PhenomIt is a simple and effective tool for trading on moving averages.
The main advantage is that an ATR-based risk management system is included here. The system is based on the work of FullTimeTradingRu and the FBMA indicator
How to use the system:
1. I recommend using a daily timeframe.
2. Look for a rebound from the moving average, the most effective 20 Ema. For convenience, the colors of the bars are painted green in an uptrend.
3. Enter the transaction using hints. The recommended number of shares to buy is indicated in the table, taking into account your deposit and the risk per transaction from the deposit (by default 1%). Stop 1.5 ATR. Everything is the same for opening short positions.
4. I recommend entering the second trade only if the previous one passed 0.5 ATR, thereby confirming the trend and the fact that you correctly guessed the movement.
There are ATR settings in the script
Last bar show — How many bars to show
ATR lines ATR Step — For a more convenient view, ATR lines can be turned into a ladder.
Media Móvil Exponencial (EMA)
Rainbow Drift BetaRainbow Drift Beta is an indicator that detects the triggers of long and short positions at any TF.
It's based on two different type of approaches to the EMAs periods:
- Classic EMAs periods: 10 and 50
- Cycle EMAs perdios: 16, 64 and 256
The 256 period EMA (Annual Cycle) detects the trend: if the EMA 64 (Three-Weekly Cycle) is above, it shows an uptrend; while the EMA 64 is below, it means that the price action is in downtrend.
10 and 16 periods EMAs are working together as well as the 50 and the 64. The first couple reacts faster than the second one and as soon as the 10 is above the 16, the band shows the first attempt of the price action to go in the uptrend direction. The same concept is applied to the second couple (50, 64): when EMA 50 > EMA 64 it's a confirmation of the faster EMAs long direction. Viceverca happens for the downtrend but with the same concept.
As the EMA periods taken in consideration are quite often a sensitive level of reaction of the price, the indicator detects when there is trigger of a long or a short set up and plots a label on the chart. It's possibile to set up an alert as well.
Quite important, the indicator is looking for sideways patterns as the breakout of them shows a clear direction of the price.
Moreover, in order to privide the first and the best entry possibile, the indicator has a function that is triggering only one time as the trend reverted: for example, a long entry on the EMA 10-16 happens only one time since they crossover the EMA 64.
As included in the name, this is a beta version and new improvements will be added in the near future like suggested price entry, SL and TP, and the focus of the development is to avoid as much as possibile the false triggers.
Of course the best way to improve the code is to receive the users' feedbacks, so please feel free to post your comments and questions.
RSI Exponential Smoothing (Expo)█ Background information
The Relative Strength Index (RSI) and the Exponential Moving Average (EMA) are two popular indicators. Traders use these indicators to understand market trends and predict future price changes. However, traders often wonder which indicator is better: RSI or EMA.
What if these indicators give similar results? To find out, we wanted to study the relationship between RSI and EMA. We focused on a hypothesis: when the RSI goes above 50, it might be similar to the price crossing above a certain length of EMA. Similarly, when the RSI goes below 50, it might be similar to the price crossing below a certain length of EMA.
Our goal was simple: to figure out if there is any connection between RSI and EMA.
Conclusion: Yes, it seems that there is a correlation between RSI and EMA, and this indicator clearly displays that relationship. Read more about the study here:
█ Overview of the indicator
The RSI Exponential Smoothing indicator displays RSI levels with clear overbought and oversold zones, shown as easy-to-understand moving averages, and the RSI 50 line as an EMA. Another excellent feature is the added FIB levels. To activate, open the settings and click on "FIB Bands." These levels act as short-term support and resistance levels which can be used for scalping.
█ Benefits of using this indicator instead of regular RSI
The findings about the Relative Strength Index (RSI) and the Exponential Moving Average (EMA) highlight that both indicators are equally accurate (when it comes to crossings), meaning traders can choose either one without compromising accuracy. This empowers traders to pick the indicator that suits their personal preferences and trading style.
█ How it works
Crossings over/under the value of 50
The EMA line in the indicator acts as the corresponding 50 line in the RSI. When the RSI crosses the value 50 equals when Close crosses the EMA line.
Bouncess from the value 50
In this example, we can see that the EMA line on the chart acts as support/resistance equals when RSI rejects the 50 level.
Overbought and Oversold
The indicator comes with overbought and oversold bands equal when RSI becomes overbought or oversold.
█ How to use
This visual representation helps traders to apply RSI strategies directly on the price chart, potentially making RSI trading easier for traders.
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Fibonacci Retracements & Trend Following Strategy Hello! This code creates a Fibonacci retracement indicator and a trend-following strategy indicator. Trading signals and price reversal targets are also calculated. The overall structure of the code is quite clear and readable. The purpose of the code is to calculate Fibonacci retracement levels and a trend-following indicator, display price levels on a chart, calculate trading signals, and calculate price reversal targets.
In the first section, Fibonacci levels are determined. Four different Fibonacci levels are defined: 0.236, 0.382, 0.618, and 0.786. These levels will be used as retracement levels.
Next, a trend-following indicator is calculated. This indicator calculates the averages of high and low prices over a certain period. This indicator can be used to determine the direction of the trend.
Then, price levels are calculated. These levels are determined by calculating the difference between the highest and lowest prices of the trend-following indicator. These levels are used in the calculation of Fibonacci retracement levels.
Next, Fibonacci levels are calculated. These levels are calculated by multiplying price levels with Fibonacci retracement levels. These levels are displayed on the chart.
Trading signals and price reversal targets are calculated. This can be used to trade using a Fibonacci retracement strategy.
Finally, price reversal targets are displayed as circles on the chart.
Usage Guide: Fibonacci Retracement Indicator and Trend Following Strategy
This indicator is used for calculating Fibonacci retracement levels and a trend following indicator, displaying price levels on the chart, calculating trading signals, and determining price targets for reversals. It is important to understand how the indicator works and what type of trading signals it generates before trading with it.
1.)Fibonacci Retracement Levels
Fibonacci retracement levels are used to measure the retracement levels of a trend on the chart. These levels can be used where traders are looking for a reversal signal in the market.
This indicator uses four different Fibonacci levels, which are 0.236, 0.382, 0.618, and 0.786. These levels will be used as retracement levels.
2.)Trend Following Indicator
The trend following indicator calculates the averages of high and low prices over a specific period. This indicator can be used to determine the direction of the trend. While showing a rising trend, it helps the prices stay high, and when showing a falling trend, it can help the prices stay low.
3.)Price Levels
Price levels are determined by calculating the difference between the highest and lowest prices of the trend following indicator. These levels are used to calculate Fibonacci retracement levels.
4.)Trading Signals and Price Reversal Targets
Trading signals and price reversal targets can be used to trade using a Fibonacci retracement strategy. The indicator can buy at Fibonacci levels where prices are retreating in an uptrend, and sell at Fibonacci levels where prices are retreating in a downtrend.
Price reversal targets are shown on the chart in circles.
5.)Fibonacci Retracement Targets
The Fibonacci retracement targets are shown in circles on the chart. These target price levels are calculated by applying Fibonacci retracement levels to the high and low price ranges. These levels can help determine buy or sell signals.
6.)Buy and Sell Signals
The most important feature of the indicator is to determine buy and sell signals. A buy signal is given when the trend-following indicator falls below one of the Fibonacci retracement levels and the price drops below it. A sell signal is given when the trend-following indicator rises and the price goes above one of the Fibonacci retracement levels.
7.)Target Price Levels
Using the retracement levels can be used to determine potential target price levels. Target price levels are determined based on Fibonacci retracement levels and positions can be closed when these levels are reached.
8.)Examples of Using the Indicator:
a) Buy Signal
If the trend-following indicator drops below the 0.618 Fibonacci retracement level and the price falls below it, a buy signal can be given. The target price level can be between the 0.382 and 0.236 Fibonacci retracement levels.
b) Sell Signal
If the trend-following indicator rises and the price goes above the 0.236 Fibonacci retracement level, a sell signal can be given. The target price level can be between the 0.382 and 0.618 Fibonacci retracement levels.
c) Target Price Levels
When a position is opened, target price levels can be determined based on Fibonacci retracement levels. For example, when opening a buy position, the target price level can be between the 0.382 and 0.236 Fibonacci retracement levels.
The use of the indicator can be made more effective by using it together with other technical analysis tools. In addition, practical experimentation with the use of the indicator in different scenarios can help understand how the indicator works.
Divergences in 52 Week Moving Averages, Adjusted and SmoothedThis script description is intended to be holistic and comprehensive for the understanding of the interested parties who view the script.
Following the PineCoders suggestions, I have provided detailed breakdowns both within the code and in the description immediately below:
► Description
This description is intended to be detailed and meaningful, conveying the understanding of the script’s intention to the user:
The theory: Divergences and extreme readings in 52-Week highs on major indexes can provide a view into a potential pending move in the opposite direction of how the market has been trending. By comparing the 52-Week Hi/Lo indices and applying an Exponential Moving Average (EMA), we can assess how extreme a move is from the average. If the move provides an extreme reading, it would potentially be beneficial to “fade” the move (take a position in the opposing direction).
The intention: The intentionality of this script is to provide a visualization of when the highly-probable opportunity to fade over a multi-day or multi-week period arises. In addition to this, based on backtesting prior moves and reading the various levels of significant reversals, three tiers: “Standard”, “Sensitive”, and “Highly Sensitive” have been applied, the user can choose which sensitivity level they would like to see, there are far less false positives on the Standard and Sensitive settings, while Highly Sensitive often signals multiple times with the move coming a few days later.
The application: The settings allow the user to customize their sensitivity to the fade signals, with the ability to customize the visual that shows up as well. For higher-highs that are fade-worthy, the signal will appear on the top of the candle, for lower-lows that are fade-worthy, the signal will appear on the bottom of the candle. The users risk criteria should be the primary driver of the entry/exit, although when backtesting it appears that the significant move is typically completed within a 2-4 week period at max and 3-5 day period at minimum.
A personal note: I am a futures trader intraday but would very strongly caution users when using this strategy with futures (unless their risk tolerance is higher than most). The most beneficial strategy when fading moves would be to enter in tranches, starting at the first signal and adding on any pullback (as long as the pullback is not below the initial entry point). 1-6 Week Date-To-Expiry options would be the primary method for applying this strategy. I would also like to add that SPY/SPX options (SPDR S&P 500 ETF Trust / CBOE S&P 500 Index) are the most liquid options that could be applied in this strategy.
► Description (additional)
With the understanding that few users can read pinescript (Pine), the description above contains all of the necessary information that is necessary for a user to understand the intention for script utilization. For those who do understand Pine, the code is commented in each section in order to provide an understanding of the underlying functions, calculations, and thought process that went on during the writing of the script.
► Description (additional)
This script’s description contains no delegations, all aspects of the script as well as the initial idea behind it are contained in the description above, which is self-contained in it’s entirety with a clear and defined purpose that is written with the intent to holistically capture the intent of the potential use for this indicator.
► General House Rule #2
This script and the description (as well as my profile) contain no links or associations to promotion of any kind, I am not a business, I am not an individual that will in any way make money from this script or the promotion of another person, idea, company, entity, or legal persons (foreign or domestic).
► Originality and usefulness
This is an original and custom script (and idea) that is not a rehashing or a copy of any code from any other programmers in the tradingview community.
Conceptive Price Moving Average [CSM]The Conceptive Price Moving Average (CPMA) is a technical indicator designed to provide a more accurate moving average of the price by using the average of various price types, such as open, close, high, low, etc. The CPMA can help to smooth out the noise and provide a clearer picture of the overall trend by taking the average of the last 3 candles for each price type and then calculating the average of those averages.
To use the CPMA for generating buy/sell signals, you can look for crossovers of the CPMA and other commonly used moving averages, such as the 9-period EMA, 20-period EMA, 50-period EMA, 100-period EMA, and 200-period EMA, which are also plotted on the chart. When the CPMA crosses above a shorter-term moving average, such as the 9-period EMA or 20-period EMA, it can indicate a potential buy opportunity, while when the CPMA crosses below a shorter-term moving average, it can indicate a potential sell opportunity.
Based on my analysis of BankNifty and Nifty, I have found that the CPMA works best at a length of 21, showing good resistance and support for stocks. Therefore, I recommend using a length of 21 when using the CPMA for generating buy/sell signals.
AI-Bank-Nifty Tech AnalysisThis code is a TradingView indicator that analyzes the Bank Nifty index of the Indian stock market. It uses various inputs to customize the indicator's appearance and analysis, such as enabling analysis based on the chart's timeframe, detecting bullish and bearish engulfing candles, and setting the table position and style.
The code imports an external script called BankNifty_CSM, which likely contains functions that calculate technical indicators such as the RSI, MACD, VWAP, and more. The code then defines several table cell colors and other styling parameters.
Next, the code defines a table to display the technical analysis of eight bank stocks in the Bank Nifty index. It then defines a function called get_BankComponent_Details that takes a stock symbol as input, requests the stock's OHLCV data, and calculates several technical indicators using the imported CSM_BankNifty functions.
The code also defines two functions called get_EngulfingBullish_Detection and get_EngulfingBearish_Detection to detect bullish and bearish engulfing candles.
Finally, the code calculates the technical analysis for each bank stock using the get_BankComponent_Details function and displays the results in the table. If the engulfing input is enabled, the code also checks for bullish and bearish engulfing candles and displays buy/sell signals accordingly.
The FRAMA stands for "Fractal Adaptive Moving Average," which is a type of moving average that adjusts its smoothing factor based on the fractal dimension of the price data. The fractal dimension reflects self-similarity at different scales. The FRAMA uses this property to adapt to the scale of price movements, capturing short-term and long-term trends while minimizing lag. The FRAMA was developed by John F. Ehlers and is commonly used by traders and analysts in technical analysis to identify trends and generate buy and sell signals. I tried to create this indicator in Pine.
In this context, "RS" stands for "Relative Strength," which is a technical indicator that compares the performance of a particular stock or market sector against a benchmark index.
The "Alligator" is a technical analysis tool that consists of three smoothed moving averages. Introduced by Bill Williams in his book "Trading Chaos," the three lines are called the Jaw, Teeth, and Lips of the Alligator. The Alligator indicator helps traders identify the trend direction and its strength, as well as potential entry and exit points. When the three lines are intertwined or close to each other, it indicates a range-bound market, while a divergence between them indicates a trending market. The position of the price in relation to the Alligator lines can also provide signals, such as a buy signal when the price crosses above the Alligator lines and a sell signal when the price crosses below them.
In addition to these, we have several other commonly used technical indicators, such as MACD, RSI, MFI (Money Flow Index), VWAP, EMA, and Supertrend. I used all the built-in functions for these indicators from TradingView. Thanks to the developer of this TradingView Indicator.
I also created a BankNifty Components Table and checked it on the dashboard.
Forex RadarForex Radar Indicator: A Powerful Tool for Analyzing Currency Strength and Weakness
Introduction
The Forex Radar Indicator is an innovative tool that provides a visual representation of the relative strength and weakness of various currencies in the Forex market. This indicator is designed to help traders identify potential trading opportunities by analyzing the performance of different currency pairs. In this blog post, we will explore the features and benefits of the Forex Radar Indicator, and explain how to use it effectively in your trading strategy.
Features of the Forex Radar Indicator
1. Spider Plot Visualization
The Forex Radar Indicator uses a spider plot to display the relative strength and weakness of various currencies. A spider plot is a graphical representation of multivariate data, in which each variable is plotted on a separate axis that radiates from the center of the plot. The data points are connected by lines, forming a web-like pattern that makes it easy to compare the performance of different currencies.
2. Customizable Color Scheme
The Forex Radar Indicator allows users to customize the color scheme for each currency, making it easy to identify individual currencies on the spider plot. This feature can be particularly helpful for traders who prefer specific colors for each currency, or who want to use a color scheme that matches their trading platform or charting tools.
3. EMA Divergence and RSI Style Selection
The Forex Radar Indicator offers users the flexibility to choose between two different styles: EMA divergence and RSI. The EMA divergence style displays the difference between a short-term and long-term exponential moving average, while the RSI style shows the relative strength index of the currency pairs. By selecting the preferred style, traders can customize the indicator to suit their specific trading style and strategy.
4. Flexible Input Parameters
The Forex Radar Indicator offers flexible input parameters, allowing users to customize the indicator according to their trading preferences. These parameters include the length of the moving average, the filter value for the moving average, and the normalization length. By adjusting these parameters, traders can fine-tune the indicator to suit their specific trading style and strategy.
Using the Forex Radar Indicator in Your Trading Strategy
The Forex Radar Indicator can be a valuable tool in any trading strategy, as it provides a visual representation of the currency strength and weakness. Here are some tips on how to use the Forex Radar Indicator effectively in your trading:
1. Identify Currency Strength and Weakness
The main purpose of the Forex Radar Indicator is to help traders identify the strength and weakness of various currencies. By analyzing the spider plot, traders can quickly determine which currencies are performing well and which are underperforming. This information can be used to identify potential trading opportunities, as traders can focus on currency pairs that feature a strong currency against a weak one.
2. Choose Between EMA Divergence and RSI Style
Depending on your trading style and strategy, you can choose between the EMA divergence and RSI style options provided by the Forex Radar Indicator. Both styles offer valuable insights into currency strength and weakness, but they may highlight different aspects of the market. By selecting the style that best aligns with your trading approach, you can maximize the effectiveness of the indicator in your trading strategy.
3. Combine with Other Technical Analysis Tools
While the Forex Radar Indicator provides valuable insights into currency strength and weakness, it is important to remember that no single indicator can provide a complete picture of the market. To improve the accuracy and effectiveness of your trading strategy, consider combining the Forex Radar Indicator with other technical analysis tools, such as trend lines, support and resistance levels, and other indicators.
Conclusion
The Forex Radar Indicator is a powerful tool that can help traders gain a better understanding of the relative strength and weakness of various currencies in the Forex market. By incorporating the Forex Radar Indicator into your trading strategy, you can quickly identify potential trading opportunities and make more informed trading decisions. With its customizable color scheme, EMA divergence and RSI style options, and flexible input parameters, the Forex Radar Indicator is a versatile tool that can be adapted to suit any trading style or strategy.
JS-TechTrading: Supertrend-Strategy_Basic versionAre you looking for a reliable and profitable algorithmic trading strategy for TradingView? If so, you might be interested in our Supertrend basic strategy, which is based on three powerful indicators: Supertrend (ATR), RSI and EMA.
Supertrend is a trend-following indicator that helps you identify the direction and strength of the market. It also gives you clear signals for entry and exit points based on price movements.
RSI is a momentum indicator that measures the speed and change of price movements. It helps you filter out false signals and avoid overbought or oversold conditions.
EMA is a moving average indicator that smooths out price fluctuations and shows you the long-term trend of the market. It helps you confirm the validity of your trades and avoid trading against the trend.
Our Supertrend basic strategy combines these three indicators to give you a simple yet effective way to trade any market. Here's how it works:
- For long trades, you enter when the price is above Supertrend and pulls back below it (the low of the candle crosses Supertrend) and then rebounds above it (the high of the next candle goes above the pullback candle). You exit when the price closes below Supertrend or when you reach your target profit or stop loss.
- For short trades, you enter when the price is below Supertrend and pulls back above it (the high of the candle crosses Supertrend) and then drops below it (the low of the next candle goes below the pullback candle). You exit when the price closes above Supertrend or when you reach your target profit or stop loss.
- You can also use RSI and EMA filters to improve your results. For long trades, you only enter if RSI is above 50 and price is above 200 EMA. For short trades, you only enter if RSI is below 50 and price is below 200 EMA.
- You can set your stop loss and target profit as a percentage of your entry price or based on other criteria. You can also adjust the parameters of each indicator according to your preferences and risk tolerance.
Our Supertrend basic strategy is easy to use and has been tested on various markets and time frames. It can help you capture consistent profits while minimizing your losses.
EMA + ATR Support and Resistance + Take Profit SignalThe 'EMA+ ATR Support Resistance Take Profit signal' indicator is a technical analysis tool designed to help traders identify potential support and resistance levels, using the Exponential Moving Average (EMA) and the Average True Range (ATR) indicators. This indicator not only tracks the EMA and ATR but also plots these levels as support and resistance lines, providing useful insights into potential buy and sell points.
The indicator allows you to set the lengths for both the EMA and ATR, with default values set to 20 and 14, respectively. Moreover, you can specify the multiplier for the ATR in the Support/Resistance (S/R) length setting, which defaults to 2. The line width for the plotted lines can also be adjusted according to your preference.
The EMA line in center is invisible by default but you can change that by going to the setting of the indicator. The support and resistance lines are plotted in green and red, respectively. When the price hits the support or resistance levels, the indicator provides a visual signal with a cross shape below or above the respective bars, in lime and red, respectively. If you do not need the take profit signals you can disable them in the setting.
How to Use:
1. Define the EMA and ATR lengths according to your trading strategy. Higher lengths will provide smoother lines but may also lag the current price action.
2. Set the S/R length to determine the distance of the support and resistance lines from the EMA line. Higher values will place these lines further away from the EMA.
3. Monitor the chart for instances when the price hits the support or resistance levels. This is indicated by a cross shape below (for support hit) or above (for resistance hit) the price bar. These points may be considered as potential take profit points or entry/exit points, depending on your strategy.
4. Use the indicator in conjunction with other tools and indicators to confirm signals and reduce the risk of false signals. So the assumption is you enter a trade using your other indicators but you can rely on this indicator to remind you to take profit if you are long by a red cross of the resistance line and if you are short reminds you by a green cross on the support line.
Disclaimer: This indicator should not be used as the sole determinant for any investment decision. Always conduct thorough research and consider multiple factors before trading.
EMA bridge and dashboard with color coding.
Summary:
This is a custom moving average indicator script that calculates and plots different Exponential Moving Averages (EMAs) based on user-defined input values. The script also displays MACD and RSI, and provides a table that displays the current trend of the market in a color-coded format.
Explanation:
- The script starts by defining the name of the indicator and the different inputs that the user can customize.
- The inputs include bridge values for three different EMAs (high, close, and low), and four other EMAs (5, 50, 100, and 200).
- The script assigns values to these inputs using the `ta.ema()` function.
- Additionally, the script calculates EMAs for higher timeframes (3m, 5m, 15m, and 30m).
- The script then plots the EMAs on the chart using different colors and line widths.
- The script defines conditions for going long or short based on the crossover of two EMAs.
- It plots triangles above or below bars to indicate the crossover events.
- The script also calculates and displays the RSI and MACD of the asset.
- Finally, the script creates a table that displays the current trend of the market in a color-coded format. The table can be positioned on the top, middle, or bottom of the chart and on the left, center, or right side of the chart.
Parameters:
- i_ema_h: Bridge value for high EMA (default=34)
- i_ema_c: Bridge value for close EMA (default=34)
- i_ema_l: Bridge value for low EMA (default=34)
- i_ema_5: Value for 5-period EMA (default=5)
- i_ema_50: Value for 50-period EMA (default=50)
- i_ema_100: Value for 100-period EMA (default=100)
- i_ema_200: Value for 200-period EMA (default=200)
- i_f_ema: Value for fast EMA used in MACD calculation (default=9)
- i_s_ema: Value for slow EMA used in MACD calculation (default=21)
- fastInput: Value for fast length used in MACD calculation (default=7)
- slowInput: Value for slow length used in MACD calculation (default=14)
- tableYposInput: Vertical position of the table (options: top, middle, bottom; default=middle)
- tableXposInput: Horizontal position of the table (options: left, center, right; default=right)
- bullColorInput: Color of the table cell for a bullish trend (default=green)
- bearColorInput: Color of the table cell for a bearish trend (default=red)
- neutColorInput: Color of the table cell for a neutral trend (default=white)
- neutColorLabelInput: Color of the label for neutral trend in the table (default=fuchsia)
Usage:
To use this script, simply copy and paste it into the Pine Editor on TradingView. You can then customize the input values to your liking or leave them at their default values. Once you have added the script to your chart, you can view the EMAs, MACD, RSI, and trend table on the chart. The trend table provides a quick way to assess the current trend of the market at a glance.
LowFinder_PyraMider_V2This strategy is a result of an exploration to experiment with other ways to detect lows / dips in the price movement, to try out alternative ways to exit and stop positions and a dive into risk management. It uses a combination of different indicators to detect and filter the potential lows and opens multiple positions to spread the risk and opportunities for unrealized losses or profits. This script combines code developed by fellow Tradingview community_members.
LowFinder
The lows in the price movement are detected by the Low finder script by RafaelZioni . It finds the potential lows based on the difference between RSI and EMA RSI. The MTF RSI formula is part of the MTFindicators library developed by Peter_O and is integrated in the Low finder code to give the option to use the RSI of higher timeframes. The sensitivity of the LowFinder is controlled by the MA length. When potential lows are detected, a Moving Average, a MTF Stochastic (based the the MTFindiicators by Peter_O) and the average price level filter out the weak lows. In the settings the minimal percentage needed for a low to be detected below the average price can be specified.
Order Sizing and Pyramiding
Pyramiding, or spreading multiple positions, is at the heart of this strategy and what makes it so powerful. The order size is calculated based on the max number of orders and portfolio percentage specified in the input settings. There are two order size modes. The ‘base’ mode uses the same base quantity for each order it opens, the ‘multiply’ mode multiplies the quantity with each order number. For example, when Long 3 is opened, the quantity is multiplied by 3. So, the more orders the bigger the consecutive order sizes. When using ‘multiply’ mode the sizes of the first orders are considerably lower to make up for the later bigger order sizes. There is an option to manually set a fixed order size but use this with caution as it bypasses all the risk calculations.
Stop Level, Take Profit, Trailing Stop
The one indicator that controls the exits is the Stop Level. When close crosses over the Stop Level, the complete position is closed and all orders are exited. The Stop Level is calculated based on the highest high given a specified candle lookback (settings). There is an option to deviate above this level with a specified percentage to tweak for better results. You can activate a Take Profit / Trailing Stop. When activated and close crosses the specified percentage, the Stop Level logic changes to a trailing stop to gain more profits. Another option is to use the percentage as a take profit, either when the stop level crosses over the take profit or close. With this option active, you can make this strategy more conservative. It is active by default.
And finally there is an option to Take Profit per open order. If hit, the separate orders close. In the current settings this option is not used as the percentage is 10%.
Stop Loss
I published an earlier version of this script a couple of weeks ago, but it got hidden by the moderators. Looking back, it makes sense because I didn’t pay any attention to risk management and save order sizing. This resulted in unrealistic results. So, in this script update I added a Stop Loss option. There are two modes. The ‘average price’ mode calculates the stop loss level based on a given percentage below the average price of the total position. The ‘equity’ mode calculates the stop loss level based on a given percentage of your equity you want to lose. By default, the ‘equity’ mode is active. By tweaking the percentage of the portfolio size and the stop loss equity mode, you can achieve a quite low risk strategy set up.
Variables in comments
To sent alerts to my exchange I use a webhook server. This works with a sending the information in the form of a comment. To be able to send messages with different quantities, a variable is added to the comment. This makes it possible to open different positions on the exchange with increasing quantities. To test this the quantities are printed in the comment and the quantities are switched off in the style settings.
This code is a result of a study and not intended for use as a worked out and full functioning strategy. Use it at your own risk. To make the code understandable for users that are not so much introduced into pine script (like me), every step in the code is commented to explain what it does. Hopefully it helps.
Enjoy!
VWAP+15EMA with RSIVWAP+EMA+RSI Strategy for the group MelléCasH
This strategy will enter a long position when the closing price is above both the VWAP and the 15 EMA, and the RSI is above the specified overbought level. It will exit the position when the price falls by the specified stop loss percentage, rises by the specified take profit percentage, or when the trailing stop loss (which trails the highest price achieved after the position was entered by the specified percentage) is hit. The VWAP, EMA, and RSI indicators are also plotted on the chart for reference.
Simple Chop ZoneThe original Chop Zone indicator by Trading View is good, but has a few limitations which I've addressed in this one
Too many colors which confuse and/or overwhelm users like me
Inability to change the EMA period
This one has just 3 customizable colors for
Uptrend - default = Turquoise
Downtrend - default = red
Everything else - default = lime
And you can set your own EMA length. The default is 34 as per the original Chop Zone indicator
Ignition Cha Cha ChaIgnition Cha Cha Cha (ICCC) is a 3 color coded moving average indicator which numerically quantify the angle of their trends. I have labeled them as fast, medium and slow. The trend colors are Green for bullish, Red for bearish and Grey for sideways. The sideways movement can be user defined for all 3 in the settings under Threshold. If you regard for example anything under 10º as sideways then place 10 in the corresponding threshold and any angle under 10º will give a grey moving average and a grey labeled text. I use this chart in several ways. If you don't want moving averages all over your Chartistic Masterpiece you can turn off the plots and leave the numeric angles which will give you an overview of the trend. Conversely if you want to make the ultimate trend chart you can setup a 4 chart layout, Weekly, Daily, 12 hour and 4 hour and add the indicator with 200/50/25 moving averages and look for confluence. I find the best way for this is turn off the candles and use the moving averages with the numeric labels. You also have the ability to turn off and on different aspects of the indicator so that there is good control over its look. Also I have given the indicator lots of Alert presets for all 3 of the moving averages so you can avoid demented screen-stairing. Please forgive the name, my mother made me do Ballroom dancing lessons as a kid.
TradeEasy - KintroThe TradingView script provided is a custom indicator named "TradeEasy - Kintro". It is created by the author Kintro and is designed to help traders identify potential buy and sell signals in the market. The indicator is based on the Exponential Moving Average (EMA) and uses two different EMAs, one with a period of 20 and the other with a period of 50.
The indicator is meant to be used on the 5-minute timeframe and it is recommended to use TradingView in Dark Mode for better appearance. The author also reminds users that no strategy works 100% accurately and backtesting should be done before trading with a real account. The author is not responsible for any losses incurred by traders.
The indicator uses a simple set of rules to generate trading signals. The thick line on the chart represents the 50 EMA while the thin line represents the 20 EMA. When the thin line crosses upwards over the thick line, it indicates a bullish signal. After the crossover, traders are advised to wait for the price to pullback between the two lines. A range should then be created while the price moves through the thin line.
On the break of the range, an entry signal is generated, and the stop loss should be set below the range. The author advises traders to exit their profits according to their own analysis or price action and not to re-enter on the next pullback of the same trend. The same rules apply when the thin line crosses downwards over the thick line.
The author emphasizes that range creation is mandatory on crossing and that traders should not try to go against the trend. If the price is above both lines, traders should only go for buy orders, and vice versa.
If there is no range created while crossing, traders are advised not to enter the market. Traders should wait for the opportunity and not force a trade.
The indicator also includes a plot of the 34 EMA, and a range is created above and below the price action using the "up" and "down" variables. The author uses the "fill" function to color the background of the chart to highlight the range. The "dummy" variable is used to plot circles above or below the price action, depending on the trend.
In summary, the "TradeEasy - Kintro" indicator is a custom indicator designed to help traders identify potential buy and sell signals based on the crossing of two EMAs. The author provides a set of rules to generate trading signals and advises traders to wait for the opportunity and not force a trade. The indicator also includes a visual representation of the range created on the chart. As always, traders are advised to conduct their own research and analysis before entering any trades.
Relative Strength Index w/ STARC Bands and PivotsThis is an old script that I use with some useful RSI strategies from "Technical Analysis for the Trading Professional" 2nd edition by Constance Brown.
The base RSI comes with the option for custom length, and has some pre-configured ranges for looking at exits and entrances. The idea is to be bullish when bounces happen in the red zone during an already bullish trend or when the indicator enters green without a rejection. Be bearish if the indicator falls through the red zone or fails to enter green during an already bearish trend.
I have added the formulas used for creating STARC bands (just think fancier volatility bands) with adjustable tolerances. The idea is to look out for when the RSI touches one of the bands and reverses. This is usually indicative of a strong reversal (though the timing will be up to the trader). Best use this on shorter time frames during a volatile time of a stock's price action.
Although a little messy, there is a small segment of the script which includes pivot points. I like to use these because they make indicating local highs/lows for finding divergences easier.
Finally, I have added a couple of customizable EMAS for the RSI itself. Useful when combined with the other features!
Bar Color Long / Short Indicator With Advised SLOverview
This script is a trading indicator named "Bar Color Long / Short Indicator With Advised SL" designed for the TradingView platform. The indicator's primary purpose is to provide entry signals for long and short positions, based on various technical analysis methods. Additionally, the indicator suggests stop-loss levels for both long and short positions.
User Inputs
The indicator has several user inputs, such as:
Length
Smoothing
Multiplier
Show bar colors (ON/OFF)
When the bar colors are turned off, the alert signals for long and short positions will be displayed instead.
Custom Risk Calculation
The script calculates a custom risk level based on a modified version of the RSI (Relative Strength Index) formula. The custom risk level is divided into three categories: low, medium, and high.
Sentiment Score Calculation
The indicator calculates a sentiment score based on a combination of methods resembling EMA (Exponential Moving Average), MACD (Moving Average Convergence Divergence), and ROC (Rate of Change). The sentiment score is used to determine if the sentiment is positive or negative.
Bollinger Bands Percent and Combined Signal
The Bollinger Bands Percent is calculated, and the custom risk, sentiment score, and Bollinger Bands Percent are combined to generate a new signal. This signal is used in conjunction with EMA10 to determine the bar colors and provide entry signals.
Bar Colors
Based on the combined signal and EMA10, the script determines the bar colors as follows:
Orange: Positive sentiment
Blue: Negative sentiment
Gray: Neutral
Entry Signals and Alerts
When the bar colors are turned off, the indicator displays large green arrow signals for long (buy) positions and red arrow signals for short (sell) positions based on the sentiment and EMA10 conditions. The script also includes alert conditions for long and short signals, which can be used to set up notifications when these signals are triggered in the TradingView platform.
Advised Stop-Loss Levels
The indicator plots stop-loss lines for both long and short positions at the last candle, accompanied by labels showing the advised stop-loss levels in numeric values.
Momentum Ratio Oscillator [Loxx]What is Momentum Ratio Oscillator?
The theory behind this indicator involves utilizing a sequence of exponential moving average (EMA) calculations to achieve a smoother value of momentum ratio, which compares the current value to the previous one. Although this results in an outcome similar to that of some pre-existing indicators (such as volume zone or price zone oscillators), the use of EMA for smoothing is what sets it apart. EMA produces a smooth step-like output when values undergo sudden changes, whereas the mathematics used for those other indicators are completely distinct. This is a concept by the beloved Mladen of FX forums.
To utilize this version of the indicator, you have the option of using either levels, middle, or signal crosses for signals. The indicator is range bound from 0 to 1.
What is an EMA?
EMA stands for Exponential Moving Average, which is a type of moving average that is commonly used in technical analysis to smooth out price data and identify trends.
In a simple moving average (SMA), each data point is given equal weight when calculating the average. For example, if you are calculating the 10-day SMA, you would add up the prices for the past 10 days and divide by 10 to get the average. In contrast, in an EMA, more weight is given to recent prices, while older prices are given less weight.
The formula for calculating an EMA involves using a smoothing factor that is multiplied by the difference between the current price and the previous EMA value, and then adding this to the previous EMA value. The smoothing factor is typically calculated based on the length of the EMA being used. For example, a 10-day EMA might use a smoothing factor of 2/(10+1) or 0.1818.
The result of using an EMA is that the line produced is more responsive to recent price changes than a simple moving average. This makes it useful for identifying short-term trends and potential trend reversals. However, it can also be more volatile and prone to whipsaws, so it is often used in combination with other indicators to confirm signals.
Overall, the EMA is a widely used and versatile tool in technical analysis, and its effectiveness depends on the specific context in which it is applied.
What is Momentum?
In technical analysis, momentum refers to the rate of change of an asset's price over a certain period of time. It is often used to identify trends and potential trend reversals in financial markets.
Momentum is calculated by subtracting the closing price of an asset X days ago from its current closing price, where X is the number of days being used for the calculation. The result is the momentum value for that particular day. A positive momentum value suggests that prices are increasing, while a negative value indicates that prices are decreasing.
Traders use momentum in a variety of ways. One common approach is to look for divergences between the momentum indicator and the price of the asset being traded. For example, if an asset's price is trending upwards but its momentum is trending downwards, this could be a sign of a potential trend reversal.
Another popular strategy is to use momentum to identify overbought and oversold conditions in the market. When an asset's price has been rising rapidly and its momentum is high, it may be considered overbought and due for a correction. Conversely, when an asset's price has been falling rapidly and its momentum is low, it may be considered oversold and due for a bounce back up.
Momentum is also often used in conjunction with other technical indicators, such as moving averages or Bollinger Bands, to confirm signals and improve the accuracy of trading decisions.
Overall, momentum is a useful tool for traders and investors to analyze price movements and identify potential trading opportunities. However, like all technical indicators, it should be used in conjunction with other forms of analysis and with consideration of the broader market context.
Extras
Alerts
Signals
Loxx's Expanded Source Types, see here for details
CPR with inside candle, Pivot Points and 4EMA The CPR trading strategy is a technical analysis approach that combines multiple indicators to determine potential price levels and trading opportunities. The strategy uses three main components: Inside Candles, Pivot Points, and the 4EMA.
Inside Candles: The Inside Candle pattern is a candlestick pattern where the current candle has a lower high and a higher low than the previous candle. This pattern can indicate a period of consolidation or indecision in the market and can signal a potential reversal or continuation of the trend.
Pivot Points: Pivot Points are technical indicators that use the previous day's price data to calculate key levels of support and resistance for the current trading day. These levels can act as potential areas of buying or selling pressure and can help traders identify potential entry and exit points.
4EMA: The 4EMA is a short-term Exponential Moving Average that tracks the average price of an asset over the previous four periods. This indicator is used to help identify short-term trends in the market and can signal potential buying or selling opportunities.
To apply the CPR strategy, traders first look for Inside Candles on their chart, indicating a period of consolidation or indecision in the market. Next, they identify the Pivot Points for the current trading day, which can act as potential areas of support or resistance. Finally, traders use the 4EMA to confirm the direction of the trend and potential entry or exit points.
For example, if an Inside Candle forms at a Pivot Point level and the 4EMA is indicating an uptrend, this could be a potential buying opportunity. Conversely, if an Inside Candle forms at a Pivot Point level and the 4EMA is indicating a downtrend, this could be a potential selling opportunity.
CoffeeShopCrypto 3pl MAThe CoffeeShopCrypto 3pl MA indicator is a technical analysis tool that uses three different moving averages to identify trends in the price of an asset. The three moving averages have lengths of 12, 26, and 50. If these numbers sound familiar its because they are based off the standard of the MACD indicator, and can be either simple moving averages (SMA) or exponential moving averages (EMA), depending on user preference.
The following is plotted on the chart
The fast EMA/SMA (based on the 12-period length) in yellow.
The mid EMA/SMA (based on the 26-period length) in gray.
The slow EMA/SMA (based on the 50-period length) in either green or red, depending on whether the current close price is above or below the Overall Trend MA.
In addition to the moving averages, the indicator also calculates the MACD (Moving Average Convergence Divergence), and uses it to color the bars based on the momentum of the asset.
The MACD is calculated using two user-defined lengths (fast and slow), as well as a user-defined smoothing length for the signal line. The oscillator and signal line can be either SMA or EMA, and the colors of the MACD bars are based on whether the histogram is growing or falling, and whether it is above or below the zero line.
Overall, this indicator provides traders with a comprehensive tool for understanding the trend of an asset, as well as the momentum behind that trend. The moving averages provide a clear visual representation of the trend, while the MACD bars give insight into the strength of that trend and potential shifts in momentum.
---------------LONG ENTRY----------------
MA1 above MA2 and Overall trend = Green
IF RSI is above its midline you are confirmed for a long entry
-----------Short Entry--------------
MA1 below MA2 and Overall trend = Red
IF RSI is below its midline you are confirmed for a short entry
Know Sure Thing + RibbonFrom now on this will be the main indicator I will be using.
The mathematical foundation of KST is elegant and trustworthy. I took the time to share this beautiful (in my opinion) indicator, because you will probably be seeing it in my future ideas.
I am not a trader, this indicator was made to analyze mainly long-term charts, and trend-continuation/change analysis.
The purpose of this indicator is not to give entry/exit points. However, the 9-period EMA (tightest EMA) can serve as an alternative to the classic "9-period MA signal line".
Tread lightly, for this is hallowed ground.
-Father Grigori
ADD 2This is a modification to the original ADD script by Tom1trader
I added the option to choose the timeframe, moving average type and length.
Note from the original script:
"This is the NYSE Advancers - decliners which the SPX pretty much follows. You can chart it like any index (ADD -NYSE $ADV MINUS $DECL) but I find it more useful in a separate panel with colors for direction.
The level gives an idea of days move (example: plus or minus 500 is not much movement through the session) but I follow the direction as when more stocks advance (green) or decline (red) the index tends to track it pretty closely.
On SPX , SPY and correlates - very useful for intra-day trading (Scalping or 0DTE option trades) but not for higher time frames at all. If you chart the ADD in a chart and compare 5 minute to daily you will see what I mean."
