Psychological Line (PSY)
Overview
The Psychological Line (PSY) is based on the presumption that people will resist paying more for a share than others, unless of course the share continues to move up. Conversely, people resist selling a share for less than the price others have been getting for it, except if the price continues to decline. Finally, people who purchase the stock at the top of a trading range will tend to wait until the price comes back before they get out.
Mathematical description of the indicator: PSY Mathematical Description.
Adding Indicator
The PSY indicator is added using the psy() method. It requires a mapping with one field: "value" (or "close"):
// create data table on loaded data
var dataTable = anychart.data.table();
dataTable.addData(get_csco_daily_data());
// map loaded data
var mapping = dataTable.mapAs({"open": 1, "high": 2, "low": 3, "close": 4});
// create a stock chart
var chart = anychart.stock();
// create the first plot on the chart
var plot_0 = chart.plot(0);
// create an ohlc series
var ohlcSeries = plot_0.ohlc(mapping);
ohlcSeries.name('CSCO');
// create the second plot on the chart
var plot_1 = chart.plot(1);
// create a PSY indicator
var psy = plot_1.psy(mapping);
Here is a live sample:
Indicator Parameters
The PSY indicator has the following parameters:
- mapping (required)
- period
- series type
This code sample shows how to create a PSY indicator with default parameters:
var psy = plot.psy(mapping, 20, "line");
Visualization
Vizualization of an indicator depends on the type of a series you display it with. Here is a sample where Psychological Line indicators with different parameters and settings are added to different plots:
// create and adjust a PSY indicator
var psy_1 = plot_1.psy(mapping, 15, "area").series();
psy_1.stroke("0.5 gray");
psy_1.fill("#ffd54f");
// create and adjust a PSY indicator
var psy_2 = plot_2.psy(mapping, 25, "column").series();
psy_2.stroke("0.5 lightGray");
psy_2.fill("#ff6d00");
Live sample: