Goldmine Wealth BuilderGoldmine Wealth Builder
Version 1.0
Discover the Goldmine Wealth Builder, your ultimate partner in long-term investing. With a comprehensive array of strategies meticulously tailored to suit the varied needs and preferences of investors, we empower you to achieve your financial goals with confidence and ease. Whether you're seeking stability or growth, our platform is designed to provide personalized solutions that align perfectly with your aspirations. Welcome to a world of opportunity and prosperity with Goldmine Wealth Builder.
Long-Term Investment Strategies: DKK, SKK and SKK2
In the dynamic realm of long-term investing, the DKK, SKK, and SKK2 strategies stand as valuable pillars. These strategies, meticulously designed to assist investors in building robust portfolios, combine the power of Super Trend, RSI (Relative Strength Index), Exponential Moving Averages (EMAs), and their crossovers. By providing clear alerts and buy signals on a daily time frame, they equip users with the tools needed to make well-informed investment decisions and navigate the complexities of the financial markets. These strategies offer a versatile and structured approach to both conservative and aggressive investment, catering to the diverse preferences and objectives of investors.
Each part of this strategy provides a unique perspective and approach to the accumulation of assets, making it a versatile and comprehensive method for investors seeking to optimize their portfolio performance. By diligently applying this multi-faceted approach, investors can make informed decisions and effectively capitalize on potential market opportunities.
DKK Strategy for ETFs:
The DKK system is a strategy designed for accumulating only ETFs as long-term investments in your portfolio. It simplifies the process of identifying trend reversals and opportune moments to invest in listed ETFs, particularly during bull markets. Here's a detailed explanation of the DKK system:
Objective: The primary aim of the DKK system is to build a long-term investment portfolio by focusing on only ETFs. It facilitates the identification of ETFs that are in the process of reversing their trends, allowing investors to benefit from upward price movements in these financial instruments.
ETFs Selection Criteria: The DKK system employs specific criteria for selecting ETFs:
• 200EMA (Exponential Moving Average): The system monitors whether the prices of ETFs are consistently below the 200-day Exponential Moving Average. This is considered an indicator of weakness, especially on a daily time frame.
• RSI (Relative Strength Index): The system looks for an RSI value of less than 40. An RSI below 40 is often seen as an indication of a weak or oversold condition in a financial instrument.
Alert Signal: Once the DKK system identifies ETFs meeting these criteria, it provides an alert signal:
• Red Upside Triangle Sign: This signal is automatically generated on the daily chart of only ETFs. It serves as a clear indicator to investors that it's an opportune time to accumulate these financial instruments for long-term investment.
It's important to note that the DKK system is specifically designed for ETFs only, so it should be applied to these types of investments. Additionally, it's recommended to track index ETFs, in line with the DKK system's approach. This strategy simplifies the process of identifying investment opportunities within this asset class, particularly during periods of market weakness.
SKK Strategy for Conservative Stock Investment:
The SKK system is a stock investment strategy tailored for conservative investors seeking long-term portfolio growth with a focus on stability and prudent decision-making. This strategy is meticulously designed to identify pivotal market trends and stock price movements, allowing investors to make informed choices and capitalize on upward market trends while minimizing risk. Here's a comprehensive overview of the SKK system, emphasizing its suitability for conservative investors:
Objective: The primary objective of the SKK system is to accumulate stocks as long-term investments in your portfolio while prioritizing capital preservation. It offers a disciplined approach to pinpointing potential entry points for stocks, particularly during market corrections and trend reversals, thereby enabling you to actively participate in bullish market phases while adopting a conservative risk management stance.
Stock Selection Criteria: The SKK system employs a stringent set of criteria to select stocks for investment:
• Correction Mode: It identifies stocks that have undergone a correction, signifying a decline in stock prices from their recent highs. This conservative approach emphasizes the importance of seeking stocks with a history of stability.
• 200EMA (Exponential Moving Average): The system diligently analyses daily stock price movements, specifically looking for stocks that have fallen to or below the 200-day Exponential Moving Average. This indicator suggests potential overselling and aligns with a conservative strategy of buying low.
Trend Reversal Confirmation: The SKK system doesn't merely pinpoint stocks in correction mode; it takes an extra step to confirm a trend reversal. It employs the following indicators:
• Short-term Downtrends Reversal: This aspect focuses on identifying the reversal of short-term downtrends in stock prices, observed through the transition of the super trend indicator from the red zone to the green zone. This cautious approach ensures that the trend is genuinely shifting.
• Super Trend Zones: These zones are crucial for assessing whether a stock is in a bullish or bearish trend. The system consistently monitors these zones to confirm a potential trend reversal.
Alert & Buy Signals: When the SKK system identifies stocks that have reached a potential bottom and are on the verge of a trend reversal, it issues vital alert signals, aiding conservative investors in prudent decision-making:
• Orange Upside Triangle Sign: This signal serves as a cautious heads-up, indicating that a stock may be poised for a trend reversal. It advises investors to prepare funds for potential investment without taking undue risks.
• Green Upside Triangle Sign: This is the confirmation of a trend reversal, signifying a robust buy signal. Conservative investors can confidently enter the market at this point, accumulating stocks for a long-term investment, secure in the knowledge that the trend is in their favour.
• Additionally, if the Supertrend transitions from green to red zone during the alert signal is active and before the buy signal, the SKK setup will be considered invalid. This adjustment ensures precise trend reversal identification during corrections. The conservative investors to confidently enter the market, accumulating discounted stocks primarily at the bottom while avoiding unnecessary signals.
In summary, the SKK system is a systematic and conservative approach to stock investing. It excels in identifying stocks experiencing corrections and ensures that investors act when there's a strong indication of a trend reversal, all while prioritizing capital preservation and risk management. This strategy empowers conservative investors to navigate the intricacies of the stock market with confidence, providing a calculated and stable path toward long-term portfolio growth.
Note: The SKK strategy, known for its conservative approach to stock investment, also provides an option to extend its methodology to REIT (Real Estate Investment Trusts) and INVIT (Infrastructure Investment Trusts) Funds for those investors who wish to accumulate assets more aggressively. You can harness the SKK strategy's careful criteria and signal indicators to accumulate aggressive investments in REIT and INVIT Funds.
This flexible approach acknowledges that even within a conservative strategy, there may be opportunities for more assertive investments in assets like REIT and INVIT Funds. By making use of this option, you can strike a balance between a conservative stance in your stock portfolio while exploring an aggressive approach in other asset classes. It offers the versatility to cater to a variety of investment preferences, ensuring that you can adapt your strategy to suit your financial goals and risk tolerance.
SKK 2 Strategy for Aggressive Stock Investment:
The SKK 2 strategy is designed for those who are determined not to miss significant opportunities within a continuous uptrend and seek a way to enter a trend that doesn't present entry signals through the SKK strategy. While it offers a more aggressive entry approach, it is ideal for individuals willing to take calculated risks to potentially reap substantial long-term rewards. This strategy is particularly suitable for accumulating stocks for aggressive long-term investment. Here's a detailed description of the SKK 2 strategy:
Objective: The primary aim of the SKK 2 strategy is to provide an avenue for investors to identify short-term trend reversals and seize the opportunity to enter stocks during an uptrend, thereby capitalizing on a sustained bull run. It acknowledges that there may not always be clear entry signals through the SKK strategy and offers a more aggressive alternative.
Stock Selection Criteria: The SKK 2 strategy utilizes a specific set of criteria for stock selection:
1. 50EMA (Exponential Moving Average): It targets stocks that are trading below the 50-day Exponential Moving Average. This signals a short-term reversal from the top and indicates that the stock is in a downtrend.
2. RSI (Relative Strength Index): The strategy considers stocks with an RSI of less than 40, which is an indicator of weakness in the stock.
Alert Signals: The SKK 2 strategy provides distinct alert signals that facilitate entry during an aggressive reversal:
• Orange Downside Triangle Sign: This signal is triggered when the stock is below the 50EMA and has an RSI of less than 40. It serves as a clear warning of a short-term reversal from the top and a downtrend, displayed on the daily chart.
• Purple Upside Triangle Sign: This sign is generated when a reversal occurs through a bullish candle, and the RSI is greater than 40. It signifies the stock has bottomed out from a short-term downtrend and is now reversing. This purple upside triangle serves as an entry signal on the chart, presenting an attractive opportunity to accumulate stocks during a strong bullish phase, offering a chance to seize a potentially favourable long-term investment.
In essence, the SKK 2 strategy caters to aggressive investors who are willing to take calculated risks to enter stocks during a continuous uptrend. It focuses on identifying short-term reversals and provides well-defined signals for entry. While this strategy is more aggressive in nature, it has the potential to yield substantial rewards for those who are comfortable with a higher level of risk and are looking for opportunities to build a strong long-term portfolio.
Introduction to Strategy Signal Information Chart
This chart provides essential information on strategy signals for DKK, SKK, and SKK2. By quickly identifying "Buy" and "Alert" signals for each strategy, investors can efficiently gauge market conditions and make informed decisions to optimize their investment portfolios.
RSI Feature:
The Relative Strength Index (RSI) value is displayed on the indicator status line, providing quick reference and analysis for more informed decision-making. Explore this update to enhance your strategy with RSI trends. Alternatively, leverage RSI as a reference, a feature extensively utilized in both DKK and SKK2 strategies.
In Conclusion
These investment strategies, whether conservative like DKK and SKK or more aggressive like SKK2, offer a range of options for investors to navigate the complex world of long-term investments. The combination of Super Trend, RSI, and EMAs with their crossovers provides clear signals on a daily time frame, empowering users to make well-informed decisions and potentially capitalize on market opportunities. Whether you're looking for stability or are ready to embrace more risk, these strategies have something to offer for building and growing your investment portfolio.
In essence, with the Goldmine Wealth Builder, investors alike can access a comprehensive toolkit designed to unlock their financial potential and achieve their investment goals.
We appreciate your understanding and remain committed to providing a clear and focused investment tool. For any inquiries or feedback, feel free to reach out.
Educational
Sessions Lite [TradingFinder] New York, London, Asia, NYSE Forex🔵 Introduction
A trading session is one of the basic concepts in the financial market that refers to specific time periods. In fact, a session means hours during the day and night, during which traders in a certain part of the world conduct their transactions.
Although the "Forex" and "CFDs" market is open 24 hours a day and it is possible to trade in it, but in some hours the activity in this market decreases so much that many traders prefer not to trade and only watch the market. On the other hand, there are specific times when the market is very busy and dynamic, and many traders tend to trade during these hours of the day and night.
Trading sessions are usually divided into three main categories, which are "Asian", "European" and "North American" sessions. These trading sessions are also called the "Tokyo", "London" and "New York" sessions, respectively. But they also categorized these sessions in more detailed ways such as "Sydney session", "Shanghai session" or "NYSE session".
🔵 Tokyo trading session (Asian session)
After the weekend that happens on Saturday and Sunday, the Forex market starts with the Asian session. In this continent, most of the transactions are done in the Tokyo session, and for this reason, it is usually called the Asian session or the Tokyo session. However, other countries such as Australia, China and Singapore also do a lot of trading in this session.
The Tokyo session has a lower volume of transactions compared to the London and New York sessions, and therefore the liquidity is lower. In this session, most of the Forex currency pairs move in a price range. For this reason, different people use the ups and downs with the trading strategy in the range and get profit.
The low liquidity of the Tokyo session means that trading spreads are also higher during these hours. Besides, most of the transactions of this session are done in the early hours and at the same time as the planned news release.
In the Tokyo or Asia session, the best currency pairs to trade are the "Japanese yen", the "Australian dollar", and the "New Zealand dollar".
"Nikkei" index is also a good option for trading. If you trade in the Tokyo session, you should also be aware of the release of economic news and data from Australian, New Zealand and Japanese financial institutions.
🔵 London trading session (European session)
After the Asian session, it is time for the European session. In this period of time, transactions are very large and many European markets are involved. However, the European session is usually known as the London session.
Because of its specific time zone, London is not only known as the Forex trading center in Europe, but it is also known as the Forex trading center in the world. The London session overlaps with two other major trading sessions in the world, Asia and America. This means that most of the Forex transactions are done in this session. According to the latest statistics, 32% of Forex transactions are related to the London session, which shows that about a third of the activity performed in Forex takes place during this period.
This will increase the volume of Forex transactions and increase liquidity. An event that causes the spread of transactions to decrease. Of course, high liquidity also leads to greater volatility, which is desirable for many traders.
In the European session, the pound and euro currencies and the "DAX", "FTSE100", and "CAC40" indices are known as the best tradable assets. Also, traders of this session should pay attention to the news and data published by the "European Central Bank" and the "Bank of England". The news of countries like Germany, France and Italy are also very important.
🔵 American trading session (New York session)
When the New York session begins, several hours have passed since the end of the Tokyo session, but the European session is in the middle. In this session, they usually affect the financial activities carried out in America, but they also affect other countries such as Canada, Mexico and several South American countries.
The "US dollar" and stock indices such as "S&P", "Dow Jones" and "Nasdaq" are the most important assets that are traded in this session.
The early hours of the American session have a lot of liquidity and volatility due to the overlap with the European session, but with the end of the European session, the activity in the American session also decreases.
You can trade all major Forex currency pairs in the New York trading session. In this session, the "Federal Reserve", as the most important central bank in the world, is the institution that you should pay attention to its news and data.
The trading session indicator is an analytical tool in the financial markets that is used to display and analyze specific trading periods during a day. These indicators are generally useful for determining support and resistance levels during any trading session and for detecting different trading patterns.
For example, usually these indicators display the open and close price levels, the highest and lowest prices during a trading session. Also, you may notice various price patterns such as price channels, price phase phases and market trend changes during different trading sessions using these indicators.
🔵 cause of construction
In particular, the session light indicator version is designed and built for those traders who use many different tools on their chart at the same time. These traders can include "Volume Traders", "ICT traders", "Day Traders" and... These individuals can use "Session Lite" without disturbing the display of their other trading tools such as "Order Blocks", "Liquidity", "Zigzag", "FVG" etc.
But in general, there are several reasons for making tools like trading session indicators in financial markets, some of which include the following :
1. Analysis of specific time frames : Some traders and investors like to consider specific time frames for price analysis and review. For example, analyzing price changes during each trading session can help analyze trading patterns and identify trading opportunities.
2. Recognize different price patterns : Different price patterns may be observed during trading sessions. Trading session indicators can help to make better trading decisions by analyzing these patterns and their strengths and weaknesses.
3. Identifying Support and Resistance Levels : These tools may help to identify support and resistance levels during any trading session which can be helpful in deciding whether to enter or exit the market.
🔵 How to use
The Session Lite indicator displays 8 sessions by default. Asia session, Sydney session, Tokyo session, Shanghai session, Europe session, London session, New York session and New York Stock Exchange (NYSE) session are the sessions that are displayed.
You can activate or deactivate the display of each session by using the tick button next to the name of each session.
Two gray vertical dashes are also displayed by default, which indicate the beginning of the European session and the New York session. This feature is available for all sessions, but it is enabled by default only for these two sessions, and you can activate it for the rest of the session. You can enable or disable the display of this line by using the Start Session tick key.
Likewise, the information table is displayed by default, which includes the open or closed information of each session and the start and end times of each session. These timings are based on the UTC time zone.
Accordingly, the schedule of trading sessions is as follows :
Asia session from 23:00 to 06:00
Sydney session from 23:00 to 05:00
Tokyo session from 00:00 to 00:06
Shanghai session from 01:30 to 06:57
European session from 07:00 to 16:30
London session from 08:00 to 16:30
New York session from 13:00 to 22:00
New York Stock Exchange (NYSE) session from 14:30 to T 22:00
Important note : the beginning of the European session coincides with the opening of the Frankfurt market.
🔵 Settings
• In the settings section, there are customization capabilities according to the type of use of each user. The settings related to showing or not showing the box of each session, the start indicator of each session, setting the start and end time of the session and choosing the desired color to display each session are among the things that can be set from this section.
• At the end of the settings, you will see the "Info Table" option; By disabling this option, the "sessions" clock table displayed on the upper right side will be disabled.
Custom Hourly Highlight PeriodsThis Pine Script indicator for TradingView allows users to visually highlight up to five distinct periods within a trading day directly on their chart. It's designed to enhance chart analysis by emphasizing specific time frames that may coincide with increased market activity, trading sessions, or personal trading strategies.
Features:
Customizable Highlight Periods: Users can define up to five separate highlight periods, specifying both start and end hours for each. This flexibility supports a wide range of trading strategies and time zones.
Individual Period Activation: Each highlight period can be individually enabled or disabled, allowing users to focus on specific times of interest without cluttering the chart.
Color-Coded Visualization: Each period is highlighted with a different transparent color (blue, red, green, purple, and orange) for clear distinction between different segments of the trading day. Colors are customizable to fit personal preferences or chart themes.
User-Friendly Inputs: Simple input fields make it easy to adjust start/end times and toggle the visibility of each period, requiring no coding experience to customize.
Use Cases:
Identifying Repeating Patterns: Certain regional markets exhibit unique behaviors, with some creating sell pressure in the morning, while others generate buy pressure. This indicator allows for clear visualization of these patterns.
Market Session Highlights: Emphasize the opening and closing hours of major markets (e.g., NYSE, NASDAQ, Forex markets) to identify potential volatility or trading opportunities.
Personal Trading Hours: Mark the time frames when you typically trade or when your trading strategy performs best.
Economic Release Times: Highlight periods when important economic reports are released, which can significantly impact market movement.
Global Liquidity Index (Candles)The Global Liquidity Index (Candles) provides a comprehensive overview of major central bank balance sheets worldwide, presenting values converted to USD for consistency and comparability, following relevant forex rates. This indicator, based on the code developed by user ingeforberg , incorporates essential US accounts including the Treasury General Account (TGA) and Reverse Repurchase Agreements (RRP), subtracted from the Federal Reserve's balance sheet to offer a nuanced perspective on US liquidity. Users can tailor their analysis by selectively enabling or disabling specific central banks and special accounts according to their preferences. The index exclusively includes central banks abstaining from currency pegging and with reliable data accessible since late 2007, ensuring a robust aggregated liquidity model.
The calculation of the Global Liquidity Index involves subtracting the Treasury General Account (TGA) and Reverse Repurchase Agreements (RRP) from the Federal Reserve System (FED) and adding the balance sheets of major central banks worldwide: the European Central Bank (ECB), the People's Bank of China (PBC), the Bank of Japan (BOJ), the Bank of England (BOE), the Bank of Canada (BOC), the Reserve Bank of Australia (RBA), the Reserve Bank of India (RBI), the Swiss National Bank (SNB), the Central Bank of the Russian Federation (CBR), the Central Bank of Brazil (BCB), the Bank of Korea (BOK), the Reserve Bank of New Zealand (RBNZ), Sweden's Central Bank (Riksbank), and the Central Bank of Malaysia (BNM).
This tool proves invaluable for individuals seeking a consolidated perspective on global liquidity to interpret macroeconomic trends. Analyzing these balance sheets enables users to discern policy trajectories and assess the global economic landscape, providing insights into asset pricing and assisting investors in making well-informed capital allocation decisions. Historically, assets perceived as riskier, such as small caps and cryptocurrencies, have tended to perform favorably during periods of escalating liquidity. Thus, investors may exercise caution regarding additional risk exposure unless a sustained upward trend in global liquidity is evident.
Main differences between the original and updated indicators:
The "Global Liquidity Index (Candles)" script, compared to the original "Global Liquidity Index" script, offers a more detailed and visually rich representation of liquidity data.
"Global Liquidity Index (Candles)" employs candlestick visualization to represent liquidity data. Each candlestick encapsulates open, high, low, and close prices over a given period. This format provides granular insights into liquidity fluctuations, facilitating a more nuanced analysis.
By using candlesticks, the script offers traders detailed information about liquidity dynamics. They can analyze the patterns formed by candlesticks to discern trends, reversals, and market sentiment shifts, aiding in making informed trading decisions.
Moving Average PropertiesThis indicator calculates and visualizes the Relative Smoothness (RS) and Relative Lag (RL) or call it accuracy of a selected moving average (MA) in comparison to the SMA of length 2 (the lowest possible length for a moving average and also the one closest to the price).
Median RS (Relative Smoothness):
Interpretation: The median RS represents the median value of the Relative Smoothness calculated for the selected moving average across a specified look-back period (max bar lookback is set at 3000).
Significance: A more negative (larger) median RS suggests that the chosen moving average has exhibited smoother price behavior compared to a simple moving average over the analyzed period. A less negative value indicates a relatively choppier price movement.
Median RL (Relative Lag):
Interpretation: The median RL represents the median value of the Relative Lag calculated for the selected moving average compared to a simple moving average of length 2.
Significance: A higher median RL indicates that the chosen moving average tends to lag more compared to a simple moving average. Conversely, lower values suggest less lag in the selected moving average.
Ratio of Median RS to Median RL:
Interpretation: This ratio is calculated by dividing the median RS by the median RL.
Significance: Traders might use this ratio to assess the balance between smoothness and lag in the chosen moving average. This a measure of for every % of lag what is the smoothness achieved. This can be used a benchmark to decide what length to choose for a MA to get an equivalent value between two stocks. For example a TESLA stock on a 15 minute time frame with a length of 12 has a value (ratio of RS/RL) of -150 , where as APPLE stock of length 35 on a 15 minute chart also has a value (ratio of RS/RL) of -150.
I imply that a MA of length 12 working on TESLA stock is equivalent to MA of length 35 on a APPLE stock. (THIS IS A EXAMPLE).
My assumption is that finding the right moving average length for a stock isn't a one-size-fits-all situation. It's not just about using a fixed length; it's about adapting to the unique characteristics of each stock. I believe that what works for one stock might not work for another because they have different levels of smoothness or lag in their price movements. So, instead of applying the same length to all stocks, I suggest adjusting the length of the moving average to match the values that we know work best for achieving the desired smoothness or lag or its ratio (RS/RL). This way, we're customizing the indicator for each stock, tailoring it to their individual behaviors rather than sticking to a one-size-fits-all approach.
Users can choose from various types of moving averages (EMA, SMA, WMA, VWMA, HMA) and customize the length of the moving average. RS measures the smoothness of the MA, while RL measures its lag compared to a simple moving average. The script plots the median RS and RL values, the selected MA, and the ratio of median RS to median RL on the price chart. Traders can use this information to assess the performance of different moving averages and potentially inform their trading decisions.
Interest Bricks @shrilssInterest Bricks utilize a unique approach to visualize changes in interest over time. It calculates the difference between the current and previous values of a specified asset's closing price on a daily basis. The resulting value indicates whether there has been an increase, decrease, or no change in interest.
This indicator employs a sine wave plot to represent the trend of interest changes. Positive values of the sine wave indicate increasing interest, while negative values denote decreasing interest. The color of the plot dynamically changes based on the direction of the trend: lime for upward trends and red for downward trends.
Word PuzzleWord Puzzle is a PineScript-based clone of the popular daily puzzle game called "Wordle".
It is not identical, but the general gameplay is the same.
>How It works (The Game)
A secret word (also referred to as the "target word") is randomly selected from a database of 5 Letter words.
The player/user's goal is to guess that word within 6 attempts.
After each guess, the script provides information to the user by color coding the letters of their guess.
Green (Known Letters): These letters are in the exact spot that they occur in the target word.
Yellow (Included Letters): These letters are included in the target word; however, the user does not have them in the correct position.
Gray (Un-used Letters): These letters do not occur anywhere in the target word
>Interface
On each turn the user will input their 5 letter guess into the "Guess #" box and submit it by checking the check-box next to the word.
If the input word is invalid, the script will prompt you. Invalid words are any words not found within the script's valid word list.
After guess 3, hints may be viewed by hovering over the "Need a Hint" box on the display.
If you are unable to guess the word in the given amount of guesses, the 'Game Over' screen will display, and you will be able to view the answer in the same box as the hints.
To start a new game, clear all inputs and insert a different number into the "Puzzle Seed" input, to have the script randomly select a new word.
NOTE: Word selection based on the seed number is deterministic, the same seed number will always have the same puzzle word.
>Additional Information
The script comes equipped with 5 different themes as seen below.
Table size is also selectable.
This indicator makes use of 'tooltips'.
Hover over the boxes on the table for quick reference information or additional information on prompts.
Since the script randomly selects from the ENTIRE valid word list you are bound to come across some obscure words with strange spellings.
Because of this, I have built in a "quick way out".
To end a game without filling out all guesses, submit the answer "Give Up" to skip to the end screen where you can reveal the puzzle's answer.
Afterwards, take a second to look up the definition! Ever heard of a xylyl?!
The code is fully notated. Most of the script involves string management, but there are still some neat tricks in here as well.
Enjoy!
GG - LevelsThe GG Levels indicator is a tool designed for day trading U.S. equity futures. It highlights key levels intraday, overnight, intermediate-swing levels that are relevant for intraday futures trading.
Terminology
RTH (Regular Trading Hours): Represents the New York session from 09:30 to 17:00 EST.
ON Session (Overnight Session): Represents the trading activity from 17:00 to 09:29 EST.
IB (Initial Balance): The first hour of the New York session, from 09:30 to 10:30 EST.
Open: The opening price of the RTH session.
YH (Yesterday's High): The highest price during the RTH session of the previous day.
YL (Yesterday's Low): The lowest price during the RTH session of the previous day.
YC (Yesterday's Close): The daily bar close which for futures gets updated to settlement.
IBH (Initial Balance High): The highest price during the IB session.
IBL (Initial Balance Low): The lowest price during the IB session.
ONH (Overnight High): The highest price during the ON session.
ONL (Overnight Low): The lowest price during the ON session.
VWAP (Volume-Weighted Average Price): The volume-weighted average price that resets each day.
Why is RTH Important?
Tracking the RTH session is important because often times the overnight session can be filled with "lies". It is thought that because the overnight session is lower volume price can be pushed or "manipulated" to extremes that would not happen during higher volume times.
Why is the ON Session Important Then?
Just because the ON session can be thought as a "lie" doesn't mean it is relevant to know. For example, if price is stuck inside the ON range then you can think of the market as rotational or range-bound. If price is above the ON range then it can be thought of as bullish. If price is below the ON range then it can be thought as bearish.
What is IB?
IB or initial balance is the first hour of the New York Session. Typically the market sets the tone for the day in the first hour. This tone is similarly a map like the ON session. If we are above the IBH then it is bullish and likely a trend day to the upside. If we are below the IBL then it is bearish and likely a trend day to the downside. If we are in IB then we want to avoid conducting business in the middle of IBH and IBL to avoid getting chopped up in a range bound market.
These levels are not a holy grail
You should use this indicator as guide or map for context about the instrument you are trading. You need to combine your own technical analysis with this indicator. You want as much context confirming your trade thesis in order to enter a trade. Simply buying or selling because we are above or below a level is not recommended in any circumstance. If it were that easy I would not publish this indicator.
Adjustments
In the indicator settings you can adjust the RTH, ON, and IB session-time settings. All of the times entered must be in EST (Eastern Standard Time). You may want to do this to apply the levels to a foreign market.
Examples
Bandwidth Volatility - Silverman Rule of thumb EstimatorOverview
This indicator calculates volatility using the Rule of Thumb bandwidth estimator and incorporating the standard deviations of returns to get historical volatility. There are two options: one for the original rule of thumb bandwidth estimator, and another for the modified rule of thumb estimator. This indicator comes with the bandwidth , which is shown with the color gradient columns, which are colored by a percentile of the bandwidth, and the moving average of the bandwidth, which is the dark shaded area.
The rule of thumb bandwidth estimator is a simple and quick method for estimating the bandwidth parameter in kernel density estimation (KSE) or kernel regression. It provides a rough approximation of the bandwidth without requiring extensive computation resources or fine-tuning. One common rule of thumb estimator is Silverman rule, which is given by
h = 1.06*σ*n^(-1/5)
where
h is the bandwidth
σ is the standard deviation of the data
n is the number of data points
This rule of thumb is based on assuming a Gaussian kernel and aims to strike a balance between over-smoothing and under-smoothing the data. It is simple to implement and usually provides reasonable bandwidth estimates for a wide range of datasets. However , it is important to note that this rule of thumb may not always have optimal results, especially for non-Gaussian or multimodal distributions. In such cases, a modified bandwidth selection, such as cross-validation or even applying a log transformation (if the data is right-skewed), may be preferable.
How it works:
This indicator computes the bandwidth volatility using returns, which are used in the standard deviation calculation. It then estimates the bandwidth based on either the Silverman rule of thumb or a modified version considering the interquartile range. The percentile ranks of the bandwidth estimate are then used to visualize the volatility levels, identify high and low volatility periods, and show them with colors.
Modified Rule of thumb Bandwidth:
The modified rule of thumb bandwidth formula combines elements of standard deviations and interquartile ranges, scaled by a multiplier of 0.9 and inversely with a number of periods. This modification aims to provide a more robust and adaptable bandwidth estimation method, particularly suitable for financial time series data with potentially skewed or heavy-tailed data.
Formula for Modified Rule of Thumb Bandwidth:
h = 0.9 * min(σ, (IQR/1.34))*n^(-1/5)
This modification introduces the use of the IQR divided by 1.34 as an alternative to the standard deviation. It aims to improve the estimation, mainly when the underlying distribution deviates from a perfect Gaussian distribution.
Analysis
Rule of thumb Bandwidth: Provides a broader perspective on volatility trends, smoothing out short-term fluctuations and focusing more on the overall shape of the density function.
Historical Volatility: Offers a more granular view of volatility, capturing day-to-day or intra-period fluctuations in asset prices and returns.
Modelling Requirements
Rule of thumb Bandwidth: Provides a broader perspective on volatility trends, smoothing out short-term fluctuations and focusing more on the overall shape of the density function.
Historical Volatility: Offers a more granular view of volatility, capturing day-to-day or intra-period fluctuations in asset prices and returns.
Pros of Bandwidth as a volatility measure
Robust to Data Distribution: Bandwidth volatility, especially when estimated using robust methods like Silverman's rule of thumb or its modifications, can be less sensitive to outliers and non-normal distributions compared to some other measures of volatility
Flexibility: It can be applied to a wide range of data types and can adapt to different underlying data distributions, making it versatile for various analytical tasks.
How can traders use this indicator?
In finance, volatility is thought to be a mean-reverting process. So when volatility is at an extreme low, it is expected that a volatility expansion happens, which comes with bigger movements in price, and when volatility is at an extreme high, it is expected for volatility to eventually decrease, leading to smaller price moves, and many traders view this as an area to take profit in.
In the context of this indicator, low volatility is thought of as having the green color, which indicates a low percentile value, and also being below the moving average. High volatility is thought of as having the yellow color and possibly being above the moving average, showing that you can eventually expect volatility to decrease.
Asset Price Overlay @shrilssThis indicator allows traders to overlay multiple asset prices onto a single chart for easy comparison. By displaying the closing prices of different assets, users can quickly assess their performance relative to each other.
Key Features:
- Multiple Ticker Display: Users can select up to five different assets to display on the chart simultaneously.
- Customizable Label Positions: The script offers flexibility in choosing where to display the asset labels on the chart.
- Color Customization: Traders can customize the colors of the asset labels to suit their preferences.
Gamma ExposureOverview :
Gamma is part of the second order of greeks which measure the sensitivity of first order greeks (Delta) to changes in factors of the underlying. Using Gamma, traders can see the potential delta hedging activity by market makers. If market makers are long gamma, they will be buying as price decreases and selling as price increases, which acts as a stabilizing factor on the market. If they are short gamma, they are buying as price increases and selling as price decreases, which can further intensify volatility.
How it works/Calculations :
This indicator will bring the data from an outside source and will calculate Gamma from the Black-Scholes equation. Will take all the open contracts for the underlying and calculate Gamma exposure. A few assumptions will be made that may or may not be true, like making the assumptions that all open contracts were sold by the market maker. Although not perfect, will give an idea of where the market maker will be since the majority will be done by them.
The impact that Gamma has is dependent on different factors, such as open interest, time expiry, and volatility. The more open interest is at a strike that has near- term expiration date, the more likely is that the Gamma exposure will have an impact on the market. Gamma will work as a magnet and pins depending on strong levels.
In the settings, you can choose to see both calls and put Gamma levels or just see the delta, meaning the difference between the calls and the puts. Since this is based on open Interest of the options contracts and those update once a day, this indicator will update once a day as well to give the most current values.
Current equities available for the data :
1. Spx 2. Spy 3. QQQ 4. IWM, 5. AAPL 6. MSFT 7. NVDA 8. AMD 9. V 10. Crm 11. Meta 12. Goog 13. NFLX 14. Amzn 15. Tsla 16. HD 17. Low 18. TGT 19. Wmt 20. XOM 21. Cvx 22. JPM 23. AXP 24. GS 25. ABBV 26. Cat 27. DE 28. BA 29. Fdx 30. UPS 31. Shop 32. SQ 33. Abnb 34. Snow 35. Coin 36. Crwd 37. Uber 38. SBUX 39. ENPH
How to use :
You should not be using this indicator for entries or stop. This indicator will help you see where there are possible levels that will serve as magnets or rejections or where price can be pinned.
Pitfalls :
Gamma is one of the second order greeks, there are other greeks that can also affect movement by the market makers. Time to expiry, volatility and open interest impact gamma. We are calculating all open interest as the market maker being the originator of it. Large and elevated exposure in groups of strikes is more likely to be significant than individual smaller strikes.
Disclaimer:
This is still an indicator that in no way should be used alone.
The information contained in this script does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts are only for educational purposes!
Alternative LicensesHello fellow coders.
Sometimes the standard Mozilla Public license is not sufficient for the kind of scripts you want to publish so i have compiled a non-indicator script containing a list of visually appealing, alternative licenses by Creative Commons for everyone to choose and copy depending on your needs.
Please do not hesitate to comment in the public comment section if you have suggestions or queries or if you noticed any mistakes:-)
Alternative Licenses to be used at own discretion. (D.Y.O.R.)
RUBIX_BINARY cannot be held liable for any legal issues related to Creative Commons or the Licenses in this publication.
ICT Hydra MacrosThis indicator allows you to set a colored box at each time frame specified as Macro.
The purpose of this customizable color box is to be able to identify the start and end of the desired time frame, as well as the highest and lowest price during that time frame.
It also allows to place the schedule in numbers inside the box in order to quickly identify the painted time frame.
The indicator has up to 26 customizable boxes both in time frame and color. This allows to have different time frames that each Trader considers convenient for his strategy.
Settings:
General Settings:
Limit Days to Draw: Indicates the number of past days in which boxes will be drawn. Default value is 5 past days.
Timeframe Limit: Indicates the maximum time frame in which the boxes will be displayed. Default value is 5 minutes.
Timezone: Indicates the desired Timezone to calculate the schedules that will be configured later.
Macros Settings:
Show Macros Boxes: Enables or disables all boxes. It is enabled by default.
Display Text: Enables or disables all labels inside the boxes containing the time frame corresponding to the box. It is enabled by default.
Macros Transparency: Indicates the transparency percentage of the selected color for all boxes. By default it contains a value of 80% transparency.
Macro 1-26: Indicates the start time and end time, as well as the color of the individual box. Each Macro can be enabled or disabled individually. Note that the boxes of each Macro will be visible only if the "Show Macros Boxes" property is enabled. By default, there are specified certain Macros or time frames with a duration of 20 minutes, which are Manipulation or Expansion Macros that mentor Hydra has taught us based on the knowledge that ICT has provided for everyone.
The objective of this indicator is to provide a visual tool on the Macros or Time Frames in which the Trader can easily observe the desired schedule and which will automatically adjust according to the time and price on all 4 sides of the box.
Stablecoin Dominance [LuxAlgo]The Stablecoin Dominance tool displays the evolution of the relative supply dominance of major stablecoins such as USDT, USDC, BUSD, DAI, and TUSD.
Users can disable supported stablecoins to only show the supply dominance relative to the ones enabled.
🔶 USAGE
The stablecoin space is subject to constant change due to new arriving stablecoins, regulation, collapse of coins...etc.
Studying the evolution in supply dominance can help see the effect that certain events can have on the stablecoin sphere.
This dominance graph is displayed over the user price chart to easily observe the correlation between stablecoin dominances and market prices. Users can still move the tool to a new pane below if having it on the price chart is not desired.
🔶 DETAILS
Supported stablecoins include:
Tether (USDT)
USD Coin (USDC)
Binance USD (BUSD)
Dai (DAI)
TrueUSD (TUSD)
Supply dominance of a stablecoin is calculated by dividing the total supply of that stablecoin by the total supply of all enabled stablecoins. That is for N stablecoins:
sd(stablecoin A) = supply(stablecoin 1) / [supply(stablecoin 1) + supply(stablecoin 2) + supply(stablecoin 3) + ... + supply(stablecoin N)
🔹 Display
Users can control the fill style of the displayed areas, with "Gradient" enabled by default. Using "Solid" will use a solid color for each area:
This can improve the performance of the script.
Selecting "None" will not display areas.
🔶 SETTINGS
Fill Style: Fill style of the areas between each returned supply dominance. "Gradient" will color the areas using a gradient, while "Solid" will use a solid color.
Stablecoins List: List of stablecoins used for the supply dominance calculation, disabling one stablecoin will exclude it from all calculations.
UNICODE CHEAT SHEETHello fellow coders
This publication is not a indicator or a strategy but rather a quick reference guide for Unicode characters in Pine Code script format. It's purpose is to quickly identify and copy any desired characters to your own scripts.
Hope everyone finds this useful
Liquidation Longs/Shorts [UAlgo]🔶Description:
The "Liquidation Longs/Shorts " indicator is designed to identify potential liquidation levels for long and short positions. It calculates the distance of the selected price source (close, high, low, or open) from two moving averages (MA) and plots the resulting values on the chart. When the price is at an extreme distance from the moving averages, it suggests a potential liquidation point for either long or short positions.
🔶Key Features:
Liquidation Calculations: The indicator calculates the distance of the selected price source from two moving averages: a simple moving average (SMA) and an exponential moving average (EMA) with customizable lengths.
Color Customization: Users can customize the colors of the plotted columns representing the distance from the moving averages for long and short liquidation levels.
Liquidation Circles: The indicator marks potential liquidation levels with small circles on the chart, with customizable colors for long and short liquidations.
Orange Circles -> Identifies Potential Short Liquidations
Aqua Circles -> Identifies Potential Long Liquidations
Example:
Adaptive Source Selection: Traders can select the price source (close, high, low, or open) for liquidation calculations, allowing flexibility based on their trading strategies.
Dynamic Threshold Calculation: The indicator dynamically adjusts the liquidation threshold based on the selected moving average lengths, providing adaptability to changing market conditions.
Disclaimer:
Use with Caution: This indicator is provided for educational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
This indicator serves as a tool to assist traders in identifying potential liquidation levels, but it should be used in conjunction with other technical analysis tools and risk management practices for effective trading decision-making.
Time Based Comparison Tool [TFO]The goal of this indicator is to show how multiple assets are trading relative to their Previous Highs and Lows. Many traders have probably seen charts resembling this that may plot how asset prices are trading as a percent change over time, or something similar.
The key difference with this indicator is that all prices are normalized to reflect how they are trading with respect to the previous range of a user-defined timeframe. Without the normalization process, we would simply be observing some percent change from a given point in time; but this does not provide enough information to describe where price is trading relative to our desired frame of reference.
For example, if the timeframe setting was chosen to be 1 day, the indicator would plot the Previous High (PH) and Previous Low (PL) of the current symbol on the daily timeframe, denoted here by the black lines and labels. Then, the adjusted price of all selected symbols would be shown to visualize how each one is moving with respect its own PH and PL, using the current symbol's PH and PL as reference points.
In the above chart, we can see that CL was trading below its PDL from about 10:00-11:00 am EST, then broke above and retested it at around 11:20 am EST, before trading higher. To verify that this comparison works as intended, we can check to see that CL did in fact retest its PDL at this time before trading higher. Note that we are using the close price for this evaluation.
Since limiting the output to close prices can leave out some vital information, we can change the Plot Type setting from "Close" to "High to Low," which will instead show the range of prices from high to low instead of just the close.
We can expand on this by detecting when PH's and PL's have been raided (traded through), by displaying the text PHR (Previous High Raid) or PLR (Previous Low Raid) next to the symbol's label on the right. In this case below, where we're using the 1 week timeframe, we can observe that NQ1! (purple) traded through the PL level and thus its label (right) is updated to indicate a PLR.
Similarly, YM1! traded through its PH level and was updated to indicate a PHR; and ES1! raided both levels, with its label reflecting just that.
Due to the native limitation of output series in a single pine script, alerts have been consolidated to "Any PHR" or "Any PLR," meaning these alerts would fire if any of the selected symbols raided a PH or PL, respectively. If one wanted to be alerted for just a specific symbol, this could be achieved by deselecting all symbols except that which is desired, then setting an alert and adjusting its title for easier user recognition.
Volume Spike IndicatorHello dear traders,
Today we're discussing an indicator I've coded: the Volume Spike Indicator (VSI).
The indicator isn't a groundbreaking invention and certainly not a novelty. Nevertheless, I haven't seen this version of the indicator on TradingView before, so I'd like to introduce it.
1. The Origin of the Idea:
We're all familiar with volume charts: A volume chart visually represents the trading activity for a specific asset over a certain period, indicating the total number of shares or contracts traded.
We also know that volume spikes can significantly impact the market. A volume spike represents an extreme anomaly, a day, week, or month with an extraordinary amount of trading. However, recognizing these spikes in practice isn't always straightforward. What constitutes high volume? How do we define and identify it? The answers to these questions aren't easy.
It's commonly said that a volume spike could be identified if the volume is 25% more than the average of the two weeks prior, but how do you measure this 25%? It's not always easy to calculate, especially in real-time.
This challenge led me to develop the concept into an indicator.
How Does It Work?
Imagine being able to "feel" the market's energy like a surfer feels the ocean. The VSI does something similar by examining trading volume and comparing it to what has been typical over the past few weeks. Here's a quick look at the magic behind it:
Step 1: Establishing the Baseline: We start by establishing a baseline, i.e., the average trading volume over a given period. Let's use the last 10 days as the default setting. We choose 10 days because, in the traditional stock market, 10 days represent two weeks if you subtract weekends. This gives us a fixed line to compare against.
Step 2: Recognizing Peaks: Next, we look for days when the trading volume significantly exceeds this average. The size of the jump is where you have a say. You can set a threshold, such as 25%, to define what you consider a volume spike.
Step 3: The Calculation: This is where the math comes into play. We calculate the percentage change in today's volume compared to the average volume of the last 10 days. For example, if today's volume is 30% above the average and you've set your threshold at 25%, the VSI will recognize this as a spike.
Step 4: Visual Cue: These spikes are then plotted on a graph, with each spike represented as a bar. The height of the bar indicates the spike's percentage size, so you can see at a glance how significant a spike is.
Step 5: Intuitive Color Coding: For quick analysis, the VSI employs a color-coding system. Exceptionally high peaks, such as those exceeding a 100% increase, are highlighted in blue to emphasize their importance. Other peaks are shown in red, creating a visual hierarchy for quick volume data interpretation.
Why This Matters:
Identifying these spikes can help pinpoint the beginning or end of a trend. The idea is that when trading peaks at a certain level, there might be no more buyers or sellers willing to engage at that price level. Volume peaks, and a reversal is likely imminent. It's a simple yet effective concept. Therefore, it's crucial to use this indicator in the context of the trend, as not every spike carries the same significance.
Customizable:
The beauty of the VSI lies in its flexibility. Trading futures? You might want to adjust the averaging period to 14 days to better suit your market. You have full control over the settings to tailor them to your trading style.
Interpreting the Figures:
A positive percentage indicates a volume spike above the average – the higher the percentage, the more significant the spike.
If the percentage exceeds a certain threshold (which you can set, e.g., 25%), it signals a volume spike, indicating increased market activity that could precede significant price movement.
What makes the VSI genuinely adaptable is your ability to tweak the parameters to suit your needs.
Are you trading in a volatile market? Extend the SMA period to smooth out the noise. Trading in a 24-hour market? Adjust the length of your SMA. Seeking finer details? Shorten it. The VSI is yours to adapt to your trading strategy.
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As we wrap up this introduction to the Volume Spike Indicator, I hope you're as excited about its potential as I am. This tool, born out of curiosity and a desire for clarity in the vast ocean of market data, is designed to be your ally in navigating the waves of trading activity.
Remember, the true power of the VSI lies not just in its ability to highlight significant volume spikes, but in its adaptability to your unique trading style and needs. Whether you're charting courses through the tumultuous seas of day trading or navigating the broader currents of long-term investments, the VSI is here to offer insights and guidance.
I encourage you to experiment with it, customize it, and see how it can enhance your trading strategy. And as you do, remember that every tool, no matter how powerful, is just one piece of the puzzle. Combine the VSI with your knowledge, experience, and intuition to make informed and strategic trading decisions.
Thank you for taking the time to explore the Volume Spike Indicator with me.
Best Regards,
Karim Subhieh
Raids ScannerAn extension from my Liquidity Raids indicator is this market-wide scanner where multiple (configured) pairs are scanned for raids on the configured timeframe and listed in the chart.
This is particularly useful if you wanna get an idea of where HTF liquidity has been taken over a basket of pairs of your choice. If you don't want to use the table and would just want to be alerted about the raid, then you can do that as well.
As of now, it can support up to 30 pairs, will add more if necessary.
NOTE: Computation may be limited in some plans which will result in timeouts (everything works well in premium though), you can deselect some pairs if/when it happens.
UP DOWN Indicator 1Title: UP DOWN Indicator based on ADX Strategy - Accurate Signal Provider with Enhanced Success Potential
Description:
The Martingale ADX Indicator is a groundbreaking tool meticulously crafted to offer traders unparalleled precision in signal generation and risk management. Leveraging the power of the Average Directional Index (ADX), this indicator provides 100% non-repaint signals on the current candle, guiding traders to opportune and prepare for trade entry with remarkable accuracy.
With a focus on empowering traders across various financial markets, including Forex and Binary Options, this ADX Strategy-1 Indicator introduces a unique approach to trading dynamics. By seamlessly integrating the renowned Martingale Step-1 risk management strategy, this indicator not only minimizes losses but also enhances the potential for success, even in volatile market conditions.
Key Features:
Non-Repaint Signals: The Martingale ADX Indicator stands as a testament to reliability, offering 100% non-repaint signals. Traders can trust in the consistency and not removing losing Signals which is very important to trust the previous generated signals also, eliminating uncertainties and facilitating confident decision-making.
ADX-Based Precision: Built upon the robust framework of the Average Directional Index (ADX), this indicator delivers precise signals tailored to prevailing market trends and volatility levels. Whether trading in longer timeframes or engaging in Binary Options, traders can rely on the Martingale Step-1 ADX Indicator for superior insights.
Next Candle Trading: Seamlessly integrated into trading strategies, signals from the Martingale ADX Indicator prompt action on the subsequent candle. This real-time approach ensures traders stay ahead of market movements, seizing opportunities as they emerge. Giving Signals Once Candle ahead makes traders to prepare early and decide whether they want to enter the trade on presented Signal or not as per their own experience too. If the trading candle is loss then the very next candle shall be used for taking Martingale Sep-1 to enhance the Accuracy.
Enhanced Success Potential: With Martingale Step-1 risk management, this ADX Indicator offers more than just signal accuracy – it presents the potential for heightened success rates. Through strategic position sizing and leveraging experience and Price Action insights, traders can elevate overall accuracy to levels ranging from 80% to 90%.
Conclusion:
The UP DOWN Strategy-1 Indicator represents a paradigm shift in trading technology, combining precision signal generation with advanced risk management strategies. Whether you're a seasoned trader or just starting your journey, this indicator empowers you to navigate financial markets with confidence and achieve consistent results.
Experience the difference with the Martingale ADX Indicator – where reliability meets profitability, and success becomes attainable with every trade.
Trade wisely, and may your ventures be marked by prosperity and fulfillment.
Pardon for any descriptive language grammatical error and comment about this indicator and to get my other strategy as well. Happy trading !!
Risk Disclaimer:
Trading in financial markets carries inherent risks and should be approached with caution. It is imperative to exercise sound judgment and trade only with funds that you can afford to lose. We strongly advise against using borrowed funds for trading purposes. First practice on demo for own learning then make decision wisely.
[Options Strategies] Selling Covered Calls and Puts (TSO) This trading indicator assists with traditional covered options trading strategies like Covered Calls, Covered Puts, and Cash Secured Puts. It also offers advanced features for trading options intelligently by utilizing options specific levels, such as BE (Break Even) and Strike (all visually shown on chart) in combination with S&R (Support and Resistance), Trend Lines, and other technical analysis tools such as MA (Moving Averages) and ATR Average True Range, all integrated within the indicator.
* Covered options approach over trading shares or options separately offers distinct advantages:
- Reduced Risk and Flexibility : Covered options strategy provides a more conservative approach by combining stock ownership with options trading. It reduces risk exposure compared to buying options outright or trading shares alone. Additionally, it offers flexibility in various market conditions.
- Profitability in Sideways Markets: Covered options allow for profitability in scenarios where the stock price is either moving optimally or remaining sideways. In contrast, just holding stocks might not yield significant gains in a sideways market, and buying options can result in losses due to time decay.
- Protection Against Price Movements: In covered options, if the stock price goes against the trade, the loss is mitigated by the premium received from selling the options. This provides a level of protection compared to other trading strategies where losses can accumulate more rapidly.
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Strategies / Visual Examples:
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Up to 3 Symbols can be monitored at the same time with alerts for each Symbol and a Stats Table. To see Symbol's visuals (Date Range, Strike, BE, etc.) - the chart has to be loaded with that Symbol. Here is an example of trading multiple stocks at same layout on different charts trading AAPL, BAC and TSLA.
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An example of a Smart Covered Calls trading SPY.
STRATEGY EXPLANATION:
* Trade Open Trigger (Bullish/Sideway)
>>> S&R (Support and Resistance) or Trend Line broken, bounced off or simply near (if price is near/slightly crossing S&R/Trend Line > a bounce often takes place)
>>> Confirmation by additional TA (Technical Analysis) tools.
>>> EXAMPLE: Broken Resistance combined with a Trend Line up-bounce, confirmed by bullish 200EMA.
* TP (Take-Profit)
>>> Contracts Expire at Expiration date: Premium received for selling contracts kept.
>>> Assignment: Premium received for selling contracts kept + stock assigned/sold at a higher price than it was purchased.
* BE/SL (Break Even Stop-Loss) |
>>> BE/SL hit: stock sold at a slight loss with options contracts bought out (BTC - Buy to Close) at a lower price than initially sold (since price went down and these are calls), so technically the loss is reduced by the partial Premium still kept from initially sold contracts at trade open.
>>> Increasing the BE/SL distance: for wider BE/SL > Bid Price needs to be increased:
- Set longer Expiration date.
- Set closer Strike price.
NOTE: With longer Expiration date and closer Strike, chances of assignment increase as well. It's best to find an optimal level, where BE/SL is behind a Support/Resistance level and/or an established trend line and/or Large Length Moving Average, yet not extremely far away.
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An example of a Smart Covered Puts trading SPY.
STRATEGY EXPLANATION:
* Trade Open Trigger (Bearish/Sideway)
>>> S&R (Support and Resistance) or Trend Line broken, bounced off or simply near (if price is near/slightly crossing S&R/Trend Line > a bounce often takes place)
>>> Confirmation by additional TA (Technical Analysis) tools.
>>> EXAMPLE: Broken Resistance combined with a Trend Line down-bounce, confirmed by bearish 200EMA.
* TP (Take-Profit)
>>> Contracts Expire at Expiration date: Premium received for selling contracts kept.
>>> Assignment: Premium received for selling contracts kept + stock assigned/bought-to-cover at a lower price than it was shorted.
* BE/SL (Break Even Stop-Loss) |
>>> BE/SL hit: stock bought-to-cover at a slight loss with options contracts bought out (BTC - Buy to Close) at a lower price than initially sold (since price went up and these are puts), so technically the loss is reduced by the partial Premium still kept from initially sold contracts at trade open.
>>> Increasing the BE/SL distance: for wider BE/SL > Bid Price needs to be increased:
- Set longer Expiration date.
- Set closer Strike price.
NOTE: With longer Expiration date and closer Strike, chances of assignment increase as well. It's best to find an optimal level, where BE/SL is behind a Support/Resistance level and/or an established trend line and/or Large Length Moving Average, yet not extremely far away.
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An example of a Smart Secured Cash Puts trading SPY.
STRATEGY EXPLANATION:
* Trade Open Trigger (Bullish/Sideway)
>>> Bullish steady trend.
>>> Confirmation by additional TA (Technical Analysis) tools.
>>> EXAMPLE: Slowly rising price action above 200EMA.
* TP (Take-Profit)
>>> Early BTC: BTC (Buy to Close) before Expiration date if options premium/contract price already reduced by at least 50-90% (the reduced price is the profit, if premium lost 90% - only 10% will need to be paid to buy options out to close the trade) and if the stock price is nearing Resistance, Trend Line or big length moving average (like 200EMA) as a bounce may happen or even a potential reverse of the trend. If there is no trend reversal or a small correction bounce occurs, with further trend continuation > another Cash Secured Puts trade can be opened with new Expiration date and Strike.
>>> Contracts Expire at Expiration date: Premium received for selling contracts kept, considering the Strike was never hit.
>>> Assignment with stock closing below Strike and above/near BE (Break Even): Premium received for selling contracts kept. NOTE: It is best to get rid of the stock ASAP to then open a new Cash Secured Puts trade with lower Strike and a new Expiration date.
* BE/SL (Break Even Stop-Loss) |
>>> BE/SL hit: contracts bought out (BTC - Buy to Close) at a higher price than initially sold (since price went down and these are puts), the amount/difference in current contract price is the loss (as premium received + contract price increase is the total cost, which will have to be paid to buy the countracts out).
>>> Increasing the BE/SL distance: for wider BE/SL > Bid Price needs to be increased:
- Set longer Expiration date.
- Set closer Strike price.
NOTE: With longer Expiration date and closer Strike, chances of assignment increase as well. It's best to find an optimal level, where BE/SL is behind a Support/Resistance level and/or an established trend line and/or Large Length Moving Average, yet not extremely far away.
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An example of Options Wheel strategy trading TQQQ. See how Strike and BE (Break Even) hits are displayed every time they occur.
STRATEGY EXPLANATION:
* Trade Open Trigger (Bullish/Sideway)
>>> Options Wheel strategy combines Cash Secured Puts with Covered Calls, so a steady bullish trend is preferred with lower volatility.
>>> It's best to start with Cash Secured Puts until assignment hits (stocks purchased), then switch to Covered Calls until assignment hits (stocks sold) and so on.
* TP (Take-Profit)
>>> Contracts Expire at Expiration date: Premium received for selling contracts kept.
>>> Assignment: Premium received for selling contracts kept. Stock is assigned (purchased if Cash Secured Puts were sold | sold if Covered Calls were sold ).
* BE/SL (Break Even Stop-Loss)
>>> Assignment is the stop-loss for this strategy, which ends current trade and starts next one. It is not a direct loss, but could result a long unrealized losses if after stock purchase assignment it goes down for a while or even a complete loss if low-cap company is used and it goes out of business.
>>> BE/SL distance can still be increased/kept optimal: for wider BE/SL > Bid Price needs to be increased:
- Set longer Expiration date.
- Set closer Strike price.
NOTE: With longer Expiration date and closer Strike, chances of assignment increase as well. It's best to find an optimal level, where BE/SL is behind a Support/Resistance level and/or an established Trend Line and/or Large Length Moving Average, yet not extremely far away.
| 3.0_wheel_strategy_tqqq_example.png
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Trading open/close/TP/SL labels, plots and colors explanations:
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There are 3 approaches: Cashed Secured Puts, Covered Puts, Covered Calls. Here is an example showing all 3 (the Strikes, Bid prices, Expirations were chosen realistically).
>>> There are 3 symbol templates, the color can be changed for each and each symbol template can be unchecked to be fully hidden or all 3 can be used.
>>> Strike: dashed horizontal line plotted at chosen Strike, if Strike is hit within the Date Range - there will be a label shown.
>>> BE (Break Even): dotted horizontal line plotted at calculated BE, if BE is hit within the Date Range - there will be a label shown.
>>> Stock Purchased: solid horizontal line plotted at input price at which the stock was purchased.
>>> Date Range (STO >>> Expiration ): vertical lines with arrows (arrows direction is based on the approach), which connect Strike, BE (Break Even) and Stock Purchased creating an square/rectangle of the whole trade, making it easy to see everything at once.
>>> Stats Table: shows all the necessary data for each symbol.
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GLOBAL SETTINGS ///////////////////////////////////////////////////////////
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>>> Show: week divider vertical lines: Will show vertical divider lines separating each week.
>>> Show: Mondays and Fridays: Will show M - for Monday, F - for Friday, T - for Tuesday (Tuesday will be shown if there is a Holiday on Monday)
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OPTIONS SETUP: SYMBOL0X /////////////////////////////////////////////////// | (identical for all 3 symbols)
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>>> Symbol0X | Show Table: Turns on symbol01, all visuals on chart, calculations, etc. Table can be separately hidden if desired.
>>> Label Size: Size of the labels on chart showing Strike, BE (Break Even), etc.
>>> Label Color: Color for all symbol0X labels.
>>> Text Color: Text color for all symbol0X labels.
>>> Options Trading Style: 1)Covered Calls: Bullish-sideways market approach (need to own 100 shares of stock per each contract sold), Strike price has to be set above the current stock price | 2)Covered Puts: Bearish-sideways market approach (need to own 100 shares of stock per each contract sold), Strike price has to be set below the current stock price | 3)Cash Secured Puts: Bullish-sideways approach (need to have enough cash to acquire shares at Strike price if hit), Strike price has to be set below the current stock price.
>>> # of contracts sold (1 contract > 100shares): # of contracts sold per trade, for Covered Calls and Covered Puts, every contract must be backed up by 100shares of the underlying stock.
>>> Price per 1 contract (Bid): Premium received per each contract sold.
>>> Strike Price.
>>> Stock Purchase Price: Stock purchase price (NOTE: This is only for Covered Call and Covered Puts, for Secured Cash Puts - stock is only purchased if at Expiration it closes beyond Strike price).
>>> STO (Sell to Open) Date: date at which the contracts were sold and Premium received.
>>> Exp (Expiration) Date: date at which contracts expire, if price never breaks the Strike at Expiration - contracts become worthless!
>>> Alert/Label: Futures Expire Soon: With this setting turned on, an Alert will trigger and a Label will be shown at opening of the first candle bar on the Expiration date. It will certainly be before the end of the day, however depending on the chart TimeFrame during alert creation - it may trigger at a different time. For Example: On a Daily chart TimeFrame SPY (S&P500) will trigger such alert at 9:30AM ET. ||| NOTE: Due to difference in timezones - the solid lines representing the STO >>> Exp range may be off by 1 business day from the date input in the indicator Settings > Inputs, so double check and calibrate the date by setting it 1 day behind/ahead from actual dates so that Alert is received on the actual Expiration date.
>>> Strike price Broken - Style: 'Close': Show/Alert Strike price broken only once candle bar is closed | 'Live': Show/Alert Strike price broken immediately once it happens, before candle bar is closed.
>>> Show: Strike price Broken: will show a label near candle bar breaking the Strike price.
>>> Alert: Strike price Broken: will alert at price breaking the Strike price.
>>> BE (Break Even) price Broken - Alert Style: 'Close': Show/Alert BE (Break Even) price broken only once candle bar is closed | 'Live': Show/Alert BE (Break Even) price broken immediately once it happens, before candle bar is closed.
>>> Show: BE (Break Even) price Broken: will show a label near candle bar breaking the BE price.
>>> Alert: BE (Break Even) price Broken: will alert at price breaking the BE price.
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TA: TREND LINES ///////////////////////////////////////////////////////////
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>>> Trend Lines - Uptrend/downtrend colors
>>> Show: Trend Lines: Show/Hide trend lines
>>> Show: Trend Line Breaks: Show/Hide labels where trend lines were broken
>>> Alert: Trend Line Breaks: Alert when trend line is broken
>>> Trend Lines - Search - Left Bars / Trend Lines - Search - Right Bars: how many candle bars will be used to calculate Trend Lines, the bigger the number > the more precise and less amount of trend lines will be found
>>> Trend Lines - Extend Setting
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TA: S&R (SUPPORT AND RESISTANCE) //////////////////////////////////////////
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>>> S&R (Support and Resistance) - Support/Resistance colors.
>>> Show: S&R (Support and Resistance) Top/Bottom Levels.
>>> Show: S&R (Support and Resistance) Top/Bottom Level Breaks: Show/Hide labels where support/resistance levels were broken
>>> Alert: S&R (Support and Resistance) Top/Bottom Level Breaks: Alert when S&R (Support and Resistance) level is broken
>>> S&R (Support and Resistance) - Search - Left Bars / S&R (Support and Resistance) - Search - Right Bars: how many candle bars will be used to calculate S&R (Support & Resistance) Levels, the bigger the number > the more precise and less amount of support and resistance levels will be found.
>>> S&R Search - Custom Resolution: This is a custom timeframe setting specifically for S&R Search, it disregards current chart timeframe. This is great to use for scalping, for example: with main chart set to 1min and the custom timeframe set to 3min or 5min - there will be stronger support/resistance levels with more detailed price action.
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TA: ADDITIONAL TOOLS //////////////////////////////////////////////////////
>>> Show - MA (Moving Average).
>>> Show - ATR (Average True Range).
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STATS TABLE ///////////////////////////////////////////////////////////////
Stats Table displays all the necessary date about each options setup.
>>> Table positioning
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Adding Alerts in TradngView
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-Add indicator to chart and make sure to check/uncheck which alerts are required, then simply create it.
-Right-click anywhere on the TradingView chart
-Click on Add alert
-Condition: Select this indicator by it’s name
-Immediately below, change it to "alert() function calls only"
-Expiration: Open-ended (that may require higher tier TradingView account, otherwise the alert will need to be occasionally re-triggered)
-Alert name: Whatever you desire
-Hit “Create”
-Note: If you change ANY Settings within the indicator – you must DELETE the current alert and create a new one per steps above, otherwise it will continue triggering alerts per old Settings!
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If you have any questions or issues with the indicator, please message me directly via TradingView.
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Good Luck! (NOTE: Trading is very risky, past performance is not necessarily indicative of future results, so please trade responsibly!)
SFX Signals & Overlays [YinYangAlgorithms]SFX Signals & Overlays aims to help traders Identify Buy & Sell locations, Reversals, Volatility Zones, Support & Resistance and Overbought & Oversold Zones. All of these may work in harmony with each other by helping to identify when to enter and exit a trade; as well as helping to determine the risk / reward the trade may ensue.
SFX Signals & Overlays’s Buy & Sell signals are momentum based, meaning the Initial ‘Buy’ & ‘Sell’ signal may not be exactly where you want to get in/out. What may occur is the initial signal appears, a few more continuation signals appear afterwards (always in a chain); and once the momentum has ended a ‘Reversal’ signal appears. The reversal is there to help signify that the ‘opportune’ time to buy/sell may have passed and the price may now correct in the opposite direction. This Indicator aims to Buy Low and Sell High; and therefore the Buy signal momentum may occur as the price is either about to fall, currently falling or has started to consolidate. When the Buy signal momentum has ended, this means the momentum is at an impasse, but is favoring Buy momentum and a reversal (correction) may occur.
Buying & Selling at reversal signals may be profitable, however it may be less risky to DCA into your long / short positions during the Buy/Sell momentum signals instead. Let's get into the Tutorial so you can better understand how our SFX Signals & Overlays indicator works.
Tutorial:
Our example above showcases how our SFX Signals & Overlays Indicator looks on the default settings ‘Medium’ for each of our Algorithm Settings:
Trend Sensitivity
Signal Sensitivity
Zone Sensitivity
All of our Algorithm Settings feature 3 different speeds:
Fast
Medium
Slow
These speeds may be applied to each Algorithm Setting individually and affect how quickly they adapt to the current market's momentum. This allows you to tailor this Indicator to fit your trading style by adjusting it to meet your needs accordingly. If you are someone who likes to swing trade on the 1-5 minute timeframe, you may find better confluence with all settings on ‘Fast’. Medium term holders and traders may find better results with all settings on ‘Medium’. Likewise, long term investors may find best results with all settings on ‘Slow’. However, this shouldn’t stop you from finding your own best result by adjusting them individually to meet your own unique trading style.
SFX Signals & Overlays helps you identify shifts in momentum by displaying Momentum Signals. Momentum Signals are shown by either a Green or Red Triangle. Momentum Signals can continue for quite some time until the momentum has ended. We rank the first Momentum Signal from 1/5 to 5/5 for their strength and may help determine the chances of the momentum shift occurring. Once the Momentum Signals have ended we display a Reversal Signal. This Reversal Signal helps signify that the Momentum has ended. When the Momentum ends it means that a reversal may have started. This reversal may mean the price will continue in the direction the signal mentioned; or it may mean the price will consolidate. If the price consolidates then the signal is void as when the consolidation ends the price could go in either direction. If you notice consolidation occurring after a Reversal Signal; wait for more confirmations as it is now too risky.
Our Indicator displays different evaluations for each INITIAL Buy and Sell signal. These evaluations rank the current start of the signal from 1-5; 1 being the lowest and least reliable, 5 being the highest and most reliable. These rankings aren’t indefinite and are simply an evaluation at the time of the initial signal. We may potentially provide evaluations at the reversal later on if requested enough. When a Buy or Sell signal occurs this defines where momentum is occurring in this direction. This momentum is indicated by momentum signals shown through red / green triangles. These triangles indicate that this momentum is present. When these momentum signals end is when the Reversal Signal appears indicating that since this momentum has ended, there may be a decent chance of a reversal occurring. There also adherently may be the potential of consolidation occurring; but generally it means there is either a reversal, or consolidation + then a reversal or a continuation; however it may be apparent that the momentum has ended.
ES:
NQ:
BTC:
If you refer to the 3 examples above, we show how the ES, NQ and BTC look within a 5 minute scalping example. Essentially you’d make your decision on the Buy / Sell signal, the momentum signals, the Reversal Signals, the Trend Colors as well as other oscillators and Due Diligence.
Remember, there’s no such thing as a perfect entry / exit, the more you understand about trading and do your own Due Diligence the better. These Buy and Sell as well as Reversal signals attempt to locate and rank momentum shifts to help you identify where the momentum may be ending and reversing in the opposite direction.
Our zones defined by the Outer (red) and Inner (green) are representations of not only Support and Resistance locations, but likewise Overbought and Oversold locations. These zones help in multiple ways. The hard lines that define each zone's start / end are very useful locations of support / resistance which may indicate where the price will bounce off of. Likewise, when the price is within these zones it represents the price being Overbought or Oversold. Then the price is for instance within the Red Resistance Zone, what generally may happen is the price will correct quickly to get back to the ‘Black Empty Zone’ between the Red and Green zones; OR it may consolidate sideways until it has entered the ‘Black Empty Zone’. This is how the price may redeem itself back to being valued correctly. These zones help you identify and understand, in concatenation with our signals when and how much the price may move.
Our Settings are minimalistic so you don’t need to worry and get overwhelmed about changing values and trying to fiddle to find which values works the best for what. Our Algorithms will take care of all of that for you. Simply select the speeds for your Trend, Signals and Zones and you’re good to start trading! You can likewise customize what information is visible to you and the colors to better customize your experience.
Fast:
Medium:
Slow:
The 3 examples above display what the same portion of the chart looks like when Trend, Signal and Zone Sensitivity is changed from Fast, Medium and Slow.
As you can see, they all look quite different in the results they produce. By default all settings are set to Medium, however they can all be individually changed to suit your trading style and needs.
Our Indicator offers many different alert options which may help you stay informed with how the market is moving and any momentum changes that may occur.
Settings:
1. Algorithm Settings
Trend Sensitivity (Fast, Medium, Slow): Trend Sensitivity refers to how quickly the Trend Bar Colors change. Fast: will change colors very quickly if it senses momentum is changing. Medium: will change almost as quickly as Fast, however, rather than swapping from Bullish to Bearish momentum right away it has an intermediate 'Neutral - Slightly Bullish (Yellow)' and 'Neutral - Slightly Bearish (Orange)'. This way you can better visualize when the momentum is dying in the trend and starting back up by having these trend 'Neutral/Consolidation' areas. Slow: will attempt to only change Trend Bar Colors when the momentum has surely shifted. This may result in a bit of lagging behind.
Signal Sensitivity (Fast, Medium, Slow): Signal Sensitivity refers to how quickly the Buy & Sell Momentum Signals & Reversal Signals appear. These signals are meant to appear when it thinks the price may reverse, but the speeds refer to how much of a reversal they think may happen. Fast: will attempt to locate any and all momentum swings. Medium: will attempt to only locate momentum swings which may drive the price up considerably. Slow: will attempt to locate only the most extreme momentum swings. This may result in some potentially good ones missed however; but the ones it finds may have a higher probability of occuring.
Zone Sensitivity (Fast, Medium, Slow): Zone Sensitivity refers to how quickly the Zones expand based on price movement. These zones may be useful for not only seeing Support & Resistance; but also identifying when it is Overbought & Oversold; as well as visualizing volatility between the Black (Empty area) and the zones. The lines that separate each zone are the Support and Resistance locations; the area within the zones are simply the spacing between these Support and Resistance locations. However, the further the price is to the outer zones does represent Overbought and Oversold. Fast: will expand very quickly. This causes the price to be within the Black (Empty area) more often. This may be useful for finding extremities in price movement which may have a better chance of correcting. Medium: moves fast but not anywhere close to as fast as 'Fast'. Medium will hold its values in an attempt to be as accurate as possible for identifying Support and Resistance locations. Slow: will expand very slowly. This may be useful for identifying Support & Resistance as well as Volatility targets on higher time frames since these zones move much slower.
2. Display Settings:
Show Trend Bar Colors: Trend Bar Color are a way of seeing how the Trend is holding up on a bar by bar basis. This may be useful for seeing momentum starting, ending or simply dying down before any signals actually appear.
Signal Text Display (Both, Buy & Sell, Reversals, None: Signals are a way of seeing potential changes in momentum and when they have actually occurred. Our signals also rank from 1/5 to 5/5 how strong of a chance this momentum change may occur (only at the time of the signal, not at the time of the reversal). These may be useful as potential Entry and Exit locations; as well as when you see the reversal, you know that this momentum change has either begun or a consolidation may be occurring. If a consolidation occurs, the signal is no longer valid as the price can now go either way and it is best to wait for more signals or other technical analysis to determine momentum and movement.
Zone Display (All, Outer + Middle, Inner + Middle, Outer, Middle, Inner, None): Zones are composed of 3 areas above and below. These areas attempt to project Support & Resistance locations as well as display when the Price is Overbought and Oversold. You can specify which zones you wish to view, however all are important.
3. Color Settings:
Buy Color: This is the color of all Buy Signals and Zones.
Sell Color: This is the color of all Sell Signals and Zones.
Buy Reversal Color: This is the color of all Buy Signal Reversals.
Sell Reversal Color: This is the color of all Sell Signal Reversals.
If you have any questions, comments, ideas or concerns please don't hesitate to contact us.
HAPPY TRADING!
Tops & Bottoms - Day of Week Report█ OVERVIEW
The indicator tracks when the weekly tops and bottoms occur and reports the statistics by the days of the week.
█ CONCEPTS
Not all the days of the week are equal, and the market dynamic can follow through or shift over the trading week. Tops and bottoms are vital when entering a trade, as they will decide if you are catching the train or being straight offside. They are equally crucial when exiting a position, as they will determine if you are closing at the optimal price or seeing your unrealized profits vanish.
This indicator is before all for educational purposes. It aims to make the knowledge available to all traders, facilitate understanding of the various markets, and ultimately get to know your trading pairs by heart (and saving a lot of your time backtesting!).
USDJPY tops and bottoms percentages on any given week.
USDJPY tops and bottoms percentages on up weeks versus down weeks.
█ FEATURES
Custom interval
By default, the indicator uses the weekly interval defined by the symbol (e.g., Monday to Sunday). This option allows you to specify your custom interval.
Weekly interval type filter
Analyze the weekly interval on any weeks, up weeks, or down weeks.
Configurable time range filter
Select the period to report from.
█ NOTES
Trading session
The indicator analyzes the days of the week from the daily chart. The daily trading sessions are defined by the symbol (e.g., 17:00 - 17:00 on EURUSD).
Extended/electronic trading session
The indicator can include the extended hours when activated on the chart, using the 24-hour or 1440-minute timeframe.
█ HOW TO USE
Plot the indicator and navigate on the 1-day or 24-hour timeframe.
