lower_tf█ OVERVIEW
This library is a Pine programmer’s tool containing functions to help those who use the request.security_lower_tf() function. Its `ltf()` function helps translate user inputs into a lower timeframe string usable with request.security_lower_tf() . Another function, `ltfStats()`, accumulates statistics on processed chart bars and intrabars.
█ CONCEPTS
Chart bars
Chart bars , as referred to in our publications, are bars that occur at the current chart timeframe, as opposed to those that occur at a timeframe that is higher or lower than that of the chart view.
Intrabars
Intrabars are chart bars at a lower timeframe than the chart's. Each 1H chart bar of a 24x7 market will, for example, usually contain 60 intrabars at the LTF of 1min, provided there was market activity during each minute of the hour. Mining information from intrabars can be useful in that it offers traders visibility on the activity inside a chart bar.
Lower timeframes (LTFs)
A lower timeframe is a timeframe that is smaller than the chart's timeframe. This framework exemplifies how authors can determine which LTF to use by examining the chart's timeframe. The LTF determines how many intrabars are examined for each chart bar; the lower the timeframe, the more intrabars are analyzed.
Intrabar precision
The precision of calculations increases with the number of intrabars analyzed for each chart bar. As there is a 100K limit to the number of intrabars that can be analyzed by a script, a trade-off occurs between the number of intrabars analyzed per chart bar and the chart bars for which calculations are possible.
█ `ltf()`
This function returns a timeframe string usable with request.security_lower_tf() . It calculates the returned timeframe by taking into account a user selection between eight different calculation modes and the chart's timeframe. You send it the user's selection, along with the text corresponding to the eight choices from which the user has chosen, and the function returns a corresponding LTF string.
Because the function processes strings and doesn't require recalculation on each bar, using var to declare the variable to which its result is assigned will execute the function only once on bar zero and speed up your script:
var string ltfString = ltf(ltfModeInput, LTF1, LTF2, LTF3, LTF4, LTF5, LTF6, LTF7, LTF8)
The eight choices users can select from are of two types: the first four allow a selection from the desired amount of chart bars to be covered, the last four are choices of a fixed number of intrabars to be analyzed per chart bar. Our example code shows how to structure your input call and then make the call to `ltf()`. By changing the text associated with the `LTF1` to `LTF8` constants, you can tailor it to your preferences while preserving the functionality of `ltf()` because you will be sending those string constants as the function's arguments so it can determine the user's selection. The association between each `LTFx` constant and its calculation mode is fixed, so the order of the arguments is important when you call `ltf()`.
These are the first four modes and the `LTFx` constants corresponding to each:
Covering most chart bars (least precise) — LTF1
Covers all chart bars. This is accomplished by dividing the current timeframe in seconds by 4 and converting that number back to a string in timeframe.period format using secondsToTfString() . Due to the fact that, on premium subscriptions, the typical historical bar count is between 20-25k bars, dividing the timeframe by 4 ensures the highest level of intrabar precision possible while achieving complete coverage for the entire dataset with the maximum allowed 100K intrabars.
Covering some chart bars (less precise) — LTF2
Covering less chart bars (more precise) — LTF3
These levels offer a stepped LTF in relation to the chart timeframe with slightly more, or slightly less precision. The stepped lower timeframe tiers are calculated from the chart timeframe as follows:
Chart Timeframe Lower Timeframe
Less Precise More Precise
< 1hr 1min 1min
< 1D 15min 1min
< 1W 2hr 30min
> 1W 1D 60min
Covering the least chart bars (most precise) — LTF4
Analyzes the maximum quantity of intrabars possible by using the 1min LTF, which also allows the least amount of chart bars to be covered.
The last four modes allow the user to specify a fixed number of intrabars to analyze per chart bar. Users can choose from 12, 24, 50 or 100 intrabars, respectively corresponding to the `LTF5`, `LTF6`, `LTF7` and `LTF8` constants. The value is a target; the function will do its best to come up with a LTF producing the required number of intrabars. Because of considerations such as the length of a ticker's session, rounding of the LTF to the closest allowable timeframe, or the lowest allowable timeframe of 1min intrabars, it is often impossible for the function to find a LTF producing the exact number of intrabars. Requesting 100 intrabars on a 60min chart, for example, can only produce 60 1min intrabars. Higher chart timeframes, tickers with high liquidity or 24x7 markets will produce optimal results.
█ `ltfStats()`
`ltfStats()` returns statistics that will be useful to programmers using intrabar inspection. By analyzing the arrays returned by request.security_lower_tf() in can determine:
• intrabarsInChartBar : The number of intrabars analyzed for each chart bar.
• chartBarsCovered : The number of chart bars where intrabar information is available.
• avgIntrabars : The average number of intrabars analyzed per chart bar. Events like holidays, market activity, or reduced hours sessions can cause the number of intrabars to vary, bar to bar.
The function must be called on each bar to produce reliable results.
█ DEMONSTRATION CODE
Our example code shows how to provide users with an input from which they can select a LTF calculation mode. If you use this library's functions, feel free to reuse our input setup code, including the tooltip providing users with explanations on how it works for them.
We make a simple call to request.security_lower_tf() to fetch the close values of intrabars, but we do not use those values. We simply send the returned array to `ltfStats()` and then plot in the indicator's pane the number of intrabars examined on each bar and its average. We also display an information box showing the user's selection of the LTF calculation mode, the resulting LTF calculated by `ltf()` and some statistics.
█ NOTES
• As in several of our recent publications, this script uses secondsToTfString() to produce a timeframe string in timeframe.period format from a timeframe expressed in seconds.
• The script utilizes display.data_window and display.status_line to restrict the display of certain plots.
These new built-ins allow coders to fine-tune where a script’s plot values are displayed.
• We implement a new recommended best practice for tables which works faster and reduces memory consumption.
Using this new method, tables are declared only once with var , as usual. Then, on bar zero only, we use table.cell() calls to populate the table.
Finally, table.set_*() functions are used to update attributes of table cells on the last bar of the dataset.
This greatly reduces the resources required to render tables. We encourage all Pine Script™ programmers to do the same.
Look first. Then leap.
█ FUNCTIONS
The library contains the following functions:
ltf(userSelection, choice1, choice2, choice3, choice4, choice5, choice6, choice7, choice8)
Selects a LTF from the chart's TF, depending on the `userSelection` input string.
Parameters:
userSelection : (simple string) User-selected input string which must be one of the `choicex` arguments.
choice1 : (simple string) Input selection corresponding to "Least precise, covering most chart bars".
choice2 : (simple string) Input selection corresponding to "Less precise, covering some chart bars".
choice3 : (simple string) Input selection corresponding to "More precise, covering less chart bars".
choice4 : (simple string) Input selection corresponding to "Most precise, 1min intrabars".
choice5 : (simple string) Input selection corresponding to "~12 intrabars per chart bar".
choice6 : (simple string) Input selection corresponding to "~24 intrabars per chart bar".
choice7 : (simple string) Input selection corresponding to "~50 intrabars per chart bar".
choice8 : (simple string) Input selection corresponding to "~100 intrabars per chart bar".
Returns: (simple string) A timeframe string to be used with `request.security_lower_tf()`.
ltfStats()
Returns statistics about analyzed intrabars and chart bars covered by calls to `request.security_lower_tf()`.
Parameters:
intrabarValues : (float [ ]) The ID of a float array containing values fetched by a call to `request.security_lower_tf()`.
Returns: A 3-element tuple: [ (series int) intrabarsInChartBar, (series int) chartBarsCovered, (series float) avgIntrabars ].
Multi
Multi SMA Duokong indicatorThis is a multi Simple Moving Average line which changes color when the line curves change in gradients, enable users to notice the change in the curve of the moving average lines.
MTF Fair Value Gap Indicator ULTRAFVG Fair Value Gap Indicator
FVG's commonly known as Fair Value Gaps are mostly in use for forex trading, however it’s been widely used in price action trading, even on regular large cap stocks. Think of it as an imbalance area where the price of the stock may actually be under/over valued due to many orders being injected in a short amount of time, ie . a gap caused by an impulse created by the speed of the price movement. In essence, the FVG can become a kind of magnet drawing the price back to that level to attempt to balance out the orders (when? we don't know). Please do research to understand the concept of FVG's.
You can look for an opportunity as price approaches the FVG for entry either long/short because after all, it is an "Area of Interest" so the price will either bounce or blow through the area. No indicator works 100% of the time so take in context as just another indicator. It tends work on larger time frames best.
IMPORTANT TV RELATED LIMITATIONS: You should take the time to understand the following. A MAXIMUM of 500 boxes and labels are allowed, thus if you elect to display many different time frames of FVGs and/or select to not auto delete old Daily FVGs, the oldest FVGs will be deleted and not be seen. Additionally if you are on a smaller chart time frame (1 min), you may not see older FVGs such as Daily ones that occurred and still exist from long ago. This is due to TV limitation of 20,000 candles of history in each chart timeframe. Example: A 1 minute chart supports approximately 14 days worth of data so looking for Daily FVGs would only go back that far, whereas if your chart was set to 5 minutes you'd be able to see 5 times as many, ie . 60 days worth of Daily FVG's. Obviously setting your chart and looking for Daily FVG's would support up to 20,000 days worth.
The Indicator Provides many different features:
*Creation of FVG's for all hours or just during market hours. Currently you can enable FVG’s for the following timeframes: Current chart timeframe, 5Min, 10Min, 15Min, 1Hr, 4Hr, 8Hr, Daily, Weekly, Monthly.
*Text label displays overlaying FVG bands including creation timestamps.
* Bands reflecting FVG's in action (created/deleted) for the current chart time frame, 15min, 1hr, 4hr, 8hr and daily time frames. The FVG's will be overlayed on the chart if enabled.
*Mitigation Action - Normal - When FVG is balanced out by price action, the FVG will disappear. Dynamic - The FVG band will decrease as the price movement eats into it thus only showing the remaining imbalance. None - For those that wish to retain FVG's even if they were mitigated. Half - FVG’s disappear when the price intrudes 50% of the overall FVG band zone.
*Mitigation Type - The elimination or balancing of the FVG is caused by either the candle wick or body passing completely through the FVG.
*Maximum FVGs - A maximum number of FVGs are created for each different enabled time frame (be aware setting a large number could impact system performance).
*All FVG band colors can be customized by the user.
* All FVG bands auto extend to the right.
* Intrusion Alerts - Trading View alerts are supported. You can use the indicator settings to enable an alert if the price intrudes into the FVG zone by a certain percentage. This is not related to mitigation or removal of the FVG, just a warning that price has reached the area of interest.
Multi TF Trend Indicator
...Mark Douglas in his book Trading in the Zone wrote
The longer the time frame, the more significant the trend, so a trending market on a daily bar chart is more significant than a trending market on a 30-minute bar chart. Therefore, the trend on the daily bar chart would take precedence over the trend on the 30-minute bar chart and would be considered the major trend. To determine the direction of the major trend, look at what is happening on a daily bar chart. If the trend is up on the daily, you are only going to look for a sell-off or retracement down to what your edge defines as support on the 30-minute chart. That's where you will become a buyer. On the other hand, if the trend is down on the daily, you are only going to look for a rally up to what your edge defines as a resistance level to be a seller on the 30-minute chart. Your objective is to determine, in a downtrending market, how far it can rally on an intraday basis and still not violate the symmetry of the longer trend. In an up-trending market, your objective is to determine how far it can sell off on an intraday basis without violating the symmetry of the longer trend. There's usually very little risk associated with these intraday support and resistance points, because you don't have to let the market go very far beyond them to tell you the trade isn't working.
The purpose of this indicator to show both the major and minor trend on the same chart with no need to switch between timeframes
Script includes
timeframe to determine the major trend
price curve, close price is default, but you can pick MA you want
type of coloring, either curve color or the background color
Implementation details
major trend is determined by the slope of the price curve
Further improvements
a variation of techniques for determining the major trend (crossing MA, pivot points etc.)
major trend change alerts
Thanks @loxx for pullData helper function
Jay Multi SMAIt's strategy of swing & positional trades.. It's based on the concept of crossing of SMA with there diff length...
Multi Type RSI [Misu]█ This Indicator is based on RSI ( Relative Strength Index ) & multiple type of MA (Moving Average) to show different variations of RSI.
The relative strength index (RSI) is a momentum indicator used in technical analysis to evaluate overvalued or undervalued conditions in the price of that security.
█ Usages:
The purpose of this indicator is to obtain the RSI calculated with different MAs modes instead of the classic RMA.
The red and green zones indicate the oversold and overbought zones.
Buy or sell signals are marked by the green and red circles
We have 2 different signal modes : when the different size RSIs cross and when the fast RSI crosses the extreme bands.
Alerts are setup.
█ Parameters:
Lenght RSI: The lenght of the RSI. (14 by default)
RSI MA Type: The type of MA with which the rsi will be calculated. ("SMA", "EMA", "SMMA (RMA)", "WMA", "VWMA")
Fast Lenght MA: The fast lenght smoothing MA.
Slow Lenght MA: The Slow lenght smoothing MA.
Lower Band: The lenght of the lower band. (25 by default)
Upper Band: The lenght of the upper band. (75 by default)
Signal Type: The mode with which buy and sell signals are triggered. ("Cross 2 Mas", "Cross Ma/Bands")
Mtf Supertrend Table
english
It is a study of how the supertrend indicator looks on multiple timeframes. You can see the Supertrend direction in Multiple Timeframes by looking at the chart
Türkçe
supertrend indikatörünün çoklu zaman dilimdlerinde nasıl göründüğü yönünde bir çalışmadır. Tabloya bakarak Çoklu Zaman dilimlerinde Supertrend yönünü görebilirsiniz
MTF EMA Ribbon & Bands + BBMulti Timeframe Exponential Moving Average Ribbon & Bands + Boillinger Bands
I used the script "EMA Ribbon - low clutter, configurable " by adam24x, I made some color change and I added a few indicators (Boillinger Bands, EMA on multi timeframe and EMA bands from "34 EMA Bands " by VishvaP).
The script can display various EMA from the chart's timeframe but also EMA from other timeframes.
Bollinger Bands and EMA bands can also be added to the chart.
Value At Risk Channel [AstrideUnicorn]The Value at Risk Channel (VaR Channel) is a trading indicator designed to help traders control the level of risk exposure in their positions. The user can select a time period and a probability value, and the indicator will plot the upper and lower limits that the price can reach during the selected time period with the given probability.
CONCEPTS
The indicator is based on the Value at Risk (VaR) calculation. VaR is an important metric in risk management that quantifies the degree of potential financial loss within a position, portfolio or company over a specific period of time. It is widely used by financial institutions like banks and investment companies to forecast the extent and likelihood of potential losses in their portfolios.
We use the so-called “historical method” to compute VaR. The algorithm looks at the history of past returns and creates a histogram that represents the statistical distribution of past returns. Assuming that the returns follow a normal distribution, one can assign a probability to each value of return. The probability of a specific return value is determined by the distribution percentile to which it belongs.
HOW TO USE
Let’s assume you want to plot the upper and lower limits that price will reach within 4 hours with 5% probability. To do this, go to the indicator Settings tab and set the Timeframe parameter to "4 hours'' and the Probability parameter to 5.0.
You can use the indicator to set your Stop-Loss at the price level where it will trigger with low probability. And what's more, you can measure and control the probability of triggering.
You can also see how likely it is that the price will reach your Take-Profit within a specific period of time. For example, you expect your target level to be reached within a week. To determine this probability, set the Timeframe parameter to "1 week" and adjust the Probability parameter so that the upper or lower limit of your VaR channel is close to your Take-Profit level. The resulting Probability parameter value will show the probability of reaching your target in the expected time.
The indicator can be a useful tool for measuring and managing risk, as well as for developing and fine-tuning trading strategies. If you find other uses for the indicator, feel free to share them in the comments!
SETTINGS
Timeframe - sets the time period, during which the price can reach the upper or lower bound of the VaR channel with the probability, set by the Probability parameter.
Probability - specifies the probability with which the price can reach the upper or lower bound of the VaR channel during the time period specified by the Timeframe parameter.
Window - specifies the length of history (number of historical bars) used for VaR calculation.
OHLC MTFThe script allows you to plot the opening, highest, lowest and closing (ohlc) values of a previous candle.
Settings :
- "Time Frame" : allows you to choose the reference time frame;
- "Offset" : sets which candle to select the data from.
Ex : If you select "1 day" as the time frame and "1" as the offset, the OHLC values of yesterday's daily candle will be displayed (regardless of your current time frame).
Impactful pattern and candles pattern AlertThe Alertion indicator!
impactful pattern:
pattern that happen near the zone or in the zone at lower timeframe and give us entry and stop limit price.
It is helpful for price action traders and those who want to decrease their risk.
There are 3 IP patterns:
Quasimodo
Head and shoulder
whipsaw engulfing
These patterns may occur near the zone or may not occur but by them, you can decrease your trading risk for example you can
trade with half lot before IP pattern and enter with other half after pattern.
how to use?
for example:
you find zone at 1h timeframe for short position
when price enter to your zone
you run this indicator and choose your lower timeframe, for example 15m and click on short position.
Then make the alert by right-click on your chart and choose the add alert and at condition box choose the impactful pattern and then click on create
now wait for message :)
Candles pattern:
like reversal bar, key reversal bar, exhaustion bar, pin bar, two-bar reversal, tree-bar reversal, inside bar, outside bar
these occur when the trend turn, so it is usable when the price enter to your zone or near your zone.
This pattern can decrease your risk.
Inside bar and outside bar:
if this pattern engulf up, it is bullish pattern and if engulf down, it is bearish pattern.
what does this indicator do?
this indicator is for making alert
it helps you to decrease your risk and failure.
You optimize it to alert you when IP pattern happen or candle pattern happen or inside bar or outside bar engulfing or all of them.
For IP pattern, it will message you entry and stop limit price.
It works at 2 different timeframes, so you can make alert for example in 1h TF for candles pattern and 15m TF for IP pattern.
Indicator will alert you for candles pattern at your chart timeframe and for IP pattern at timeframe you've chosen when you run the indicator, and it is changeable
in setting.
setting options
TIMEFRAME
IP: select the timeframe for IP patterns it means when IP pattern happen at that timeframe the indicator will alert you
example = your TF is 1h, you found the supply zone and want to trade, note that IP pattern happen in lower TF, so you select 15m TF or TF lower than 1h.
Short position: select it if you want to make short position.
BUFFERING
indicator send you entry and stop limit price
you can change it by amount of percent
it is your strategy to change your entry and stop loss or not
example= in head and shoulder pattern at short position, the stop limit is high price of head in pattern
so the indicator will message you the exact price but if you want to put
your stop limit 5 percent upper than exact price you can enter 5 in front of stop loss
or you want to enter 5 percent lower than exact high price of shoulder, you can optimize it.
ALERTION
you choose what alert you want
IP alert or candle alert or inside and outside bar alert
type your text for alert
you can write additional text for your message
ADVANCE
IP alert frequency option:
1. Once per bar : indicator will alert you for IP pattern once at your chat timeframe bar, and you should wait til next bar for next alert.
2. Once per bar close : alert you when your chart timeframe bar closed and next alert will happen when next bar is closed.
3. All: alert you all the times IP pattern happen
pivot left and right bars: lower will find smaller pattern
at the END:
this indicator is not strategy
it is part of your strategy that help you to increase your winning rate.
It is helpful for scalping and candle patterns finding.
After you make an alert, you can delete the indicator or change your timeframe or make another alert, your previous alert won’t change.
Thank you all.
Multiple Moving Avg MTF TableThis script replaces the other script that was just the SMAs that where in a Multi Time Frame Table as this was a redo of that one and this one is SO MUCH MORE!!!!
Not only does this one do the Simple Moving Avg 5, 10, 20, 50, 120, 200 into a table that shows Current/Hourly/Daily/Weekly/Monthly/Quarterly ( 3M )/ Yearly. It now does Exponential Moving Avg , Weighted Moving Avg , and Volume Weight Moving Avg along with Simple Moving Avg.
I still use this script so that you can quickly capture the values so that short-term, and long-term resistance and support can be determined during market hours. Even better now you can select between SMA / EMA / WMA /or VWMA .
imgur.com
The table will change to the values based on the Choice of the type of Moving Avg and if you change the default values.
Now it will take a little bit for the table to show up, so please be patient. I have tested it with stocks, forex, and crypto.
SMA Multi Time Frame Table V1.5Since I couldn't find a script like this I made one so here is what it does.
The script will plot on the chart as well as post the related data into the table.
The default Simple Moving Avg are 5, 10, 20, 50, 120, 200 which can also be changed to whatever SMA you would like. The SMA values are then plotted on the charts so that quickly check to see where they are and how the candles are reacting to the SMAs.
Not only does the script plot the SMAs but it also places higher time frames into the table that is in the script, from current price, to daily, weekly, monthly, quarterly (3 months if you don't have it added) and yearly. The reason why was it price action of the stock does interact and can be rejected or find support from SMA on a higher time frames.
I still use this script so that you can quickly capture the values so that short-term, and long-term resistance and support can be determined during market hours.
Another good thing is that when you change the values in the script settings it also applies those settings to the table as well.
Now it will take a little bit for the table to show up, so please be patient. I have tested it with stocks, forex, and crypto.
I wanted to get this published and I am still working on the background to try and get EMAs. Where you can flip over to EMA to also see the EMA plots and table values for the MTF.
+ Multi-timeframe Multiple Moving Average LinesThis is a pretty simple script that plots lines for various moving averages (what I think are the most commonly used across all markets) of varying lengths of timeframes of the user's choosing. Timeframes range from 5 minutes up to one month, so regardless if you're a scalper or a swing trader there should be something here for you.
There are 8 lines (that can be turned on/off individually), which may seem like a lot, but if you use two averages and want to display four different timeframes for each, you can do that. The nice thing is that because the lines start plotting from the current bar they won't clutter up the screen. And obviously having moving averages from different timeframes on your chart makes price action more difficult to read (I mean sure, you can make them invisible, but who wants to do that all the time).
For each line there are two labels. One with the moving average type, and the other with its specific timeframe. I can't include the moving average length because it's not a string input. If anyone has a workaround for this, let me know, otherwise I would simply recommend setting different colors depending on the length, or if you only use one or two lengths and one or two moving averages this shouldn't be an issue. I had to use two labels because for the label text I couldn't include more than one string input, this is why there is an input for the 'moving average type label distance.'' You will want to adjust this depending on if you are trading crypto, futures, or forex because in some cases there may still be label overlap.
Pretty much everything else is self-explanatory.
I've added alerts. I might need to modify them if I can, because it would be nice for them to state the name and timeframe of the moving average. But I think this will do for now.
Enjoy!
Multi Price AlertSometimes you need set some alert at specific price levels on a chart.
Now you able to set ten different price levels to get alert at this prices.
With this Indicator also Basic Accounts can set more than one alert at price levels.
How to Use :
1- Enable Indicator on your Chart
2- Input your prices on Indicator Settings
3- Active Indicator Alert on 1m Chart (Select Multi Price Alert on Conditions Menu & Once Per Bar on Options)
5- Enjoy !
Notice : If change at prices, you should remove and reset Alert again.
Good trading to all ...
VWAP and previous VWAP for Support & Resistance for D W MI overhauled my old multi timeframe VWAP script to make the VWAP OC-Check work for all timeframes. Now only one function is used to calculate the 3 preset VWAPs.
Previous VWAPS = the price where the last session closed sometimes work as Support and Resistance.
The OC-Check Mode theory examines if the VWAP from the Open is above or below the VWAP from Close
and if price is above or below normal VWAP (HLC3).
This way we have 4 states:
Red = Strong Downtrend
Orange = Weak Downtrend
Blue = Weak Uptrend
Green = Strong Uptrend
As always it is just a theory - nothing is set in stone regarding any indicator.
Magnifying Glass (LTF Candles) by SiddWolf█ OVERVIEW
This indicator displays The Lower TimeFrame Candles in current chart, Like Zooming in on the Candle to see it's Lower TimeFrame Structure. It plots intrabar OHLC data inside a Label along with the volume structure of LTF candle in an eloquent format.
█ QUICK GUIDE
Just apply it to the chart, Hover the mouse on the Label and ta-da you have a Lower Timeframe OHLC candles on your screen. Move the indicator to the top and shrink it all the way up, because all the useful data is inside the label.
Inside the label: The OHLC ltf candles are pretty straightforward. Volume strength of ltf candles is shown at bottom and Volume Profile on the left. Read the Details below for more information.
In the settings, you will find the option to change the UI and can play around with Lower TimeFrame Settings.
█ DETAILS
First of all, I would like to thank the @TradingView team for providing the function to get access to the lower timeframe data. It is because of them that this magical indicator came into existence.
Magnifying Glass indicator displays a Candle's Lower TimeFrame data in Higher timeframe chart. It displays the LTF candles inside a label. It also shows the Volume structure of the lower timeframe candles. Range percentage shown at the bottom is the percentage change between high and low of the current timeframe candle. LTF candle's timeframe is also shown at the bottom on the label.
This indicator is gonna be most useful to the price action traders, which is like every profitable trader.
How this indicator works:
I didn't find any better way to display ltf candles other than labels. Labels are not build for such a complex behaviour, it's a workaround to display this important information.
It gets the lower timeframe information of the candle and uses emojis to display information. The area that is shown, is the range of the current timeframe candle. Range is a difference between high and low of the candle. Range percentage is also shown at the bottom in the label.
I've divided the range area into 20 parts because there are limitation to display data in the labels. Then the code checks out, in what area does the ltf candle body or wick lies, then displays the information using emojis.
The code uses matrix elements for each block and relies heavily on string manipulation. But what I've found most difficult, is managing to fit everything correctly and beautifully so that the view doesn't break.
Volume Structure:
Strength of the Lower TimeFrame Candles is shown at the bottom inside the label. The Higher Volume is shown with the dark shade color and Lower Volume is shown with the light shade. The volume of candles are also ranked, with 1 being the highest volume, so you can see which candle have the maximum to minimum volume. This is pretty important to make a price action analysis of the lower timeframe candles.
Inside the label on the left side you will see the volume profile. As the volume on the bottom shows the strength of each ltf candles, Volume profile on the left shows strength in a particular zone. The Darker the color, the higher the volume in the zone. The Highest volume on the left represents Point of Control (Volume Profile POC) of the candle.
Lower TimeFrame Settings:
There is a limitation for the lowest timeframe you can show for a chart, because there is only so much data you can fit inside a label. A label can show upto 20 blocks of emojis (candle blocks) per row. Magnifying Glass utilizes this behaviour of labels. 16 blocks are used to display ltf candles, 1 for volume profile and two for Open and Close Highlighter.
So for any chart timeframe, ltf candles can be 16th part of htf candle. So 4 hours chart can show as low as 15 minutes of ltf data. I didn't provide the open settings for changing the lower timeframe, as it would give errors in a lot of ways. You can change the timeframe for each chart time from the settings provided.
Limitations:
Like I mentioned earlier, this indicator is a workaround to display ltf candles inside a label. This indicator does not work well on smaller screens. So if you are not able to see the label, zoom out on your browser a bit. Move the indicator to either top or bottom of all indicators and shrink it's space because all details are inside the label.
█ How I use MAGNIFYING GLASS:
This indicator provides you an edge, on top of your existing trading strategy. How you use Magnifying Glass is entirely dependent on your strategy.
I use this indicator to get a broad picture, before getting into a trade. For example I see a Doji or Engulfing or any other famous candlestick pattern on important levels, I hover the mouse on Magnifying Glass, to look for the price action the ltf candles have been through, to make that pattern. I also use it with my "Wick Pressure" indicator, to check price action at wick zones. Whenever I see price touching important supply and demand zones, I check last few candles to read chart like a beautiful price action story.
Also volume is pretty important too. This is what makes Magnifying Glass even better than actual lower timeframe candles. The increasing volume along with up/down trend price shows upward/downward momentum. The sudden burst (peak) in the volume suggests volume climax.
Volume profile on the left can be interpreted as the strength/weakness zones inside a candle. The low volume in a price zone suggests weakness and High volume suggests strength. The Highest volume on the left act as POC for that candle.
Before making any trade, I read the structure of last three or four candles to get the complete price action picture.
█ Conclusion
Magnifying Glass is a well crafted indicator that can be used to track lower timeframe price action. This indicator gives you an edge with the Multi Timeframe Analysis, which I believe is the most important aspect of profitable trading.
~ @SiddWolf
MPF EMA Cross Strategy (8~13~21) by Market Pip FactoryThis script is for a complete strategy to win maximum profit on trades whilst keeping losses at a minimum, using sound risk management at no greater than 1.5%
The 3x EMA Strategy uses the following parameters for trade activation and closure.
1/ Daily Time Frame for trend confirmation
2/ 4 Hourly Time Frame for trend confirmation
3/ 1 Hourly Time Frame for trend confirmation AND trade execution
4/ 3x EMAs (Exponential Moving Averages)
* EMA#1 = 8 EMA (Red Color)
* EMA#2 = 13 EMA (Blue Color)
* EMA#3 = 21 EMA (Orange Color)
5/ Fanning of all 3x EMAs and CrossOver/CrossUnder for Trend Confirmation
6/ Price Action touching an 8 EMA for trade activation
7/ Price Action touching a 21 EMA for trade cancellation BEFORE activation
* For LONG trades: 8 EMA would be ABOVE 21 EMA
* For SHORT trades: 8 EMA would be BELOW 21 EMA
* For trade Cancellation, price action would touch the 21 EMA before trade is activated
* For trade Entry, price action would touch 8 EMA
Once trigger parameter is identified, entry is found by:
a) Price action touches 8 EMA (Candle must Close for confirmed Trade preparation)
b) Trade preparation can be cancelled before trade is activated if price action touches 21 EMA
c) Trailing Stop Loss can be used (optional) by counting back 5 candles from current candle
CLOSURE of a Trade is identified by:
e) 8 EMA crossing the 21 EMA, then close trade, no matter LONG or SHORT
f) Trail Stop Loss
IMPORTANT:
g) No more than ONE activated trade per EMA crossover
h) No more than ONE active trade per pair
NOTE: This strategy is to be used in conjunction with Cipher Twister (my other indicator) to reduce trades on
sideways price action and market trends for super high win ratio.
NOTE: Enabling of LONGs and SHORTs Via Cipher Twister is done by using the previous
green or red dot made. Additionally, when the trend changes, so do the dot's validity based
on being above or below the 0 centerline.
----------------------------
Strategy and Bot Logic
----------------------------
.....::: FOR SHORT TRADES ONLY :::.....
The Robot must use the following logic to enable and activate the SHORT trades:
Parameters:
$(crossunder)=8EMA,21EMA=Bearish $(crossover)=8EMA,21EMA=Bullish $entry=SELL STOP ORDER (Short)
$EMA#1 = 8 EMA (Red Color) $EMA#2 = 13 EMA (Blue Color) $EMA#3 = 21 EMA (Orange Color)
Strategy Logic:
1/ Check Daily Time Frame for trend confirmation if:
(look back up to 50 candles - find last cross of EMAs)
$(chart)=daily and trend=$(crossunder) then goto 2/ *Means: crossunder = ema21 > ema8
$(chart)=daily and trend=$(crossover) then stop (No trades) *Means: crossover = ema8 > ema21
NOTE: This function is switchable. 0=off and 1=on(active). Default = 1 (on)
2/ Check 4 Hourly Time Frame for trend confirmation if:
(look back up to 50 candles - find last cross of EMAs)
$(chart)=4H and trend=$(crossunder) then goto 3/ *Means: crossunder = ema21 > ema8
$(chart)=4H and trend=$(crossover) then stop (No trades) *Means: crossover = ema8 > ema21
NOTE: This function is switchable. 0=off and 1=on(active). Default = 1 (on)
3/ 1 Hourly Time Frame for trend confirmation AND trade execution if:
(look back up to 50 candles - find last cross of EMAs)
$(chart)=1H and trend=$(crossunder) then goto 4/ *Means: crossunder = ema21 > ema8
$(chart)=1H and trend=$(crossover) then stop (No trades) *Means: crossover = ema8 > ema21
4/ Trade preparation:
* if Next (subsequent) candle touches 8EMA, then set STOP LOSS and ENTRY
* $stoploss=3 pips ABOVE current candle HIGH
* $entry=3 pips BELOW current candle LOW
5/ Trade waiting (ONLY BEFORE entry is hit and trade activated):
* if price action touches 21 EMA then cancel trade and goto 1/
Note: Once trade is active this function does not apply !
6/ Trade Activation:
* if price activates/hits ENTRY price, then bot activates trade SHORTs market
7/ Optional Trailing stop:
* if active, then trailing stop 3 pips ABOVE previous HIGH of previous 5th candle
or * Move Stop Loss to Break Even after $X number of pips
NOTE: This means count back and apply accordingly to the 5th previous candle from current candle.
NOTE: This function is switchable. 0=off and 1=on(active). Default = 0 (off)
8/ Trade Close ~ Take Profit:
* Only TP when
$(chart)=1H and trend=$(crossover) then close trade ~ Or obviously if Stop Loss is hit if 7/ is activated.
----------END FOR SHORT TRADES LOGIC----------
.....::: FOR LONG TRADES ONLY :::.....
The Robot must use the following logic to enable and activate the LONG trades:
Parameters:
$(crossunder)=8EMA,21EMA=Bearish $(crossover)=8EMA,21EMA=Bullish $entry=BUY STOP ORDER (Long)
$EMA#1 = 8 EMA (Red Color) $EMA#2 = 13 EMA (Blue Color) $EMA#3 = 21 EMA (Orange Color)
Strategy Logic:
1/ Check Daily Time Frame for trend confirmation if:
(look back up to 50 candles - find last cross of EMAs)
$(chart)=daily and trend=$(crossover) then goto 2/ *Means: crossover = ema8 > ema21
$(chart)=daily and trend=$(crossunder) then stop (No trades) *Means: crossunder = ema21 > ema8
NOTE: This function is switchable. 0=off and 1=on(active). Default = 1 (on)
2/ Check 4 Hourly Time Frame for trend confirmation if:
(look back up to 50 candles - find last cross of EMAs)
$(chart)=4H and trend=$(crossover) then goto 3/ *Means: crossover = ema8 > ema21
$(chart)=4H and trend=$(crossunder) then stop (No trades) *Means: crossunder = ema21 > ema8
NOTE: This function is switchable. 0=off and 1=on(active). Default = 1 (on)
3/ 1 Hourly Time Frame for trend confirmation AND trade execution if:
(look back up to 50 candles - find last cross of EMAs)
$(chart)=1H and trend=$(crossover) then goto 4/ *Means: crossover = ema8 > ema21
$(chart)=1H and trend=$(crossunder) then stop (No trades) *Means: crossunder = ema21 > ema8
4/ Trade preparation:
* if Next (subsequent) candle touches 8EMA, then set STOP LOSS and ENTRY
* $stoploss=3 pips BELOW current candle LOW
* $entry=3 pips ABOVE current candle HIGH
5/ Trade waiting (ONLY BEFORE entry is hit and trade activated):
* if price action touches 21 EMA then cancel trade and goto 1/
Note: Once trade is active this function does not apply !
6/ Trade Activation:
* if price activates/hits ENTRY price, then bot activates trade LONGs market
7/ Optional Trailing stop:
* if active, then trailing stop 3 pips BELOW previous LOW of previous 5th candle
or * Move Stop Loss to Break Even after $X number of pips
NOTE: This means count back and apply accordingly to the 5th previous candle from current candle.
NOTE: This function is switchable. 0=off and 1=on(active). Default = 0 (off)
8/ Trade Close ~ Take Profit:
* Only TP when
$(chart)=1H and trend=$(crossunder) then close trade ~ Or obviously if Stop Loss is hit if 7/ is activated.
----------END FOR LONG TRADES LOGIC----------
IMPORTANT:
* If an existing trade is already open for that same pair, & price action touches 8EMA, do NOT open a new trade..
* bot must continuously check if a trade is currently open on the pair that triggers
* New trades are to be only opened if there is no active trade opened on current pair.
* Only 1 trade per pair rule !
* 5 simultaneous open trades (not same pairs) default = 5 but value can be changed accordingly.
* Maximum risk management must not exceed 1.5% on lot size
*** Some features are not yet available autoated, they will be added in due course in subsequent version updates ***
Multi-timeframe EMAThe Multi-timeframe exponential moving average (EMA) indicator visualizes EMAs from 1 minute to 1 quarter on a single chart using the request.security function. Standard and Fibonacci timeframes are available as well as the ability to hide high-timeframe EMAs to keep the chart clean. Cross-overs and arrangement of the EMAs indicate sentiment.
Much love to DumpCap! The script is presented sans secret sauce.
MultiTimeFrame Stochastic
Multi Time Frame Stochastic
Fast, medium, slow and Too slow stochastic of current time frame and higher time frame for creating view for buying or selling
How to use
1. For Divergence - price making higher high but stochastic making lower high or vice versa
2. choosing strategy - whether buy the dips or sell on rise
3. deciding whether downtrend or uptrend is over or not - higher time frame stochastic comes from over brought to oversold
High Probablity Buy trade
Higher time frame stoch oversold and divergence seen in chart and stoch and lower low forming stopped in chart and stoch
High Probablity sell trade
Higher time frame stoch overbought and divergence seen in chart and stoch and higher high stopped in chart and stoch
caution : it only go to 0 to 100 so some time it is overbought for long time the fall or vice versa, use it with other confirmation like price action or candlestick pattern
if you like the work
paytm donation id ----- 7001473382@paytm
MTF EMASMulti time frame EMA
This script will plot the configured EMAS on the current time frame (CTF) and also the same EMAS on a higher time frame (HTF).
Hard coded according:
* 5m EMAS will be plotted on TF bellow 5m
* Daily EMA will be plotted on TF above 5m and bellow 1D
* Weekly EMA will be plotted on daily TF
* Monthly EMA will be plotted on weekly TF
This configuration give us the opportunity to watch EMA support/resistance from HTF on the CTF
Joel on Crypto - MACD ScalpingJoel on Crypto - MACD Scalping
This is a Scalping indicator primarily intended for the 5 minute time frame.
It is based on the Crypto Scalping YouTuber Joel on Crypto's popular 5 minute scalping strategy and this is the indicator he personally use when Scalping.
This is a Multi-timeframe indicator where if you use it on the 5 minute time frame, the MACD Histogram bars will be based on the 1 minute timeframe.
The purpose of this indicator is not to trade it like a bot. The purpose is to grab the traders attention a time where there COULD be a scalping opportunity.
Use this indicator at your own risk.
MTF High LowThis is a Multi-Time Frame High Low Indicator that plots the highest and lowest price levels of the chart timeframe and a user selected higher timeframe.
The length can be optimized by the user from settings (default value is 6 candles) and table position can also be adjusted.
The calculation does not takes into account the last candle price data to form a view using the current close price as described below:
If Close > mid value of High + Low, view is Bullish
If Close < mid value of High + Low, view is Bearish
The above is also calculated for the higher timeframe and view for both timeframe is updated in the chart.
The color coding is dynamic based upon the current close price levels and comparisons with High, Low and Mid values.
The mid values level plot is hidden by default and can be enabled and saved as default if the user likes so.
