Auf geht's

Educational

Equity Trade Risk ManagerEquity Trade Risk Manager is a simple indicator that helps you protect your portfolio by going into each trade risk first ! Equity Trade Risk Manager does this by calculating your ideal position size or ideal stop loss based on your account size, purchase price and risk tolerance. This ensures you are never risking more than your predetermined amount on each trade. Unlike most position size calculators, that will only tell traders how many shares to purchase, Equity Trade Risk Manger allows the trader to choose whether they want to calculate the ideal number of shares to purchase or where to set the trades stop loss based on the number of shares owned. Not only that, but knowing traders need to act fast, the indicator also gives the option to quickly use the current price and low of the day as an entry and stop. Lastly, your stop loss will be plotted onto the chart for a visual aid. Features: Dynamic Risk Settings: Account Customization: Input your account size to get metrics tailored to you. Calculation Choices: Decide if you want the tool to calculate the number of shares you should buy or where to set your stop-loss. Custom Risk Parameters: Use preset risk percentages or set your own to match your comfort level. Price Point Flexibility: Enter your entry and stop price or opt to use the current price and the low of the day. Interactive Display Settings: Customizable Interface: Adjust table positions, text size, and color schemes to match your trading dashboard aesthetic. On-Chart Stop-Loss Indication: Visualize your stop loss on the chart itself. Get a snapshot of your dollar risk, position size, shares to buy, and stop-loss.
Pine Script™ Indikator
von Amphibiantrading
13
day traderThe day trader indicator is a technical analysis tool used in financial markets, primarily in stock trading and forex trading. It helps traders identify the direction of a price trend and potential entry or exit points. Here's a brief description of the Super Trend indicator: The day trader indicator is represented as a line on a price chart. It has two key components: 1. *Trend Direction:* The line indicates the current trend direction. If it's rising, it suggests an uptrend, and if it's falling, it suggests a downtrend. 2. *Stop-and-Reverse (SAR) Points:* The Super Trend also serves as a dynamic stop-loss level. When the price crosses the line from below, it generates a buy signal, indicating a potential reversal from a downtrend to an uptrend. Conversely, when the price crosses the line from above, it generates a sell signal, indicating a potential reversal from an uptrend to a downtrend. Traders often use the Super Trend indicator to: - *Identify Trends:* It helps traders determine whether a market is in an uptrend or downtrend, which can be crucial for making informed trading decisions. - *Entry and Exit Points:* day trader signals can be used to enter or exit positions. Buy signals may suggest entering a long position, while sell signals may indicate short-selling or exiting a long position. - *Stop-Loss Levels:* Traders use the Super Trend line as a dynamic stop-loss level. As the price moves, the stop-loss level adjusts accordingly, helping to protect profits and limit losses. It's important to note that while the indicator can be a valuable tool, like any technical analysis tool, it's not foolproof and should be used in conjunction with other analysis methods and risk management strategies for successful trading. Traders often customize the indicator's settings to suit their trading preferences and timeframes.
Pine Script™ Indikator
von daytrader4jhj4
Label_Trades Enter your trade information to display on chartThis indicator is an overlay for your main chart. It will display your trade entry and trade close positions on your chart. After you place the indicator on you shart you will need to enter the trade information that you want to display. You can open thte input setting by clicking on the gear sprocket that appears when you hover your mouse over the indicator name. There are 7 seting you will want to fill in. Date and Time Bought Date and Time Sold Trade Lot Size Select whether the trades was 'long' or 'short' The price for buying the Trade The price for selling the Trade On the third tab The code is straightforward. Using a conditional based on whtehr the trade was 'long' or 'short' determines where the labels will be placed and whether they show a long trade or short trade. It also displays a tool tip when you hover over the label. The tooltip will display the number of lots bought or sold and the price. The lable.new() function is the meat of the indicator. I will go over a line to explainthe options available. Pinscript manual(www.tradingview.com) The function parameters can be called out as in the example above or the values can be placed comma seperated. If you do the latter you must enter the parameters in order. I like anming the parameters as I place them so I can easily see what I did. label.new( x=t_bot, // x is the time the transaction occured y=na, // y is the for the y-axis it is not used here so 'na' tells pinescript to ignore the parameter xloc=xloc.bar_time, // x_loc is specifying that x is a time value yloc=yloc.belowbar, // y-loc specifies to place the label under the bar. There are other locations to use. See language reference ((www.tradingview.com) style=label.style_triangleup, // This parameter selects the lable style. There are many other style to use, see the manual. color=color.green, // the Label fill color size=size.small, // the label size tooltip=str.tostring(lot_size) + " lots bought at $" + str.tostring(bot_val)) // Some parameters are tricky. This one needs to be a string but we are using an integer value(lot_size) and a float value(bol_val). They are all concatenated via the "+" sign. In oorder to do this the numeric values need to be cast or converted into strings. The string function str.tostring() does this.
Pine Script™ Indikator
von jryan3
How To Input CSV List Of Symbol Data Used For ScreenerExample of how to input multiple symbols at once using a CSV list of ticker IDs. The input list is extracted into individual ticker IDs which are then each used within an example screener function that calculates their rate of change. The results for each of the rate of changes are then plotted. For code brevity this example only demonstrates using up to 4 symbols, but the logic is annotated to show how it can easily be expanded for use with up to 40 ticker IDs. The CSV list used for input may contain spaces or no spaces after each comma separator, but whichever format (space or no space) is used must be used consistently throughout the list. If the list contains any invalid symbols the script will display a red exclamation mark that when clicked will display those invalid symbols. If more than 4 ticker IDs are input then only the first 4 are used. If less than 4 ticker IDs are used then the unused screener calls will return `float(na)`. In the published chart the input list is using only 3 ticker IDs so there are only 3 plots shown instead of 4. NOTICE: This is an example script and not meant to be used as an actual strategy. By using this script or any portion thereof, you acknowledge that you have read and understood that this is for research purposes only and I am not responsible for any financial losses you may incur by using this script!
Pine Script™ Indikator
von allanster
14
Volume Profile - BearJust another Volume Profile but you can fit into your chart better by moving back and forth horizontally. also note you can fix the number of bars to show the volume by that way you can use a fib retracment to line up high/low volume nodes with fib levels... see where price as bad structure. or just play with the colors to make a cool gradient? Volume Profile is a technical analysis tool used by traders to analyze the distribution of trading volume at different price levels within a specified time frame. It helps traders identify key support and resistance levels, potential areas of price reversals, and areas of high trading interest. Here's how to read Volume Profile on a trading chart: 1. **Choose a Time Frame**: Decide on the time frame you want to analyze. Volume Profile can be applied to various time frames, such as daily, hourly, or even minute charts. The choice depends on your trading style and goals. 2. **Plot the Volume Profile**: Once you have your chart open, add the Volume Profile indicator. Most trading platforms offer this tool. It typically appears as a histogram or a series of horizontal bars alongside the price chart. 3. **Identify Key Elements**: a. **Value Area**: The Value Area represents the price range where the majority of trading volume occurred. It is often divided into three parts: the Point of Control (POC) and the upper and lower value areas. The POC is the price level where the most trading activity occurred and is considered a significant support or resistance level. b. **High-Volume Nodes**: High-volume nodes are price levels where there was a significant amount of trading volume. These nodes can act as support or resistance levels because they represent areas where many traders had their positions. c. **Low-Volume Areas**: Conversely, low-volume areas are price levels with little trading activity. These areas may not provide strong support or resistance because they lack significant trader interest. 4. **Interpretation**: - If the price is trading above the POC and the upper value area, it suggests bullish sentiment, and these levels may act as support. - If the price is trading below the POC and the lower value area, it suggests bearish sentiment, and these levels may act as resistance. - High-volume nodes can also act as support or resistance, depending on the price's current position relative to them. 5. **Confirmation**: Volume Profile should be used in conjunction with other technical analysis tools and indicators to confirm trading decisions. Consider using trendlines, moving averages, or other price patterns to validate your trading strategy. 6. **Adjust for Different Time Frames**: Keep in mind that Volume Profile analysis can yield different results on different time frames. For example, a support level on a daily chart may not hold on a shorter time frame due to intraday volatility. 7. **Practice and Experience**: Like any trading tool, reading Volume Profile requires practice and experience. Analyze historical charts, paper trade, and refine your strategies over time to gain proficiency. 8. **Stay Informed**: Stay updated with market news and events that can impact trading volume. Sudden news can change the significance of volume levels.
Pine Script™ Indikator
von thebearfib
3
High/Low Fibs using Bullish Anchors I do Love me some fibs!! i used a lot of 30 min Opening Range Fibs for interday trading, but have found that using more bars back can make for stronger levels just like when we use higher time frame to see support & resistant levels. You can just find high and lows for making an easy auto draw fib retracment, I think you will find these to be fairly accurate or at least just entertaining . Here are some basics on how to use FIb Retracments Fibonacci retracement is a popular technical analysis tool used by traders to identify potential levels of support and resistance in financial markets, including stocks. It is based on the Fibonacci sequence, a series of numbers where each number is the sum of the two preceding ones (e.g., 0, 1, 1, 2, 3, 5, 8, 13, 21, ...). The key Fibonacci retracement levels are 23.6%, 38.2%, 50%, 61.8%, and 78.6%. These levels are used to identify potential reversal points or areas of price consolidation. Here's how to use Fibonacci retracement in stock trading: 1. Identify a Significant Price Move: Start by identifying a significant price move in the stock you are analyzing. This move can be either an uptrend or a downtrend. For uptrends, you'll be measuring from the low point to the high point, and for downtrends, you'll measure from the high point to the low point. 2. Draw Fibonacci Levels: *With this indicator We do this for you Once you have identified the price move, use a Fibonacci retracement tool available on most trading platforms to draw the retracement levels. Typically, you will draw lines from the low point to the high point for uptrends and vice versa for downtrends. 3. Analyze Key Levels: Pay attention to the key Fibonacci retracement levels, especially the most commonly used ones, which are 38.2%, 50%, and 61.8%. These levels are considered significant in determining potential support and resistance areas. The 23.6% and 78.6% levels are also used but are considered secondary. 4. Look for Confluence: Consider other technical analysis tools and indicators to look for confluence at these Fibonacci retracement levels. For example, if a 50% retracement level coincides with a moving average or a trendline, it may strengthen the level's significance. 5. Monitor Price Action: Watch how the stock's price reacts when it approaches these Fibonacci retracement levels. If the price stalls, reverses direction, or shows signs of consolidation around a particular level, it may act as support or resistance. 6. Set Entry and Exit Points: Based on your analysis, you can set entry and exit points for your trades. Traders often look for buying opportunities near Fibonacci support levels and selling opportunities near resistance levels. Stop-loss orders can be placed just below support or above resistance levels to manage risk. 7. Practice Risk Management: Always use proper risk management techniques in your trading. This includes setting stop-loss orders, determining your position size, and not risking more than you can afford to lose on a single trade. 8. Monitor Market Conditions: Be aware that Fibonacci retracement levels are not foolproof and should be used in conjunction with other analysis methods and market conditions. Market sentiment, news events, and economic factors can also influence stock prices. 9. Continuously Learn and Adapt: As with any trading strategy, it's essential to continuously learn and adapt. Test the effectiveness of Fibonacci retracement levels on different time frames and with different stocks to refine your trading strategy. ** Special Thanks to @KioseffTrading for doing most all of the HEAVY LIFTING on the code here... he is beyond a Top G!!
Pine Script™ Indikator
von thebearfib
5
Trade Warehouse (SPOT trades)Hello there! Let's imagine You are trading SPOT, buy more and more every new dump, but bear market is not going to stop... and your first trade was 3 YEARS AGO!!! Can't believe it is true. The problem is - exchanges allow You to see only new trades last 6 months(Binance). But I want to see all of them! How do I know AVG Price? This script is my solution. Just use it to track and store your trade, so You can see AVG without uploading old trades everytime and using calculator. Script description: Here You can see the "Trade" type of variable. Python script using Pandas converts trades from .csv file into string type that You can input as trade(price, pair, amount, date..). After it uppends to the trades_array and pushed into the loop. If trade date is more than current cundle - it pushes new trade to other arrays such a "pair", "avg_tot" etc. to comput it later. If trade was buy - it increase invested capital and owned amount, opposite for sell and recomputs AVG price. Since script has at least 1 trade it starts to plot AVG price. There are 2 AVG price: 1. For total invested counting(You can get negative value if traded successful) 2. Current AVG price since last 0 currency amount(there is dust value to set how many usd we take as dust) Table represents all assets statistics Just upload your trades only 1 time, use script to convert it into pine code, and use as indicator. This script allow You to see ALL trades from oldest to the newest. github.com/Arivadis/...w_Tradings_warehouse If this script helped You - press Star (on GitHub) Like (on TradingView) Warning - Does not include free/earn/withdraw/deposit counting. Only Buy and Sell => This script has no idea about your side currency deposits, so if You got Your BTC or EUR or .. from another wallet and sold later - it can break your statistical data. Add this transfer manually(see examples inside script). Use my github manual to get this script workin. Installing takes around 3 minutes and contains 3-5 steps
Pine Script™ Indikator
von Arivadis
1
ICT Time Indicator - MinimalisticThis indicator is intended to make backtesting and journaling a lot easier. This script will automatically plot the sessions you selec.t You don't have to worry about your timezone because this indicator will automatically handle that. For best results please don't go any higher than the Hourly. I aimed to keep this indicator very minimalistic to reduce the 'lipstick' on your chart. Enabling any of the follow settings will quickly show you on your chart the times you want to be looking at: Morning Session Lunch Afternoon Session Marco 0950-1010 Marco 1050-1110 Marco 1450-1510 Silver Bullet London Open Silver Bullet AM Silver Bullet PM You can also customize the color of any time session to suite your color scheme. If you have any requests please leave a comment (I'm sure there are more marcos) :)
Pine Script™ Indikator
von SuspiciousAvocado
4
ICT True Day Range [MK]The indicator displays the following: Vertical line day separator from 00:00 to 00:00 EST High/Low lines for the days true range from 00:00 to EOD Opening line from 00:00 EST to EOD Opening line from 08:30 EST to EOD Weekly Opening line from Sunday open at 18:00 EST to last bar in the week Monday range high/low/mid line, which can be extended to EOW Text displaying Days of the Week All functions can be fully customized regarding color/style and line width. Below shows image of indicator with day separator: (it didn't show on the main chart despite being enabled?) All of the above are to be used to give the user all the tools necessary to analyze the following concepts which can be studied on ICTs you tube channel: Weekly profile, eg, has the weekly manipulated below the weekly open to then rise the rest of the week? Daily profile, eg, has the day manipulated below the daily open (00:00 EST) to then rise the rest of the day? Daily liquidity grab, eg has the current day taken PDH/PDL at the start of the current day? Daily targets, eg will the current day end up taking liquidity from the PDH/PDL? Monday range, will Mondays high/low range act as the accumulation phase of the weekly AMD profile? Tuesday/Wednesday/Thursday/Friday reversal, eg, does a day of the week line up with a HTF target and a high volatility news event which could see price reverse after the manipulation phase of the weekly AMD profile? In strong trending markets, will the 0830 open line be used in the NY session as manipulation reference in the same manner as the 00:00 line is normally used? The above examples of how the indicator 'could' be used are not the only ways to use the indicator. The indicator is by no means a trading strategy on its own. Users should be fully aware of ICT concepts and have performed extensive back-testing before using the indicator with live accounts.
Pine Script™ Indikator
von malk1903
18
Yield Curve Analyzer - Market RadarThis is a script that gives insight into the types of moves that are happening across the yield curve. It helps in identifying both bull/bear steepeners and flatteners between two tenors. The indicator displays data as a percentage of the steepeners and flatteners that have occurred over a short-term trailing window. This gives a reading that is more digestible with less noise. Currently, the indicator only displays data for the 10Y-2Y US Treasury yield spread. We intend to add additional spreads in the near future; such as 10Y-3M, 30Y-5Y, and 30Y-2Y.
Pine Script™ Indikator
von themarketradar
ATR Trend Reversal Zone indicatorThis indicator helps avoid taking reversal trades too close to the 21 EMA, which may fail since the market often continues its trend after retracing from the 21 EMA level. It does not generate a direct signal for reversal trades but rather indicates points where you can consider potential reversal trades based on your trading methodology This script defines an indicator that calculates the 21 Exponential Moving Average (EMA) and the Average True Range (ATR) for a given period. It then computes the distance between the most recent closing price and the 21 EMA in terms of ATR units. If this distance is equal to or greater than 3 ATRs, a small green circle is plotted below the corresponding bar on the chart, indicating a potential reversal condition.
Pine Script™ Indikator
von Kavin301
5
Personal Trading Hours (timezone Europe/Amsterdam)This Personal Trading Hours indicator is intended to specify the times you can trade and make them visible on the chart. Multiple sessions can be specified per specific day of the week and you can give each day its own color if you want. This can be used perfectly if you are backtesting your strategy manually. You can indicate exactly when you have time to look at the charts and therefore only perform your backtest at those times. Making mistakes that you open en close trades during your sleeptime or worktime in your backtest are gone. But this indicator is also suitable for live trading. Filter out the times when you don't want to trade, for example during lunchtime, during opening hours of the exchanges or when you know that big news events will take place during your tradingweek. All the timesessions you do want to trade you can make visible on you chart. The timezone that is used for this indicator is the timezone: Europe/Amsterdam and therefor only usable for traders in this timezone. You can use this indicator for timeframes lower then the Daily timeframe with the normal settings. If you want to use this indicator on the Daily timeframe, all the settings in the upper part of the settingsmenu must be unchecked and only the part at the bottom of the settingsmenu can then be used. This indicator doesn't work on timeframes higher than the Daily timeframe. If you do not use all the tradingsessions on each day, you have to make sure that all the boxes are filled. So unused session boxes must have the same timeperiodes as the used boxes, otherwise the whole day will be highlighted on the chart.
Pine Script™ Indikator
von chrismariatrader
2
Machine Learning: Trend Pulse⚠️❗ Important Limitations: Due to the way this script is designed, it operates specifically under certain conditions: Stocks & Forex : Only compatible with timeframes of 8 hours and above ⏰ Crypto : Only works with timeframes starting from 4 hours and higher ⏰ ❗Please note that the script will not work on lower timeframes.❗ Feature Extraction : It begins by identifying a window of past price changes. Think of this as capturing the "mood" of the market over a certain period. Distance Calculation : For each historical data point, it computes a distance to the current window. This distance measures how similar past and present market conditions are. The smaller the distance, the more similar they are. Neighbor Selection : From these, it selects 'k' closest neighbors. The variable 'k' is a user-defined parameter indicating how many of the closest historical points to consider. Price Estimation : It then takes the average price of these 'k' neighbors to generate a forecast for the next stock price. Z-Score Scaling: Lastly, this forecast is normalized using the Z-score to make it more robust and comparable over time. Inputs: histCap (Historical Cap) : histCap limits the number of past bars the script will consider. Think of it as setting the "memory" of model—how far back in time it should look. sampleSpeed (Sampling Rate) : sampleSpeed is like a time-saving shortcut, allowing the script to skip bars and only sample data points at certain intervals. This makes the process faster but could potentially miss some nuances in the data. winSpan (Window Size) : This is the size of the "snapshot" of market data the script will look at each time. The window size sets how many bars the algorithm will include when it's measuring how "similar" the current market conditions are to past conditions. All these variables help to simplify and streamline the k-NN model, making it workable within limitations. You could see them as tuning knobs, letting you balance between computational efficiency and predictive accuracy.
Pine Script™ Indikator
von Uldisbebris
3
Price Variation and Projection IndicatorThis indicator calculates and visualizes various aspects of price variation and projection based on certain parameters such as rate of change, time interval, constant value, and more. It helps traders understand potential price movements and provides insights into potential support and resistance levels. The indicator displays the following information: Resistance and support levels based on the highest and lowest prices over a specified period. ∆P (Price Variation) calculated between two high oscillations. ∆t (Time Variation) calculated between two high oscillations. Price variation rate. Price projections based on rate of change and the most occurred variation. Additionally, parallel lines are drawn to illustrate projected price ranges, and the most frequent ∆P value is shown for reference. in short the indicator does it projects possible support and resistance for you to add a mark for example you see that it gave a projection you mark it on the chart with horizontal line or horizontal ray you can configure it by Period or by ∆t calculation limit au increase the period it will increase the projection of all targets interesting periods to use 20 50 80 120 200 since the ∆t calculation limit au decrease increases the projection in the Price projection that is showing the information in blue color when increasing it decreases the projection target ∆t calculation interesting limit to use 3 4 6 7 8 9 it works for all timeframes can be used for Swing trade or day trade use I like to use it with a closed market that helps me to trace possible support and resistance can be used with open market as well Choose your preferred language to display the information Please note that this indicator is designed for educational and informational purposes. Always conduct your own analysis and consider risk management strategies before making trading decisions.
Pine Script™ Indikator
von rafaelfutuoso
Position and Risk Calculator (for Indices) [dR-Algo]Position and Risk Calculator : Your Ultimate Risk Management Tool for Indices The difference between a novice and a seasoned trader often comes down to one essential element: risk management. While trading indices, the challenges are even more intense due to market volatility and leverage. The Position and Risk Calculator steps in here to bridge the gap, providing you with an efficient tool designed exclusively for indices trading. Key Features: User-Friendly Interface: Designed to integrate effortlessly with your TradingView chart, this tool's interface is intuitive and clutter-free. Dynamic Price Level Adjustment: Move your Entry, Stop Loss, and Take Profit levels directly on the chart for an interactive experience. Account Balance Input: Customize the tool to understand your unique financial situation by inputting your current account balance. Trade Risk Customization: Define how much you're willing to risk per trade, and the tool will do the rest. Automated Calculations: The indicator calculates the maximum monetary risk and translates it into the maximum lot size you can afford. It delivers a full-integer lot size to make your trading decisions easier. Comprehensive Risk Evaluation: Beyond lot sizes, it provides you with the Cost-to-Reward Ratio (CRV) of your trade, the actual monetary risk according to the calculated lot size, and the potential profit. How To Use: Once you add the Position and Risk Calculator to your TradingView chart, a new interactive panel appears. Here’s how it works: Set Price Levels: Using draggable lines on the chart, set your Entry Price, Stop Loss, and Take Profit levels. Account Details: Go to settings and enter your Account Balance and your desired risk percentage per trade. Automatic Calculations: As soon as the above details are set, the indicator goes to work. It first calculates your maximum risk in monetary terms and then translates that into the maximum lot size you can take for the trade. Review and Trade: The indicator shows you all the vital statistics - CRV of the trade, the money at risk according to the calculated lot size, and the possible profit. Why Choose This Tool? Informed Decisions: Your trading decisions will be based on concrete numbers, removing guesswork. Time-saving: No need for manual calculations or using separate tools; everything is in one place. Focus on Trading: By automating the risk management aspect, this tool allows you to focus more on your trading strategy and market analysis. Tailor-Made for Indices: Unlike many other tools that try to serve all markets, the Position and Risk Calculator is designed specifically for indices trading. Remember, effective risk management is what separates successful traders from those who burn out. The Position and Risk Calculator not only helps you define your risk but also helps you understand it, empowering you to trade with confidence. So why not give yourself the best chance of success? Add the Position and Risk Calculator to your TradingView setup and experience the difference it can make.
Pine Script™ Indikator
von dR-Algo
5
Options Scalping NiftyThis Indicator is Owned by Team Option Scalping. Top Right Corner TABLE ( 6 , 10 ) When you are trading in Nifty futures , we have to check major Stocks which is contributing to Nifty move. So we have given that in this tab. This table consist of 5 Major Indices and 5 Stocks : • BankNifty • Nifty •FinNifty • Dow • VIX • RIL • HDFCBANK • INFY • TCS • ICICBANK And following data of each stock has been provided: • LTP • Daily Change • Daily Percentage Change • 15-minute Change Percentage • 1-Hour Change Percentage This Table is completely different from Our other publish indicator named "Options Scalping V2". That consist of banking stocks data, and this consist of Nifty Stocks data. Data set are same but constituents are different.
Pine Script™ Indikator
von OptionsScalper123
1
Adjustable Bull Bear Candle Indicator (V1.2)Indicator Description: Adjustable Bull Bear Candle Indicator This indicator, named "Adjustable Bull Bear Candle Indicator ," is designed to assist traders in identifying potential bullish and bearish signals within price charts. It combines candlestick pattern analysis, moving average crossovers, and RSI (Relative Strength Index) conditions to offer insights into potential trading opportunities. Disclaimer: Trading involves substantial risk and is not suitable for every investor. This indicator is a tool designed to aid in technical analysis, but it does not guarantee successful trades. Always exercise your own judgment and seek professional advice before making any trading decisions. Key Features: Preceding Candles Analysis: The indicator examines the behavior of the previous 'n' candles to identify specific patterns that indicate bearish or bullish momentum. Candlestick Pattern and Momentum: It considers the relationship between the opening and closing prices of the current candle to determine if it's bullish or bearish. The indicator then assesses the absolute price difference and compares it to the cumulative absolute differences of preceding candles. Moving Averages: The indicator calculates two Simple Moving Averages (SMAs) – Close SMA and Far SMA – to help identify trends and crossovers in price movement. Relative Strength Index (RSI): RSI is used as an additional measure to gauge momentum. It analyzes the current price's magnitude of recent gains and losses and compares it to past data. Time Constraint: If enabled, the indicator operates within a specific time window defined by the user. This feature can help traders focus on specific market hours. Customizable Alerts: The indicator includes an alert system that can be enabled or disabled. You can also adjust the specific alert conditions to align with your trading strategy. How to Use: This indicator generates buy signals when specific conditions are met, including a bullish candlestick pattern, positive price difference, closing price above the SMAs, RSI above a threshold, preceding bearish candles, and optionally within a specified time window. Conversely, short signals are generated under conditions opposite to those of the buy signal. Disclosure and Risk Warning: Educational Tool: This indicator is meant for educational purposes and to aid traders in their technical analysis. It's not a trading strategy in itself. Risk of Loss: Trading carries inherent risks, including the potential for substantial loss. Always manage risk and consider using proper risk management techniques. Diversification: Do not rely solely on this indicator. A well-rounded trading approach includes fundamental analysis, risk management, and proper diversification. Consultation: It's strongly advised to consult with a financial professional before making any trading decisions. Conclusion: The "Bullish Candle after Bearish Candles with Momentum Indicator" can be a valuable tool in your technical analysis toolkit. However, successful trading requires a deep understanding of market dynamics, risk management, and continual learning. Use this indicator in conjunction with other tools and strategies to enhance your trading decisions. Remember that past performance is not indicative of future results. Always be cautious and informed when participating in the financial markets.
Pine Script™ Indikator
von Soveriegn_SE