PhiSmoother Moving Average Ribbon [ChartPrime]DSP FILTRATION PRIMER:
DSP (Digital Signal Processing) filtration plays a critical role with financial indication analysis, involving the application of digital filters to extract actionable insights from data. Its primary trading purpose is to distinguish and isolate relevant signals separate from market noise, allowing traders to enhance focus on underlying trends and patterns. By smoothing out price data, DSP filters aid with trend detection, facilitating the formulation of more effective trading techniques.
Additionally, DSP filtration can play an impactful role with detecting support and resistance levels within financial movements. By filtering out noise and emphasizing significant price movements, identifying key levels for entry and exit points become more apparent. Furthermore, DSP methods are instrumental in measuring market volatility, enabling traders to assess volatility levels with improved accuracy.
In summary, DSP filtration techniques are versatile tools for traders and analysts, enhancing decision-making processes in financial markets. By mitigating noise and highlighting relevant signals, DSP filtration improves the overall quality of trading analysis, ultimately leading to better conclusions for market participants.
APPLYING FIR FILTERS:
FIR (Finite Impulse Response) filters are indispensable tools in the realm of financial analysis, particularly for trend identification and characterization within market data. These filters effectively smooth out price fluctuations and noise, enabling traders to discern underlying trends with greater fidelity. By applying FIR filters to price data, robust trading strategies can be developed with grounded trend-following principles, enhancing their ability to capitalize on market movements.
Moreover, FIR filter applications extend into wide-ranging utility within various fields, one being vital for informed decision-making in analysis. These filters help identify critical price levels where assets may tend to stall or reverse direction, providing traders with valuable insights to aid with identification of optimal entry and exit points within their indicator arsenal. FIRs are undoubtedly a cornerstone to modern trading innovation.
Additionally, FIR filters aid in volatility measurement and analysis, allowing traders to gauge market volatility accurately and adjust their risk management approaches accordingly. By incorporating FIR filters into their analytical arsenal, traders can improve the quality of their decision-making processes and achieve better trading outcomes when contending with highly dynamic market conditions.
INTRODUCTORY DEBUT:
ChartPrime's " PhiSmoother Moving Average Ribbon " indicator aims to mark a significant advancement in technical analysis methodology by removing unwanted fluctuations and disturbances while minimizing phase disturbance and lag. This indicator introduces PhiSmoother, a powerful FIR filter in it's own right comparable to Ehlers' SuperSmoother.
PhiSmoother leverages a custom tailored FIR filter to smooth out price fluctuations by mitigating aliasing noise problematic to identification of underlying trends with accuracy. With adjustable parameters such as phase control, traders can fine-tune the indicator to suit their specific analytical needs, providing a flexible and customizable solution.
Mathemagically, PhiSmoother incorporates various color coding preferences, enabling traders to visualize trends more effectively on a volatile landscape. Whether utilizing progression, chameleon, or binary color schemes, you can more fluidly interpret market dynamics and make informed visual decisions regarding entry and exit points based on color-coded plotting.
The indicator's alert system further enhances its utility by providing notifications of specifically chosen filter crossings. Traders can customize alert modes and messages while ensuring they stay informed about potential opportunities aligned with their trading style.
Overall, the "PhiSmoother Moving Average Ribbon" visually stands out as a revolutionary mechanism for technical analysis, offering traders a comprehensive solution for trend identification, visualization, and alerting within financial markets to achieve advantageous outcomes.
NOTEWORTHY SETTINGS FEATURES:
Price Source Selection - The indicator offers flexibility in choosing the price source for analysis. Traders can select from multiple options.
Phase Control Parameter - One of the notable standout features of this indicator is the phase control parameter. Traders can fine-tune the phase or lag of the indicator to adapt it to different market conditions or timeframes. This feature enables optimization of the indicator's responsiveness to price movements and align it with their specific trading tactics.
Coloring Preferences - Another magical setting is the coloring features, one being "Chameleon Color Magic". Traders can customize the color scheme of the indicator based on their visual preferences or to improve interpretation. The indicator offers options such as progression, chameleon, or binary color schemes, all having versatility to dynamically visualize market trends and patterns. Two colors may be specifically chosen to reduce overlay indicator interference while also contrasting for your visual acuity.
Alert Controls - The indicator provides diverse alert controls to manage alerts for specific market events, depending on their trading preferences.
Alertable Crossings: Receive an alert based on selectable predefined crossovers between moving average neighbors
Customizable Alert Messages: Traders can personalize alert messages with preferred information details
Alert Frequency Control: The frequency of alerts is adjustable for maximum control of timely notifications
In den Scripts nach "one一季度财报" suchen
RSI over screener (any tickers)█ OVERVIEW
This screener allow you to watch up to 240 any tickers you need to check RSI overbought and oversold using multiple periods, including the percentage of RSIs of different periods being overbought/oversold, as well as the average between these multiple RSIs.
█ THANKS
LuxAlgo for his RSI over multi length
I made function for this RSI and screener based on it.
allanster for his amazing idea how to split multiple symbols at once using a CSV list of ticker IDs
█ HOW TO USE
- hide chart:
- add 6 copies of screener
- change list number at settings from 1 to 6
- add you tickers
Screener shows signals when RSI was overbought or oversold and become to 0, this signal you may use to enter position(check other market condition before enter).
At settings you cam change Prefics, Appendix and put you tickers.
limitations are:
- max 40 tickers for one list
- max 4096 characters for one list
- tickers list should be separated by comma and may contains one space after the comma
By default it shows almost all BINANCE USD-M USDT tickers
Also you can adjust table for your screen by changing width of columns at settings.
If you have any questions or suggestions write comment or message.
VWAP 8EMA Crossover Scalping IndicatorWhy?
Everybody, especially in Indian context, from 9:15 AM to 3:30 PM, wants to trade in BankNifty.
And even 15m is Too Big timeframe for The Great Indian Options buyers. Everyone knows how potentially BankNifty (& FinNifty on Tuesday and Sensex on Friday) can show dance within 15m.
So there always been an overarching longing among traders to have something in shorter timeframes. And this 5m timeframe, looks like a universally (sic) accepted Standard Timeframe for Indian Options traders.
So here is this.
What?
The time we are publishing this public indicator Indian market (Nifty) is in ATH at ~22200.
In any such super trending market it's always good to wait for a dip and then in suitable time, enter the trade in the direction of the larger trend. The reversal trading systems, in such a situation, proves to be ineffective.
Of course there are time when market is sideways and keeps on oscillating between +/2 standard deviation of the 20 SMA. In such a situation the reversal play works perfectly. But not so in such a trending market.
So the question comes up - after a dip what's the right point to enter.
Hence comes the importance of such a crossover based trading system.
In this indicator, it's a well-known technique (nothing originally from ours, it's taken from social media, exact one we forgot) to find out the 8EMA and VWAP crossover.
So we learned from social media, practice in our daily trading a bit, actuate it and now publishing it.
A few salient points
It does not make sense to jump into the trade just on the crossover (or crossunder).
So we added some more sugar to it, e.g. we check the color the candle. Also the next candle if crosses and closes above (or below) the breakout candle's high/low.
The polarity (color) of both the alert (breakout/breakdown) and confirmation candle to be same (green for crossover, red from crossunder).
Of course, it does provider BUY and SELL alerts separately.
These all we have found out doing backtesting and forward testing with 1/2 lots and saw this sort of approaches works.
Hence all of these are added to this script.
Nomenclature
Here green line is the 8EMA and the red line is the VWAP.
Also there is a black dotted line. That's 50 EMA. It's to show you the trend.
The recent trade is shown in the top right of the chart as green (for buy) or red (for sell) with SL and 1:1 target.
How to trade using this system?
This is roughly we have found the best possible use of this indicator.
Lets explain with a bullish BUY positive crossover (means 8EMA is crossing over the daily VWAP)
Keep timeframe as 5m
Check the direction/slope of the black dotted line (50 EMA). If it's upwards, only take bullish positions.
Open the chart which has the VWAP. (e.g. FinNifty spot or MidcapNifty spot does not have vwap). So in those cases Future is the way to go.
Wait for a breakout crossover and let the indicator gives a green, triangular UP arrow.
Draw a horizontal line to the close of that candle for next few (say 6 candles i.e. 30m) candles.
Wait for the price first to retest the 8EMA or even better the VWAP (or near to the 8EMA, VWAP)
Let the price moves and closes above the horizontal line drawn in the 4th step.
Take a bullish trade, keeping VWAP as the SL and 1:1 as the target.
Additionally, Options buyer can consult ADX also to see if the ADX is more than 25 and moving up for the bullish trade. (This has to be added seperately in the chart, it's not a part of the indicator).
Mention
The concept we have taken from some social media. Forget exactly where we heard this first time. We just coded it with some additional steps.
Statutory Disclaimer
There is no silver bullet / holy grail in trading. Nothing works 100% time. One has to be careful about the loss (s)he can bear in case of the trade goes against.
We, as the author of this script, is not responsible for any trading or position decision one is taken based on the outcome of this.
It is our sole discretion to change, add, delete the portion or withdraw the whole script without any prior notice or intimation.
In Indian Context: We are not SEBI registered.
VSA Volume Spread AnalysisVolume Spread Analysis with Trend Direction is an indicator designed to Identify trend based volume spread.
Volume
Spread
Trend
This is a very simple yet powerful to identify Trend and corresponding volume Breakout. Unlike other Volume Indicators this indicator detects Breakout along with trend direction. One can detect the Early breakout in volume using this indicator. The Buy or Sell Signal is based on zero crossing of the Histogram.
Trend direction is confirmed using the MA of the Histogram which is similar to the Volume MA on volume indicator. One can enter a trade using the indicator when Trend direction and histogram are in same direction. Entry is done when ever histogram crosses the Trend MA line.
Fake entries can be eliminated by changing the indicator to higher Timeframe.
Spread is determined using the difference in open and close of the candle
Volume change is determined using the ratio of change of volume to previous volume
EMA 10 is used to determine the Spread and multiplied by volume change so the
PRICE(ema10), Volume, Spread(close-open) are merged to one indicator.
Direction changes when ever difference of VSA is positive or negative.
Multi-Time AVWAP_BEARConcept
Collaboration Highlight:
This was a collaboration with @Chart_School and @KioseffTrading Thank you to both, along with Ricardo Santos for his awesome library we used.
Overview
See how you view different time frame charts with one indicator and little to no adjustment.
Innovation:
The concept of using Anchored VWAP (AVWAP) with time events is a powerful technique in trading and technical analysis. Anchored VWAP differs from the traditional Volume Weighted Average Price (VWAP) by allowing traders to select a specific starting point or "anchor," from which the VWAP calculation begins. This approach is particularly useful for assessing price movements in relation to significant market events or specific periods of interest.
Utility and Flexibility:
Explaining the flexibility in turning on and off different time slices without much adjustment showcases a user-friendly design.
Key Uses and Benefits
Comparative Performance:
Anchoring the VWAP at the start of different time frames (e.g., weekly, monthly, quarterly) enables traders to compare the current price performance against previous periods. This comparison can highlight trends or shifts in trading momentum relative to past activity.
Support and Resistance Levels:
AVWAP lines can act as dynamic support and resistance levels. When anchored to significant time events, these levels gain additional relevance as they reflect the market's valuation of an asset since a notable point in time. Traders often watch for price interactions with these levels to make informed trading decisions.
Risk Management:
Anchored VWAP can serve as a benchmark for setting stop-loss orders or profit targets. By considering the price's relation to the AVWAP of a specific period or after a key event, traders can define exit points that are aligned with market-generated information.
Trend Confirmation: The direction and stability of the price relative to an anchored VWAP can indicate the strength of a trend. If the price consistently remains above an AVWAP anchored at a bullish event (or below for a bearish event), it may confirm the trend's continuation.
Further Reading
Educational Resource:
Becuase we are using Volume with a relation to price AVWAP is very powerful to show data that cannot be eye balled on its own. Brian Shannon's book "Maximum Trading Gains With Anchored VWAP - The Perfect Combination of Price, Time & Volume", is an excellent guide to best practices on how to use AVWAP to your advatage while trading. His book goes into depth about the best way to use this indicator to its fullest potencial.
Tips for Using This Indicator
Weekly / Monthly / Quarterly Settings:
All the settings for the lower timeframe charts are similar. Here is an example of seeing a Weekly AVWAP for 6 weeks, showing:
1. The start of the 6-week AVWAP is using a High Low Close source for the first candle of the 6 weeks.
2. The lines are colored "Red" for the AVWAPs.
3. The line thickness is "1".
Yearly Settings
Simlair to the other settings with the Yearly we give you a couple more options along with 3 years to toggle on and off. The idea was to allow the user to see which AVWAP most effected by price and quickly toggle them on and off to unclutter their chart.
Watch for how and if the labels over lap and choose the one you feel is most in play. In Shannon's Book he talks about "Hand off's" and "Pinches". These concepts are easy to spot with being able to see all the Major Time Events, then simply toggle off the one you dont need.
A great benefit to how we coded this script you can buzz through a watch list without having to re-adjust the Anchor points. This will save you time if following a basket of symbols and show coorlations in the overall market.
Secret Feature
When looking at these becuase the user doesn't need to hand plot the anchor points and we are fouced on major time slices, I encourge you to use the Trading View "Bar Replay" Feature. You think that you are missing a high or low AVWAP but what is happening is the indicator is re-plotting a level that is super hard to see, then you will see the hand-offs like Shannon discusses in his book. This blew me away while we were discussing it post development.
Conclusion
There are so many uses of how to use VWAP and therories on its best practice. We are only using "TIME EVENTS". For more ways to use AVWAP, I would encourge you to also handplot them with Trading View's new "Anchored VWAP", as seen in the standard toolbar.
Using your ideas along with this indicator i think its a powerful combination.
Also Check Out: allanster's - Anchored VWAP Pinch & Handoff, Intervals, and Signals
He has a great AVWAP script that incorporates many AVWAP ideas.
Volatility System by W. WilderVolatility System (Volatility Stops) Similarity
Most traders adjust their stops over time in the direction of the trend in order to lock in profits. Apart from moving averages, one of the most popular techniques is trailing stops using a multiple of Average True Range. There are several variations:
The original Volatility System(Volatility Stops), introduced by Welles Wilder in his 1978 book: New Concepts in Technical Trading Systems
Chandelier exits introduced by Alexander Elder in Come Into My Trading Room (2002) trail the stops from Highs or Lows rather than Closing Price
Average True Range Trailing Stops are similar to the above, but include a ratchet mechanism to prevent stops moving down during an up-trend or rising during a down-trend, as ATR increases
WillTrend intoduced by Larry Williams in 1988
Comparison of systems
All the systems under consideration have one common ingredient - ATR. ATR was developed by Welles Wilder and described in his book in 1978, also in this book the Volatility System was described, which in the future became known as Volatility Stops.
In fact, Wilder is the father of such systems due to the presence of ATR in the calculation of this type of indicator.
The main difference of Volatility System
Followers such as Larry Williams and Alexander Elder made minor changes to the value based on the ATR, mainly focusing on changing the base to which this value is added or subtracted.
Larry Williams uses the square root of 5 as a multiplier and calculates the ATR with a period of 66, and Alexander Elder uses a multiplier of 2.5-3.5 applying it to the ATR with a period of 22. Both authors changed the original value for ATR and multiplier calculations. Alexander Elder is closest to the original Welles Wilder calculation, which used a multiplier of 2.8.-3.1 applying it to an ATR with a period of 7.
As a reference, Elder took the Highest High(22) from which he subtracts ATR*Multiplier in an uptrend or the Lowest Low(22) to which he adds ATR*Multiplier to obtain the turning point (SAR).
Larry Williams uses the average price of extremes (Highest High(10) + Lowest Low(10)) / 2 as a reference base to which he adds or subtracts the ATR*Multilpyer values.
Both systems differ from the original, because Wilder used Significan Close(SIC) in his calculations. SIC is the maximum closing price during an uptrend and the minimum closing price during a downtrend, which
does not go beyond the current trade, as in other systems. To calculate the base when a trend changes, bars that are outside the current trend will be used when calculating WillTrend and Chandelier Exit, in contrast to the Volatility System, which takes SIC values only within the current trade. This is the main difference from subsequent developments of similar systems.
Improvements made
The original Volatility System is present as an indicator on TradingView, but it is an improved version with the addition of a ratchet and works differently from the original Weilder system.
List of improvements:
Added the ability to remove the ratchet. You need to turn off the "Trail one way" checkbox in the setting menu. When this function is turned off, the system will operate in the author-inventor mode. On some instruments, the original system works much better than the improved ratchet system, which cannot be turned off.
Added the ability to use Highest High and Lowest Low as a base instead of the closing price.
Volatility Stops Formula Description
Welles Wilder's system uses Closing Price and incorporates a stop-and-reverse feature (as with his Parabolic SAR).
Determine the initial trend direction
Calculate the Significant Close ("SIC"): the highest close reached in an up-trend or the lowest close in a down-trend
Calculate Average True Range ("ATR") for the selected period (7 days in this example)
Multiply ATR by the Multiple (3.0 in this example, best values author describes as 2.8-3.1)
The first stop is calculated in day 7 and plotted for day 8
If an up-trend, the first stop is SIC - 3 * ATR, otherwise SIC + 3 * ATR for a down-trend
Repeat each day until price closes below the stop (or above in a down-trend)
Set SIC equal to the latest Close, reverse the trend and continue.
Chandelier Exit Description
Chandelier Exits subtract a multiple of Average True Range ("ATR") from the highest high for the selected period. Using the default settings as an example:
Highest High in last 22 days - 3 * ATR for 22 days
In a down-trend the formula is reversed:
Lowest Low in last 22 days + 3 * ATR for 22 days
The time period must be long enough to capture the highest point of the recent up-trend: too short and the stops move downward; too long and the high may be taken from a previous down-trend.
It is not essential to use the same period for up and down trends; down-trends are notoriously faster than up-trends and may benefit from a shorter time period.
The multiple of 3 may be varied, but most traders settle between 2.5 and 3.5.
WillTrend Description
Larry Williams is prefer to used the Square Root from 5 as a multiplayer for ATR. SQRT(5) = 2.236
WillTrend subtract a multiple of Average True Range ("ATR") from the Middle Price (Highest High for the selected period + Lowest Low for the selected period / 2).
(Highest High in last 10 days + Lowest Low in last 10 days) / 2 - 2.236 * ATR for 66 days
In a down-trend the formula is reversed:
(Highest High in last 10 days + Lowest Low in last 10 days) / 2 + 2.236 * ATR for 66 days
Multi-Timeframe Recursive Zigzag [Trendoscope®]🎲 Welcome to the Advanced World of Zigzag Analysis
Embark on a journey through the most comprehensive and feature-rich Zigzag implementation you’ll ever encounter. Our Multi-Timeframe Recursive Zigzag Indicator is not just another tool; it's a groundbreaking advancement in technical analysis.
🎯 Key Features
Multi Time-Frame Support - One of the rare open-source Zigzag indicators with robust multi-timeframe capabilities, this feature sets our tool apart, enabling a broader and more dynamic market analysis.
Innovative Recursive Zigzag Algorithm - At its core is our unique Recursive Zigzag Algorithm, a pioneering development that powers multiple Zigzag levels, offering an intricate view of market movements. This proprietary algorithm is the backbone of our advanced pattern recognition indicators.
Sub-Waves and Micro-Waves Analysis - Dive deeper into market trends with our Sub-Waves and Micro-Waves feature. Sub-Waves reveal the interconnectedness of various Zigzag levels, while Micro-Waves offer insight into the fundamental waves at the base level.
Enhanced Indicator Tracking - Integrate and track your custom indicators or oscillators with the zigzag, capturing their values at each Zigzag level, complete with retracement ratios. This offers a comprehensive view of market dynamics.
Curved Zigzag Visualization - Experience a new way of visualizing market movements with our Curved Zigzag Display, employing Pine Script’s polyline feature for a more intuitive and visually appealing representation.
Built-in Customizable Alerts - Stay ahead with built-in alerts that can be customized via user input settings.
🎯 Practical Applications
Our Zigzag Indicator is designed with an understanding of its inherent nature - the last unconfirmed pivot that consistently repaints. This characteristic, while by design, directs its usage more towards pattern recognition rather than direct identification of market tops and bottoms. Here's how you can leverage the Zigzag Indicator:
Harmonic Patterns - Ideal for those familiar with harmonic patterns, this tool simplifies the manual spotting of complex XABCD, ABC, and ABCD patterns on charts.
Chart Patterns - Effortlessly identify patterns like Double/Triple Taps, Head and Shoulders, Inverse Head and Shoulders, and Cup and Handle patterns with enhanced clarity. Navigate through challenging patterns such as Triangles, Wedges, Flags, and Price Channels, where the Zigzag Indicator adds a layer of precision to your breakout strategy.
Elliott Wave Components - The indicator's detailed pivot highlighting aids in identifying key Elliott Wave components, enhancing your wave analysis and decision-making process.
🎲 Deep Dive into Indicator Features
Join us as we explore the intricate features of our indicator in more detail.
🎯 Multi-Timeframe Capability
Our indicator comes equipped with an input option for selecting the desired resolution. This unique feature allows users to view higher timeframe Zigzag patterns directly on their lower timeframe charts.
🎯 Recursive Multi Level Zigzag
Our advanced recursive approach creates multi-level Zigzags from lower-level data. For instance, the level 0 Zigzag forms the base, calculated from specified length and depth parameters, while level 1 Zigzag is derived using level 0 as its foundation, and so forth.
The indicator not only displays multiple Zigzag levels but also offers settings to emphasize specific levels for more detailed analysis.
🎯 Sub-Components and Micro-Components of Zigzag Wave
Sub-components within a Zigzag wave consist of the previous level's Zigzag pivots. Meanwhile, the micro-components are composed of the base level (Level 0) Zigzag pivots encapsulated within the wave.
🎯 Curved Zigzag
Experience a new perspective with our curved Zigzag display. This innovative feature utilizes the polyline curved option to automatically generate sinusoidal waves based on multiple points.
🎯 Indicator Tracking
Default indicators such as RSI, MFI, and OBV are included, alongside the ability to track one external indicator at each Zigzag pivot.
🎯 Customizable Alerts
Our indicator employs the `alert()` function for alert creation. While this means the absence of a customization text box in the alert settings, we've included a custom text area for users to create their own alert templates.
Template placeholders include:
{alertType} - type of alert. Either Confirmed Pivot Update or Last Pivot Update. Depends on the alert type selected in the inputs.
When Last Pivot Update type is selected, the alerts are triggered whenever there is a new Zigzag Pivot. This may also be a repaint of last unconfirmed pivot.
When Confirmed Pivot Update type is selected, the alerts are triggered only when a pivot becomes a confirmed pivot.
{level} - Zigzag level on which the alert is triggered.
{pivot} - Details of the last pivot or confirmed pivot including price, ratio, indicator values and ratios, subcomponent and micro-component pivots.
🎲 User Settings Overview
🎯 Zigzag and Generic Settings
This involves some generic zigzag calculation settings such as length, depth, and timeframe. And few display options such as theme, Highlight Level and Curved Zigzag. By default, zigzag calculation is done based on the latest real time bar. An option is provided to disable this and use only confirmed bars for the calculation.
Indicator Settings
Allows users to track one or more oscillators or volume indicators. Option to add any indicator via external input is provided.
🎯 Alert Settings
Has input fields required to select and customize alerts.
Stock WatchOverview
Watch list are very common in trading, but most of them simply provide the means of tracking a list of symbols and their current price. Then, you click through the list and perform some additional analysis individually from a chart setup. What this indicator is designed to do is provide a watch list that employs a high/low price range analysis in a table view across multiple time ranges for a much faster analysis of the symbols you are watching.
Discussion
The concept of this Stock Watch indicator is best understood when you think in terms of a 52 Week Range indication on many financial web sites. Taken a given symbol, what is the high and the low over a 52 week range and then determine where current price is within that range from a percentage perspective between 0% and 100%.
With this concept in mind, let's see how this Stock Watch indicator is meant to benefit.
There are four different H/L ranges relative to the chart's setting and a Scope property. Let's use a three month (3M) chart as our example and set the indicator's Scope = 4. A 3M chart provides three months of data in a single candle, now when we set the Scope = 4 we are stating that 1X is going to look over four candles for the high/low range.
The Scope property is used to determine how many candles it is to scan to determine the high/low range for the corresponding 1X, 3X, 5X and 10X periods. This is how different time ranges are put into perspective. Using a 3M chart with Scope = 4 would represent the following time windows:
- 1X = 3M * 4 is a 12 Months or 1 Year High/Low Range
- 3X = 3M * 4 * 3 is a 36 Months or 3 Years High/Low Range
- 5X = 3M * 4 * 5 is a 60 Months or 5 Years High/Low Range
- 10X = 3M * 4 * 10 is a 120 Months or 10 Years High/Low Range.
With these calculations, the indicator then determines where current price is within each of these High/Low ranges from a percentage perspective between 0% and 100%.
Once the 0% to 100% value is calculated, it then will shade the value according to a color gradient from red to green (or any other two colors you set the indictor to). This color shading really helps to interpret current price quickly.
The greater power to this range and color shading comes when you are able to see where price is according to price history across the multiple time windows. In this example, there is quick analysis across 1 Year, 3 Year, 5 Year and 10 Year windows.
Now let's further improve this quick analysis over 15 different stocks for which the indicator allows you to watch up to at any one time.
For value traders this is huge, because we're always looking for the bargains and we wait for price to be in the value range. Using this indicator helps to instantly see if price has entered a value range before we decide to do further analysis with other charting and fundamental tools.
The Code
The heart of all this is really very simple as you can see in the following code snippet. We're simply looking for the highest high and lowest low across the different scopes and calculating the percentage of the range where current price is for each symbol being watched.
scope = baseScope
watch1X = math.round(((watchClose - ta.lowest(watchLow, scope)) / (ta.highest(watchHigh, scope) - ta.lowest(watchLow, scope))) * 100, 0)
table.cell(tblWatch, columnId, 2, str.format("{0, number, #}%", watch1X), text_size = size.small, text_color = colorText, bgcolor = getBackColor(watch1X))
//3X Lookback
scope := baseScope * 3
watch3X = math.round(((watchClose - ta.lowest(watchLow, scope)) / (ta.highest(watchHigh, scope) - ta.lowest(watchLow, scope))) * 100, 0)
table.cell(tblWatch, columnId, 3, str.format("{0, number, #}%", watch3X), text_size = size.small, text_color = colorText, bgcolor = getBackColor(watch3X))
Conclusion
The example I've laid out here are for large time windows, because I'm a long term investor. However, keep in mind that this can work on any chart setting, you just need to remember that your chart's time period and scope work together to determine what 1X, 3X, 5X and 10X represent.
Let me try and give you one last scenario on this. Consider your chart is set for a 60 minute chart, meaning each candle represents 60 minutes of time and you set the Stock Watch indicator to a scope = 4. These settings would now represent the following and you would be watching up to 15 different stocks across these windows at one time.
1X = 60 minutes * 4 is 240 minutes or 4 hours of time.
3X = 60 minutes * 4 * 3 = 720 minutes or 12 hours of time.
5X = 60 minutes * 4 * 5 = 1200 minutes or 20 hours of time.
10X = 60 minutes * 4 * 10 = 2400 minutes or 40 hours of time.
I hope you find value in my contribution to the cause of trading, and if you have any comments or critiques, I would love to here from you in the comments.
Measured MoveThis indicator was made for those who look to profit on “Measured Moves.”
Upon opening the settings one will need to set the time to begin (Start Time in settings) the colored background of the potential move areas, and the high (First Price Level in settings) and low (Second Price Level in settings) prices for the measured area for the measured move.
After those are selected they can be easily moved on the chart. I created a table for the user to tap with the pointer to highlight the setting lines for easy adjustment.
Measured moves are used by some algo’s and some traders to determine the take profit levels. They are moves from a particular pattern conclusion to a distance equal to that distance in the desired direction.
This is an image of the measured move which occurred on Dec 13th, 2023 at about 1pm on the ES 1m chart:
The center area in lightly shaded blue is the measured area. The green and red would be the same distance and would equate to the measured move distance.
This example shows the same day – the second move up was a measured move by some traders:
www.tradingview.com
Again, the same day on the way down. This one didn’t quite complete the move:
Again, same day on the way back up – almost perfect:
And, finally, the same day for the last move up:
This indicator will require the user to know what to look for in creating the measured movement. The script is quite simple – but, can be effective in assisting a user to know potential profit targets.
I conducted several searches for “measured move” and found no other indicators that provide this functionality. I understand that one could use fibs to do the same thing – but, I didn’t want to have to alter the fib settings (which I use for actual fibs) to perform this functionality.
Please comment with any questions/suggestions/etc.
Advanced Technical Range and Expectancy Estimator [SS]Hello everyone,
This indicator is a from of momentum based probability modelling. It is derived from my own approaches to probability modelling but just simplified a bit.
How it works:
The indicator looks at various technical, including stochastics, RSI, MFI and Z-Score, to determine the likely sentiment. All of these, with the exception of Z-Score, are momentum based indicators and can alert us to likely sentiment. However, instead of us making the subjective determination ourselves as to whether the RSI or MFI or Stochastics are bullish, the indicator will look at previous instances of these occurrences, and tally the bullish and bearish follow throughs that happened. It will also calculate the average target price that was hit, under similar conditions, on the same timeframe.
The Z-Score is your "tie breaker". It is not a momentum based indicator and measures something a little different (the standard deviation and over-extension of the stock). For this reason, it provides an alternative assessment and tends to be a bit more reliable in times of low momentum.
Back-test Results:
The indicator back-tests itself over the previous 100 candles. I have limited it to 100 candles for pragmatic considerations (it has to back-test each technical individually and increasing the BT length will slow and potentially error out the indicator) as well as accuracy considerations.
One thing I have noticed in my years of trying to crack the code and develop probability models for tickers, is historical accuracy doesn't always matter because sentiment is always changing. You need to see what it has done over the most recent 100 to 200 candles.
There are two back-test windows, one for the price targets and the other for the sentiment accuracy. The most effective/most accurate will highlight green, the least effective/least accurate will highlight red:
In the image above, you can see that the most accurate predictor of sentiment is Z-Score, with a 90.32% accuracy rate over the past 100 candles.
The most accurate predictor of price is MFI, with a 60% (for bull targets) and 42% (for bear targets)accuracy rate.
Anchoring Points:
The indicator permits you to anchor by two points. The default setting is anchoring by previous candle. If you plan to use this as an oscillator, to see the current prediction for the current candle you are viewing, then you will need to leave this default setting. It will pull the data from the previous candle and give you the data for the current candle you are on.
If you are assess the likely sentiment for the next day after the day has closed off, you will want to anchor by current candle. This will take the current technicals that the day has closed off with and run the assessment for you.
Customizability
You can customize the technicals by source and length of assessment.
They are all defaulted to the traditional settings of these indicators, but if you want to customize your model to try and improve or enhance accuracy in one way or another, you are free and able to do so!
I do suggest leaving the defaults as they seem to work particular well :-).
Thresholds
Thresholds are the tolerance levels that we permit for our technical search range. If you want them to be exactly identical, then you can set it to 0. If you want it to be extremely similar, you can set it to 0.01. This will hone in on the ranges you are interest in and you can see how it affects your accuracy by reviewing the results in the back-test tables.
Keep Static Colour Option
I want to make a quick note on the "Keep Static Colour" option that is in your settings menu.
The primary table that shows you the probability and price targets change colours based on the accuracy of the assessment. This is so, if you are using a mobile device or smaller screen and can't have the back-test results open at the same time, you can see still which are the most reliable results. However, if you have the back-test tables open and you find these colour changes too distracted, you can toggle on the "Keep Static Colour" and it will resort the colour of the table to a solid white:
Show Technicals
The indicator can show you the current technical values if you are using it in place of an oscillator. Its less pivotal as its making the assessment for you, but just for your reference if you want to see what the current MFI, Z-Score or Stochastics etc. are, you have that option as well.
All Timeframes Permitted
You can view Weekly, Monthly, Hourly, 5 minute, 1 minute, its all supported!
That's the indicator in a nutshell.
Hope you enjoy and leave your questions below.
Safe trades everyone!
Opening Range & Prior Day High/Low [Gorb]Introduction:
Opening Range & Prior Day High/Low indicator is an easy to use day traders tool. This indicator automatically plots the previous days high and low, as well as drawing a box from the opening range that the user specifies in the settings. These two together can help provide an indication of market sentiment and price trends for the day. They are often used as a trading strategy for day traders.
Overview:
The Opening Range , draws a box from the high to the low of the user defined time period and is extended until the end of the trading session. Most common are the 5/15/30min opening ranges.
Prior Day High/Low , draws lines from the previous days high and low that extend across the current session. These are used as support/resistance and also a marker to see market sentiment by crossing one of these levels.
The indicator is designed for all kinds of traders, offering a simple approach to automatically plot levels for you.
Features:
All skill-level friendly presets, easy to enable with one-click
Opening Range: Allows user to choose what time the range starts and ends to measure the high & low.
Extend Range Lines: allows the user to choose when the box stops extending according to the trading session time.
Enable Opening Range Box: allows the user to choose to plot the opening range or not.
ORB Border Color: allows the user to change the box border color.
ORB Box Shade Color: allows the user to change the background of the opening range box.
ORB Line Width: allows users to chose the width of the opening range box lines.
Enable Previous Day High: allows users to enable the previous days high to be plotted.
Enable Previous Day Low: allows users to enable the previous days high to be plotted.
Previous Day High Color: allows users to choose the color for this line.
Previous Day Low Color: allows users to choose the color for this line.
All colors are changeable for the user to customize to their liking.
Usage Demonstration
In the image below, we can see a basic example of how these 3 features function.
As explained above, the opening range is customizable to meet the users needs and can be disabled with one click. Same goes for the prior day high(green) and low(red) lines. All 3 are plotted each day automatically for the user if enabled.
In the image below, we can see an example of using the opening range break and prior day high together for a trading strategy.
This is a great example of using the prior day high with the opening range to use as a day trading strategy. It provides the trader with levels to watch for price to break out from for possible trade setups.
In this next image, we can see a failed breakdown from the opening range that results in a bullish breakout.
The first move was a fake breakdown with the failed rejection on the retest of the opening range lows. This led to a breakout above the range and a confirmation bounce on the breakout retest. Price did break above the prior day high and confirmed with a retest bounce on that level as well.
In the image below, we can see how previous days levels can act as resistance to use with the opening range.
Price didn't reject the opening range low, but it did reject the prior day high for the second time. This could be used as an entry or once price breaks down out of the opening range again.
Conclusion:
We believe in providing user-friendly tools to help speed up traders technical analysis and implement easy trading strategies. The goal is to provide a user-friendly indicator to automatically draw opening ranges and previous days levels to suit the users needs and trading style.
RISK DISCLAIMER
All content, tools, scripts & education provided by Monstanzer or Gorb Algo LLC are for informational & educational purposes only. Trading is risk and most lose their money, past performance does not guarantee future results.
Blockunity Stablecoin Liquidity (BSL)Monitor the liquidity of the crypto market by tracking the capitalizations of the major Stablecoins.
Stablecoin Liquidity (BSL) is an ideal tool for visualizing data on major Stablecoins. The number of Stablecoins in circulation is one of the best indices of liquidity within the crypto market. It’s an important metric to keep an eye on, as an increase in the number of Stablecoins in circulation offers a great opportunity to see cryptoasset prices rise. The tool’s multiple on-board display modes enable analysis of its data in the best possible conditions.
The Idea
The goal is to provide the community with the ideal tool to visualize the liquidity of the crypto market, via the state of the market capitalizations of the major Stablecoins.
How to Use
The tool is very easy to use and interpret. First of all, let's distinguish two main elements:
The chart as 3 distinct display modes to let you observe data in the best possible conditions.
There is a panel that summarizes the market capitalizations of the main Stablecoins.
Display Mode: Cumulative
In Cumulative mode (default), the different capitalizations are displayed one on top of the other with colored bands.
You can see that when the number of Stablecoins in circulation increases, crypto asset prices enter an uptrend. And if the liquidity of Stablecoins dries up, the trend will become bearish.
Display Mode: Aggregated
Aggregated mode displays a single line, which is the sum of the different capitalizations, varying between green and red depending on the state of this data according to its moving average declared in the 'Aggregated MA Lengh' field.
You can thus easily see trend changes and therefore opportunities to enter or exit the crypto market.
Display Mode: Independent
The Independent mode also displays the different capitalizations, but detached from each other with labels.
This display mode is particularly interesting for studying transfers from one Stablecoin to another, as can be seen below.
Other Settings
You can choose whether or not to include each of the Stablecoins data, and configure their display color. Note that in 'Cumulative' display mode, the data is taken into account even if the box is unchecked.
How it Works
The tool works in a simple way: We take the market capitalization data of the Stablecoins that interest us, then we process them according to the different display modes.
Let us know if you would like other ways of visualizing this data!
Williams Vix Fix [CC]The Vix Fix indicator was created by Larry Williams and is one of my giant backlog of unpublished scripts which I'm going to start publishing more of. This indicator is a great synthetic version of the classic Volatility Index and can be useful in combination with other indicators to determine when to enter or exit a trade due to the current volatility. The indicator creates this synthetic version of the Volatility Index by a fairly simple formula that subtracts the current low from the highest close over the last 22 days and then divides that result by the same highest close and multiplies by 100 to turn it into a percentage. The 22-day length is used by default since there is a max of 22 trading days in a month but this formula works well for any other timeframe. By itself, this indicator doesn't generate buy or sell signals but generally speaking, you will want to enter or exit a trade when the Vix fix indicator amount spikes and you get an entry or exit signal from another indicator of your choice. Keep in mind that the colors I'm using for this indicator are only a general idea of when volatility is high enough to enter or exit a trade so green colors mean higher volatility and red colors mean low volatility. This is one of the few indicators I have written that don't recommend to buy or sell when the colors change.
This was a custom request from one of my followers so please let me know if you guys have any other script requests you want to see!
Scale Ability [TrendX_]Scale Ability indicator can indicate a company’s potential for future growth and profitability.
A scalable company is one that can increase its revenue and market share without increasing its costs proportionally, which can benefit from economies of scale. Therefore, the high-scale ability can generate more value for its shareholders - which is important for investment decisions.
Scale Ability indicator consists of 3 financial components:
Cash Flow from Investing Activities to Total Assets Ratio (CFIA / TA)
Net Income to Total Debt Ratio (NI / TD)
Earnings Before Interest, Taxes, Depreciation and Amortization to Equity Ratio (EBITDA / E)
These measures can help investors assess how efficiently and effectively a company uses its resources to generate revenue and profit.
Note:
This can be customizable between Fiscal Quarter (FQ) and Fiscal Year (Fy)
This is suitable for companies in fast-growing industries.
FUNCTION
CFIA / TA Ratio
A company with a net income to total debt of 9% could indicate that it is investing in its assets to keep up with the market demand and the technological changes which can create competitive advantages.
NI/ TD Ratio
A company with a net income to total debt of 9% could show that it is profitable and has a strong financial position, which can easily cover its debt payments.
EBITDA / E Ratio
A company with a net income to total debt of 14% illustrates that it is generating a high return on its equity.
USAGE
Scale index division:
> 43 : Excellent
32 - 43 : Good
12 - 31 : Above Average
= 11 : Average
8 - 10 : Below Average
5 - 7 : Poor
< 4 : Very Poor
DISCLAIMER
This is only a rough estimate, and the actual ratio may differ significantly depending on the stage of the business cycle and the company’s strategy, and the comparison of each company and its peers.
This indicator is not financial advice, it can only help traders make better decisions. There are many factors and uncertainties that can affect the outcome of any endeavor, and no one can guarantee or predict with certainty what will occur.
Therefore, one should always exercise caution and judgment when making decisions based on past performance.
COSTAR [SS]This idea came to me after I wrote the post about Co-Integration and pair trading. I wondered if you could use pair trading principles as a way to determine overbought and oversold conditions in a more neutral way than RSI or Stochastics.
The results were promising and this indicator resulted :-)!
About:
COSTAR provides another, more neutral way to determine whether an equity is overbought or oversold.
Instead of relying on the traditional oscillator based ways, such as using RSI, Stochastics and MFI, which can be somewhat biased and narrow sided, COSTAR attempts to take a neutral, unbiased approached to determine overbought and oversold conditions. It does this through using a co-integrated partner, or "pair" that is closely linked to the underlying equity and succeeds on both having a high correlation and a high t-statistic on the ADF test. It then references this underlying, co-integrated partner as the "benchmark" for the co-integration relationship.
How this succeeds as being "unbiased" and "neutral" is because it is responsive to underlying drivers. If there is a market catalyst or just general bullish or bearish momentum in the market, the indicator will be referencing the integrated relationship between the two pairs and referencing that as a baseline. If there is a sustained rally on the integrated partner of the underlying ticker that is holding, but the other ticker is lagging, it will indicate that the other ticker is likely to be under-valued and thus "oversold" because it is underperforming its benchmark partner.
This is in contrast to traditional approaches to determining overbought and oversold conditions, which rely completely on a single ticker, with no external reference to other tickers and no control over whether the move could potentially be a fundamental move based on an industry or sector, or whether it is a fluke or a squeeze.
The control for this giving "false" signals comes from its extent of modelling and assessment of the degree of integration of the relationship. The parameters are set by default to assess over a 1 year period, both the correlation and the integration. Anything that passes this degree of integration is likely to have a solid, co-integrated state and not likely to be a "fluke". Thus, the reliability of the assessment is augmented by the degree of statistical significance found within the relationship. The indicator is not going to prompt you to rely on a relationship that is statistically weak, and will warn you of such.
The indicator will show you all the information you require regarding the relationship and whether it is reliable or not, so you do not need to worry!
How to Use
The first step to use COSTAR is identifying which ticker has a strong relationship with the current ticker. In the main chart, you will see that SPY is overlaid with VIX. There is a strong, negative correlation between the VIX and SPY. When VIX is entered as the paired ticker, the indicator returns the data as stationary, indicating a compatible match.
Now you have 3 ways of viewing this relationship, 2 of which are going to be directly applicable to trading.
You can view them as
Price to Price Ratio (Not very useful for trading, but if you are curious)
Z-Score: Helpful for trading
Co-integration: Helpful for trading
Here is an example of all three:
Example of Z-Score Chart:
Example of Price Ratio:
Example of Co-Integration Pair:
Using for Trading
As stated above, the two best ways to use this for trading is to either use the Z-Score Chart or the Co-Integrated Pair chart.
The Z-Score chart is based off of the price ratio data and provides an assessment of both the independent and dependent data.
The co-integration shows the dependent (the ticker you are trading) in yellow and the independent (the ticker you are referencing) in teal. When teal is above yellow, you will see it is green. This means, based on your benchmark pair, there is still more up room and the ticker you are trading is actually lagging behind.
When the yellow crosses up, it will turn red. This means that your ticker is out-performing the benchmark pair and you likely will see pullback and a "regression to the mean" through re-integration.
The indicator is capable of plotting out entries and exits, which are guided by the z-score:
How Effective is it?
I created a basic strategy in Pinescript, and the back-test results vary. Trading ES1! using NQ1! as the co-integrated pair, results were around 78% effective.
With VIX, results were around 50% effective, but with a net profit.
Generally, the efficacy surpassed that of both stochastics and RSI.
I will be releasing the strategy version of this in the coming days, still just cleaning up that code and making it more "public use" friendly.
Other Applications
If you are a pair trader, you can technically use this for pair trading as well. That's essentially all this is doing :-).
Tips
If you are trading a ticker such as MSFT, AMD, KO etc., it's best to try to find an ETF or index that has that particular ticker as a large holding and use that as your benchmark. You will see on the indicator whether there is a high correlation and whether the data is indeed stationary.
If the indicator returns "Non-stationary", you can attempt to extend your regression range from 252 to 500. If this fixes the issue, ensure that the correlation is still >= 0.5 or <= -0.5. If this does not work still, you will need to find another pair, as its likely the result of incompatibility and an insignificant relationship.
To help you identify tickers with strong relationships, consider using a correlation heatmap indicator. I have one available and I think there are a couple of other similar ish ones out there. You want to make sure the relationship is stable over time (a correlation of >= 0.50 or <= -0.5 over the past 252 to 500 days).
IMPORTANT: The long and short exits delete the signal after one is signaled. Therefore, when you look back in the chart you will notice there are no signals to exit long or short. That is because they signal as they happen. This is to keep the chart clean.
'Tis all my friends!
Hope you enjoy and let me know your questions and suggestions below!
Side note:
COSTAR stands for Co-integration Statistical Analysis and Regression. ;)
Anticipated Profit Targets (APT)Anticipated Profit Targets (APT)
Purpose:
The Anticipated Profit Targets script is a specialized tool designed to assist traders in visualizing potential exit points for their trades. This is achieved by leveraging the Average True Range (ATR), a renowned measure of market volatility.
How It Works:
ATR Computations: At its core, the script calculates the ATR based on a user-defined number of periods. The ATR captures the range between the high and low prices of an asset over a specific duration, providing a snapshot of its volatility.
Multiplier Application: To fine-tune the profit targets, the ATR is multiplied by a user-defined multiplier. This step adjusts the ATR value, setting the profit targets at a distance from the current price, thus accounting for potential price movements.
Adaptable Timeframes: One of the standout features of this script is its adaptability. Users can select their desired timeframe for the profit target calculations. This flexibility means that a trader can be on a 15-minute chart but visualize profit targets based on the volatility of a 1-hour chart.
Visual Representation: The calculated profit targets are then overlaid onto the current chart. This visual aid provides traders with a clear perspective of potential exit points in relation to ongoing price movements.
Originality and Usefulness:
While the concept of using ATR for setting profit targets isn't new, this script's adaptability across timeframes and its user-centric customization options make it a unique offering. The combination of ATR with dynamic multipliers and timeframe adaptability ensures that traders get a tool tailored to their specific needs, rather than a one-size-fits-all solution.
Usage Guidelines:
After adding the script to the chart, traders can adjust the input parameters to their preferences. The anticipated profit targets will then be displayed, offering potential exit points. It's recommended to use these targets in conjunction with other technical indicators and chart patterns for a holistic trading strategy.
Features:
ATR Periods: The ATR is calculated using a user-defined number of periods. By default, it's set to 14 periods, a standard setting. The ATR gauges the asset's volatility, and adjusting the periods can increase or decrease its sensitivity to recent price fluctuations.
ATR Multiplier: The ATR is multiplied by a user-defined factor to determine the profit targets. With a default multiplier of 1.5, the profit target will be positioned 1.5 times the ATR above (for bullish trades) or below (for bearish trades) the current price.
Target Timeframe: Traders can choose the timeframe for which the profit targets are calculated. This feature enables viewing of profit targets from higher timeframes on the current chart. For instance, while observing a 15-minute chart, one can see the 1-hour profit targets.
Visual Indicators:
1. Two lines are plotted: the bullish target (in green) and the bearish target (in red).
2. At the onset of each new candle in the selected higher timeframe, labels indicating the precise profit target values are displayed.
3. Price scale labels also showcase the profit targets, offering a quick reference for potential exit points.
Customization:
Traders can modify the following parameters:
1. ATR Periods: Adjusting the number of periods can refine the ATR's sensitivity to price changes.
2. Multiplier for ATR: Tweaking this value alters the distance between the profit targets and the current price.
3. Timeframe for Profit Targets: A variety of timeframes are available, granting flexibility in viewing profit targets.
How to Use:
After integrating the script into their chart, traders can modify the input parameters as desired. The anticipated profit targets will then be overlaid on the chart, offering potential exit points. When used alongside other technical indicators and chart patterns, this tool can enhance trading decision-making.
Note: This script is designed for educational purposes and should not be considered as financial advice. Always conduct your own research and consult with a financial advisor before making any trading decisions.
Trend Pinbar PT49 by CuancuanIdea Behind:
Buying the short-term trend that shows a pin-bar candlestick pattern. Meant to be traded on a daily chart / higher timeframe.
To determine the short-term trend we use short EMA such as 8-16-30 and check the slope of each one, and definitely, the shorter one must be above the longer one for an uptrend. Vice versa for a downtrend.
To determine a pin-bar candlestick, I calculate that the body size (open to close) is at maximum a-third of the candle size (high to low). Besides that, I ensure that the close of the candle is above the shortest MA for bullish and below it for bearish.
As extra filters to reduce trade numbers:
1. Longer MA Filter = You can turn it off if you think the higher timeframe filter is unnecessary.
2. Slope Filter = To ensure the slope of the shorter MA is steeper rather than the mid-MA.
3. Size Filter = To check whether the overall candle size (high to low) is bigger than the ATR number. When the size filter is turned on, it removes small insignificant candles.
PS: Don't trade anything live unless you find it comfortable after backtesting it by yourself .
Sequence Volume BarsThis script in TradingView is designed to identify sequences of bars with increasing volume. It creates two indicators: one for bullish trends (green sequence) and another for bearish trends (red sequence).
Green Sequence: The script considers a green sequence when the current closing price is higher than the previous one, and the volume is increasing. When the green sequence approaches a user-defined length, it highlights it on the chart with a green triangle below the bar.
Red Sequence: Similarly, the script looks for a bearish sequence when the current closing price is lower than the previous one, and the volume is increasing. When the red sequence approaches the specified length, it highlights it with a red triangle above the bar.
Both indicators can also send alerts when their respective sequences reach the specified length minus one. This script can be useful for traders seeking entry points based on specific volume patterns in the market.
P.S. I'm not sure how this can be useful to you, but sometimes a pump and dump can be predicted. Maybe you'll come up with ideas on how to refine this concept.
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Этот скрипт для TradingView предназначен для выявления последовательностей баров с ростом объема. Он создает два индикатора: один для бычьих трендов (зеленая последовательность) и другой для медвежьих трендов (красная последовательность).
Зеленая последовательность: Скрипт считает, что происходит зеленая последовательность, если текущая цена закрытия выше предыдущей, а объем увеличивается. Когда зеленая последовательность по длине приближается к заданной пользователем, он выделяет это на графике зеленым треугольником под баром.
Красная последовательность: Аналогично скрипт ищет медвежью последовательность, когда текущая цена закрытия ниже предыдущей, а объем растет. Когда красная последовательность приближается к указанной длине, он выделяет это красным треугольником над баром.
Оба индикатора могут также отправлять предупреждения, когда соответствующая последовательность достигает заданной длины минус один. Этот скрипт может быть полезен для трейдеров, ищущих входные точки, основанные на определенных шаблонах объема в рынке.
Не знаю как вам может это пригодиться, но иногда предсказывается пам и дамп. Может у Вас появится идея как доработать эту идею
Donchian MA Bands [LuxAlgo]The Donchian MA Bands script is a complete trend indicator derived from the popular Donchian channel indicator as well as various customizable moving averages to estimate trend direction and build support/resistance levels & zones.
🔶 USAGE
The indicator outputs various elements, the main ones being a lower dynamic zone (blue by default), an upper dynamic zone (in orange by default), and one support and resistance level/zones (red/green by default).
A prominent lower zone is indicative of an uptrend, while a prominent upper zone is indicative of a downtrend. These zones can be used as support/resistance as well.
Support/resistance zones and levels can be used using a breakout methodology or to determine price bounced if a level was tested multiple times.
The indicator contains various modes affecting the output of the indicator, described below.
🔹 Clouds
Clouds return one upper/lower dynamic zone and look/act similarly to a trailing stop. Price over the lower zone is indicative of an uptrend, and price under the upper zone is indicative of a downtrend.
🔹 Upper Band
The upper band mode returns a dynamic zone closer to prices during an uptrend, and farther away during a downtrend.
This band can act as a support during uptrends.
🔹 Lower Band
The lower band mode returns a dynamic zone closer to prices during an uptrend, and farther away during a downtrend.
This band can act as a resistance during downtrends.
🔹 Bands
Bands return both upper and lower zones, the zones are more apparent depending on the price trend direction, with uptrends being indicated by a more visible lower zone, and downtrends being indicated by a more visible upper zone.
Breakout dots are highlighted when price breakout the indicator displayed extremities, and can be indicative of a confirmed trend reversal.
These breakouts can be more effective for trend following during trending markets. Ranging markets might return breakouts highlighting the top/bottom.
🔶 DETAILS
The core of this script is the highest / lowest mean average (MA) value for a given number of bars back ( Donchian lines).
This is repeated a few times with the obtained values.
When Bands are chosen ( Style ) this will be repeated 1 more time.
The type of mean average can be customized ( Type MA ), as well as the number of bars back ( Length ).
Depending on the choice of bands ( Style ) the script will focus on certain area's of interest.
When the option Clouds , Upper band or Lower band is chosen, an extra feature, support/resistance (S/R), will be shown.
These color-filled areas are visible when there is a difference between the 2nd and 3rd highest/lowest values.
The lines/areas can be used for stop loss, entry, exit,...
You can set the type of MA and Length separately ( Settings -> S/R ).
If you don't need this feature, simply set Type ( Settings -> S/R ) -> NONE
The shape sometimes resembles triangles, indicating a potential direction
Default the average of the highest and lowest values is plotted (Style -> Mid Donchian)
This can act as potential support/resistance or visualization of the trend, the mean average is not plotted but can be (Style -> MA)
🔹 Note
When the option Bands is chosen, an indication is plotted when the closing price breaks above the highest band or breaks below the lower band. This isn't necessarily a buy/sell signal, it is merely a signal that these lines are broken.
Users should decide on their own how they use the bands/lines/areas as entry, exit, trailing stop, stop loss, profit taking,...
🔶 SETTINGS
🔹 Bands
Style: Clouds (default), Upper band, Lower band, Bands
Type MA: choose between SMA, EMA, RMA, HullMA, WMA, VWMA (default), DEMA, TEMA, NONE (off)
Length: Length of moving average and Donchian calculations (default 20)
Colour Bands
🔹 S/R (Support/Resistance, visible with Clouds, Upper band or Lower band)
Type MA: choose between SMA, EMA, RMA, HullMA, WMA, VWMA (default), DEMA, TEMA, NONE (off)
Length: Length of moving average and Donchian calculations (default 20)
Colour S/R
Ehlers SuperSmootherJohn F. Ehlers has provided the SuperSmoother filter in several of his works, including his book "Cyclical Analytics for Traders", Chapter 3.
The SuperSmoother filter is utilized whenever one might typically apply a moving average of any kind. The outcome is that the output signal from the SuperSmoother filter displays significantly less lag compared to an equivalent amount of smoothing from a moving average. The lag difference between a moving average and the SuperSmoother filter becomes even more pronounced when critical periods are extended.
Market data contains noise, and the purpose of smoothing filters is to mitigate this noise. In fact, there are various types of noise inherent in market data. One type of noise is systemic, originating from random trading activities. Another type is aliasing noise, which arises due to the use of discrete data. Aliasing noise dominates the data when considering shorter cycle durations.
It's tempting to perceive market data as a continuous wave, but that's a misconception. Taking the closing price as representative of a bar provides just a single data point. Whether you opt for the midpoint between the high and low instead of the closing price, you're still limited to one sample per bar. Given the discrete nature of this data, certain spectral implications must be considered. For instance, the shortest feasible analysis period (without aliasing) is a two-bar cycle. This is referred to as the Nyquist frequency, at 0.5 cycles per sample.
An ideally sampled two-beat sinusoidal cycle becomes rectified when discretized. However, peak sampling for the cycle isn't always guaranteed, and interference between the sampling rate and the data frequency results in aliasing noise. This noise decreases as the data period lengthens. For example, a four-beat cycle implies four samples per cycle. With more samples, the sampled data provides a better representation of the sinusoidal component. The replica becomes even more accurate for an eight-bar data component. The increased precision of discrete data signifies that aliasing noise decreases as cycle durations expand.
A smoothing filter should possess the selectivity to reduce the aliasing noise below systemic noise levels. Given that aliasing noise increases by 6 dB per octave above the filter's selected cutoff frequency and the SuperSmoother's attenuation rate is 12 dB per octave, the SuperSmoother filter emerges as an effective tool to virtually eliminate aliasing noise in its output signal.
There are already several SuperSmoother indicators on Tradingview, but I like to structure the code and highlight the main components as functions rather than hiding them in the code. I hope this is useful for those who are starting to learn Pine Script.
wosabi Investment assistant and Swing trading CRYPTOThis indicator works to calculate the exponential moving average (EMA) of three symbols. The first is the symbol shown on the chart in front of you, the second is for Bitcoin (it can be changed), and the third is the dollar strength index (DXY), which can be changed.
- The indicator calculates the exponential average of more than one symbol that you choose from the settings
When one of the lines appears in green, this means that the exponential average (EMA) is positive. Each line represents a different value for the averages that can be changed from the default settings to any other appropriate value.
Every five lines represent the averages of the symbol, and the three symbols are separated by a dashed white line to differentiate between the indicators of the three symbols.
Note: The colors have been changed inversely for the third symbol (dxy). When the averages are positive, the color will be red, and if they are negative, the color will be green, as the current settings are suitable for encrypted digital currency symbols that interact inversely with the Dollar Strength Index, and the colors can be changed from the indicator’s settings.
Integrating the values of the three symbols into the Relative Strength Index, which can be changed according to the leading symbols that influence positively or negatively, and this varies from one market to another to give a clearer indication when the negative symbol rises or falls and affects the rest of the symbols.
The current settings are suitable for the digital currency market, and the symbols must be changed for the rest of the markets
Note: The second symbol is the positive influence and the third symbol is the negative influence
Bunch of WillyThe indicator allows you to track overbought/oversold conditions using the Williams indicator on several higher timeframes of the same ticker on one chart. Based on the relative position of the lines of different timeframes and their position relative to the exponential moving average, you can track the occurrence of situations of simultaneous overbought/oversold of several timeframes, which is a cleaner reversal signal than overbought/oversold on just one chart timeframe. So far the script itself does not indicate these points, but perhaps in one of the next updates I will fix this.
In addition, the exponential moving average can be used to determine the direction of the trend.
Индикатор позволяет на одном графике отслеживать перекупленность/перепроданость по индикатору Вильямса на нескольких более высоких таймфреймах того же тикера. Основываясь на взаимном положении линий разных таймфреймов и их положении относительно экспоненциальной скользящей средней можно отслеживать возникновение ситуаций одновременной перекупленности/перепроданности нескольких таймфреймов что является более чистым разворотным сигналом чем перекупленность/перепроданность на одном лишь таймфрейме графика. Пока скрипт сам не обозначает эти моменты, но возможно в одном из следующих обновлений я это исправлю.
Кроме того по экспоненциальной скользящей средней можно определять направление тренда.
Buy Sell Volume SeparateDescription:
The script is designed to provide traders with a unique and comprehensive analysis of trading volume dynamics. Unlike existing scripts, the script offers a distinct advantage by presenting both buy and sell volumes on separate scales, simplifying trading decisions.
Key Features:
1. Dual Volume Scales: The script provides two separate volume scales, one for buy volumes and another for sell volumes. This separation allows to easily distinguish between buying and selling pressure, aiding in more precise trade entries and exits.
2. Clear and Intuitive Chart: The script ensures that the chart it generates is clean and easy to understand. The buy and sell volumes are color-coded for clarity, and you can quickly identify significant volume spikes and trends.
How to Use:
1. Adding the Script: To use the script, simply add it to your TradingView chart.
2. Interpreting Buy and Sell Volumes: On the chart, you will see two separate volume scales—one for buy volumes and one for sell volumes. Green bars represent buying pressure, while red bars indicate selling pressure. Pay attention to the relative strengths and patterns of these bars to gauge market sentiment.
3. Informed Trading Decisions: Armed with insights into both buy and sell volumes, you can make more informed trading decisions. Look for divergences, patterns, or significant volume spikes to identify potential entry and exit points.
