Sucks mike is leaving ibd
I'll miss his expertise for sure