Simple script based on moving average, RSI and ADX indicator
--- ENGLISH --- A Useful Tool For Any Trader: This is just an EMA but with a catch: it will color the EMA line base on wether it's increasing or declining therefore making it easy to see when we are on a downtrend or an uptrend. In a downtrend the line will turn red and in an uptrend, it will turn white. Both the color and the EMA length can be customized as...
Library "lib_profile" a library with functions to calculate a volume profile for either a set of candles within the current chart, or a single candle from its lower timeframe security data. All you need is to feed the method delete(this) deletes this bucket's plot from the chart Namespace types: Bucket Parameters: this (Bucket) method...
As soon as you call this indicator, it asks you to define the range. Select the bottom and the top of the range. Next, set your alarm. There are 3 alarm options: 1: Bottom of the range breakout 2: Top of the range breakout 3: Bottom or top of the range breakout As soon as you close a candle outside the selected range, only then will the alarm be triggered.
Key Components : 📍 Natural Logarithm Function : The script starts by employing a custom Taylor Series approximation for natural logarithms. This function serves to calculate entropy with higher accuracy than conventional methods, laying the foundation for further calculations. 📍 Entropy Calculation : The core of this indicator is its entropy function. It employs...
This indicator is designed to visually represent different trading sessions on a price chart, highlighting candlestick colors to distinguish between bullish (upward movement) and bearish (downward movement) trends during various market sessions. Here's an overview of how the indicator works: 1. Session Definition: The indicator defines four distinct trading...
Fibonacci Trading This simple script draw Fibonacci Retracement to define pullback level and draw Fibonacci Extension to define target level of a upward wave or doward wave 1. Upward wave 1.1 Fibonacci Retracement + Fibonacci Retracement measuare from support to nearest resistance on the right. + Retracement Level 0 named as "Breake Even" + Retracement Level 100...
Hey there! Let's get into the details about dynamic rate indicators, how they work, their importance, usage, and benefits in trading. Dynamic rate indicators are essential in trading as they help traders assess the volatility and risk level of the market, so they can make the right trading strategies and risk management measures. When it comes to the importance...
TL;DR - TradingView's Rolling VWAP as centered oscillator I really like TradingView's rolling VWAP (Rolling Volume-Weighted Average Price - RVWAP) indicator. But I also like clean charts that's why I'm mainly using indicators which are not displayed on the chart. Instead of simply moving the RVWAP to another pane I turned it into a centered oscillator. This...
This is a CPR which indicates pivot points based on monthly price action. The Orange line acts as a resistance area, blue lines act as pivot point/CPR and green one is support. One can study retrospective chart to analyse how market has respected these Support and Resistance levels. A guide on how to trade using this indicator? 1. If you see the resistance is...
The Psychological Support/Resistance indicator aims to provide the user with hypothetical support and resistance zones that are likely to provoke a strong reaction in price, either in both directions, providing good bouncing zones or significant movements once those levels are breached. 🔶 CALCULATION The script takes into consideration the total number of...
This indicator plots VWAPs anchored to each day of the week. VWAPs are considered "fair price" for both sellers and buyers and it's often times where the liquidity is found. From my trading I noticed how often times price likes to come back to the daily VWAP from the previous week, especially at the beginning and end of each week. For example, if we enter a long...
This indicator plots the opening range for each of the market sessions. Users can chose the length of the opening range, as well as change the time for each of the sessions. This script is based on opening range breakout strategies, which entail taking a long/short depending on which way the price breaks out. To trade it, we wait for the session opening range to...
A regular trading day on the New York Stock Exchange (NYSE) consists of two main sessions: the Opening Auction and the Closing Auction, separated by a continuous trading session. Here's a breakdown of the trading day: 1. **Pre-Opening Session**: This session starts at 4:00 AM Eastern Time (ET) and lasts until 9:30 AM ET. During this time, there is limited trading...
Library "two_ma_logic" The core logic for the two moving average strategy that is used as an example for the internal logic of the "Template Trailing Strategy" and the "Two MA Signal Indicator" ma(source, maType, length) ma - Calculate the moving average of the given source for the given length and type of the average Parameters: source (float) : -...
Library "tts_convention" This library can convert the start, end, cancel start, cancel end deal conditions that are used in the "Template Trailing Strategy" script into a signal value and vice versa. The "two channels mod div" convention is unsed internaly and the signal value can be composed/decomposed into two channels that contain the afforementioned...
The "Percentile Based Trend Strength" (PBTS) calculates trend strength based on percentile values of high and low prices for various length periods and then identifies the current trend as either Bullish, Bearish, or N/A (No Trend). Here's a step-by-step explanation of the code: Percentile Calculations: For each specified length period (13, 21, 34, 55, 89, and...
This script can be useful in case of analyzing the impact of US presidential election on the past market. It has separated settings for showing Inauguration and Election labels.