SFX Signals & Overlays [YinYangAlgorithms]SFX Signals & Overlays aims to help traders Identify Buy & Sell locations, Reversals, Volatility Zones, Support & Resistance and Overbought & Oversold Zones. All of these may work in harmony with each other by helping to identify when to enter and exit a trade; as well as helping to determine the risk / reward the trade may ensue.
SFX Signals & Overlays’s Buy & Sell signals are momentum based, meaning the Initial ‘Buy’ & ‘Sell’ signal may not be exactly where you want to get in/out. What may occur is the initial signal appears, a few more continuation signals appear afterwards (always in a chain); and once the momentum has ended a ‘Reversal’ signal appears. The reversal is there to help signify that the ‘opportune’ time to buy/sell may have passed and the price may now correct in the opposite direction. This Indicator aims to Buy Low and Sell High; and therefore the Buy signal momentum may occur as the price is either about to fall, currently falling or has started to consolidate. When the Buy signal momentum has ended, this means the momentum is at an impasse, but is favoring Buy momentum and a reversal (correction) may occur.
Buying & Selling at reversal signals may be profitable, however it may be less risky to DCA into your long / short positions during the Buy/Sell momentum signals instead. Let's get into the Tutorial so you can better understand how our SFX Signals & Overlays indicator works.
Tutorial:
Our example above showcases how our SFX Signals & Overlays Indicator looks on the default settings ‘Medium’ for each of our Algorithm Settings:
Trend Sensitivity
Signal Sensitivity
Zone Sensitivity
All of our Algorithm Settings feature 3 different speeds:
Fast
Medium
Slow
These speeds may be applied to each Algorithm Setting individually and affect how quickly they adapt to the current market's momentum. This allows you to tailor this Indicator to fit your trading style by adjusting it to meet your needs accordingly. If you are someone who likes to swing trade on the 1-5 minute timeframe, you may find better confluence with all settings on ‘Fast’. Medium term holders and traders may find better results with all settings on ‘Medium’. Likewise, long term investors may find best results with all settings on ‘Slow’. However, this shouldn’t stop you from finding your own best result by adjusting them individually to meet your own unique trading style.
SFX Signals & Overlays helps you identify shifts in momentum by displaying Momentum Signals. Momentum Signals are shown by either a Green or Red Triangle. Momentum Signals can continue for quite some time until the momentum has ended. We rank the first Momentum Signal from 1/5 to 5/5 for their strength and may help determine the chances of the momentum shift occurring. Once the Momentum Signals have ended we display a Reversal Signal. This Reversal Signal helps signify that the Momentum has ended. When the Momentum ends it means that a reversal may have started. This reversal may mean the price will continue in the direction the signal mentioned; or it may mean the price will consolidate. If the price consolidates then the signal is void as when the consolidation ends the price could go in either direction. If you notice consolidation occurring after a Reversal Signal; wait for more confirmations as it is now too risky.
Our Indicator displays different evaluations for each INITIAL Buy and Sell signal. These evaluations rank the current start of the signal from 1-5; 1 being the lowest and least reliable, 5 being the highest and most reliable. These rankings aren’t indefinite and are simply an evaluation at the time of the initial signal. We may potentially provide evaluations at the reversal later on if requested enough. When a Buy or Sell signal occurs this defines where momentum is occurring in this direction. This momentum is indicated by momentum signals shown through red / green triangles. These triangles indicate that this momentum is present. When these momentum signals end is when the Reversal Signal appears indicating that since this momentum has ended, there may be a decent chance of a reversal occurring. There also adherently may be the potential of consolidation occurring; but generally it means there is either a reversal, or consolidation + then a reversal or a continuation; however it may be apparent that the momentum has ended.
ES:
NQ:
BTC:
If you refer to the 3 examples above, we show how the ES, NQ and BTC look within a 5 minute scalping example. Essentially you’d make your decision on the Buy / Sell signal, the momentum signals, the Reversal Signals, the Trend Colors as well as other oscillators and Due Diligence.
Remember, there’s no such thing as a perfect entry / exit, the more you understand about trading and do your own Due Diligence the better. These Buy and Sell as well as Reversal signals attempt to locate and rank momentum shifts to help you identify where the momentum may be ending and reversing in the opposite direction.
Our zones defined by the Outer (red) and Inner (green) are representations of not only Support and Resistance locations, but likewise Overbought and Oversold locations. These zones help in multiple ways. The hard lines that define each zone's start / end are very useful locations of support / resistance which may indicate where the price will bounce off of. Likewise, when the price is within these zones it represents the price being Overbought or Oversold. Then the price is for instance within the Red Resistance Zone, what generally may happen is the price will correct quickly to get back to the ‘Black Empty Zone’ between the Red and Green zones; OR it may consolidate sideways until it has entered the ‘Black Empty Zone’. This is how the price may redeem itself back to being valued correctly. These zones help you identify and understand, in concatenation with our signals when and how much the price may move.
Our Settings are minimalistic so you don’t need to worry and get overwhelmed about changing values and trying to fiddle to find which values works the best for what. Our Algorithms will take care of all of that for you. Simply select the speeds for your Trend, Signals and Zones and you’re good to start trading! You can likewise customize what information is visible to you and the colors to better customize your experience.
Fast:
Medium:
Slow:
The 3 examples above display what the same portion of the chart looks like when Trend, Signal and Zone Sensitivity is changed from Fast, Medium and Slow.
As you can see, they all look quite different in the results they produce. By default all settings are set to Medium, however they can all be individually changed to suit your trading style and needs.
Our Indicator offers many different alert options which may help you stay informed with how the market is moving and any momentum changes that may occur.
Settings:
1. Algorithm Settings
Trend Sensitivity (Fast, Medium, Slow): Trend Sensitivity refers to how quickly the Trend Bar Colors change. Fast: will change colors very quickly if it senses momentum is changing. Medium: will change almost as quickly as Fast, however, rather than swapping from Bullish to Bearish momentum right away it has an intermediate 'Neutral - Slightly Bullish (Yellow)' and 'Neutral - Slightly Bearish (Orange)'. This way you can better visualize when the momentum is dying in the trend and starting back up by having these trend 'Neutral/Consolidation' areas. Slow: will attempt to only change Trend Bar Colors when the momentum has surely shifted. This may result in a bit of lagging behind.
Signal Sensitivity (Fast, Medium, Slow): Signal Sensitivity refers to how quickly the Buy & Sell Momentum Signals & Reversal Signals appear. These signals are meant to appear when it thinks the price may reverse, but the speeds refer to how much of a reversal they think may happen. Fast: will attempt to locate any and all momentum swings. Medium: will attempt to only locate momentum swings which may drive the price up considerably. Slow: will attempt to locate only the most extreme momentum swings. This may result in some potentially good ones missed however; but the ones it finds may have a higher probability of occuring.
Zone Sensitivity (Fast, Medium, Slow): Zone Sensitivity refers to how quickly the Zones expand based on price movement. These zones may be useful for not only seeing Support & Resistance; but also identifying when it is Overbought & Oversold; as well as visualizing volatility between the Black (Empty area) and the zones. The lines that separate each zone are the Support and Resistance locations; the area within the zones are simply the spacing between these Support and Resistance locations. However, the further the price is to the outer zones does represent Overbought and Oversold. Fast: will expand very quickly. This causes the price to be within the Black (Empty area) more often. This may be useful for finding extremities in price movement which may have a better chance of correcting. Medium: moves fast but not anywhere close to as fast as 'Fast'. Medium will hold its values in an attempt to be as accurate as possible for identifying Support and Resistance locations. Slow: will expand very slowly. This may be useful for identifying Support & Resistance as well as Volatility targets on higher time frames since these zones move much slower.
2. Display Settings:
Show Trend Bar Colors: Trend Bar Color are a way of seeing how the Trend is holding up on a bar by bar basis. This may be useful for seeing momentum starting, ending or simply dying down before any signals actually appear.
Signal Text Display (Both, Buy & Sell, Reversals, None: Signals are a way of seeing potential changes in momentum and when they have actually occurred. Our signals also rank from 1/5 to 5/5 how strong of a chance this momentum change may occur (only at the time of the signal, not at the time of the reversal). These may be useful as potential Entry and Exit locations; as well as when you see the reversal, you know that this momentum change has either begun or a consolidation may be occurring. If a consolidation occurs, the signal is no longer valid as the price can now go either way and it is best to wait for more signals or other technical analysis to determine momentum and movement.
Zone Display (All, Outer + Middle, Inner + Middle, Outer, Middle, Inner, None): Zones are composed of 3 areas above and below. These areas attempt to project Support & Resistance locations as well as display when the Price is Overbought and Oversold. You can specify which zones you wish to view, however all are important.
3. Color Settings:
Buy Color: This is the color of all Buy Signals and Zones.
Sell Color: This is the color of all Sell Signals and Zones.
Buy Reversal Color: This is the color of all Buy Signal Reversals.
Sell Reversal Color: This is the color of all Sell Signal Reversals.
If you have any questions, comments, ideas or concerns please don't hesitate to contact us.
HAPPY TRADING!
Overbought
Fibonacci Averages Trend OscillatorOverview:
The Fibonacci Averages Trend Oscillator is a unique technical indicator that leverages Fibonacci numbers to analyze market trends. It calculates the average trend sentiment over periods determined by Fibonacci numbers and smooths the result to create an oscillator.
Key Features:
Uses Fibonacci sequences for trend analysis.
Smooths the trend data to create a clear oscillator.
Offers adjustable oversold and overbought levels for customized analysis.
Inputs:
Max Fib Number: Select the highest Fibonacci number for trend calculation.
Smooth: Adjust the smoothness of the oscillator line.
Using the Oscillator:
A rising oscillator indicates a bullish trend, while a falling oscillator suggests bearish sentiment.
Oversold and overbought levels help identify potential reversal points.
Use the oscillator in conjunction with other indicators for comprehensive market analysis.
Tips for Effective Use:
Adjusting Fibonacci Levels: Experiment with different 'Max Fib Number' settings to find the one that best matches your trading style and the asset's characteristics. Higher Fibonacci numbers consider longer periods, which might be more suitable for long-term trend analysis.
Smoothing Level: The 'Smooth' input helps in reducing noise. A higher smooth level results in a less responsive but smoother line, which can be useful for identifying the overall trend direction.
Interpreting Overbought/Oversold: Watch for the oscillator reaching overbought or oversold levels. These points could signal potential trend reversals or consolidation phases.
Combination with Other Tools: For best results, combine the Fibonacci Averages Trend Oscillator with other technical tools like moving averages, RSI, or MACD to validate the signals and develop a robust trading strategy.
Conclusion:
The Fibonacci Averages Trend Oscillator offers a unique approach to trend analysis by incorporating Fibonacci numbers into its calculation. Its adjustable settings allow for customization to fit various trading styles and market conditions, making it a versatile tool for traders seeking to enhance their technical analysis capabilities.
Overbought / Oversold Screener## Introduction
**The Versatile RSI and Stochastic Multi-Symbol Screener**
**Unlock a wealth of trading opportunities with this customizable screener, designed to pinpoint potential overbought and oversold conditions across 17 symbols, with alert support!**
## Description
This screener is suitable for tracking multiple instruments continuously.
With the screener, you can see the instant RSI or Stochastic values of the instruments you are tracking, and easily catch the moments when they are overbought / oversold according to your settings.
The purpose of the screener is to facilitate the continuous tracking of multiple instruments. The user can track up to 17 different instruments in different time intervals. If they wish, they can set an alarm and learn overbought oversold according to the values they set for the time interval of the instruments they are tracking.**
Key Features:
Comprehensive Analysis:
Monitors RSI and Stochastic values for 17 symbols simultaneously.
Automatically includes the current chart's symbol for seamless integration.
Supports multiple timeframes to uncover trends across different time horizons.
Personalized Insights:
Adjust overbought and oversold thresholds to align with your trading strategy.
Sort results by symbol, RSI, or Stochastic values to prioritize your analysis.
Choose between Automatic, Dark, or Light mode for optimal viewing comfort.
Dynamic Visual Cues:
Instantly highlights oversold and overbought symbols based on threshold levels.
Timely Alerts:
Stay informed of potential trading opportunities with alerts for multiple oversold or overbought symbols.
## Settings
### Display
**Timeframe**
The screener displays the values according to the selected timeframe. The default timeframe is "Chart". For example, if the timeframe is set to "15m" here, the screener will show the RSI and stochastic values for the 15-minute chart.
** Theme **
This setting is for changing the theme of the screener. You can set the theme to "Automatic", "Dark", or "Light", with "Automatic" being the default value. When the "Automatic" theme is selected, the screener appearance will also be automatically updated when you enable or disable dark mode from the TradingView settings.
** Position **
This option is for setting the position of the table on the chart. The default setting is "middle right". The available options are (top, middle, bottom)-(left, center, right).
** Sort By **
This option is for changing the sorting order of the table. The default setting is "RSI Descending". The available options are (Symbol, RSI, Stoch)-(Ascending, Descending).
It is important to note that the overbought and oversold coloring of the symbols may also change when the sorting order is changed. If RSI is selected as the sorting order, the symbols will be colored according to the overbought and oversold threshold values specified for RSI. Similarly, if Stoch is selected as the sorting order, the symbols will be colored according to the overbought and oversold threshold values specified for Stoch.
From this perspective, you can also think of the sorting order as a change in the main indicator.
### RSI / Stochastic
This area is for selecting the parameters of the RSI and stochastic indicators. You can adjust the values for "length", "overbought", and "oversold" for both indicators according to your needs. The screener will perform all RSI and stochastic calculations according to these settings. All coloring in the table will also be according to the overbought and oversold values in these settings.
### Symbols
The symbols to be tracked in the table are selected from here. Up to 16 symbols can be selected from here. Since the symbol in the chart is automatically added to the table, there will always be at least 1 symbol in the table. Note that the symbol in the chart is shown in the table with "(C)". For example, if SPX is open in the chart, it is shown as SPX(C) in the table.
## Alerts
The screener is capable of notifying you with an alarm if multiple symbols are overbought or oversold according to the values you specify along with the desired timeframe. This way, you can instantly learn if multiple symbols are overbought or oversold with one alarm, saving you time.
CARNAC Elasticity IndicatorThe CARNAC Elasticity Indicator (EI) is a technical analysis tool designed for traders and investors using TradingView. It calculates the percentage deviation of the current price from an Exponential Moving Average (EMA) and helps traders identify potential overbought and oversold conditions in a financial instrument.
Key Features:
EMA Length: Users can customize the length of the Exponential Moving Average (EMA) used in the calculations by adjusting the "EMA Length" parameter in the indicator settings.
Percentage Deviation: The indicator calculates the percentage deviation of the current price from the EMA. Positive values indicate prices above the EMA, while negative values indicate prices below the EMA.
Maximum Deviations: The indicator tracks the maximum positive (above EMA) and negative (below EMA) percentage deviations over time, allowing traders to monitor extreme price movements.
Bands: Upper and lower bands are displayed on the indicator chart at 100 and -100, respectively. Additionally, dashed middle bands at 50 and -50 provide reference points for moderate deviations.
Dynamic Color Coding: The indicator uses dynamic color coding to highlight the current percentage deviation. It turns red for values above 50 (indicating potential overbought conditions), green for values below -50 (indicating potential oversold conditions), and purple for values in between.
How to Use:
Overbought Conditions: Watch for the percentage deviation to cross above 50, indicating potential overbought conditions. This might be a signal to consider selling or taking profits.
Oversold Conditions: Look for the percentage deviation to cross below -50, signaling potential oversold conditions. This could be an opportunity to consider buying or entering a long position.
Historical Extremes: Keep an eye on the upper and lower bands (100 and -100) to identify historical extremes in percentage deviation.
The CARNAC Elasticity Indicator can be a valuable tool for traders seeking to identify potential trend reversals and assess the strength of price movements. However, it should be used in conjunction with other technical analysis tools and risk management strategies for comprehensive trading decisions.
Machine Learning: STDEV Oscillator [YinYangAlgorithms]This Indicator aims to fill a gap within traditional Standard Deviation Analysis. Rather than its usual applications, this Indicator focuses on applying Standard Deviation within an Oscillator and likewise applying a Machine Learning approach to it. By doing so, we may hope to achieve an Adaptive Oscillator which can help display when the price is deviating from its standard movement. This Indicator may help display both when the price is Overbought or Underbought, and likewise, where the price may face Support and Resistance. The reason for this is that rather than simply plotting a Machine Learning Standard Deviation (STDEV), we instead create a High and a Low variant of STDEV, and then use its Highest and Lowest values calculated within another Deviation to create Deviation Zones. These zones may help to display these Support and Resistance locations; and likewise may help to show if the price is Overbought or Oversold based on its placement within these zones. This Oscillator may also help display Momentum when the High and/or Low STDEV crosses the midline (0). Lastly, this Oscillator may also be useful for seeing the spacing between the High and Low of the STDEV; large spacing may represent volatility within the STDEV which may be helpful for seeing when there is Momentum in the form of volatility.
Tutorial:
Above is an example of how this Indicator looks on BTC/USDT 1 Day. As you may see, when the price has parabolic movement, so does the STDEV. This is due to this price movement deviating from the mean of the data. Therefore when these parabolic movements occur, we create the Deviation Zones accordingly, in hopes that it may help to project future Support and Resistance locations as well as helping to display when the price is Overbought and Oversold.
If we zoom in a little bit, you may notice that the Support Zone (Blue) is smaller than the Resistance Zone (Orange). This is simply because during the last Bull Market there was more parabolic price deviation than there was during the Bear Market. You may see this if you refer to their values; the Resistance Zone goes to ~18k whereas the Support Zone is ~10.5k. This is completely normal and the way it is supposed to work. Due to the nature of how STDEV works, this Oscillator doesn’t use a 1:1 ratio and instead can develop and expand as exponential price action occurs.
The Neutral (0) line may also act as a Support and Resistance location. In the example above we can see how when the STDEV is below it, it acts as Resistance; and when it’s above it, it acts as Support.
This Neutral line may also provide us with insight as towards the momentum within the market and when it has shifted. When the STDEV is below the Neutral line, the market may be considered Bearish. When the STDEV is above the Neutral line, the market may be considered Bullish.
The Red Line represents the STDEV’s High and the Green Line represents the STDEV’s Low. When the STDEV’s High and Low get tight and close together, this may represent there is currently Low Volatility in the market. Low Volatility may cause consolidation to occur, however it also leaves room for expansion.
However, when the STDEV’s High and Low are quite spaced apart, this may represent High levels of Volatility in the market. This may mean the market is more prone to parabolic movements and expansion.
We will conclude our Tutorial here. Hopefully this has given you some insight into how applying Machine Learning to a High and Low STDEV then creating Deviation Zones based on it may help project when the Momentum of the Market is Bullish or Bearish; likewise when the price is Overbought or Oversold; and lastly where the price may face Support and Resistance in the form of STDEV.
If you have any questions, comments, ideas or concerns please don't hesitate to contact us.
HAPPY TRADING!
Digital Market Insight's Dream IndicatorWhy the Digital Market Insight’s Dream Indicator Blends Sixteen Technical Indicators
Analyzing markets can be overwhelming with so many technical indicators available. Choosing the right ones and combining them effectively can be a challenge. This indicator simplifies this by leveraging the power of collaboration.
Unleashing the power of automation, Digital Market Insight's Dream Indicator simplifies both day trading and long-term investing by automatically generating buy and sell signals.
This user-friendly indicator simplifies everything, making it easy to identify profitable trades where other indicators usually fall short.
Instead of relying on a few popular indicators, the Digital Market Insight’s Dream Indicator incorporates sixteen diverse metrics. Each offers unique insights into different aspects of market behavior, giving you a complete picture that goes beyond what any single indicator can provide.
Combining indicators that analyze trends, momentum, volume, and volatility allows you to see the market from different angles. This combination creates a powerful tool that can uncover opportunities missed by traditional indicators.
Digital Market Insight’s Dream Indicator uses sophisticated algorithms to balance the influence of each individual indicator. This ensures that no single metric dominates the analysis, providing a more objective perspective.
In short, Digital Market Insight’s Dream Indicator makes the complex task of choosing and combining indicators seamless and automated. This allows traders of all experience levels to benefit from powerful technical analysis, unlocking potentially profitable opportunities they might have missed otherwise.
Leveraging sixteen popular technical indicators, the Dream Indicator from Digital Market Insight meticulously dissects trends, momentum, volume, and volatility to offer comprehensive market insights. Inspired by the Relative Strength Index (RSI), it scales these indicators and identifies breakouts with optimized overbought and underbought thresholds. This combined data is compared to the security, generating a divergence line. The line's magnitude and speed are monitored, leading to the creation of buy and sell signals.
The following is a list of the sixteen indicators that it tracks:
• Parabolic SAR
• Directional Movement Index
• Chande Momentum Oscillator
• Commodity Channel Index
• Volume-Weighted Average Price
• On-Balanced Volume
• Money Flow Index
• Relative Strength Index
• Moving average convergence divergence
• Bollinger Band
• Stochastic
• True Strength Index
• Chaikin Money Flow
• Williams %R
• Sentiment
• Supertrend
While the combination of technical indicators is intriguing, the Dream Indicator's true power lies in its dynamic false signal suppression settings. This system can adapt to frequent market changes in real-time, allowing for a nuanced understanding of market direction. Imagine a rapid price swing triggered by a news announcement. While other indicators provide static signals, the Dream Indicator takes a dynamic approach. By offering multiple adjustable factors, it allows users to customize the indicator to their specific needs and preferences, potentially revealing deeper insights into market trends.
The following is the list of suppression settings:
• Suppress Using an SMA Window? Size?
This suppresses when the security price varies outside a simple moving average window. The window size can be adjusted.
• Suppress Using Supertrend Direction? Factor?
This suppresses when the Supertrend’s direction, increasing or decreasing, is contrary to the security’s gain. The Supertrends factor can be adjusted.
• Suppress Using Security ROC? ROC?
This suppresses when the security’s rate of change (ROC) is above a selectable value.
• Suppress Unfavorable Convergence/Divergence?
The buy alert is suppressed when the faster exponential moving average is less than the slower exponential moving average for both the sentiment and standard MACD. The sell alert is suppressed when the slower exponential moving average is less than the faster exponential moving average for both the sentiment and standard MACD.
• Suppress Unfavorable Trending Sentiment?
This suppresses buy alerts when the sentiment value is lowering and its value is currently below zero. This suppresses sell alerts when the sentiment value is rising and its value is currently above zero.
• Suppress Using Contrary Accumulated Forecast?
Suppress when the combined buy/sell signal is contrary to the security trend.
• Don’t Suppress First Alert?
Always Display First Alert.
How to use:
1. Activate the Indicator:
• Add the Digital Market Insight’s Dream Indicator.
• Select a security.
• Adjust the Alert Frequency, if desired.
• Configure the ATR Multiplier for optimal trailing stop orders, if desired.
2. Set audible alerts, if desired:
1. Select a security and adjust settings if you haven’t yet.
2. Select Alert at the top of the TradingView window or press + .
3. Select Digital Market Insight’s Dream Indicator across from Condition.
4. Select Alert for Buy across from Condition.
5. Select Once Per Bar Close across from Trigger.
6. Select Notifications at the top of the Create Alert window.
7. Select the Play sound checkbox.
8. Select the Create button at the bottom of the Create Alert window.
9. Repeat steps 2–8, substituting Alert for Sell in step 4.
3. Watch displayed information for opportunities:
• Circle Alerts: Green circles indicate buy signals, red ones signal sell opportunities. Larger circles are audible, providing immediate trading prompts.
• SMA Gain: This metric reflects the average profit potential per trade, assuming a sideways trend.
4. Utilize False-Signal Suppression:
• Select the appropriate false-signal suppression methods based on your trading strategy and risk tolerance.
• Monitor the SMA Gain and Circle Alerts as you adjust these settings to see their impact.
• Eliminate misleading signals and gain a clearer picture of the market.
5. Combine with Other Indicators:
• Consider displaying the Sentiment MACD and Divergence RSI for further insights.
• Utilize these additional indicators alongside Dream Indicator's signals for a more comprehensive analysis.
The following describes the displayed information and how to use it. It is in three levels: location/displayed text/description.
Upper Left/Week:/
Displays week gain.
Upper Left/Day:/
Displays day’s gain.
Upper Left/SMA:/
Displays SMA’s gain. The SMA gain is calculated from the average difference between the buy and sell alerts and a simple moving average. This makes it easy to compare differences between securities and setting changes. Basically, the SMA gain is the average profit that can be expected from a single buy sell trade, assuming that the security is trending sideways. Note: With a free TradingView account, the data will be limited, and therefore this value will be less accurate.
Upper Center/Misc. text/
A variety of security information is displayed here, including description, country, type, sector, and industry. The analyst's recommendation is also displayed when selected in the settings section.
Upper Right/ #🕪⚠:/
Displays number of audible alerts. This shows how many audible alerts you’ll get per day on average for the selected security. You will see this number change as you adjust the Alert Frequency setting in the indicator settings section.
Lower Right/ ATR × X.X:/
Displays the Average True Range (ATR) multiplied by a multiplier that is located in the indicator settings section. The upper and lower ATR values are also displayed. The Average True Range is a measure of price volatility and can be used for things like trailing stop orders. Place your stop-loss order a multiple of the ATR below your entry price for long trades and above your entry price for short trades. This will give your trade some room to breathe while still protecting you from significant losses. Adjust the multiple based on market volatility. In more volatile markets, use a larger multiple to account for potentially wider price swings.
The following is a description of important items in the indicator settings section:
--- MISC. SETTINGS ---
Alert Frequency
Alert Frequency will increase or decrease both the displayed alerts and audible alerts. This is one of the more important indicator settings and should be adjusted according to your investing style. If you have a large number of active alerts, you may want to reduce the alert frequency to avoid being overwhelmed. However, if you set this too low, you may miss some trading opportunities.
ATR Multiplier
The ATR multiplier is a multiplier for the Average True Range which is described above. It can help with finding trailing stop order values.
Use Sentiment Coloring
This changes the color of some graphs to a color gradient, indicating the security's sentiment, and may help you identify trend changes.
Sentiment Calc Index
This setting mainly affects the sentiment color scheme and the displayed sentiment graph. Adjust it to match the index in which the security is traded. You can find it at the top left of the TradingView window.
Display Analyst’s Recommendations
This will display the analyst's recommendations and could be handy when unsure whether a security is worth investing in. :-)
--- GRAPH DISPLAY SETTINGS ---
These are additional graphs that can be displayed and can be a valuable addition to your investing. Consider displaying the Sentiment MACD and the Divergence RSI which are both variations of the standard MACD and RSI indicators.
--- FALSE ALERT SUPPRESSION ---
These settings will allow suppression of false signals and are an important feature of this indicator. They will manipulate the gain. Watch the displayed SMA Gain and Circle Alerts as you toggle some of these settings. Some Circle Alerts will appear or vanish, and the SMA Gain will change. Remember, the larger circle alerts are the only ones that will be audible. Both small and large circles indicate a buy or sell alert: green for buy and red for sell.
Disclaimer:
This is not Investment Advice. Trading involves inherent risks, and all decisions should be made at your own discretion.
Easy To Trade indicatorAbstract
This script evaluates how easy for traders to trade.
This script computes the level that the gains were distributed in many trading days.
We can use this indicator to decide the instruments and the time we trade.
Introduction
Why we think the trading markets are boring?
It is because most of the gains were concentrated in a few trading days.
We look for instruments we can buy at support and sell at resistance frequently and repeatedly.
However, it does not happen usually because it is difficult to find sellers sell at support and buyers buy at resistance.
This script is a method to measure if an instrument is difficult to trade.
If most of the gains were concentrated in a few trading days, this script says it is difficult to trade.
If gains were distributed in many trading days and we can buy low and sell high repeatedly, this script says it is easy to trade.
Therefore, this script measure how difficult for us to trade by the ratio between the area of value and the total gain.
How it works
1. Determine the instruments and time frames we are interested in.
2. Determine how many days this script evaluate the result. This number may depend on how many days from you buy in to you sell out.
3. If the instrument you choose is easy to trade, this script reports higher values.
4. If the instrument is long term bullish, the number "easy to invest" is usually higher than the number "easy to short" .
5. We can consider trade instruments which are easier to trade than others.
6. We can consider wait until the period that it is difficult to trade has past or keep believing that some instruments are easier to trade than others.
Parameters
x_src = The price for each trading day this script use. It may be open , high , low , close or their combination.
x_is_exp = Whether this script evaluate the price movement in exponential or logarithm. You are advised to answer yes if the price changes drastically.
x_period = How many days this script evaluate the result.
Conclusion
With this indicator , we have data to explain how easy or difficult an instrument is for traders . In other words , if we hear some people say the trading markets are boring or difficult for traders , we can use this indicator to verify how accurate their comments are.
With this explainable analysis , we have more knowledge about which instruments and which sessions are relative easy for us to buy low and sell high repeatedly and frequently , we can have better proceeding than buy and hold simply.
BUY/SELL RSI FLIUX v1.0The "BUY/SELL RSI FLUX v1.0" indicator is designed to provide buy and sell signals based on the RSI (Relative Strength Index) and price action in relation to support and resistance levels. It overlays directly on the price chart and includes the following components:
- Support and Resistance Levels: Determined over a specified number of bars (lengthSR), these levels represent potential barriers where price action may stall or reverse.
- ATR (Average True Range): Used to measure market volatility. While it's calculated in the script, it's not visualized on the chart as per the latest modification.
- RSI: The RSI is calculated over a defined period (lengthRSI) and is used to identify overbought or oversold conditions. Buy signals are generated when the RSI is below the oversold threshold (rsiOversold) and the price is above the support level. Conversely, sell signals occur when the RSI is above the overbought threshold (rsiOverbought), the price is below the resistance level, and additionally, the price is below a long-term moving average, which acts as a trend filter.
- Long-Term Moving Average: This moving average is plotted to help identify the prevailing market trend. Sell signals are filtered based on the price's position in relation to this moving average.
- Buy/Sell Signals: Visual representations in the form of shapes are plotted below (for buy) or above (for sell) the price bars to indicate potential entry points.
By combining these elements, the indicator aims to provide high-probability trading signals that align with both the market's momentum and trend.
Z-Score - AsymmetrikZ-Score-Asymmetrik User Manual
Introduction
The Z-Score Indicator is a powerful tool used in technical analysis to measure how far a data point is from the mean value of a dataset, measured in terms of standard deviations. This indicator helps traders identify potential overbought or oversold conditions in the market.
This user manual provides a comprehensive guide on how to use the Z-Score Indicator in TradingView.
0. Quickstart
- Set the thresholds based on your asset (number of standard deviations that you consider being extreme for this asset / timeframe).
- Red background indicates a possible overbought situation, green background an oversold one.
- The color and direction of the Z-Score Line acts as a confirmation of the trend reversal.
1. Indicator Overview
The Z-Score Indicator, also known as the Z-Score Oscillator, is designed to display the Z-Score of a selected financial instrument on your TradingView chart. The Z-Score measures how many standard deviations an asset's price is from its mean (average) price over a specified period.
The indicator consists of the following components:
- Z-Score Line: This line represents the Z-Score value and is displayed on the indicator panel.
- Background Color: The background color of the indicator panel changes based on user-defined thresholds.
2. Inputs
The indicator provides several customizable inputs to tailor it to your specific trading preferences:
- Number of Periods: This input allows you to define the number of periods over which the Z-Score will be calculated. A longer period will provide a smoother Z-Score line but may be less responsive to recent price changes.
- Z-Score Low Threshold: Sets the lower threshold value for the Z-Score. When the Z-Score crosses below this threshold, the background color of the indicator panel changes accordingly.
- Z-Score High Threshold: Sets the upper threshold value for the Z-Score. When the Z-Score crosses above this threshold, the background color of the indicator panel changes accordingly.
3. How to Use the Indicator
Here are the steps to use the Z-Score Indicator:
- Adjust Parameters: Modify the indicator's inputs as needed. You can change the number of periods for the Z-Score calculation and set your desired low and high thresholds.
- Interpret the Indicator: Observe the Z-Score line on the indicator panel. It fluctuates above and below zero. Pay attention to the background color changes when the Z-Score crosses your specified thresholds.
4. Interpreting the Indicator
- Z-Score Line: The Z-Score line represents the current Z-Score value. When it is above zero, it suggests that the asset's price is above the mean, indicating potential overvaluation. When below zero, it suggests undervaluation.
- Background Color: The background color of the indicator panel changes based on the Z-Score's position relative to the specified thresholds. Green indicates the Z-Score is below the low threshold (potential undervaluation), while red indicates it is above the high threshold (potential overvaluation).
- Z-Score Line Color: The color of the Z-Score line shows that the Z-Score is trending up compared to its moving average. This can be used as a validation of the background color.
5. Customization Options
You can customize the Z-Score Indicator in the following ways:
- Adjust Inputs: Modify the number of periods and the Z-Score thresholds.
- Change Line and Background Colors: You can customize the colors of the Z-Score line and background by editing the indicator's script.
6. Troubleshooting
If you encounter any issues while using the Z-Score Indicator, make sure to check the following:
- Ensure that the indicator is applied correctly to your chart.
- Verify that the indicator's inputs match your intended settings.
- Contact me for more support if needed
7. Conclusion
The Z-Score Indicator is a valuable tool for traders and investors to identify potential overbought and oversold conditions in the market. By understanding how the Z-Score works and customizing it to your preferences, you can integrate it into your trading strategy to make informed decisions.
Remember that trading involves risk, and it's essential to combine technical indicators like the Z-Score with other analysis methods and risk management strategies for successful trading.
RSI Heatmap Screener [ChartPrime]The RSI Heatmap Screener is a versatile trading indicator designed to provide traders and investors with a deep understanding of their selected assets' market dynamics. It offers several key features to facilitate informed decision-making:
█ Custom Asset Selection:
The user can choose up to 30 assets that you want to analyze, allowing for a tailored experience.
█ Adjustable RSI Length:
Customize your analysis by adjusting the RSI length to align with your trading strategy.
█ RSI Heatmap:
The heatmap feature uses various colors to represent RSI values:
█ Color coding for labels:
Grey: Signifies a neutral RSI, indicating a balanced market.
Yellow: Suggests overbought conditions, advising caution.
Pale Red: Indicates mild overbought conditions in a strong area.
Bright Red: Represents strong overbought conditions, hinting at a potential downturn.
Pale Green: Signals mild oversold conditions with signs of recovery.
Dark Green: Denotes full oversold conditions, with potential for a bounce.
Purple: Highlights extremely oversold conditions, pointing to an opportunity for a relief bounce.
█ Levels:
Central Plot and Zones: The central plot displays the average RSI of the selected assets, offering an overview of market sentiment. Overbought and oversold zones in red and green provide clear reference points.
█ Hover Labels:
Hover over an asset to access details on various indicators like VWAP, Stochastic, SMA, TradingView ranking, and Volume Rating. Bullish and bearish indicators are marked with ticks and crosses, and a fire emoji denotes heavily overextended assets.
█ TradingView Ranking:
Utilize the TradingView ranking metric to assess an asset's performance and popularity.
Thank you to @tradingview for this ranking metric.
█ Volume Rating:
Gain insights into trading volumes for more informed decision-making.
█ Oscillator at the Bottom:
The RSI average for the entire market, presented in a normalized format, offers a broader market perspective. Green indicates a favorable buying area, while red suggests market overextension and potential short or sell opportunities.
█ Heatmap Visualization:
Historical RSI values for each selected asset are displayed. Red indicates overbought conditions, while green signals oversold conditions, helping you spot trends and potential turning points.
This screener is designed to make entering the market simpler and more comprehensive for all traders and investors.
Quantum Market Strength Indicator (MSI)The Market Strength Indicator (MSI) is yet another in our stable of volume-based indicators, and as such, is a must-have tool for trading virtually any type of market and across a myriad of applications from trend trading to swing trading, scalping, and much more. While its sister indicator, the Currency Strength Indicator (CSI), helps you analyze which currencies are oversold, overbought, correlating, and trending, the MSI or Market Strength Indicator does this also, but in this case, for all markets, including stocks, ETFs, futures, and cryptocurrencies, but with one key difference – VOLUME.
As with our core methodology of volume price analysis, volume adds an entirely new dimension to trading analysis as it reveals the driving pressure behind the price action, be it strong or weak, which are all factored into the algorithm that drives the Market Strength Indicator. But with the MSI indicator, its use and application is only limited by your imagination.
For example, we can use it to see which markets are correlating and which are not so that we might use it as an intraday tool for index futures. And, of course, with knowledge gained from the stock trading and investing program, we could then further validate any analysis by setting each against the top five market cap stocks, for confirmation of strength and to give us more confidence in trading an index future.
And not just index futures, but any futures you care to consider, such as energy, metals, softs, currencies or anything else.
For day traders of stocks, you might wish to see which are correlating with one another and which are not, for example, if you are pairs trading, and also whether a particular stock is moving with the primary futures index. If not, this may be a warning sign. And of course, for ETF traders, we have the SPY, a host of ETFs, and alongside them, the sectors, such as the XLK, the XLE, and more, giving you an instant and powerful insight into sentiment across the entire market complex.
The Market Strength Indicator has much to offer; whether you are a stock investor or day trading scalper, index or ETF trader, swing trader or trend trader, it is all here as the indicator signals in a clear and intuitive way when a stock, future or ETF is overbought or oversold in all timeframes, giving you that potent insight into potential reversals from strong to weak and back again. If you enjoy getting into a trend early and trading reversals, then this is the indicator for you, but if you prefer trading trends – no problem, just jump aboard once the move has some momentum and is underway as displayed by the steepness of the line on the indicator.
It’s all here and so much more, from market correlations to market strength and weakness and in all the timeframes from seconds to months.
And just like its sister indicator, the CSI, the MSI is an oscillator that moves seamlessly from overbought to oversold and back again between a value of 100 at the top and zero at the bottom, with each instrument or market represented with a single-colored line. To help further, we’ve included two regions on the indicator to represent these states at 70 and 30, respectively, but you can change these accordingly and perhaps extend them further to 80 and 20. These levels are purely intended as guides to help provide additional information as to the market state and a potential reversal in due course.
Now, in a single indicator, you have the opportunity to gauge sentiment across multiple markets, whether these are correlating or not, and from there develop a myriad of trading opportunities, or alternatively give you that all-important confidence to dive in, or maintain an existing position. Through its unique algorithm based on volume, it is another indicator only limited by your imagination, and like all our other indicators, one we urge you to use in multiple timeframes.
RSI Trend Detector PSAR BasedRSI Trend Detector is based on the Direction of PSAR. This indicator helps the easy detection of Trend Direction and Sideways Movement of Price. It was difficult to determine the RSI Trend Direction in a basic RSI indicator. one cannot decide the exact entry point where to enter.
RSI Trend Detector helps with the direction of trend using PSAR direction which is almost instant direction changing indicator with Zero Lag. The color of the RSI changes immediately based on PSAR direction. One can determine the trend whether its in UP / Down or Sideways.
One can easily detect Pullback and entry points using this indicator.
The basic working can be interpreted with a normal default RSI, The only additional feature is the direction of trend using a SAR signal.
Oversold Zone is below 30
Overbought Zone is above 70
how ever RSI above 50 is treated a UP trend and Below 50 as Down Trend.
when RSI is between 40 and 60 price must be considered as Sideways. One can easily interpret the TREND.
Yellow Line = RSI Moving Average
RED and Green Line= RSI
Grey Zone = Sideways
Horizontal line = RSI level 50
Settings can be changed as required.
RSI Line:
RSI Above 50 up trend and Entry when color is green
RSI Below 50 down trend and Entry when color is Red
RSI in Grey Zone is sideways, wait for a breakout
RSI above 50 and color is red then its a pullback in uptrend
RSI below 50 and color is green then its a pullback in downtrend
ALERTS:
Up signal and Down Signal are provided when ever RSI crosses RSIMA
Up Signal: RSI crosses RSI Moving Average upwards
Down Signal: RSI crosses RSI Moving Average Downwards
Hope the Tradingview community likes this.
Investor Satisfaction/Price Divergence Pro [Ox_kali]The "Investor Satisfaction/Price Divergence" is an indicator designed to quantify and juxtapose the satisfaction of a group of investors with potential price divergences of the asset.
The primary goal of this indicator is to provide a reliable tool for gauging investor sentiment and identifying price divergences. These insights can be instrumental in predicting possible market trend reversals.
Key Features
Calculation of the highest and lowest prices over a user-defined period.
Computation of the average satisfaction of investors who have invested over a user-defined period.
Normalization of average satisfaction between 0 and 1 to provide a standardized measure of investor sentiment.
Identification of price divergence between the normalized satisfaction and the actual asset price.
Detection of anomalies in satisfaction change, which can suggest unusual market conditions.
Plotting histogram display of the difference between normalized satisfaction and price divergence.
Functionality Analysis:
This indicator begins by identifying the highest and lowest prices over a period defined by the user. It then calculates the average investor satisfaction based on the change in the closing price from the investment point to the current price, relative to the range between the highest and lowest prices.
This satisfaction measure is then normalized between 0 and 1, providing a uniform measure of investor sentiment. The indicator also identifies potential price divergence by comparing the normalized satisfaction with the normalized price. This divergence is then plotted as a histogram, with the color of the histogram bars indicating whether the market is oversold, overbought, or in a normal state. Anomalies in satisfaction change are highlighted in yellow, helping traders to spot unusual market behavior.
Trading Application
The "Investor Satisfaction & Price Divergence" indicator can be incorporated into a variety of trading strategies. A significant divergence between normalized satisfaction and the asset price can signal a potential market reversal. Additionally, a sudden drop or rise in investor satisfaction could indicate a sell-off or a buying spree, respectively. Additionally, the capability to spot irregularities in satisfaction change may be useful in recognizing unusual market conditions, possibly providing early indications of noteworthy market events
Please note that the investor Satisfaction/Price Divergence by Ox_kali is provided for educational purposes only and is not meant to constitute financial advice. This indicator is not a guarantee of future market performance and should be used in conjunction with proper risk management. Always ensure that you have a thorough understanding of the indicator’s methodology and its limitations before making any investment decisions. Additionally, past performance is not indicative of future results.
Williams %R with EMA'sThe provided Pine Script code presents a comprehensive technical trading strategy on the TradingView platform, incorporating the Williams %R indicator, exponential moving averages (EMAs), and upper bands for enhanced decision-making. This strategy aims to help traders identify potential buy and sell signals based on various technical indicators, thereby facilitating more informed trading decisions.
The key components of this strategy are as follows:
**Williams %R Indicator:** The Williams %R, also known as the "Willy," is a momentum oscillator that measures overbought and oversold conditions. In this code, the Williams %R is calculated with a user-defined period (default 21) and smoothed using an exponential moving average (EMA).
**Exponential Moving Averages (EMAs):** Two EMAs are computed on the Williams %R values. The "Fast" EMA (default 8) responds quickly to price changes, while the "Slow" EMA (default 21) provides a smoother trend-following signal. Crossovers and divergences between these EMAs can indicate potential buy or sell opportunities.
**Candle Color Detection:** The code also tracks the color of candlesticks, distinguishing between green (bullish) and red (bearish) candles. This information is used in conjunction with other indicators to identify specific trading conditions.
**Additional Upper Bands:** The script introduces upper bands at various levels (-5, -10, -20, -25) to create zones for potential buy and sell signals. These bands are visually represented on the chart and can help traders gauge the strength of a trend.
**Alert Conditions:** The code includes several alert conditions that trigger notifications when specific events occur, such as %R crossing certain levels, candle color changes within predefined upper bands, and EMA crossovers.
**Background Highlighting:** The upper bands and the zero line are visually highlighted with different colors, making it easier for traders to identify critical price levels.
This code is valuable for traders seeking a versatile technical strategy that combines multiple indicators to improve trading decisions. By incorporating the Williams %R, EMAs, candlestick analysis, and upper bands, it offers a holistic approach to technical analysis. Traders can customize the parameters to align with their trading preferences and risk tolerance. The use of alerts ensures that traders are promptly notified of potential trade setups, allowing for timely execution and risk management. Overall, this code serves as a valuable tool for traders looking to make more informed decisions in the dynamic world of financial markets.
Bollinger Band Percentile SuiteThe Bollinger Band Percentile Suite (𝐵𝐵𝒫𝒸𝓉 𝒮𝓊𝒾𝓉𝑒) is a comprehensive and customizable toolkit built upon the foundation of the %B indicator. The methodology behind this toolkit remains consistent with the original %B indicator, while introducing a host of powerful features to enhance its functionality and adaptability.
Key Features and Customization:
The 𝐵𝐵𝒫𝒸𝓉 offers a wide array of customizable options to suit your trading preferences and strategies. It includes a variety of 14 moving average types that can be chosen as the basis for the Bollinger Band calculation. Additionally, traders have the flexibility to set their upper and lower boundaries for mean reversion detection, allowing for analysis tailored to the user's preference.
Deviation Calculation:
The toolkit provides an option to choose between standard and weighted deviation calculation methods. This added customization ensures that the indicator's behavior aligns with your unique trading style and preferences.
Signals and Reversals:
The 𝐵𝐵𝒫𝒸𝓉 excels in identifying potential overbought and oversold market conditions. It highlights these levels on the chart and marks potential reversal signals with small circles positioned either at the top or bottom of the indicator pane, providing traders with actionable insights.
Trend and Color Coding:
Incorporating a color-coded approach, the BBpct Suite enhances your understanding of market dynamics. It offers bar coloring options based on trend, allowing traders to identify bullish or bearish market conditions as the percentile goes above or below the midline.
Extremities and Reversions:
Recognizing extreme market conditions is crucial for traders. The 𝐵𝐵𝒫𝒸𝓉 includes color-coded indicators for extremities, indicating when the percentile ventures above or below the predefined thresholds. Moreover, it promptly identifies reversions by marking the moment the percentile crosses under the upper threshold (overbought) or over the lower threshold (oversold).
The Bollinger Band Percentile Suite equips traders with a versatile toolkit to gain valuable insights into market overbought and oversold conditions, and potential reversal signals. Its extensive customization options and array of features empower traders to make well-informed decisions based on their unique trading strategies and risk tolerance.
Please note that while the BBpct Suite provides robust analysis, it is advisable to combine its insights with other technical indicators and tools for a comprehensive trading approach.
Example Chart:
Relative Strength Volume ComparisonThe Relative Strength Volume Comparison is a powerful tool that can help traders identify the current trend based on volume pressure and potential reversals.
This oscillator is made of two lines and the overbought and oversold levels. Each of these two lines is a relative-strength formula that contains both the famous RSI and CCI formulas, smoothed by a Hull moving average.
The two lines are different for input. The colored line is based just on price and changes color based on the relation with the other line. The second line uses as input an average of three different popular volume indicators: The OBV, the Accumulation/Distribution, and the PVT.
Thanks to this tool, which uses 6 different formulas combined, traders can:
- Identify the current trend direction, based on the color of the area fill and the first colored line
- Identify potential reversal areas thanks to the overbought and oversold levels, customizable in the input section alongside the length and smoothing parameters.
Extreme Entry with Mean Reversion and Trend FilterThis non-repainting indicator is an improved version of my previous work, a more versatile tool designed to provide traders with dynamic and adaptive entry signals while incorporating a mean reversion and trend filtering mechanism. By combining RSI overbought/oversold, regular divergence and confirmatory momentum oscillator such as CCI or MOM, this indicator generates more precise and timely signals for entering trades.
The indicator offers a comprehensive set of entry conditions for both Buy and Sell entries:
• For Buy entries, it checks for oversold conditions based on RSI levels, and detects bullish divergence patterns while oversold and it identifies upward crossovers in the selected entry signal source (CCI or Momentum).
• Similarly, for Sell entries, it identifies downward crossovers of the CCI or Mom, after the recent overbought conditions, and bearish divergence patterns inside the overbought RSI.
To refine the entry signals even further, the indicator utilizes a mean reversion filter. Traders can choose to display signals that occur inside or outside the upper and lower mean reversion bands:
• Range Entries are indicating potential buying opportunities near the lower band and selling opportunities near the upper band. This is based on the concept of mean reversion, which suggests that prices tend to return to the average when they reach the upper or lower bands. By focusing on these signals, traders can take advantage of price movements that have a higher probability of reversing towards the mean.
• Extreme Entries, on the other hand, represent signals that occur outside of the bands, signaling potential pullbacks during strong trends. By entering positions only at extreme highs or lows, traders can avoid getting caught in the middle of the trend. This approach helps traders capitalize more favorable trading opportunities which have a high reward-risk ratio.
Trend Filter acts as a directional bias for the entry signals. When enabled, long and short entry conditions are filtered based on the relationship between the closing price and the EMA.
Traders have the flexibility to customize, tweak the indicator filter and values in the settings according to their preferences strategies and traded assets, tailoring the signals to their specific needs. The script sets alert conditions to trigger alerts for buy, sell, or both entry signals. This indicator can be used in conjunction with price action or other technical analysis tools for confirmation and better trading decisions.
I created this indicator for my own use, and I share this for informational purposes only. It does not constitute financial advice so use at your own risk and consider your financial situation before making any trading decisions. The indicator's accuracy is not guaranteed, and past performance is not indicative of future results.
I appreciate your feedback on this indicator. As I am new to script development, I am open to comments and suggestions to improve it. If you encounter any issues while using this indicator, please let me know in the comments section. If you find it helpful, I kindly ask for your support in boosting it. Thank you for your cooperation.
Edri Extreme Points Buy & SellEDRI EXTREME POINTS BUY & SELL INDICATOR
This Buy and Sell (non-repainting) indicator uses signals based on the combined CCI/Momentum and RSI indicators and optional regular divergence.
The idea of the indicator is to look for a potential reversal after the price reached extreme points (overbought or oversold) and signals an entry when the price shows signs of momentum for reversal.
Optionally, it considers finding a divergence while RSI is at the extreme levels to improve the predictability of a possible reversal.
Additionally, the indicator includes a simple Mean Reversion visual on the chart to assist users in identifying extreme price levels and potential reversal opportunities. It features upper and lower bands that can be optionally plotted, showing calculated values where price bounces at those extreme levels.
The purpose of these bands is to help traders avoid getting trapped in the middle of a trend and to guide them to buy low and sell high. (It's important to note that this is purely a visual aid and does not impact the generation of trade signals.)
By utilizing the Mean Reversion bands alongside the entry conditions, traders can gain insights into potential price reversals and make more informed decisions about when to enter or exit trades.
Buy and Sell Entry conditions:
• The indicator looks at the CCI/Momentum indicator to turn positive (if buy) or negative (if sell) after the RSI was overbought or oversold in the recent past.
• It also checks if there is a 3-period regular bullish divergence in the RSI (if buy), or regular bearish divergence (if sell) and consider these in the entry condition.
• If these conditions are met, this indicator suggests that it may be a good time to enter a trade.
In summary this is how this indicator works:
• The indicator takes input settings such as the choice between using CCI or Momentum as the entry signal source, length parameters for CCI/Momentum, RSI levels for overbought and oversold conditions, RSI length, and options to plot mean reversion bands on the chart.
• It calculates the CCI and Momentum and RSI values based on user-defined length..
• It checks for regular bullish and bearish divergences (3 periods) in the RSI if the option is enabled.
• The script plots shapes on the chart to indicate the buy and sell signals based on the entry conditions.
• If the mean reversion bands option is enabled, it calculates the mean reversion, standard deviation, upper band, and lower band values.
• It also plots the upper band, mean reversion line, and lower band on the chart if the mean reversion bands option is enabled.
• This indicator includes alert conditions to generate alerts for the buy and sell signals.
• On top of that, users can opt to use only one alert for both buy and sell signals. (This can save Trading view subscribers with limited alerts.)
Important! Please do not consider everything you read here as financial advice. Additionally, do not rely solely on indicators for making your trading decisions. It is important to note that no indicator or strategy is perfect. Therefore, it is always recommended to backtest everything and practice proper risk management.
I appreciate your feedback on this indicator. As I am new to script development, I am open to comments and suggestions to improve it. If you encounter any issues while using this indicator, please let me know in the comments section. If you find it helpful, I kindly ask for your support in boosting it. Thank you for your cooperation.
Rough AverageThe Rough Average indicator is a unique technical tool that calculates a modified average to provide insights into market conditions. It incorporates a combination of mathematical operations and existing indicators to offer traders a different perspective on price movements.
The Rough Average indicator aims to capture market dynamics through a specific calculation method. It utilizes two main components: a check for the approximate scale of the price and a profile calculation based on the Relative Strength Index (RSI) of the closing price.
Methodology:
Approximate Scale: The indicator determines the approximate scale of the price by analyzing the magnitude of the closing price. This step involves a mathematical process that identifies the power of 10 that best represents the scale. This function reduces overall lag and gives a better smoothing to the output of the calculation
Profile Calculation: The indicator calculates a profile value by summing the absolute values of the RSI of the closing price over a specified period. The RSI provides insights into the strength or weakness of price movements. The profile calculation considers a range of prices based on the determined scale.
Indicator Calculation:
The Rough Average is derived by applying the Exponential Moving Average (EMA) to the calculated profile. The EMA is a smoothing technique that emphasizes recent price data. The resulting value represents the modified average of the indicator.
Utility:
The Rough Average indicator offers traders an alternative perspective on market conditions. By utilizing a modified average calculation, it can reveal potential trends, reversals, or periods of market strength or weakness. Traders can use the Rough Average to complement their analysis and identify possible trading opportunities.
It is important to note that the effectiveness of the Rough Average indicator may vary depending on the specific market and trading strategy. It is recommended to combine its analysis with other technical indicators and conduct thorough testing before making trading decisions.
Key Features:
Customizable OB\OS Levels
Bar coloring methods: Trend, Reversions, Extremities
Example Charts:
MACD Normalized [ChartPrime]Overview of MACD Normalized Indicator
The MACD Normalized indicator, serves as an asset for traders seeking to harness the power of the moving average convergence divergence (MACD) combined with the advantages of the stochastic oscillator. This novel indicator introduces a normalized MACD, offering a potentially enhanced flexibility and adaptability to numerous market conditions and trading techniques.
This indicator stands out by normalizing the MACD to its average high and average low, also factoring in the deviation of the high-low position from the mean. This approach incorporates the high and low in the calculations, providing the benefits of stochastic without its common drawbacks, such as clipping problems. As a result, the indicator becomes exceptionally versatile and suitable for various trading strategies, including both faster and slower settings.
The MACD Normalized Indicator boasts a variety of options and settings. The features include:
Enable Ribbon: Toggle the display of the ribbon accompanying the MACD Normalized, as desired.
Fast Length: Determine the movement speed of the fast line to receive advance notice of potential market opportunities.
Slow Length: Control the movement pace of the slow line for smoother signals and a comprehensive outlook on market trends.
Average Length: Specify the length used to calculate the high and low averages, providing greater control over the indicator's granularity.
Upper Deviation: Establish the extent to which the high and low values deviate from the mean, ensuring adaptability to diverse market situations.
Inner Band (Middle Deviation): Adjust the balance between the high and low deviations to create an inner band signal, giving traders a secondary level of market analysis and decision-making support.
Enable Candle Color: Enable the coloring of candles based on the MACD Normalized value for effortless visualization of trading potential.
Use Cases for the MACD Normalized Indicator
In addition to analyzing market trends and identifying potential trading opportunities, ChartPrime's MACD Normalized Indicator offers a range of applications for traders. These use cases encompass distinct trading scenarios and strategies:
Overbought and Oversold Regions
One of the key applications of the MACD Normalized Indicator is identifying overbought and oversold regions. Overbought refers to a situation where an asset's price has risen significantly and is expected to face a downturn, while oversold indicates a price drop that may subsequently lead to a reversal.
By adjusting the indicator's parameters, such as the upper and inner deviation levels, traders can set precise boundaries to determine overbought and oversold areas. When the MACD moves into the upper region, it may signal that the asset is overbought and due for a price correction. Conversely, if the MACD enters the lower region, it possibly indicates an oversold condition with the potential for a price rebound.
Signal Line Crossovers
The MACD Normalized Indicator displays two lines: the fast line and the slow line (inner band). A common trading strategy involves observing the intersection of these two lines, known as a crossover. When the fast line crosses above the slow line, it may signify a bullish trend or a potential buying opportunity. Conversely, a crossover with the fast line moving below the slow line typically indicates a bearish trend or a selling opportunity.
Divergence and Convergence
Divergence occurs when the price movement of an asset does not align with the corresponding MACD values. If the price establishes a new high while the MACD fails to do the same, a bearish divergence emerges, suggesting a potential downtrend. Similarly, a bullish divergence takes place when the price forms a new low but the MACD does not follow suit, hinting at an upcoming uptrend.
Convergence, on the other hand, is represented by the MACD lines moving closer together. This movement signifies a potential change in the trend, providing traders with a timely opportunity to enter or exit the market.
Simple Ultimate Oscillator█ OVERVIEW
This indicator as an educational and showcase the usage of user-defined types (UDT) or objects for Ultimate Oscillator.
█ CREDITS
TradingView
█ FEATURES
1. Color of plot is based on contrast color of chart background.
2. Plot fill of overbought and oversold.
3. Support Multi Timeframe.
Multi Bollinger Bands with Over ZoneThis indicator is called "Multi Bollinger Bands with Over Zone". The indicator uses linear regression to calculate the regression line and standard deviation to calculate the upper and lower deviation lines. It also plots filled areas between the deviation lines to highlight overbought and oversold zones.
The indicator has several customizable inputs, including the length of the regression period, depth, and deviations used to calculate the deviation lines.
The regression line is plotted in green color with circle markers. The upper and lower deviation lines are plotted in blue and red colors, respectively. The area between the deviation lines is filled with light blue color for the overbought zone and light pink color for the oversold zone.
This indicator helps traders in identifying trends and potential price reversals. When the price is above the upper deviation line, it indicates a potential overbought zone, while when the price is below the lower deviation line, it indicates a potential oversold zone.
Please note that this indicator is only a tool for analysis and does not provide direct trading signals. It is important to combine this indicator with additional analysis and appropriate trading strategies.
Risk-Adjusted Return OscillatorThe Risk-Adjusted Return Oscillator (RAR) is designed to aid traders in predicting future price action by analysing the risk-adjusted performance of an asset. This oscillator is displayed directly on the price chart, unlike other oscillators.
By considering the risk-return relationship, the indicator helps identify periods of overvaluation or undervaluation, allowing traders to anticipate potential price reversals or trend accelerations.
HOW TO USE
The Risk-Adjusted Return Oscillator analyses the risk-adjusted performance of an asset to detect price reversals and accelerations. Here's how to interpret its signals:
Ranging Market:
Overbought Signal: When the RAR curve reaches the overbought level (upper red line), it suggests a potential reversal signal. It indicates that the asset may be overvalued, and a price correction or trend reversal could occur.
Oversold Signal: When the RAR curve reaches the oversold level (lower red line), it indicates a potential reversal signal. It suggests that the asset may be undervalued, and a price correction or trend reversal could take place.
Trending Market:
Overbought Signal: In a trending market, an overbought signal (RAR curve reaching upper red line) suggests trend acceleration. It indicates that the existing trend is gaining strength, and buying pressure is increasing.
Oversold Signal: In a trending market, an oversold signal (RAR curve reaching lower red line) also signifies trend acceleration. It suggests that the prevailing trend is intensifying, and selling pressure is increasing.
Thus, it's important to consider the market context when interpreting overbought and oversold signals. In ranging markets, these signals act as potential reversal points. However, in trending markets, they indicate trend acceleration, reinforcing the current price direction.
SETTINGS
Period Length: Adjust the number of bars used to calculate returns and standard deviation.
Smoothing: Define the smoothing period for the RAR curve.
Show Overbought/Oversold Signals: Choose whether to display triangular shapes for overbought and oversold conditions.
