Price Cross Time Custom Range Interactive█ OVERVIEW
This indicator was a time-based indicator and intended as educational purpose only based on pine script v5 functions for ta.cross() , ta.crossover() and ta.crossunder() .
I realised that there is some overlap price with the cross functions, hence I integrate them into Custom Range Interactive with value variance and overlap displayed into table.
This was my submission for Pinefest #1 , I decided to share this as public, I may accidentally delete this as long as i keep as private.
█ INSPIRATION
Inspired by design, code and usage of CAGR. Basic usage of custom range / interactive, pretty much explained here . Credits to TradingView.
█ FEATURES
1. Custom Range Interactive
2. Label can be resize and change color.
3. Label show tooltip for price and time.
4. Label can be offset to improve readability.
5. Table can show price variance when any cross is true.
6. Table can show overlap if found crosss is overlap either with crossover and crossunder.
7. Table text color automatically change based on chart background (light / dark mode).
8. Source 2 is drawn as straight line, while Source 1 will draw as label either above line for crossover, below line for crossunder and marked 'X' if crossing with Source 2's line.
9. Cross 'X' label can be offset to improve readability.
10. Both Source 1 and Source 2 can select Open, Close, High and Low, which can be displayed into table.
█ LIMITATIONS
1. Table is limited to intraday timeframe only as time format is not accurate for daily timeframe and above. Example daily timeframe will give result less 1 day from actual date.
2. I did not include other sources such external source or any built in sources such as hl2, hlc3, ohlc4 and hlcc4.
█ CODE EXPLAINATION
I pretty much create custom function with method which returns tuple value.
method crossVariant(float price = na, chart.point ref = na) =>
cross = ta.cross( price, ref.price)
over = ta.crossover( price, ref.price)
under = ta.crossunder(price, ref.price)
Unfortunately, I unable make the labels into array which i plan to return string value by getting the text value from array label, hence i use label.all and add incremental int value as reference.
series label labelCross = na, labelCross.delete()
var int num = 0
if over
num += 1
labelCross := label.new()
if under
num += 1
labelCross := label.new()
if cross
num += 1
labelCross := label.new()
I realised cross value can be overlap with crossover and crossunder, hence I add bool to enable force overlap and add additional bools.
series label labelCross = na, labelCross.delete()
var int num = 0
if forceOverlap
if over
num += 1
labelCross := label.new()
if under
num += 1
labelCross := label.new()
if cross
num += 1
labelCross := label.new()
else
if cross and over
num += 1
labelCross := label.new()
if cross and under
num += 1
labelCross := label.new()
if cross and not over and not under
num += 1
labelCross := label.new()
█ USAGE / EXAMPLES
Buscar en scripts para " TABLE "
dashboard MTF,EMA User Guide: Dashboard MTF EMA
Script Installation:
Copy the script code.
Go to the script window (Pine Editor) on TradingView.
Paste the code into the script window.
Save the script.
Adding the Script to the Chart:
Return to your chart on TradingView.
Look for the script in the list of available scripts.
Add the script to the chart.
Interpreting the Table:
On the right side of the chart, you will see a table labeled "EMA" with arrows.
The rows correspond to different timeframes: 5 minutes (5M), 15 minutes (15M), 1 hour (1H), 4 hours (4H), and 1 day (1D).
Understanding the Arrows:
Each row of the table has two columns: "EMA" and an arrow.
"EMA" indicates the trend of the Exponential Moving Average (EMA) for the specified period.
The arrow indicates the direction of the trend: ▲ for bullish, ▼ for bearish.
Table Colors:
The colors of the table reflect the current trend based on the comparison between fast and slow EMAs.
Blue (▲) indicates a bullish trend.
Red (▼) indicates a bearish trend.
Table Theme:
The table has a dark (Dark) or light (Light) theme according to your preference.
The background, frame, and colors are adjusted based on the selected theme.
Usage:
Use the table as a quick indicator of trends on different timeframes.
The arrows help you quickly identify trends without navigating between different time units.
Designed to simplify analysis and avoid cluttering the chart with multiple indicators.
Major and Minor Trend Indicator by Nikhil34a V 2.2Title: Major and Minor Trend Indicator by Nikhil34a V 2.2
Description:
The Major and Minor Trend Indicator v2.2 is a comprehensive technical analysis script designed for use with the TradingView platform. This powerful tool is developed in Pine Script version 5 and helps traders identify potential buying and selling opportunities in the stock market.
Features:
SMA Trend Analysis: The script calculates two Simple Moving Averages (SMAs) with user-defined lengths for major and minor trends. It displays these SMAs on the chart, allowing traders to visualize the prevailing trends easily.
Surge Detection: The indicator can detect buying and selling surges based on specific conditions, such as volume, RSI, MACD, and stochastic indicators. Both Buying and Selling surges are marked in black on the chart.
Option Buy Zone Detection: The script identifies the option buy zone based on SMA crossovers, RSI, and MACD values. The buy zone is categorized as "CE Zone" or "PE Zone" and displayed in the table along with the trigger time.
Two-Day High and Low Range: The script calculates the highest high and lowest low of the previous two trading days and plots them on the chart. The area between these points is shaded in semi-transparent green and red colors.
Crossover Analysis: The script analyzes moving average crossovers on multiple timeframes (2-minute, 3-minute, and 5-minute) and displays buy and sell signals accordingly.
Trend Identification: The script identifies the major and minor trends as either bullish or bearish, providing valuable insights into the overall market sentiment.
Usage:
Customize Major and Minor SMA Periods: Adjust the lengths of major and minor SMAs through input parameters to suit your trading preferences.
Enable/Disable Moving Averages: Choose which SMAs to display on the chart by toggling the "showXMA" input options.
Set Surge and Option Buy Zone Thresholds: Modify the surgeThreshold, volumeThreshold, RSIThreshold, and StochThreshold inputs to refine the surge and buy zone detection.
Analyze Crossover Signals: Monitor the crossover signals in the table, categorized by timeframes (2-minute, 3-minute, and 5-minute).
Explore Market Bias and Distance to 2-Day High/Low: The table provides information on market bias, current price movement relative to the previous two-day high and low, and the option buy zone status.
Additional Use Cases:
Surge Indicator:
The script includes a Surge Indicator that detects sudden buying or selling surges in the market. When a buying surge is identified, the "BSurge" label will appear below the corresponding candle with black text on a white background. Similarly, a selling surge will display the "SSurge" label in white text on a black background. These indicators help traders quickly spot strong buying or selling activities that may influence their trading decisions. These surges can be used to identify sudden premium dump zones.
Option Buy Zone:
The Option Buy Zone is an essential feature that identifies potential zones for buying call options (CE Zone) or put options (PE Zone) based on specific technical conditions. The indicator evaluates SMA crossovers, RSI, and MACD values to determine the current market sentiment. When the option buy zone is triggered, the script will display the respective zone ("CE Zone" or "PE Zone") in the table, highlighted with a white background. Additionally, the time when the buy zone was triggered will be shown under the "Option Buy Zone Trigger Time" column.
Price Movement Relative to 2-Day High/Low:
The script calculates the highest high and lowest low of the previous two trading days (high2DaysAgo and low2DaysAgo) and plots these points on the chart. The area between these two points is shaded in semi-transparent green and red colors. The green region indicates the price range between the highpricetoconsider (highest high of the previous two days) and the lower value between highPreviousDay and high2DaysAgo. Similarly, the red region represents the price range between the lowpricetoconsider (lowest low of the previous two days) and the higher value between lowPreviousDay and low2DaysAgo.
Entry Time and Current Zone:
The script identifies potential entry times for trades within the option buy zone. When a valid buy zone trigger occurs, the script calculates the entryTime by adding the durationInMinutes (user-defined) to the startTime. The entryTime will be displayed in the "Entry Time" column of the table. Depending on the comparison between optionbuyzonetriggertime and entryTime, the background color of the entry time will change. If optionbuyzonetriggertime is greater than entryTime, the background color will be yellow, indicating that a new trigger has occurred before the specified duration. Otherwise, the background color will be green, suggesting that the entry time is still within the defined duration.
Current Zone Indicator:
The script further categorizes the current zone as either "CE Zone" (call option zone) or "PE Zone" (put option zone). When the market is trending upwards and the minor SMA is above the major SMA, the currentZone will be set to "CE Zone." Conversely, when the market is trending downwards and the minor SMA is below the major SMA, the currentZone will be "PE Zone." This information is displayed in the "Current Zone" column of the table.
These additional use cases empower traders with valuable insights into market trends, buying and selling surges, option buy zones, and potential entry times. Traders can combine this information with their analysis and risk management strategies to make informed and confident trading decisions.
Note:
The script is optimized for identifying trends and potential trade opportunities. It is crucial to perform additional analysis and risk management before executing any trades based on the provided signals.
Happy Trading!
LYGLibraryLibrary "LYGLibrary"
A collection of custom tools & utility functions commonly used with my scripts
getDecimals()
Calculates how many decimals are on the quote price of the current market
Returns: The current decimal places on the market quote price
truncate(number, decimalPlaces)
Truncates (cuts) excess decimal places
Parameters:
number (float)
decimalPlaces (simple float)
Returns: The given number truncated to the given decimalPlaces
toWhole(number)
Converts pips into whole numbers
Parameters:
number (float)
Returns: The converted number
toPips(number)
Converts whole numbers back into pips
Parameters:
number (float)
Returns: The converted number
getPctChange(value1, value2, lookback)
Gets the percentage change between 2 float values over a given lookback period
Parameters:
value1 (float)
value2 (float)
lookback (int)
av_getPositionSize(balance, risk, stopPoints, conversionRate)
Calculates OANDA forex position size for AutoView based on the given parameters
Parameters:
balance (float)
risk (float)
stopPoints (float)
conversionRate (float)
Returns: The calculated position size (in units - only compatible with OANDA)
bullFib(priceLow, priceHigh, fibRatio)
Calculates a bullish fibonacci value
Parameters:
priceLow (float) : The lowest price point
priceHigh (float) : The highest price point
fibRatio (float) : The fibonacci % ratio to calculate
Returns: The fibonacci value of the given ratio between the two price points
bearFib(priceLow, priceHigh, fibRatio)
Calculates a bearish fibonacci value
Parameters:
priceLow (float) : The lowest price point
priceHigh (float) : The highest price point
fibRatio (float) : The fibonacci % ratio to calculate
Returns: The fibonacci value of the given ratio between the two price points
getMA(length, maType)
Gets a Moving Average based on type (MUST BE CALLED ON EVERY CALCULATION)
Parameters:
length (simple int)
maType (string)
Returns: A moving average with the given parameters
getEAP(atr)
Performs EAP stop loss size calculation (eg. ATR >= 20.0 and ATR < 30, returns 20)
Parameters:
atr (float)
Returns: The EAP SL converted ATR size
getEAP2(atr)
Performs secondary EAP stop loss size calculation (eg. ATR < 40, add 5 pips, ATR between 40-50, add 10 pips etc)
Parameters:
atr (float)
Returns: The EAP SL converted ATR size
barsAboveMA(lookback, ma)
Counts how many candles are above the MA
Parameters:
lookback (int)
ma (float)
Returns: The bar count of how many recent bars are above the MA
barsBelowMA(lookback, ma)
Counts how many candles are below the MA
Parameters:
lookback (int)
ma (float)
Returns: The bar count of how many recent bars are below the EMA
barsCrossedMA(lookback, ma)
Counts how many times the EMA was crossed recently
Parameters:
lookback (int)
ma (float)
Returns: The bar count of how many times price recently crossed the EMA
getPullbackBarCount(lookback, direction)
Counts how many green & red bars have printed recently (ie. pullback count)
Parameters:
lookback (int)
direction (int)
Returns: The bar count of how many candles have retraced over the given lookback & direction
getBodySize()
Gets the current candle's body size (in POINTS, divide by 10 to get pips)
Returns: The current candle's body size in POINTS
getTopWickSize()
Gets the current candle's top wick size (in POINTS, divide by 10 to get pips)
Returns: The current candle's top wick size in POINTS
getBottomWickSize()
Gets the current candle's bottom wick size (in POINTS, divide by 10 to get pips)
Returns: The current candle's bottom wick size in POINTS
getBodyPercent()
Gets the current candle's body size as a percentage of its entire size including its wicks
Returns: The current candle's body size percentage
isHammer(fib, colorMatch)
Checks if the current bar is a hammer candle based on the given parameters
Parameters:
fib (float)
colorMatch (bool)
Returns: A boolean - true if the current bar matches the requirements of a hammer candle
isStar(fib, colorMatch)
Checks if the current bar is a shooting star candle based on the given parameters
Parameters:
fib (float)
colorMatch (bool)
Returns: A boolean - true if the current bar matches the requirements of a shooting star candle
isDoji(wickSize, bodySize)
Checks if the current bar is a doji candle based on the given parameters
Parameters:
wickSize (float)
bodySize (float)
Returns: A boolean - true if the current bar matches the requirements of a doji candle
isBullishEC(allowance, rejectionWickSize, engulfWick)
Checks if the current bar is a bullish engulfing candle
Parameters:
allowance (float)
rejectionWickSize (float)
engulfWick (bool)
Returns: A boolean - true if the current bar matches the requirements of a bullish engulfing candle
isBearishEC(allowance, rejectionWickSize, engulfWick)
Checks if the current bar is a bearish engulfing candle
Parameters:
allowance (float)
rejectionWickSize (float)
engulfWick (bool)
Returns: A boolean - true if the current bar matches the requirements of a bearish engulfing candle
isInsideBar()
Detects inside bars
Returns: Returns true if the current bar is an inside bar
isOutsideBar()
Detects outside bars
Returns: Returns true if the current bar is an outside bar
barInSession(sess, useFilter)
Determines if the current price bar falls inside the specified session
Parameters:
sess (simple string)
useFilter (bool)
Returns: A boolean - true if the current bar falls within the given time session
barOutSession(sess, useFilter)
Determines if the current price bar falls outside the specified session
Parameters:
sess (simple string)
useFilter (bool)
Returns: A boolean - true if the current bar falls outside the given time session
dateFilter(startTime, endTime)
Determines if this bar's time falls within date filter range
Parameters:
startTime (int)
endTime (int)
Returns: A boolean - true if the current bar falls within the given dates
dayFilter(monday, tuesday, wednesday, thursday, friday, saturday, sunday)
Checks if the current bar's day is in the list of given days to analyze
Parameters:
monday (bool)
tuesday (bool)
wednesday (bool)
thursday (bool)
friday (bool)
saturday (bool)
sunday (bool)
Returns: A boolean - true if the current bar's day is one of the given days
atrFilter(atrValue, maxSize)
Parameters:
atrValue (float)
maxSize (float)
fillCell(tableID, column, row, title, value, bgcolor, txtcolor)
This updates the given table's cell with the given values
Parameters:
tableID (table)
column (int)
row (int)
title (string)
value (string)
bgcolor (color)
txtcolor (color)
Returns: A boolean - true if the current bar falls within the given dates
Goertzel Browser [Loxx]As the financial markets become increasingly complex and data-driven, traders and analysts must leverage powerful tools to gain insights and make informed decisions. One such tool is the Goertzel Browser indicator, a sophisticated technical analysis indicator that helps identify cyclical patterns in financial data. This powerful tool is capable of detecting cyclical patterns in financial data, helping traders to make better predictions and optimize their trading strategies. With its unique combination of mathematical algorithms and advanced charting capabilities, this indicator has the potential to revolutionize the way we approach financial modeling and trading.
█ Brief Overview of the Goertzel Browser
The Goertzel Browser is a sophisticated technical analysis tool that utilizes the Goertzel algorithm to analyze and visualize cyclical components within a financial time series. By identifying these cycles and their characteristics, the indicator aims to provide valuable insights into the market's underlying price movements, which could potentially be used for making informed trading decisions.
The primary purpose of this indicator is to:
1. Detect and analyze the dominant cycles present in the price data.
2. Reconstruct and visualize the composite wave based on the detected cycles.
3. Project the composite wave into the future, providing a potential roadmap for upcoming price movements.
To achieve this, the indicator performs several tasks:
1. Detrending the price data: The indicator preprocesses the price data using various detrending techniques, such as Hodrick-Prescott filters, zero-lag moving averages, and linear regression, to remove the underlying trend and focus on the cyclical components.
2. Applying the Goertzel algorithm: The indicator applies the Goertzel algorithm to the detrended price data, identifying the dominant cycles and their characteristics, such as amplitude, phase, and cycle strength.
3. Constructing the composite wave: The indicator reconstructs the composite wave by combining the detected cycles, either by using a user-defined list of cycles or by selecting the top N cycles based on their amplitude or cycle strength.
4. Visualizing the composite wave: The indicator plots the composite wave, using solid lines for the past and dotted lines for the future projections. The color of the lines indicates whether the wave is increasing or decreasing.
5. Displaying cycle information: The indicator provides a table that displays detailed information about the detected cycles, including their rank, period, Bartel's test results, amplitude, and phase.
This indicator is a powerful tool that employs the Goertzel algorithm to analyze and visualize the cyclical components within a financial time series. By providing insights into the underlying price movements and their potential future trajectory, the indicator aims to assist traders in making more informed decisions.
█ What is the Goertzel Algorithm?
The Goertzel algorithm, named after Gerald Goertzel, is a digital signal processing technique that is used to efficiently compute individual terms of the Discrete Fourier Transform (DFT). It was first introduced in 1958, and since then, it has found various applications in the fields of engineering, mathematics, and physics.
The Goertzel algorithm is primarily used to detect specific frequency components within a digital signal, making it particularly useful in applications where only a few frequency components are of interest. The algorithm is computationally efficient, as it requires fewer calculations than the Fast Fourier Transform (FFT) when detecting a small number of frequency components. This efficiency makes the Goertzel algorithm a popular choice in applications such as:
1. Telecommunications: The Goertzel algorithm is used for decoding Dual-Tone Multi-Frequency (DTMF) signals, which are the tones generated when pressing buttons on a telephone keypad. By identifying specific frequency components, the algorithm can accurately determine which button has been pressed.
2. Audio processing: The algorithm can be used to detect specific pitches or harmonics in an audio signal, making it useful in applications like pitch detection and tuning musical instruments.
3. Vibration analysis: In the field of mechanical engineering, the Goertzel algorithm can be applied to analyze vibrations in rotating machinery, helping to identify faulty components or signs of wear.
4. Power system analysis: The algorithm can be used to measure harmonic content in power systems, allowing engineers to assess power quality and detect potential issues.
The Goertzel algorithm is used in these applications because it offers several advantages over other methods, such as the FFT:
1. Computational efficiency: The Goertzel algorithm requires fewer calculations when detecting a small number of frequency components, making it more computationally efficient than the FFT in these cases.
2. Real-time analysis: The algorithm can be implemented in a streaming fashion, allowing for real-time analysis of signals, which is crucial in applications like telecommunications and audio processing.
3. Memory efficiency: The Goertzel algorithm requires less memory than the FFT, as it only computes the frequency components of interest.
4. Precision: The algorithm is less susceptible to numerical errors compared to the FFT, ensuring more accurate results in applications where precision is essential.
The Goertzel algorithm is an efficient digital signal processing technique that is primarily used to detect specific frequency components within a signal. Its computational efficiency, real-time capabilities, and precision make it an attractive choice for various applications, including telecommunications, audio processing, vibration analysis, and power system analysis. The algorithm has been widely adopted since its introduction in 1958 and continues to be an essential tool in the fields of engineering, mathematics, and physics.
█ Goertzel Algorithm in Quantitative Finance: In-Depth Analysis and Applications
The Goertzel algorithm, initially designed for signal processing in telecommunications, has gained significant traction in the financial industry due to its efficient frequency detection capabilities. In quantitative finance, the Goertzel algorithm has been utilized for uncovering hidden market cycles, developing data-driven trading strategies, and optimizing risk management. This section delves deeper into the applications of the Goertzel algorithm in finance, particularly within the context of quantitative trading and analysis.
Unveiling Hidden Market Cycles:
Market cycles are prevalent in financial markets and arise from various factors, such as economic conditions, investor psychology, and market participant behavior. The Goertzel algorithm's ability to detect and isolate specific frequencies in price data helps trader analysts identify hidden market cycles that may otherwise go unnoticed. By examining the amplitude, phase, and periodicity of each cycle, traders can better understand the underlying market structure and dynamics, enabling them to develop more informed and effective trading strategies.
Developing Quantitative Trading Strategies:
The Goertzel algorithm's versatility allows traders to incorporate its insights into a wide range of trading strategies. By identifying the dominant market cycles in a financial instrument's price data, traders can create data-driven strategies that capitalize on the cyclical nature of markets.
For instance, a trader may develop a mean-reversion strategy that takes advantage of the identified cycles. By establishing positions when the price deviates from the predicted cycle, the trader can profit from the subsequent reversion to the cycle's mean. Similarly, a momentum-based strategy could be designed to exploit the persistence of a dominant cycle by entering positions that align with the cycle's direction.
Enhancing Risk Management:
The Goertzel algorithm plays a vital role in risk management for quantitative strategies. By analyzing the cyclical components of a financial instrument's price data, traders can gain insights into the potential risks associated with their trading strategies.
By monitoring the amplitude and phase of dominant cycles, a trader can detect changes in market dynamics that may pose risks to their positions. For example, a sudden increase in amplitude may indicate heightened volatility, prompting the trader to adjust position sizing or employ hedging techniques to protect their portfolio. Additionally, changes in phase alignment could signal a potential shift in market sentiment, necessitating adjustments to the trading strategy.
Expanding Quantitative Toolkits:
Traders can augment the Goertzel algorithm's insights by combining it with other quantitative techniques, creating a more comprehensive and sophisticated analysis framework. For example, machine learning algorithms, such as neural networks or support vector machines, could be trained on features extracted from the Goertzel algorithm to predict future price movements more accurately.
Furthermore, the Goertzel algorithm can be integrated with other technical analysis tools, such as moving averages or oscillators, to enhance their effectiveness. By applying these tools to the identified cycles, traders can generate more robust and reliable trading signals.
The Goertzel algorithm offers invaluable benefits to quantitative finance practitioners by uncovering hidden market cycles, aiding in the development of data-driven trading strategies, and improving risk management. By leveraging the insights provided by the Goertzel algorithm and integrating it with other quantitative techniques, traders can gain a deeper understanding of market dynamics and devise more effective trading strategies.
█ Indicator Inputs
src: This is the source data for the analysis, typically the closing price of the financial instrument.
detrendornot: This input determines the method used for detrending the source data. Detrending is the process of removing the underlying trend from the data to focus on the cyclical components.
The available options are:
hpsmthdt: Detrend using Hodrick-Prescott filter centered moving average.
zlagsmthdt: Detrend using zero-lag moving average centered moving average.
logZlagRegression: Detrend using logarithmic zero-lag linear regression.
hpsmth: Detrend using Hodrick-Prescott filter.
zlagsmth: Detrend using zero-lag moving average.
DT_HPper1 and DT_HPper2: These inputs define the period range for the Hodrick-Prescott filter centered moving average when detrendornot is set to hpsmthdt.
DT_ZLper1 and DT_ZLper2: These inputs define the period range for the zero-lag moving average centered moving average when detrendornot is set to zlagsmthdt.
DT_RegZLsmoothPer: This input defines the period for the zero-lag moving average used in logarithmic zero-lag linear regression when detrendornot is set to logZlagRegression.
HPsmoothPer: This input defines the period for the Hodrick-Prescott filter when detrendornot is set to hpsmth.
ZLMAsmoothPer: This input defines the period for the zero-lag moving average when detrendornot is set to zlagsmth.
MaxPer: This input sets the maximum period for the Goertzel algorithm to search for cycles.
squaredAmp: This boolean input determines whether the amplitude should be squared in the Goertzel algorithm.
useAddition: This boolean input determines whether the Goertzel algorithm should use addition for combining the cycles.
useCosine: This boolean input determines whether the Goertzel algorithm should use cosine waves instead of sine waves.
UseCycleStrength: This boolean input determines whether the Goertzel algorithm should compute the cycle strength, which is a normalized measure of the cycle's amplitude.
WindowSizePast and WindowSizeFuture: These inputs define the window size for past and future projections of the composite wave.
FilterBartels: This boolean input determines whether Bartel's test should be applied to filter out non-significant cycles.
BartNoCycles: This input sets the number of cycles to be used in Bartel's test.
BartSmoothPer: This input sets the period for the moving average used in Bartel's test.
BartSigLimit: This input sets the significance limit for Bartel's test, below which cycles are considered insignificant.
SortBartels: This boolean input determines whether the cycles should be sorted by their Bartel's test results.
UseCycleList: This boolean input determines whether a user-defined list of cycles should be used for constructing the composite wave. If set to false, the top N cycles will be used.
Cycle1, Cycle2, Cycle3, Cycle4, and Cycle5: These inputs define the user-defined list of cycles when 'UseCycleList' is set to true. If using a user-defined list, each of these inputs represents the period of a specific cycle to include in the composite wave.
StartAtCycle: This input determines the starting index for selecting the top N cycles when UseCycleList is set to false. This allows you to skip a certain number of cycles from the top before selecting the desired number of cycles.
UseTopCycles: This input sets the number of top cycles to use for constructing the composite wave when UseCycleList is set to false. The cycles are ranked based on their amplitudes or cycle strengths, depending on the UseCycleStrength input.
SubtractNoise: This boolean input determines whether to subtract the noise (remaining cycles) from the composite wave. If set to true, the composite wave will only include the top N cycles specified by UseTopCycles.
█ Exploring Auxiliary Functions
The following functions demonstrate advanced techniques for analyzing financial markets, including zero-lag moving averages, Bartels probability, detrending, and Hodrick-Prescott filtering. This section examines each function in detail, explaining their purpose, methodology, and applications in finance. We will examine how each function contributes to the overall performance and effectiveness of the indicator and how they work together to create a powerful analytical tool.
Zero-Lag Moving Average:
The zero-lag moving average function is designed to minimize the lag typically associated with moving averages. This is achieved through a two-step weighted linear regression process that emphasizes more recent data points. The function calculates a linearly weighted moving average (LWMA) on the input data and then applies another LWMA on the result. By doing this, the function creates a moving average that closely follows the price action, reducing the lag and improving the responsiveness of the indicator.
The zero-lag moving average function is used in the indicator to provide a responsive, low-lag smoothing of the input data. This function helps reduce the noise and fluctuations in the data, making it easier to identify and analyze underlying trends and patterns. By minimizing the lag associated with traditional moving averages, this function allows the indicator to react more quickly to changes in market conditions, providing timely signals and improving the overall effectiveness of the indicator.
Bartels Probability:
The Bartels probability function calculates the probability of a given cycle being significant in a time series. It uses a mathematical test called the Bartels test to assess the significance of cycles detected in the data. The function calculates coefficients for each detected cycle and computes an average amplitude and an expected amplitude. By comparing these values, the Bartels probability is derived, indicating the likelihood of a cycle's significance. This information can help in identifying and analyzing dominant cycles in financial markets.
The Bartels probability function is incorporated into the indicator to assess the significance of detected cycles in the input data. By calculating the Bartels probability for each cycle, the indicator can prioritize the most significant cycles and focus on the market dynamics that are most relevant to the current trading environment. This function enhances the indicator's ability to identify dominant market cycles, improving its predictive power and aiding in the development of effective trading strategies.
Detrend Logarithmic Zero-Lag Regression:
The detrend logarithmic zero-lag regression function is used for detrending data while minimizing lag. It combines a zero-lag moving average with a linear regression detrending method. The function first calculates the zero-lag moving average of the logarithm of input data and then applies a linear regression to remove the trend. By detrending the data, the function isolates the cyclical components, making it easier to analyze and interpret the underlying market dynamics.
The detrend logarithmic zero-lag regression function is used in the indicator to isolate the cyclical components of the input data. By detrending the data, the function enables the indicator to focus on the cyclical movements in the market, making it easier to analyze and interpret market dynamics. This function is essential for identifying cyclical patterns and understanding the interactions between different market cycles, which can inform trading decisions and enhance overall market understanding.
Bartels Cycle Significance Test:
The Bartels cycle significance test is a function that combines the Bartels probability function and the detrend logarithmic zero-lag regression function to assess the significance of detected cycles. The function calculates the Bartels probability for each cycle and stores the results in an array. By analyzing the probability values, traders and analysts can identify the most significant cycles in the data, which can be used to develop trading strategies and improve market understanding.
The Bartels cycle significance test function is integrated into the indicator to provide a comprehensive analysis of the significance of detected cycles. By combining the Bartels probability function and the detrend logarithmic zero-lag regression function, this test evaluates the significance of each cycle and stores the results in an array. The indicator can then use this information to prioritize the most significant cycles and focus on the most relevant market dynamics. This function enhances the indicator's ability to identify and analyze dominant market cycles, providing valuable insights for trading and market analysis.
Hodrick-Prescott Filter:
The Hodrick-Prescott filter is a popular technique used to separate the trend and cyclical components of a time series. The function applies a smoothing parameter to the input data and calculates a smoothed series using a two-sided filter. This smoothed series represents the trend component, which can be subtracted from the original data to obtain the cyclical component. The Hodrick-Prescott filter is commonly used in economics and finance to analyze economic data and financial market trends.
The Hodrick-Prescott filter is incorporated into the indicator to separate the trend and cyclical components of the input data. By applying the filter to the data, the indicator can isolate the trend component, which can be used to analyze long-term market trends and inform trading decisions. Additionally, the cyclical component can be used to identify shorter-term market dynamics and provide insights into potential trading opportunities. The inclusion of the Hodrick-Prescott filter adds another layer of analysis to the indicator, making it more versatile and comprehensive.
Detrending Options: Detrend Centered Moving Average:
The detrend centered moving average function provides different detrending methods, including the Hodrick-Prescott filter and the zero-lag moving average, based on the selected detrending method. The function calculates two sets of smoothed values using the chosen method and subtracts one set from the other to obtain a detrended series. By offering multiple detrending options, this function allows traders and analysts to select the most appropriate method for their specific needs and preferences.
The detrend centered moving average function is integrated into the indicator to provide users with multiple detrending options, including the Hodrick-Prescott filter and the zero-lag moving average. By offering multiple detrending methods, the indicator allows users to customize the analysis to their specific needs and preferences, enhancing the indicator's overall utility and adaptability. This function ensures that the indicator can cater to a wide range of trading styles and objectives, making it a valuable tool for a diverse group of market participants.
The auxiliary functions functions discussed in this section demonstrate the power and versatility of mathematical techniques in analyzing financial markets. By understanding and implementing these functions, traders and analysts can gain valuable insights into market dynamics, improve their trading strategies, and make more informed decisions. The combination of zero-lag moving averages, Bartels probability, detrending methods, and the Hodrick-Prescott filter provides a comprehensive toolkit for analyzing and interpreting financial data. The integration of advanced functions in a financial indicator creates a powerful and versatile analytical tool that can provide valuable insights into financial markets. By combining the zero-lag moving average,
█ In-Depth Analysis of the Goertzel Browser Code
The Goertzel Browser code is an implementation of the Goertzel Algorithm, an efficient technique to perform spectral analysis on a signal. The code is designed to detect and analyze dominant cycles within a given financial market data set. This section will provide an extremely detailed explanation of the code, its structure, functions, and intended purpose.
Function signature and input parameters:
The Goertzel Browser function accepts numerous input parameters for customization, including source data (src), the current bar (forBar), sample size (samplesize), period (per), squared amplitude flag (squaredAmp), addition flag (useAddition), cosine flag (useCosine), cycle strength flag (UseCycleStrength), past and future window sizes (WindowSizePast, WindowSizeFuture), Bartels filter flag (FilterBartels), Bartels-related parameters (BartNoCycles, BartSmoothPer, BartSigLimit), sorting flag (SortBartels), and output buffers (goeWorkPast, goeWorkFuture, cyclebuffer, amplitudebuffer, phasebuffer, cycleBartelsBuffer).
Initializing variables and arrays:
The code initializes several float arrays (goeWork1, goeWork2, goeWork3, goeWork4) with the same length as twice the period (2 * per). These arrays store intermediate results during the execution of the algorithm.
Preprocessing input data:
The input data (src) undergoes preprocessing to remove linear trends. This step enhances the algorithm's ability to focus on cyclical components in the data. The linear trend is calculated by finding the slope between the first and last values of the input data within the sample.
Iterative calculation of Goertzel coefficients:
The core of the Goertzel Browser algorithm lies in the iterative calculation of Goertzel coefficients for each frequency bin. These coefficients represent the spectral content of the input data at different frequencies. The code iterates through the range of frequencies, calculating the Goertzel coefficients using a nested loop structure.
Cycle strength computation:
The code calculates the cycle strength based on the Goertzel coefficients. This is an optional step, controlled by the UseCycleStrength flag. The cycle strength provides information on the relative influence of each cycle on the data per bar, considering both amplitude and cycle length. The algorithm computes the cycle strength either by squaring the amplitude (controlled by squaredAmp flag) or using the actual amplitude values.
Phase calculation:
The Goertzel Browser code computes the phase of each cycle, which represents the position of the cycle within the input data. The phase is calculated using the arctangent function (math.atan) based on the ratio of the imaginary and real components of the Goertzel coefficients.
Peak detection and cycle extraction:
The algorithm performs peak detection on the computed amplitudes or cycle strengths to identify dominant cycles. It stores the detected cycles in the cyclebuffer array, along with their corresponding amplitudes and phases in the amplitudebuffer and phasebuffer arrays, respectively.
Sorting cycles by amplitude or cycle strength:
The code sorts the detected cycles based on their amplitude or cycle strength in descending order. This allows the algorithm to prioritize cycles with the most significant impact on the input data.
Bartels cycle significance test:
If the FilterBartels flag is set, the code performs a Bartels cycle significance test on the detected cycles. This test determines the statistical significance of each cycle and filters out the insignificant cycles. The significant cycles are stored in the cycleBartelsBuffer array. If the SortBartels flag is set, the code sorts the significant cycles based on their Bartels significance values.
Waveform calculation:
The Goertzel Browser code calculates the waveform of the significant cycles for both past and future time windows. The past and future windows are defined by the WindowSizePast and WindowSizeFuture parameters, respectively. The algorithm uses either cosine or sine functions (controlled by the useCosine flag) to calculate the waveforms for each cycle. The useAddition flag determines whether the waveforms should be added or subtracted.
Storing waveforms in matrices:
The calculated waveforms for each cycle are stored in two matrices - goeWorkPast and goeWorkFuture. These matrices hold the waveforms for the past and future time windows, respectively. Each row in the matrices represents a time window position, and each column corresponds to a cycle.
Returning the number of cycles:
The Goertzel Browser function returns the total number of detected cycles (number_of_cycles) after processing the input data. This information can be used to further analyze the results or to visualize the detected cycles.
The Goertzel Browser code is a comprehensive implementation of the Goertzel Algorithm, specifically designed for detecting and analyzing dominant cycles within financial market data. The code offers a high level of customization, allowing users to fine-tune the algorithm based on their specific needs. The Goertzel Browser's combination of preprocessing, iterative calculations, cycle extraction, sorting, significance testing, and waveform calculation makes it a powerful tool for understanding cyclical components in financial data.
█ Generating and Visualizing Composite Waveform
The indicator calculates and visualizes the composite waveform for both past and future time windows based on the detected cycles. Here's a detailed explanation of this process:
Updating WindowSizePast and WindowSizeFuture:
The WindowSizePast and WindowSizeFuture are updated to ensure they are at least twice the MaxPer (maximum period).
Initializing matrices and arrays:
Two matrices, goeWorkPast and goeWorkFuture, are initialized to store the Goertzel results for past and future time windows. Multiple arrays are also initialized to store cycle, amplitude, phase, and Bartels information.
Preparing the source data (srcVal) array:
The source data is copied into an array, srcVal, and detrended using one of the selected methods (hpsmthdt, zlagsmthdt, logZlagRegression, hpsmth, or zlagsmth).
Goertzel function call:
The Goertzel function is called to analyze the detrended source data and extract cycle information. The output, number_of_cycles, contains the number of detected cycles.
Initializing arrays for past and future waveforms:
Three arrays, epgoertzel, goertzel, and goertzelFuture, are initialized to store the endpoint Goertzel, non-endpoint Goertzel, and future Goertzel projections, respectively.
Calculating composite waveform for past bars (goertzel array):
The past composite waveform is calculated by summing the selected cycles (either from the user-defined cycle list or the top cycles) and optionally subtracting the noise component.
Calculating composite waveform for future bars (goertzelFuture array):
The future composite waveform is calculated in a similar way as the past composite waveform.
Drawing past composite waveform (pvlines):
The past composite waveform is drawn on the chart using solid lines. The color of the lines is determined by the direction of the waveform (green for upward, red for downward).
Drawing future composite waveform (fvlines):
The future composite waveform is drawn on the chart using dotted lines. The color of the lines is determined by the direction of the waveform (fuchsia for upward, yellow for downward).
Displaying cycle information in a table (table3):
A table is created to display the cycle information, including the rank, period, Bartel value, amplitude (or cycle strength), and phase of each detected cycle.
Filling the table with cycle information:
The indicator iterates through the detected cycles and retrieves the relevant information (period, amplitude, phase, and Bartel value) from the corresponding arrays. It then fills the table with this information, displaying the values up to six decimal places.
To summarize, this indicator generates a composite waveform based on the detected cycles in the financial data. It calculates the composite waveforms for both past and future time windows and visualizes them on the chart using colored lines. Additionally, it displays detailed cycle information in a table, including the rank, period, Bartel value, amplitude (or cycle strength), and phase of each detected cycle.
█ Enhancing the Goertzel Algorithm-Based Script for Financial Modeling and Trading
The Goertzel algorithm-based script for detecting dominant cycles in financial data is a powerful tool for financial modeling and trading. It provides valuable insights into the past behavior of these cycles and potential future impact. However, as with any algorithm, there is always room for improvement. This section discusses potential enhancements to the existing script to make it even more robust and versatile for financial modeling, general trading, advanced trading, and high-frequency finance trading.
Enhancements for Financial Modeling
Data preprocessing: One way to improve the script's performance for financial modeling is to introduce more advanced data preprocessing techniques. This could include removing outliers, handling missing data, and normalizing the data to ensure consistent and accurate results.
Additional detrending and smoothing methods: Incorporating more sophisticated detrending and smoothing techniques, such as wavelet transform or empirical mode decomposition, can help improve the script's ability to accurately identify cycles and trends in the data.
Machine learning integration: Integrating machine learning techniques, such as artificial neural networks or support vector machines, can help enhance the script's predictive capabilities, leading to more accurate financial models.
Enhancements for General and Advanced Trading
Customizable indicator integration: Allowing users to integrate their own technical indicators can help improve the script's effectiveness for both general and advanced trading. By enabling the combination of the dominant cycle information with other technical analysis tools, traders can develop more comprehensive trading strategies.
Risk management and position sizing: Incorporating risk management and position sizing functionality into the script can help traders better manage their trades and control potential losses. This can be achieved by calculating the optimal position size based on the user's risk tolerance and account size.
Multi-timeframe analysis: Enhancing the script to perform multi-timeframe analysis can provide traders with a more holistic view of market trends and cycles. By identifying dominant cycles on different timeframes, traders can gain insights into the potential confluence of cycles and make better-informed trading decisions.
Enhancements for High-Frequency Finance Trading
Algorithm optimization: To ensure the script's suitability for high-frequency finance trading, optimizing the algorithm for faster execution is crucial. This can be achieved by employing efficient data structures and refining the calculation methods to minimize computational complexity.
Real-time data streaming: Integrating real-time data streaming capabilities into the script can help high-frequency traders react to market changes more quickly. By continuously updating the cycle information based on real-time market data, traders can adapt their strategies accordingly and capitalize on short-term market fluctuations.
Order execution and trade management: To fully leverage the script's capabilities for high-frequency trading, implementing functionality for automated order execution and trade management is essential. This can include features such as stop-loss and take-profit orders, trailing stops, and automated trade exit strategies.
While the existing Goertzel algorithm-based script is a valuable tool for detecting dominant cycles in financial data, there are several potential enhancements that can make it even more powerful for financial modeling, general trading, advanced trading, and high-frequency finance trading. By incorporating these improvements, the script can become a more versatile and effective tool for traders and financial analysts alike.
█ Understanding the Limitations of the Goertzel Algorithm
While the Goertzel algorithm-based script for detecting dominant cycles in financial data provides valuable insights, it is important to be aware of its limitations and drawbacks. Some of the key drawbacks of this indicator are:
Lagging nature:
As with many other technical indicators, the Goertzel algorithm-based script can suffer from lagging effects, meaning that it may not immediately react to real-time market changes. This lag can lead to late entries and exits, potentially resulting in reduced profitability or increased losses.
Parameter sensitivity:
The performance of the script can be sensitive to the chosen parameters, such as the detrending methods, smoothing techniques, and cycle detection settings. Improper parameter selection may lead to inaccurate cycle detection or increased false signals, which can negatively impact trading performance.
Complexity:
The Goertzel algorithm itself is relatively complex, making it difficult for novice traders or those unfamiliar with the concept of cycle analysis to fully understand and effectively utilize the script. This complexity can also make it challenging to optimize the script for specific trading styles or market conditions.
Overfitting risk:
As with any data-driven approach, there is a risk of overfitting when using the Goertzel algorithm-based script. Overfitting occurs when a model becomes too specific to the historical data it was trained on, leading to poor performance on new, unseen data. This can result in misleading signals and reduced trading performance.
No guarantee of future performance: While the script can provide insights into past cycles and potential future trends, it is important to remember that past performance does not guarantee future results. Market conditions can change, and relying solely on the script's predictions without considering other factors may lead to poor trading decisions.
Limited applicability: The Goertzel algorithm-based script may not be suitable for all markets, trading styles, or timeframes. Its effectiveness in detecting cycles may be limited in certain market conditions, such as during periods of extreme volatility or low liquidity.
While the Goertzel algorithm-based script offers valuable insights into dominant cycles in financial data, it is essential to consider its drawbacks and limitations when incorporating it into a trading strategy. Traders should always use the script in conjunction with other technical and fundamental analysis tools, as well as proper risk management, to make well-informed trading decisions.
█ Interpreting Results
The Goertzel Browser indicator can be interpreted by analyzing the plotted lines and the table presented alongside them. The indicator plots two lines: past and future composite waves. The past composite wave represents the composite wave of the past price data, and the future composite wave represents the projected composite wave for the next period.
The past composite wave line displays a solid line, with green indicating a bullish trend and red indicating a bearish trend. On the other hand, the future composite wave line is a dotted line with fuchsia indicating a bullish trend and yellow indicating a bearish trend.
The table presented alongside the indicator shows the top cycles with their corresponding rank, period, Bartels, amplitude or cycle strength, and phase. The amplitude is a measure of the strength of the cycle, while the phase is the position of the cycle within the data series.
Interpreting the Goertzel Browser indicator involves identifying the trend of the past and future composite wave lines and matching them with the corresponding bullish or bearish color. Additionally, traders can identify the top cycles with the highest amplitude or cycle strength and utilize them in conjunction with other technical indicators and fundamental analysis for trading decisions.
This indicator is considered a repainting indicator because the value of the indicator is calculated based on the past price data. As new price data becomes available, the indicator's value is recalculated, potentially causing the indicator's past values to change. This can create a false impression of the indicator's performance, as it may appear to have provided a profitable trading signal in the past when, in fact, that signal did not exist at the time.
The Goertzel indicator is also non-endpointed, meaning that it is not calculated up to the current bar or candle. Instead, it uses a fixed amount of historical data to calculate its values, which can make it difficult to use for real-time trading decisions. For example, if the indicator uses 100 bars of historical data to make its calculations, it cannot provide a signal until the current bar has closed and become part of the historical data. This can result in missed trading opportunities or delayed signals.
█ Conclusion
The Goertzel Browser indicator is a powerful tool for identifying and analyzing cyclical patterns in financial markets. Its ability to detect multiple cycles of varying frequencies and strengths make it a valuable addition to any trader's technical analysis toolkit. However, it is important to keep in mind that the Goertzel Browser indicator should be used in conjunction with other technical analysis tools and fundamental analysis to achieve the best results. With continued refinement and development, the Goertzel Browser indicator has the potential to become a highly effective tool for financial modeling, general trading, advanced trading, and high-frequency finance trading. Its accuracy and versatility make it a promising candidate for further research and development.
█ Footnotes
What is the Bartels Test for Cycle Significance?
The Bartels Cycle Significance Test is a statistical method that determines whether the peaks and troughs of a time series are statistically significant. The test is named after its inventor, George Bartels, who developed it in the mid-20th century.
The Bartels test is designed to analyze the cyclical components of a time series, which can help traders and analysts identify trends and cycles in financial markets. The test calculates a Bartels statistic, which measures the degree of non-randomness or autocorrelation in the time series.
The Bartels statistic is calculated by first splitting the time series into two halves and calculating the range of the peaks and troughs in each half. The test then compares these ranges using a t-test, which measures the significance of the difference between the two ranges.
If the Bartels statistic is greater than a critical value, it indicates that the peaks and troughs in the time series are non-random and that there is a significant cyclical component to the data. Conversely, if the Bartels statistic is less than the critical value, it suggests that the peaks and troughs are random and that there is no significant cyclical component.
The Bartels Cycle Significance Test is particularly useful in financial analysis because it can help traders and analysts identify significant cycles in asset prices, which can in turn inform investment decisions. However, it is important to note that the test is not perfect and can produce false signals in certain situations, particularly in noisy or volatile markets. Therefore, it is always recommended to use the test in conjunction with other technical and fundamental indicators to confirm trends and cycles.
Deep-dive into the Hodrick-Prescott Fitler
The Hodrick-Prescott (HP) filter is a statistical tool used in economics and finance to separate a time series into two components: a trend component and a cyclical component. It is a powerful tool for identifying long-term trends in economic and financial data and is widely used by economists, central banks, and financial institutions around the world.
The HP filter was first introduced in the 1990s by economists Robert Hodrick and Edward Prescott. It is a simple, two-parameter filter that separates a time series into a trend component and a cyclical component. The trend component represents the long-term behavior of the data, while the cyclical component captures the shorter-term fluctuations around the trend.
The HP filter works by minimizing the following objective function:
Minimize: (Sum of Squared Deviations) + λ (Sum of Squared Second Differences)
Where:
The first term represents the deviation of the data from the trend.
The second term represents the smoothness of the trend.
λ is a smoothing parameter that determines the degree of smoothness of the trend.
The smoothing parameter λ is typically set to a value between 100 and 1600, depending on the frequency of the data. Higher values of λ lead to a smoother trend, while lower values lead to a more volatile trend.
The HP filter has several advantages over other smoothing techniques. It is a non-parametric method, meaning that it does not make any assumptions about the underlying distribution of the data. It also allows for easy comparison of trends across different time series and can be used with data of any frequency.
However, the HP filter also has some limitations. It assumes that the trend is a smooth function, which may not be the case in some situations. It can also be sensitive to changes in the smoothing parameter λ, which may result in different trends for the same data. Additionally, the filter may produce unrealistic trends for very short time series.
Despite these limitations, the HP filter remains a valuable tool for analyzing economic and financial data. It is widely used by central banks and financial institutions to monitor long-term trends in the economy, and it can be used to identify turning points in the business cycle. The filter can also be used to analyze asset prices, exchange rates, and other financial variables.
The Hodrick-Prescott filter is a powerful tool for analyzing economic and financial data. It separates a time series into a trend component and a cyclical component, allowing for easy identification of long-term trends and turning points in the business cycle. While it has some limitations, it remains a valuable tool for economists, central banks, and financial institutions around the world.
LNL Smart TICKLNL Smart TICK
This study is mostly beneficial for intraday traders. It is basically a user-friendly "colorful" representation of the $TICK chart with highlighted $TICK extremes. This indicator also includes: a simple trend gauge that can visualize the bias for the day, cumulative tick cloud which is showing the cumulative strength of either longs & shorts on the day.
$TICK Trend Gauge
Although it is just a exponential moving average. This average (default set on 20) works quite well as an overall gauge for the day. Whenever the gauge is green (above zero), any negative $TICK values below -500 can offer great pullback opportunities. Same applies for the red gauge. 20 EMA is below zero ? Great time to fade any +500 or +1000 tick readings. Obviously the gauge can be ajdusted to any number based on personal style.
$TICK Extremes (little triangles)
These little triangles are triggered anytime $TICK jumps above or below the pre-set values of +1000 or -1000. By just simply observing the $TICK triangles during the day can tell you how much volaility or pressure there is. Sometimes there will be 20 green triangles and only 2 red ones. That obviously mean there is a strong bearish pressure. But there will be days when you are not going to see any triangles at all which can mean there is either a low volatility or the price is stuck in the indecisive market.
Cumulative $TICK Cloud
Cumulative $TICK by itself is a great study for day traders. It is basically running "counting" $TICK that is adding the previous $TICK values from previous bars. Cumulative $TICK can create a direct picture of the current market sentiment. It is not just a simple green / red line but a cloud that can really show you the depth on the $TICK. Some days, the cloud will be quite wide which is a good sign for the strength to one side, but sometimes the cloud will be so narrow it will practically disappear. This would be telling you the exact opposite - not much conviction to any side. Of course the depth as well as the color of the cloud can change during the day.
$TICK & Cumulative $TICK Tables
By just looking at these tables. You can immidiately tell the state of the current $TICK. They both can be red or green. It all depends whether the values are positive or negative. The tables are just a little visual addition to the whole $TICK study.
Hope it helps.
Swing Counter [theEccentricTrader]█ OVERVIEW
This indicator counts the number of confirmed swing high and swing low scenarios on any given candlestick chart and displays the statistics in a table, which can be repositioned and resized at the user's discretion.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a high price equal to or above the price it opened.
• A red candle is one that closes with a low price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Peak and Trough Prices (Advanced)
• The advanced peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the highest preceding green candle high price, depending on which is higher.
• The advanced trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the lowest preceding red candle low price, depending on which is lower.
Green and Red Peaks and Troughs
• A green peak is one that derives its price from the green candle/s that constitute the swing high.
• A red peak is one that derives its price from the red candle that completes the swing high.
• A green trough is one that derives its price from the green candle that completes the swing low.
• A red trough is one that derives its price from the red candle/s that constitute the swing low.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Upper Trends
• A return line uptrend is formed when the current peak price is higher than the preceding peak price.
• A downtrend is formed when the current peak price is lower than the preceding peak price.
• A double-top is formed when the current peak price is equal to the preceding peak price.
Lower Trends
• An uptrend is formed when the current trough price is higher than the preceding trough price.
• A return line downtrend is formed when the current trough price is lower than the preceding trough price.
• A double-bottom is formed when the current trough price is equal to the preceding trough price.
█ FEATURES
Inputs
• Start Date
• End Date
• Position
• Text Size
• Show Sample Period
• Show Plots
• Show Lines
Table
The table is colour coded, consists of three columns and nine rows. Blue cells denote neutral scenarios, green cells denote return line uptrend and uptrend scenarios, and red cells denote downtrend and return line downtrend scenarios.
The swing scenarios are listed in the first column with their corresponding total counts to the right, in the second column. The last row in column one, row nine, displays the sample period which can be adjusted or hidden via indicator settings.
Rows three and four in the third column of the table display the total higher peaks and higher troughs as percentages of total peaks and troughs, respectively. Rows five and six in the third column display the total lower peaks and lower troughs as percentages of total peaks and troughs, respectively. And rows seven and eight display the total double-top peaks and double-bottom troughs as percentages of total peaks and troughs, respectively.
Plots
I have added plots as a visual aid to the swing scenarios listed in the table. Green up-arrows with ‘HP’ denote higher peaks, while green up-arrows with ‘HT’ denote higher troughs. Red down-arrows with ‘LP’ denote higher peaks, while red down-arrows with ‘LT’ denote lower troughs. Similarly, blue diamonds with ‘DT’ denote double-top peaks and blue diamonds with ‘DB’ denote double-bottom troughs. These plots can be hidden via indicator settings.
Lines
I have also added green and red trendlines as a further visual aid to the swing scenarios listed in the table. Green lines denote return line uptrends (higher peaks) and uptrends (higher troughs), while red lines denote downtrends (lower peaks) and return line downtrends (lower troughs). These lines can be hidden via indicator settings.
█ HOW TO USE
This indicator is intended for research purposes and strategy development. I hope it will be useful in helping to gain a better understanding of the underlying dynamics at play on any given market and timeframe. It can, for example, give you an idea of any inherent biases such as a greater proportion of higher peaks to lower peaks. Or a greater proportion of higher troughs to lower troughs. Such information can be very useful when conducting top down analysis across multiple timeframes, or considering entry and exit methods.
What I find most fascinating about this logic, is that the number of swing highs and swing lows will always find equilibrium on each new complete wave cycle. If for example the chart begins with a swing high and ends with a swing low there will be an equal number of swing highs to swing lows. If the chart starts with a swing high and ends with a swing high there will be a difference of one between the two total values until another swing low is formed to complete the wave cycle sequence that began at start of the chart. Almost as if it was a fundamental truth of price action, although quite common sensical in many respects. As they say, what goes up must come down.
The objective logic for swing highs and swing lows I hope will form somewhat of a foundational building block for traders, researchers and developers alike. Not only does it facilitate the objective study of swing highs and swing lows it also facilitates that of ranges, trends, double trends, multi-part trends and patterns. The logic can also be used for objective anchor points. Concepts I will introduce and develop further in future publications.
█ LIMITATIONS
Some higher timeframe candles on tickers with larger lookbacks such as the DXY , do not actually contain all the open, high, low and close (OHLC) data at the beginning of the chart. Instead, they use the close price for open, high and low prices. So, while we can determine whether the close price is higher or lower than the preceding close price, there is no way of knowing what actually happened intra-bar for these candles. And by default candles that close at the same price as the open price, will be counted as green. You can avoid this problem by utilising the sample period filter.
The green and red candle calculations are based solely on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with. Alternatively, you can replace the scenarios with your own logic to account for the gap anomalies, if you are feeling up to the challenge.
The sample size will be limited to your Trading View subscription plan. Premium users get 20,000 candles worth of data, pro+ and pro users get 10,000, and basic users get 5,000. If upgrading is currently not an option, you can always keep a rolling tally of the statistics in an excel spreadsheet or something of the like.
█ NOTES
I feel it important to address the mention of advanced peak and trough price logic. While I have introduced the concept, I have not included the logic in my script for a number of reasons. The most pertinent of which being the amount of extra work I would have to do to include it in a public release versus the actual difference it would make to the statistics. Based on my experience, there are actually only a small number of cases where the advanced peak and trough prices are different from the basic peak and trough prices. And with adequate multi-timeframe analysis any high or low prices that are not captured using basic peak and trough price logic on any given time frame, will no doubt be captured on a higher timeframe. See the example below on the 1H FOREXCOM:USDJPY chart (Figure 1), where the basic peak price logic denoted by the indicator plot does not capture what would be the advanced peak price, but on the 2H FOREXCOM:USDJPY chart (Figure 2), the basic peak logic does capture the advanced peak price from the 1H timeframe.
Figure 1.
Figure 2.
█ RAMBLINGS
“Never was there an age that placed economic interests higher than does our own. Never was the need of a scientific foundation for economic affairs felt more generally or more acutely. And never was the ability of practical men to utilize the achievements of science, in all fields of human activity, greater than in our day. If practical men, therefore, rely wholly on their own experience, and disregard our science in its present state of development, it cannot be due to a lack of serious interest or ability on their part. Nor can their disregard be the result of a haughty rejection of the deeper insight a true science would give into the circumstances and relationships determining the outcome of their activity. The cause of such remarkable indifference must not be sought elsewhere than in the present state of our science itself, in the sterility of all past endeavours to find its empirical foundations.” (Menger, 1871, p.45).
█ BIBLIOGRAPHY
Menger, C. (1871) Principles of Economics. Reprint, Auburn, Alabama: Ludwig Von Mises Institute: 2007.
Tape [LucF]█ OVERVIEW
This script prints an ersatz of a trading console's "tape" section to the right of your chart. It displays the time, price and volume of each update of the chart's feed. It also calculates volume delta for the bar. As it calculates from realtime information, it will not display information on historical bars.
█ FEATURES
Calculations
Each new line in the tape displays the last price/volume update from the TradingView feed that's building your chart. These updates do not necessarily correspond to ticks from the originating broker/exchange's matching engine. Multiple broker/exchange ticks are often aggregated in one chart update.
The script first determines if price has moved up or down since the last update. The polarity of the price change, in turn, determines the polarity of the volume for that specific update. If price does not move between consecutive updates, then the last known polarity is used. Using this method, we can calculate a running volume delta accumulation for the bar, which becomes the bar's final volume delta value when the bar closes (you can inspect values of elapsed realtime bars in the Data Window or the indicator's values). Note that these values will all reset if the script re-executes because of a change in inputs or a chart refresh.
While this method of calculating volume delta is not perfect, it is currently the most precise way of calculating volume delta available on TradingView at the moment. Calculating more precise results would require scripts to have access to bid/ask levels from any chart timeframe. Charts at seconds timeframes do use exchange/broker ticks when the feeds you are using allow for it, and this indicator will run on them, but tick data is not yet available from higher timeframes, for now. Also note that the method used in this script is far superior to the intrabar inspection technique used on historical bars in my other "Delta Volume" indicators. This is because volume delta here is calculated from many more realtime updates than the available intrabars in history.
Inputs
You can use the script's inputs to configure:
• The number of lines displayed in the tape.
• If new lines appear at the top or bottom.
• If you want to hide lines with low volume.
• The precision of volume values.
• The size of the text and the colors used to highlight either the tape's text or background.
• The position where you want the tape on your chart.
• Conditions triggering three different markers.
Display
Deltas are shown at the bottom of the tape. They are reset on each bar. Time delta displays the time elapsed since the beginning of the bar, on intraday timeframes only. Contrary to the price change display by TradingView at the top left of charts, which is calculated from the close of the previous bar, the price delta in the tape is calculated from the bar's open, because that's the information used in the calculation of volume delta. The time will become orange when volume delta's polarity diverges from that of the bar. The volume delta value represents the current, cumulative value for the bar. Its color reflects its polarity.
When new realtime bars appear on the chart, a ↻ symbol will appear before the volume value in tape lines.
Markers
There are three types of markers you can choose to display:
• Marker 1 on volume bumps. A bump is defined as two consecutive and increasing/decreasing plus/minus delta volume values,
when no divergence between the polarity of delta volume and the bar occurs on the second bar.
• Marker 2 on volume delta for the bar exceeding a limit of your choice when there is no divergence between the polarity of delta volume and the bar. These trigger at the bar's close.
• Marker 3 on tape lines with volume exceeding a threshold. These trigger in realtime. Be sure to set a threshold high enough so that it doesn't generate too many alerts.
These markers will only display briefly under the bar, but another marker appears next to the relevant line in the tape.
The marker conditions are used to trigger alerts configured on the script. Alert messages will mention the marker(s) that triggered the specific alert event, along with the relevant volume value that triggered the marker. If more than one marker triggers a single alert, they will overprint under the bar, which can make it difficult to distinguish them.
For more detailed on-chart analysis of realtime volume delta, see my Delta Volume Realtime Action .
█ NOTES FOR CODERS
This script showcases two new Pine features:
• Tables, which allow Pine programmers to display tabular information in fixed locations of the chart. The tape uses this feature.
See the Pine User Manual's page on Tables for more information.
• varip -type variables which we can use to save values between realtime updates.
See the " Using `varip` variables " publication by PineCoders for more information.
Beta Zones [MMT]Beta Zones
Overview
The Beta Zones indicator is a multi-timeframe analysis tool designed to identify and visualize price ranges (zones) across different timeframes on a TradingView chart. It draws boxes to represent high and low price levels for each enabled timeframe, helping traders spot key support and resistance zones, track price movements, and assess market signals relative to these zones. The indicator is highly customizable, allowing users to toggle timeframes, adjust colors, and control historical visibility.
Features
Multi-Timeframe Support : Tracks up to five user-defined timeframes (default: 15m, 1H, 4H, 1D, 1W) to display price zones.
Dynamic Price Boxes : Draws boxes on the chart to represent the high and low prices for each timeframe, updating dynamically as new bars form.
Signal Indicators : Provides directional signals (▲, ▼, →) based on the previous close relative to the current box's top and bottom.
Customizable Display : Includes options to show or hide historical boxes, adjust box colors, and configure a summary table.
Summary Table : Displays a table with timeframe status, price range, and signal information for quick reference.
Settings
Timeframes
Enable/Disable : Toggle each timeframe (e.g., 15m, 1H, 4H, 1D, 1W) to display or hide its respective zones.
Timeframe Selection : Choose custom timeframes for each of the five slots.
Color Customization : Set unique fill and border colors for each timeframe's boxes (default colors: green, blue, orange, purple, red).
Display
Max Historical Boxes : Limit the number of historical boxes per timeframe (default: 1, max: 50).
Show History : Toggle visibility of historical boxes (default: false, showing only the latest box).
Min Box Height : Ensures boxes have a minimum height in ticks (default: 1.0, currently hardcoded).
Table
Show Table : Enable or disable the summary table (default: true).
Background Color : Customize the table's background color.
Header Color : Set the color for the table's header row.
Text Color : Adjust the text color for table content.
Table Columns
Timeframe : Displays the selected timeframe (e.g., 15m, 1H).
Color : Shows the color associated with the timeframe's boxes.
Status : Indicates if the timeframe is "Active" (valid and lower than the chart's timeframe), "Invalid" (enabled but not lower), or "Disabled".
Range : Shows the price range (high - low) of the current box.
Signal : Displays ▲ (price above box), ▼ (price below box), or → (price within box) based on the previous close.
How to Use
Add to Chart : Apply the indicator to your TradingView chart.
Configure Timeframes : Enable desired timeframes and adjust their settings (e.g., 15m, 1H) to match your trading strategy.
Analyze Zones : Use the boxes to identify key price levels for support, resistance, or breakout opportunities.
Monitor Signals : Check the table's "Signal" column to gauge price direction relative to each timeframe's zone.
Customize Appearance : Adjust colors and historical box visibility to suit your preferences.
Ideal For
Swing Traders : Identify key price zones across multiple timeframes for entry/exit points.
Day Traders : Monitor short-term price movements relative to higher timeframe zones.
Technical Analysts : Combine with other indicators to confirm support/resistance levels.
Lot Size + Margin InfoThis indicator is designed to give Futures & Options traders instant access to lot size and estimated margin requirements for the instrument they are viewing — directly on their TradingView chart. It combines real-time symbol detection with a built-in, regularly updated margin lookup table (sourced from Kotak Securities’ published margin requirements), while also handling fallback logic for unknown or unsupported symbols.
---
### What It Does
* Automatically Detects the Instrument Type
Identifies whether the current chart’s symbol is a futures contract, option, or a cash/spot instrument.
* Shows Accurate Lot Size
For supported F\&O symbols, it fetches the correct lot size directly from exchange data.
For options, it retrieves the lot size from the option’s point value.
For cash/spot symbols with linked futures, it uses the futures lot size.
* Calculates Estimated Margin
* For futures: `Lot Size × Current Price × Margin%` (Margin% sourced from the internal lookup table).
* For options: `Lot Size × Current Price` (simple multiplication, as options margin ≈ premium cost).
* For unsupported or non-FnO symbols: Displays "No FnO".
* Fallback Margin Logic
If a symbol is missing from the margin lookup table, the script applies a user-defined default margin percentage and highlights the data in orange to indicate it’s using fallback values.
* Debug Mode for Transparency
A toggle to display the exact symbol string used for fetching lot size and margin, so traders can verify the data source.
---
### How It Works
1. Symbol Normalization
The script standardizes symbol names to match the margin table format (e.g., converting `"NIFTY1!"` to `"NIFTY"`).
2. Type-Based Handling
* Futures – Uses point value for lot size, applies specific margin % from the table.
* Options – Uses option point value for lot size, margin is simply premium × lot size.
* Cash Symbols with Linked Futures – Attempts to find and use the associated futures contract for lot/margin data.
* Unsupported Symbols – Displays `"No FnO"`.
3. Margin Table Integration
The margin % table is manually updated from a reliable broker’s margin sheet (Kotak Securities) — ensuring alignment with real trading conditions.
4. Customizable Display
* Position (Top Right / Bottom Left / Bottom Right)
* Table background color, text color, font size, border width
* Editable label text for lot size and margin display
* Toggleable lot size and margin sections
---
### How to Use
1. Add the Indicator to Your Chart – Works on any NSE Futures, Options, or Cash symbol with linked F\&O.
2. Configure Display Settings – Choose whether to show lot size, margin, or both, and place the info table where you prefer.
3. Adjust Fallback Margin % – If you trade less common contracts, set your default margin % to reflect your broker’s requirement.
4. Enable Debug Mode (Optional) – To see the exact symbol source the script is using.
---
### Best For
* Intraday & Positional F\&O Traders who need instant clarity on lot size and margin before entering trades.
* Options Sellers & Buyers who want quick cost estimates.
* Traders Switching Symbols Quickly — saves time by removing the need to check the broker’s margin sheet manually.
---
💡 Pro Tip: Since margin requirements can change, keep the script updated whenever your broker revises margin data. This version’s margin table is updated as of 13-08-2025.
Volume Delta Pressure Tracker by GSK-VIZAG-AP-INDIA📢 Title:
Volume Delta Pressure Tracker by GSK-VIZAG-AP-INDIA
📝 Short Description (for script title box):
Real-time volume pressure tracker with estimated Buy/Sell volumes and Delta visualization in an Indian-friendly format (K, L, Cr).
📃 Full Description
🔍 Overview:
This indicator estimates buy and sell volumes using candle structure (OHLC) and displays a real-time delta table for the last N candles. It provides traders with a quick view of volume imbalance (pressure) — often indicating strength behind price moves.
📊 Features:
📈 Buy/Sell Volume Estimation using the candle’s OHLC and Volume.
⚖️ Delta Calculation (Buy Vol - Sell Vol) to detect pressure zones.
📅 Time-stamped Table displaying:
Time (HH:MM)
Buy Volume (Green)
Sell Volume (Red)
Delta (Color-coded)
🔢 Indian Number Format (K = Thousands, L = Lakhs, Cr = Crores).
🧠 Fully auto-calculated — no need for tick-by-tick bid/ask feed.
📍 Neatly placed bottom-right table, customizable number of rows.
🛠️ Inputs:
Show Table: Toggle the table on/off
Number of Bars to Show: Choose how many recent candles to include (5–50)
🎯 Use Cases:
Identify hidden buyer/seller strength
Detect volume absorption or exhaustion
✅ Compatibility:
Works on any timeframe
Ideal for intraday instruments like NIFTY, BANKNIFTY, etc.
Ideal for volume-based strategy confirmation.
🖋️ Developed by:
GSK-VIZAG-AP-INDIA
PipsHunters Trading ChecklistTitle: PipsHunters Trading Checklist (PHTC)
Short Description / Teaser:
Enforce trading discipline and never miss a step in your pre-trade analysis with this simple, interactive, on-chart checklist.
Full Description:
🚀 Overview
The PipsHunters Trading Checklist (PHTC) is a powerful yet simple tool designed to instill discipline and structure into your trading routine. In the heat of the moment, it's easy to forget crucial steps of your analysis, leading to impulsive and low-probability trades. This indicator acts as your personal co-pilot, providing a persistent, on-chart checklist that you must manually complete before taking a trade.
This is not an automated signal generator. It is a utility to keep you accountable to your own trading plan. The checklist items are inspired by common concepts in price action and Smart Money Concepts (SMC) methodologies, but they serve any trader who follows a rule-based system.
✨ Key Features
Interactive On-Chart Table: Displays a clean, non-intrusive table directly on your chart.
Manual Check-off System: You are in full control. Go into the indicator settings and check off each item as you complete your analysis.
Real-Time Progress Tracking: The table header shows your progress (e.g., 4/7) and changes color from red to green when all items are checked.
Clear Visual Cues: Each item is marked with a ✅ or ❌, and the text color changes to provide an at-a-glance status.
"Ready!" Status: A final "READY!" confirmation appears once your entire checklist is complete, giving you the green light to look for an entry based on your strategy.
Fully Customizable Position: Place the table in any corner of your chart (Top Left, Top Right, Bottom Left, Bottom Right) to suit your layout.
📋 The Checklist Items Explained
The default checklist guides you through a structured, top-down analysis process common in many trading strategies:
Seat before 1H: A reminder to be settled and mentally prepared at your desk at least an hour before your target session begins. Avoids rushing and emotional decisions.
Check News: Have you checked for high-impact news events that could introduce extreme volatility and invalidate your setup?
Mark Day Open: The daily open is a key institutional level. Marking it helps establish the daily bias.
Mark LQ Levels: Have you identified key Liquidity (LQ) levels? This includes previous day/week highs and lows, session highs/lows, and other obvious swing points.
Wait for Kill Zone: A reminder to be patient and wait for price to trade into a specific, high-probability time window (e.g., London Kill Zone, New York Kill Zone).
LQ sweep inside Kill Zone: The core of the setup. Has price swept a key liquidity level within your chosen Kill Zone?
Lower TF Confirmations: After the liquidity sweep, have you waited for confirmation on a lower timeframe? This is often a Market Structure Shift (MSS) or Change of Character (CHoCH).
🛠️ How to Use
Add the "PipsHunters Trading Checklist" indicator to your chart.
Go to the indicator's Settings (click the gear icon ⚙️).
As you perform each step of your pre-trade analysis, tick the corresponding checkbox in the Inputs tab.
The on-chart table will update instantly to reflect your progress.
Only when all 7 items are checked will the table signal "READY!".
🎯 Who Is This For?
This indicator is perfect for:
SMC / ICT Traders: The checklist items align directly with Smart Money Concepts.
New Traders: Helps build the essential habit of a consistent pre-trade routine.
Inconsistent Traders: Acts as a guardrail to prevent impulsive, undisciplined entries.
Any Rule-Based Trader: Anyone who follows a trading plan can benefit from the structure it provides.
Disclaimer: This is a utility tool to aid in discipline and execution. It does not provide financial advice or guarantee profitable trades. All trading involves risk, and you are solely responsible for your own decisions. Trade safe and stay disciplined!
ATR Plots + OverlayATR Plots + Overlay
This tool calculates and displays Average True Range (ATR)-based levels on your chart for any selected timeframe, giving traders a quick visual reference for expected price movement relative to the most recent bar’s open price. It plots guide levels above and below that open and shows how much of the typical ATR-based range has already been covered—all in one interactive table and on-chart overlay.
What It Does
ATR Calculation:
Uses true range data over a user-defined period (default 14), smoothed via RMA, SMA, EMA, or WMA, on the selected timeframe (e.g., 1h, 4h, daily) to calculate the ATR value.
Projected Levels:
Plots four reference levels relative to the open price of the most recent bar on the chosen timeframe:
+100% ATR: Open + ATR
+50% ATR: Open + 50% of ATR
−50% ATR: Open − 50% of ATR
−100% ATR: Open − ATR
Coverage %:
Tracks high and low prices for the current session on the selected timeframe and calculates what percentage of the ATR has already been covered:
Coverage % = (High − Low) ÷ ATR × 100
Interactive Table:
Shows the ATR value and current coverage percentage in a customizable table overlay. Position, color scheme, borders, transparency, and an optional empty top row are all adjustable via settings.
Customization Options
Table Settings:
Position the table (top/bottom × left/right).
Customize background color, text color, border color, and thickness.
Optionally add an empty top row for spacing.
Line Settings:
Choose color, line style (solid/dotted/dashed), and width.
Lines automatically update with each new bar on the selected timeframe, anchored to that bar’s open price.
General Inputs:
ATR length (number of bars).
Smoothing method (RMA, SMA, EMA, WMA).
Timeframe selection for ATR calculations (e.g., 15m, 1h, Daily).
How to Use It for Trading
Measure Volatility: Quickly gauge the expected price movement based on ATR for any timeframe.
Identify Overextension: Use the coverage % to see how much of the expected ATR range is already consumed.
Plan Entries & Exits: Align trade targets and stops with ATR levels for more objective planning.
Visual Reference: Horizontal guide lines and table update automatically as new bars form, keeping information clear and actionable.
Ideal For
Intraday traders using ATR levels to frame trades.
Swing traders wanting ATR-based reference points for larger timeframes.
Anyone seeking a volatility-based framework for planning stops, targets, or identifying overextended conditions.
AI's Opinion Trading System V21. Complete Summary of the Indicator Script
AI’s Opinion Trading System V2 is an advanced, multi-factor trading tool designed for the TradingView platform. It combines several technical indicators (moving averages, RSI, MACD, ADX, ATR, and volume analysis) to generate buy, sell, and hold signals. The script features a customizable AI “consensus” engine that weighs multiple indicator signals, applies user-defined filters, and outputs actionable trade instructions with clear stop loss and take profit levels. The indicator also tracks sentiment, volume delta, and allows for advanced features like pyramiding (adding to positions), custom stop loss/take profit prices, and flexible signal confirmation logic. All key data and signals are displayed in a dynamic, color-coded table on the chart for easy review.
2. Full Explanation of the Table
The table is a real-time dashboard summarizing the indicator’s logic and recommendations for the most recent bars. It is color-coded for clarity and designed to help traders quickly understand market conditions and AI-driven trade signals.
Columns (from left to right):
Column Name What it Shows
Bar The time context: “Now” for the current bar, then “Bar -1”, “Bar -2”, etc. for previous bars.
Raw Consensus The raw AI consensus for each bar: “Buy”, “Sell”, or “-” (neutral).
Up Vol The amount of volume on up (rising) bars.
Down Vol The amount of volume on down (falling) bars.
Delta The difference between up and down volume. Green if positive, red if negative, gray if neutral.
Close The closing price for each bar, color-coded by price change.
Sentiment Diff The difference between the close and average sentiment price (a custom sentiment calculation).
Lookback The number of bars used for sentiment calculation (if enabled).
ADX The ADX value (trend strength).
ATR The ATR value (volatility measure).
Vol>Avg “Yes” (green) if volume is above average, “No” (red) otherwise.
Confirm Whether the AI signal is confirmed over the required bars.
Logic Output The AI’s interpreted signal after applying user-selected logic: “Buy”, “Sell”, or “-”.
Final Action The final signal after all filters: “Buy”, “Sell”, or “-”.
Trade Instruction A plain-English instruction: Buy/Sell/Add/Hold/No Action, with price, stop loss, and take profit.
Color Coding:
Green: Positive/bullish values or signals
Red: Negative/bearish values or signals
Gray: Neutral or inactive
Blue background: For all table cells, for visual clarity
White text: Default, except for color-coded cells
3. Full User Instructions for Every Input/Style Option
Below are plain-language instructions for every user-adjustable option in the indicator’s input and style pages:
Inputs
Table Location
What it does: Sets where the summary table appears on your chart.
How to use: Choose from 9 positions (Top Left, Top Center, Top Right, etc.) to avoid overlapping with other chart elements.
Decimal Places
What it does: Controls how many decimal places prices and values are displayed with.
How to use: Increase for assets with very small prices (e.g., SHIB), decrease for stocks or forex.
Show Sentiment Lookback?
What it does: Shows or hides the “Lookback” column in the table, which displays how many bars are used in the sentiment calculation.
How to use: Turn off if you want a simpler table.
AI View Mode
What it does: Selects the logic for how the AI combines signals from different indicators.
Majority: Follows the most common signal among all indicators.
Weighted: Uses custom weights for each type of signal.
Custom: Lets you define your own logic (see below).
How to use: Pick the logic style that matches your trading philosophy.
AI Consensus Weight / Vol Delta Weight / Sentiment Weight
What they do: When using “Weighted” AI View Mode, these let you set how much influence each factor (indicator consensus, volume delta, sentiment) has on the final signal.
How to use: Increase a weight to make that factor more important in the AI’s decision.
Custom AI View Logic
What it does: Lets advanced users write their own logic for when the AI should signal a trade (e.g., “ai==1 and delta>0 and sentiment>0”).
How to use: Only use if you understand basic boolean logic.
Use Custom Stop Loss/Take Profit Prices?
What it does: If enabled, you can enter your own fixed stop loss and take profit prices for buys and sells.
How to use: Turn on to override the auto-calculated SL/TP and enter your desired prices below.
Custom Buy/Sell Stop Loss/Take Profit Price
What they do: If custom SL/TP is enabled, these fields let you set exact prices for stop loss and take profit on both buy and sell trades.
How to use: Enter your preferred price, or leave at 0 for auto-calculation.
Sentiment Lookback
What it does: Sets how many bars the sentiment calculation should look back.
How to use: Increase to smooth out sentiment, decrease for faster reaction.
Max Pyramid Adds
What it does: Limits how many times you can add to an existing position (pyramiding).
How to use: Set to 1 for no adds, higher for more aggressive scaling in trends.
Signal Preset
What it does: Quick-sets a group of signal parameters (see below) for “Robust”, “Standard”, “Freedom”, or “Custom”.
How to use: Pick a preset, or select “Custom” to adjust everything manually.
Min Bars for Signal Confirmation
What it does: Sets how many bars a signal must persist before it’s considered valid.
How to use: Increase for more robust, less frequent signals; decrease for faster, but possibly less reliable, signals.
ADX Length
What it does: Sets the period for the ADX (trend strength) calculation.
How to use: Longer = smoother, shorter = more sensitive.
ADX Trend Threshold
What it does: Sets the minimum ADX value to consider a trend “strong.”
How to use: Raise for stricter trend confirmation, lower for more trades.
ATR Length
What it does: Sets the period for the ATR (volatility) calculation.
How to use: Longer = smoother volatility, shorter = more reactive.
Volume Confirmation Lookback
What it does: Sets how many bars are used to calculate the average volume.
How to use: Longer = more stable volume baseline, shorter = more sensitive.
Volume Confirmation Multiplier
What it does: Sets how much current volume must exceed average volume to be considered “high.”
How to use: Increase for stricter volume filter.
RSI Flat Min / RSI Flat Max
What they do: Define the RSI range considered “flat” (i.e., not trending).
How to use: Widen to be stricter about requiring a trend, narrow for more trades.
Style Page
Most style settings (such as plot colors, label sizes, and shapes) are preset in the script for visual clarity.
You can adjust plot visibility and colors (for signals, stop loss, take profit) in the TradingView “Style” tab as with any indicator.
Buy Signal: Shows as a green triangle below the bar when a buy is triggered.
Sell Signal: Shows as a red triangle above the bar when a sell is triggered.
Stop Loss/Take Profit Lines: Red and green lines for SL/TP, visible when a trade is active.
SL/TP Labels: Small colored markers at the SL/TP levels for each trade.
How to use:
Toggle visibility or change colors in the Style tab if you wish to match your chart theme or preferences.
In Summary
This indicator is highly customizable—you can tune every aspect of the AI logic, risk management, signal filtering, and table display to suit your trading style.
The table gives you a real-time, comprehensive view of all relevant signals, filters, and trade instructions.
All inputs are designed to be intuitive—hover over them in TradingView for tooltips, or refer to the explanations above for details.
ADR Plots + OverlayADR Plots + Overlay
This tool calculates and displays Average Daily Range (ADR) levels on your chart, giving traders a quick visual reference for expected daily price movement. It plots guide levels above and below the daily open and shows how much of the day's typical range has already been covered—all in one interactive table and on-chart overlay.
What It Does
ADR Calculation:
Uses daily high-low differences over a user-defined period (default 14 days), smoothed via RMA, SMA, EMA, or WMA to calculate the average daily range.
Projected Levels:
Plots four reference levels relative to the current day's open price:
+100% ADR: Open + ADR
+50% ADR: Open + 50% of ADR
−50% ADR: Open − 50% of ADR
−100% ADR: Open − ADR
Coverage %:
Tracks intraday high and low prices to calculate what percentage of the ADR has already been covered for the current session:
Coverage % = (High − Low) ÷ ADR × 100
Interactive Table:
Shows the ADR value and today's ADR coverage percentage in a customizable table overlay. The table position, colors, border, transparency, and an optional empty top row can all be adjusted via settings.
Customization Options
Table Settings:
Position the table (top/bottom × left/right).
Change background color, text color, border color and thickness.
Toggle an empty top row for spacing.
Line Settings:
Choose color, line style (solid/dotted/dashed), and width.
Lines automatically reposition each day based on that day's open price and ADR calculation.
General Inputs:
ADR length (number of days).
Smoothing method (RMA, SMA, EMA, WMA).
How to Use It for Trading
Measure Daily Movement: Instantly know the expected daily price range based on historical volatility.
Identify Overextension: Use the coverage % to see if the market has already moved close to or beyond its typical daily range.
Plan Entries & Exits: Align trade targets and stops with ADR levels for more objective intraday planning.
Visual Reference: Horizontal guide lines and table update automatically as new data comes in, helping traders stay informed without manual calculations.
Ideal For
Intraday traders tracking daily volatility limits.
Swing traders wanting a quick reference for expected price movement per day.
Anyone seeking a volatility-based framework for planning targets, stops, or identifying extended market conditions.
HTF Current/Average RangeThe "HTF(Higher Timeframe) Current/Average Range" indicator calculates and displays the current and average price ranges across multiple timeframes, including daily, weekly, monthly, 4 hour, and user-defined custom timeframes.
Users can customize the lookback period, table size, timeframe, and font color; with the indicator efficiently updating on the final bar to optimize performance.
When the current range surpasses the average range for a given timeframe, the corresponding table cell is highlighted in green, indicating potential maximum price expansion and signaling the possibility of an impending retracement or consolidation.
For day trading strategies, the daily average range can serve as a guide, allowing traders to hold positions until the current daily range approaches or meets the average range, at which point exiting the trade may be considered.
For scalping strategies, the 15min and 5min average range can be utilized to determine optimal holding periods for fast trades.
Other strategies:
Intraday Trading - 1h and 4h Average Range
Swing Trading - Monthly Average Range
Short-term Trading - Weekly Average Range
Also using these statistics in accordance with Power 3 ICT concepts, will assist in holding trades to their statistical average range of the chosen HTF candle.
CODE
The core functionality lies in the data retrieval and table population sections.
The request.security function (e.g., = request.security(syminfo.tickerid, "D", , lookahead = barmerge.lookahead_off)) retrieves high and low prices from specified timeframes without lookahead bias, ensuring accurate historical data.
These values are used to compute current ranges and average ranges (ta.sma(high - low, avgLength)), which are then displayed in a dynamically generated table starting at (if barstate.islast) using table.new, with conditional green highlighting when the current range is greater than average range, providing a clear visual cue for volatility analysis.
BARTRADINGPREDV4Please note, that all of the indicators on the chart are working together. I am showing all of the indicators so that you might see the benefits of these indicators working as one. Do your own research. Trade smart. I code tools not advice. So please make decisions based on your trading style and knowledge. Use my scripts freely but please note they are protected by Mozilla.
Script Summary: BARTRADINGPREDV4
This Pine Script indicator is a comprehensive trading tool that overlays on your TradingView chart. It combines moving averages, regression channels, volume analysis, RSI filtering, and pattern recognition to assist in making trading decisions. It also provides a forward-looking projection to help anticipate future price movement.
Key Features & Logic
1. Moving Averages
HMA (High Moving Average): Simple moving average of the high price over a user-defined lookback period.
LMA (Low Moving Average): Simple moving average of the low price over the same period.
HLMA (High-Low Moving Average): The average of HMA and LMA, providing a midline reference.
2. RSI Filtering
Optionally enables a Relative Strength Index (RSI) filter to help avoid trades when the market is not trending strongly.
Only allows buy signals if RSI is above 50, and sell signals if RSI is below 50 (if enabled).
3. Signal Generation
BUY Signal: Triggered when HL2 (average of OHLC) crosses over LMA and (optionally) RSI > 50.
SELL Signal: Triggered when HL2 crosses under HMA and (optionally) RSI < 50.
XSB (Extra Strong Buy): HL2 crosses over HMA, is above HLMA, up volume is greater than down volume, and (optionally) RSI > 50.
XBS (Extra Strong Sell): HL2 crosses under LMA, is below HLMA, down volume is greater than up volume, and (optionally) RSI < 50.
Enable/Disable XSB/XBS: You can turn these signals on or off via script inputs.
4. Take Profit (TP) and Stop Loss (SL) Levels
TP and SL are dynamically calculated based on the difference between HMA and LMA, providing contextually relevant exit levels.
5. Regression Channel and Prediction
Linear Regression Line: Plots a regression line over the lookback period to show the underlying trend.
ATR Channel: Adds an upper and lower channel around the regression line using ATR (Average True Range) for a realistic prediction envelope.
Forward Projection: Projects the regression line forward by a user-defined number of bars, visually showing where the trend could extend if current momentum persists.
6. Pattern Recognition
Higher Highs/Lows and Lower Highs/Lows: Marks bars where new higher highs/lows or lower highs/lows are set, helping you spot trend continuation or reversal points.
7. Status Table
A table shows the current price’s relationship to HMA, HLMA, and LMA, color-coded for quick visual interpretation.
User Instructions
Inputs
Number of Lookback Bars: Sets the period for all moving averages and regression calculations.
Prediction Length: (Legacy; not used in current logic.)
TURN ON OR OFF XSB/XBS Signal: Toggle extra strong buy/sell signals.
Enable RSI Filter: Only allow signals when RSI is in the correct zone.
RSI Period: Sets the sensitivity of the RSI filter.
Table Position: Choose where the status table appears on your chart.
ATR Length & Multiplier: Control the width of the regression prediction channel.
Bars Forward (Projection): Number of bars to project the regression line into the future.
How to Use
Add the script to your TradingView chart.
Adjust inputs to suit your asset and timeframe.
Interpret signals:
BUY (B) and SELL (S): Appear as green/red labels below/above bars.
XSB (blue) and XBS (orange): Indicate extra strong buy/sell conditions.
HH/HL (green triangles): New higher highs/lows.
LH/LL (red triangles): New lower highs/lows.
Watch the regression channel: The yellow regression line shows the trend; the shaded band indicates expected volatility.
Check the projection: The dashed magenta line projects the regression trend forward, giving a visual target for price continuation.
Use the table: Quickly see if price is above or below each moving average.
Interpreting the Prediction Aspects
Regression Line & Channel
Regression Line (Yellow): Represents the best-fit line of price over the lookback period, showing overall trend direction.
ATR Channel: The upper and lower bands (yellow, semi-transparent) account for typical volatility, suggesting a range where price is likely to stay if the trend continues.
Forward Projection
Dashed Magenta Line: Projects the regression line forward by the specified number of bars, using the current slope. This is a trend continuation forecast—not a guarantee, but a statistically reasonable path if current conditions persist.
How to use: If price is respecting the regression trend and within the channel, the projection provides a visual target for where price might go in the near future.
TP/SL Levels
TP (Take Profit): Suggests a price target above the current HL2, based on recent volatility.
SL (Stop Loss): Suggests a protective stop below HL2.
Best Practices & Warnings
No indicator is perfect! Always combine signals with your own analysis and risk management.
Regression projection is not a crystal ball: It simply extends the current trend, which can and will change, especially after big news or at support/resistance.
Use on liquid, trending assets for best results.
Adjust lookback and ATR settings for your market and timeframe.
Summary Table Example
Price vs HMA vs HLMA vs LMA
43000 +100 +50 -20
Green: Price is above average (bullish).
Red: Price is below average (bearish).
Yellow: Price is very close to the average (neutral).
Final Notes
This script is designed to be a multi-tool for trend trading and prediction, combining classic and modern techniques. The forward projection helps visualize possible future price action, while signals and overlays keep you informed of trend shifts and trade opportunities.
% / ATR Buy, Target, Stop + Overlay & P/L% / ATR Buy, Target, Stop + Overlay & P/L
This tool combines volatility‑based and fixed‑percentage trade planning into a single, on‑chart overlay—with built‑in profit‑and‑loss estimates. Toggle between ATR or percentage modes, plot your Buy, Target and Stop levels, and see the dollar gain or loss for a specified position size—all in one interactive table and chart display.
NOTE: To activate plotted lines, price labels, P/L rows and table values, enter a Buy Price greater than zero.
What It Does
Mode Toggle: Choose between “ATR” (volatility‑based) or “%” (fixed‑percentage) calculations.
Buy Price Input: Manually enter your entry price.
ATR Mode:
Target = Buy + (ATR × Target Multiplier)
Stop = Buy − (ATR × Stop Multiplier)
Percentage Mode:
Target = Buy × (1 + Target % / 100)
Stop = Buy × (1 – Stop % / 100)
P/L Estimates: Specify a dollar amount to “invest” at your Buy price, and the script calculates:
Gain ($): Profit if Target is hit
Loss ($): Cost if Stop is hit
Visual Overlay: Draws horizontal lines for Buy, Target and Stop, with optional price labels on the chart scale.
Interactive Table: Displays Buy, Target, Stop, ATR/timeframe info (in ATR mode), percentages (in % mode), and P/L rows.
Customization Options
Line Settings:
Choose color, style (solid/dashed/dotted), and width for Buy, Target, Stop lines.
Extend lines rightward only or in both directions.
Table Settings:
Position the table (top/bottom × left/right).
Toggle individual rows: Buy Price; Target (multiplier or %); Stop (multiplier or %); Target ATR %; Stop ATR %; ATR Time Frame; ATR Value; Gain ($); Loss ($).
Customize text colors for each row and background transparency.
General Inputs:
ATR length and optional ATR timeframe override (e.g. use daily ATR on an intraday chart).
Target/Stop multipliers or percentages.
Dollar Amount for P/L calculations.
How to Use It for Trading
Plan Your Entry: Enter your intended Buy Price and position size (dollar amount).
Select Mode: Toggle between ATR or % mode depending on whether you prefer volatility‑based or fixed offsets.
Assess R:R and P/L: Instantly see your Target, Stop levels, and potential profit or loss in dollars.
Visual Reference: Lines and price labels update in real time as you tweak inputs—ideal for live trading, backtesting or trade journaling.
Ideal For
Traders who want both volatility‑based and percentage‑based exit options in one tool
Those who need on‑chart P/L estimates based on position size
Swing and intraday traders focused on objective, rule‑based trade management
Anyone who uses ATR for adaptive stops/targets or fixed percentages for simpler exits
Orthogonal Projections to Latent Structures (O-PLS)Version 0.1
Orthogonal Projections to Latent Structures (O-PLS) Indicator for TradingView
This indicator, named "Orthogonal Projections to Latent Structures (O-PLS)", is designed to help traders understand the relevance or predictive power of various market variables on the future close price of the asset it's applied to. Unlike standard correlation coefficients that show a simple linear relationship, O-PLS aims to separate variables into "predictive" (relevant to Y) and "orthogonal" (irrelevant noise) components. This Pine Script indicator provides a simplified proxy of the relevance score derived from O-PLS principles.
Purpose of the Indicator
The primary purpose of this indicator is to identify which technical factors (such as price, volume, and other indicators) have the strongest relationship with the future price movement of the current trading instrument. By providing a "relevance score" for each input variable, it helps traders focus on the most influential data points, potentially leading to more informed trading decisions.
Inputs
The indicator offers the following user-definable inputs:
* **Lookback Period:** This integer input (default: 100, min: 10, max: 500) determines the number of past bars used to calculate the relevance scores for each variable. A longer lookback period considers more historical data, which can lead to smoother, less reactive scores but might miss recent shifts in variable importance.
* **External Asset Symbol:** This symbol input (default: `BINANCE:BTCUSDT`) allows you to specify an external asset (e.g., `BINANCE:ETHUSDT`, `NASDAQ:TSLA`) whose close price will be included in the analysis as an additional variable. This is useful for cross-market analysis to see how other assets influence the current chart.
* **Plot Visibility Checkboxes (e.g., "Plot: Open Price Relevance", "Plot: Volume Relevance", etc.):** These boolean checkboxes allow you to toggle the visibility of individual relevance score plots on the chart, helping to declutter the display and focus on specific variables.
Outputs
The indicator provides two main types of output:
Relevance Score Plots: These are lines plotted in a separate pane below the main price chart. Each line corresponds to a specific market variable (Open Price, Close Price, High Price, Low Price, Volume, various RSIs, SMAs, MFI, and the External Asset Close). The value of each line represents the calculated "relevance score" for that variable, typically scaled between 0 and 10. A higher score indicates a stronger predictive relationship with the future close price.
Sorted Relevance Table : A table displayed in the top-right corner of the chart provides a clear, sorted list of all analyzed variables and their corresponding relevance scores. The table is sorted in descending order of relevance, making it easy to identify the most influential factors at a glance. Each variable name in the table is colored according to its plot color, and the external asset's name is dynamically displayed without the "BINANCE:" prefix.
How to Use the Indicator
1. **Add to Chart:** Apply the "Orthogonal Projections to Latent Structures (O-PLS)" indicator to your desired trading chart (e.g., ETH/USDT).
2. **Adjust Inputs:**
* **Lookback Period:** Experiment with different lookback periods to see how the relevance scores change. A shorter period might highlight recent correlations, while a longer one might show more fundamental relationships.
* **External Asset Symbol:** If you trade BTC/USDT, you might add ETH/USDT or SPX as an external asset to see its influence.
3. **Analyze Relevance Scores:**
* **Plots:** Observe the individual relevance score plots over time. Are certain variables consistently high? Do scores change before significant price moves?
* **Table:** Refer to the sorted table on the latest confirmed bar to quickly identify the top-ranked variables.
4. **Incorporate into Strategy:** Use the insights from the relevance scores to:
* Prioritize certain indicators or price actions in your trading strategy. For example, if "Volume" has a high relevance score, it suggests volume confirmation is critical for future price moves.
* Understand the influence of inter-market relationships (via the External Asset Close).
How the Indicator Works
The indicator works by performing the following steps on each bar:
1. **Data Fetching:** It gathers historical data for various price components (open, high, low, close), volume, and calculated technical indicators (SMA, RSI, MFI) for the specified `lookback` period. It also fetches the close price of an `External Asset Symbol` .
2. **Standardization (Z-scoring):** All collected raw data series are standardized by converting them into Z-scores. This involves subtracting the mean of each series and dividing by its standard deviation . Standardization is crucial because it brings all variables to a common scale, preventing variables with larger absolute values from disproportionately influencing the correlation calculations.
3. **Correlation Calculation (Proxy for O-PLS Relevance):** The indicator then calculates a simplified form of correlation between each standardized input variable and the standardized future close price (Y variable) . This correlation is a proxy for the relevance that O-PLS would identify. A high absolute correlation indicates a strong linear relationship.
4. **Relevance Scaling:** The calculated correlation values are then scaled to a range of 0 to 10 to provide an easily interpretable "relevance score" .
5. **Output Display:** The relevance scores are presented both as time-series plots (allowing observation of changes over time) and in a real-time sorted table (for quick identification of top factors on the current bar) .
How it Differs from Full O-PLS
This indicator provides a *simplified proxy* of O-PLS principles rather than a full, mathematically rigorous O-PLS model. Here's why and how it differs:
* **Dimensionality Reduction:** A full O-PLS model would involve complex matrix factorization techniques to decompose the independent variables (X) into components that are predictive of Y and components that are orthogonal (unrelated) to Y but still describe X's variance. Pine Script's array capabilities and computational limits make direct implementation of these matrix operations challenging.
* **Orthogonal Components:** A true O-PLS model explicitly identifies and removes orthogonal components (noise) from the X data that are unrelated to Y. This indicator, in its simplified form, primarily focuses on the direct correlation (relevance) between each X variable and Y after standardization, without explicitly modeling and separating these orthogonal variations.
* **Predictive Model:** A full O-PLS model is ultimately a predictive model that can be used for regression (predicting Y). This indicator, however, focuses solely on **identifying the relevance/correlation of inputs to Y**, rather than building a predictive model for Y itself. It's more of an analytical tool for feature importance than a direct prediction engine.
* **Computational Intensity:** Full O-PLS involves Singular Value Decomposition (SVD) or Partial Least Squares (PLS) algorithms, which are computationally intensive. The indicator uses simpler statistical measures (mean, standard deviation, and direct correlation calculation over a lookback window) that are feasible within Pine Script's execution limits.
In essence, this Pine Script indicator serves as a practical tool for gaining insights into variable relevance, inspired by the spirit of O-PLS, but adapted for the constraints and common use cases of a TradingView environment.
Trend Gauge [BullByte]Trend Gauge
Summary
A multi-factor trend detection indicator that aggregates EMA alignment, VWMA momentum scaling, volume spikes, ATR breakout strength, higher-timeframe confirmation, ADX-based regime filtering, and RSI pivot-divergence penalty into one normalized trend score. It also provides a confidence meter, a Δ Score momentum histogram, divergence highlights, and a compact, scalable dashboard for at-a-glance status.
________________________________________
## 1. Purpose of the Indicator
Why this was built
Traders often monitor several indicators in parallel - EMAs, volume signals, volatility breakouts, higher-timeframe trends, ADX readings, divergence alerts, etc., which can be cumbersome and sometimes contradictory. The “Trend Gauge” indicator was created to consolidate these complementary checks into a single, normalized score that reflects the prevailing market bias (bullish, bearish, or neutral) and its strength. By combining multiple inputs with an adaptive regime filter, scaling contributions by magnitude, and penalizing weakening signals (divergence), this tool aims to reduce noise, highlight genuine trend opportunities, and warn when momentum fades.
Key Design Goals
Signal Aggregation
Merged trend-following signals (EMA crossover, ATR breakout, higher-timeframe confirmation) and momentum signals (VWMA thrust, volume spikes) into a unified score that reflects directional bias more holistically.
Market Regime Awareness
Implemented an ADX-style filter to distinguish between trending and ranging markets, reducing the influence of trend signals during sideways phases to avoid false breakouts.
Magnitude-Based Scaling
Replaced binary contributions with scaled inputs: VWMA thrust and ATR breakout are weighted relative to recent averages, allowing for more nuanced score adjustments based on signal strength.
Momentum Divergence Penalty
Integrated pivot-based RSI divergence detection to slightly reduce the overall score when early signs of momentum weakening are detected, improving risk-awareness in entries.
Confidence Transparency
Added a live confidence metric that shows what percentage of enabled sub-indicators currently agree with the overall bias, making the scoring system more interpretable.
Momentum Acceleration Visualization
Plotted the change in score (Δ Score) as a histogram bar-to-bar, highlighting whether momentum is increasing, flattening, or reversing, aiding in more timely decision-making.
Compact Informational Dashboard
Presented a clean, scalable dashboard that displays each component’s status, the final score, confidence %, detected regime (Trending/Ranging), and a labeled strength gauge for quick visual assessment.
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## 2. Why a Trader Should Use It
Main benefits and use cases
1. Unified View: Rather than juggling multiple windows or panels, this indicator delivers a single score synthesizing diverse signals.
2. Regime Filtering: In ranging markets, trend signals often generate false entries. The ADX-based regime filter automatically down-weights trend-following components, helping you avoid chasing false breakouts.
3. Nuanced Momentum & Volatility: VWMA and ATR breakout contributions are normalized by recent averages, so strong moves register strongly while smaller fluctuations are de-emphasized.
4. Early Warning of Weakening: Pivot-based RSI divergence is detected and used to slightly reduce the score when price/momentum diverges, giving a cautionary signal before a full reversal.
5. Confidence Meter: See at a glance how many sub-indicators align with the aggregated bias (e.g., “80% confidence” means 4 out of 5 components agree ). This transparency avoids black-box decisions.
6. Trend Acceleration/Deceleration View: The Δ Score histogram visualizes whether the aggregated score is rising (accelerating trend) or falling (momentum fading), supplementing the main oscillator.
7. Compact Dashboard: A corner table lists each check’s status (“Bull”, “Bear”, “Flat” or “Disabled”), plus overall Score, Confidence %, Regime, Trend Strength label, and a gauge bar. Users can scale text size (Normal, Small, Tiny) without removing elements, so the full picture remains visible even in compact layouts.
8. Customizable & Transparent: All components can be enabled/disabled and parameterized (lengths, thresholds, weights). The full Pine code is open and well-commented, letting users inspect or adapt the logic.
9. Alert-ready: Built-in alert conditions fire when the score crosses weak thresholds to bullish/bearish or returns to neutral, enabling timely notifications.
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## 3. Component Rationale (“Why These Specific Indicators?”)
Each sub-component was chosen because it adds complementary information about trend or momentum:
1. EMA Cross
o Basic trend measure: compares a faster EMA vs. a slower EMA. Quickly reflects trend shifts but by itself can whipsaw in sideways markets.
2. VWMA Momentum
o Volume-weighted moving average change indicates momentum with volume context. By normalizing (dividing by a recent average absolute change), we capture the strength of momentum relative to recent history. This scaling prevents tiny moves from dominating and highlights genuinely strong momentum.
3. Volume Spikes
o Sudden jumps in volume combined with price movement often accompany stronger moves or reversals. A binary detection (+1 for bullish spike, -1 for bearish spike) flags high-conviction bars.
4. ATR Breakout
o Detects price breaking beyond recent highs/lows by a multiple of ATR. Measures breakout strength by how far beyond the threshold price moves relative to ATR, capped to avoid extreme outliers. This gives a volatility-contextual trend signal.
5. Higher-Timeframe EMA Alignment
o Confirms whether the shorter-term trend aligns with a higher timeframe trend. Uses request.security with lookahead_off to avoid future data. When multiple timeframes agree, confidence in direction increases.
6. ADX Regime Filter (Manual Calculation)
o Computes directional movement (+DM/–DM), smoothes via RMA, computes DI+ and DI–, then a DX and ADX-like value. If ADX ≥ threshold, market is “Trending” and trend components carry full weight; if ADX < threshold, “Ranging” mode applies a configurable weight multiplier (e.g., 0.5) to trend-based contributions, reducing false signals in sideways conditions. Volume spikes remain binary (optional behavior; can be adjusted if desired).
7. RSI Pivot-Divergence Penalty
o Uses ta.pivothigh / ta.pivotlow with a lookback to detect pivot highs/lows on price and corresponding RSI values. When price makes a higher high but RSI makes a lower high (bearish divergence), or price makes a lower low but RSI makes a higher low (bullish divergence), a divergence signal is set. Rather than flipping the trend outright, the indicator subtracts (or adds) a small penalty (configurable) from the aggregated score if it would weaken the current bias. This subtle adjustment warns of weakening momentum without overreacting to noise.
8. Confidence Meter
o Counts how many enabled components currently agree in direction with the aggregated score (i.e., component sign × score sign > 0). Displays this as a percentage. A high percentage indicates strong corroboration; a low percentage warns of mixed signals.
9. Δ Score Momentum View
o Plots the bar-to-bar change in the aggregated score (delta_score = score - score ) as a histogram. When positive, bars are drawn in green above zero; when negative, bars are drawn in red below zero. This reveals acceleration (rising Δ) or deceleration (falling Δ), supplementing the main oscillator.
10. Dashboard
• A table in the indicator pane’s top-right with 11 rows:
1. EMA Cross status
2. VWMA Momentum status
3. Volume Spike status
4. ATR Breakout status
5. Higher-Timeframe Trend status
6. Score (numeric)
7. Confidence %
8. Regime (“Trending” or “Ranging”)
9. Trend Strength label (e.g., “Weak Bullish Trend”, “Strong Bearish Trend”)
10. Gauge bar visually representing score magnitude
• All rows always present; size_opt (Normal, Small, Tiny) only changes text size via text_size, not which elements appear. This ensures full transparency.
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## 4. What Makes This Indicator Stand Out
• Regime-Weighted Multi-Factor Score: Trend and momentum signals are adaptively weighted by market regime (trending vs. ranging) , reducing false signals.
• Magnitude Scaling: VWMA and ATR breakout contributions are normalized by recent average momentum or ATR, giving finer gradation compared to simple ±1.
• Integrated Divergence Penalty: Divergence directly adjusts the aggregated score rather than appearing as a separate subplot; this influences alerts and trend labeling in real time.
• Confidence Meter: Shows the percentage of sub-signals in agreement, providing transparency and preventing blind trust in a single metric.
• Δ Score Histogram Momentum View: A histogram highlights acceleration or deceleration of the aggregated trend score, helping detect shifts early.
• Flexible Dashboard: Always-visible component statuses and summary metrics in one place; text size scaling keeps the full picture available in cramped layouts.
• Lookahead-Safe HTF Confirmation: Uses lookahead_off so no future data is accessed from higher timeframes, avoiding repaint bias.
• Repaint Transparency: Divergence detection uses pivot functions that inherently confirm only after lookback bars; description documents this lag so users understand how and when divergence labels appear.
• Open-Source & Educational: Full, well-commented Pine v6 code is provided; users can learn from its structure: manual ADX computation, conditional plotting with series = show ? value : na, efficient use of table.new in barstate.islast, and grouped inputs with tooltips.
• Compliance-Conscious: All plots have descriptive titles; inputs use clear names; no unnamed generic “Plot” entries; manual ADX uses RMA; all request.security calls use lookahead_off. Code comments mention repaint behavior and limitations.
________________________________________
## 5. Recommended Timeframes & Tuning
• Any Timeframe: The indicator works on small (e.g., 1m) to large (daily, weekly) timeframes. However:
o On very low timeframes (<1m or tick charts), noise may produce frequent whipsaws. Consider increasing smoothing lengths, disabling certain components (e.g., volume spike if volume data noisy), or using a larger pivot lookback for divergence.
o On higher timeframes (daily, weekly), consider longer lookbacks for ATR breakout or divergence, and set Higher-Timeframe trend appropriately (e.g., 4H HTF when on 5 Min chart).
• Defaults & Experimentation: Default input values are chosen to be balanced for many liquid markets. Users should test with replay or historical analysis on their symbol/timeframe and adjust:
o ADX threshold (e.g., 20–30) based on instrument volatility.
o VWMA and ATR scaling lengths to match average volatility cycles.
o Pivot lookback for divergence: shorter for faster markets, longer for slower ones.
• Combining with Other Analysis: Use in conjunction with price action, support/resistance, candlestick patterns, order flow, or other tools as desired. The aggregated score and alerts can guide attention but should not be the sole decision-factor.
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## 6. How Scoring and Logic Works (Step-by-Step)
1. Compute Sub-Scores
o EMA Cross: Evaluate fast EMA > slow EMA ? +1 : fast EMA < slow EMA ? -1 : 0.
o VWMA Momentum: Calculate vwma = ta.vwma(close, length), then vwma_mom = vwma - vwma . Normalize: divide by recent average absolute momentum (e.g., ta.sma(abs(vwma_mom), lookback)), clip to .
o Volume Spike: Compute vol_SMA = ta.sma(volume, len). If volume > vol_SMA * multiplier AND price moved up ≥ threshold%, assign +1; if moved down ≥ threshold%, assign -1; else 0.
o ATR Breakout: Determine recent high/low over lookback. If close > high + ATR*mult, compute distance = close - (high + ATR*mult), normalize by ATR, cap at a configured maximum. Assign positive contribution. Similarly for bearish breakout below low.
o Higher-Timeframe Trend: Use request.security(..., lookahead=barmerge.lookahead_off) to fetch HTF EMAs; assign +1 or -1 based on alignment.
2. ADX Regime Weighting
o Compute manual ADX: directional movements (+DM, –DM), smoothed via RMA, DI+ and DI–, then DX and ADX via RMA. If ADX ≥ threshold, market is considered “Trending”; otherwise “Ranging.”
o If trending, trend-based contributions (EMA, VWMA, ATR, HTF) use full weight = 1.0. If ranging, use weight = ranging_weight (e.g., 0.5) to down-weight them. Volume spike stays binary ±1 (optional to change if desired).
3. Aggregate Raw Score
o Sum weighted contributions of all enabled components. Count the number of enabled components; if zero, default count = 1 to avoid division by zero.
4. Divergence Penalty
o Detect pivot highs/lows on price and corresponding RSI values, using a lookback. When price and RSI diverge (bearish or bullish divergence), check if current raw score is in the opposing direction:
If bearish divergence (price higher high, RSI lower high) and raw score currently positive, subtract a penalty (e.g., 0.5).
If bullish divergence (price lower low, RSI higher low) and raw score currently negative, add a penalty.
o This reduces score magnitude to reflect weakening momentum, without flipping the trend outright.
5. Normalize and Smooth
o Normalized score = (raw_score / number_of_enabled_components) * 100. This yields a roughly range.
o Optional EMA smoothing of this normalized score to reduce noise.
6. Interpretation
o Sign: >0 = net bullish bias; <0 = net bearish bias; near zero = neutral.
o Magnitude Zones: Compare |score| to thresholds (Weak, Medium, Strong) to label trend strength (e.g., “Weak Bullish Trend”, “Medium Bearish Trend”, “Strong Bullish Trend”).
o Δ Score Histogram: The histogram bars from zero show change from previous bar’s score; positive bars indicate acceleration, negative bars indicate deceleration.
o Confidence: Percentage of sub-indicators aligned with the score’s sign.
o Regime: Indicates whether trend-based signals are fully weighted or down-weighted.
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## 7. Oscillator Plot & Visualization: How to Read It
Main Score Line & Area
The oscillator plots the aggregated score as a line, with colored fill: green above zero for bullish area, red below zero for bearish area. Horizontal reference lines at ±Weak, ±Medium, and ±Strong thresholds mark zones: crossing above +Weak suggests beginning of bullish bias, above +Medium for moderate strength, above +Strong for strong trend; similarly for bearish below negative thresholds.
Δ Score Histogram
If enabled, a histogram shows score - score . When positive, bars appear in green above zero, indicating accelerating bullish momentum; when negative, bars appear in red below zero, indicating decelerating or reversing momentum. The height of each bar reflects the magnitude of change in the aggregated score from the prior bar.
Divergence Highlight Fill
If enabled, when a pivot-based divergence is confirmed:
• Bullish Divergence : fill the area below zero down to –Weak threshold in green, signaling potential reversal from bearish to bullish.
• Bearish Divergence : fill the area above zero up to +Weak threshold in red, signaling potential reversal from bullish to bearish.
These fills appear with a lag equal to pivot lookback (the number of bars needed to confirm the pivot). They do not repaint after confirmation, but users must understand this lag.
Trend Direction Label
When score crosses above or below the Weak threshold, a small label appears near the score line reading “Bullish” or “Bearish.” If the score returns within ±Weak, the label “Neutral” appears. This helps quickly identify shifts at the moment they occur.
Dashboard Panel
In the indicator pane’s top-right, a table shows:
1. EMA Cross status: “Bull”, “Bear”, “Flat”, or “Disabled”
2. VWMA Momentum status: similarly
3. Volume Spike status: “Bull”, “Bear”, “No”, or “Disabled”
4. ATR Breakout status: “Bull”, “Bear”, “No”, or “Disabled”
5. Higher-Timeframe Trend status: “Bull”, “Bear”, “Flat”, or “Disabled”
6. Score: numeric value (rounded)
7. Confidence: e.g., “80%” (colored: green for high, amber for medium, red for low)
8. Regime: “Trending” or “Ranging” (colored accordingly)
9. Trend Strength: textual label based on magnitude (e.g., “Medium Bullish Trend”)
10. Gauge: a bar of blocks representing |score|/100
All rows remain visible at all times; changing Dashboard Size only scales text size (Normal, Small, Tiny).
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## 8. Example Usage (Illustrative Scenario)
Example: BTCUSD 5 Min
1. Setup: Add “Trend Gauge ” to your BTCUSD 5 Min chart. Defaults: EMAs (8/21), VWMA 14 with lookback 3, volume spike settings, ATR breakout 14/5, HTF = 5m (or adjust to 4H if preferred), ADX threshold 25, ranging weight 0.5, divergence RSI length 14 pivot lookback 5, penalty 0.5, smoothing length 3, thresholds Weak=20, Medium=50, Strong=80. Dashboard Size = Small.
2. Trend Onset: At some point, price breaks above recent high by ATR multiple, volume spikes upward, faster EMA crosses above slower EMA, HTF EMA also bullish, and ADX (manual) ≥ threshold → aggregated score rises above +20 (Weak threshold) into +Medium zone. Dashboard shows “Bull” for EMA, VWMA, Vol Spike, ATR, HTF; Score ~+60–+70; Confidence ~100%; Regime “Trending”; Trend Strength “Medium Bullish Trend”; Gauge ~6–7 blocks. Δ Score histogram bars are green and rising, indicating accelerating bullish momentum. Trader notes the alignment.
3. Divergence Warning: Later, price makes a slightly higher high but RSI fails to confirm (lower RSI high). Pivot lookback completes; the indicator highlights a bearish divergence fill above zero and subtracts a small penalty from the score, causing score to stall or retrace slightly. Dashboard still bullish but score dips toward +Weak. This warns the trader to tighten stops or take partial profits.
4. Trend Weakens: Score eventually crosses below +Weak back into neutral; a “Neutral” label appears, and a “Neutral Trend” alert fires if enabled. Trader exits or avoids new long entries. If score subsequently crosses below –Weak, a “Bearish” label and alert occur.
5. Customization: If the trader finds VWMA noise too frequent on this instrument, they may disable VWMA or increase lookback. If ATR breakouts are too rare, adjust ATR length or multiplier. If ADX threshold seems off, tune threshold. All these adjustments are explained in Inputs section.
6. Visualization: The screenshot shows the main score oscillator with colored areas, reference lines at ±20/50/80, Δ Score histogram bars below/above zero, divergence fill highlighting potential reversal, and the dashboard table in the top-right.
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## 9. Inputs Explanation
A concise yet clear summary of inputs helps users understand and adjust:
1. General Settings
• Theme (Dark/Light): Choose background-appropriate colors for the indicator pane.
• Dashboard Size (Normal/Small/Tiny): Scales text size only; all dashboard elements remain visible.
2. Indicator Settings
• Enable EMA Cross: Toggle on/off basic EMA alignment check.
o Fast EMA Length and Slow EMA Length: Periods for EMAs.
• Enable VWMA Momentum: Toggle VWMA momentum check.
o VWMA Length: Period for VWMA.
o VWMA Momentum Lookback: Bars to compare VWMA to measure momentum.
• Enable Volume Spike: Toggle volume spike detection.
o Volume SMA Length: Period to compute average volume.
o Volume Spike Multiplier: How many times above average volume qualifies as spike.
o Min Price Move (%): Minimum percent change in price during spike to qualify as bullish or bearish.
• Enable ATR Breakout: Toggle ATR breakout detection.
o ATR Length: Period for ATR.
o Breakout Lookback: Bars to look back for recent highs/lows.
o ATR Multiplier: Multiplier for breakout threshold.
• Enable Higher Timeframe Trend: Toggle HTF EMA alignment.
o Higher Timeframe: E.g., “5” for 5-minute when on 1-minute chart, or “60” for 5 Min when on 15m, etc. Uses lookahead_off.
• Enable ADX Regime Filter: Toggles regime-based weighting.
o ADX Length: Period for manual ADX calculation.
o ADX Threshold: Value above which market considered trending.
o Ranging Weight Multiplier: Weight applied to trend components when ADX < threshold (e.g., 0.5).
• Scale VWMA Momentum: Toggle normalization of VWMA momentum magnitude.
o VWMA Mom Scale Lookback: Period for average absolute VWMA momentum.
• Scale ATR Breakout Strength: Toggle normalization of breakout distance by ATR.
o ATR Scale Cap: Maximum multiple of ATR used for breakout strength.
• Enable Price-RSI Divergence: Toggle divergence detection.
o RSI Length for Divergence: Period for RSI.
o Pivot Lookback for Divergence: Bars on each side to identify pivot high/low.
o Divergence Penalty: Amount to subtract/add to score when divergence detected (e.g., 0.5).
3. Score Settings
• Smooth Score: Toggle EMA smoothing of normalized score.
• Score Smoothing Length: Period for smoothing EMA.
• Weak Threshold: Absolute score value under which trend is considered weak or neutral.
• Medium Threshold: Score above Weak but below Medium is moderate.
• Strong Threshold: Score above this indicates strong trend.
4. Visualization Settings
• Show Δ Score Histogram: Toggle display of the bar-to-bar change in score as a histogram. Default true.
• Show Divergence Fill: Toggle background fill highlighting confirmed divergences. Default true.
Each input has a tooltip in the code.
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## 10. Limitations, Repaint Notes, and Disclaimers
10.1. Repaint & Lag Considerations
• Pivot-Based Divergence Lag: The divergence detection uses ta.pivothigh / ta.pivotlow with a specified lookback. By design, a pivot is only confirmed after the lookback number of bars. As a result:
o Divergence labels or fills appear with a delay equal to the pivot lookback.
o Once the pivot is confirmed and the divergence is detected, the fill/label does not repaint thereafter, but you must understand and accept this lag.
o Users should not treat divergence highlights as predictive signals without additional confirmation, because they appear after the pivot has fully formed.
• Higher-Timeframe EMA Alignment: Uses request.security(..., lookahead=barmerge.lookahead_off), so no future data from the higher timeframe is used. This avoids lookahead bias and ensures signals are based only on completed higher-timeframe bars.
• No Future Data: All calculations are designed to avoid using future information. For example, manual ADX uses RMA on past data; security calls use lookahead_off.
10.2. Market & Noise Considerations
• In very choppy or low-liquidity markets, some components (e.g., volume spikes or VWMA momentum) may be noisy. Users can disable or adjust those components’ parameters.
• On extremely low timeframes, noise may dominate; consider smoothing lengths or disabling certain features.
• On very high timeframes, pivots and breakouts occur less frequently; adjust lookbacks accordingly to avoid sparse signals.
10.3. Not a Standalone Trading System
• This is an indicator, not a complete trading strategy. It provides signals and context but does not manage entries, exits, position sizing, or risk management.
• Users must combine it with their own analysis, money management, and confirmations (e.g., price patterns, support/resistance, fundamental context).
• No guarantees: past behavior does not guarantee future performance.
10.4. Disclaimers
• Educational Purposes Only: The script is provided as-is for educational and informational purposes. It does not constitute financial, investment, or trading advice.
• Use at Your Own Risk: Trading involves risk of loss. Users should thoroughly test and use proper risk management.
• No Guarantees: The author is not responsible for trading outcomes based on this indicator.
• License: Published under Mozilla Public License 2.0; code is open for viewing and modification under MPL terms.
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## 11. Alerts
• The indicator defines three alert conditions:
1. Bullish Trend: when the aggregated score crosses above the Weak threshold.
2. Bearish Trend: when the score crosses below the negative Weak threshold.
3. Neutral Trend: when the score returns within ±Weak after being outside.
Good luck
– BullByte
CDP - Counter-Directional-Pivot🎯 CDP - Counter-Directional-Pivot
📊 Overview
The Counter-Directional-Pivot (CDP) indicator calculates five critical price levels based on the previous day's OHLC data, specifically designed for multi-timeframe analysis. Unlike standard pivot points, CDP levels are calculated using a unique formula that identifies potential reversal zones where price action often changes direction.
⚡ What Makes This Script Original
This implementation solves several technical challenges that existing pivot indicators face:
🔄 Multi-Timeframe Consistency: Values remain identical across all timeframes (1m, 5m, 1h, daily) - a common problem with many pivot implementations
🔒 Intraday Stability: Uses advanced value-locking technology to prevent the "stepping" effect that occurs when pivot lines shift during the trading session
💪 Robust Data Handling: Optimized for both liquid and illiquid stocks with enhanced data synchronization
🧮 CDP Calculation Formula
The indicator calculates five key levels using the previous day's High (H), Low (L), and Close (C):
CDP = (H + L + C) ÷ 3 (Central Decision Point)
AH = 2×CDP + H – 2×L (Anchor High - Strong Resistance)
NH = 2×CDP – L (Near High - Moderate Resistance)
AL = 2×CDP – 2×H + L (Anchor Low - Strong Support)
NL = 2×CDP – H (Near Low - Moderate Support)
✨ Key Features
🎨 Visual Elements
📈 Five Distinct Price Levels: Each with customizable colors and line styles
🏷️ Smart Label System: Shows exact price values for each level
📋 Optional Value Table: Displays all levels in an organized table format
🎯 Clean Chart Display: Minimal visual clutter while maximizing information
⚙️ Technical Advantages
🔐 Session-Locked Values: Prices are locked at market open, preventing intraday shifts
🔄 Multi-Timeframe Sync: Perfect consistency between daily and intraday charts
✅ Data Validation: Built-in checks ensure reliable calculations
🚀 Performance Optimized: Efficient code structure for fast loading
💼 Trading Applications
🔄 Reversal Zones: AH and AL often act as strong turning points
💥 Breakout Confirmation: Price movement beyond these levels signals trend continuation
🛡️ Risk Management: Use levels for stop-loss and take-profit placement
🏗️ Market Structure: Understand daily ranges and potential price targets
📚 How to Use
🚀 Basic Setup
Add the indicator to your chart (works on any timeframe)
Customize colors for easy identification of support/resistance zones
Enable the value table for quick reference of exact price levels
📈 Trading Strategy Examples
🟢 Long Bias: Look for bounces at NL or AL levels
🔴 Short Bias: Watch for rejections at NH or AH levels
💥 Breakout Trading: Enter positions when price decisively breaks through anchor levels
↔️ Range Trading: Use CDP as the central reference point for range-bound markets
🎯 Advanced Strategy Combinations
RSI Integration for Enhanced Signals: 📊
📉 Oversold Bounces: Combine RSI below 30 with price touching AL/NL levels for high-probability long entries
📈 Overbought Rejections: Look for RSI above 70 with price rejecting AH/NH levels for short opportunities
🔍 Divergence Confirmation: When RSI shows bullish divergence at support levels (AL/NL) or bearish divergence at resistance levels (AH/NH), it often signals stronger reversal potential
⚡ Momentum Confluence: RSI crossing 50 while price breaks through CDP can confirm trend direction changes
⚙️ Configuration Options
🎨 Line Customization: Adjust width, style (solid/dashed/dotted), and colors
👁️ Display Preferences: Toggle individual levels, labels, and value table
📍 Table Position: Place the value table anywhere on your chart
🔔 Alert System: Get notifications when price crosses key levels
🔧 Technical Implementation Details
🎯 Data Reliability
The script uses request.security() with lookahead settings to ensure historical accuracy while maintaining real-time functionality. The value-locking mechanism prevents the common issue where pivot levels shift during the trading day.
🔄 Multi-Timeframe Logic
⏰ Intraday Charts: Display previous day's calculated levels as stable horizontal lines
📅 Daily Charts: Show current day's levels based on yesterday's OHLC
🔍 Consistency Check: All timeframes reference the same source data
🤔 Why CDP vs Standard Pivots?
Counter-Directional Pivots often provide more accurate reversal points than traditional pivot calculations because they incorporate the relationship between high/low ranges and closing prices more effectively. The formula creates levels that better reflect market psychology and institutional trading behaviors.
💡 Best Practices
💧 Use on liquid markets for most reliable results
📊 RSI Combination: Add RSI indicator for overbought/oversold confirmation and divergence analysis
📊 Combine with volume analysis for confirmation
🔍 Consider multiple timeframe analysis (daily levels on hourly charts)
📝 Test thoroughly in paper trading before live implementation
💪 Example Market Applications
NASDAQ:AAPL AAPL - Tech stock breakouts through AH levels
$NYSE:SPY SPY - Index trading with CDP range analysis
NASDAQ:TSLA TSLA - Volatile stock reversals at AL/NL levels
⚠️ This indicator is designed for educational and analytical purposes. Always combine with proper risk management and additional technical analysis tools.
Line Strategy v6Line Indicator for TradingView
This Pine Script indicator identifies the largest candles on both 5-minute and 1-hour timeframes within the last 240 five-minute bars. It provides visual markers and detailed information to help traders spot significant price movements.
Key Features
Dual Timeframe Analysis:
Identifies largest candle on 5-minute timeframe
Identifies largest candle on 1-hour timeframe (aggregated from 12 five-minute candles)
Visual Markers:
Blue label marks the highest-range 5-minute candle
Purple background highlights the highest-range hourly candle period
Information Table:
Shows price ranges for both timeframes
Displays precise timestamps for identified candles
Color-coded for quick reference
Progress Indicator:
Shows how many bars have been collected (out of 240 required)
How It Works
Data Collection:
Stores high, low, timestamp, and bar index of the last 240 five-minute candles
Automatically updates with each new bar
5-Minute Analysis:
Scans all 5-minute candles to find the one with the largest price range (high - low)
Marks this candle with a blue label showing its range
Hourly Analysis:
Groups 12 five-minute candles to form each hourly candle
Finds the hourly candle with the largest price range
Highlights the entire hour period with a purple background
Information Display:
Creates a table in the top-right corner showing:
Range values for both timeframes
Timestamps of identified candles
Time period of the largest hourly candle
Usage Instructions
Apply the indicator to any 5-minute chart
Wait for the indicator to collect 240 bars (about 20 trading hours)
Results will appear automatically:
Blue label on the largest 5-minute candle
Purple background on the largest hourly candle period
Information table with detailed metrics
Customization Options
You can easily adjust these aspects by modifying the code:
Colors of markers and table cells
Transparency levels of background highlights
Precision of range values displayed
Position of the information table
The indicator is optimized for performance and works in both historical and real-time modes.
Options Volatility Strategy Analyzer [TradeDots]The Options Volatility Strategy Analyzer is a specialized tool designed to help traders assess market conditions through a detailed examination of historical volatility, market benchmarks, and percentile-based thresholds. By integrating multiple volatility metrics (including VIX and VIX9D) with color-coded regime detection, the script provides users with clear, actionable insights for selecting appropriate options strategies.
📝 HOW IT WORKS
1. Historical Volatility & Percentile Calculations
Annualized Historical Volatility (HV): The script automatically computes the asset’s historical volatility using log returns over a user-defined period. It then annualizes these values based on the chart’s timeframe, helping you understand the asset’s typical volatility profile.
Dynamic Percentile Ranks: To gauge where the current volatility level stands relative to past behavior, historical volatility values are compared against short, medium, and long lookback periods. Tracking these percentile ranks allows you to quickly see if volatility is high or low compared to historical norms.
2. Multi-Market Benchmark Comparison
VIX and VIX9D Integration: The script tracks market volatility through the VIX and VIX9D indices, comparing them to the asset’s historical volatility. This reveals whether the asset’s volatility is outpacing, lagging, or remaining in sync with broader market volatility conditions.
Market Context Analysis: A built-in term-structure check can detect market stress or relative calm by measuring how VIX compares to shorter-dated volatility (VIX9D). This helps you decide if the present environment is risk-prone or relatively stable.
3. Volatility Regime Detection
Color-Coded Background: The analyzer assigns a volatility regime (e.g., “High Asset Vol,” “Low Asset Vol,” “Outpacing Market,” etc.) based on current historical volatility percentile levels and asset vs. market ratios. A color-coded background highlights the regime, enabling traders to quickly interpret the market’s mood.
Alerts on Regime Changes & Spikes: Automated alerts warn you about any significant expansions or contractions in volatility, allowing you to react swiftly in changing conditions.
4. Strategy Forecast Table
Real-Time Strategy Suggestions: At the close of each bar, an on-chart table generates suggested options strategies (e.g., selling premium in high volatility or buying premium in low volatility). These suggestions provide a quick summary of potential tactics suited to the current regime.
Contextual Market Data: The table also displays key statistics, such as VIX levels, asset historical volatility percentile, or ratio comparisons, helping you confirm whether volatility conditions warrant more conservative or more aggressive strategies.
🛠️ HOW TO USE
1. Select Your Timeframe: The script supports multiple timeframes. For short-term trading, intraday charts often reveal faster shifts in volatility. For swing or position trading, daily or weekly charts may be more stable and produce fewer false signals.
2. Check the Volatility Regime: Observe the background color and on-chart labels to identify the current regime (e.g., “HIGH ASSET VOL,” “LOW VOL + LAGGING,” etc.).
3. Review the Forecast Table: The table suggests strategy ideas (e.g., iron condors, long straddles, ratio spreads) depending on whether volatility is elevated, subdued, or spiking. Use these as a starting point for designing trades that match your risk tolerance.
4. Combine with Additional Analysis: For optimal results, confirm signals with your broader trading plan, technical tools (moving averages, price action), and fundamental research. This script is most effective when viewed as one component in a comprehensive decision-making process.
❗️LIMITATIONS
Directional Neutrality: This indicator analyzes volatility environments but does not predict price direction (up/down). Traders must combine with directional analysis for complete strategy selection.
Late or Missed Signals: Since all calculations require a bar to close, sharp intrabar volatility moves may not appear in real-time.
False Positives in Choppy Markets: Rapid changes in percentile ranks or VIX movements can generate conflicting or premature regime shifts.
Data Sensitivity: Accuracy depends on the availability and stability of volatility data. Significant gaps or unusual market conditions may skew results.
Market Correlation Assumptions: The system assumes assets generally correlate with S&P 500 volatility patterns. May be less effective for:
Small-cap stocks with unique volatility drivers
International stocks with different market dynamics
Sector-specific events disconnected from broad market
Cryptocurrency-related assets with independent volatility patterns
RISK DISCLAIMER
Options trading involves substantial risk and is not suitable for all investors. Options strategies can result in significant losses, including the total loss of premium paid. The complexity of options strategies requires thorough understanding of the risks involved.
This indicator provides volatility analysis for educational and informational purposes only and should not be considered as investment advice. Past volatility patterns do not guarantee future performance. Market conditions can change rapidly, and volatility regimes may shift without warning.
No trading system can guarantee profits, and all trading involves the risk of loss. The indicator's regime classifications and strategy suggestions should be used as part of a comprehensive trading plan that includes proper risk management, directional analysis, and consideration of broader market conditions.
