Strong Support and Resistance with EMAs @viniciushadek
### Strategy for Using Continuity Points with 20 and 9 Period Exponential Moving Averages, and Support and Resistance
This strategy involves using two exponential moving averages (EMA) - one with a 20-period and another with a 9-period - along with identifying support and resistance levels on the chart. Combining these tools can help determine trend continuation points and potential entry and exit points in market operations.
### 1. Setting Up the Exponential Moving Averages
- **20-Period EMA**: This moving average provides a medium-term trend view. It helps smooth out price fluctuations and identify the overall market direction.
- **9-Period EMA**: This moving average is more sensitive and reacts more quickly to price changes, providing short-term signals.
### 2. Identifying Support and Resistance
- **Support**: Price levels where demand is strong enough to prevent the price from falling further. These levels are identified based on previous lows.
- **Resistance**: Price levels where supply is strong enough to prevent the price from rising further. These levels are identified based on previous highs.
### 3. Continuity Points
The strategy focuses on identifying trend continuation points using the interaction between the EMAs and the support and resistance levels.
### 4. Buy Signals
- When the 9-period EMA crosses above the 20-period EMA.
- Confirm the entry if the price is near a support level or breaking through a resistance level.
### 5. Sell Signals
- When the 9-period EMA crosses below the 20-period EMA.
- Confirm the exit if the price is near a resistance level or breaking through a support level.
### 6. Risk Management
- Use appropriate stops below identified supports for buy operations.
- Use appropriate stops above identified resistances for sell operations.
### 7. Validating the Trend
- Check if the trend is validated by other technical indicators, such as the Relative Strength Index (RSI) or Volume.
### Conclusion
This strategy uses the combination of exponential moving averages and support and resistance levels to identify continuity points in the market trend. It is crucial to confirm the signals with other technical analysis tools and maintain proper risk management to maximize results and minimize losses.
Implementing this approach can provide a clearer view of market movements and help make more informed trading decisions.
Ciclos
Prometheus Analytics Hurst ExponentThis indicator uses market data to calculate the Hurst Exponent so traders can have knowledge of the long memory of the asset.
Users can control the lookback length for the H value (Hurst Exponent), lookback length for the SMA (Simple Moving Average) of the Hurst Exponent, to show either, and what to calculate the H value and SMA on.
Hurst Exponent:
The Hurst Exponent is a value between 0 and 1 with 0.5 as a midline.
An H value(Hurst Exponent) above 0.5 indicates a trending market, and a market that should have larger, longer moves.
An H value below 0.5 indicates a mean reverting market, and a market that should have smaller, shorter moves.
An H value of0.5 indicates a random walk. This would mean the price would follow a Brownian Motion model and future prices would be independent from past prices.
Just because the H value is above 0.5 does not indicate that there should be an UP trend, just as a value below 0.5 does not indicate a DOWN trend. It indicates that there should be a trend, up or down.
Scenarios:
An intuitive way to use the Hurst Exponent is as an asset is trending in whatever direction, as the H value crosses below 0.5 it indicates a reversal. It indicates that what was happening before isn’t impacting what is happening now as much.
Steps explained from picture:
Step 1: Strong uptrend is identified with the asset moving up aggressively with H above 0.5.
Step 2: The H value crosses below 0.5 and prices stay elevated.
Step 3: Price reverts back down as the H value stays below 0.5
Just because the H value is above 0.5 doesn’t mean the asset has to be uptrending. In this example we see the asset fall as the H value is above 0.5. Not only that, but every time it crosses below 0.5, the asset takes a breather on the way down
Step 1: As the H value crosses above 0.5, we can expect trends to appear in the asset.
Step 2: After the trend switches to down, we only see a breather and some chop after the H value crosses back below 0.5.
Step 3: Once The H value crosses back over we see the downtrend continue and new lows be made.
Step 4: We see it once again, simply the area of chop is bigger. We don’t see a higher high, breaking the overall downtrend, but once the H value crosses over again the downturn continues and we see a lower low.
It may occur when no strong trend is made in either direction. The H value above 0.5 does indeed sometimes correlate with an uptrend sometimes.
Step 1: After the strong downtrend we see a break below 0.5 with some consolidation.
Step 2: No clear big move on the asset or H value.
Step 3: H value above 0.5 leads to a break of highs and a new uptrend.
Users have the option to decide what to calculate the H value on. Close is the default, or dollar return per bar are the options. Dollar return per bar and offer an H value that may give a better indication of when price moves will be small and sporadic.
Using dollar move per bar.
Step 1: H value cross above 0.5, we see large candles and fast moves.
Step 2: H value crosses below 0.5, the candles immediately following are shorter. The big red candles come right before the cross back above.
Step 3: H value cross back above 0.5, after some chop, large move down.
Similar story
Step 1: H value above 0.5, big trends either direction
Step 2: After the H value crosses below, the moves are short and choppy.
Settings:
Options to show or remove either the H value or it’s SMA.
Options to adjust the period uses, default is (32, 16)
Master Accumulation Weekly Buy SignalsMaster Accumulation Weekly Buy Signals
The Master Accumulation Weekly Buy Signals indicator is designed to help traders identify potential buy opportunities based on the accumulation and distribution of volume, with a primary focus on weekly timeframes. This indicator combines the On Balance Volume (OBV) and the Accumulation/Distribution (AD) indicators to generate buy signals when both metrics show a decline.
Key Features:
Percentage Change Calculation: Calculates the percentage change in OBV and AD over a specified length tailored to weekly timeframes.
Timeframe Adaptability: While optimized for weekly timeframes, the indicator can also adjust to daily and monthly charts.
Volume Validation: Ensures that volume data is available and valid for accurate calculations.
Buy Signals: Generates buy signals when both OBV and AD percentage changes are negative, indicating potential accumulation by informed traders.
Visual Alerts: Plots buy signal triangles below the price bars on the main chart for easy identification.
How It Works:
On Balance Volume (OBV): Tracks the cumulative volume, considering the direction of price changes, and calculates the percentage change over the specified period, primarily for weekly analysis.
Accumulation/Distribution (AD): Measures the flow of volume into or out of a security, considering the relationship between the closing price and the high-low range, and calculates the percentage change over the specified period, primarily for weekly analysis.
Buy Signal Generation: A buy signal is generated when both OBV and AD show a negative percentage change, suggesting a potential buying opportunity.
How to Use:
Apply the indicator to your chart and select the weekly timeframe for optimal performance.
Look for buy signal triangles that appear below the price bars on the main chart.
Use the buy signals as part of your broader trading strategy, confirming them with other technical analysis tools and indicators.
Important Note:
This indicator is a tool to assist in identifying potential buy signals based on volume accumulation patterns. It is primarily designed for weekly timeframes and should not be used as a standalone trading strategy. Always perform comprehensive analysis and consider risk management practices before making any trading decisions.
This description highlights the indicator's primary focus on weekly timeframes while providing comprehensive information about its features and usage.
THIS IS TEST ONLY*******
Rolling Correlation with Bitcoin V1.1 [ADRIDEM]Overview
The Rolling Correlation with Bitcoin script is designed to offer a comprehensive view of the correlation between the selected ticker and Bitcoin. This script helps investors understand the relationship between the performance of the current ticker and Bitcoin over a rolling period, providing insights into their interconnected behavior. Below is a detailed presentation of the script and its unique features.
Unique Features of the New Script
Bitcoin Comparison : Allows users to compare the correlation of the current ticker with Bitcoin, providing an analysis of their relationship.
Customizable Rolling Window : Enables users to set the length for the rolling window, adapting to different market conditions and timeframes. The default value is 252 bars, which approximates one year of trading days, but it can be adjusted as needed.
Smoothing Option : Includes an option to apply a smoothing simple moving average (SMA) to the correlation coefficient, helping to reduce noise and highlight trends. The smoothing length is customizable, with a default value of 4 bars.
Visual Indicators : Plots the smoothed correlation coefficient between the current ticker and Bitcoin, with distinct colors for easy interpretation. Additionally, horizontal lines help identify key levels of correlation.
Dynamic Background Color : Adds dynamic background colors to highlight areas of strong positive and negative correlations, enhancing visual clarity.
Originality and Usefulness
This script uniquely combines the analysis of rolling correlation for a current ticker with Bitcoin, providing a comparative view of their relationship. The inclusion of a customizable rolling window and smoothing option enhances its adaptability and usefulness in various market conditions.
Signal Description
The script includes several features that highlight potential insights into the correlation between the assets:
Rolling Correlation with Bitcoin : Plotted as a red line, this represents the smoothed rolling correlation coefficient between the current ticker and Bitcoin.
Horizontal Lines and Background Color : Lines at -0.5, 0, and 0.5 help to quickly identify regions of strong negative, weak, and strong positive correlations.
These features assist in identifying the strength and direction of the relationship between the current ticker and Bitcoin.
Detailed Description
Input Variables
Length for Rolling Window (`length`) : Defines the range for calculating the rolling correlation coefficient. Default is 252.
Smoothing Length (`smoothing_length`) : The number of periods for the smoothing SMA. Default is 4.
Bitcoin Ticker (`bitcoin_ticker`) : The ticker symbol for Bitcoin. Default is "BINANCE:BTCUSDT".
Functionality
Correlation Calculation : The script calculates the daily returns for both Bitcoin and the current ticker and computes their rolling correlation coefficient.
```pine
bitcoin_close = request.security(bitcoin_ticker, timeframe.period, close)
bitcoin_dailyReturn = ta.change(bitcoin_close) / bitcoin_close
current_dailyReturn = ta.change(close) / close
rolling_correlation = ta.correlation(current_dailyReturn, bitcoin_dailyReturn, length)
```
Smoothing : A simple moving average is applied to the rolling correlation coefficient to smooth the data.
```pine
smoothed_correlation = ta.sma(rolling_correlation, smoothing_length)
```
Plotting : The script plots the smoothed rolling correlation coefficient and includes horizontal lines for key levels.
```pine
plot(smoothed_correlation, title="Rolling Correlation with Bitcoin", color=color.rgb(255, 82, 82, 50), linewidth=2)
h_neg1 = hline(-1, "-1 Line", color=color.gray)
h_neg05 = hline(-0.5, "-0.5 Line", color=color.red)
h0 = hline(0, "Zero Line", color=color.gray)
h_pos05 = hline(0.5, "0.5 Line", color=color.green)
h1 = hline(1, "1 Line", color=color.gray)
fill(h_neg1, h_neg05, color=color.rgb(255, 0, 0, 90), title="Strong Negative Correlation Background")
fill(h_neg05, h0, color=color.rgb(255, 165, 0, 90), title="Weak Negative Correlation Background")
fill(h0, h_pos05, color=color.rgb(255, 255, 0, 90), title="Weak Positive Correlation Background")
fill(h_pos05, h1, color=color.rgb(0, 255, 0, 90), title="Strong Positive Correlation Background")
```
How to Use
Configuring Inputs : Adjust the rolling window length and smoothing length as needed. Ensure the Bitcoin ticker is set to the desired asset for comparison.
Interpreting the Indicator : Use the plotted correlation coefficient and horizontal lines to assess the strength and direction of the relationship between the current ticker and Bitcoin.
Signal Confirmation : Look for periods of strong positive or negative correlation to identify potential co-movements or divergences. The background colors help to highlight these key levels.
This script provides a detailed comparative view of the correlation between the current ticker and Bitcoin, aiding in more informed decision-making by highlighting the strength and direction of their relationship.
Sessions [UkutaLabs]█ OVERVIEW
Sessions is a trading toolkit that displays the different trading sessions on your chart during a trading day. By default, Sessions displays the four standard trading sessions; New York, Tokyo, London, and Sydney.
Each of the four sessions can be toggled, and the Sessions indicator is completely customizable, allowing users to define their own sessions to be generated by the script.
The aim of this script is to improve the trading experience of users by automatically displaying information about each default or custom session to the user.
█ USAGE
This script will automatically detect and label different market sessions. By default, the script will identify the four standard trading sessions, but each of these can be toggled off in the settings.
However, users are not limited to these four trading sessions and have the ability to define their own sessions to be identified by the script. When a session begins, the script will automatically start outlining the market data of that session, including the high and low of the period that is represented by the session.
If the market is within two or more sessions at the same time, then each session will be treated individually and will overlap with each other.
The sessions will be identified as a colored box surrounding the market data of the period that it represents, and a label will be displayed above the box to identify the session that it represents. The label, color and period of each session is completely customizable.
The user can also adjust all sessions at once to account for timezones in the settings.
█ SETTINGS
Session 1
• Session 1: Determines whether or not this session will be drawn by the script.
• A string field to determine the name of the session that will be displayed above the session range.
• Two time fields representing the start and finish of the session.
• A color field to determine the color of the range and label.
Session 2
• Session 2: Determines whether or not this session will be drawn by the script.
• A string field to determine the name of the session that will be displayed above the session range.
• Two time fields representing the start and finish of the session.
• A color field to determine the color of the range and label.
Session 3
• Session 3: Determines whether or not this session will be drawn by the script.
• A string field to determine the name of the session that will be displayed above the session range.
• Two time fields representing the start and finish of the session.
• A color field to determine the color of the range and label.
Session 4
• Session 4: Determines whether or not this session will be drawn by the script.
• A string field to determine the name of the session that will be displayed above the session range.
• Two time fields representing the start and finish of the session.
• A color field to determine the color of the range and label.
Time Zones
• UTC +/-: Determines the offset of each session. Enter - before the number to represent a negative offset.
High Probability OS/OB {DCAquant}DCAquant - High Probability OS/OB
The DCAquant - High Probability OS/OB Pine Script is a sophisticated indicator that provides insights into overbought (OB) and oversold (OS) conditions based on Hull Moving Averages (HMA) and Volume Weighted Moving Averages (VWMA). Here's a detailed breakdown of its functionality:
-------------------------------------------------------------------------------------
THIS INDICATOR IS ONLY WRITTEN FOR BTC, ETH and TOTAL!!!!!!!!!!!!!
-------------------------------------------------------------------------------------
Functionality
The script identifies high-probability OB and OS zones by combining multiple moving averages (MAs).
1. Volume Weighted Moving Average (VWMA)
The VWMA function computes the VWMA over a specified length, incorporating both the price and volume.
2. Hull Moving Average with Volume Weight (HMA-VW)
The hullma_vw function calculates the HMA using the VWMA. This involves:
Computing VWMAs over the full length and half-length.
Using these VWMAs to derive the HMA-VW through a weighted approach.
5. Standard Hull Moving Average (HMA)
The hull function computes the HMA using the standard weighted moving average (WMA).
4. Smoothed HMA-VW
This is an Exponential Moving Average (EMA) of the HMA-VW to smooth out short-term fluctuations.
How this works
First, the distance between the 2 MA's is calculated.
The distance is scored against the average price of the last 100 days.
By getting this score we can calculate extremes
The Extremes are categorized into 4 levels. The transparency of the background color distinguishes these 4 levels.
Only the MOST extremes are plotted ON THE CHART. Within the indicator, all 4 levels are plotted.
Usage
Extreme Buy zone: Consider entering the market when the indicator shows deep negative values (oversold). These are highlighted with a cyan background, with increasing opacity indicating stronger buy signals (Level 4 Zones).
Extreme Sell Zone: Consider exiting the market when the indicator shows high positive values (overbought). These are highlighted with a magenta background, with increasing opacity indicating stronger sell signals (Level 4 Zones).
Disclaimer
This indicator should not be used in isolation. It is recommended to use this as part of a systematic approach, incorporating other tools and analysis methods to confirm signals and make well-informed trading decisions.
Persistent Homology Based Trend Strength OscillatorPersistent Homology Based Trend Strength Oscillator
The Persistent Homology Based Trend Strength Oscillator is a unique and powerful tool designed to measure the persistence of market trends over a specified rolling window. By applying the principles of persistent homology, this indicator provides traders with valuable insights into the strength and stability of uptrends and downtrends, helping to inform better trading decisions.
What Makes This Indicator Original?
This indicator's originality lies in its application of persistent homology , a method from topological data analysis, to financial markets. Persistent homology examines the shape and features of data across multiple scales, identifying patterns that persist as the scale changes. By adapting this concept, the oscillator tracks the persistence of uptrends and downtrends in price data, offering a novel approach to trend analysis.
Concepts Underlying the Calculations:
Persistent Homology: This method identifies features such as clusters, holes, and voids that persist as the scale changes. In the context of this indicator, it tracks the duration and stability of price trends.
Rolling Window Analysis: The oscillator uses a specified window size to calculate the average length of uptrends and downtrends, providing a dynamic view of trend persistence over time.
Threshold-Based Trend Identification: It differentiates between uptrends and downtrends based on specified thresholds for price changes, ensuring precision in trend detection.
How It Works:
The oscillator monitors consecutive changes in closing prices to identify uptrends and downtrends.
An uptrend is detected when the closing price increase exceeds a specified positive threshold.
A downtrend is detected when the closing price decrease exceeds a specified negative threshold.
The lengths of these trends are recorded and averaged over the chosen window size.
The Trend Persistence Index is calculated as the difference between the average uptrend length and the average downtrend length, providing a measure of trend persistence.
How Traders Can Use It:
Identify Trend Strength: The Trend Persistence Index offers a clear measure of the strength and stability of uptrends and downtrends. A higher value indicates stronger and more persistent uptrends, while a lower value suggests stronger and more persistent downtrends.
Spot Trend Reversals: Significant shifts in the Trend Persistence Index can signal potential trend reversals. For instance, a transition from positive to negative values might indicate a shift from an uptrend to a downtrend.
Confirm Trends: Use the Trend Persistence Index alongside other technical indicators to confirm the strength and duration of trends, enhancing the accuracy of your trading signals.
Manage Risk: Understanding trend persistence can help traders manage risk by identifying periods of high trend stability versus periods of potential volatility. This can be crucial for timing entries and exits.
Example Usage:
Default Settings: Start with the default settings to get a feel for the oscillator’s behavior. Observe how the Trend Persistence Index reacts to different market conditions.
Adjust Thresholds: Fine-tune the positive and negative thresholds based on the asset's volatility to improve trend detection accuracy.
Combine with Other Indicators: Use the Persistent Homology Based Trend Strength Oscillator in conjunction with other technical indicators such as moving averages, RSI, or MACD for a comprehensive analysis.
Backtesting: Conduct backtesting to see how the oscillator would have performed in past market conditions, helping you to refine your trading strategy.
Smart Money Analysis with Golden/Death Cross [YourTradingSensei]Description of the script "Smart Money Analysis with Golden/Death Cross":
This TradingView script is designed for market analysis based on the concept of "Smart Money" and includes the detection of Golden Cross and Death Cross signals.
Key features of the script:
Moving Averages (SMA):
Two moving averages are calculated: a short-term (50 periods) and a long-term (200 periods).
The intersections of these moving averages are used to determine Golden Cross and Death Cross signals.
High Volume:
The current trading volume is analyzed.
Periods of high volume are identified when the current volume exceeds the average volume by a specified multiplier.
Support and Resistance Levels:
Key support and resistance levels are determined based on the highest and lowest prices over a specified period.
Buy and Sell Signals:
Buy and sell signals are generated based on moving average crossovers, high volume, and the closing price relative to key levels.
Golden Cross and Death Cross:
A Golden Cross occurs when the short-term moving average crosses above the long-term moving average.
A Death Cross occurs when the short-term moving average crosses below the long-term moving average.
These signals are displayed on the chart with text color changes for better visualization.
Using the script:
The script helps traders visualize key signals and levels, aiding in making informed trading decisions based on the behavior of major market players and technical analysis.
Custom candle lighting(CCL) © 2024 by YourTradingSensei is licensed under CC BY-NC-SA 4.0. To view a copy of this license.
ATH/ATL Tracker [LuxAlgo]The ATH/ATL Tracker effectively displays changes made between new All-Time Highs (ATH)/All-Time Lows (ATL) and their previous respective values, over the entire history of available data.
The indicator shows a histogram of the change between a new ATH/ATL and its respective preceding ATH/ATL. A tooltip showing the price made during a new ATH/ATL alongside its date is included.
🔶 USAGE
By tracking the change between new ATHs/ATLs and older ATHs/ATLs, traders can gain insight into market sentiment, breadth, and rotation.
If many stocks are consistently setting new ATHs and the number of new ATHs is increasing relative to old ATHs, it could indicate broad market participation in a rally. If only a few stocks are reaching new ATHs or the number is declining, it might signal that the market's upward momentum is decreasing.
A significant increase in new ATHs suggests optimism and willingness among investors to buy at higher prices, which could be considered a positive sentiment. On the other hand, a decrease or lack of new ATHs might indicate caution or pessimism.
By observing the sectors where stocks are consistently setting new ATHs, users can identify which sectors are leading the market. Sectors with few or no new ATHs may be losing momentum and could be identified as lagging behind the overall market sentiment.
🔶 DETAILS
The indicator's main display is a histogram-style readout that displays the change in price from older ATH/ATLs to Newer/Current ATH/ATLs. This change is determined by the distance that the current values have overtaken the previous values, resulting in the displayed data.
The largest changes in ATH/ATLs from the ticker's history will appear as the largest bars in the display.
The most recent bars (depending on the selected display setting) will always represent the current ATH or ATL values.
When determining ATH & ATL values, it is important to filter out insignificant highs and lows that may happen constantly when exploring higher and lower prices. To combat this, the indicator looks to a higher timeframe than your chart's timeframe in order to determine these more significant ATHs & ATLs.
For Example: If a user was on a 1-minute chart and 5 highs-new highs occur across 5 adjacent bars, this has the potential to show up as 5 new ATHs. When looking at a higher timeframe, 5 minutes, only the highest of the 5 bars will indicate a new ATH. To assist with this, the indicator will display warnings in the dashboard when a suboptimal timeframe is selected as input.
🔹 Dashboard
The dashboard displays averages from the ATH/ATL data to aid in the anticipation and expectations for new ATH/ATLs.
The average duration is an average of the time between each new ATH/ATL, in this indicator it is calculated in "Days" to provide a more comprehensive understanding.
The average change is the average of all change data displayed in the histogram.
🔶 SETTINGS
Duration: The designated higher timeframe to use for filtering out insignificant ATHs & ATLs.
Order: The display order for the ATH/ATL Bars, Options are to display in chronological (oldest to newest) or reverse chronological order (newest to oldest).
Bar Width: Sets the width for each ATH/ATL bar.
Bar Spacing: Sets the # of empty bars in between each ATH/ATL bar.
Dashboard Settings: Parameters for the dashboard's size and location on the chart.
Chuck Dukas Market Phases of Trends (based on 2 Moving Averages)This script is based on the article “Defining The Bull And The Bear” by Chuck Duckas, published in Stocks & Commodities V. 25:13 (14-22); (S&C Bonus Issue, 2007).
The article “Defining The Bull And The Bear” discusses the concepts of “bullish” and “bearish” in relation to the price behavior of financial instruments. Chuck Dukas explains the importance of analyzing price trends and provides a framework for categorizing price activity into six phases. These phases, including recovery, accumulation, bullish, warning, distribution, and bearish, help to assess the quality of the price structure and guide decision-making in trading. Moving averages are used as tools for determining the context preceding the current price action, and the slope of a moving average is seen as an indicator of trend and price phase analysis.
The six phases of trends
// Definitions of Market Phases
recovery_phase = src > ma050 and src < ma200 and ma050 < ma200 // color: blue
accumulation_phase = src > ma050 and src > ma200 and ma050 < ma200 // color: purple
bullish_phase = src > ma050 and src > ma200 and ma050 > ma200 // color: green
warning_phase = src < ma050 and src > ma200 and ma050 > ma200 // color: yellow
distribution_phase = src < ma050 and src < ma200 and ma050 > ma200 // color: orange
bearish_phase = src < ma050 and src < ma200 and ma050 < ma200 // color red
Recovery Phase : This phase marks the beginning of a new trend after a period of consolidation or downtrend. It is characterized by the gradual increase in prices as the market starts to recover from previous losses.
Accumulation Phase : In this phase, the market continues to build a base as prices stabilize before making a significant move. It is a period of consolidation where buying and selling are balanced.
Bullish Phase : The bullish phase indicates a strong upward trend in prices with higher highs and higher lows. It is a period of optimism and positive sentiment in the market.
Warning Phase : This phase occurs when the bullish trend starts to show signs of weakness or exhaustion. It serves as a cautionary signal to traders and investors that a potential reversal or correction may be imminent.
Distribution Phase : The distribution phase is characterized by the market topping out as selling pressure increases. It is a period where supply exceeds demand, leading to a potential shift in trend direction.
Bearish Phase : The bearish phase signifies a strong downward trend in prices with lower lows and lower highs. It is a period of pessimism and negative sentiment in the market.
These rules of the six phases outline the cyclical nature of market trends and provide traders with a framework for understanding and analyzing price behavior to make informed trading decisions based on the current market phase.
60-period channel
The 60-period channel should be applied differently in each phase of the market cycle.
Recovery Phase : In this phase, the 60-period channel can help identify the beginning of a potential uptrend as price stabilizes or improves. Traders can look for new highs frequently in the 60-period channel to confirm the trend initiation or continuation.
Accumulation Phase : During the accumulation phase, the 60-period channel can highlight that the current price is sufficiently strong to be above recent price and longer-term price. Traders may observe new highs frequently in the 60-period channel as the slope of the 50-period moving average (SMA) trends upwards while the 200-period moving average (SMA) slope is losing its downward slope.
Bullish Phase : In the bullish phase, the 60-period channel showing a series of higher highs is crucial for confirming the uptrend. Additionally, traders should observe an upward-sloping 50-period SMA above an upward-sloping 200-period SMA for further validation of the bullish phase.
Warning Phase : When in the warning phase, the 60-period channel can provide insights into whether the current price is weaker than recent prices. Traders should pay attention to the relationship between the price close, the 50-period SMA, and the 200-period SMA to gauge the strength of the phase.
Distribution Phase : In the distribution phase, traders should look for new lows frequently in the 60-period channel, hinting at a weakening trend. It is crucial to observe that the 50-period SMA is still above the 200-period SMA in this phase.
Bearish Phase : Lastly, in the bearish phase, the 60-period channel reflecting a series of lower lows confirms the downtrend. Traders should also note that the price close is below both the 50-period SMA and the 200-period SMA, with the relationship of the 50-period SMA being less than the 200-period SMA.
By carefully analyzing the 60-period channel in each phase, traders can better understand market trends and make informed decisions regarding their investments.
Advanced Awesome Oscillator [CryptoSea]Advanced AO Analysis Indicator
The Advanced AO Analysis indicator is a sophisticated tool designed to evaluate the Awesome Oscillator (AO) in search of regular and hidden divergences that signal potential price reversals. By tracking the intensity and duration of the AO's movements, this indicator aids traders in pinpointing critical points in price action.
Key Features
Divergence Detection: Identifies both regular and hidden bullish and bearish divergences, providing early signs of potential market reversals.
Customizable Lookback Periods: Allows users to set specific lookback windows to define the strength and relevance of detected divergences.
Adaptive Oscillator Display: Features customizable display options for the AO, enabling users to view data in different modes suited to their analysis needs.
Alert System: Includes configurable alerts to notify users of potential divergence formations, helping traders respond promptly.
How it Works
AO Calculation: Computes the AO as the difference between short-term and long-term moving averages of the midpoints of bars, highlighting momentum shifts.
Pivot Point Analysis: Utilizes advanced algorithms to find low and high pivot points based on the oscillator values, crucial for spotting trend reversals.
Range Validation: Verifies that divergences occur within a predefined range from pivot points, ensuring their validity and strength.
Visualisation: Plots AO values and potential divergences directly on the chart, aiding in quick visual analysis.
Application
Strategic Decision-Making: Assists traders in making informed decisions by providing detailed analysis of AO movements and divergence.
Trend Confirmation: Reinforces trading strategies by confirming potential reversals with pivot point detection and divergence analysis.
Behavioural Insight: Offers insights into market dynamics and sentiment by analyzing the depth and duration of AO cycles above and below zero.
The Advanced AO Analysis indicator equips traders with a powerful analytical tool for studying the Awesome Oscillator in-depth, enhancing their ability to spot and act on divergence-based trading opportunities in the cryptocurrency markets.
Event on charts**Event on Charts Indicator**
This indicator visually marks significant events on your chart. It is highly customizable, allowing you to activate or deactivate different groups of events and choose whether to display the event text directly on the chart or only when hovered over. Each group of events can be configured with distinct settings such as height mode, color, and label style.
### Key Features:
- **Group Activation:** Enable or disable different groups of events based on your analysis needs.
- **Text Display Options:** Choose to display event texts directly on the chart or only on hover.
- **Customizable Appearance:** Adjust the height mode, offset multiplier, bubble color, text color, and label shape for each group.
- **Predefined Events:** Includes predefined events for major crashes, FED rate changes, SPX tops and bottoms, geopolitical conflicts, economic events, disasters, and significant Bitcoin events.
### Groups Included:
1. **Crash Events:** Marks major market crashes.
2. **FED Rate Events:** Indicates changes in the Federal Reserve rates.
3. **SPX Top Events:** Highlights market tops for the S&P 500.
4. **Geopolitical Conflicts:** Marks significant geopolitical events.
5. **Economic Events:** Highlights important economic events such as bankruptcies and crises.
6. **Disaster and Cyber Events:** Indicates major disasters and cyber attacks.
7. **Bitcoin Events:** Marks significant events in the Bitcoin market.
8. **SPX Bottom Events:** Highlights market bottoms for the S&P 500.
### Usage:
This indicator is useful for traders and analysts who want to keep track of historical events that could impact market behavior. By visualizing these events on the chart, you can better understand market reactions and make informed decisions.
MTF Bollinger BandWidth [CryptoSea]The MTF Bollinger BandWidth Indicator is an advanced analytical tool crafted for traders who need to gauge market volatility and trend strength across multiple timeframes. This powerful indicator leverages the Bollinger BandWidth concept to provide a comprehensive view of price movements and volatility changes, making it ideal for those looking to enhance their trading strategies with multi-timeframe analysis.
Key Features
Multi-Timeframe Analysis: Allows users to monitor Bollinger BandWidth across various timeframes, providing a macro and micro perspective on market volatility.
Pivot Point Detection: Identifies crucial high and low pivot points, offering insights into potential support and resistance levels. Pivot points are dynamic and adjust based on the timeframe viewed, reflecting short-term fluctuations or longer-term trends.
Customizable Parameters: Includes options to adjust the length of the moving average, the standard deviation multiplier, and more, enabling traders to tailor the tool to their specific needs.
Dynamic Color Coding: Utilizes color changes to indicate different market conditions, aiding in quick visual assessments.
In the example below, notice how changes in BBW across different timeframes provide early signals for potential volatility increases or decreases.
How it Works
Calculation of BandWidth: Measures the percentage difference between the upper and lower Bollinger Bands, which expands or contracts based on market volatility.
High and Low Pivot Tracking: Automatically calculates and tracks the pivots in BBW values, which are critical for identifying turning points in market behavior. High and low levels will change depending on the timeframe, capturing distinct market behaviors from granular movements to broad trends.
Visual Alerts and Table Display: Highlights significant changes in BBW with visual alerts and provides a detailed table view for comparison across timeframes.
In the example below, BBW identifies a significant contraction followed by an expansion, suggesting a potential breakout.
Application
Strategic Market Entry and Exit: Assists traders in making well-informed decisions about when to enter and exit trades based on volatility cues.
Trend Strength Assessment: Helps in determining the strength of the prevailing market trend through detailed analysis of expansion and contraction periods.
Adaptable to Various Trading Styles: Suitable for day traders, swing traders, and long-term investors due to its customization capabilities and effectiveness across different timeframes.
The MTF Bollinger BandWidth Indicator is a must-have in the arsenal of traders who demand depth, accuracy, and responsiveness in their market analysis tools. Enhance your trading decisions by integrating this sophisticated indicator into your strategy to navigate the complexities of various market conditions effectively.
Mateo's Time of Day Analysis LEThis strategy takes a trade every day at a specified time and then closes it at a specified time.
The purpose of this strategy is to help determine if there are better times to day to buy or sell.
I was originally inspired to write this when a YouTuber stated that SPX had been up during the last 30 minutes of the day over 80% of the time the past year. No matter who says it, test it, and in my opinion, TradingView is one of the easiest placed to do that! Unfortunately, that particular claim did not turn out to be accurate, but this tool remains for those who want to optimize timing their entries and exits at specific times of day.
FiboSequFiboSequ: Fibonacci Sequence Marking
Leonardo Fibonacci was an Italian mathematician who lived in the 12th century. His real name was Leonardo of Pisa, but he is commonly known as "Fibonacci." Fibonacci is famous for introducing the Hindu-Arabic numeral system to the Western world. This system is the basis of the modern decimal number system we use today.
Fibonacci Sequence
The Fibonacci sequence is a series of numbers that frequently appears in mathematics and nature. The first two numbers in the sequence are 0 and 1, and each subsequent number is the sum of the two preceding numbers.
The sequence is as follows:
0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, 1597, 2584, ...
Fibonacci Time Zones:
Fibonacci time zones are used to identify potential turning points in the market at specific time intervals. These time zones correspond to the Fibonacci sequence in terms of consecutive days or weeks.
The Fibonacci sequence has a wide range of applications in both mathematics and nature. Leonardo Fibonacci's work has had a significant impact on the development of modern mathematics and numeral systems. In financial markets, the Fibonacci sequence and ratios are frequently used by technical analysts to predict and analyze market movements.
Description:
Overview:
The FiboSequ indicator marks significant days on a price chart based on the Fibonacci sequence. This can help traders identify potential turning points or areas of interest in the market. The Fibonacci sequence is a series of numbers where each number is the sum of the two preceding ones, often found in nature and financial markets.
Fibonacci Sequence:
The sequence used in this indicator includes: 1, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, 1597, and 2584.
These numbers represent the days to be marked on the chart, highlighting possible significant market movements.
How It Works:
User Input:
Users can input the starting date (Year, Month, and Day) from which the Fibonacci sequence will begin to be calculated.
This allows flexibility and customization based on the trader's analysis needs.
Calculation:
The starting date is converted into a timestamp in seconds.
For each bar on the chart, the number of days since the starting date is calculated.
The indicator checks if the current day matches any of the Fibonacci sequence days, the previous day, or the next day.
In this indicator, Fibonacci numbers can be displayed on the chart as plus and minus 2 days. For example, for the 145th day, signals start to appear as 143,144 and 145. This is due to dates that sometimes coincide with weekends and public holidays.
Marking the Chart:
When a match is found, a label is placed above the bar indicating the day number from the Fibonacci sequence.
These labels are colored blue with white text for easy visibility.
Usage:
This indicator can be used on any timeframe and market to help identify potential areas where price might react.
It is especially useful for those who employ Fibonacci analysis in their trading strategy.
Example:
If the starting date is January 1, 2020, the indicator will mark significant Fibonacci days (e.g., 1, 3, 5, 8 days, etc.) on the chart from this date onward.
Community Guidelines Compliance:
This indicator adheres to TradingView's Pine Script community guidelines.
It provides customizable user inputs and does not violate any terms of use.
By using the FiboSequ indicator, traders can enhance their technical analysis by incorporating time-based Fibonacci levels, potentially leading to better market timing and decision-making.
Frequently Asked Questions (FAQ)
Q: What is the FiboSequ indicator?
A: The FiboSequ indicator is a technical analysis tool that marks significant days on a price chart based on the Fibonacci sequence. This indicator helps traders identify potential turning points or areas of interest in the market.
Q: What is the Fibonacci sequence and why is it important?
A: The Fibonacci sequence is a series of numbers where each number is the sum of the two preceding ones. The first two numbers are 0 and 1. This sequence frequently appears in nature and financial markets and is used in technical analysis to identify important support and resistance levels.
Q: How do the Fibonacci time zones in the indicator work?
A: Fibonacci time zones are used to identify potential market turning points at specific time intervals. The indicator calculates days based on the Fibonacci sequence (e.g., 1, 3, 5, 8 days, etc.) from the starting date and marks them on the chart.
Q: How can users set the starting date?
A: Users can input the starting date by specifying the year, month, and day. This sets the date from which the indicator begins its calculations, providing flexibility for user analysis.
Q: What do the labels in the indicator represent?
A: The labels mark specific days in the Fibonacci sequence. For example, 1st day, 3rd day, 5th day, etc. These labels are displayed in blue with white text for easy visibility.
Q: Which timeframes can I use the FiboSequ indicator on?
A: The FiboSequ indicator can be used on any timeframe. This includes daily, weekly, or monthly charts, as well as shorter timeframes.
Q: Which markets can the FiboSequ indicator be used in?
A: The FiboSequ indicator can be used in various financial markets, including stocks, forex, cryptocurrencies, commodities, and more.
Q: How can I achieve better market timing with the FiboSequ indicator?
A: The FiboSequ indicator helps identify potential market turning points using time-based Fibonacci levels. This can lead to better market timing and more informed trading decisions for traders.
-Please feel free to write your valuable comments and opinions. I attach importance to your valuable opinions so that I can improve myself.
Bull Market Drawdowns V1.0 [ADRIDEM]Bull Market Drawdowns V1.0
Overview
The Bull Market Drawdowns V1.0 script is designed to help visualize and analyze drawdowns during a bull market. This script calculates the highest high price from a specified start date, identifies drawdown periods, and plots the drawdown areas on the chart. It also highlights the maximum drawdowns and marks the start of the bull market, providing a clear visual representation of market performance and potential risk periods.
Unique Features of the New Script
Default Timeframe Configuration: Allows users to set a default timeframe for analysis, providing flexibility in adapting the script to different trading strategies and market conditions.
Customizable Bull Market Start Date: Users can define the start date of the bull market, ensuring the script calculates drawdowns from a specific point in time that aligns with their analysis.
Drawdown Calculation and Visualization: Calculates drawdowns from the highest high since the bull market start date and plots the drawdown areas on the chart with distinct color fills for easy identification.
Maximum Drawdown Tracking and Labeling: Tracks the maximum drawdown for each period and places labels on the chart to indicate significant drawdowns, helping traders identify and assess periods of higher risk.
Bull Market Start Marker: Marks the start of the bull market on the chart with a label, providing a clear reference point for the beginning of the analysis period.
Originality and Usefulness
This script provides a unique and valuable tool by combining drawdown analysis with visual markers and customizable settings. By calculating and plotting drawdowns from a user-defined start date, traders can better understand the performance and risks associated with a bull market. The script’s ability to track and label maximum drawdowns adds further depth to the analysis, making it easier to identify critical periods of market retracement.
Signal Description
The script includes several key visual elements that enhance its usefulness for traders:
Drawdown Area : Plots the upper and lower boundaries of the drawdown area, filling the space between with a semi-transparent color. This helps traders easily identify periods of market retracement.
Maximum Drawdown Labels : Labels are placed on the chart to indicate the maximum drawdown for each period, providing clear markers for significant drawdowns.
Bull Market Start Marker : A label is placed at the start of the bull market, marking the beginning of the analysis period and helping traders contextualize the drawdown data.
These visual elements help quickly assess the extent and impact of drawdowns within a bull market, aiding in risk management and decision-making.
Detailed Description
Input Variables
Default Timeframe (`default_timeframe`) : Defines the timeframe for the analysis. Default is 720 minutes
Bull Market Start Date (`start_date_input`) : The starting date for the bull market analysis. Default is January 1, 2023
Functionality
Highest High Calculation : The script calculates the highest high price on the specified timeframe from the user-defined start date.
```pine
var float highest_high = na
if (time >= start_date)
highest_high := na(highest_high ) ? high : math.max(highest_high , high)
```
Drawdown Calculation : Determines the drawdown starting point and calculates the drawdown percentage from the highest high.
```pine
var float drawdown_start = na
if (time >= start_date)
drawdown_start := na(drawdown_start ) or high >= highest_high ? high : drawdown_start
drawdown = (drawdown_start - low) / drawdown_start * 100
```
Maximum Drawdown Tracking : Tracks the maximum drawdown for each period and places labels above the highest high when a new high is reached.
```pine
var float max_drawdown = na
var int max_drawdown_bar_index = na
if (time >= start_date)
if na(max_drawdown ) or high >= highest_high
if not na(max_drawdown ) and not na(max_drawdown_bar_index) and max_drawdown > 10
label.new(x=max_drawdown_bar_index, y=drawdown_start , text="Max -" + str.tostring(max_drawdown , "#") + "%",
color=color.red, style=label.style_label_down, textcolor=color.white, size=size.normal)
max_drawdown := 0
max_drawdown_bar_index := na
else
if na(max_drawdown ) or drawdown > max_drawdown
max_drawdown := drawdown
max_drawdown_bar_index := bar_index
```
Drawdown Area Plotting : Plots the drawdown area with upper and lower boundaries and fills the area with a semi-transparent color.
```pine
drawdown_area_upper = time >= start_date ? drawdown_start : na
drawdown_area_lower = time >= start_date ? low : na
p1 = plot(drawdown_area_upper, title="Drawdown Area Upper", color=color.rgb(255, 82, 82, 60), linewidth=1)
p2 = plot(drawdown_area_lower, title="Drawdown Area Lower", color=color.rgb(255, 82, 82, 100), linewidth=1)
fill(p1, p2, color=color.new(color.red, 90), title="Drawdown Fill")
```
Current Maximum Drawdown Label : Places a label on the chart to indicate the current maximum drawdown if it exceeds 10%.
```pine
var label current_max_drawdown_label = na
if (not na(max_drawdown) and max_drawdown > 10)
current_max_drawdown_label := label.new(x=bar_index, y=drawdown_start, text="Max -" + str.tostring(max_drawdown, "#") + "%",
color=color.red, style=label.style_label_down, textcolor=color.white, size=size.normal)
if (not na(current_max_drawdown_label))
label.delete(current_max_drawdown_label )
```
Bull Market Start Marker : Places a label at the start of the bull market to mark the beginning of the analysis period.
```pine
var label bull_market_start_label = na
if (time >= start_date and na(bull_market_start_label))
bull_market_start_label := label.new(x=bar_index, y=high, text="Bull Market Start", color=color.blue, style=label.style_label_up, textcolor=color.white, size=size.normal)
```
How to Use
Configuring Inputs : Adjust the default timeframe and start date for the bull market as needed. This allows the script to be tailored to different market conditions and trading strategies.
Interpreting the Indicator : Use the drawdown areas and labels to identify periods of significant market retracement. Pay attention to the maximum drawdown labels to assess the risk during these periods.
Signal Confirmation : Use the bull market start marker to contextualize drawdown data within the overall market trend. The combination of drawdown visualization and maximum drawdown labels helps in making informed trading decisions.
This script provides a detailed view of drawdowns during a bull market, helping traders make more informed decisions by understanding the extent and impact of market retracements. By combining customizable settings with visual markers and drawdown analysis, traders can better align their strategies with the underlying market conditions, thus improving their risk management and decision-making processes.
D9 IndicatorD9 Indicator
Category
Technical Indicators
Overview
The D9 Indicator is designed to identify potential trend reversals by counting the number of consecutive closes that are higher or lower than the close four bars earlier. This indicator highlights key moments in the price action where a trend might be exhausting and potentially reversing, providing valuable insights for traders.
Features
Up Signal: Plots a downward triangle or a cross above the bar when the count of consecutive closes higher than the close four bars earlier reaches 7, 8, or 9.
Down Signal: Plots an upward triangle or a checkmark below the bar when the count of consecutive closes lower than the close four bars earlier reaches 7, 8, or 9.
Visual Signals
Red Downward Triangle (7): Indicates the seventh consecutive bar with a higher close.
Red Downward Triangle (8): Indicates the eighth consecutive bar with a higher close.
Red Cross (❌): Indicates the ninth consecutive bar with a higher close, suggesting a potential bearish reversal.
Green Upward Triangle (7): Indicates the seventh consecutive bar with a lower close.
Green Upward Triangle (8): Indicates the eighth consecutive bar with a lower close.
Green Checkmark (✅): Indicates the ninth consecutive bar with a lower close, suggesting a potential bullish reversal.
Usage
The D9 Indicator is useful for traders looking for visual cues to identify potential trend exhaustion and reversals. It can be applied to any market and timeframe, providing flexibility in various trading strategies.
How to Read
When a red cross (❌) appears above a bar, it may signal an overextended uptrend and a potential bearish reversal.
When a green checkmark (✅) appears below a bar, it may signal an overextended downtrend and a potential bullish reversal.
Example
When the price has consecutively closed higher than four bars ago for nine bars, a red cross (❌) will appear above the ninth bar. This suggests that the uptrend might be exhausting, and traders could look for potential short opportunities. Conversely, when the price has consecutively closed lower than four bars ago for nine bars, a green checkmark (✅) will appear below the ninth bar, indicating a potential buying opportunity.
Bitcoin Rainbow WaveBitcoin ultimate price model:
1. Power Law + 2. Rainbow Narrowing Bands + 3. Halving Cycle Harmonic Wave + 3. Wave bands
This powerful tool is designed to help traders of all levels understand and navigate the Bitcoin market. It works exclusively with BTC on any timeframe, but looks best on weekly or daily charts. The indicator provides valuable insights into historical price behavior and offers forecasts for the next decade, making it essential for both mid-term and long-term strategies.
How the Model Works
Power Law (Logarithmic Trend) : The green line represents the expected long-term price trajectory of Bitcoin based on a logarithmic regression model (power law). This suggests that Bitcoin's price generally increases as a power of 5.44 over time passed.
Rainbow Chart : Colored bands around the power law trend line illustrate a range of potential price fluctuations. The bands narrow esponentially over time, indicating increasing model accuracy as Bitcoin matures. This chart visually identifies overbought and oversold zones, as well as fair value zones.
Blue Zone : Below the power law trend, indicating an undervalued condition and a potential buying zone.
Green Zone : Around the power law trend, suggesting fair value.
Yellow Zone : Above the power law trend, but within the rainbow bands. Exercise caution, as the price may be overextended.
Red Zone : Far above the power law trend, indicating strong overbought conditions. Consider taking profits or reducing exposure.
Halving Cycle Wave : The fuchsia line represents the cyclical wave component of the model, tied to Bitcoin's halving events (approximately every four years). This wave accounts for the price fluctuations that typically occur around halvings, with price tending to increase leading up to a halving and correct afterwards. The amplitude of the wave decreases over time as the impact of halvings potentially lessens. Additional bands around the wave show the expected range of price fluctuations, aiding traders in making informed decisions.
Customizing Parameters
You can fine-tune the model's appearance by adjusting these input parameters:
show Power Law (true/false): Toggle visibility of the power law trend line.
show Wave (true/false): Toggle visibility of the halving cycle wave.
show Rainbow Chart (true/false): Toggle visibility of the rainbow bands.
show Block Marks (true/false): Toggle visibility of the 70,000 block interval markers.
Using the Model in Your Trading Strategy
Combine this indicator with technical analysis, fundamental analysis, and risk management techniques to develop a comprehensive Bitcoin trading strategy. The model can help you identify potential entry and exit points, assess market sentiment, and manage risk based on Bitcoin's position relative to the power law trend, halving cycle wave, and rainbow chart zones.
PROWIN STUDY BITCOIN DOMINANCE CYCLE**Title: PROWIN STUDY BITCOIN DOMINANCE CYCLE**
**Overview:**
This TradingView script analyzes the relationship between Bitcoin dominance and Bitcoin price movements, as well as the performance of altcoins. It categorizes market conditions into different scenarios based on the movements of Bitcoin dominance and Bitcoin price, and plots the Exponential Moving Average (EMA) of the altcoins index.
**Key Components:**
1. **Bitcoin Dominance:**
- `dominanceBTC`: Fetches the Bitcoin dominance from the "CRYPTOCAP:BTC.D" symbol for the current timeframe.
2. **Bitcoin Price:**
- `priceBTC`: Uses the closing price of Bitcoin from the current chart (assumed to be BTC/USD).
3. **Altcoins Index:**
- `altcoinsIndex`: Fetches the total market cap of altcoins (excluding Bitcoin) from the "CRYPTOCAP:TOTAL2" symbol.
4. **EMA of Altcoins:**
- `emaAltcoins`: Calculates the 20-period Exponential Moving Average (EMA) of the altcoins index.
**Conditions:**
1. **Bitcoin Dominance and Price Up:**
- `dominanceBTC_up`: Bitcoin dominance crosses above its 20-period Simple Moving Average (SMA).
- `priceBTC_up`: Bitcoin price crosses above its 20-period SMA.
2. **Bitcoin Dominance Up and Price Down:**
- `priceBTC_down`: Bitcoin price crosses below its 20-period SMA.
3. **Bitcoin Dominance Up and Price Sideways:**
- `priceBTC_lateral`: Bitcoin price change is less than 5% of its 10-period average change.
4. **Altseason:**
- `altseason_condition`: Bitcoin dominance crosses below its 20-period SMA while Bitcoin price crosses above its 20-period SMA.
5. **Dump:**
- `dump_altcoins_condition`: Bitcoin dominance crosses below its 20-period SMA while Bitcoin price crosses below its 20-period SMA.
6. **Altcoins Up:**
- `altcoins_up_condition`: Bitcoin dominance crosses below its 20-period SMA while Bitcoin price moves sideways.
**Current Condition:**
- Determines the current market condition based on the above scenarios and stores it in the `currentCondition` variable.
**Plotting:**
- Plots the EMA of the altcoins index on the chart in green with a linewidth of 2.
- Displays the current market condition in a table at the top-right of the chart, with appropriate background and text colors.
**Background Color:**
- Sets a semi-transparent blue background color for the chart.
This script helps traders visualize and understand the market dynamics between Bitcoin dominance, Bitcoin price, and altcoin performance, providing insights into different market cycles and potential trading opportunities.
Bitcoin Wave RainbowThis Bitcoin Wave Rainbow model is a powerful tool designed to help traders of all levels understand and navigate the Bitcoin market. It works only with BTC in any timeframe, but better looks in dayly or weekly timeframes. It provides valuable insights into historical price behavior and offers forecasts for the next decade, making it an essential asset for both short-term and long-term strategies.
How the Model Works
The model is built on a logarithmic trend, also known as a power law, represented by the green line on the chart. This line illustrates the expected price trajectory of Bitcoin over time. The model also incorporates a range of price fluctuations around this trend, represented by colored bands.
The width of these bands narrows over time, indicating that the model becomes increasingly accurate as it progresses. This is due to the exponential decrease in the range of price fluctuations, making the model a reliable tool for predicting future price movements.
Understanding the Zones
Blue Zone: This zone signifies that the price is below its trend, making it a recommended area for buying Bitcoin. It represents a level where the price is unlikely to fall further, providing a potential opportunity for accumulation.
Green Zone: This zone represents a fair price range, where the price is relatively close to its trend. In this zone, the price may continue to go up or down, depending on the halving season. ransiting up around any halving and transiting down around 2 years after each halving.
Yellow Zone: This zone indicates that the price is somewhat overheated, often due to the hype following a halving event. While there may still be room for the price to rise, traders should exercise caution in this zone, as a price correction could occur.
Red Zone: This zone represents a strong overbought condition, where the price is significantly above its trend. Traders should be extremely cautious in this zone and consider reducing their positions, as the price is likely to revert back towards the trend or even lower.
Using the Model in Your Trading Strategy
This indicator can be used in conjunction with the Bitcoin Wave Model, which complements it by showing harmonic price fluctuations associated with halving events. Together, these indicators provide a comprehensive view of the Bitcoin market, allowing traders to make informed decisions based on both historical data and future projections.
Benefits for Traders
This Bitcoin price model offers numerous benefits for traders, including:
Clear Visualization: The model provides a clear and concise visual representation of Bitcoin's price behavior, making it easy to understand and interpret.
Accurate Forecasting: The model's accuracy increases over time, providing reliable forecasts for future price movements.
Risk Management: The model helps traders identify overbought and oversold conditions, allowing them to manage their risk more effectively.
Strategic Decision-Making: By understanding the different zones and their implications, traders can make more informed decisions about when to buy, sell, or hold Bitcoin.
By incorporating this Bitcoin price model into your trading strategy, you can gain a deeper understanding of the market dynamics and improve your chances of success.
PROWIN STUDY BASIC CURRENT CANDLE TABLE**PROWIN STUDY BASIC CURRENT CANDLE TABLE**
**Description:**
The PROWIN STUDY BASIC CURRENT CANDLE TABLE indicator provides an insightful analysis of the current candle's volume and its comparative performance against the last 50 candles. This script includes several features designed to help traders understand volume trends and potential market direction.
**Key Features:**
1. **Volume Analysis**:
- Accesses the current candle's volume and compares it with the highest and lowest volumes over the past 50 candles.
- Calculates the average volume between the highest and lowest values for a better perspective.
2. **Candle Trend Identification**:
- Identifies whether the current candle is bullish or bearish by comparing the current close price with the previous close price.
3. **Average Volume Calculation**:
- Computes the average volume of bullish (green) and bearish (red) candles over the last 50 periods.
- Derives an average value between the green and red volume averages.
4. **Volume Slope Calculation**:
- Calculates the difference in volume averages (EMAs) between successive periods to determine the slope.
- Computes the angle of inclination for green, red, and average volume lines in degrees.
5. **Plotting**:
- Plots the average volumes of green and red candles as well as the combined average on the chart.
- Visualizes these metrics with color-coded lines for quick interpretation.
6. **Dynamic Table**:
- Displays a dynamic table on the chart that updates in real-time.
- Shows the angles of inclination for buy (green), sell (red), and average volume (blue) with corresponding background colors.
7. **Customizable Background**:
- Includes an option to set a semi-transparent background color for the chart, enhancing visual clarity.
This indicator is designed to help traders gain deeper insights into market volume dynamics and make more informed trading decisions. Whether you're analyzing short-term movements or long-term trends, the PROWIN STUDY BASIC CURRENT CANDLE TABLE offers valuable data at a glance.
Wall Street Cheat Sheet IndicatorThe Wall Street Cheat Sheet Indicator is a unique tool designed to help traders identify the psychological stages of the market cycle based on the well-known Wall Street Cheat Sheet. This indicator integrates moving averages and RSI to dynamically label market stages, providing clear visual cues on the chart.
Key Features:
Dynamic Stage Identification: The indicator automatically detects and labels market stages such as Disbelief, Hope, Optimism, Belief, Thrill, Euphoria, Complacency, Anxiety, Denial, Panic, Capitulation, Anger, and Depression. These stages are derived from the emotional phases of market participants, helping traders anticipate market movements.
Technical Indicators: The script uses two key technical indicators:
200-day Simple Moving Average (SMA): Helps identify long-term market trends.
50-day Simple Moving Average (SMA): Aids in recognizing medium-term trends.
Relative Strength Index (RSI): Assesses the momentum and potential reversal points based on overbought and oversold conditions.
Clear Visual Labels: The current market stage is displayed directly on the chart, making it easy to spot trends and potential turning points.
Usefulness:
This indicator is not just a simple mashup of existing tools. It uniquely combines the concept of market psychology with practical technical analysis tools (moving averages and RSI). By labeling the psychological stages of the market cycle, it provides traders with a deeper understanding of market sentiment and potential future movements.
How It Works:
Disbelief: Detected when the price is below the 200-day SMA and RSI is in the oversold territory, indicating a potential bottom.
Hope: Triggered when the price crosses above the 50-day SMA, with RSI starting to rise but still below 50, suggesting an early uptrend.
Optimism: Occurs when the price is above the 50-day SMA and RSI is between 50 and 70, indicating a strengthening trend.
Belief: When the price is well above the 50-day SMA and RSI is between 70 and 80, showing strong bullish momentum.
Thrill and Euphoria: Identified when RSI exceeds 80, indicating overbought conditions and potential for a peak.
Complacency to Depression: These stages are identified based on price corrections and drops relative to moving averages and declining RSI values.
Best Practices:
High-Time Frame Focus: This indicator works best on high-time frame charts, specifically the 1-week Bitcoin (BTCUSDT) chart. The longer time frame provides a clearer picture of the overall market cycle and reduces noise.
Trend Confirmation: Use in conjunction with other technical analysis tools such as trendlines, Fibonacci retracement levels, and support/resistance zones for more robust trading strategies.
How to Use:
Add the Indicator: Apply the Wall Street Cheat Sheet Indicator to your TradingView chart.
Analyze Market Stages: Observe the dynamic labels indicating the current stage of the market cycle.
Make Informed Decisions: Use the insights from the indicator to time your entries and exits, aligning your trades with the market sentiment.
This indicator is a valuable tool for traders looking to understand market psychology and make informed trading decisions based on the stages of the market cycle.
AMDX/XAMD indicatorThe AMDX/XAMD indicator is designed to highlight specific trading sessions on the chart using distinct colors and optional vertical lines. Users can choose between two session types, AMDX or XAMD, and customize the visual appearance of the sessions. This tool is particularly useful for traders who want to analyze market behavior during different trading periods.
Meaning of AMDX:
A: Accumulation
M: Manipulation
D: Distribution
X: Continuation Or Reversal
Features:
Session Highlighting:
AMDX Sessions: Split into four segments - A, M, D, X.
XAMD Sessions: Split into four segments - X, A, M, D.
Customizable Colors:
Choose individual colors for each session (A, M, D, X).
Adjust the transparency of the session boxes for better visual integration with the chart.
Drawing Styles:
Box Style: Draws colored boxes around the session ranges.
Line Style: Draws vertical lines at session start and end times.
Vertical Lines:
Option to enable or disable vertical lines at session boundaries.
Customizable line style: Solid, Dotted, or Dashed.
Session Labels:
Automatically labels each session for easy identification.
Customization Options:
Session Type: Select between AMDX and XAMD session types.
Colors: Set custom colors for each session and vertical lines.
Border Width: Adjust the width of the session box borders.
Transparency: Control the transparency level of the session boxes.
Drawing Style: Choose between Box and Line styles for session representation.
Vertical Lines: Enable or disable vertical lines and select the line style.
How It Works:
The indicator calculates the start and end times for each session based on the selected session type (AMDX or XAMD). It then draws either boxes or lines to highlight these sessions on the chart. The indicator also includes options to draw vertical lines at the session boundaries and labels each session with a corresponding letter (A, M, D, X).
Use Cases:
Market Session Analysis: Easily identify and analyze market behavior during different trading sessions.
Intraday Trading: Helps intraday traders to focus on specific time segments of the trading day.
Visual Segmentation: Provides a clear visual segmentation of the trading day, aiding in better decision-making.
Times for AMDX/XAMD session:
A Session: 18:00 (previous day) to 03:00 (current day)
M Session: 03:00 to 09:00
D Session: 09:00 to 12:00
X Session: 12:00 to 18:00
Time for the XAMD session :
X Session: 18:00 (previous day) to 00:00 (current day)
A Session: 00:00 to 09:00
M Session: 09:00 to 12:00
D Session: 12:00 to 18:00
