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Wellenanalyse

DrawingTypesLibrary "DrawingTypes" User Defined Types for basic drawing structure. Other types and methods will be built on these. Point   Point refers to point on chart   Fields:      price : pivot price      bar : pivot bar      bartime : pivot bar time LineProperties   Properties of line object   Fields:      xloc : X Reference - can be either xloc.bar_index or xloc.bar_time. Default is xloc.bar_index      extend : Property which sets line to extend towards either right or left or both. Valid values are extend.right, extend.left, extend.both, extend.none. Default is extend.none      color : Line color      style : Line style, valid values are line.style_solid, line.style_dashed, line.style_dotted, line.style_arrow_left, line.style_arrow_right, line.style_arrow_both. Default is line.style_solid      width : Line width. Default is 1 Line   Line object created from points   Fields:      start : Starting point of the line      end : Ending point of the line      properties : LineProperties object which defines the style of line      object : Derived line object LabelProperties   Properties of label object   Fields:      xloc : X Reference - can be either xloc.bar_index or xloc.bar_time. Default is xloc.bar_index      yloc : Y reference - can be yloc.price, yloc.abovebar, yloc.belowbar. Default is yloc.price      color : Label fill color      style : Label style as defined in www.tradingview.com Default is label.style_none      textcolor : text color. Default is color.black      size : Label text size. Default is size.normal. Other values are size.auto, size.tiny, size.small, size.normal, size.large, size.huge      textalign : Label text alignment. Default if text.align_center. Other allowed values - text.align_right, text.align_left, text.align_top, text.align_bottom      text_font_family : The font family of the text. Default value is font.family_default. Other available option is font.family_monospace Label   Label object   Fields:      point : Point where label is drawn      lblText : label text      tooltip : Tooltip text. Default is na      properties : LabelProperties object      object : Pine label object Linefill   Linefill object   Fields:      line1 : First line to create linefill      line2 : Second line to create linefill      fillColor : Fill color      transparency : Fill transparency range from 0 to 100      object : linefill object created from wrapper BoxProperties   BoxProperties object   Fields:      border_color : Box border color. Default is color.blue      bgcolor : box background color      border_width : Box border width. Default is 1      border_style : Box border style. Default is line.style_solid      extend : Extend property of box. default is extend.none      xloc : defines if drawing needs to be done based on bar index or time. default is xloc.bar_index BoxText   Box Text properties.   Fields:      boxText : Text to be printed on the box      text_size : Text size. Default is size.auto      text_color : Box text color. Default is color.yellow.      text_halign : horizontal align style - default is text.align_center      text_valign : vertical align style - default is text.align_center      text_wrap : text wrap style - default is text.wrap_auto      text_font_family : Text font. Default is Box   Box object   Fields:      p1 : Diagonal point one      p2 : Diagonal point two      properties : Box properties      textProperties : Box text properties      object : Box object created
Pine Script™ Bibliothek
von Trendoscope
4
DEMO - FxCanli Price ActionEN - FxCanli TradingView Price Action indicator can draw and alert at everything about PRICE ACTION. DEMO VERSION of FXCANLI PRICE ACTION Indicator work with any NZD or any DOGE symbols TR - FxCanli TradingView Price Action indikatörü grafiklerinizde PRICE ACTION ile ilgili tüm çizimleri yapar ve alarm verir. FXCANLI PRICE ACTION indikatörünün DEMO VERSİYONUNU herhangi bir NZD veya DOGE sembolü ile kullanabilirsiniz. EN - For Example | TR - Örnek NZD|... NZD|USD NZD|CAD NZD|CHF NZD|JPY DOGE|... DOGE|USD DOGE|USDT DOGE|USDTPERP DOGE|BTC EN - FxCanli TradingView Price Action indicator can draw and alert at; Break of Structure (BOS), Change of Character (CHoCH), Liquidity, Order Block, Supply & Deman TR - FxCanli TradingView Price Action indikatörü grafiklerinizde; Break of Structure (BOS) Change of Characte (CHoCH) Liquidity Order Block Arz & Talep bölgelerini otomatik olarak çizer ve alarm verir. Market Structure; EN - You can easly follow market structure, Up Trend with green waves, Down trend with Red waves TR - Market yapısını kolayca takip edebilirsiniz. Yukarı trendi yeşil dalgalar ile, Aşağı trendi kırmızı dalgalar ile. Change of Character (CHoCH) ************************************* EN - Shows trend reversals TR - Trend dönüşümlerini gösterir Break of Structure (BOS) ****************************** EN - Shows trend continuations TR - Devam eden trendleri gösterir Liquidity *********** EN - Shows Liquidity levels TR - Likidite seviyelerini gösterir Order Block and Supply&Demend *************** EN - Shows Order Block and Supply&Demend levels which is a technical analysis technique that tracks the accumulation of orders (when bullish ) and distribution of orders (when bearish ) of banks and institutional traders. TR - Bankaların ve kurumsalların emir birikimini (yükseliş olduğunda) ve emir dağılımını (düşüş olduğunda) Order Block ve Arz & Talep olarak gösterir.
Pine Script™ Indikator
von FxCanli
6
DEMO - FxCanli TrendEN - FxCanli Trend indicator will help you to show the way of the trend and give alerts when trend changed DEMO VERSION of FXCANLI TREND Indicator work with any NZD or any DOGE symbols TR - FxCanli Trend İndikatörü grafiklerinizde trendin yönünü veren ve trend değiştiğinde alarm veren TradingView indikatörüdür. FXCANLI TREND indikatörünün DEMO VERSİYONUNU herhangi bir NZD veya DOGE sembolü ile kullanabilirsiniz. EN - For Example | TR - Örnek NZD|... NZD|USD NZD|CAD NZD|CHF NZD|JPY DOGE|... DOGE|USD DOGE|USDT DOGE|USDTPERP DOGE|BTC EN - FxCanli Trend indicator will help you to show the way of the trend and give alerts when trend changed When the candles are; Green Candles - Up Trend Yellow Candles - Trend may Change Red Candles - Down Trend TR - FxCanli Trend İndikatörü grafiklerinizde trendin yönünü veren ve trend değiştiğinde alarm veren TradingView indikatörüdür. Yeşil Mumlar - Yukarı Trend Sarı Mumlar - Trend Dönebilir Kırmızı Mumlar - Aşağı Trend HOW TO USE BUY & SELL SIGNALS ? (ALIŞ & SATIŞ SINYALLERI NASIL KULLANILIR?) 1) Never use BUY or SELL signals without any chart patterns. (Alış veya Satış sinyallerini asla formasyonsuz kullanmayın) it can give good results with the candle color change when chart pattern triggered (Formasyon gerçekleştiğinde, mum rengi değişimi takip edilmeli) Ex 1) Wedge Pattern (Takoz Formasyonu) - BTC|USDT Ex 2) Flag Pattern (Bayrak Formasyonu) - ETC|USDT Ex 3) Head and Shoulders Pattern ( Omuz Baş Omuz Formasyonu) Ex 4) Triangle Pattern ( Üçgen Formasyonu) Features - Özellikler 1) Trend Panel - Trend Paneli 2)EN - Panel Width - to get better view at mobile phones and tablets TR - Cep telefonları ve tabletlerde daha güzel görünüm için Panel Genişliği 3) Multi Timeframe Trend Tracking - Çoklu Zaman Dilimi Trend Takibi 4) Alert Control / Alarm Kontrolü EN - Selected Alert - when all timeframes have same trend it will give selected time frame alert TR - Seçilmiş Zaman Dilimi - Tüm seçilen zaman dilimleri aynı trend olunca, seçilmiş zaman dilimi alarmı verir
Pine Script™ Indikator
von FxCanli
1
DEMO - FxCanli S/REN - FxCanli S&R indicator shows any drawings about Support & Resistance on charts DEMO VERSION of FXCANLI S&R Indicator work with any NZD or any DOGE symbols TR - FxCanli S&R indikatörü grafiklerinizde Destek & Direnç ile ilgili tüm çizimleri otomatik yapar FXCANLI S&R indikatörünün DEMO VERSİYONUNU herhangi bir NZD veya DOGE sembolü ile kullanabilirsiniz. EN - For Example | TR - Örnek NZD|... NZD|USD NZD|CAD NZD|CHF NZD|JPY DOGE|... DOGE|USD DOGE|USDT DOGE|USDTPERP DOGE|BTC **ENGLISH** This indicator shows; 1) Support Levels (Green Solid Line) 2) Resistance Levels (Red Solid Line) 3) Support Line (Green Dashed Line) 4) Resistance Line (Red Dashed Line) ALERTS at; Resistance Zone Breakout and Touch Resistance Line Breakout and Touch Support Zone Breakout and Touch Support Line Breakout and Touch AND AT PULLBACKS COMBO BREAKOUTS **TURKCE** Bu indikatör grafiklerinizde; 1) Destek Seviyelerini (Yeşil Kesintisiz Çizgi) 2) Direnç Seviyelerini (Kırmızı Kesintisiz Çizgi) 3) Destek Çizgisini (Yeşil Kesikli Çizgi) 4) Direnç Çizgisini (Kırmızı Kesik Çizgi) çizer Alarm Özellikleri; Destek Bölgesi Kırılımı ve Teması Destek Çizgisi Kırılımı ve Teması Direnç Bölgesi Kırılımı ve Teması Direnç Çizgisi Kırılımı ve Teması VE PULLBACK lerde (GeriOnaylarda) COMBO KIRILIMLARDA Some Examples / Bazı Örnekler s3.tradingview.com s3.tradingview.com s3.tradingview.com s3.tradingview.com
Pine Script™ Indikator
von FxCanli
DEMO - FxCanli PRZEN - FxCanli PRZ indicator shows Price Reversel Zones on your charts. DEMO VERSION of FXCANLI PRZ Indicator work with any NZD or any DOGE symbols TR - FxCanli PRZ indikatörü grafiklerinizde olası dönüş bölgelerini gösterir. FXCANLI PRZ indikatörünün DEMO VERSİYONUNU herhangi bir NZD veya DOGE sembolü ile kullanabilirsiniz. EN - For Example | TR - Örnek NZD|... NZD|USD NZD|CAD NZD|CHF NZD|JPY DOGE|... DOGE|USD DOGE|USDT DOGE|USDTPERP DOGE|BTC FEATURES & EXAMPLES / ÖZELLİKLER & ÖRNEKLER ************************************************************** Multi Language / Çok Dil EN - You can get alerts in English or Turkish language TR - Alarmları İngilizce veya Türkçe olarak alabilirsiniz. Bullish - Bearish PRZ / Boğa - Ayı yönlü PRZ EN - You can choose Bullish and Bearish PRZ or either TR - Boğa ve Ayı yönlü veya herhangi birini seçebilirsiniz Buy - Sell Labels / Al -Sat Etiketleri EN - You can see (S)ell label and (B)uy label at the end of Price Reversal Zones TR - Olası Dönüş Bölgelerinin sonunda (S)ell-Sat etiketini ve (B)uy-Al etiketini görebilirsiniz. Panel Properties / Panel Özellikleri EN - In the panel settings, you can follow up with different characters and emojis when you enter the PRZ, at the PRZ and exit from PRZ. TR - Panel ayarlarında, olası dönüş bölgesine girdiğinde, olası dönüş bölgesinde ve olası dönüş bölgesinden çıktığını faklı karakter ve emojiler ile takip edebilirsiniz Multi Timeframe / Çoklu Zaman dilimi EN - You can easly follow all timeframes at one chart TR - Tüm zaman dilimlerini tek bir grafikte takip edebilirsiniz EN - Panel Width - to get better view at mobile phones and tablets TR - Cep telefonları ve tabletlerde daha güzel görünüm için Panel Genişliği Alerts / Alarmlar EN - You can set only one alert for all timeframe and all prz alerts TR - Bir alarm kurarak, tüm zaman dilimlerinde PRZ alarmlarını alabilirsiniz
Pine Script™ Indikator
von FxCanli
DEMO - FxCanli ZigZagEN - You can spot current trend and lots of patterns with FxCanli ZigZag indicator EASLY DEMO VERSION of FXCANLI ZIGZAG Indicator works on only GBPNZD and XRPUSDT charts TR - FxCanli ZigZag indikatörü mevcut trendi ve birçok formasyonu KOLAYCA bulmanızda size yardımcı olacaktır. FXCANLI ZIGZAG indikatörünün DEMO VERSİYONU sadece GBPNZD ve XRPUSDT grafiklerinde çalışır EN - Market Structure (At the Current time frame you can choose different colors for UpTrend and DownTrend) TR - Market Yapısı (Mevcut zaman diliminde, Yukarı Trend ve Aşağı trendin rengini seçebilirsiniz.) Harmonic Patterns / Harmonik Formasyonları Elliott Wave / Elliott Dalgaları AB=CD Pattern / AB=CD Formasyonu EN - By activating the lower timeframe from the settings, you can see the lower timeframe waves. TR - Ayarlardan alt zaman dilimini aktif ederek, alt zaman dilimi dalgalarını görebilirsiniz. EN - By activating the higher timeframe from the settings, you can see the higher timeframe waves. TR - Ayarlardan üst zaman dilimini aktif ederek, üst zaman dilimi dalgalarını görebilirsiniz.
Pine Script™ Indikator
von FxCanli
Elliott Wave - HAP [PRO] █ OVERVIEW  Meet HAP WAVE's real-time automated wave drawing tool on the chart. HAP WAVES Indicator is a technical analysis tool that uses Elliott Wave Theory and various technical indicators to analyze price and volume data in financial markets, such as crypto, stocks, and forex. It automatically draws Elliott Waves on the chart in real-time and provides features to identify potential buy and sell signals. The indicator can be used to identify target areas for waves 3, 5, and C, and shows both downward and upward waves. Additionally, the tool displays the real-time ratio of each wave and allows users to adjust wave rules flexibly. The tool also provides pre-sign analysis to help users predict future waves and includes alerts for various events, such as the start of a wave or the failure of a wave pattern. The indicator includes a trend channel and has several pairs of scan-wave tools. including real-time wave counting ════════════════════════ 🎯 Feature   • Can draw wave lines in real time, indicating at that moment what wave the market is in.   • Automatically identify the target area of waves 3, 5, and C.   • Keep drawing waves automatically. All waves   • Shows both a downward wave (Bear) and an upward wave (Bull).   • Displays the real time ratio of each wave. (when hovering over the wave number)   • Each wave rule can be adjusted flexibly.   • Pre-show signs analyze waves that may occur in the future.   • Alert yourself when you encounter waves that are likely to occur in advance.   • Notify when meeting the start of a given wave.   • Alert when wave 2,4,A,B fail   • Notify when the wave is expanding again   • Multiple alert formats (save your alert, set it up just once, and receive all alerts according to 9–12)   • Hit Trend Channel from Automatic Coupled Price Swing  *There are also several pairs of scan wave tools. ════════════════════════           🔻Components 🎯  Unlocking the Power of the Elliott Wave Theory   feature that can set the starting point of the wave. by yourself   Trend Following Of course, adding this could be an element to help you make your decision easier.   Support and resistance 🎲 Scan version This : ================================ 🎯  Explanation of the wave counter setting section ════════════════════════ ⬜ Understanding its basic principles and rules Elliott Wave Prediction  Elliott Wave Theory is a technical analysis tool that seeks to identify patterns in financial market data and to make predictions about future price movements. The theory was developed by Ralph Nelson Elliott in the 1930s and is based on the idea that financial markets move in repetitive patterns, or waves, that can be analyzed and traded.  The Elliott Wave Theory has specific rules and guidelines for counting waves and determining their characteristics, including direction, size, and duration. The theory divides waves into two categories: motive waves (1, 2, 3, 4, and 5) and corrective waves (A, B, C). Motive waves are those that move in the direction of the overall trend and are subdivided into five smaller waves. Corrective waves are those that move against the trend and are subdivided into three smaller waves.  The theory also includes guidelines for determining the end of a wave and the start of a new wave, as well as rules for determining the characteristics of each wave, such as its size and duration. By analyzing the characteristics of waves and applying the rules and guidelines of the Elliott Wave Theory, traders and investors can make informed decisions about buying and selling in financial markets.  In summary, the Elliott Wave Theory is a technical analysis tool that seeks to identify patterns in financial market data and to make predictions about future price movements. The theory is based on the idea that financial markets move in repetitive patterns, or waves, and has specific rules and guidelines for counting and analyzing these waves.  >> The Elliott Wave Theory divides financial market movements into two categories: motive waves and corrective waves. Each wave has its own cycle and purpose, and understanding these cycles is important for making informed decisions about buying and selling in financial markets. Motive Waves: Motive waves move in the direction of the overall trend and are subdivided into five smaller waves. The five waves of a motive wave cycle are:   •Wave 1: The first wave of a motive wave cycle is often referred to as the "impulse wave." This wave represents the beginning of a new trend and is characterized by strong price movements in the direction of the trend.   •Wave 2: The second wave is a corrective wave that retraces a portion of the gains made in Wave 1. This wave is usually smaller and less intense than Wave 1.   •Wave 3: The third wave is usually the longest and strongest wave of the motive wave cycle, and it represents the continuation of the trend. This wave is characterized by strong price movements in the direction of the trend and is usually much larger than Waves 1 and 2.   •Wave 4: The fourth wave is a corrective wave that retraces a portion of the gains made in Wave 3. This wave is usually smaller and less intense than Waves 1 and 3, and it provides a temporary pause in the trend.   •Wave 5: The fifth wave is the final wave of the motive wave cycle and is usually the shortest and weakest wave. This wave represents the end of the trend and is characterized by a final push in the direction of the trend. Corrective Waves: Corrective waves move against the trend and are subdivided into three smaller waves. The three waves of a corrective wave cycle are:   •A. Wave A: The first wave of a corrective wave cycle is often referred to as the "A wave." This wave is characterized by a downward move against the trend and represents the start of a correction.   •B. Wave B: The second wave of a corrective wave cycle is the "B wave." This wave is characterized by an upward move against the trend, and it represents the counter-trend rally.   •C. Wave C: The final wave of a corrective wave cycle is the "C wave." This wave is characterized by a downward move in the direction of the trend, and it represents the completion of the correction. In summary, the Elliott Wave Theory divides financial market movements into two categories: motive waves, which move in the direction of the trend, and corrective waves, which move against the trend. Understanding the cycle of each wave is important for making informed decisions about buying and selling in financial markets. ════════════════════════ 🎯  CONCEPTS (Disclaimer) Elliott Wave Count  The HAP WAVES indicator is designed for experienced traders who are familiar with advanced trading techniques. This tool is intended for day traders and long-term investors who have a solid understanding of the market and are looking to improve their trading strategy. The indicator was created by a well-known market analyst and is based on the principles and techniques documented in several books, including those by `Jason Perl`.  It is recommended that users of the HAP WAVES indicator have a good understanding of the concepts and techniques discussed in the books that cover this indicator. Before using the tool, it is important to have a good understanding of the underlying principles and techniques in order to make the most of the indicator and potentially improve your trading performance. ════════════════════════ 🎯  Rules and Principles of this Indicator * This description only addresses bullish (uptrend) markets, while bearish (downtrend) gives let you look a vice versa.   • ▶ HAP WAVES Requirements for Wave 1 The Wave 1 HAP WAVES requirements for a bullish (rising) market require that the market has closed a minimum of 21 bars below all 20 previous closes, then closes a maximum of 13 bars above all 12 previous closes, and finally reaches an 8 bar close below all 7 previous closes, to confirm that Wave 2 has formed.   • ▶ HAP WAVES Requirements for Wave 2 The first requirement for Wave 2 is the last requirement for Wave 1, which is a close of at least 8 bars with a close less than the previous 7 bars. Wave 2 continues until the market records a 21-bar close above all 20 previous closes, indicating the start of Wave 3.   • ▶ HAP WAVES Requirements for Wave 3 Wave 3 is confirmed after Wave 2 closes at 21 bars high, and it continues until there is a 13 bar close, indicating the end of Wave 3 and the start of Wave 4.   • ▶ HAP WAVES Requirements for Wave 4 The first requirement for Wave 4 is that there is a close at 13 bars after the end of Wave 3. Wave 4 is complete when the market records a 34 bar close (above all previous 33 closes), indicating the start of Wave 5.   • ▶ HAP WAVES Requirements for Wave 5 The first requirement for Wave 5 is a 34 bar close, signaling the end of Wave 4. The wave is considered complete when a 13 bar close is published, resulting in Wave A.   • ▶ HAP WAVES Requirements for Wave A The HAP WAVES Requirements for Wave A state that the first call for Wave A is a 13 bar close (close below all previous 12 closes), signaling the end of Wave 5. Wave A is considered complete with an 8 bar high close (close above previous 7 closes), leading to the start of Wave B.   • ▶ HAP WAVES Requirements for Wave B The first requirement for Wave B is a 8 bar high close (close above the previous 7 closes) after Wave A. Wave B is complete when there is a 21 bar low close (close below all 20 previous closes).   • ▶ HAP WAVES Requirements for Wave C Wave C starts with a close of 21 bars low for Wave C, meaning the market close is below all 20 previous closes. Wave C is considered closed when the market closes below the close low of Wave A. *  Additional rules to apply the HAP WAVES indicator to the bullish trend   • The peak of Wave 3 must be higher than the close of Wave 1, and the peak of Wave 5 must be higher than the peak of Wave 3.   • If the pullback from Wave 1 is shallow, and the market later retraces above the high close of Wave 1, Wave 1 will slide to the right to align with the new high close.   • If the pullback from Wave 3 is shallow, and the market later retraces above the high close of Wave 3, Wave 3 will slide to the right to align with the new high close.   • Wave 5 will only be confirmed if Wave C crosses the low close of Wave A. If Wave B closes above the high close of Wave 5, Waves A, B and C will be erased and Wave 5 will slide to the right.   • If Wave 2 closes below the low close of Wave 1, the countdown will start over, and if Wave 4 closes below the low close of Wave 2, Wave 2 will move to the location of Wave 4.   • After Wave C crosses the low close of Wave A, Wave 5 will be locked in and cannot move. If the market later retraces above the high close of Wave 5, it will be marked as a new advance in Wave 1 rather than a blur of the previous Wave 5. ════════════════════════
Pine Script™ Indikator
von hapharmonic
221
Elliott Wave Scanner - HAP [PRO] ▶Elliott Wave Scanner This is an added feature of the wave drawing version, but this version is used for scanning multiple currency pairs simultaneously, based on the custom list you have specified as your preferred ones, making it more convenient for you. This : ════════════════════════ This will be an adjustment of the number bars to be similar to the version in the drawing wave, with the only difference being that this version will be a scan of multiple waveforms simultaneously, including the input data format. It is recommended to only change the numbers, maintaining the original structure to avoid any errors, as demonstrated in the example below. This is a valid example.👇 Wave0= (21), Wave1= (13), Wave2= (8), Wave3= (21), Wave4= (13), Wave5= (34), WaveA= (13), WaveB= (8), WaveC= (21) **Kindly note to specify the numerical sequence of each wave. Parentheses should always be preceded by a comma and conclude on the final line without one. ════════════════════════ ▶Let's take a look at the different parts of the scanned version. ════════════════════════ 🎯 Bringing in the RSI to help make decisions, as referenced in the book by "Jason Perl". if the market is advancing as part of a bullish HAP WAVE up sequence, then the RSI should remain above `40` during corrective setbacks for HAP WAVEs 2 and 4. Similarly, if the market is declining as part of a bearish HAP WAVE down sequence, then the RSI should remain beneath 60 during corrective for HAP WAVEs 2 and 4 For example, an uptrend in Wave tends to cause an RSI divergence between Wave 5 and Wave 3. When Wave 5 exceeds Wave 3, the RSI is often seen at Wave 5, which is lower than Wave 3.
Pine Script™ Indikator
von hapharmonic
56
Wave Master ProThis indicator is built on Stochastics and uses multiple timeframes to give you a heatmap style view of where overbought and oversold levels are across 25 different timeframes. Here's a few things you'll want to watch out for when using this indicator: OVERBOUGHT When a wave goes into overbought or is approaching overbought, you'll notice the heatmap transitioning from orange to red. Probably wise to move up stop losses or close the position out, especially when the entire vertical time slot is completely red. OVERSOLD Opposite of overbought, when a wave goes into oversold, the heatmap will transition from orange to green. This could be a good place to close out short positions or be on the lookout for long positions. Again, especially when the entire vertical time slot is completely green. TIMEFRAMES This indicator is dynamic in that it will automatically adjust the heatmap timefrmaes as you change the timeframe of your chart. LIMITATIONS Due to there being so many different timeframes that are utilized in this indicator, you will find that this indicator works best on 1H timeframes or lower, but it will work up to 4H timeframes. Currently, anything above 4H is not optimal for this indicator. I would recommend using the regular Wave Master indicator if you like using high timeframes. OTHER USEFUL INFORMATION This is a vidual aid in determining when many timeframes approach and reach extended levels based on the configuration of the Stochastics that we have found to be most optimal, especially in lower timeframes. It is wise to refer back to the Wave Master indicator for a raw view of the waves.
Pine Script™ Indikator
von bitdoctor
MATHR3E WAVES█ OVERVIEW MATHR3E WAVES automatically draws Elliott Waves on your charts with their potential associated targets. █ CONCEPTS Disclaimer MATHR3E RETRACEMENTS indicator is intended for advanced traders and may fit your profile, whether you are a day trader or a long-term investor. It was originally developed by a renowned market analyst and documented in numerous books. Among them is the author Jason Perl. It is recommended to have read the trading techniques mentioned in the books covering this indicator beforehand. How to use: MATHR3E WAVES indicator can provide a roadmap of market direction that you can use to determine price targets and isolate exhaustion points from potential trends in conjunction with other indicators by the same author. Be aware the indicator's approach is derived from the Elliott wave theory and may slightly diverge from the cardinal rules of Elliott waves. Principle of the Elliott Wave Theory Movement in the direction of the trend is unfolding in 5 waves (called motive wave) while any correction against the trend is in three waves (called corrective wave). The movement in the direction of the trend is labeled as 1, 2, 3, 4, and 5. The three-wave correction is labeled as a, b, and c. These patterns can be seen in the long term as well as short term charts. Wave 1: Wave one is rarely obvious at its inception. When the first wave of a new bull market begins, the fundamental news is almost universally negative. The previous trend is considered still strongly in force. Fundamental analysts continue to revise their earnings estimates lower; the economy probably does not look strong. Sentiment surveys are decidedly bearish, put options are in vogue, and implied volatility in the options market is high. Volume might increase a bit as prices rise, but not by enough to alert many technical analysts. Wave 2: Wave two corrects wave one, but can never extend beyond the starting point of wave one. Typically, the news is still bad. As prices retest the prior low, bearish sentiment quickly builds, and "the crowd" haughtily reminds all that the bear market is still deeply ensconced. Still, some positive signs appear for those who are looking: volume should be lower during wave two than during wave one, prices usually do not retrace more than 61.8% of the wave one gains, and prices should fall in a three-wave pattern. Wave 3: Wave three is usually the largest and most powerful wave in a trend. The news is now positive and fundamental analysts start to raise earnings estimates. Prices rise quickly, corrections are short-lived and shallow. Anyone looking to "get in on a pullback" will likely miss the boat. As wave three starts, the news is probably still bearish, and most market players remain negative; but by wave three's midpoint, "the crowd" will often join the new bullish trend. Wave three often extends wave one by a ratio of 1.618:1. Wave 4: Wave four is typically clearly corrective. Prices may meander sideways for an extended period, and wave four typically retraces less than 38.2% of wave three. Volume is well below that of wave three. This is a good place to buy a pullback if you understand the potential ahead for wave 5. Still, fourth waves are often frustrating because of their lack of progress in the larger trend. Wave 5: Wave five is the final leg in the direction of the dominant trend. The news is almost universally positive and everyone is bullish. Unfortunately, this is when many average investors finally buy-in, right before the top. Volume is often lower in wave five than in wave three, and many momentum indicators start to show divergences (prices reach a new high but the indicators do not reach a new peak). Wave A: Corrections are typically harder to identify than impulse moves. In wave A of a bear market, the fundamental news is usually still positive. Most analysts see the drop as a correction in a still-active bull market. Some technical indicators that accompany wave A include increased volume, rising implied volatility in the options markets, and possibly a turn higher in open interest in related futures markets. Wave B: Prices reverse higher, which many see as a resumption of the now long-gone bull market. Those familiar with classical technical analysis may see the peak as the right shoulder of a head and shoulders reversal pattern. The volume during wave B should be lower than in wave A. By this point, fundamentals are probably no longer improving, but they most likely have not yet turned negative. Wave C: Prices move impulsively lower in five waves. Volume picks up, and by the third leg of wave C, almost everyone realizes that a bear market is firmly entrenched. Wave C is typically at least as large as wave A and often extends to 1.618 times wave A or beyond. █ FEATURES & BENEFITS Versatile The indicator works on relative price action, so you can apply it without having to change any of the default settings. Targets: Customize the high and low wave targets to identify possible price target areas. Adjustable Rules:  • Shift Wave 2: if Wave 4 closes below the low close of Wave 2.  • Shift Wave 4: if Wave A closes below the low close of Wave 4.  • Allow Wave 4 to overlap Wave 1  • Allow truncated Wave 5  • Allow truncated Wave C Price ratio: Force waves 2/4 to retrace to a specific Fibonacci level. Force Waves 3/5 size to a specific Fibonacci level. Time Ratio: Force selected waves to last a required number of bars. Alerts: Set up your alerts and receive notifications on wave completion. Alerts format can be adapted to be received on Discord servers.
Pine Script™ Indikator
von MATHR3E
3
3 Zigzag for MTF Fib Alert [MsF]Japanese below / 日本語説明は英文の後にあります。 ------------------------- This indicator that automatically displays Fibonacci from each High & Low based on 3 Zigzags. It's useful for multi-timeframe analysis. For example, Fibonacci calculated from the high and low prices (Zigzag 3 Period=100) of the upper timeframe can be displayed on the lower timeframe. Also, you can set alerts for each Fibonacci point. It is useful when you are waiting for the price to return to the discount (50% or less) or the premium (50% or more) of the upper timeframe. "Fib 1 - Crossing 0.00" … Trigger an alert when crossing the 0% line in Fibonacci of Zigzag1 "Fib 1 - Crossing 100.0" … Trigger an alert when crossing the 100% line in Fibonacci of Zigzag1 "Fib 1 - Crossing 23.6" … Trigger an alert when crossing the 23.6% line in Fibonacci of Zigzag1 "Fib 1 - Crossing 38.2" … Trigger an alert when crossing the 38.2% line in Fibonacci of Zigzag1 "Fib 1 - Crossing 50.0" … Trigger an alert when crossing the 50.0% line in Fibonacci of Zigzag1 "Fib 1 - Crossing 61.8" … Trigger an alert when crossing the 61.8% line in Fibonacci of Zigzag1 "Fib 1 - Crossing 76.4" … Trigger an alert when crossing the 76.4% line in Fibonacci of Zigzag1 *Same as Zigzag 1 and Zigzag 2 too. "Choose Zig Zag Leg for fib" parameter means... Latest : Calculate Fibonacci based on "the most recent Zigzag line". Previous : Calculate Fibonacci based on "the previous Zigzag line". ------------------------- 3つのZigzagを元に各High＆Lowからフィボナッチを自動で表示するインジケーターです。 Zigzagの期間を工夫することで、マルチタイムフレーム分析に役立ちます。 例えば、以下の設定とした場合： Zigzag 1 Period … 8 Zigzag 2 Period … 25 Zigzag 3 Period … 100 上位時間足Zigzag（Period=100）の高値安値から形成されるフィボナッチを下位時間足に表示することができるのです。 また、このインジケーターではフィボナッチのポイント毎にアラートの設定が可能です。 上位時間足の割安価格（50％以下）や割高価格（50％以上）に価格が戻ってくるのを待っている時などに力を発揮してくれます。 "Fib 1 - Crossing 0.00" … Zigzag1のフィボナッチにおいて、0%ラインとクロスした場合にアラートを発報します "Fib 1 - Crossing 100.0" … Zigzag1のフィボナッチにおいて、100%ラインとクロスした場合にアラートを発報します "Fib 1 - Crossing 23.6" … Zigzag1のフィボナッチにおいて、23.6%ラインとクロスした場合にアラートを発報します "Fib 1 - Crossing 38.2" … Zigzag1のフィボナッチにおいて、38.2%ラインとクロスした場合にアラートを発報します "Fib 1 - Crossing 50.0" … Zigzag1のフィボナッチにおいて、50.0%ラインとクロスした場合にアラートを発報します "Fib 1 - Crossing 61.8" … Zigzag1のフィボナッチにおいて、61.8%ラインとクロスした場合にアラートを発報します "Fib 1 - Crossing 76.4" … Zigzag1のフィボナッチにおいて、76.4%ラインとクロスした場合にアラートを発報します ※Zigzag1およびZigzag2のフィボナッチも同様 "Choose Zig Zag Leg for fib"パラメータについて： Latest … 一番新しいZigzagのライン（UpまたはDown）を元にフィボナッチを計算します。 Previous … ひとつ前のZigzagのライン（UpまたはDown）を元にフィボナッチを計算します。
Pine Script™ Indikator
von Trader_Morry
24
TwV Market Signals ScreenerMarket Signals Screener This indicator allows traders to have a view of multiple pairs and timeframes Long/Short signals and specific information of parameters, based on the TwV Market Signals also developed by me and that can be found on my profile. Full Screener Panel This panel allows the trader to monitor multiple pairs at a single screen, giving an immediate vision of possible entries and exits (Long/Short). Moreover, allows traders to have handy all information of the TwV Market Signals Indicator that might be analyzed further for each pair. It has the following characteristics: It can be placed anywhere on the screen through the main menu of the indicator. It can be combined with the same indicator multiple times, as per screener is limited to show 40 pairs, you can select the number of panels being added to adjust position one next to each other. It strengthens colors when a pair has changed its signals in order to the trader to know immediate changes and then do the follow up The screener shows the pairs, which can be changed within the menus. The screener shows the Long and Short Signals in its las column but previously, it shows the most critical parameters in the strategies (Market Signals Indicator) that determined the possible Long/Short position. Therefore, the EMAs, STOCH, SQZ, ADX, and TTM, are summarized in the screener for each pair. For analyzing a specific pair, refer to the the Twv Market Signals Indicator, which is other indicator that might be on my TradingView Profile and that was used as base for the screener. How to use this indicator and work with the strategies of the TwV Market Signals Indicator The use of EMAs 10,20 and 50 draw the medium to long term trends, therefore avoiding signals against the trend. Furthermore, the EMAs will advise possible change in trends, especially considering the 10 and 20 cross, considering that crossing the 10,20 and 50, might confirm the change in med to long term trend change of the price. This is completely visual in the chart as it tints green for positive trend and yellow to red for negative trend. The 200 SMA is included as it also gives better confirmation to the trend, the basics tell that when the EMAs mentioned above are below the 200 SMA then the likelihood for entries in long positions are not the best and vice versa for short. Therefore, the trader shall filter Long and Short Signals accordingly as this EMAs are not used to send Long and Short signals considering that they confirm the trend in a slow pace and not reactively to the price volatility. There are two strategies built-in within the indicator: Strategy 1 – Longer time trades and high volatility handling The Long and Short Signals are based on 14 and EMAs (by default). This two Mas are used to send signals based on their crossovers as they are way more reactive to the price movement. Trader shall consider that EMAs are used for higher timeframes, therefore the indicator has the possibility to adjust the EMAs and use SMAs or WMAs instead for one or the two parameters (14 and 21). WMAs react faster to the price volatility so the trader shall adjust this according to the timeframe being used. (Lower timeframes suggested). This strategy is used for trades that might keep running for longer periods of times. For reference on what the SMAs, EMAs and WMAs are, please see below sections in the description. Strategy 2 - Shorter time trades and unhandled high volatility The Long and Short Signals are bases on HMA. HMAs (Hull Moving Averages) track the price movement and volatility way faster that SMAs, EMAs and WMAs, therefore as the HMA follow the price quicker, it is intended for short time trades even in higher timeframes. Scalping is not suggested using this strategy as HMA do not handle high volatility even on higher timeframes. One of the biggest differences from the first strategy is that there is no more than a single HMA length to work with, which is 24 as default. HMAs calculation is different to other MAs, therefore combining various HMAs lengths looking for crossovers become trend identification a lot less precise. HMAs are not intended to be used with different length crossovers. Exit points = The use of Stochastic and VRVP Stochastic RSI It is well known that when Stochastic RSI resets when overbought or oversold therefore traders have within a summary box the possibility to check whether the K & D lines in the Stochastic RSI hace crossed over bullish or bearish. Although the crossover is not mandatory for a change trend, the crossover might be used by the trader to exit a position considering that the price might move on the opposite direction. Traders shall look at the summary box, where bullish and bearish crossovers are shown, so they evaluate their position exit. Visible Range Volume Profile The use of the VRVP is to find support and resistance on the price movements. Although high and lows are used as possible supports and resistances, VRVP shows an area of confluence on the order book, where volume of positions are accumulated and that might act as support or resistance depending on the price direction. Traders can visually activate the VRVP to see the Point of Control (POC) directly on the chart as a line (similar as how a support or resistance would be drawn). Moreover, traders have the ability to see within the summary box, whether to see if the price is above or below the POC, so they clearly know if it is acting as support or resistance. Price Direction Trade the market trend is well known to be used to identify possible price direction. It is important not to confuse the longer time trend drawn by the EMAs with the TTM Trend bar color. The TTM trend colors bars according to the price direction, helping traders not to confuse when a red bar appears on an uptrend or green bars on a down trend. This coloring helps traders not to exit trades based on bar coloring, which might psychologically affect when scalping or short-term trading specially. Originally, the TTM trend is used considering the ADX in and indicator called TTM Squeeze, where the strength of the movement is measured, therefore although candle colors help with the price direction, ADX provides the trader the ability to see whether the direction is losing momentum and then catch the best possible exit before the direction change. Terminology basics Trend indicators Exponential Moving Average (EMAs): The base indicator is composed of moving averages of 10, 20 and 55 exponential periods, to determine a possible bullish or bearish trend (EMA Crossing) Simple Moving Average (SMA): The base indicator is composed of a moving average of 200 simple periods, which in conjunction with the EMAs can lead to estimate potential upward or downwards moves, as well as possible resistances. (SMA Positioning) Weighted moving average (WMA): It is a technical indicator that traders use to generate trade direction and make a long or short position. It assigns greater weighting to recent data points and less weighting on past data points. (WMA Crossing) Strength and S/R indicators VPVR (Volume Profile Visible Range): It allows to determine the Point of Control (POC) which is the node with the highest volume profile. This can be used as an important retest point or to calculate potential support and resistance. The POC level is represented with a red dotted line in the graph. The VPVR is a simplified version of the “TwV Multi-timeframe Dynamic VRVP” that you can find for free use in my profile. This version calculates the main’s timeframe POC and also has the possibility to be fixed range if the trader enables it from the menu. (Dynamic range by default). ADX (Average Directional Index): The ADX helps the indicator to estimate the strength of the movement, always considering the DI+ and DI- to not go against the trend strength. This is represented as summary text in a table. / Exit indicator Stochastic RSI: It is an indicator used in technical analysis that ranges between zero and a hundred and is created by applying the Stochastic oscillator formula to a set of relative strength index (RSI) values rather than to standard price data. Using RSI values within the Stochastic formula gives traders an idea of whether the current RSI value is overbought or oversold (Exit zones) / How to use Summary 1. Receive the Long or Short Signals using strategy 1 or 2, depending on the selected in the main menu of the indicator. 2. Evaluate the trend based on the 10,20, 50 and 200 MAs. Filter the Long and Short signals accordingly. 3. Monitor constantly the TTM Trend and the ADX for the direction and strength of the position entered and review if the momentum is being lost, considering step 4 or other possible reasons that might lead to exiting the position. 4. Once entered to a position evaluate constantly the Stochastic RSI bearish or bullish crossover or POC value on screen or summary box to exit the position. 5. Consider that for doing the evaluation individually, you shall use the TwV Market Signals.
Pine Script™ Indikator
von haimico
Laguerre Stochastic | AdulariDescription: The Laguerre Stochastic is similar to a 4-period regular Stochastic, except that a Laguerre transform has been applied for price smoothing. The Laguerre transform is a mathematical technique that allows smooth indicators to be built using small amounts of data. How do I use it? Never use this indicator as standalone trading signal, it should be used as confluence. When the value is above the middle line this shows the bullish trend is strong. When the value is below the middle line this shows the bearish trend is strong. When the value crosses above the upper line this indicates the trend may reverse downwards. When the value crosses below the lower line this indicates the trend may reverse upwards. When the value crosses above the signal this indicates the current bearish trend is getting weak and may reverse upwards. When the value crosses below the signal this indicates the current bullish trend is getting weak and may reverse downwards. Features: Oscillator value indicating the difference between highs and lows fractioned by the close price. %D value acting as a smoothed version of the %K. Horizontal lines such as oversold, overbought and middle lines, indicating possible interest zones. How does it work? 1 — Calculate regular Stochastic value. 2 — Apply the Laguerre transform. 3 — Calculate %D value by applying smoothing to the %K value.
Pine Script™ Indikator
von Adulari
TOTAL:(RSI+TSI)TOTAL:(RSI+TSI) This indicator collects instant data of RSI and TSI oscillators. RSI moves between (0) and (100) values as a moving line, while TSI moves between (-100) and (+100) values as two moving lines. The top value of the sum of these values is graphically; It takes the total value (+300) from RSI (+100), TSI (+100) and (+100). The lowest value of the sum of these values is graphically; It takes the value (-200) from the RSI (0), (-100) and (-100) from the TSI. In case this indicator approaches (+300) graphically; It can be seen that price candlesticks mostly move upwards. This may not always give accurate results. Past incompatibilities can affect this situation. In case this indicator approaches (-200) graphically; It can be seen that price candlesticks mostly move downwards. This may not always give accurate results. Past incompatibilities can affect this situation. The graphical movements and numerical values created by this indicator do not give precise results for price candles.
Pine Script™ Indikator
von gokhanpirnal
The Zig Zag Leveler IndicatorThis indicator is designed to identify potential trade setups in the market using the ZigZag indicator. It uses a combination of the ZigZag indicator and the background fill color to help identify areas of support and resistance. It also uses a pip offset to help with entries and exits. Additionally, it can generate alert conditions when the market direction changes and when a buy or sell signal is generated. This indicator can be used to help identify potential trade setups and can be customized to fit the user's trading strategy. This indicator takes the guesswork out of trading by providing traders with an array of signals that can help identify entry and exit points. The indicator uses two sets of signals to identify price levels that indicate potential entry and exit points - one set of signals that indicate potential entry points and another set of signals that indicate potential exit points. The indicator also provides traders with a visual representation of the signals that can help them better understand the signals and make informed trading decisions. With this indicator, traders can have a better understanding of the market and have a better chance of making profitable trades.
Pine Script™ Indikator
von noukpremcharan
The Zig Zag Leveler Strategy 1This indicator is designed to identify potential trade setups in the market using the ZigZag indicator. It uses a combination of the ZigZag indicator and the background fill color to help identify areas of support and resistance. It also uses a pip offset to help with entries and exits. Additionally, it can generate alert conditions when the market direction changes and when a buy or sell signal is generated. This indicator can be used to help identify potential trade setups and can be customized to fit the user's trading strategy. This indicator takes the guesswork out of trading by providing traders with an array of signals that can help identify entry and exit points. The indicator uses two sets of signals to identify price levels that indicate potential entry and exit points - one set of signals that indicate potential entry points and another set of signals that indicate potential exit points. The indicator also provides traders with a visual representation of the signals that can help them better understand the signals and make informed trading decisions. With this indicator, traders can have a better understanding of the market and have a better chance of making profitable trades.
Pine Script™ Strategie
von noukpremcharan
2
Multi-Timeframe MA Based Zigzag[liwei666]🎲 Overview 🎯 This Zigzag indicator build based on different MA such as EMA/HMA/RMA/SMA, support multi-timeframe setting . you can get customer zigzag indicator by change short/long ma length and high-timeframe config(5m/15m/30m/1h/2h) in any symbol. 🎲 Indicator design logic 🎯 entired logic is simple and code looks complex, I‘ll explain core logic here, code already equipped with detailed comments. 1. use close-in EMA's highest/lowest value mark as SWING High/Low when EMA crossover/under, not use func ta.pivothigh()/ta.pivotlow() 2. when EMA crossover/under plot a char as signal like ●/❄/▲, crossover get blue char crossunder get red char 3. latest zigzag line is not drawn until EMA is turned (crossover/under), but signal is realtime 4. you can see diff zigzag structure when you open high-timeframe config, then find regular pattern benefit your trading. 🎲 Settings 🎯 there are 3 group properties in script, just focus on 5 properties in 'GRP1' , 'GRP2' and 'GRP3' are display config. 'GRP1': MA_Type: MA type you can choose(EMA/RMA/SMA/HMA/WMA), default is EMA short_ma_len: short MA length of your current timeframe on chart long_ma_len: long MA length of your current timeframe on chart htf_ma_len: MA length of high timeframe, MA type same as 'MA_Type' config htf_ma_tf: high timeframe ma length, 15/30/60/120 minute 'GRP2': • show_short_zz • show_long_zz  • show_htf_zz: 'GRP3': • show_short_ma_line • show_short_ma_signal • show_long_ma_line • show_long_ma_signal • show_htf_ma_line • show_htf_ma_signal 🎲 Usage 🎯 As we know, MA based signal usually worked fine in trend market , low volatility is unprofitable. 🎯 One of pattern as the chart show below. 1. success example : after a blue ▲ signal, entry long when blue ● signal appear, marked with green box. 2. failed example: after a blue ▲ signal, a red ▼ signal appear, marked with white box. 🎯 BoS(Break of Structure) based on ma zigzag is a good idea I'm implementing, it will be published in next script. Additionally, I plan to publish 20 profitable strategies in 2023; this indicatior not one of them, let‘s witness it together! Hope this indicator will be useful for you :) enjoy! 🚀🚀🚀
Pine Script™ Indikator
von liwei666
2
Markets vs Inflation [x7.am]Markets vs Inflation(CPI US) also known as Inflation-Adjusted Return. The inflation-adjusted return is the measure of return that takes into account the time period's inflation rate. The purpose of the inflation-adjusted return metric is to reveal the return on an investment after removing the effects of inflation. Removing the effects of inflation from the return of an investment allows the investor to see the true earning potential of the security without external economic forces. The inflation-adjusted return is also known as the real rate of return or required rate of return adjusted for inflation. It is a more accurate measure of investment performance than the nominal rate of return. The inflation-adjusted return accounts for the effect of inflation on an investment's performance over time. Also known as the real return, the inflation-adjusted return provides a more realistic comparison of an investment's performance. Inflation will lower the size of a positive return and increase the magnitude of a loss. Assume you have saved $10,000 to buy a car but decide to invest the money for a year before buying to ensure that you have a small cash cushion left over after getting the car. Earning 5% interest, you have $10,500 after 12 months. However, because prices increased by 3% during the same period due to inflation, the same car now costs $10,300. Consequently, the amount of money that remains after you buy the car—which represents your increase in purchasing power—is $200, or 2% of your initial investment. This is your real rate of return, as it represents the amount that you gained after accounting for the effects of inflation. Markets vs Inflation indicators use in 1 months interval SP:SPX , INDEX:BTCUSD , TVC:GOLD , TVC:DJI
Pine Script™ Indikator
von x7-am
1
ZigCycleBarCount [MsF]Japanese below / 日本語説明は英文の後にあります。 Based on "ZigZag++" indicator by DevLucem. Thanks for the great indicator. ------------------------- This indicator that displays the candle count (bar count) at the peaks of Zigzag . It also displays the price of the peaks. You can easily count candles (bars) from peak to peak. Helpful for candles (bars) in cycle theory. This logic of the indicator is based from the mt4 zigzag indicator . Parameter: Depth = depth (price range) Backstep = Period Deviation ＝ Percentage of how much the price has wrapped around the previous line. Example: Depth = 12 Backstep = 3 Deviation = 5 In this case, the price range is updated by 12 pips or more (Depth), and after 3 or more candlesticks line up (Backstep), if the price deviates from the previous line by 5% or more (Deviation), a peak is added. ------------------------- Zigzagの頂点にローソクカウント（バーカウント）を表示するインジケータです。 頂点の価格も表示します。 頂点から頂点までのローソク（バー）を容易にカウントすることができます。 サイクル理論のローソク（バー）に役立ちます。 Zigzagロジック自体はMT4のzigzagインジケータを流用しています。 ＜パラメータ＞ Depth＝深さ（値幅） Backstep＝期間 Deviation＝価格がどれだけ直前のラインの折り返したかの割合 例： Depth＝12 Backstep＝3 Deviation＝5 この場合、値幅を12pips以上更新し（Depth）、ローソク足が3本以上並んだ後（Backstep）、価格が直前のラインの5％以上折り返せば（Deviation）、頂点を付けます。 ＜表示オプション＞ Label_Style = "TEXT"…テキスト表示、"BALLOON"…吹き出し表示
Pine Script™ Indikator
von Trader_Morry
30
ABC_caluculator for Ichimoku Kinko Hyo(IKH) usersThis tool is using for calculating Target Value(N,V,E prices) by only clicking on a chart. There is several points which makes it better. Decrease the number of times of clicking. Calculator needs a reset button, it's like loop structure. Push the reset and function again. Plot percentages which it compare closing price and Target Value(N,V,E prices) on a chart. Plot loss cut points from evaluating risk/returns. My question is also written down precisely here !!!!! ↓ stackoverflow.com
Pine Script™ Indikator
von Top_Amelia
1
Channel Based Zigzag [HeWhoMustNotBeNamed]🎲 Concept Zigzag is built based on the price and number of offset bars. But, in this experiment, we build zigzag based on different bands such as Bollinger Band, Keltner Channel and Donchian Channel. The process is simple: 🎯 Derive bands based on input parameters 🎯 High of a bar is considered as pivot high only if the high price is above or equal to upper band. 🎯 Similarly low of a bar is considered as pivot low only if low price is below or equal to lower band. 🎯 Adding the pivot high/low follows same logic as that of regular zigzag where pivot high is always followed by pivot low and vice versa. 🎯 If the new pivot added is of same direction as that of last pivot, then both pivots are compared with each other and only the extreme one is kept. (Highest in case of pivot high and lowest in case of pivot low) 🎯 If a bar has both pivot high and pivot low - pivot with same direction as previous pivot is added to the list first before adding the pivot with opposite direction. 🎲 Use Cases Can be used for pattern recognition algorithms instead of standard zigzag. This will help derive patterns which are relative to bands and channels. Example: John Bollinger explains how to manually scan double tap using Bollinger Bands in this video: www.youtube.com This modified zigzag base can be used to achieve the same using algorithmic means. 🎲 Settings Few simple configurations which will let you select the band properties. Notice that there is no zigzag length here. All the calculations depend on the bands. With bands display, indicator looks something like this Note that pivots do not always represent highest/lowest prices. They represent highest/lowest price relative to bands. As mentioned many times, application of zigzag is not for buying at lower price and selling at higher price. It is mainly used for pattern recognition either manually or via algorithms. Lets build new Harmonic, Chart patterns, Trend Lines using the new zigzag?
Pine Script™ Indikator
von Trendoscope
18