Chart Champions - Part 2 - CCV IBs POCs
Thank you for sparing you time to read my indicator.
This indicator has been created as a suite of 3. This was to ensure that those with only the Free Trading View account could benefit (with their restriction to 3 indicators). Please ensure you install each indicator and read each indicator write up to fully understand what has tried to achieved.
Chart Champions – Part 1 –Lvls nPOC VWAPS
This indicator is broken down into:
• Levels
• VWAPS
• Naked Point of Control
Levels
It displays the levels to the right of the price Axis to enable the user to have a cleaner chart.
The below levels will automatically appear:
dOpen – pdHigh – pdLow – pdEQ – pwEQ
Optional Levels include:
mOpen – pmOpen – pdOpen – dbyOpen – wOpen – pwOpen
VWAPs
Optional VWAPs
Daily (including pdVWAP close) – Weekly – Monthly
Naked Points of Control (nPOC)
To view the nPOC move the chart back in time to pick up the nPOCs.
Chart Champions – Part 2 – CCV IBs POC
This indicator is broken down into:
• Chart Champions Value
• Initial Balance
• Points of Control
Chart Champions Value (CCV)
CCV is based on the 80% rule of the dOpen opening outside of the pdVAH/pdVAL. Please do you own research to fully understand how this trading strategy works (readily avaliable online).
Initial Balance (IB)
IB is based on the first 60 minutes of the market opening. It captures the highest and lowest points within that 60 minutes. Please do you own research to fully understand how this trading strategy works (readily avaliable online).
Points of Control (POCs)
POC are the price levels where the most volume was traded.
Developing POC (dPOC) will constantly move with volume/price action through out the day.
Optional POCs
Previous Day POC (pdPOC) – Day Before Yesterday POC (dbyPOC)
Chart Champions – Part 3 – Sessions - Manual Input
This indicator is broken down into:
• Manual Inputs (daily, weekly, monthly)
• IGOR SessionsTtimes
• Pre + Market Openings
Manual Input
Daily x3
Weekly x 3
Monthly x 3
This allows the trader to put in specific levels.
IGOR Session Times
This is a user specific requirement to highlight cetain times during the day, displayed at the bottom of the chart in the colour strip.
Pre + Market Openings
This allows the user to see when pre market trading has started and with the live maket has started, displayed at the top of the chart in colours.
A huge thank you goes out to:
Stackoverflow users AnyDozer and Bjorn.
TV user ahancock for allow me use of this code.
Disclaimer the lower the timeframe the more information it processes.
This indicator has been created as a suite of 3. This was to ensure that those with only the Free Trading View account could benefit (with their restriction to 3 indicators). Please ensure you install each indicator and read each indicator write up to fully understand what has tried to achieved.
Chart Champions – Part 1 –Lvls nPOC VWAPS
This indicator is broken down into:
• Levels
• VWAPS
• Naked Point of Control
Levels
It displays the levels to the right of the price Axis to enable the user to have a cleaner chart.
The below levels will automatically appear:
dOpen – pdHigh – pdLow – pdEQ – pwEQ
Optional Levels include:
mOpen – pmOpen – pdOpen – dbyOpen – wOpen – pwOpen
VWAPs
Optional VWAPs
Daily (including pdVWAP close) – Weekly – Monthly
Naked Points of Control (nPOC)
To view the nPOC move the chart back in time to pick up the nPOCs.
Chart Champions – Part 2 – CCV IBs POC
This indicator is broken down into:
• Chart Champions Value
• Initial Balance
• Points of Control
Chart Champions Value (CCV)
CCV is based on the 80% rule of the dOpen opening outside of the pdVAH/pdVAL. Please do you own research to fully understand how this trading strategy works (readily avaliable online).
Initial Balance (IB)
IB is based on the first 60 minutes of the market opening. It captures the highest and lowest points within that 60 minutes. Please do you own research to fully understand how this trading strategy works (readily avaliable online).
Points of Control (POCs)
POC are the price levels where the most volume was traded.
Developing POC (dPOC) will constantly move with volume/price action through out the day.
Optional POCs
Previous Day POC (pdPOC) – Day Before Yesterday POC (dbyPOC)
Chart Champions – Part 3 – Sessions - Manual Input
This indicator is broken down into:
• Manual Inputs (daily, weekly, monthly)
• IGOR SessionsTtimes
• Pre + Market Openings
Manual Input
Daily x3
Weekly x 3
Monthly x 3
This allows the trader to put in specific levels.
IGOR Session Times
This is a user specific requirement to highlight cetain times during the day, displayed at the bottom of the chart in the colour strip.
Pre + Market Openings
This allows the user to see when pre market trading has started and with the live maket has started, displayed at the top of the chart in colours.
A huge thank you goes out to:
Stackoverflow users AnyDozer and Bjorn.
TV user ahancock for allow me use of this code.
Disclaimer the lower the timeframe the more information it processes.
Notas de prensa:
Update to script as forgot to include to delete label function.
Notas de prensa:
IMPORTANT NOTICE - Use Standard Candles
I have had a couple of users contact me reference to differences in dOpen.
This issue was because they were using Heikin Ashi candles (which are none standard)
Heikin Ashi candles
The open for each candle is the average of the previous HA bar’s open and close prices. So will display an un-true daily Open compare to Standard Candles.
-------------------
I am currently working in the background on other tweaks the users have suggest and highlighted there will be some updates coming soon.
I have had a couple of users contact me reference to differences in dOpen.
This issue was because they were using Heikin Ashi candles (which are none standard)
Heikin Ashi candles
The open for each candle is the average of the previous HA bar’s open and close prices. So will display an un-true daily Open compare to Standard Candles.
-------------------
I am currently working in the background on other tweaks the users have suggest and highlighted there will be some updates coming soon.
Notas de prensa:
CCV Update information
Within the write up I mention that the lower the timeframe the more information it is provided to process.
I have had a couple of users contact me reference how some of the levels are different compared to another platform (TV rules say I cant mention third parties).
After doing some tests with the users, using inbuilt TV Session Volume Indicator (settings Row size 500, VA 70) we noticed that changing time frames changed the VA and POC similar to this indicator.
So the out come was to check if CCV is in play or get the most accurate values for pdVAL/pdVAH/POCs please check the 1m TF.
I have done the best at what I know (hopefully in the future I might be able to get a better resolution).
Please see below results from the 1m TF in comparison to the third party platform:
They are pretty close:
Within the write up I mention that the lower the timeframe the more information it is provided to process.
I have had a couple of users contact me reference how some of the levels are different compared to another platform (TV rules say I cant mention third parties).
After doing some tests with the users, using inbuilt TV Session Volume Indicator (settings Row size 500, VA 70) we noticed that changing time frames changed the VA and POC similar to this indicator.
So the out come was to check if CCV is in play or get the most accurate values for pdVAL/pdVAH/POCs please check the 1m TF.
I have done the best at what I know (hopefully in the future I might be able to get a better resolution).
Please see below results from the 1m TF in comparison to the third party platform:
They are pretty close:
Notas de prensa:
Deletion of label error on Line 53 corrected. (Thank you to the user that Direct Messaged (DM) me).
Any suggestions/improvements please drop me a DM.
Any suggestions/improvements please drop me a DM.
Notas de prensa:
User requested to have the option of plain text (no label).
To use the No Label function go to the Settings and click "No Label".
To use the No Label function go to the Settings and click "No Label".
Notas de prensa:
User update request:
Request to have have Developing POC (dPOC) as optional (now can be selected as a tick on off within settings).
Request to have have Developing POC (dPOC) as optional (now can be selected as a tick on off within settings).
Notas de prensa:
At user request in the comments below.
User requested for there to be an option of automatic resolution but also manual.
After back testing this it works on a majority of symbols using automatic. This means that you can switch between symbols without having to change the resolution.
There are however instances where this does not work such as BTCUSDT Binance, here the user can switch to using manual.
After looking into why BTCUSDT Binance times out this is due to taking too long to complete the calculations (the user can switch to manual and input 0.5). As the auto uses minitick, the minitick for BTCUSDT Binance is 0.01 and the large amount of volume on that symbol seems to create this error.
User requested for there to be an option of automatic resolution but also manual.
After back testing this it works on a majority of symbols using automatic. This means that you can switch between symbols without having to change the resolution.
There are however instances where this does not work such as BTCUSDT Binance, here the user can switch to using manual.
After looking into why BTCUSDT Binance times out this is due to taking too long to complete the calculations (the user can switch to manual and input 0.5). As the auto uses minitick, the minitick for BTCUSDT Binance is 0.01 and the large amount of volume on that symbol seems to create this error.
Notas de prensa:
Forgot to group the manual resolution below the auto resolution.