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[Unxi]McClellan Summation Index for DAX 30 (GER30) [modified]About McClellan Summation Index The McClellan Summation Index is a market breadth indicator which was developed by Sherman and Marian McClellan. It is based on the McClellan Oscillator and add its values together, effectively running a total. The index goes up when the McClellan Oscillator is positive and goes down when it is negative. Signals can be derived from the index crossing the middle line (bullish when it's crossing up and bearish when it's crossing down). Other potential signals include divergences and overbought and oversold conditions. The indicator is best used in combination with other analysis techniques. About this implementation This version here is a modification of the McClellan Summation Index. It runs the simple version of the McClellan Oscillator and uses the simple method to calculate the Summation Index. No ratios are used in this implementation. Further information: - It can only be used on the DAX index ( DAX 30 or GER 30) - It only considers the DAX 30 stocks - The data window will provide a summary about rising and declining stocks - The data window will output the last change for each of the 30 stocks - The script is pretty slow because it has to calculate the change for each bar individually (instead of receiving a complete calculation from the stock exchange). DISCLAIMER This script was mainly written for educational purposes (training myself how to write custom indicatotors). As you can see, the code is really messy. FOR YOUR INFORMATION: This script will work on any time period. It is recommended to use it with timeperiod = 1d, though. Just use whatever timeperiod you are comfortable with, the indicator will automatically adjust accordingly. Credits Based on the simple version of aftabmk and of code from lazybear.
Pine Script® Indikator
von Unxi
2
RedK_9/30 Trader_v1: aka The MusicianThis is my implementation of a simple trading system inspired by the 9/30 trading strategy, which i came across few years ago. i hope some traders are still using it :) (please google "9/30 trading strategy" if you're not sure what it is) - the improvements i added focus on: faster (long/short) signals, discovery of best entry "zone", ride the trend - no exit option, trader can use a pre-set target, a trailing stop, or any other mechanisms - i tried to explain some of the definitions and rules on the below chart - in spite if its simplicity, the 9/30 has a lot to offer - different traders will also use it differently and add their own "do's and don't's" default settings should be adjusted to suit timeframe, type of trader and what is being traded (Stocks, FOREX,..etc) - the concept itself is very flexible and well-tested for mechanical trading. code-named "The Musician" due to the 5-line plot :) i will continue to improve this work whenever i find time - i liked it a lot.. (please tag the idea to receive the updates) Extras and improvements (compared to the classic 9/30 concept) --------------------------------------------------------------------------------- * signal line is a smoothed zero-lag WMA of a shorter length (responds faster to trend change = faster signal) * instead of a single longer MA line, we utilize an "average range" -based channel (not ATR, but provides the same concept) to provide the ideal "entry zones" in both directions - an adjustable multiplier is included in the settings to adjust the channel width * adds an optional long EMA as additional filter (take longs only above, take shorts only below) * clearer visualization What's next: ============== * clean-up code * add signals (arrow-up & arrow-dn) for entry and for exit * tri-color signal line (green on long, red on short, gray on no trade) * other options for the channel (ATR-based, DC center-line..etc) * other MA-type options for the Filter MA (SMA, WMA ?) * maybe: convert to strategy and back-test Please feel free to explore and test - Comments and feedback are welcome. Good Luck!
Pine Script® Indikator
von RedKTrader
8
WMA 5/10/30/40/80/1006 WMAs on the chart: 5, 10, 30, 40, 80, and 100 — each in its own color. This indicator plots multiple Weighted Moving Averages (WMA) on the price chart: 5, 10, 30, 40, 80, and 100. Shorter WMAs (5 & 10) react quickly to price changes and are useful for short-term trend detection. Longer WMAs (30, 40, 80, 100) help identify medium- to long-term trends and dynamic support/resistance zones. Traders often watch for crossovers between short-term and long-term WMAs as potential trade signals.
Pine Script® Indikator
von blueb3rry
% of stocks in spx above 200 ma— Simplified (30/70 levels)S5TH Breadth Suite — Simplified (30/70 Levels) This indicator tracks the S&P 500 % of stocks above their 200-day moving average (S5TH), plotted on a 0–100 scale. • Line Plot: Blue line shows the breadth percentage. • Key Levels: • 70 → Overbought zone • 50 → Neutral midpoint • 30 → Oversold zone • Background Shading: • Red tint = Oversold (<30) • Green tint = Overbought (>70) • Signals & Alerts: • Circles mark midline crossovers. • Arrows show exits from extreme zones (oversold/overbought). • Alerts can be set for each condition. ✅ Clean design — no moving averages. ✅ Helps spot breadth extremes, reversals, and trend shifts. ✅ Works on any timeframe (default is chart TF).
Pine Script® Indikator
von Virk48
10 Monday's 1H Avg Range + 30-Day Daily RangeWhat This Script Does This indicator is designed for traders who want to monitor volatility and range behavior at the start of the trading week . It focuses specifically on the first four 15-minute candles of each Monday and tracks their combined high-low range over time. How It Works Monday 1H Range Detection: Each week, it automatically detects and highlights the first 4 candles of Monday on a 15-minute chart (1 hour total). It calculates the range between the highest high and lowest low of these candles. 10-Week Average of Monday 1H Ranges: It stores and averages the last 10 such ranges, displaying this average in a table for weekly comparison. 30-Day Daily Range Average: Separately, it calculates the average daily range (high – low) of the last 30 daily candles. This value helps put the Monday 1H range into broader context and can guide Stop Loss or TP planning. Dynamic Labeling & Visual Highlights: The script visually highlights the first 4 candles of Monday and places a label showing the pip range once the 4 candles have completed. It also updates a small table with the two averages described above. How to Use It Use it on the 15-minute timeframe to activate the Monday 1H logic. Compare the current week’s Monday range to the 10-week average to see if volatility is increasing or decreasing. Use the 30-day daily range to determine if the Monday opening movement is unusually large or small. Consider adjusting trade entries, stops, or targets if the Monday range is disproportionately large compared to recent historical behavior. What Makes It Original? This is not a typical volatility indicator like ATR or standard deviation. Instead, it’s a purpose-built tool combining: Time-specific behavior (first hour of the week), Historical contextualization (10-week average tracking), A dual-timeframe analysis (15-min + daily), A user-friendly table and visual interface. This script helps intraday or swing traders spot abnormal volatility early in the week and adjust their strategies accordingly—especially in fast-moving Forex or Index markets.
Pine Script® Indikator
von bramirez37
Prev-Day High-Low Box 09:30-15:30This indicator plots a visual range box for the previous day's regular trading session, based specifically on 09:30 AM to 3:30 PM market hours (Eastern Time by default). Features: Automatically detects each new trading day Draws a box from the previous day’s high to low Box extends into the current session for a set number of bars (default: 160) Labels mark the previous high and previous low individually Clean and minimal — only one box and label set is drawn at a time Works on intraday timeframes (1min, 5min, 15min, etc.) Use it to: Identify zones of interest from the last session Watch for breakouts, reversals, or mean reversion setups Combine with VWAP, moving averages, or price action for added context This tool is handy for day traders and scalpers who want to map out the structure of prior sessions during live trading hours.
Pine Script® Indikator
von rdiyali
Bull Flag (9:30-12:00 Only) [One-Liner Fix]🚀 Bull Flag Breakout Strategy | Intraday Momentum (9:30-12:00) 🔥📈 💡 Designed for Intraday Traders who love momentum breakouts and want to automate Bull Flag setups with volume confirmation! This strategy detects strong bullish moves, measures pullbacks, and triggers trades when the first candle makes a new high—ensuring maximum momentum. ⸻ 🏆 Why This Strategy? ✅ Bull Flag Pattern Automation – No need to manually spot pullbacks! 🎯 ✅ Smart Volume Confirmation – Only enter trades when breakout volume is strong! 📊 ✅ Morning Session Focused (9:30 - 12:00 EST) – Trade when momentum is at its peak! ⏰ ✅ Customizable ATR & Risk Settings – Adjust pullback %, stop-loss, and take-profit! 🛠️ ✅ Backtest-Friendly – See how the strategy performs over time! 🔍 ⸻ 🎯 How It Works 📌 Step 1: Detects a Bullish Impulse Bar 🔹 Large green candle 🚀 🔹 Candle range > ATR multiplier 🔹 Volume > Average volume threshold 📌 Step 2: Confirms a Valid Pullback 🔸 Pullback must stay within % range of the impulse move 📉 🔸 If the pullback is too deep or takes too long, the setup is ignored ⛔ 📌 Step 3: First Candle to Make a New High 📈 🔹 When a candle breaks the previous high and volume confirms, go long! 💰 🔹 Stop-Loss set at pullback low 🔹 Take-Profit at Risk:Reward (R:R) Target 🎯 ⸻ 🔥 Best For 💎 Scalpers & Day Traders – Capture short-term breakout momentum! ⚡ 📊 Backtesters – Optimize ATR, volume, and pullback rules for best performance! 🧪 ⏳ Morning Momentum Traders – Focus on 9:30-12:00 AM EST for higher probability setups! ⸻ 🚨 Important Notes 🔹 This strategy is not financial advice! 📜 🔹 Always backtest & paper trade before using real money! 📉📈 🔹 Volatility varies – Customize settings based on your trading style! 🔧 🚀 Like this script? Give it a try & let us know how it works for you! 🔥👊 ⸻
Pine Script® Strategie
von Abdul_Mughees
CCI Buy and Sell Signals with 20/30 EMACCI Buy and Sell Signals with EMA and ATR Stop Loss/Take Profit This indicator is designed to identify buy and sell signals based on a combination of the Commodity Channel Index (CCI) and Exponential Moving Averages (EMA). It also includes an optional ATR-based stop loss and take profit system, which is useful for traders who want to manage their trades with dynamic risk levels. Features: CCI Buy and Sell Signals: Buy Signal: A buy signal is triggered when the CCI crosses up through -100 (from an oversold condition), the 20-period EMA is above the 30-period EMA, and the price is above the 200-period EMA. This suggests that the market is entering an upward trend. Sell Signal: A sell signal is triggered when the CCI crosses down through +100 (from an overbought condition), the 20-period EMA is below the 30-period EMA, and the price is below the 200-period EMA. This suggests that the market is entering a downward trend. Exponential Moving Averages (EMA): The script plots three EMAs: 20-period EMA (Green): Used to identify short-term trends. 30-period EMA (Red): Used to capture medium-term trends. 200-period EMA (Orange): A long-term trend filter, with the price above it generally indicating bullish conditions and below it indicating bearish conditions. ATR-Based Stop Loss and Take Profit: Optional Feature: The ATR (Average True Range) indicator can be used to set stop loss and take profit levels based on market volatility. Stop Loss: Set at a multiple of the ATR below the entry price for long positions and above the entry price for short positions. Take Profit: Set at a multiple of the ATR above the entry price for long positions and below the entry price for short positions. Customizable: You can adjust the ATR length, Stop Loss Multiplier, and Take Profit Multiplier through the settings. Dots: The stop loss and take profit levels are plotted as dots on the chart when the ATR feature is enabled. Alert Conditions: Buy Signal Alert: Triggered when a buy signal occurs based on CCI crossing up -100 and other conditions being met. Sell Signal Alert: Triggered when a sell signal occurs based on CCI crossing down +100 and other conditions being met. Any Signal Alert: This is a combined alert that triggers for either a buy or sell signal. It helps you stay updated on both types of signals simultaneously. How to Use: The indicator will plot buy and sell arrows on the chart, giving clear entry points for trades based on CCI and EMA conditions. The ATR stop loss and take profit dots (when enabled) provide automatic risk management levels, adjusting dynamically with market volatility. Traders can customize the ATR settings to fine-tune their stop loss and take profit levels, making this strategy adaptable to different trading styles and market conditions.
Pine Script® Indikator
von OLLIE_MAC
RSI 30-50-70 moving averageDescription: The RSI 30-50-70 Moving Average indicator plots three distinct moving averages based on different RSI ranges (30%, 50%, and 70%). Each moving average corresponds to different market conditions and provides potential entry and exit signals. Here's how it works: • RSI_30 Range (25%-35%): The moving average of closing prices when the RSI is between 25% and 35%, representing potential oversold conditions. • RSI_50 Range (45%-55%): The moving average of closing prices when the RSI is between 45% and 55%, providing a balanced perspective for trend-following strategies. • RSI_70 Range (65%-75%): The moving average of closing prices when the RSI is between 65% and 75%, representing potential overbought conditions. This indicator offers flexibility, as users can adjust key parameters such as RSI ranges, periods, and time frames to fine-tune the signals for their trading strategies. How it Works: Like traditional moving averages, the RSI 30-50-70 Moving Averages can highlight dynamic levels of support and resistance. They offer additional insight by focusing on specific RSI ranges, providing early signals for trend reversals or continuation. The default settings can be used across various assets but should be optimized via backtesting. Default Settings: • RSI_30: 25% to 35% (Oversold Zone, yellow line) • RSI_50: 45% to 55% (Neutral/Trend Zone, green line) • RSI_70: 65% to 75% (Overbought Zone, red line) • RSI Period: 14 Buy Conditions: • Use the 5- or 15-minute time frame. • Wait for the price to move below the RSI_30 line, indicating potential oversold conditions. • Enter a buy order when the price closes above the RSI_30 line, signaling a recovery from the oversold zone. • For a more conservative approach, use the RSI_50 line as the buy signal to confirm a trend reversal. • Important: Before entering, ensure that the RSI_30 moving average has flattened or started to level off, signaling that the oversold momentum has slowed. Sell Conditions: • Use the 5- or 15-minute time frame. • Wait for the price to close above the RSI_70 line, indicating potential overbought conditions. • Enter a sell order when the price closes below the RSI_70 line, signaling a decline from the overbought zone. • Important: Similar to buying, wait for the RSI_70 moving average to flatten or level off before selling, indicating the overbought conditions are stalling. Key Features: 1. Dynamic Range Customization: The indicator allows users to modify the RSI ranges and periods, tailoring the moving averages to fit different market conditions or asset classes. 2. Trend-Following and Reversal Signals: The RSI 30-50-70 moving averages provide both reversal and trend-following signals, making it a versatile tool for short-term traders. 3. Visual Representation of Market Strength: By plotting moving averages based on RSI levels, traders can visually interpret the market’s strength and potential turning points. 4. Risk Management: The built-in flexibility allows traders to choose lower-risk entries by adjusting which RSI level (e.g., RSI_30 vs. RSI_50) they rely on for signals. Practical Use: Different assets respond uniquely to RSI-based moving averages, so it's recommended to backtest and adjust ranges for specific instruments. For example, volatile assets may require wider RSI ranges, while more stable assets could benefit from tighter ranges. Checking for Buy conditions: 1st: Wait for current price to go below the RSI_30 (yellow line) 2nd: Wait and observe for bullish divergence 3rd: RSI_30 has flattened indicating potential gain of momentum after a bullish divergence. 4th: Enter a buy order when the price closed above the RSI_30, preferably when a green candle appeared.
Pine Script® Indikator
von DexterMGarcia
RSI Overlay Table - 30 Tickers Sorted with ColorOverview The RSI Overlay Table script provides traders with a powerful tool to monitor the Relative Strength Index (RSI) across multiple tickers in real-time. This script enables users to keep track of up to 30 different assets simultaneously, displaying their RSI values in an easy-to-read table format directly on the chart. It helps traders identify overbought and oversold conditions quickly, enhancing their ability to make informed trading decisions. Key Features Monitor Multiple Tickers: Track the RSI values of up to 30 different tickers at once. This allows users to have a broad view of market conditions across various assets without the need to switch between charts. Dynamic RSI Calculations: The script calculates the RSI using the user-defined length, providing flexibility to adjust sensitivity based on the trading strategy. The default RSI length is set to 14, a commonly used period in technical analysis. Customizable Overbought and Oversold Levels: Users can define their own overbought and oversold RSI levels, allowing them to tailor the script to their trading style. By default, the overbought level is set at 70, and the oversold level is set at 30. Hide Neutral Rows Option: To help traders focus on the most critical signals, the script includes an option to hide rows where the RSI values are neither overbought nor oversold. This feature helps traders concentrate on assets that are more likely to experience a price reversal. Color-Coded Alerts: The script highlights overbought and oversold conditions with distinct colors: Red: Indicates that the asset is overbought (RSI above the user-defined overbought level). Green: Indicates that the asset is oversold (RSI below the user-defined oversold level). How to Use the RSI Overlay Table Script Input Tickers: Enter up to 30 ticker symbols in the script settings. The script will automatically fetch the RSI values for each ticker and display them in the overlay table on the chart. Adjust RSI Settings: Modify the RSI length and the overbought/oversold levels according to your trading strategy. These settings can be adjusted in the script input panel. Use the Hide Neutral Rows Option: Toggle the “Hide Neutral Rows” option to focus only on tickers that are in overbought or oversold conditions. This feature is useful for traders who wish to filter out less significant signals and only act on strong RSI indicators. Interpret the Table: The table will display each ticker symbol alongside its current RSI value. Tickers with RSI values above the overbought level will be highlighted in red, suggesting a potential sell signal. Tickers with RSI values below the oversold level will be highlighted in green, indicating a potential buy signal. Application and Strategy The RSI Overlay Table script is designed for traders who manage multiple assets and need to monitor their technical indicators efficiently. It is particularly useful for: Swing Traders: Identifying overbought and oversold conditions to time entries and exits. Portfolio Managers: Monitoring the relative strength of various assets in a portfolio. Scalpers: Quickly spotting extreme price movements across multiple assets. Notes This script is intended to be used as a supplementary tool for technical analysis. Always use it in conjunction with other indicators and market analysis techniques. The RSI values and signals provided by this script should not be taken as financial advice. The RSI Overlay Table script provides a clear and efficient way to track RSI values across multiple assets, helping traders make more informed decisions. By offering customizable settings and a clean, color-coded interface, this tool aims to enhance the user's trading experience and streamline their analysis process.
Pine Script® Indikator
von BitcoinMillio18
Candle Counter from 9:30 AM to 4:00 PMThis Pine Script, designed for TradingView, serves as a candle counter exclusively for a 5-minute chart. It operates within the specific market hours of 9:30 AM to 4:00 PM. Key features of the script include: Market Hours Specification: The script is configured to track candles only during the trading hours from 9:30 AM to 4:00 PM. Daily Reset: Each trading day, the candle counter resets, starting anew from the market opening at 9:30 AM. Candle Counting: It increments a counter with each 5-minute candle during the specified market hours. Label Display: The counter number for each candle is displayed as a label at the candle's low point. This label is in bright white color with large font size, ensuring clear visibility against various chart backgrounds. 5-Minute Chart Specificity: The script is tailored to function only when the chart is set to a 5-minute timeframe, making it ideal for traders focusing on intraday movements. New Day Detection: Utilizes a function to identify the start of a new trading day, ensuring accurate daily counting. This script is particularly useful for traders who focus on intraday trading within the standard stock market hours, providing a clear and easy-to-read candle count that resets daily.
Pine Script® Indikator
von MachineLearningInc
2
Kassa 30 70 90 Eröffnung Kassa 30 – Subtle Lines with Offset Labels This indicator plots horizontal price levels at ±30, ±70, and ±90 points from the market’s opening price (default 09:00). The lines are displayed in soft gray tones to avoid chart distraction, while the labels are positioned to the left of the lines for a clean, unobstructed view of price action. Lines extend for 3 hours after market open, making this tool ideal for breakout strategies, scalping setups, and identifying key intraday price zones.
Pine Script® Indikator
von sfloe30
1
90/30 Minute Cycle BoxesThis indicator automatically draws time-based cycle boxes to help visualize market structure and cyclical behavior. Features: 90-Minute Primary Cycles: Highlights each 90-minute interval with a colored box, showing the high and low of that period. 30-Minute Sub-Cycles: Each 90-minute box is divided into 3 sub-boxes representing 30-minute phases. Multi-Timeframe Compatible: Works on all timeframes, adapting dynamically to your chart. Visual Clarity: Alternating box colors make it easy to track price action within and across cycles. This tool is ideal for traders who use time cycles in their analysis, especially those applying ICT, Smart Money Concepts, or time-based market theories.
Pine Script® Indikator
von fernando77castroo
3SMA +30 Stan Weinstein +200WMA +alert-crossingIndicator Description: Stan Weinstein Strategy + Key Moving Averages 🔹 Introduction This indicator combines the Classic Stan Weinstein Strategy with a modern update based on the author’s latest recommendations. It includes key moving averages that help identify trends and potential entry or exit points in the market. 📊 Included Moving Averages (Fully Customizable) All moving averages in this indicator have modifiable parameters, allowing users to adjust values in the input settings. 1️⃣ 30-Week SMA (Stan Weinstein): A long-term trend indicator defining the asset’s main trend. 2️⃣ 40-Week SMA (Weinstein Update): An adjusted version recommended by the author in his recent updates. 3️⃣ 10-Day SMA: Displays short-term price action and helps confirm trend changes. 4️⃣ 100-Day SMA: A medium-term trend measure used by traders to assess trend strength. 5️⃣ 200-Day WMA (Weighted Moving Average): A very long-term indicator that filters market noise and confirms solid trends. 🔍 How to Interpret It ✔️ 30/40-Week SMA in an uptrend → Confirms an accumulation phase or an upward price trend. ✔️ Price above the 200-WMA → Indicates a strong and healthy long-term trend. ✔️ 10-SMA crossing other moving averages → Can signal an early entry or exit opportunity. ✔️ 100-SMA vs. 200-WMA → A breakout of the 100-SMA above the 200-WMA may signal a new bullish phase. 🚨 Built-in Alerts (Key Crossovers) The indicator includes automatic alerts to notify traders when key moving averages cross, allowing timely reactions: 🔔 10-SMA crossing the 40-SMA → Possible medium-term trend shift. 🔔 10-SMA crossing the 200-WMA → Confirmation of a stronger trend. 🔔 40-SMA crossing the 200-WMA → Long-term trend reversal signal. 💡 Customization: All moving average periods can be adjusted in the input settings, making the indicator flexible for different trading strategies.
Pine Script® Indikator
von Magm7
Prev Day & Curr Day H/L + Opening Range (9:30, 5min)Script Description: This TradingView Pine Script is designed for use on a 5‑minute chart and plots key price levels for daily trading analysis. It automatically draws: • Previous Day High/Low Lines: These lines mark the previous day’s regular trading hours (RTH) high and low levels, with labels (“PDH” and “PDL”) for easy identification. • Current Day High/Low Lines: As the trading day progresses, the script updates and displays the current day’s RTH high and low levels, labeled as “CDH” and “CDL”. • Opening Range for 9:30 AM: The script specifically identifies the first 5‑minute candle at 9:30 AM (using the “America/New_York” time zone) and draws two additional lines at its high and low. These lines are labeled “HighOpen” and “LowOpen” to indicate the opening range. All lines are drawn with a width of 5 and have configurable colors, styles, and extension lengths. The script automatically resets at the start of each new day, ensuring that the plotted levels are current and relevant for daily trading decisions.
Pine Script® Indikator
von Jwuthri
3
US 30 Daily Breakout Strategy The US 30 Daily Breakout Strategy (Single Trade Per Breakout/Breakdown) is a trading approach for the US 30 (Dow Jones Industrial Average) that aims to capture breakout or breakdown moves based on the previous day’s high and low levels. The strategy includes mechanisms to take only one trade per breakout (or breakdown) each day and ensures that each trade is executed only when no other trade is open. Entry Conditions: Long Trade (Breakout): The strategy initiates a long position if the current candle closes above the previous day's high, indicating an upward breakout. Only one breakout trade can occur per day, regardless of whether the price remains above the previous high. Short Trade (Breakdown): The strategy initiates a short position if the current candle closes below the previous day's low, indicating a downward breakdown. Similarly, only one breakdown trade can occur per day. Risk Management: Take Profit and Stop Loss: Each trade has a take profit and stop loss of 50 points, aiming to cap profit and limit loss effectively for each position. Daily Reset Mechanism: At the start of each new day (based on New York time), the strategy resets its flags, allowing it to look for new breakout or breakdown trades. This reset ensures that only one trade can be taken per breakout or breakdown level each day. Execution Logic Flags for Trade Limitation: Flags (breakout_traded and breakdown_traded) are used to ensure only one breakout or breakdown trade is taken per day. These flags reset daily. Dynamic Plotting: The previous day’s high and low are plotted on the chart, providing a visual reference for potential breakout or breakdown levels. Overall Objective This strategy is designed to capture single-directional daily moves by identifying significant breakouts or breakdowns beyond the previous day’s range. The fixed profit and loss limits ensure the trades are managed with controlled risk, while the daily reset feature prevents overtrading and limits each trade opportunity to one breakout and one breakdown attempt per day.
Pine Script® Strategie
von yavanmahur
Gold scalper 1 min or 30 secThis Pine Script code for TradingView is designed to create a trading indicator titled "Gold scalper 1 min or 30 sec." The indicator is primarily used for scalping gold and is focused on short-term timeframes (1 minute or 30 seconds). ### Key Components of the Code: 1. **Inputs:** - **Resolution:** Users can set the timeframe for analysis (default is 240 minutes). - **SMA (Simple Moving Average):** Users can specify the period for the SMA used in the calculations. 2. **Daily Highs and Lows:** - The script calculates the previous day’s high (`yesterdayHigh`) and low (`yesterdayLow`) prices using the `request.security` function. 3. **SMA Calculation:** - An SMA is computed based on the closing prices of the selected timeframe. 4. **Breakout Conditions:** - The script detects breakouts using the SMA in relation to yesterday's high and low: - A breakout upwards occurs when the SMA crosses above the previous day's high. - A breakout downwards occurs when the SMA crosses below the previous day's low. 5. **RSI (Relative Strength Index) Calculations:** - Two RSI values are calculated to assess market momentum: - **Banker RSI:** Used for buy conditions. - **Hot Money RSI:** Used for sell conditions. - These include adjustable sensitivity factors and periods to customize the indicator’s sensitivity. 6. **Trade Direction Selection:** - Users can select whether to trade long, short, or both directions. 7. **Buy and Sell Signals:** - Buy conditions are set when the Retail Moving Average crosses the Banker Moving Average under certain conditions. - Sell conditions are marked when the Banker Moving Average crosses under the specified sell threshold. - These signals are visually represented on the chart with specific shapes (up arrows for buys and down arrows for sells). 8. **Alerts:** - Alerts are generated for buy and sell signals to notify users when certain conditions are met. 9. **Trend Visualization:** - The script visually indicates uptrends and downtrends on the chart by plotting colors based on the relationship between the current price, yesterday's high, and low. ### General Purpose: This indicator is designed to assist traders in identifying potential buying and selling opportunities in the gold market based on short-term price movements and momentum indicators, helping them capitalize on quick price fluctuations that are characteristic of scalping strategies.
Pine Script® Indikator
von GodeyeThelasthope
4
Stan Weinstein 30-week Moving AverageStan Weinstein's book 'Secrets for Profiting in Bull and Bear Markets' is without doubt one of the classics books traders read. Weinstein said that at any one point in time, a stock (or an index) will be in one of four market "stages": Stage 1 the Basing Area (also known as consolidation or accumulation phase) Stage 2 the Advancing Stage Stage 3 the Top Area (also known as the distribution phase), or Stage 4 the Declining Stage One of the concepts from the book that became classic is the definition of the four stages a stock can be in. These stages basically classify the different periods in the lifetime of a stock. An important thing to understand is that Weinstein uses weekly charts and identifies the current stage based on the direction on the 30 week moving average. This script plots the 30 week moving average and the 150 day moving average.
Pine Script® Indikator
von marcellagerwerf
6