Multiple Moving Averages, Bollinger Bands, VWAP Options - Lett5 simple moving averages.
You decide:
1. The type of moving average
2. The length of the moving average
3. To show Bollinger Bands
4. To show VWAP.
Moving Averages
Shuey KGBBMA TF 15Indicator: 5 Bollinger Bands with Individual Settings based on Kang Gun BBMA
Overview
The "5 Bollinger Bands with Individual Settings" indicator is a versatile technical analysis tool designed for TradingView users. It allows traders to visualize five separate Bollinger Bands on a single chart, each with customizable settings for length (period) and standard deviation multiplier. This flexibility enables traders to analyze price volatility and trends over different timeframes and sensitivity levels simultaneously.
Purpose
Bollinger Bands are widely used to identify periods of high and low volatility, potential price breakouts, and overbought or oversold conditions. By providing five sets of Bollinger Bands with individual settings, this indicator helps traders:
Compare volatility across different periods.
Detect multiple levels of support and resistance.
Identify trends and potential reversal points with greater precision.
Tailor their analysis to specific trading strategies and asset classes.
How It Works
Input Parameters:
Length: Number of periods used to calculate the Simple Moving Average (SMA).
Multiplier: Number of standard deviations to set the width of the Bollinger Bands.
Bollinger Bands Calculation:
Middle Band: The SMA of the chosen length.
Upper Band: The middle band plus the product of the standard deviation and the multiplier.
Lower Band: The middle band minus the product of the standard deviation and the multiplier.
Standard Deviation:
The standard deviation is calculated over the same period as the SMA to measure the dispersion of price data.
Customization Options
Length 1-5: Individual period settings for each Bollinger Band set.
Multiplier 1-5: Individual standard deviation multipliers for each Bollinger Band set.
Source: The price data used for calculations (e.g., closing price).
Usage
Volatility Analysis: Use different lengths and multipliers to assess price volatility over various timeframes. Wider bands indicate higher volatility, while narrower bands suggest lower volatility.
Trend Identification: Bands that expand and contract can help identify trending markets versus ranging markets. Multiple bands can show the interaction of different trend periods.
Overbought/Oversold Conditions: Prices touching or breaching the upper band may indicate overbought conditions, while prices near the lower band may suggest oversold conditions.
Support and Resistance: Upper and lower bands often act as dynamic support and resistance levels.
Practical Tips
Combine multiple sets of Bollinger Bands to get a comprehensive view of market conditions.
Adjust lengths and multipliers based on the asset’s volatility and your trading timeframe.
Use in conjunction with other technical indicators to confirm signals and enhance your trading strategy.
Crypto SeasonDefinition
This indicator is an informative indicator aiming to predict when the Altcoin season will start and when Bitcoin will enter the month season.
The average of the graph shows the dominance of altcoins other than BTC, ETH and USDT. If this value is over 30, the BTC says that the bull season is over. This value indicates that 20 to 30 BTC is in the bull season or accumulation. If this value is less than 20, it means that the subcoin season has begun.
Disclaimer
This indicator is for informational purposes only and should be used for educational purposes only. You may lose money if you rely on this to trade without additional information. Use at your own risk.
Version
v1.0
MA MACD BB BackTesterOverview:
This Pine Script™ code provides a comprehensive backtesting tool that combines Moving Average (MA), Moving Average Convergence Divergence (MACD), and Bollinger Bands (BB). It is designed to help traders analyze market trends and make informed trading decisions by testing various strategies over historical data.
Key Features:
1. Customizable Indicators:
Moving Average (MA): Smooths out price data for clearer trend direction.
MACD: Measures trend momentum through MACD Line, Signal Line, and Histogram.
Bollinger Bands (BB): Identifies overbought or oversold conditions with upper and lower bands.
2. Flexible Trading Direction: Choose between long or short positions to adapt to different market conditions.
3. Risk Management: Efficiently allocate your capital with customizable position sizes.
4. Signal Generation:
Buy Signals: Triggered by crossovers for MACD, MA, and BB.
Sell Signals: Triggered by crossunders for MACD, MA, and BB.
5. Automated Trading: Automatically enter and exit trades based on signal conditions and strategy parameters.
How It Works:
1. Indicator Selection: Select your preferred indicator (MA, MACD, BB) and trading direction (Long/Short).
2. Risk Management Configuration: Set the percentage of capital to allocate per position to manage risk effectively.
3.Signal Detection: The algorithm identifies and plots buy/sell signals directly on the chart based on the chosen indicator.
4. Trade Execution: The strategy automatically enters and exits trades based on signal conditions and configured strategy parameters.
Use Cases:
- Backtesting: Evaluate the effectiveness of trading strategies using historical data to understand potential performance.
- Strategy Development: Customize and expand the strategy to incorporate additional indicators or conditions to fit specific trading styles.
ADDONS That Affect Strategy:
1. Indicator Parameters:
Adjustments to the settings of MACD (e.g., fast length, slow length), MA (e.g., length), and BB (e.g., length, multiplier) will directly impact the detection of signals and the strategy's performance.
2. Trading Direction:
Changing the trading direction (Long/Short) will alter the entry and exit conditions based on the detected signals.
3. Risk Management Settings:
Modifying the position size percentage affects capital allocation and overall risk exposure per trade.
ADDONS That Do Not Affect Strategy:
1. Visual Customizations:
Changes to the color, shape, and style of the plotted lines and signals do not impact the core functionality of the strategy but enhance visual clarity.
2. Text and Labels:
Modifying text labels for the signals (such as renaming "Buy MACD" to "MACD Buy Signal") is purely cosmetic and does not influence the strategy’s logic or outcomes.
Notes:
- Customization: The indicator is highly customizable to fit various trading styles and market conditions.
- Risk Management: Adjust position sizes and risk parameters according to your risk tolerance and account size.
- Optimization: Regularly backtest and optimize parameters to adapt to changing market dynamics for better performance.
Getting Started:
-Add the script to your chart.
-Adjust the input parameters to suit your analysis preferences.
-Observe the marked buy and sell signals on your chart to make informed trading decisions.
Uptrick: Trend Confirmation IndicatorIf you buy this indicator/strategy the code will be provided so in order to access it you will need to go to Tradingview and at the bottom click 'Pine Editor'. Then click 'Open' and then click on 'New strategy'. Here you can then paste the code and save it. Make sure to first delete all the code that there is before pasting it inside.
Description:
The "Uptrick: Trend Confirmation Indicator" stands as an exceptional tool for traders seeking reliable confirmation of market trends. This indicator integrates multiple technical analysis components to provide clear signals for trend direction, aiding traders in making well-informed trading decisions with confidence.
EMA and MACD Analysis:
The indicator leverages the Exponential Moving Average (EMA) to capture the long-term trend direction of the market. The EMA is calculated over a customizable period, allowing traders to adapt the indicator to various timeframes and market conditions.
Additionally, the Moving Average Convergence Divergence (MACD) is employed to further confirm trend direction. By analyzing the difference between two moving averages and their smoothing, the MACD component helps identify potential shifts in market momentum.
Trend Confirmation Mechanism:
The indicator confirms a trend when the closing price is above the EMA, and the MACD line shows a positive change, indicating upward momentum. This combined signal enhances the reliability of trend confirmation, reducing false signals and noise in the market.
To filter out short-term fluctuations, the indicator requires trend confirmation over multiple bars, ensuring a more robust assessment of market direction.
Background Color and Visualization:
The background color dynamically adjusts based on the direction of the EMA, providing visual cues for trend directionality. A green background signifies an upward trend, while a red background indicates a downward trend.
This visual representation enhances the clarity of trend identification, allowing traders to quickly assess market conditions at a glance.
Signal Generation and Execution:
The indicator generates long signals when the EMA crosses above its previous value, indicating a potential bullish reversal. Conversely, short signals are generated when the EMA crosses below its previous value, signaling a potential bearish reversal.
These signals are executed through automated buy and sell orders, streamlining the trading process and minimizing human error.
Utility and Potential Usage:
The "Uptrick: Trend Confirmation Indicator" is an indispensable tool for traders across various experience levels, offering clear and reliable signals for trend confirmation.
Short-term traders can benefit from its ability to filter out noise and provide accurate trend signals, enhancing their intraday trading strategies.
Long-term investors can leverage its robust trend confirmation mechanism to identify favorable entry and exit points, optimizing their portfolio management and risk mitigation strategies.
In conclusion, the "Uptrick: Trend Confirmation Indicator" stands out as an excellent trading tool, empowering traders with the confidence to navigate the markets effectively and capitalize on profitable opportunities with precision and clarity.
Uptrick:Intensity IndexPurpose:
The "Uptrick: Intensity Index" strategy is designed to provide traders with insights into the trend intensity of security by combining multiple moving averages and their relative positions. This versatile tool can be used effectively by both short-term and long-term traders to identify potential buy and sell signals based on specific conditions.
Explanation:
Input Parameters and Customization:
Moving Averages Lengths:
Adjust MA1, MA2, and MA3 lengths to change the calculation periods for the moving averages.
Trend Intensity Index SMA Length:
Adjust the length of the SMA applied to the TII.
Plot Colors:
Change the colors of the TII and TII MA plots for better visualization.
Background Colors and Transparency:
Set different colors for positive and negative TII MA values.
Control the transparency of the background color.
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MA1 (Length 10): Short-term moving average, useful for capturing short-term market trends.
MA2 (Length 20): Medium-term moving average, providing a balanced view of market trends.
MA3 (Length 50): Long-term moving average, offering insights into long-term market trends.
The script calculates the relative positions of the closing price to each moving average (rel1, rel2, rel3) to determine how far the current price deviates from each average.
Trend Intensity Index (TII):
The TII is calculated as the average of the relative positions (rel1, rel2, rel3), multiplied by 100 to convert it into a percentage. This index reflects the overall intensity of the trend, considering short-term, medium-term, and long-term perspectives.
The TII is plotted in blue, providing a visual representation of trend intensity.
SMA of TII:
An additional SMA is applied to the TII (matii) to smooth out fluctuations and provide a clearer long-term trend signal.
The SMA of TII is plotted in orange, offering a reference for long-term trend analysis.
Determining Potential Price Movements:
For Short-Term Traders:
When the blue TII line crosses above the orange SMA of TII line, it indicates a potential buy signal.
When the blue TII line crosses below the orange SMA of TII line, it indicates a potential sell signal.
For Long-Term Traders:
When the orange SMA of TII line crosses above the highlighted 0 line, it indicates a potential buy signal.
When the orange SMA of TII line crosses below the highlighted 0 line, it indicates a potential sell signal.
Plotting and Visualization:
The TII and its SMA are plotted with distinct colors for easy identification.
A horizontal line at 0 is plotted in gray to serve as a reference point for long-term trend signals.
The background color changes based on the value of the SMA of TII (matii):
Green background for matii values above 0, indicating bullish conditions.
Red background for matii values below 0, indicating bearish conditions.
Utility and Potential Usage:
The "Uptrick: Intensity Index" indicator is a powerful tool for both short-term and long-term traders, offering clear buy and sell signals based on the crossover of the TII and its SMA, as well as the position of the SMA relative to the zero line.
By consolidating multiple moving averages and their relative positions into a single indicator, traders can gain comprehensive insights into market trends and intensity.
The ability to adjust all inputs and toggle visibility options enhances the flexibility and utility of the indicator, making it suitable for various trading styles and market conditions.
Through its versatile design and advanced features, the "Uptrick: Intensity Index" indicator equips traders with actionable insights into trend intensity and potential price movements. By integrating this robust tool into their trading strategies, traders can navigate the markets with greater precision and confidence, thereby enhancing their trading outcomes.
WHAT SETTINGS TO HAVE FOR THE MOVING AVERAGE:
Short-term traders (day traders) might prefer a shorter SMA length (e.g., 5-20 periods) as they are looking for quick signals and react to price changes more rapidly.
Medium-term traders (swing traders) might opt for a medium SMA length (e.g., 20-50 periods) which can filter out some noise and provide a clearer signal on the trend.
Long-term traders (position traders) might choose a longer SMA length (e.g., 50-200 periods) to get a broader view of the market trend and avoid reacting to short-term fluctuations.
Versatile Moving Average StrategyVersatile Moving Average Strategy (VMAS)
Overview:
The Versatile Moving Average Strategy (VMAS) is designed to provide traders with a flexible approach to trend-following, utilizing multiple types of moving averages. This strategy allows for customization in choosing the moving average type and length, catering to various market conditions and trading styles.
Key Features:
- Multiple Moving Average Types: Choose from SMA, EMA, SMMA (RMA), WMA, VWMA, HULL, LSMA, and ALMA to best suit your trading needs.
- Customizable Inputs: Adjust the moving average length, source of price data, and stop-loss source to fine-tune the strategy.
- Target Percent: Set the percentage difference between successive profit targets to manage your risk and rewards effectively.
- Position Management: Enable or disable long and short positions, allowing for versatility in different market conditions.
- Commission and Slippage: The strategy includes realistic commission settings to ensure accurate backtesting results.
Strategy Logic:
1. Moving Average Calculation: The selected moving average is calculated based on user-defined parameters.
2. Entry Conditions:
- A long position is entered when the entry source crosses over the moving average, if long positions are enabled.
- A short position is entered when the entry source crosses under the moving average, if short positions are enabled.
3. Stop-Loss: Positions are closed if the stop-loss source crosses the moving average in the opposite direction.
4. Profit Targets: Multiple profit targets are defined, with each target set at an incremental percentage above (for long positions) or below (for short positions) the entry price.
Default Properties:
- Account Size: $10000
- Commission: 0.01% per trade
- Risk Management: Positions are sized to risk 80% of the equity per trade, because we get very tight stoploss when position is open.
- Sample Size: Backtesting has been conducted to ensure a sufficient sample size of trades, ideally more than 100 trades.
How to Use:
1. Configure Inputs: Set your preferred moving average type, length, and other input parameters.
2. Enable Positions: Choose whether to enable long, short, or both types of positions.
3. Backtest and Analyze: Run backtests with realistic settings and analyze the results to ensure the strategy aligns with your trading goals.
4. Deploy and Monitor: Once satisfied with the backtesting results, deploy the strategy in a live environment and monitor its performance.
This strategy is suitable for traders looking to leverage moving averages in a versatile and customizable manner. Adjust the parameters to match your trading style and market conditions for optimal results.
Note: Ensure the strategy settings used for publication are the same as those described here. Always conduct thorough backtesting before deploying any strategy in a live trading environment.
IsAlgo - CandleWave Channel Strategy► Overview:
The CandleWave Channel Strategy uses an exponential moving average (EMA) combined with a custom true range function to dynamically calculate a multi-level price channel, helping traders identify potential trend reversals and price pullbacks.
► Description:
The CandleWave Channel Strategy is built around an EMA designed to identify potential reversal points in the market. The channel’s main points are calculated using this EMA, which serves as the foundation for the strategy’s dynamic price channel. The channel edges are determined using a proprietary true range function that measures the distance between the highs and lows of price movements over a specific period. By factoring in the maximum distance between highs and lows and averaging these values over the period, the strategy creates a responsive channel that adapts to current market conditions. The channel consists of five levels, each representing different degrees of trend tension.
The strategy continuously monitors the price in relation to the channel edges. When a candle closes outside one of these edges, it indicates a potential price reversal. This outside-close candle acts as a signal for a possible trend change, prompting the strategy to prepare for a trade entry. Upon detecting an outside-close candle, the strategy triggers an entry. The logic behind this is that when the price moves outside the defined channel, it is likely to revert back within the channel and move towards the opposite edge. The strategy aims to capitalize on this reversion by entering trades based on these signals.
Traders can adjust the channel’s length, levels, and minimum distance to tailor it to different market conditions. They can also define the characteristics of the entry candle, such as its size, body, and relative position to previous candles, to ensure it meets specific conditions before triggering a trade. Additionally, the strategy permits the specification of trading hours and days, enabling traders to focus on preferred market periods. Exit can be configured based on profit/loss limits, trade duration, and band reversal signals or other criteria.
How it Works:
Channel Calculation: The strategy continuously updates the channel edges using the EMA and true range function.
Signal Detection: It waits for a candle to close outside the channel edges.
Trade Entry: When an outside-close candle is detected, the strategy enters a trade expecting the price to revert to the opposite channel edge.
Customization: Users can define the characteristics of the entry candle, such as its size relative to previous candles, to ensure it meets specific conditions before triggering a trade.
↑ Long Trade Example:
The entry candle closes below the channel level, indicating a potential upward reversal. The strategy enters a long position expecting the price to move towards the upper levels.
↓ Short Trade Example:
The entry candle closes above the channel level, signaling a potential downward reversal. The strategy enters a short position anticipating the price to revert towards the lower levels.
► Features and Settings:
⚙︎ Channel: Adjust the channel’s length, levels, and minimum distance to suit different market conditions and trading styles.
⚙︎ Entry Candle: Customize entry criteria, including candle size, body, and relative position to previous candles for accurate signal generation.
⚙︎ Trading Session: Define specific trading hours during which the strategy operates, restricting trades to preferred market periods.
⚙︎ Trading Days: Specify active trading days to avoid certain days of the week.
⚙︎ Backtesting: backtesting for a selected period to evaluate strategy performance. This feature can be deactivated if not needed.
⚙︎ Trades: Configure trade direction (long, short, or both), position sizing (fixed or percentage-based), maximum number of open trades, and daily trade limits.
⚙︎ Trades Exit: Set profit/loss limits, specify trade duration, or exit based on band reversal signals.
⚙︎ Stop Loss: Choose from various stop-loss methods, including fixed pips, ATR-based, or highest/lowest price points within a specified number of candles. Trades can also be closed after a certain number of adverse candle movements.
⚙︎ Break Even: Adjust stop loss to break even once predefined profit levels are reached, protecting gains.
⚙︎ Trailing Stop: Implement a trailing stop to adjust the stop loss as the trade becomes profitable, securing gains and potentially capturing further upside.
⚙︎ Take Profit: Set up to three take-profit levels using methods such as fixed pips, ATR, or risk-to-reward ratios. Alternatively, specify a set number of candles moving in the trade’s direction.
⚙︎ Alerts: Comprehensive alert system to notify users of significant actions, including trade openings and closings. Supports dynamic placeholders for take-profit levels and stop-loss prices.
⚙︎ Dashboard: Visual display on the chart providing detailed information about ongoing and past trades, aiding users in monitoring strategy performance and making informed decisions.
► Backtesting Details:
Timeframe: 30-minute GBPJPY chart
Initial Balance: $10,000
Order Size: 500 units
Commission: 0.02%
Slippage: 5 ticks
Bollinger Bands with Squeeze and SMA Indicator Description: BB+SMA
Overview:
Bollinger Bands (BB): Computes and plots three bands based on a selected moving average type (SMA, EMA, SMMA (RMA), WMA, VWMA) and standard deviation multiplier. The bands indicate potential support and resistance levels relative to price volatility.
Squeeze Condition: Detects periods of low volatility (squeeze) when the distance between the upper and lower Bollinger Bands narrows significantly. This condition can signal potential price breakouts.
Simple Moving Average (SMA): Calculates and plots a simple moving average based on user-defined length. It smooths price data to highlight trends and potential reversals.
Smoothing Line: Further enhances the SMA by applying different smoothing methods (SMA, EMA, SMMA (RMA), WMA, VWMA) over a specified smoothing length. It helps in identifying smoother trends and changes in direction.
Key Components:
Inputs: Users can adjust parameters such as Bollinger Bands length, type of moving average, standard deviation multiplier, squeeze condition length, squeeze threshold percentage, SMA length, smoothing method, and smoothing length.
Plotting: Displays the Bollinger Bands (basis, upper, lower), SMA, squeeze condition bands (basis, upper, lower), and a smoothing line on the chart.
Visualization: Utilizes different colors and line styles for clarity in visualizing each component's plot on the chart.
Purpose:
Helps traders identify potential price volatility, trend reversals, and breakout opportunities using Bollinger Bands, SMA, squeeze conditions, and smoothed moving averages.
Enhances technical analysis by providing clear visual cues for trend strength and potential entry/exit points based on the specified parameters.
Conclusion:
The "BB+SMA" indicator integrates multiple technical analysis tools into a single script, offering traders a comprehensive approach to analyzing price movements and making informed trading decisions directly on TradingView charts.
Adaptive Trend Classification: Moving Averages [InvestorUnknown]Adaptive Trend Classification: Moving Averages
Overview
The Adaptive Trend Classification (ATC) Moving Averages indicator is a robust and adaptable investing tool designed to provide dynamic signals based on various types of moving averages and their lengths. This indicator incorporates multiple layers of adaptability to enhance its effectiveness in various market conditions.
Key Features
Adaptability of Moving Average Types and Lengths: The indicator utilizes different types of moving averages (EMA, HMA, WMA, DEMA, LSMA, KAMA) with customizable lengths to adjust to market conditions.
Dynamic Weighting Based on Performance: ] Weights are assigned to each moving average based on the equity they generate, with considerations for a cutout period and decay rate to manage (reduce) the influence of past performances.
Exponential Growth Adjustment: The influence of recent performance is enhanced through an adjustable exponential growth factor, ensuring that more recent data has a greater impact on the signal.
Calibration Mode: Allows users to fine-tune the indicator settings for specific signal periods and backtesting, ensuring optimized performance.
Visualization Options: Multiple customization options for plotting moving averages, color bars, and signal arrows, enhancing the clarity of the visual output.
Alerts: Configurable alert settings to notify users based on specific moving average crossovers or the average signal.
User Inputs
Adaptability Settings
λ (Lambda): Specifies the growth rate for exponential growth calculations.
Decay (%): Determines the rate of depreciation applied to the equity over time.
CutOut Period: Sets the period after which equity calculations start, allowing for a focus on specific time ranges.
Robustness Lengths: Defines the range of robustness for equity calculation with options for Narrow, Medium, or Wide adjustments.
Long/Short Threshold: Sets thresholds for long and short signals.
Calculation Source: The data source used for calculations (e.g., close price).
Moving Averages Settings
Lengths and Weights: Allows customization of lengths and initial weights for each moving average type (EMA, HMA, WMA, DEMA, LSMA, KAMA).
Calibration Mode
Calibration Mode: Enables calibration for fine-tuning inputs.
Calibrate: Specifies which moving average type to calibrate.
Strategy View: Shifts entries and exits by one bar for non-repainting backtesting.
Calculation Logic
Rate of Change (R): Calculates the rate of change in the price.
Set of Moving Averages: Generates multiple moving averages with different lengths for each type.
diflen(length) =>
int L1 = na, int L_1 = na
int L2 = na, int L_2 = na
int L3 = na, int L_3 = na
int L4 = na, int L_4 = na
if robustness == "Narrow"
L1 := length + 1, L_1 := length - 1
L2 := length + 2, L_2 := length - 2
L3 := length + 3, L_3 := length - 3
L4 := length + 4, L_4 := length - 4
else if robustness == "Medium"
L1 := length + 1, L_1 := length - 1
L2 := length + 2, L_2 := length - 2
L3 := length + 4, L_3 := length - 4
L4 := length + 6, L_4 := length - 6
else
L1 := length + 1, L_1 := length - 1
L2 := length + 3, L_2 := length - 3
L3 := length + 5, L_3 := length - 5
L4 := length + 7, L_4 := length - 7
// Function to calculate different types of moving averages
ma_calculation(source, length, ma_type) =>
if ma_type == "EMA"
ta.ema(source, length)
else if ma_type == "HMA"
ta.sma(source, length)
else if ma_type == "WMA"
ta.wma(source, length)
else if ma_type == "DEMA"
ta.dema(source, length)
else if ma_type == "LSMA"
lsma(source,length)
else if ma_type == "KAMA"
kama(source, length)
else
na
// Function to create a set of moving averages with different lengths
SetOfMovingAverages(length, source, ma_type) =>
= diflen(length)
MA = ma_calculation(source, length, ma_type)
MA1 = ma_calculation(source, L1, ma_type)
MA2 = ma_calculation(source, L2, ma_type)
MA3 = ma_calculation(source, L3, ma_type)
MA4 = ma_calculation(source, L4, ma_type)
MA_1 = ma_calculation(source, L_1, ma_type)
MA_2 = ma_calculation(source, L_2, ma_type)
MA_3 = ma_calculation(source, L_3, ma_type)
MA_4 = ma_calculation(source, L_4, ma_type)
Exponential Growth Factor: Computes an exponential growth factor based on the current bar index and growth rate.
// The function `e(L)` calculates an exponential growth factor based on the current bar index and a given growth rate `L`.
e(L) =>
// Calculate the number of bars elapsed.
// If the `bar_index` is 0 (i.e., the very first bar), set `bars` to 1 to avoid division by zero.
bars = bar_index == 0 ? 1 : bar_index
// Define the cuttime time using the `cutout` parameter, which specifies how many bars will be cut out off the time series.
cuttime = time
// Initialize the exponential growth factor `x` to 1.0.
x = 1.0
// Check if `cuttime` is not `na` and the current time is greater than or equal to `cuttime`.
if not na(cuttime) and time >= cuttime
// Use the mathematical constant `e` raised to the power of `L * (bar_index - cutout)`.
// This represents exponential growth over the number of bars since the `cutout`.
x := math.pow(math.e, L * (bar_index - cutout))
x
Equity Calculation: Calculates the equity based on starting equity, signals, and the rate of change, incorporating a natural decay rate.
pine code
// This function calculates the equity based on the starting equity, signals, and rate of change (R).
eq(starting_equity, sig, R) =>
cuttime = time
if not na(cuttime) and time >= cuttime
// Calculate the rate of return `r` by multiplying the rate of change `R` with the exponential growth factor `e(La)`.
r = R * e(La)
// Calculate the depreciation factor `d` as 1 minus the depreciation rate `De`.
d = 1 - De
var float a = 0.0
// If the previous signal `sig ` is positive, set `a` to `r`.
if (sig > 0)
a := r
// If the previous signal `sig ` is negative, set `a` to `-r`.
else if (sig < 0)
a := -r
// Declare the variable `e` to store equity and initialize it to `na`.
var float e = na
// If `e ` (the previous equity value) is not available (first calculation):
if na(e )
e := starting_equity
else
// Update `e` based on the previous equity value, depreciation factor `d`, and adjustment factor `a`.
e := (e * d) * (1 + a)
// Ensure `e` does not drop below 0.25.
if (e < 0.25)
e := 0.25
e
else
na
Signal Generation: Generates signals based on crossovers and computes a weighted signal from multiple moving averages.
Main Calculations
The indicator calculates different moving averages (EMA, HMA, WMA, DEMA, LSMA, KAMA) and their respective signals, applies exponential growth and decay factors to compute equities, and then derives a final signal by averaging weighted signals from all moving averages.
Visualization and Alerts
The final signal, along with additional visual aids like color bars and arrows, is plotted on the chart. Users can also set up alerts based on specific conditions to receive notifications for potential trading opportunities.
Repainting
The indicator does support intra-bar changes of signal but will not repaint once the bar is closed, if you want to get alerts only for signals after bar close, turn on “Strategy View” while setting up the alert.
Conclusion
The Adaptive Trend Classification: Moving Averages Indicator is a sophisticated tool for investors, offering extensive customization and adaptability to changing market conditions. By integrating multiple moving averages and leveraging dynamic weighting based on performance, it aims to provide reliable and timely investing signals.
Swing High/Low & EMA Cross AlertScript Description:
This script on TradingView combines the detection of Swing High/Low points with exponential moving average (EMA) crossovers to provide buy and sell alerts and to mark swing points on the chart.
What the Script Does:
Swing High/Low Detection:
Uses the ta.pivothigh function to detect significant high points and the ta.pivotlow function to detect significant low points.
For each detected point, the script checks if it is a new higher high (HH) or lower high (LH) for the highs, and a new lower low (LL) or higher low (HL) for the lows.
Creates visual labels to identify these points on the chart, helping traders to visualize potential reversal points.
EMA Crossover:
Calculates two EMAs: a fast EMA (fastEMA) with a default period of 50 and a slow EMA (slowEMA) with a default period of 200.
Detects bullish crossovers (when fastEMA crosses above slowEMA) and bearish crossunders (when fastEMA crosses below slowEMA).
Generates buy and sell alerts based on these crossovers.
How the Script Works:
EMA Calculation: EMAs are calculated using the closing prices and user-defined periods.
Swing High/Low Detection: Uses the high and low values from the previous length bars to determine the swing points.
Alert Generation: Alerts are triggered when crossovers between the EMAs occur.
How to Use the Script:
Add to Chart: Insert the script into TradingView and apply it to the desired chart.
Configure Parameters:
Adjust the detection period for swing points (length).
Configure the periods for the EMAs (fastLen and slowLen).
Customize the colors for the swing point labels as per your preference.
Monitor Alerts: Use the EMA crossover alerts to make buy or sell decisions. Observe the swing point labels to identify potential trend reversals.
Justification for the Combination:
EMAs: Widely used to identify trend direction. Combining a fast EMA with a slow EMA helps capture both short-term and long-term trend changes.
Swing High/Low: Identifies reversal points in price, which are crucial for determining potential entry and exit points in trades.
Combination:
Combining EMAs and Swing High/Low provides a comprehensive view of price behavior, helping traders to effectively identify trends and reversal points.
This script is useful for traders who want to combine trend analysis (via EMAs) with the identification of reversal points (Swing High/Low), providing a more complete view of price behavior on the chart.
HTF Dynamic EMA Smoothing Indicator [CHE] with Kernel SelectionThe Dynamic EMA Smoothing Indicator with Kernel Selection is a powerful Pine Script indicator for TradingView designed to smooth moving averages and identify market trends more clearly. Here is a detailed description of its functionalities and settings:
Main Functions:
1. Time Period Display:
- Option to show or hide an info box displaying the current time period.
- Customizable info box: Users can adjust the size, position, and colors of the info box to suit their preferences.
2. Timeframe Type Selection:
- Auto Timeframe: Automatically calculates the best timeframe based on the current resolution.
- Multiplier: Allows using an alternate timeframe as a multiple of the current resolution.
- Manual Resolution: Users can manually set a specific timeframe.
3. Colors:
- Custom colors for various graphical elements, including EMA lines and signals.
4. Basic Settings:
- EMA and Signal Periods: Defines the periods for the exponential moving averages (EMA) and signal lines.
- Smoothing Length and Kernel Type: Allows selecting the smoothing length and the type of kernel used for weighting the EMAs.
- ATR Multiplier: Defines the multiplier for the ATR (Average True Range) to identify relevant price ranges.
5. EMA Calculations:
- The indicator calculates a weighted EMA using several methods like Linear, Exponential, Epanechnikov, Triangular, and Cosine kernels.
- Smoothing is achieved by adding and removing values in a float array that stores the EMA values.
6. Plotting EMA and Signal Lines:
- The indicator plots the smoothed EMA and signal lines on the chart. The line colors change according to the trend direction (green for uptrend, red for downtrend).
7. Trading Signals:
- Long Signals: An upward arrow is displayed when the smoothed EMA indicates an uptrend.
- Short Signals: A downward arrow is displayed when the smoothed EMA indicates a downtrend.
- Alert Conditions: Alerts are triggered when long or short signals are detected.
8. ATR Bands:
- The indicator shows upper and lower ATR bands to identify potential support and resistance zones.
9. Time Period Display on Chart:
- A table is used to display the selected time period on the chart when the corresponding option is enabled.
This indicator offers extensive customization and allows traders to conduct complex market analyses using smoothed EMAs and custom timeframes. The integration of various kernels for smoothing makes it a versatile tool adaptable to different trading strategies.
EMA Proximity AlertThe EMA Proximity Alert Indicator is designed to help traders identify when the price of an asset is close to a set of user-defined Exponential Moving Averages (EMAs). This indicator is particularly useful for those who use multiple EMAs as part of their trading strategy and want to receive alerts when the price approaches these key levels.
Features
Customizable EMAs:
The indicator supports four customizable EMAs with default periods of 9, 21, 55, and 100. Users can adjust the lengths of these EMAs according to their preferences.
Proximity Alerts:
Users can set a proximity percentage for each EMA individually. The indicator will generate an alert when the closing price is within the specified percentage of the EMA.
Visual Representation:
The EMAs are plotted on the chart with distinct colors:
EMA 1 (default 9) - Blue
EMA 2 (default 21) - Orange
EMA 3 (default 55) - Green
EMA 4 (default 100) - Red
Background Highlight:
The background of the chart will be highlighted in a semi-transparent color when the price is close to any of the monitored EMAs, making it easy to identify these areas at a glance.
Alert Conditions:
The indicator includes alert conditions that can be used to trigger notifications in TradingView. When the price is close to a monitored EMA, an alert is triggered with a message indicating which EMA is close.
Tooltip Symbols:
When the price is within the specified proximity to a monitored EMA, a small circular symbol is plotted above the bar. Hovering over this symbol displays a tooltip with information about the proximity, including the EMA length and the percentage.
Pivot Points with MID LevelsThis indicator shows the Standard Pivot Points level based on daily values that can act as support and resistance. It is used by a variety of traders around the world. You can select which time frame Pivot Point Levels you'd like. Daily, weekly etc... Perfect for swing trading or day trading.
Pivot Points- Shows 3 levels of resistance, the Pivot Point and 3 levels of support
(R3, R2, R1, PIVOT POINT, S1, S2, S3
MID Levels- The MID levels are 50% retracement from the pivot point level above it and below
Example- R3, MID, R2, MID, R1, MID, PIVOT POINT, MID, S1, MID, S2, MID, S3
With this indicator you will also have the option to show the Previous days High and Low that are also important levels. On gap up/down days it is always interesting to see if price will close the gap, hence the important level to note.
PDH= Previous Days High
PDL= Previous Days Low
I have added a feature that you can now select specific color to each level and the line style for each level to help understand which levels are being show by personal needs.
Happy Trading
Nasan Moving Average with ForecastThe "Nasan Moving Average with Forecast" indicator is a technical analysis forecasting tool that combines the principles of historical data analysis and random walk theory. It calculates a customized moving average (Nasan Moving Average) by integrating price data and statistical measures and projects future price points by generating forecast values within calculated volatility bounds, creating a dynamic and insightful visualization of potential market movements. This indicator to blend past market behavior with probabilistic future trends to enhance forecasting.
Input Parameters:
len: Differencing length (default 21, Use a minimum of 5 and for lower time frames less than 15 min use values between 300 -3000)
len1: Correction Factor Length 1 (default 21, this determines the length of the MA you want , eg. 10 MA, 50 MA, 100 MA, )
len2: Correction Factor Length 2 (default 9, this works best if it is ~ </=1/2 of len1 )
len3: Smoothing Length (default 5, I would not change this and only use if I want to introduce lag where you want to use it for cross over strategies).
forecast_points: Number of points to forecast (default 30).
m: Multiplier for standard deviation (default 2.5).
bl: Block length for calculating max/min values (default 100).
use_calculated_max_min: Boolean to decide whether to use calculated max/min values.
Nasan Moving Average Calculation:
Calculates the simple moving average (mean) and standard deviation (sd) of the typical price (hlc3).
Computes intermediate variables (a, b, c, etc.) based on log transformation and cumulative sum.
Applies weighted moving averages (wma) to these intermediate variables to smooth them and derive the final value c6.
Plots c6 as the Nasan Moving Average if the bar is confirmed. To learn more see Nasan Moving Average.
Forecast Points Calculation:
Calculates maximum (max_val) and minimum (min_val) values for the forecast, either using a fixed value or based on standard deviation and a multiplier.
Initializes an array to store forecast values and creates polyline objects for plotting.
If the current bar is one of the last three bars and confirmed:
Clears and reinitializes the polyline.
Initializes the first forecast value from the cumulative sum c.
Generates subsequent forecast values using a random value within the range .
Updates the forecast array and plots the forecast points as an orange curved polyline.
Plotting Max/Min Values:
Plots max_val and min_val as green and red lines, respectively, to indicate the bounds of the forecast range.
Components of the Forecasting Model
Historical Dependence:
Nasan Moving Average Calculation: The script calculates a custom moving average (c6) that incorporates historical price data (hlc3), standard deviations (sd), and weighted moving averages (wma). This part of the code processes historical data to create a smoothed representation of the price trend.
Max/Min Value Calculation: The maximum (max_val) and minimum (min_val) values for the forecast can be calculated based on the historical standard deviation of a transformed variable b over a block length (bl). This introduces historical volatility into the bounds for the forecast.
Random Walk Model:
Random Value Generation: Within the forecast points calculation, a random value (random_val) is generated for each forecast point within the range . This random value introduces stochasticity into the model, characteristic of a random walk process.
Cumulative Sum for Forecasting: The script uses a cumulative sum (prev_f + random_val) to generate the next forecast point (next_f). This is a typical approach in random walk models where each new point is based on the previous point plus some random noise.
Explanation of the Forecast Model
Random Walk Characteristics: Each new forecast point is generated by adding a random value to the previous point, making the model a random walk with drift, where the drift is influenced by historical correction factors (c1, c4).
Historical and Statistical Dependence: The bounds of the random values and the initial conditions are derived from historical data, ensuring that the forecast respects historical volatility and trends.
The forecasting model in the script is a hybrid approach: It uses a random walk to generate future points, characterized by adding random values to the previous forecasted value.
The historical and statistical dependence is incorporated through initial conditions, scaling factors, and bounds derived from historical price data and its statistical properties.
This combination ensures that the forecasts are not purely stochastic but are grounded in historical price behavior, making the model more robust and potentially more accurate in reflecting market conditions.
Nasan Moving AverageNasan Moving Average belong to the group of moving average which provides a high degree of smoothness with very low lag.
The calculation process involves several steps to analyze the typical price of a financial asset over specific periods. It starts by computing a simple moving average and standard deviation of the typical price. Then, it standardizes (differencing TP - Average Typical price over previous n periods) the price and applies an inverse hyperbolic sine transformation to the standardized value. The transformed values are summed cumulatively, and various weighted moving averages are calculated to adjust and smooth the data. The final output is a smoothed signal with reduced lag.
Input Parameters:
len: Differencing length (default 21, Use a minimum of 5 and for lower time frames less than 15 min use values between 300 -3000)
len1: Correction Factor Length 1 (default 21, this determines the length of the MA you want , eg. 10 MA, 50 MA, 100 MA, )
len2: Correction Factor Length 2 (default 9, this works best if it is ~ </=1/2 of len1 )
len3: Smoothing Length (default 5, I would not change this and only use if I want to introduce lag where you want to use it for cross over strategies).
Differencing and Standardization:
The code calculates the standardized price a by differencing the typical price and normalizing it using the mean and standard deviation. This step standardizes the price changes.
Transformation:
The transformation using logarithms and square roots (b) aim to stabilize the variance and make the distribution more normal-like, improving the robustness of the cumulative sum c.
Cumulative Sum:
The cumulative sum c of the transformed series helps in integrating the series over time, capturing the overall trend and movement.
Correction Factors:
Correction factors c1 and c4 adjust the cumulative sum based on weighted averages, to correct any biases or to align it with the typical price.
Smoothing:
The final result c6 is smoothed using a weighted moving average, reducing noise and making it easier to interpret trends.
Moving average to price cloudHi all!
This indicator shows when the price crosses the defined moving average. It plots a green or red cloud (depending on trend) and the moving average. It also plots an arrow when the trend changes (this can be disabled in 'style'->'labels' in the settings).
The moving average itself can be used as dynamic support/resistance. The trend will change based on your settings (described below). By default the trend will change when the whole bar is above/below the moving average for 2 bars (that's closed). This can be changed by "Source" and "Bars".
Settings
• Length (choose the length of the moving average. Defaults to 21)
• Type (choose what type of moving average).
- "SMA" (Simple Moving Average)
- "EMA" (Exponential Moving Average)
- "HMA" (Hull Moving Average)
- "WMA" (Weighted Moving Average)
- "VWMA" (Volume Weighted Moving Average)
- "DEMA" (Double Exponential Moving Average)
Defaults to"EMA".
• Source (Define the price source that must be above/below the moving average for the trend to change. Defaults to 'High/low (passive)')
- 'Open' The open of the bar has to cross the moving average
- 'Close' The close of the bar has to cross the moving average
- 'High/low (passive)' In a down trend: the low of the bar has to cross the moving average
- 'High/low (aggressive)' In a down trend: the high of the bar has to cross the moving average
• Source bar must be close. Defaults to 'true'.
• Bars (Define the number bars whose value (defined in 'Source') must be above/below the moving average. All the bars (defined by this number) must be above/below the moving average for the trend to change. Defaults to 2.)
Let me know if you have any questions.
Best of trading luck!
Uptrick: Complex WMA Indicator with Trend Transitions
The "Complex WMA Indicator with Trend Transitions" is a technical analysis tool designed to help traders identify and visualize market trends using three Weighted Moving Averages (WMAs) of varying lengths. The primary purpose of this indicator is to provide a clearer and more nuanced view of market trends by highlighting bullish and bearish phases and filtering out noise, thereby enabling more informed trading decisions.
Detailed Explanation
This indicator allows users to set the lengths of three WMAs through input parameters. The default lengths are set to 10, 20, and 50, but users can customize these values according to their trading strategy. The WMAs are calculated using the closing prices of the specified periods, and the results are plotted on the chart in red, green, and blue, corresponding to the first, second, and third WMAs, respectively.
The indicator defines two primary conditions for trend analysis: bullish and bearish trends. A bullish trend is identified when both the shorter WMAs (first and second) are above the longest WMA (third), indicating upward momentum. Conversely, a bearish trend is identified when both the shorter WMAs are below the longest WMA, signaling downward momentum.
Crossover Signals and Trend Transitions
The script also identifies crossover signals between the first and second WMAs. A bullish crossover occurs when the first WMA crosses above the second WMA, generating a buy signal. This event is marked on the chart with a green upward label. A bearish crossover, marked with a red downward label, occurs when the first WMA crosses below the second WMA, indicating a sell signal.
To track the trend transitions effectively, the indicator employs a state machine. It maintains two variables, currentTrend and prevTrend, to store the current and previous trend states. The trend state is updated based on the defined trend conditions. When the trend changes from one state to another (e.g., from a bullish trend to a bearish trend), the indicator creates a label at the beginning of the new trend to mark this transition. This helps traders quickly recognize significant changes in market direction.
Visual Enhancements
The indicator enhances visual clarity by coloring the background of the chart based on the identified trend. When a bullish trend is detected, the background turns green, and when a bearish trend is identified, it turns red. The script ensures that only clear bullish and bearish trends are highlighted by excluding the "No Clear Trend" state, which reduces noise and prevents false signals.
Alerts
To further aid traders, the indicator includes alert conditions for both bullish and bearish crossovers. These alerts notify traders when a crossover occurs, enabling them to take timely action based on the identified signals.
Purpose and Unique Features
The primary purpose of the "Complex WMA Indicator with Trend Transitions" is to provide traders with a more precise and actionable analysis of market trends. Unlike simple moving average indicators, this tool uses multiple WMAs and incorporates a state machine to track and highlight trend transitions more effectively. By focusing on clear trend signals and filtering out noise, it helps traders make more informed decisions.
This indicator differs from other moving average-based tools in several ways:
Multi-WMA Analysis: It uses three WMAs of different lengths, providing a more comprehensive view of the market trend.
State Machine for Trends: The use of a state machine to track trend transitions ensures that only significant trends are highlighted, reducing noise.
Visual Clarity: The combination of colored backgrounds and labeled transitions makes it easier for traders to identify and act on trends.
Customization: Users can adjust the lengths of the WMAs to suit their trading strategies, making the indicator versatile.
In summary, the "Complex WMA Indicator with Trend Transitions" offers a sophisticated and customizable approach to trend analysis, providing clear visual cues and alerts for significant market movements, which sets it apart from simpler moving average indicators.
Support and Resistance Breakouts By RICHIESupport and resistance are fundamental concepts in technical analysis used to identify price levels on charts that act as barriers, preventing the price of an asset from getting pushed in a certain direction. Here’s a detailed description of each and how breakout strategies are typically used:
Support
Support is a price level where a downtrend can be expected to pause due to a concentration of demand. As the price of an asset drops, it hits a level where buyers tend to step in, causing the price to rebound.
Support Level Identification: Support levels are identified by looking at historical data where prices have repeatedly fallen to a certain level but have then rebounded.
Strength of Support: The more times an asset price hits a support level without breaking below it, the stronger that support level is considered to be.
Resistance
Resistance is a price level where an uptrend can be expected to pause due to a concentration of selling interest. As the price of an asset increases, it hits a level where sellers tend to step in, causing the price to drop.
Resistance Level Identification: Resistance levels are identified by looking at historical data where prices have repeatedly risen to a certain level but have then fallen back.
Strength of Resistance: The more times an asset price hits a resistance level without breaking above it, the stronger that resistance level is considered to be.
Breakouts
A breakout occurs when the price moves above a resistance level or below a support level with increased volume. Breakouts can be significant because they suggest a change in supply and demand dynamics, often leading to strong price movements.
Breakout Above Resistance: Indicates a bullish market sentiment. Traders often interpret this as a sign to enter a long position (buy).
Breakout Below Support: Indicates a bearish market sentiment. Traders often interpret this as a sign to enter a short position (sell).
Breakout Trading Strategies
Confirmation: Wait for a candle to close beyond the support or resistance level to confirm the breakout.
Volume: Increased volume on a breakout adds credibility, suggesting that the price move is supported by strong buying or selling interest.
Retest: Sometimes, after a breakout, the price will return to the breakout level to test it as a new support or resistance. This retest offers another entry point.
Stop-Loss: Place stop-loss orders just below the resistance (for long positions) or above the support (for short positions) to limit potential losses in case of a false breakout.
Take-Profit: Identify target levels for taking profits. These can be set based on previous support/resistance levels or using tools like Fibonacci retracements.
MAHA Luxmi AI Candles [Overlay]The MAHA Luxmi AI Candles trading indicator is a sophisticated tool designed to assist traders in identifying potential trading opportunities by utilizing a combination of Moving Average (MA) and Heikin-Ashi (HA) techniques, further enhanced with a custom formula. Here’s a detailed breakdown of its functionalities:
1. Integration of MA and HA Techniques
MAHA stands for Moving Average and Heikin-Ashi. This indicator modifies these traditional techniques with a unique custom formula, aiming to provide more accurate and reliable signals for traders. The combination enhances the smoothing effect of Moving Averages with the trend indication of Heikin-Ashi candles.
2. Four-Colored Candles for Trend Indication
The indicator uses a color-coded system to denote different market conditions and potential trading opportunities:
- Green Candles: These candles indicate a potential long opportunity. The appearance of a green candle suggests that the market is showing bullish tendencies, prompting traders to consider entering a long position.
- Blue Candles: These candles signify an active pullback within a bullish trend. The blue candle warns traders of a possible temporary reversal within the overall bullish trend, suggesting caution and the need for confirmation before continuing with a long position or preparing for a potential reversal.
- Red Candles: These candles represent a potential short opportunity. A red candle indicates bearish market conditions, signaling traders to consider entering a short position.
- Yellow Candles: These candles denote an active pullback within a bearish trend. The presence of a yellow candle indicates a temporary reversal within the bearish trend, urging traders to be cautious with short positions and look for signs of continuation or reversal.
3. MAHA Bars for Distance and Area of Interest
In addition to the colored candles, the MAHA Luxmi AI Candles indicator also plots MAHA bars. These bars share the same color coding and usage as the candles, providing a consistent visual representation of market conditions:
- Green Bars: Indicate a potential long opportunity, aligning with green candles.
- Blue Bars: Show an active pullback in a bullish trend, aligning with blue candles.
- Red Bars: Represent a potential short opportunity, aligning with red candles.
- Yellow Bars: Indicate an active pullback in a bearish trend, aligning with yellow candles.
The MAHA bars help traders gauge the distance between the current price and the area of interest, enhancing their understanding of how close or far the price is from key levels identified by the MAHA formula. This aids in making better decisions regarding entry and exit points.
4. Trailing Stop Loss Feature
The base of the MAHA Bars can also be used as a trailing stop loss. This feature provides a dynamic stop loss level that adjusts with the market, helping traders lock in profits and limit losses by following the trend. When the price moves favorably, the trailing stop loss adjusts accordingly, ensuring that traders can capitalize on market movements while minimizing risk.
Usage and Benefits
- Trend Identification: The color-coded system simplifies the identification of market trends and potential reversals, making it easier for traders to understand market dynamics at a glance.
- Pullback and Reversal Alerts: The blue and yellow candles/bars alert traders to potential pullbacks and reversals, providing crucial information for managing trades and avoiding false signals.
- Distance Measurement: The MAHA bars help traders measure the distance between the current price and the areas of interest, enhancing their ability to assess the risk and potential reward of trades.
- Trailing Stop Loss: The base of the MAHA Bars can be used as a trailing stop loss, providing a dynamic risk management tool that adapts to market conditions.
Overall, the MAHA Luxmi AI Candles trading indicator is a powerful tool for traders looking to leverage the combined strengths of Moving Averages and Heikin-Ashi techniques. The intuitive color-coded system, additional MAHA bars, and the trailing stop loss feature make it an essential component of a trader’s toolkit for identifying trends, managing risk, and identifying trading opportunities.
IsAlgo - Support & Resistance Strategy► Overview:
The Support & Resistance Strategy is designed to identify critical support and resistance levels and execute trades when the price crosses these levels. Utilizing a combination of a moving average, ATR indicator, and the highest and lowest prices, this strategy aims to accurately pinpoint entry and exit points for trades based on market movements.
► Description:
The Support & Resistance Strategy leverages the ATR (Average True Range) and a moving average to identify key support and resistance levels. The strategy calculates these levels by measuring the distance between the current market price and the moving average. This distance is continuously compared with each new candle to provide an estimate of the support and resistance levels.
The ATR is utilized to determine the width of these levels, ensuring they adjust to market volatility. To validate these levels, the strategy counts how often a candle’s low or high touches the estimated support or resistance and then bounces back. A higher frequency of such touches indicates a stronger, more reliable level.
Once the levels are confirmed, the strategy waits for a candle to close above the resistance level or below the support level. A candle closing above the resistance triggers a long entry, while a candle closing below the support triggers a short entry.
The strategy incorporates multiple stop-loss options to manage risk effectively. These options include setting stop-loss levels based on fixed pips, ATR calculations, or the highest/lowest prices of previous candles. Up to three take-profit levels can be set using fixed pips, ATR, or risk-to-reward ratios. A trailing stop feature adjusts the stop loss as the trade moves into profit, and a break-even feature moves the stop loss to the entry price once a certain profit level is reached.
Additionally, the strategy can close trades if the price crosses the opposite support or resistance level or if a candle moves significantly against the trade direction.
↑ Long Entry Example:
↓ Short Entry Example:
► Features & Settings:
⚙︎ Levels: Configure the length, width, and ATR period for support and resistance levels.
⚙︎ Moving Average: Use an Exponential Moving Average (EMA) to confirm trend direction. This can be enabled or disabled.
⚙︎ Entry Candle: Define the minimum and maximum body size and the body-to-candle size ratio for entry candles.
⚙︎ Trading Session: Specify the trading hours during which the strategy operates.
⚙︎ Trading Days: Select which days of the week the strategy is active.
⚙︎ Backtesting: Set a backtesting period with start and end dates. This feature can be deactivated.
⚙︎ Trades: Customize trade direction (long, short, or both), position sizing (fixed or percentage-based), maximum open trades, and daily trade limits.
⚙︎ Trades Exit: Choose from various exit methods, including profit/loss limits, trade duration, or crossing the opposite support/resistance level.
⚙︎ Stop Loss: Set stop-loss levels using fixed pips, ATR-based calculations, or the highest/lowest price within a specified number of previous candles.
⚙︎ Break Even: Adjust the stop loss to break-even once certain profit conditions are met.
⚙︎ Trailing Stop: Automatically adjust the stop loss as the trade moves into profit.
⚙︎ Take Profit: Define up to three take-profit levels using fixed pips, ATR, or risk-to-reward ratios based on the stop loss.
⚙︎ Alerts: Receive alerts for significant actions such as trade openings and closings, with support for dynamic values.
⚙︎ Dashboard: A visual display on the chart providing detailed information about ongoing and past trades.
► Backtesting Details:
Timeframe: 1-hour US30 chart
Initial Balance: $10,000
Order Size: 5 Units
Commission: $0.5 per contract
Slippage: 5 ticks
Stop Loss: Based on the opposite support/resistance level or break-even adjustments
Median Moving Average @shrilssThe "Median Moving Average" (MMA) It allows users to select from two moving average lengths—short and long—and plots the median moving average, which is the midpoint between these two averages. Colored green for upward trends and red for downward trends, enhancing visual analysis.
Additionally, users can choose from a range of moving average types including Simple (SMA), Exponential (EMA), Weighted (WMA), Double Exponential (DEMA), Triple Exponential (TEMA), Hull (HMA), and Volume Weighted (VWMA).
Color Hull Moving AverageDescription:
The Color Hull Moving Average (CHMA) is a technical indicator designed to smooth and remove lag from traditional moving averages, making it more responsive to price movements. This indicator automatically adjusts the color of the moving average to green when it is rising and red when it is falling, helping to identify trends in a more visual and sophisticated way.
Characteristics:
Period: User configurable (default: 20)
Data Source: Can be applied to any price series, such as closing, opening, high, low, etc.
Dynamic Colors: The HMA line changes color based on its direction, making it easy to see trends.
Green: Uptrend
Red: Downtrend
How to use:
Period Configuration: Adjust the period to improve improvements and reactivity according to the asset and timeframe analyzed.
Color Interpretation: Use color changes to identify inflection points in the market.
Combination with Other Indicators: The HMA can be combined with other technical indicators to validate entry and exit signals.
Warning: Although HMA is a powerful tool, we recommend using it in conjunction with other forms of analysis for best results.
