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Oversold

DBT MoMo v.4DBT MOMO Introduction: The MoMo is a TradingView indicator designed to evaluate momentum and give the user signals according to momentum shifts, strength, extensions, traps, and divergence. It’s an all in one oscillator that will make reading price action near term and long term much easier. Part One: Strength The MoMo consist of two major parts. A 3-candle back formula and a 24-candle back formula. The 3-candle back is called the Price Line (the histogram on the MoMo). The 24-candle back is called the Trend Line (the line on the MoMo). Both lines are placed into a range from 20 to -20. It can go higher than 20 or lower than -20, but this is extremely rare and short lived. A positive number indicates a bullish bias, a negative number indicates a bearish bias. When the Price or Trend line are ascending while below 0 this indicates that the bearish momentum is weakening. When the Price or Trend line are descending while above 0 this indicates that the bullish momentum is weakening. In a strong trend the Trend Line will likely flatten out around 15 or -15. While the Trend Line is flat the Price Line will likely shift rapidly, this can lead to bull and bear traps, we will discuss this in the Trap section. A rare, but powerful signal from the MoMo is when the Price and Trend Lines “pinch” and begin to move in the same direction. If this is happening the trader should be looking to follow the direction of these lines. Part Two: Extensions When both Price and Trend Lines are above 10 or below -10 this will begin to signal an extension. Purple: Indicates the bears are extended to the downside and a pullback or trend reversal upward is likely. Gold: Indicates the bulls are extended to the upside and a pullback or trend reversal downward is likely. When only the Trend Line is above 10 the MoMo will shade the upper range red. This indicates the Trend is becoming bullish or entering an extension. If the Trend Line cannot maintain above 10 for long and breaks below 10 this indicates it’s an extension and trend will most likely continue downward. When only the Trend Line is below -10 the MoMo will shade the upper range green. This indicates the Trend is becoming bearish or entering an extension. If the Trend Line cannot maintain below -10 for long and breaks above -10 this indicates it’s an extension and trend will most likely continue upward. When the green or purple shading have turned off take the lowest point, this is considered a support level or a local bottom. When the red or gold shading have turned off take the highest point, this is considered a resistance level or a local top. The trader can preemptively trade the purple or gold warnings but be warned these warnings can go on for a long time if the trend is very strong. It is the same mentality of an overbought or oversold RSI, except the MoMo extensions have a much higher strike rate. To avoid preemptively trading these extensions the trader should wait for confirmation on the Price Line and on price action. The Price Line (histogram) should be moving upward during a purple extension to begin showing a bottom. The Price Line (histogram) should be moving downward during the gold extension to begin showing a top. Part Three: Traps The relation between the Price Line and Trend Line can create trading signals for bull and bear traps. When the Trend Line is flattened out around 15 or -15, indicating a strong trend is in place, and the Price Line is rapidly moving towards the midline this may indicate a trap is forming. When the Trend Line is flat around 15 and the Price Line begins moving towards 0, if the Price Line reaches 0 or close to 0 and the Trend Line is still flat, a trap has begone. Once the Price Line shifts from decreasing (red) to increasing (green) the trap is playing out. Therefore, the trader should look to exit short positions or enter long positions. When the Trend Line is flat around -15 and the Price Line begins moving towards 0, if the Price Line reaches 0 or close to 0 and the Trend Line is still flat, a trap has begone. Once the Price Line shifts from increasing (green) to decreasing (red) the trap is playing out. Therefore, the trader should look to exit long positions or enter short positions. Part Four: Divergences The MoMo is exceptional at finding divergences with the Price Line and occasionally the Trend Line. To find a divergence with the MoMo the trader must look for when the histogram is not following price action completely. Bullish Divergence: Price makes a lower low, MoMo makes a higher low. Bearish Divergence: Price makes a higher high, MoMo makes a lower high. Hidden Bull Divergence: Price makes a higher low, MoMo makes a lower low. Hidden Bear Divergence: Price makes a lower high, MoMo makes a higher high. For Access or Questions: Private message us. Thank you.
Pine Script™ Indikator
von OasisTrading
15
Force Index - Multi Timeframe [WYCKOFF ARSENAL]WYCKOFF ARSENAL is now available on TradingView! Based on <> (Richard D. Wyckoff) Noted Indicators: ▪ Optimism Pessimism Index ▪ Force Index ◄ ▪ Technometer ▪ Momentum Main Features: ▪ Multi Timeframe is available ▪ Volume based indicators ▪ Can be used on pairs that have volume data ──────────────────────────── Highlights > Optimism Pessimism Index or OP The value of the OP is not important. The action of the OP is important. The action of the index must be compared to its previous action or to the price index over the same period of time. > Technometer or TEC The purpose of the Technometer is to provide a mathematical indication of the degree to which the market is overbought or oversold. The value of the Technometer could be as high as 100 or as low as 0. The other possible values would represent degrees of overbought or oversold. How to read the Technometer: | Overbought means vulnerable to a reaction | 100 - completely overbought market. ── 60 - actual overbought extreme. ──── 50 or higher is considered to be clearly over bought. ────── lower than 50 - relatively overbought. ──────── Everything in between clearly overbought and clearly oversold is neutral. ────────── A reading of 44.4 is absolute neutrality. ──────── Everything in between clearly overbought and clearly oversold is neutral. ────── higher than 38 - relatively oversold. ──── 38 or lower is considered to be clearly over sold. ── 28 - actual oversold extreme. 0 - completely oversold market. | Oversold means vulnerable to a rally | > Force The purpose of the Force Index is to provide an indication of the pressure being applied to push the market lower or the pull being applied to the market to pull it higher. > Momentum The purpose of the Momentum is to provide a measure of the speculative interest in the market.
Pine Script™ Indikator
von KryptoNight
1
OBV StochasticsThis indicator uses both a standard Stochastic Oscillator based on security prices and stochastically oscillated OBV values. Explanation: Stochastics measure momentum by comparing the current closing price to its lowest and highest price over a user-defined window of n periods. Without going too in depth, traders can view the K value as the current value for the stochastic indicator and the D value as a Simple Moving Average of K values. Users can adjust the length of that Simple Moving Average through modifying the smooth D parameter in the input option menu. Traders can also define the upper and lower bounds for both sets of K and D values. These are plotted on the graph as the horizontal red (upper) line and horizontal green (lower) line. Generally, the upper line is viewed as the threshold at which a security can be considered overBought. Conversely, the lower green line is the threshold at which they can be viewed as overSold. OBV, or On-Balance Volume, is a versatile momentum indicator that we discussed in our OBV Z-Scores open-source script. That is a good place to look if you're looking to gain a better understanding of the OBV indicator. By applying the stochastic formula to the OBV, it allows us to gain a better understanding of the current OBV value relative to its historical data and display the OBV in a {0.100} bounded range of values. Plotting the standard price-based Stoch. K and D in combination with the Stoch. OBV K and D can help identify divergences and track the progression and direction of trends. For example, you can see that when the two move in opposite directions or when one significantly outpaces the other, it often hints towards an impending reversal. The Graph: As mentioned the upper and lower overbought and oversold thresholds can be adjusted by the trader and are plotted on the graph in red and green. The green oscillating line represents the Stoch. K of OBV values, while the red line symbolizes the OBV D values. The teal line is the standard Stoch. K and the orange line is the standard Stoch. D. Users have two options for background highlights. The first option is to use green highlights to show entry signals and red highlights to show exit signals. These signals are based on the criteria we have set for identifying optimal entry and exit points. This is shown in the second pane. The second option is to plot red highlights whenever Stoch. OBV K crosses the upper bound and green highlights whenever it crosses the lower bound. This is shown in the bottom pane. NOTE: Choosing this option means that signals will not be displayed in sequential entry-exit order (instead this is a good option if traders only want to identify when the security is overbought or oversold). Input Options: Traders can adjust the respective smooth K and smooth D values for both the standard stoch. and OBV stoch. Additionally, the lookback window length can be adjusted as well as the upper and lower bounds(in addition to the display options shown above). Alerts: Indicator sends alerts when entry and exit conditions are met, as well as alerts to inform traders when overbought/oversold conditions are met. Alerts can be tailored for GunBot / other automated trading platforms upon request. ~Happy Trading~
Pine Script™ Indikator
von ProfitProgrammers
Custom RSI [Mr_Orange]This is my custom RSI script, which is basically a normal RSI chart. Except it has build in alerts, based on the RSI strategy indicator, and I like the colors better. * Buy signal is based on RSI crossunder from overbought to neutral zone * Sell signal is based on RSI crossover from oversold to neutral zone Both oversold and overbought can be adjusted. Future functionality will also include RSI rise and fall % Thanks for checking it out! If you think it is worth something: - BTC: 1NrG3Sy2VW8u4wWHucj1CQjKQ6hXYwbSyX
Pine Script™ Indikator
von Mr_Orange
Bollinger Bands/Stoch RSI Buy Signal V0.1 [Mr_Orange] This my second published script, so if there are tips or questions, please let me know. The goal of the script is to recognise a reversal pattern from bearish to bullish sentiment on a 3m and 5m timeframe. I want my trade entries to be "mechanically chosen" and not emotionally. I have not yet found a Bollinger and Stochastic RSI indicator which did what I wanted it to do, I've yet to find one of those, so I decided to study pine scripts and make one myself that works the way I want, and because I've written it myself, I understand how it works. It is purely designed for lower timeframes and normal candles, please do not use it Heikin or Renko. Other timeframes I have not studied. At the moment I only included a Buy alert. I have not yet decided on a Sell signal/alert. Thanks for checking it out! If you think it is worth something: - BTC: 1NrG3Sy2VW8u4wWHucj1CQjKQ6hXYwbSyX
Pine Script™ Indikator
von Mr_Orange
5
Self-Adjusting RSI +Here is an open source (no request needed!) version of the Self-Adjusting RSI by David Sepiashvili. Published in Stocks & Commodities V. 24:2 (February, 2006): The Self-Adjusting RSI David Sepiashvili's article, "The Self-Adjusting RSI," presents a technique to adjust the traditional RSI overbought and oversold thresholds so as to ensure that 70-80% of RSI values lie between the two thresholds. Sepiashvili presents two algorithms for adjusting the thresholds. One is based on standard deviation, the other on a simple moving average of the RSI. This script allows you to choose between plotting the Self-Adjusting bands or the traditional bands. You can also plot a smoothed RSI (SMA or EMA) and change the theme color for dark or light charts. If you find this code useful, please pass it forward by sharing open source! Thank you to all of the open source heroes out there! "If I have seen a little further it is by standing on the shoulders of Giants."
Pine Script™ Indikator
von AltJams
10
Dynamic Momentum IndexThis indicator was originally developed by Tushar S. Chande and Stanley Kroll. They described it in their book The New Technical Trader (1994). The period for DMI calculation depends on the market volatility. DMI uses a longer period as volatility decreases and a shorter period as volatility increases, making it more responsive to changing prices than RSI which uses a fixed period. That's why the indicator is called "dynamic". You can specify the DMI period bounds (defaults are 5 and 30) in the indicator settings. The calculation is based on the standard deviation of prices. The authors used a custom volatility index to adjust RSI period - the similar concept was used in the original VIDYA (yes, it was based on the standard deviation). Source code on request
Pine Script™ Indikator
von everget
27
Self-Adjusting RSIThis indicator was originally developed by David Sepiashvili (Stocks & Commodities V. 24:2 (February, 2006): The Self-Adjusting RSI ). The author presented a technique to adjust the traditional RSI overbought and oversold thresholds so as to ensure that 70-80% of RSI values lie between the two thresholds. He used two algorithms for adjusting: Standard Deviation-based Simple Moving Average-based Easy and straightforward. But this is not a true way. Source code on request
Pine Script™ Indikator
von everget
16
ATR and RSI Buy / Sell Signal Beta 1.0This has been a long time coming for me. I need to clean it up and add inputs for others to customize it that's why its protected. This is configured for US securities. Goal: Signal when to enter a trade on either side Method: ATR and 2 RSI signals using: 3 Minute Chart Resolution MUST have an active (can be hidden) BUILT-IN ATR ; length = 4 and set to RMA smoothing MUST add the script; THEN go to the scripts settings and change the source to ATR. TV does not allow this to be set to default (that I know of) I have default settings how I use them but you can modify: ATR period (Length) =4 ATR multiplier = 0.9 (can edit by 0.1 increments. The 1st Length/offset/resolution is defaulted to the 1 minute RSI. The 2nd Length/offset/resolution is defaulted to the 3 minute RSI. 1) OVERBOUGHT or OVERSOLD *Please understand I use a length of 4 for this script, that is why the RSI OB/OS limits are so high/low. Overbought conditions will light yellow if the 1m RSI > 90 and the 3min RSI > 85 and the time is between 09:42am and 16:00 Oversold conditions will light yellow if the 1m RSI < 10 and the 3min RSI < 10 and the time is between 09:42am and 16:00 The script ensures that if it is OB/OS under these conditions than it will not signal a buy or sell. 2)ATR The script identifies reversals via the close breaking past the previous ATR on the preceding candle. ATR will not move UP on a short and will not move down on a long. It trails the last candle it was not broken. The script plots labels up and down to identify the start of a reversal. Each start will have an accompanying line to display the continuation of the trend in one direction. The script displays the value of the STOP as it trails price action. One could continue to mirror this value if you chose to. I use the fib tool for my targets and manage it as P/A demands. 3) RSI SIGNALLING The script identifies a trend by analyzing BOTH RSI (1m and 3m) measures and requires that the current bar's readouts for BOTH measures are either greater or lower than the preceding candle. The script also requires that both measures are above or below 50 to signal a trend. The script will plot the trend as arrows up or down, it will display a (-) when the these conditions are not met. Requirements to signal a BUY (LIME GREEN) or SELL (BRIGHT RED): **Ensure your chart candle colors are faded so you can see the signal.** **Precision is set to 0; remember TV rounds up or down for the visual measure but uses the exact measure for the script** During the first 12 minutes: ---------------------------------- There are no OB/OS conditions as informed in section 1. ATR stop line must be present OR the current bar close is higher than the ATR stop of the preceding candle whether it is a long or short stop signal. Quick whips are accounted for. The current bar close MUST be higher or lower than the preceding candle's HIGH or LOW. The script MUST identify the RSI signalling as detailed above in section 3. The candle will light LIME or BRIGHT RED when these conditions are met and will not deceive the statements I have made. It is important to understand that the signal may become null if the conditions do not persist through the final close of the candle. This means that a snapshot of the indicator does not accurately represent what it will display at different times during each countdown of EACH 3 minute candle. Sometimes it signals to go long and once RSI gets too high it no longer signals. This is a good thing. Limits FOMO entries. @ 09:42 until 16:00 ----------------------------------- OB/OS yellow candles will now occur as detailed in section 1. Candles MUST clear the HIGH or LOW of the TWO preceding candles. Candles MUST be trending as defined in section 3. Candles MUST conform the conditions of the ATR stop. I want to thank; @pinescripters @freedom_trader_ and I will even thank the manual lol I have manually back tested this because I am working on the proper coding to have TV do it for me. My strategy requires me to cover 25% of my position at 0.5 of the TV ATR 4 length RMA indicator. Once the first target is hit than the STOP is moved to break-even. If the target is not hit than my maximum loss is also 0.5 of the TV ATR 4 length RMA indicator. I tested 3 full days, always on the 3min chart. I tested 96 trades. All occurring immediately upon signal. 85 were wins and 9 were losses, 88.5% profitable. Please understand that my intend is to cover enough quickly to cover commission costs and limit losses. The remaining 75% of my position are sold off in the following pattern unless P/A demands that I override the FIB tool. Let them run when you can. Position ENTRY 25% cover @ 0.5 x ATR 25% of remaining position cover @ 1.75 x ATR 25% of remaining position cover @ 2.5 x ATR 25% of remaining position cover @ 3.5 x ATR (APX 40% of the initial position) I will further back test in the near future with an expanded risk.
Pine Script™ Indikator
von kmack282
1
Double & Triple Bollinger Bands by Atilla YurtsevenThere are many traders use Bollinger Bands . The defaults are 20 SMA ( simple moving average ) with 2 deviation and you can use only single and customizable deviation. I have decided to release an advanced version of Bollinger Bands . Most traders use Double Bollinger Bands strategy. However, it's not enough either. We sometimes need more than that. You can still use a single one by disabling the rest. Also what if you would like to use WMA instead of SMA? Now you can even choose your favorite moving average. Please remember to subscribe to my channel and add some comments below. Hope you enjoy it. FYI: This is not financial advice Trade safe, Atilla Yurtseven
Pine Script™ Indikator
von AtillaYurtseven
RatTrend Multiple RSI Divergence MA Cross OscillatorThis Indicator based on RSI Divergence with Overbought and oversold signals. All tops and bottoms calculated with Moving Average Crosses and combines with RSI signals. Best working Timeframe is H4 on current settings, you can modify values to find best for you. Current settings best for BTC trading. At the beginning it can confuse you to understand but you will understand signal patterns. Have fun.
Pine Script™ Indikator
von BatRat
11