OPEN-SOURCE SCRIPT
TrendVista Swing Indicator
Overview
The swing indicator is designed to offer traders a comprehensive analysis of market trends and volatility by integrating Bollinger Bands and the Average True Range (ATR). It aids in the visualization of price movements and volatility across multiple time frames, thereby providing insights into potential buy and sell opportunities.
Key Features
- Multitimeframe Analysis: By default, the indicator examines the market across the following time frames: 1 Day (1D), 4 Hours (4H), 1 Hour (1H), and 15 Minutes (15min). Users have the flexibility to modify these time frames to suit their trading strategy by adjusting the indicator's settings.
- Buy and Sell Timings: The indicator identifies optimal buy signals when the price drops below the lower Bollinger Band and subsequently re-enters the band's range. Additionally, a buy signal is generated during high volatility periods—signified by the ATR exceeding its 10-day average—helping traders spot potential liquidation points. Sell signals are tailored for traders looking to exit long positions rather than for initiating short positions.
- Bollinger Bands Phases: The indicator categorizes the market condition into three phases based on Bollinger Bands movement:
- Neutral Phase: When the closing price is within the Bollinger Bands' upper and lower limits.
- Bullish Phase: Signaled by the price closing above the upper Bollinger Band, suggesting an upward trend until the price closes below the middle band.
- Bearish Phase: Initiated when the price closes below the lower Bollinger Band, indicating a downtrend until the price closes above the middle band.
Users can opt to exclude the neutral phase from the analysis through the indicator's settings for a more focused view on bullish or bearish trends.
Indicator Customization
The swing indicator is versatile, allowing users to customize the time frames and phase visibility according to their preferences. This feature ensures that traders can tailor the indicator to match their specific analysis needs and trading strategies.
Considerations
- The signals provided by the swing indicator are not symmetrically designed for both buy and sell actions. The indicator primarily optimizes for identifying long positions, particularly in bull markets. The sell signals are intended for exiting existing long positions rather than for short selling.
The swing indicator is designed to offer traders a comprehensive analysis of market trends and volatility by integrating Bollinger Bands and the Average True Range (ATR). It aids in the visualization of price movements and volatility across multiple time frames, thereby providing insights into potential buy and sell opportunities.
Key Features
- Multitimeframe Analysis: By default, the indicator examines the market across the following time frames: 1 Day (1D), 4 Hours (4H), 1 Hour (1H), and 15 Minutes (15min). Users have the flexibility to modify these time frames to suit their trading strategy by adjusting the indicator's settings.
- Buy and Sell Timings: The indicator identifies optimal buy signals when the price drops below the lower Bollinger Band and subsequently re-enters the band's range. Additionally, a buy signal is generated during high volatility periods—signified by the ATR exceeding its 10-day average—helping traders spot potential liquidation points. Sell signals are tailored for traders looking to exit long positions rather than for initiating short positions.
- Bollinger Bands Phases: The indicator categorizes the market condition into three phases based on Bollinger Bands movement:
- Neutral Phase: When the closing price is within the Bollinger Bands' upper and lower limits.
- Bullish Phase: Signaled by the price closing above the upper Bollinger Band, suggesting an upward trend until the price closes below the middle band.
- Bearish Phase: Initiated when the price closes below the lower Bollinger Band, indicating a downtrend until the price closes above the middle band.
Users can opt to exclude the neutral phase from the analysis through the indicator's settings for a more focused view on bullish or bearish trends.
Indicator Customization
The swing indicator is versatile, allowing users to customize the time frames and phase visibility according to their preferences. This feature ensures that traders can tailor the indicator to match their specific analysis needs and trading strategies.
Considerations
- The signals provided by the swing indicator are not symmetrically designed for both buy and sell actions. The indicator primarily optimizes for identifying long positions, particularly in bull markets. The sell signals are intended for exiting existing long positions rather than for short selling.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.