How to force strategies fire exit alerts not reversalsPineScript has gone a long way, from very simple and little-capable scripting language to a robust coding platform with reliable execution endpoints. However, this one small intuitivity glitch is still there and is likely to stay, because it is traditionally justified and quite intuitive for significant group of traders. I'm sharing this workaround in response to frequent inquiries about it.
What's the glitch? When setting alerts on strategies to be synchronized with TradingView's Strategy Tester events, using simple alert messages such as "buy" or "sell" based on entry direction seems straightforward by inserting {{strategy.order.action}} into the Create Alert's "Message" field. Because "buy" or "sell" are exactly the strings produced by {{strategy.order.action}} placeholder. However, complications arise when attempting to EXIT positions without reversing, whether triggered by price levels like Stop Loss or Take Profit, or logical conditions to close trades. Those bricks fall apart, because on such events {{strategy.order.action}} sends the same "sell" for exiting buy positions and "buy" for exiting sell positions, instead of something more differentiating like "closebuy" or "closesell". As a result reversal trades are opened, instead of simply closing the open ones.
This convention harkens back to traditional stock market practices, where traders either bought shares to enter positions or sold them to exit. However, modern trading encompasses diverse instruments like CFDs, indices, and Forex, alongside advanced features such as Stop Loss, reshaping the landscape. Despite these advancements, the traditional nomenclature persists.
And is poised to stay on TradingView as well, so we need a workaround to get a simple strategy going. Luckily it is here and is called alert_message . It is a parameter, which needs to be added into each strategy.entry() / strategy.exit() / strategy.close() function call - each call, which causes Strategy Tester to produce entry or exit orders. As in this example script:
line 12: strategy.entry(... alert_message ="buy")
line 14: strategy.entry(... alert_message ="sell")
line 19: strategy.exit(... alert_message ="closebuy")
line 20: strategy.exit(... alert_message ="closesell")
line 24: strategy.close(... alert_message ="closebuy")
line 26: strategy.close(... alert_message ="closesell")
These alert messages are compatible with the Alerts Syntax of TradingConnector - a tool facilitating auto-execution of TradingView alerts in MetaTrader 4 or 5. Yes, simple alert messages like "buy" / "sell" / "closebuy" / "closesell" suffice to carry the execution of simple strategy, without complex JSON files with multiple ids and such. Other parameters can be added (actually plenty), but they are only option and that's not a part of this story :)
Last thing left to do is to replace "Message" in Create Alert popup with {{strategy.order.alert_message}} . This placeholder transmits the string defined in the PineScript alert_message= parameter, as outlined in this publication. With this workaround, executing closing alerts becomes seamless within PineScript strategies on TradingView.
Disclaimer: this content is purely educational, especially please don't pay attention to backtest results on any timeframe/ticker.
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Sessions Lite [TradingFinder] New York, London, Asia, NYSE Forex🔵 Introduction
A trading session is one of the basic concepts in the financial market that refers to specific time periods. In fact, a session means hours during the day and night, during which traders in a certain part of the world conduct their transactions.
Although the "Forex" and "CFDs" market is open 24 hours a day and it is possible to trade in it, but in some hours the activity in this market decreases so much that many traders prefer not to trade and only watch the market. On the other hand, there are specific times when the market is very busy and dynamic, and many traders tend to trade during these hours of the day and night.
Trading sessions are usually divided into three main categories, which are "Asian", "European" and "North American" sessions. These trading sessions are also called the "Tokyo", "London" and "New York" sessions, respectively. But they also categorized these sessions in more detailed ways such as "Sydney session", "Shanghai session" or "NYSE session".
🔵 Tokyo trading session (Asian session)
After the weekend that happens on Saturday and Sunday, the Forex market starts with the Asian session. In this continent, most of the transactions are done in the Tokyo session, and for this reason, it is usually called the Asian session or the Tokyo session. However, other countries such as Australia, China and Singapore also do a lot of trading in this session.
The Tokyo session has a lower volume of transactions compared to the London and New York sessions, and therefore the liquidity is lower. In this session, most of the Forex currency pairs move in a price range. For this reason, different people use the ups and downs with the trading strategy in the range and get profit.
The low liquidity of the Tokyo session means that trading spreads are also higher during these hours. Besides, most of the transactions of this session are done in the early hours and at the same time as the planned news release.
In the Tokyo or Asia session, the best currency pairs to trade are the "Japanese yen", the "Australian dollar", and the "New Zealand dollar".
"Nikkei" index is also a good option for trading. If you trade in the Tokyo session, you should also be aware of the release of economic news and data from Australian, New Zealand and Japanese financial institutions.
🔵 London trading session (European session)
After the Asian session, it is time for the European session. In this period of time, transactions are very large and many European markets are involved. However, the European session is usually known as the London session.
Because of its specific time zone, London is not only known as the Forex trading center in Europe, but it is also known as the Forex trading center in the world. The London session overlaps with two other major trading sessions in the world, Asia and America. This means that most of the Forex transactions are done in this session. According to the latest statistics, 32% of Forex transactions are related to the London session, which shows that about a third of the activity performed in Forex takes place during this period.
This will increase the volume of Forex transactions and increase liquidity. An event that causes the spread of transactions to decrease. Of course, high liquidity also leads to greater volatility, which is desirable for many traders.
In the European session, the pound and euro currencies and the "DAX", "FTSE100", and "CAC40" indices are known as the best tradable assets. Also, traders of this session should pay attention to the news and data published by the "European Central Bank" and the "Bank of England". The news of countries like Germany, France and Italy are also very important.
🔵 American trading session (New York session)
When the New York session begins, several hours have passed since the end of the Tokyo session, but the European session is in the middle. In this session, they usually affect the financial activities carried out in America, but they also affect other countries such as Canada, Mexico and several South American countries.
The "US dollar" and stock indices such as "S&P", "Dow Jones" and "Nasdaq" are the most important assets that are traded in this session.
The early hours of the American session have a lot of liquidity and volatility due to the overlap with the European session, but with the end of the European session, the activity in the American session also decreases.
You can trade all major Forex currency pairs in the New York trading session. In this session, the "Federal Reserve", as the most important central bank in the world, is the institution that you should pay attention to its news and data.
The trading session indicator is an analytical tool in the financial markets that is used to display and analyze specific trading periods during a day. These indicators are generally useful for determining support and resistance levels during any trading session and for detecting different trading patterns.
For example, usually these indicators display the open and close price levels, the highest and lowest prices during a trading session. Also, you may notice various price patterns such as price channels, price phase phases and market trend changes during different trading sessions using these indicators.
🔵 cause of construction
In particular, the session light indicator version is designed and built for those traders who use many different tools on their chart at the same time. These traders can include "Volume Traders", "ICT traders", "Day Traders" and... These individuals can use "Session Lite" without disturbing the display of their other trading tools such as "Order Blocks", "Liquidity", "Zigzag", "FVG" etc.
But in general, there are several reasons for making tools like trading session indicators in financial markets, some of which include the following :
1. Analysis of specific time frames : Some traders and investors like to consider specific time frames for price analysis and review. For example, analyzing price changes during each trading session can help analyze trading patterns and identify trading opportunities.
2. Recognize different price patterns : Different price patterns may be observed during trading sessions. Trading session indicators can help to make better trading decisions by analyzing these patterns and their strengths and weaknesses.
3. Identifying Support and Resistance Levels : These tools may help to identify support and resistance levels during any trading session which can be helpful in deciding whether to enter or exit the market.
🔵 How to use
The Session Lite indicator displays 8 sessions by default. Asia session, Sydney session, Tokyo session, Shanghai session, Europe session, London session, New York session and New York Stock Exchange (NYSE) session are the sessions that are displayed.
You can activate or deactivate the display of each session by using the tick button next to the name of each session.
Two gray vertical dashes are also displayed by default, which indicate the beginning of the European session and the New York session. This feature is available for all sessions, but it is enabled by default only for these two sessions, and you can activate it for the rest of the session. You can enable or disable the display of this line by using the Start Session tick key.
Likewise, the information table is displayed by default, which includes the open or closed information of each session and the start and end times of each session. These timings are based on the UTC time zone.
Accordingly, the schedule of trading sessions is as follows :
Asia session from 23:00 to 06:00
Sydney session from 23:00 to 05:00
Tokyo session from 00:00 to 00:06
Shanghai session from 01:30 to 06:57
European session from 07:00 to 16:30
London session from 08:00 to 16:30
New York session from 13:00 to 22:00
New York Stock Exchange (NYSE) session from 14:30 to T 22:00
Important note : the beginning of the European session coincides with the opening of the Frankfurt market.
🔵 Settings
• In the settings section, there are customization capabilities according to the type of use of each user. The settings related to showing or not showing the box of each session, the start indicator of each session, setting the start and end time of the session and choosing the desired color to display each session are among the things that can be set from this section.
• At the end of the settings, you will see the "Info Table" option; By disabling this option, the "sessions" clock table displayed on the upper right side will be disabled.
Urika Trend StrengthThe Urika Directional Strength (UDS) indicator calculates and visualizes the strength of the directional trend in the price data. It helps traders see the strength and direction of the trend and allows them to make informed trading decisions based on trend changes.
Calculation:
The Simple Moving Average is used to determine the upper and lower directional bands by adding and subtracting the product of the standard deviation of the price data and the multiplier of the moving average.
Direction: The upward directional trend and downward directional trend are calculated by taking the absolute value of the difference between the price data and the upper and lower directional bands, divided by the product of the standard deviation and the multiplier.
Strength: It is calculated by taking the absolute value of the difference between the price data and the moving average, divided by the product of the standard deviation and the multiplier.
Interpretation:
Direction: The position of the long and short lines at the top indicates the direction of the ticker. Long line for long position and Short line for short position.
Strength: When the Strength line is below the directional lines, it is a weak trend or consolidating. If it stays in between the two directional lines, it is a strong trend.
Supertrend with Target Price & ATREE [SS]Hey everyone,
Releasing this supertrend mashup indicator.
This is your basic supertrend, but with two additions:
1. The integration of the ATREE technical probability modeller; and
2. The use of ATR price targets for crossovers
ATREE
ATREE stands for Advanced Technical Range Expectancy Estimator. It has its very own indicator available here . If you are not that familiar with it, I would suggest heading over to that page and reading about it, because it gives you the in-depth details.
But for a recap, ATREE uses technical indicators such as RSI, Stochastics or Z-Score to predict the likely sentiment, whether it be bullish or bearish. The indicator allows you to select the ATREE model type and supports 3 separate probability models based on either:
1. RSI
2. Stochastics; or
3. Z-Score
If you want to know which model is most effective for the ticker and timeframe you are using, you can launch up the native ATREE indicator and review the backtesting results to ascertain which model performs optimally for that particular ticker on that particular timeframe.
When ATREE assesses the sentiment as bearish, you will get a red fill. When it assesses the sentiment as bullish, you will get a green fill. This will help you adjust your bias to focus on either dip buying or rip shorting.
The ATREE timeframe is also customizable, so you can pull data from higher timeframes than you are on.
ATR Price Targets
As with my EMA 9/21 crossover with the target price, this is essentially the same concept. When the trend shifts to bullish or bearish, bull and bear targets will be printed so you know where to look for potential reversal and you can also set realistic target prices if you are scalping or day trading.
Supertrend
The last and base feature is the supertrend. The supertrend settings are customizeable.
It will provide a green line for uptrend and a redline for downtrend, the basic supertrend functionality.
And that's the indicator!
Let me know what you think and hope you enjoy!
Safe trades as always!
Ichimoku Clouds Strategy Long and ShortOverview:
The Ichimoku Clouds Strategy leverages the Ichimoku Kinko Hyo technique to offer traders a range of innovative features, enhancing market analysis and trading efficiency. This strategy is distinct in its combination of standard methodology and advanced customization, making it suitable for both novice and experienced traders.
Unique Features:
Enhanced Interpretation: The strategy introduces weak, neutral, and strong bullish/bearish signals, enabling detailed interpretation of the Ichimoku cloud and direct chart plotting.
Configurable Trading Periods: Users can tailor the strategy to specific market windows, adapting to different market conditions.
Dual Trading Modes: Long and Short modes are available, allowing alignment with market trends.
Flexible Risk Management: Offers three styles in each mode, combining fixed risk management with dynamic indicator states for versatile trade management.
Indicator Line Plotting: Enables plotting of Ichimoku indicator lines on the chart for visual decision-making support.
Methodology:
The strategy utilizes the standard Ichimoku Kinko Hyo model, interpreting indicator values with settings adjustable through a user-friendly menu. This approach is enhanced by TradingView's built-in strategy tester for customization and market selection.
Risk Management:
Our approach to risk management is dynamic and indicator-centric. With data from the last year, we focus on dynamic indicator states interpretations to mitigate manual setting causing human factor biases. Users still have the option to set a fixed stop loss and/or take profit per position using the corresponding parameters in settings, aligning with their risk tolerance.
Backtest Results:
Operating window: Date range of backtests is 2023.01.01 - 2024.01.04. It is chosen to let the strategy to close all opened positions.
Commission and Slippage: Includes a standard Binance commission of 0.1% and accounts for possible slippage over 5 ticks.
Maximum Single Position Loss: -6.29%
Maximum Single Profit: 22.32%
Net Profit: +10 901.95 USDT (+109.02%)
Total Trades: 119 (51.26% profitability)
Profit Factor: 1.775
Maximum Accumulated Loss: 4 185.37 USDT (-22.87%)
Average Profit per Trade: 91.67 USDT (+0.7%)
Average Trade Duration: 56 hours
These results are obtained with realistic parameters representing trading conditions observed at major exchanges such as Binance and with realistic trading portfolio usage parameters. Backtest is calculated using deep backtest option in TradingView built-in strategy tester
How to Use:
Add the script to favorites for easy access.
Apply to the desired chart and timeframe (optimal performance observed on the 1H chart, ForEx or cryptocurrency top-10 coins with quote asset USDT).
Configure settings using the dropdown choice list in the built-in menu.
Set up alerts to automate strategy positions through web hook with the text: {{strategy.order.alert_message}}
Disclaimer:
Educational and informational tool reflecting Skyrex commitment to informed trading. Past performance does not guarantee future results. Test strategies in a simulated environment before live implementation
Rotation Factor for TPO and OHLC (Plot)The Rotation Factor objectively measures attempted market direction(or market sentiment) for a given period. It records the cumulative directional attempts of auction rotations within a given period, thus, helping traders determine which way the market is trying to go and which market participant is exerting greater control or influence.
Theory
The premise is that a greater number of bars auctioning higher contrasted to bars auctioning lower indicates that buyers are exerting greater control over price within the given period(usually daily). In this case, the market is attempting to go higher (Market is Bullish). The same is true for a greater number of bars auctioning lower than higher, which, in this case, indicates that the sellers are exerting greater control over price within the given period and that the market is attempting to go lower (Market is Bearish).
Calculation
Each bar is individually measured in relation to the immediate previous bar, and calculations are reset at the beginning of each period.
For every bar, two variables are utilised: One for the highs and another for the lows. During bar start, these variables are initiated at 0.
As the period progresses, these variables are set accordingly: If the high of the current bar is higher than that of the previous bar, then the bar's highs variable is assigned a "+1". If the opposite is true, it is given a "-1". Finally, if both bar highs are equal, it is, instead, assigned a "0". The same is true for the lows: if the low of the current bar is higher than that of the previous low, then the bar's lows variable is assigned a "+1". Similarly, the opposite is given a "-1", while equal lows causes it to be assigned a "0". All highs and lows are then summed together resulting to a total, which becomes the Rotational Factor.
Presentation
Furthermore, this Rotation Factor Indicator is presented as a plot, which, unlike its classic variation, shows you how the rotation factor is developing. It also includes lines indicating the Top Rotation Factor and the Bottom Rotation Factor individually, the better to observe the developing auction.
Link to the Classic Variation:
Features
1. Customisable Tick Size/Granularity : The calculation tick size/ granularity is customisable which can be accessed through the indicator settings.
2. Customisable Labels and Lines : The colour and sizes used by the labels and lines are customisable the better for accessibility.
3. Period Separator : A separator is rendered to represent period borders (start and end). If separators are already present on your chart, you can remove them from the indicator settings.
4. Individual Top Rotation Factor and Bottom Rotation Factor plots : These two parts which becomes of the Rotation Factor are also presented individually, on their own plots, the better to observe the developing auction.
Works for both split Market Profile(TPO) charts and regular OHLC bars/candle charts
The Rotation Factor is usually used with a Split Market Profile (TPO). However, if no such tool is available, you will still be able to benefit from the Rotation Factor as the price ranges of Split Market Profiles and OHLC bars/candles are one and the same. In such cases, it is recommended that you set your chart to use a 30 minute timeframe and the indicator's period to "daily" to simulate a Split Market Profile.
Note :
The Rotation Factor is, to quote, "by no means not an all-conclusive indication of future market direction.". It only helps determine which way the market is trying to go by objectively measuring the market's directional attempts.
Rotation Factor for TPO and OHLC (Classic)The Rotation Factor objectively measures attempted market direction(or market sentiment) for a given period. It records the cumulative directional attempts of auction rotations within a given period, thus, helping traders determine which way the market is trying to go and which market participant is exerting greater control or influence.
Theory
The premise is that a greater number of bars auctioning higher contrasted to bars auctioning lower indicates that buyers are exerting greater control over price within the given period(usually daily). In this case, the market is attempting to go higher (Market is Bullish). The same is true for a greater number of bars auctioning lower than higher, which, in this case, indicates that the sellers are exerting greater control over price within the given period and that the market is attempting to go lower (Market is Bearish).
Calculation
Each bar is individually measured in relation to the immediate previous bar, and calculations are reset at the beginning of each period.
For every bar, two variables are utilised: One for the highs and another for the lows. During bar start, these variables are initiated at 0.
As the period progresses, these variables are set accordingly: If the high of the current bar is higher than that of the previous bar, then the bar's highs variable is assigned a "+1". If the opposite is true, it is given a "-1". Finally, if both bar highs are equal, it is, instead, assigned a "0". The same is true for the lows: if the low of the current bar is higher than that of the previous low, then the bar's lows variable is assigned a "+1". Similarly, the opposite is given a "-1", while equal lows causes it to be assigned a "0". All highs and lows are then summed together resulting to a total, which becomes the Rotational Factor.
Presentation
Furthermore, this Rotation Factor Indicator is presented as it is calculated, which is the presentation utilised by classic sources (hence the name classic).
Features
1. Customisable Tick Size/Granularity : The calculation tick size/ granularity is customisable which can be accessed through the indicator settings.
2. Customisable Labels : The colour and sizes used by the labels are customisable the better for accessibility.
3. Period Separator : A separator is rendered to represent period borders (start and end). If separators are already present on your chart, you can remove them from the indicator settings.
Works for both split Market Profile(TPO) charts and regular OHLC bars/candle charts
The Rotation Factor is usually used with a Split Market Profile (TPO). However, if no such tool is available, you will still be able to benefit from the Rotation Factor as the price ranges of Split Market Profiles and OHLC bars/candles are one and the same. In such cases, it is recommended that you set your chart to use a 30 minute timeframe and the indicator's period to "daily" to simulate a Split Market Profile.
Note :
The Rotation Factor is, to quote, "by no means not an all-conclusive indication of future market direction.". It only helps determine which way the market is trying to go by objectively measuring the market's directional attempts.
Algoflow's Levels PlotterAlgoflow's Levels Plotter - Indicator
Release Date: Jan. 15, 2024
Release version: v3 r1
Release notes date: Jan. 15, 2024
Overview
Parses user's input of levels to be plotted and labeled on the chart for NQ & ES futures
Features
Quick plotting of predetermined price levels.
- Type or copy from another source of values in a predetermined output format.
Supports separate line plotting for Weekly, OVN and RTH values
- Plot only Weekly, OVN or RTH levels, or all
- Configure colors separately for Inflection Points, Weekly, OVN & RTH levels
- Shift/place price labels separately to easily identify levels
User Impacts of Changes
Requires users to remove previous version and re-add indicator "Algoflow's Levels Plotter", then re-add values. Colors and shift values will need to be re-entered and/or reconfigured
Support
Questions, feedbacks, and requests are welcomed. Please feel free to use Comments or direct private message via TradingView.
Quick usage notes:
The indicator allows you to enter data for both ES & NQ at the same time. This is useful in single chart window/layout situations, like viewing on the phone. When you switch between futures, the data is already there.
If you leave the entries blank, nothing will be plotted. This is useful if you want to have separate charts for ES & NQ. So you can just enter only the relevant data of either.
As an indicator, input values are saved within it, until it is removed from the chart. Input for one chart will not update other charts of the same ticker, even in the same layout.
The easiest and quickest way to share the inputs across all charts and layouts is to use the Indicator Templates feature.
- After input values are entered (for both ES & NQ futures) via the indicator's Settings, select ""Save as Default"".
- Click on ""Indicator Templates"" (4 squares icon), and click on ""Save Indicator template...""
- Remove the previous version of the indicator in other charts.
- Click on ""Indicator Templates"" icon, and select the newly created template. Repeat this for other charts of the same futures ticker
The labels can be disabled in settings > Style tab. Use the Inputs tab to configure orientation (left or right of current bar on chart), and how much spacing from the current (in distance of bars)
Format example:
Primary directional inflection point: 1234
For Bulls: 1244.25, 1254, 1264.50
For Bears: 1224, 1214, 1204
Changes
v3 r1 - Fixed erroneous default values in Weekly input sections. Added options to en/disable display of each set (session) of levels. Default label text size to normal, from small.
- Jan 15, 2024
v2 r9 - Added support for USTEC & US500.
- Dec. 10, 2023
v2 r8 - Added configuration features for users to modify the labels' text colors and size. Simplified code further by moving inputs processing modules into a single user function.
- Oct. 31, 2023
v2 r7 - Added support for the micro NQ & ES. Modified to ignore string case in inputs
- Oct 18, 2023
v2 r4 - Added support of weekly lines and labels features. Began the process of optimizing/simplifying code
- Oct. 15, 2023
v2 r3 - Made Inflection Point levels' colors configurable
- Oct. 04, 2023
v2 r2 - Removed comments & debug codes from development build revision #518
- Oct. 04, 2023
v2 r1 - Released from development revision #518. Major rewrite to fix previous and overlapping plots of lines and labels.
- Oct. 04, 2023
v1 r2 - First release of indicator
- Oct. 02, 2023
Bitcoin ETF Tracker (BET)Get all the information you need about all the different Bitcoin ETFs.
With the Bitcoin ETF Tracker, you can observe all possible Bitcoin ETF data:
The ETF name.
The ticker.
The price.
The volume.
The share of total ETF volume.
The ETF fees.
The exchange and custodian.
At the bottom of the table, you'll find the day's total volume.
In addition, you can see the volume for the different Exchanges, as well as for the different Custodians.
If you don't want to display these lines to save space, you can uncheck "Show Additional Data" in the indicator settings.
The Idea
The goal is to provide the community with a tool for tracking all Bitcoin ETF data in a synthesized way, directly in your TradingView chart.
How to Use
Simply read the information in the table. You can hover above the Fees and Exchanges cells for more details.
The table takes space on the chart, you can remove the extra lines by unchecking "Show Additional Data" in the indicator settings or reduce text size by changing the "Table Text Size" parameter.
Upcoming Features
As soon as we have a little more history, we'll add variation rates as well as plots to observe the breakdown between the various Exchanges and Custodians.
Z-Score Forecaster[SS]Hello everyone,
I just released a neat library for Forecasting stock and equities. In it, it has a couple of novel approaches to forecasting (namely, a Moving Average forecaster and a Z-Score Forecaster). These were accomplished applying basic theories on Autoregression, ARIMA modelling and Z-Score to make new approaches to forecasting.
This is one of the novel approaches, the Z-Score forecaster.
How this function works is it identifies the current trend over the duration of the Z-Score assessment period. So, if the Z-Score is being assessed over the previous 75 candles, it will identify the trend over the previous 75 candles. It will then plot out the forecasted levels according to the trend, up to a maximum of the max Z-Score the ticker has reached within its period. At that point, it will show a likely trend reversal.
Here is an example:
This shows that SPY may go to 475.42 before reversing, as 475.42 is the highest z-score that has been achieved in the current trend.
When it is in an uptrend, the forecast line will be green, when in a downtrend, it will be red.
The forecasting line is accomplished through pinescript's new polyline feature.
In addition to the line, you can also have the indicator plot out a forecast table. The Z-Score Forecast table was formatted in a similar way to ARIMA, where it makes no bias about trend, it simply plots out both ends of the spectrum. So, if an uptrend were to continue, it will list the various uptrend targets along the way, vice versa for downtrends.
It will also display what Z-Score these targets would amount to. Here is an example:
Looking at SPY on the daily, we can see that a likely upside target would be around 484 at just over 2 Standard Deviations (Z-Score).
Its not liklely to go higher than that because then we are getting into 3 and 4 standard deviations.
Remember, everything generally should be within 1 and -1 standard deviations of the mean. So if we look at the table, we can see that would be between 466 and 430.
Customization
You can customize the Z-Score length and source. You can also toggle off and on alerts. The alerts will pop up when a ticker is trading at a previous maximum or previous minimum.
I have also added a manual feature to plot the Z-Score SMA, which is simply the SMA over the desired Z-Score lookback time.
And that's the indicator!
If you are interested in the library, you can access it here .
Thanks for checking this out and leave your questions below!
Christmas Toolkit [LuxAlgo]It's that time of the year... and what would be more appropriate than displaying Christmas-themed elements on your chart?
The Christmas Toolkit displays a tree containing elements affected by various technical indicators. If you're lucky, you just might also find a precious reindeer trotting toward the tree, how fancy!
🔶 USAGE
Each of the 7 X-mas balls is associated with a specific condition.
Each ball has a color indicating:
lime: very bullish
green: bullish
blue: holding the same position or sideline
red: bearish
darkRed: very bearish
From top to bottom:
🔹 RSI (length 14)
rsi < 20 - lime (+2 points)
rsi < 30 - green (+1 point)
rsi > 80 - darkRed (-2 points)
rsi > 70 - red (-1 point)
else - blue
🔹 Stoch (length 14)
stoch < 20 - lime (+2 points)
stoch < 30 - green (+1 point)
stoch > 80 - darkRed (-2 points)
stoch > 70 - red (-1 point)
else - blue
🔹 close vs. ema (length 20)
close > ema 20 - green (+1 point)
else - red (-1 point)
🔹 ema (length 20)
ema 20 rises - green (+1 point)
else - red (-1 point)
🔹 ema (length 50)
ema 50 rises - green (+1 point)
else - red (-1 point)
🔹 ema (length 100)
ema 100 rises - green (+1 point)
else - red (-1 point)
🔹 ema (length 200)
ema 200 rises - green (+1 point)
else - red (-1 point)
The above information can also be found on the right side of the tree.
You'll see the conditions associated with the specific X-mas ball and the meaning of color changes. This can also be visualized by hovering over the labels.
All values are added together, this result is used to color the star at the top of the tree, with a specific color indicating:
lime: very bullish (> 6 points)
green: bullish (6 points)
blue: holding the same position or sideline
red: bearish (-6 points)
darkRed: very bearish (< -6 points)
Switches to green/lime or red/dark red can be seen by the fallen stars at the bottom.
The Last Switch indicates the latest green/lime or red/dark red color (not blue)
🔶 ANIMATION
Randomly moving snowflakes are added to give it a wintry character.
There are also randomly moving stars in the tree.
Garland rotations, style, and color can be adjusted, together with the width and offset of the tree, put your tree anywhere on your chart!
Disabling the "static tree" setting will make the needles 'move'.
Have you happened to see the precious reindeer on the right? This proud reindeer moves towards the most recent candle. Who knows what this reindeer might be bringing to the tree?
🔶 SETTINGS
Width: Width of tree.
Offset: Offset of the tree.
Garland rotations: Amount of rotations, a high number gives other styles.
Color/Style: sets the color & style of garland stars.
Needles: sets the needle color.
Static Tree: Allows the tree needles to 'move' with each tick.
Reindeer Speed: Controls how fast the deer moves toward the most recent bar.
🔶 MESSAGE FROM THE LUXALGO TEAM
It has been an honor to contribute to the TradingView community and we are always so happy to see your supportive messages on our scripts.
We have posted a total of 78 script publications this year, which is no small feat & was only possible thanks to our team of Wizard developers @alexgrover + @dgtrd + @fikira , the development team behind Pine Script, and of course to the support of our legendary community.
Happy Holidays to you all, and we'll see ya next year! ☃️
Renko Box Chart Overlay by BDThis is Renko chart overlay for Candles chart. You can use it to identify market direction and potential key points.
To use it simply select box size and any timeframe you want.
With this overlay you can be sure that you'll see every brick on a chart showing general market direction with all the details of a candles chart.
Alternatives Renko overlay charts:
If you don't have access to 1s timeframe or you don't want to use low TF here is the situation with built in Renko chart on 5m TF:
This Renko boxes are linked to chart by time(candle) and price. It will draw a box even if price didn't close above(or below) of box level:
But be careful when setting box size too small because it will produce bad results:
The issue is known and I'll work on fixing it in next update, for now use box size at least the size of a body of a candle, after all renko is for general market movement and not for marking up every tick.
Let me know if you want to see any additions.
Targets For Overlay Indicators [LuxAlgo]The Targets For Overlay Indicators is a useful utility tool able to display targets during crossings made between the price and external indicators on the user chart. Users can display a series of two targets, one for crossover events and another one for crossunder event.
Alerts are included for the occurrence of a new target as well as for reached targets.
🔶 USAGE
In order for targets to be displayed users need to select an appropriate input source from the "Source" drop-down input setting. In the example above we apply the indicator to a volatility stop.
This can also easily be done by adding the "Targets For Overlay Indicators" script on the VStop indicator directly.
Targets can help users determine the price limit where the price might start deviating from an indication given by one or multiple indicators. In the context of trading, targets can help secure profits/reduce losses of a trade, as such this tool can be useful to evaluate/determine user take profits/stop losses.
Due to these essentially being horizontal levels, they can also serve as potential support/resistances, with breakouts potentially confirming new trends.
Users might be interested in obtaining new targets once one is reached, this can be done by enabling "New Target When Reached" in the target logic setting section, resulting in more frequent targets.
Lastly, users can restrict new target creation until current ones are reached. This can result in fewer and longer-term targets, with a higher reach rate.
🔹 Examples
The indicator can be applied to many overlay indicators that naturally produce crosses with the price, such as moving average, trailing stops, bands...etc.
Users can use trailing stops such as the SuperTrend or VStop to more easily create clean targets. Do note that certain SuperTrend scripts separate the upper and lower extremities of the SuperTrend into two different plot, which cannot be used with this tool, you may use the provided SuperTrend script below to have a compatible version with our tool:
//@version=5
indicator("SuperTrend", overlay = true)
factor = input.float(3, 'Factor', minval = 0)
atrLen = input.int(10, 'ATR Length', minval = 1)
= ta.supertrend(factor, atrLen)
plot(spt, 'SuperTrend', dir != dir ? na : dir < 0 ? #089981 : #f23645, 2)
plot(spt, 'Circles', dir > dir ? #f23645 : dir < dir ? #089981 : na, 3, plot.style_circles)
Using moving averages can produce more targets than other overlay indicators.
Users can apply the tool twice when using bands or any overlay indicator returning two outputs, using crossover targets for obtaining targets using the upper band as source and crossunder targets for targets using the lower band. We can also use the Trendlines with breaks indicator as example:
🔹 Dashboard
A dashboard is displayed on the top right of the chart, displaying the amount, reach rate of targets 1/2, and total amount.
This dashboard can be useful to evaluate the selected target distances relative to the selected conditions, with a higher reach rate suggesting the distance of the targets from the price allows them to be reached.
🔶 SETTINGS
Source: Indicator source used to create targets. Targets are created when the closing price crosses the specified source.
Show Target Labels: Display target labels on the chart.
Candle Coloring: Apply candle coloring based on the most recent active target.
🔹 Target
Crossover and Crossunder targets use the same settings below:
Show Target: Determines if the target is displayed or not.
Above Price Target: If selected, will create targets above the closing price.
Wait Until Reached: When enabled will not create a new target until an existing one is reached.
New Target When Reached: Will create a new target when an existing one is reached.
Evaluate Wicks: Will use high/low prices to determine if a target is reached. Unselecting this setting will use the closing price.
Target Distance From Price: Controls the distance of a target from the price. Can be determined in currencies/points, percentages, ATR multiples, or ticks.
MTF_DrawingsLibrary 'MTF_Drawings'
This library helps with drawing indicators and candle charts on all timeframes.
FEATURES
CHART DRAWING : Library provides functions for drawing High Time Frame (HTF) and Low Time Frame (LTF) candles.
INDICATOR DRAWING : Library provides functions for drawing various types of HTF and LTF indicators.
CUSTOM COLOR DRAWING : Library allows to color candles and indicators based on specific conditions.
LINEFILLS : Library provides functions for drawing linefills.
CATEGORIES
The functions are named in a way that indicates they purpose:
{Ind} : Function is meant only for indicators.
{Hist} : Function is meant only for histograms.
{Candle} : Function is meant only for candles.
{Draw} : Function draws indicators, histograms and candle charts.
{Populate} : Function generates necessary arrays required by drawing functions.
{LTF} : Function is meant only for lower timeframes.
{HTF} : Function is meant only for higher timeframes.
{D} : Function draws indicators that are composed of two lines.
{CC} : Function draws custom colored indicators.
USAGE
Import the library into your script.
Before using any {Draw} function it is necessary to use a {Populate} function.
Choose the appropriate one based on the category, provide the necessary arguments, and then use the {Draw} function, forwarding the arrays generated by the {Populate} function.
This doesn't apply to {Draw_Lines}, {LineFill}, or {Barcolor} functions.
EXAMPLE
import Spacex_trader/MTF_Drawings/1 as tf
//Request lower timeframe data.
Security(simple string Ticker, simple string New_LTF, float Ind) =>
float Value = request.security_lower_tf(Ticker, New_LTF, Ind)
Value
Timeframe = input.timeframe('1', 'Timeframe: ')
tf.Draw_Ind(tf.Populate_LTF_Ind(Security(syminfo.tickerid, Timeframe, ta.rsi(close, 14)), 498, color.purple), 1, true)
FUNCTION LIST
HTF_Candle(BarsBack, BodyBear, BodyBull, BordersBear, BordersBull, WickBear, WickBull, LineStyle, BoxStyle, LineWidth, HTF_Open, HTF_High, HTF_Low, HTF_Close, HTF_Bar_Index)
Populates two arrays with drawing data of the HTF candles.
Parameters:
BarsBack (int) : Bars number to display.
BodyBear (color) : Candle body bear color.
BodyBull (color) : Candle body bull color.
BordersBear (color) : Candle border bear color.
BordersBull (color) : Candle border bull color.
WickBear (color) : Candle wick bear color.
WickBull (color) : Candle wick bull color.
LineStyle (string) : Wick style (Solid-Dotted-Dashed).
BoxStyle (string) : Border style (Solid-Dotted-Dashed).
LineWidth (int) : Wick width.
HTF_Open (float) : HTF open price.
HTF_High (float) : HTF high price.
HTF_Low (float) : HTF low price.
HTF_Close (float) : HTF close price.
HTF_Bar_Index (int) : HTF bar_index.
Returns: Two arrays with drawing data of the HTF candles.
LTF_Candle(BarsBack, BodyBear, BodyBull, BordersBear, BordersBull, WickBear, WickBull, LineStyle, BoxStyle, LineWidth, LTF_Open, LTF_High, LTF_Low, LTF_Close)
Populates two arrays with drawing data of the LTF candles.
Parameters:
BarsBack (int) : Bars number to display.
BodyBear (color) : Candle body bear color.
BodyBull (color) : Candle body bull color.
BordersBear (color) : Candle border bear color.
BordersBull (color) : Candle border bull color.
WickBear (color) : Candle wick bear color.
WickBull (color) : Candle wick bull color.
LineStyle (string) : Wick style (Solid-Dotted-Dashed).
BoxStyle (string) : Border style (Solid-Dotted-Dashed).
LineWidth (int) : Wick width.
LTF_Open (float ) : LTF open price.
LTF_High (float ) : LTF high price.
LTF_Low (float ) : LTF low price.
LTF_Close (float ) : LTF close price.
Returns: Two arrays with drawing data of the LTF candles.
Draw_Candle(Box, Line, Offset)
Draws HTF or LTF candles.
Parameters:
Box (box ) : Box array with drawing data.
Line (line ) : Line array with drawing data.
Offset (int) : Offset of the candles.
Returns: Drawing of the candles.
Populate_HTF_Ind(IndValue, BarsBack, IndColor, HTF_Bar_Index)
Populates one array with drawing data of the HTF indicator.
Parameters:
IndValue (float) : Indicator value.
BarsBack (int) : Indicator lines to display.
IndColor (color) : Indicator color.
HTF_Bar_Index (int) : HTF bar_index.
Returns: An array with drawing data of the HTF indicator.
Populate_LTF_Ind(IndValue, BarsBack, IndColor)
Populates one array with drawing data of the LTF indicator.
Parameters:
IndValue (float ) : Indicator value.
BarsBack (int) : Indicator lines to display.
IndColor (color) : Indicator color.
Returns: An array with drawing data of the LTF indicator.
Draw_Ind(Line, Mult, Exe)
Draws one HTF or LTF indicator.
Parameters:
Line (line ) : Line array with drawing data.
Mult (int) : Coordinates multiplier.
Exe (bool) : Display the indicator.
Returns: Drawing of the indicator.
Populate_HTF_Ind_D(IndValue_1, IndValue_2, BarsBack, IndColor_1, IndColor_2, HTF_Bar_Index)
Populates two arrays with drawing data of the HTF indicators.
Parameters:
IndValue_1 (float) : First indicator value.
IndValue_2 (float) : Second indicator value.
BarsBack (int) : Indicator lines to display.
IndColor_1 (color) : First indicator color.
IndColor_2 (color) : Second indicator color.
HTF_Bar_Index (int) : HTF bar_index.
Returns: Two arrays with drawing data of the HTF indicators.
Populate_LTF_Ind_D(IndValue_1, IndValue_2, BarsBack, IndColor_1, IndColor_2)
Populates two arrays with drawing data of the LTF indicators.
Parameters:
IndValue_1 (float ) : First indicator value.
IndValue_2 (float ) : Second indicator value.
BarsBack (int) : Indicator lines to display.
IndColor_1 (color) : First indicator color.
IndColor_2 (color) : Second indicator color.
Returns: Two arrays with drawing data of the LTF indicators.
Draw_Ind_D(Line_1, Line_2, Mult, Exe_1, Exe_2)
Draws two LTF or HTF indicators.
Parameters:
Line_1 (line ) : First line array with drawing data.
Line_2 (line ) : Second line array with drawing data.
Mult (int) : Coordinates multiplier.
Exe_1 (bool) : Display the first indicator.
Exe_2 (bool) : Display the second indicator.
Returns: Drawings of the indicators.
Barcolor(Box, Line, BarColor)
Colors the candles based on indicators output.
Parameters:
Box (box ) : Candle box array.
Line (line ) : Candle line array.
BarColor (color ) : Indicator color array.
Returns: Colored candles.
Populate_HTF_Ind_D_CC(IndValue_1, IndValue_2, BarsBack, BullColor, BearColor, IndColor_1, HTF_Bar_Index)
Populates two array with drawing data of the HTF indicators with color based on: IndValue_1 >= IndValue_2 ? BullColor : BearColor.
Parameters:
IndValue_1 (float) : First indicator value.
IndValue_2 (float) : Second indicator value.
BarsBack (int) : Indicator lines to display.
BullColor (color) : Bull color.
BearColor (color) : Bear color.
IndColor_1 (color) : First indicator color.
HTF_Bar_Index (int) : HTF bar_index.
Returns: Three arrays with drawing and color data of the HTF indicators.
Populate_LTF_Ind_D_CC(IndValue_1, IndValue_2, BarsBack, BullColor, BearColor, IndColor_1)
Populates two arrays with drawing data of the LTF indicators with color based on: IndValue_1 >= IndValue_2 ? BullColor : BearColor.
Parameters:
IndValue_1 (float ) : First indicator value.
IndValue_2 (float ) : Second indicator value.
BarsBack (int) : Indicator lines to display.
BullColor (color) : Bull color.
BearColor (color) : Bearcolor.
IndColor_1 (color) : First indicator color.
Returns: Three arrays with drawing and color data of the LTF indicators.
Populate_HTF_Hist_CC(HistValue, IndValue_1, IndValue_2, BarsBack, BullColor, BearColor, HTF_Bar_Index)
Populates one array with drawing data of the HTF histogram with color based on: IndValue_1 >= IndValue_2 ? BullColor : BearColor.
Parameters:
HistValue (float) : Indicator value.
IndValue_1 (float) : First indicator value.
IndValue_2 (float) : Second indicator value.
BarsBack (int) : Indicator lines to display.
BullColor (color) : Bull color.
BearColor (color) : Bearcolor.
HTF_Bar_Index (int) : HTF bar_index
Returns: Two arrays with drawing and color data of the HTF histogram.
Populate_LTF_Hist_CC(HistValue, IndValue_1, IndValue_2, BarsBack, BullColor, BearColor)
Populates one array with drawing data of the LTF histogram with color based on: IndValue_1 >= IndValue_2 ? BullColor : BearColor.
Parameters:
HistValue (float ) : Indicator value.
IndValue_1 (float ) : First indicator value.
IndValue_2 (float ) : Second indicator value.
BarsBack (int) : Indicator lines to display.
BullColor (color) : Bull color.
BearColor (color) : Bearcolor.
Returns: Two array with drawing and color data of the LTF histogram.
Populate_LTF_Hist_CC_VA(HistValue, Value, BarsBack, BullColor, BearColor)
Populates one array with drawing data of the LTF histogram with color based on: HistValue >= Value ? BullColor : BearColor.
Parameters:
HistValue (float ) : Indicator value.
Value (float) : First indicator value.
BarsBack (int) : Indicator lines to display.
BullColor (color) : Bull color.
BearColor (color) : Bearcolor.
Returns: Two array with drawing and color data of the LTF histogram.
Populate_HTF_Ind_CC(IndValue, IndValue_1, BarsBack, BullColor, BearColor, HTF_Bar_Index)
Populates one array with drawing data of the HTF indicator with color based on: IndValue >= IndValue_1 ? BullColor : BearColor.
Parameters:
IndValue (float) : Indicator value.
IndValue_1 (float) : Second indicator value.
BarsBack (int) : Indicator lines to display.
BullColor (color) : Bull color.
BearColor (color) : Bearcolor.
HTF_Bar_Index (int) : HTF bar_index
Returns: Two arrays with drawing and color data of the HTF indicator.
Populate_LTF_Ind_CC(IndValue, IndValue_1, BarsBack, BullColor, BearColor)
Populates one array with drawing data of the LTF indicator with color based on: IndValue >= IndValue_1 ? BullColor : BearColor.
Parameters:
IndValue (float ) : Indicator value.
IndValue_1 (float ) : Second indicator value.
BarsBack (int) : Indicator lines to display.
BullColor (color) : Bull color.
BearColor (color) : Bearcolor.
Returns: Two arrays with drawing and color data of the LTF indicator.
Draw_Lines(BarsBack, y1, y2, LineType, Fill)
Draws price lines on indicators.
Parameters:
BarsBack (int) : Indicator lines to display.
y1 (float) : Coordinates of the first line.
y2 (float) : Coordinates of the second line.
LineType (string) : Line type.
Fill (color) : Fill color.
Returns: Drawing of the lines.
LineFill(Upper, Lower, BarsBack, FillColor)
Fills two lines with linefill HTF or LTF.
Parameters:
Upper (line ) : Upper line.
Lower (line ) : Lower line.
BarsBack (int) : Indicator lines to display.
FillColor (color) : Fill color.
Returns: Linefill of the lines.
Populate_LTF_Hist(HistValue, BarsBack, HistColor)
Populates one array with drawing data of the LTF histogram.
Parameters:
HistValue (float ) : Indicator value.
BarsBack (int) : Indicator lines to display.
HistColor (color) : Indicator color.
Returns: One array with drawing data of the LTF histogram.
Populate_HTF_Hist(HistValue, BarsBack, HistColor, HTF_Bar_Index)
Populates one array with drawing data of the HTF histogram.
Parameters:
HistValue (float) : Indicator value.
BarsBack (int) : Indicator lines to display.
HistColor (color) : Indicator color.
HTF_Bar_Index (int) : HTF bar_index.
Returns: One array with drawing data of the HTF histogram.
Draw_Hist(Box, Mult, Exe)
Draws HTF or LTF histogram.
Parameters:
Box (box ) : Box Array.
Mult (int) : Coordinates multiplier.
Exe (bool) : Display the histogram.
Returns: Drawing of the histogram.
Position calculator [krazke]This indicator will help you calculate your position. This will automatically calculate potential liquidation price and select leverage for your stop loss and risk size.
How to use it:
1. Select position direction. (long checkmark - selected if it's long)
2. Select entry. If you want to use custom entry price select checkmark and set value. (Current price is default entry)
3. Enter stop loss.
4. Enter risk.
5. Enter max leverage for current ticker.
P.S. Liquidation price is not 100% correct but it almost.
ATR Based EMA Price Targets [SS]As requested...
This is a spinoff of my EMA 9/21 cross indicator with price targets.
A few of you asked for a simple EMA crossover version and that is what this is.
I have, of course, added a bit of extra functionality to it, assuming you would want to transition from another EMA indicator to this one, I tried to leave it somewhat customizable so you can get the same type of functionality as any other EMA based indicator just with the added advantage of having an ATR based assessment added on. So lets get into the details:
What it does:
Same as my EMA 9/21, simply performs a basic ATR range analysis on a ticker, calculating the average move it does on a bullish or bearish cross.
How to use it:
So there are quite a few functions of this indicator. I am going to break them down one by one, from most basic to the more complex.
Plot functions:
EMA is Customizable: The EMA is customizable. If you want the 200, 100, 50, 31, 9, whatever you want, you just have to add the desired EMA timeframe in the settings menu.
Standard Deviation Bands are an option: If you like to have standard deviation bands added to your EMA's, you can select to show the standard deviation band. It will plot the standard deviation for the desired EMA timeframe (so if it is the EMA 200, it will plot the Standard Deviation on the EMA 200).
Plotting Crossovers: You can have the indicator plot green arrows for bullish crosses and red arrows for bearish crosses. I have smoothed out this function slightly by only having it signal a crossover when it breaks and holds. I pulled this over to the alert condition functions as well, so you are not constantly being alerted when it is bouncing over and below an EMA. Only once it chooses a direction, holds and moves up or down, will it alert to a true crossover.
Plotting labels: The indicator will default to plotting the price target labels and the EMA label. You can toggle these on and off in the EMA settings menu.
Trend Assessment Settings:
In addition to plotting the EMA itself and signaling the ATR ranges, the EMA will provide you will demographic information about the trend and price action behaviour around the EMA. You can see an example in the image below:
This will provide you with a breakdown of the statistics on the EMA over the designated lookback period, such as the number of crosses, the time above and below the EMA and the amount the EMA has remained within its standard deviation bands.
Where this is important is the proportion assessment. And what the proportion assessment is doing is its measuring the amount of time the ticker is spending either above or below the EMA.
Ideally, you should have relatively equal and uniform durations above and below. This would be a proportion of between 0.5 and 1.5 Above to Below. Now, you don't have to remember this because you can ask the indicator to do the assessment for you. It will be displayed at the bottom of your chart in a table that you can toggle on and off:
Example of a Uniform Assessment:
Example of a biased assessment:
Keep in mind, if you are using those very laggy EMAs (like the 50, 200, 100 etc.) on the daily timeframe, you aren't going to get uniformity in the data. This is because, stocks are technically already biased to the upside over time. Thus, when you are looking at the big picture, the bull bias thesis of the stock market is in play.
But for the smaller and moderate timeframes, owning to the randomness of price action, you can generally get uniformity in data representation by simply adjusting your lookback period.
To adjust your lookback period, you simply need to change the timeframe for the ATR lookback length. I suggest no less than 500 and probably no more than 1,500 candles, and work within this range. But you can use what the indicator indicates is appropriate.
Of course, all of these charts can be turned off and you are left with a clean looking EMA indicator:
And an example with the standard deviation bands toggled on:
And that, my friends, is the indicator.
Hopefully this is what you wanted, let me know if you have any suggestions.
Enjoy and safe trades!
Realized Profit & Loss [BigBeluga]The Realized Loss & Profit indicator aims to find potential dips and tops in price by utilizing the security function syminfo.basecurrency + "_LOSSESADDRESSES".
The primary objective of this indicator is to present an average, favorable buying/selling opportunity based on the number of people currently in profit or loss.
The script takes into consideration the syminfo.basecurrency, so it should automatically adapt to the current coin.
🔶 USAGE
Users have the option to enable the display of either Loss or Profit, depending on their preferred visualization.
Examples of displaying Losses:
Example of displaying Profits:
🔶 CONCEPTS
The concept aims to assign a score to the data in the ticker representing the realized losses. This score will provide users with an average of buying/selling points that are better to the typical investor.
🔶 SETTINGS
Users have complete control over the script settings.
🔹 Calculation
• Profit: Display people in profit on an average of the selected length.
• Loss: Display people in loss on an average of the selected length.
🔹 Candle coloring
• True: Color the candle when data is above the threshold.
• False: Do not color the candle.
🔹 Levels
- Set the level of a specific threshold.
• Low: Low losses (green).
• Normal: Low normal (yellow).
• Medium: Low medium (orange).
• High: Low high (red).
🔹 Z-score Length: Length of the z-score moving window.
🔹 Threshold: Filter out non-significant values.
🔹 Histogram width: Width of the histogram.
🔹 Colors: Modify the colors of the displayed data.
🔶 LIMITATIONS
• Since the ticker from which we obtain data works only on the daily timeframe, we are
restricted to displaying data solely from the 1D timeframe.
• If the coin does not have any realized loss data, we can't use this script.
Support and Resistance Backtester [SS]Hey everyone,
Excited to release this indicator I have been working on.
I conceptualized it as an idea a while ago and had to nail down the execution part of it. I think I got it to where I am happy with it, so let me tell you about it!
What it does?
This provides the user with the ability to quantify support and resistance levels. There are plenty of back-test strategies for RSI, stochastics, MFI, any type of technical based indicator. However, in terms of day traders and many swing traders, many of the day traders I know personally do not use or rely on things like RSI, stochastics or MFI. They actually just play the support and resistance levels without attention to anything else. However, there are no tools available to these people who want to, in a way, objectively test their identified support and resistance levels.
For me personally, I use support and resistance levels that are mathematically calculated and I am always curious to see which levels:
a) Have the most touches,
b) Have provided the most support,
c) Have provided the most resistance; and,
d) Are most effective as support/resistance.
And, well, this indicator answers all four of those questions for you! It also attempts to provide some way to support and resistance traders to quantify their levels and back-test the reliability and efficacy of those levels.
How to use:
So this indicator provides a lot of functionality and I think its important to break it down part by part. We can do this as we go over the explanation of how to use it. Here is the step by step guide of how to use it, which will also provide you an opportunity to see the options and functionality.
Step 1: Input your support and resistance levels:
When we open up the settings menu, we will see the section called "Support and Resistance Levels". Here, you have the ability to input up to 5 support and resistance levels. If you have less, no problem, simply leave the S/R level as 0 and the indicator will automatically omit this from the chart and data inclusion.
Step 2: Identify your threshold value:
The threshold parameter extends the range of your support and resistance level by a desired amount. The value you input here should be the value in which you would likely stop out of your position. So, if you are willing to let the stock travel $1 past your support and resistance level, input $1 into this variable. This will extend the range for the assessment and permit the stock to travel +/- your threshold amount before it counts it as a fail or pass.
Step 3: Select your source:
The source will tell the indicator what you want to assess. If you want to assess close, it will look at where the ticker closes in relation to your support and resistance levels. If you want to see how the highs and lows behave around the S/R levels, then change the source to High or Low.
It is recommended to leave at close for optimal results and reliability however.
Step 4: Determine your lookback length:
The lookback length will be the number of candles you want the indicator to lookback to assess the support and resistance level. This is key to get your backtest results.
The recommendation is on timeframes 1 hour or less, to look back 300 candles.
On the daily, 500 candles is recommended.
Step 5: Plot your levels
You will see you have various plot settings available to you. The default settings are to plot your support and resistance levels with labels. This will look as follows:
This will plot your basic support and resistance levels for you, so you do not have to manually plot them.
However, if you want to extend the plotted support and resistance level to visually match your threshold values, you can select the "Plot Threshold Limits" option. This will extend your support and resistance areas to match the designated threshold limits.
In this case on MSFT, I have the threshold limit set at $1. When I select "Plot Threshold Limits", this is the result:
Plotting Passes and Fails:
You will notice at the bottom of the settings menu is an option to plot passes and plot fails. This will identify, via a label overlaid on the chart, where the support and resistance failures and passes resulted. I recommend only selecting one at a time as the screen can get kind of crowded with both on. here is an example on the MSFT chart:
And on the larger timeframe:
The chart
The chart displays all of the results and counts of your support and resistance results. Some things to pay attention to use the chart are:
a) The general success rate as support vs resistance
Rationale: Support levels may act as resistance more often than they do support or vice versa. Let's take a look at MSFT as an example:
The chart above shows the 334.07 level has acted as very strong support. It has been successful as support almost 82% of the time. However, as resistance, it has only been successful 33% of the time. So we could say that 334 is a strong key support level and an area we would be comfortable longing at.
b) The number of touches:
Above you will see the number of touches pointed out by the blue arrow.
Rationale: The number of touches differs from support and resistance. It counts how many times and how frequently a ticker approaches your support and/or resistance area and the duration of time spent in that area. Whereas support and resistance is determined by a candle being either above or below a s/r area, then approaching that area and then either failing or bouncing up/down, the number of touches simply assesses the time spent (in candles) around a support or resistance level. This is key to help you identify if a level has frequent touches/consolidation vs other levels and can help you filter out s/r levels that may not have a lot of touches or are infrequently touched.
Closing comments:
So this is pretty much the indicator in a nutshell. Hopefully you find it helpful and useful and enjoy it.
As always let me know your questions/comments and suggestions below.
As always I appreciate all of you who check out, try out and read about my indicators and ideas. I wish you all the safest trades and good luck!
Combined Spot Volume | Crypto v1.1 [kAos]This script combines the "ticker volume" from 9 different exchanges. The default settings are for Crypto Assets only. In the settings window you can choose to plot the "combined volume" in a histogram form or "individual exchange volume" in an area view. (as shown on the chart) Addition to the plots there is also an Info Table in the bottom right corner that brakes down the volume to individual exchanges, shows how much volume was traded on which exchange. If the Table shows "NaN" on an exchange you need to check the spelling of that exchange, if thats correct, than the ticker is not available on that exchange.
Time Series Model IndicatorHello,
I am releasing this time series modelling indicator.
Brief overview of the indicator's functionality:
The Time Series Model indicator is a technical analysis tool that calculates and visualizes a linear regression line based on historical price data. It assesses the trend direction and provides an outer band around the regression line to indicate potential support and resistance levels. The indicator also detects outliers in the price data and calculates correlations between the time variable and the closing price. It offers various customization options such as input length, user-defined hours in advance, display settings for tables and fills, and the ability to show variable correlations. Overall, this indicator aims to help traders identify trends, potential reversals, and price extremes in a given time series.
Specific Functions:
Slope Calculations: The indicator calculates the slope and intercept of the regression line using the specified length of assessment (user defined). It also computes the residuals, standard error of the regression, and the upper and lower bounds of the standard error region. Additionally, it calculates multiple standard deviation bands around the regression line. The slope will change to green if the stock is in an uptrend and to red if the stock is in a downtrend.
Outliers: This feature detects extreme positive and negative outliers based on the z-score calculated from the price data. It highlights the outliers with a red background color to red if this option is selected.
Correlation to Time Assessments: This feature performs trend assessments based on the correlation between time and price data. It identifies uptrends, downtrends, falling trends, rising trends, etc.
Outerband Plots: This feature plots the regression line, standard error bands, and multiple standard deviation bands around the regression line. It also fills the areas between these lines.
Trend Assessment: This feature further assesses the trend based on the strength of the correlation. It identifies strong up or down trends, moderate trends, weak trends, no trend, etc.
Linear Regression Time Data: This section retrieves price data (close, high, low, open) for the specified timeframe and stores them in arrays for a linear regression analysis.
Define LinReg Variables: This section calculates linear regression lines and their upper and lower control limits for the close, low and high prices. It also calculates the correlation between close price and time.
Manual assessments: This feature allows for the manual assessment of time series data. The user can input a look forward for hours in the future and get the predicted price range based on the current time relationship. See image below:
Calculating model "fit": The indicator will display the amount of time the stock closes within and outside its respective bands to ascertain the degree of "fit" (see image below):
Explanations:
The outer cloud: The outer, tealish green cloud represents the regression line + 1.5 standard deviations from the regression line.
The inner cloud: The inner, white coloured cloud represents the immediate time series range calculated through regression of the open, high and low price of the ticker.
Correlations:
The ability of the indicator to calculate correlations on both the smaller and larger timeframes are its strongest feature. You can see the formation of trends by tracking the correlation over the length of the time series model's assessment. You can also track the degree of change. The image below shows the correlation table:
In this image, we can see that the stock is in a moderate downtrend manifested by a correlation of -0.73 (purple arrow).
This downtrend is weakening as manifested by a positive change of 0.05 on the shorter timeframe.
If we scroll down on the table and see the Close, High and Low, we can see that the larger trend over time is a downtrend and that this downtrend is actually strengthening. We know this by the negative change (negative change = significant inverse relationship to time is increasing. i.e. as time increases, the stock price decreases proportionately).
So what does negative correlation to time mean?
If a stock's price exhibits a negative correlation to time, it implies that there is a systematic relationship between the passage of time and the stock's price movement in the opposite direction. This finding could have several potential implications for traders and investors. Firstly, it suggests that the stock's price tends to decrease as time progresses, indicating a downward trend or bearish sentiment. This information might be useful for traders looking to capitalize on short-selling or hedging strategies. Secondly, it could indicate a potential opportunity to predict future price movements based on the timing of negative correlations. By understanding the relationship between time and price, investors may be able to make more informed decisions about when to buy or sell the stock. Lastly, a negative correlation to time may also suggest the influence of external factors or market conditions that systematically impact the stock's performance over time. Therefore, monitoring this correlation can provide insights into broader market dynamics and help investors better understand the stock's behavior.
What about a positive correlation to time?
If a stock's price demonstrates a positive correlation to time, it means that there is a consistent relationship between the passage of time and the stock's price movement in the same direction. This positive correlation to time can have significant implications for traders and investors. Firstly, it indicates a potential upward trend or bullish sentiment, suggesting that the stock's price tends to increase as time progresses. This information can be valuable for investors seeking long-term growth opportunities or looking to capitalize on upward price movements. Secondly, a positive correlation to time may provide insights into the stock's historical performance patterns and help identify potential buying or selling opportunities based on the timing of positive correlations. Additionally, understanding this correlation can aid in assessing the stock's overall trajectory and identifying potential market trends. It's important to note that positive correlation to time does not guarantee future performance, but it can offer valuable information to inform investment decisions.
Because this indicator is pretty big, I have done an overview and tutorial video which I will link below:
As always, please leave your comments and suggestions below.
I thank you for taking the time to read and check out this indicator.
Safe trades everyone and enjoy your weekend!
Autoregressive CloudHello,
I am releasing this indicator called the Autoregressive Cloud Indicator.
What it does:
The indicator performs an autoregression analysis on 3 price variables of a ticker, those being the High, the Low and the Close. It uses a 1-lag system and looks back at the previous close, high and low’s effect on the proceeding high, low and close. It then plots out the anticipated range for the ticker based on the autoregression analysis, as well as displays the lag-correlation (autocorrelation) in a table.
What is Autoregression analysis?
Autoregression is a modelling technique used to describe a time series based on its own past values. It assumes that the current value of a variable is a linear combination of its previous values and a random error term.
And what is autocorrelation?
Autocorrelation measures the correlation between a time series and its lagged values. It quantifies the degree to which the current value of a series is related to its past values at different lags, indicating any patterns or dependencies in the data over time. Autoregression and autocorrelation are closely related concepts used to analyze and model time series data.
So how does it work?
The indicator calculates autoregressive values for the close, high, and low prices of a security based on the specified lookback length (which is defaulted to 50). It then plots three sets of clouds representing the smoothed autoregressive values for each price component (done using the SMA function). The transparency of the clouds can be adjusted using the "Transparency" input. Additionally, the code includes a correlation table that displays the correlation coefficients between the lagged values of the close, high, and low prices. The table's position can be customized using the "Position" input.
The indicator defaults to the chart timeframe; however, you can manually adjust the indicator to display the range for whatever timeframe you would like. You can view the 30 minute, 15 or even hourly range on the 1 minute or 5 minute chart if you want.
The indicator will show the anticipated “true trading range” of the stock based on the autoregression and autocorrelation of all 3 variables:
Above is SPY on the 5 minute timeframe with 15 minute levels overlayed. Here, you can see the anticipated trading range for that 15 minute time period.
Using the Correlation Table:
The correlation table displays the Pearson Coefficient for all 3 autoregressions.
A positive correlation: A positive autocorrelation indicates a positive relationship between past and current values of a time series variable. It suggests that when the variable has a high value at a certain time, it is more likely to have a high value in the future, and when it has a low value, it is more likely to have a low value in the future. This positive autocorrelation can imply persistence or trend in the data, indicating that past values can provide useful information for predicting future values. The rule of thumb is anything over 0.5 is considered significant.
A positive correlation among all 3 variables also indicates an uptrend. If you see a strong positive (i.e. the values are all greater than 0.8), it indicates an incredibly decisive and strong uptrend.
A negative correlation: A negative autocorrelation indicates an inverse relationship between past and current values of a time series variable. It suggests that when the variable has a high value at a certain time, it is more likely to have a low value in the future, and vice versa. This negative autocorrelation can imply mean reversion or oscillatory behavior in the data, where extreme values tend to be followed by values closer to the average. It indicates that past values can provide useful information for predicting future values by anticipating a reversal in the direction of the variable. The rule of thumb is anything below or equal to -0.5 is considered significant.
A negative correlation among all 3 variables also indicates a downtrend. If you see a strong negative (i.e. the values are all less than or equal to -0.8), it indicates an incredibly decisive and strong downtrend.
Uses of the Indicator:
The indicator can be used for the following functions:
1. Day trading and scalping within an expected range;
2. Determining the strength or weakness of an uptrend or downtrend on various timeframes;
3. Determining the relationship between previous values and past performance and its effect on future performance;
4. Can alert to changes in trend direction in advance (you may see high, low or close turn negative before others, signifying that weakness is beginning to materialize in an uptrend, or inverse in a downtrend (value changes positive)).
Customizability:
SMA: The autoregression data is smoothed by a 3 period lookback. You can change this if you want, but in order for the indicator to present the true trading range, it is recommended to leave it at <= 3.
Lookback Length: This is the length of the lookback period for the autoregression and autocorrelation functions.
Transparency settings: You can adjust the transparency of the clouds manually.
Timeframe: You can adjust the timeframe, as explained above, to display the timeframe of interest. When you adjust the timeframe, the data will all reflect that timeframe and not necessarily the current TF you have open (i.e. you select 30 minutes while viewing it on the 5 minute, it will show the data for the 30 minute TF period).
Video Tutorial:
I have prepared a video outlining the indicator and also explaining the theory of autoregression/correlation. You can find it below:
Let me know any comments, questions or suggestions below.
Thank you for taking the time to read/watch and check out this indicator.
Safe trades everyone!
Biddles OI Weighted Average PriceAhoy!
This script calculates Open Interested Weighted Average Price for the following lookback periods:
- 7, 30, 60
e.g. On the 1D chart, you will see OIWAP for the past 7, 30, and 60 days. It works on any timeframe though.
It works with any ticker that TV's OI indicator supports, and has ticker override if you are looking at an exchange that's unsupported, but for an asset that is.
e.g. If you're looking at Bybit's BTCUSDT.P which is unsupported- you can override to get OI data from Binance's BTCUSDT.P which is supported.
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Open-Sourced + Crowd Sourcing Goals
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I am open sourcing this in hopes we can work together to find interesting signal/observation, and make the script better.
The only way I could think of to calculate the OIWAP for the lookback periods was to manually factor in each period in the formula.
e.g. For the 60-period lookback, it's manually taking price and OI for each individual period.
I am also hoping other folks will make interesting observations.
With the few hours I've spent thus far, they seem to operate much like MA bands, with crossovers having similar implications.
But I feel like there are many other observations left unnoticed!
If you find any, hmu on twitter: @thalamu_
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Interesting Calculations in the Script, but not Plotted on the Chart
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There are calculations for up to 60 days of OIWAP taking change in OI rather than just OI.
There's one set for absolute value of change in OI, and one set for raw change in OI.
I didn't notice anything spectacularly interesting - but perhaps you will if you tinker with it!
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Find something cool? Have an improvement?
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Hmu on twitter: @thalamu_
X48 - Strategy | ADAPTIVE CONSECUTIVE + TP/SL | V.1Thanks For Tradingview Built-in Script :: << Original From Consecutive Strategy Built-in Script >>
================== Read This First Before Use This Strategy ==============
Please be aware that this strategy is not a guarantee of success and may lead to losses.
Trading involves risk and you should always do your own research before making any decisions.
This Strategy Just an Idea For Help Your Decision For Open Position.
You Must Be Search and Make Your Self Understand What You Doing In This Strategy.
Example :: This Strategy and Indicator Find The Consecutive Bars And You, You Are Reading Must Be Decision Up to You !!
For Backtest Show It's That For a Newbie 100$ Portfolio and 16.333$ Per Order Size
>>>> Read Me First !! <<<<<
========== Detailed and meaningful description =========
How It's Work : This Strategy are Following Green or Red Candle :: example 3 Green Candle To OpenLong Position
Can Set TP/SL if you want :: Just Fine The Best Value of Asset as you want
Fast Trend = MA FAST LINE
SLOW Trend = MA SLOW LINE
MID-TERM TREND = MA MID-TERM
LONG-TERM TREND = MA LONG-TERM
=========== Condition And Statement ===========
Long Condition Statement :: Candles Consecutive Bars Up and close > golden_line and fast_line > golden_line
Short Condition Statement :: Candles Consecutive Bars Down and close < golden_line and fast_line < golden_line
AutoCloseLong Condition :: Candles ConsecutiveBarsDownStop and close > golden_line and close < death_line and close < death_line and close < death_line or fastUpdeath
AutoCloseShort Condition :: Candles ConsecutiveBarsUpStop and close < golden_line and close > death_line and close > death_line and close > death_line or fastUpdeath
====== For ADAPTIVE you can customize your ALL MA For Your Statement
/////////For Example Hook Alert Command ////////////
Just Easy Command >> :: {{strategy.order.alert_message}}
Or Other Json You Should Edit Command Like This Example
{"ex":"'bnfuture'","side": "AutoLong", "$16.333", "symbol": "{{ticker}}", "passphrase": "1234","leverage":"10", "tp" : "5", "sl" : "2", "tl" : "2", "callback" : "1"}
{"ex":"'bnfuture'","side": "AutoShort", "$16.333", "symbol": "{{ticker}}", "passphrase": "1234","leverage":"10", "tp" : "5", "sl" : "2", "tl" : "2", "callback" : "1"}
