LinReg Heikin Ashi CandlesLinear Regression Heikin Ashi Candles will dramatically change how the candlesticks on your chart will appear. This script creates Heikin Ashi candles from the existing candlesticks and then applies wickless Linear Regression candles as an overlay. The result is an ultra smoothed 'Renko-like' chart that remains time-based and responsive.
Key Features:
Heikin Ashi Base: Provides a smoother representation of price trends by filtering out noise.
Linear Regression Candles on Heikin Ashi: Plots Linear Regression lines as candles on the Heikin Ashi chart, potentially highlighting the immediate trend direction and momentum within the smoothed data. Wicks are intentionally removed for a clearer focus on the linear progression.
Tillson T3 Moving Averages: Includes fast and slow T3 Moving Averages with customizable length and alpha. These smoothed moving averages can help identify trend direction and potential crossover signals. Users can toggle their visibility.
Volatility Bands: Integrates Volatility Bands based on Average True Range (ATR) with customizable length, ATR type (RMA, SMA, EMA, WMA), and inner/outer multipliers. These bands help gauge price volatility and potential reversal zones. Users can toggle the visibility of the basis line.
Customizable Colors: Allows users to customize the colors of the Linear Regression Heikin Ashi bullish and bearish candles.
How to Use:
This is an overlay on your chart so you'll need to 'hide' the existing candlesticks on your chart.
This indicator can be used on any timeframe from seconds to days to quickly identify market trend, gauge volatility, and potentially find entry/exit points. Consider looking for confluence between the candle color/direction, T3 MA crossovers, and price interaction with the Volatility Bands.
Note: This indicator plots Linear Regression directly on Heikin Ashi candles, removing wicks for a focus on the linear trend within the smoothed data. Adjust the input parameters to suit your trading style and the specific market conditions.
HUGE CREDIT to ugurvu who originally created the Linear Regression Candles indicator that my indicator pulls code from.
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P.I.B. System (Pin Bar | Inside Bar) // AlgoFyreThe "P.I.B. System (Pin Bar | Inside Bar)" identifies bullish and bearish pin bars and inside bars on a price chart. It highlights potential market reversals by plotting labels and colorizing bars, providing traders with visual cues for better decision-making.
Description
The "P.I.B. System (Pin Bar | Inside Bar)" script is designed to help traders identify potential reversal points in the market by detecting bullish and bearish pin bars and inside bars. A pin bar is a candlestick pattern that indicates a potential reversal, characterized by a small body and a long wick. Inside bars are candlestick patterns where the current bar's high and low are within the previous bar's range, indicating potential consolidation before a breakout.
This script allows customization of various parameters to fine-tune the identification of pin bars and inside bars. When a pin bar or an inside bar is detected, the script plots a label on the chart and colorizes the bars to highlight these patterns. This tool is useful for traders looking to identify potential reversal points and make informed trading decisions.
Explanation of All Options
Pin-Wick Size Ratio Minimum Value : The minimum ratio of the wick size to the total candle size for a pin bar to be considered valid. Default is 0.66.
Candle Body Size Ratio Maximum Value : The maximum ratio of the body size to the total candle size for a pin bar to be considered valid. Default is 0.4.
Handle-Wick Wick Size Ratio Maximum Value : The maximum ratio of the opposite wick size to the total candle size for a pin bar to be considered valid. Default is 0.4.
Filter Out Small Candles : Option to filter out small candles based on the previous candle's size. Default is true.
Small Candle Size Ratio : The ratio used to determine if a candle is considered small compared to the previous candle. Default is 2.0.
Identify Inside Bars : Option to identify inside bars following a pin bar. Default is true.
Show Only P.I.B. : Option to show only the bars where a pin bar is followed by an inside bar. Default is true.
Hide Horizontal Rays : Option to hide horizontal rays drawn from the last identified pin bars. Default is false.
How to Use
To use this script, add it to your chart. Customize the input parameters to match your trading strategy. The script will automatically identify and highlight bullish and bearish pin bars and inside bars on the chart. Use the visual cues provided by the labels and colorized bars to make informed trading decisions.
Trend-based Price Action StrategyThis is a strategy script that combines trend-based price action analysis with the Relative Strength Index (RSI) and Exponential Moving Averages (EMA) as trend filters. Here's a summary of the key components and logic:
Price Action Candlestick Patterns:
Bullish patterns: Engulfing candle and Morning Star.
Bearish patterns: Engulfing candle and Evening Star.
RSI Integration:
RSI is used to identify overbought and oversold conditions.
EMA Trend Filter:
Three EMAs with different periods: Fast , Medium and Slow.
Long trend condition occur when the fast EMA is above the medium and the medium is above the slow EMA.
Short trend condition occur when the slow EMA is above the medium and the medium is above the fast EMA.
Long entry conditions: RSI is oversold, RSI is decreasing, bullish candlestick pattern, and EMA trend filter conditions are met.
Short entry conditions: RSI is overbought, RSI is decreasing, bearish candlestick pattern, and EMA trend filter conditions are met.
Exit conditions:
Take profit or stop loss is reached.
Plotting:
Signals are plotted on the chart when entry conditions are met.
EMAs are plotted when the EMA trend filter is enabled.
This script aims to capture potential trend reversal points based on a combination of candlestick patterns, RSI, and EMA trend analysis.
Traders can use this script as a starting point for further customization or as a reference for developing their own trading strategies. It's important to note that past performance is not indicative of future results, and thorough testing and validation are recommended before deploying any trading strategy.
Buy&Sell Bullish Engulfing - The Quant Science🇺🇸
GENERAL OVERVIEW
Buy&Sell Bullish Engulfing - The Quant Science It is a Buy&Sell strategy based on the 'Bullish Engulfing' candlestick pattern. The main goal of the strategy is to achieve a consistent and sustainable return over time, with a manageable level of risk.
Bullish Engulfing
The template was developed at the top of the Indicator provided by TradingView called 'Engulfing - Bullish'.
ENTRY AND EXIT CRITERIA
Entry: A single long order is opened when the candlestick pattern is formed, and the percentage size of the order (%) is fixed by the trader through the user interface.
Exit: The long trade is closed on a percentage equity take profit-stop loss.
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🇮🇹
PANORAMICA GENERALE
Buy&Sell Bullish Engulfing - The Quant Science è una strategia Buy&Sell basata sul candlestick pattern 'Bullish Engulfing'. L'obiettivo principale della strategia è ottenere un ritorno costante e sostenibile nel tempo, con un livello gestibile di rischio.
Bullish Engulfing
Il template è stato sviluppato al top dell' Indicatore fornito da Trading View chiamato 'Engulfing - Bullish'.
CRITERI DI ENTRATA E USCITA
Entrata: viene aperto un singolo ordine long quando si forma il candlestick pattern, la size percentuale dell'ordine (%) viene selezionato tramite l'interfaccia utente dal trader.
Uscita: la chiusura della posizione avviene unicamente tramite un take profit-stop loss percentuale calcolato sul capitale.
Inside Candle DivergenceStudy Material: Inside Candle Divergence Indicator (aiTrendview)
1. Introduction
The Inside Candle Divergence Indicator is a custom tool built on TradingView using Pine Script. It is designed to help traders identify potential reversal points or trend continuations using a mix of candlestick analysis, RSI (Relative Strength Index), VWAP (Volume Weighted Average Price), Pivot Points, and Volume analytics. The tool also provides a dashboard table on the chart, summarizing all key values in a single glance for traders and analysts.
This indicator is not just a signal generator but also an educational framework—explaining how different concepts in technical analysis combine to build a systematic approach for market entries and exits.
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2. Core Concepts Behind the Tool
A. Inside Candle Pattern
An Inside Candle forms when the current candle’s high is lower than or equal to the previous candle’s high, and the low is higher than or equal to the previous candle’s low.
• This means the entire price action of the current candle is "inside" the range of the previous candle.
• A bullish inside candle occurs when the close is higher than the open.
• A bearish inside candle occurs when the close is lower than the open.
This pattern shows market indecision but also sets up potential breakouts or trend reversals.
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B. RSI (Relative Strength Index)
The indicator calculates RSI using the formula from the ta.rsi() function in TradingView. RSI helps measure momentum in the market.
• A low RSI (below 25) signals an oversold zone → possible buy.
• A high RSI (above 75) signals an overbought zone → possible sell.
By combining RSI with the Inside Candle, the indicator ensures that signals are triggered only when momentum and price patterns confirm each other.
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C. Buy & Sell Signals
• Buy Signal: Triggered when RSI < Buy Level (default 25) and a bullish inside candle forms.
• Sell Signal: Triggered when RSI > Sell Level (default 75) and a bearish inside candle forms.
When triggered, the chart displays a BUY (green label below candle) or SELL (red label above candle) marker. The indicator also saves the entry price and signal bar for future reference inside the dashboard.
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D. VWAP (Volume Weighted Average Price)
VWAP is calculated using the typical price (H+L+C)/3 and weighting it by volume.
• VWAP shows the average trading price weighted by volume, widely used by institutions.
• The tool calculates the distance of price from VWAP in % terms.
• If price is far above VWAP, the market may be overheated (overbought). If far below, it may be undervalued (oversold).
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E. Volume Analysis
The tool splits volume into Buy Volume and Sell Volume:
• Buy Volume: If close > open.
• Sell Volume: If close ≤ open.
• Cumulative totals are maintained, and percentages are calculated to show what proportion of total market volume is bullish vs bearish.
• A progress bar style visual (using blocks █) shows the dominance of buyers or sellers.
This allows traders to quickly measure whether buyers or sellers are controlling the market trend.
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F. Daily Pivot Points
Pivot Points are calculated using the previous day’s high, low, and close:
• Pivot = (High + Low + Close) / 3
• R1, S1, R2, S2, R3, S3 levels are derived from this pivot.
• These levels act as support and resistance zones.
The script plots Pivot, R1, and S1 lines on the chart for easy reference.
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G. Trend Direction
The indicator checks where the price is compared to R1 and S1:
• If price > R1 → Bullish Trend
• If price < S1 → Bearish Trend
• Otherwise → Neutral Trend
The trend direction is displayed in the dashboard with arrows (↑, ↓, →).
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H. Price Change Calculation
The tool calculates:
• Price Change = Current Close – Previous Close
• Percentage Change = (Change / Previous Close) × 100
• Displays ▲ (green upward) or ▼ (red downward) with the exact percentage.
This gives traders a quick snapshot of intraday price movement.
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I. Dashboard Table
One of the most powerful features is the real-time dashboard table shown on the chart. It contains:
1. Symbol & Price Info (Current ticker, price, change %)
2. RSI Reading (with color coding: green for oversold, red for overbought)
3. VWAP and Distance from VWAP
4. Volume Analysis with Progress Bar (Buy vs Sell %)
5. Pivot Levels (Pivot, R1, S1)
6. Trend Direction (Bullish, Bearish, Neutral)
7. Signal Status (Last Buy/Sell signal with entry price)
This reduces the need for multiple indicators and gives traders a command-center view directly on the chart.
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J. Alerts
The tool generates alerts whenever a Buy or Sell condition is met. Traders can set up TradingView alerts to be notified instantly when:
• Buy Signal Alert → RSI oversold + Bullish inside candle
• Sell Signal Alert → RSI overbought + Bearish inside candle
This ensures no opportunity is missed even if you’re not actively monitoring the chart.
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K. Background Highlights
The chart background also changes faintly (light green or light red) when a Buy or Sell condition is triggered. This gives traders visual confirmation along with signals and alerts.
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3. Practical Use of This Tool
• Scalpers & Intraday Traders can use it for quick momentum-based entries.
• Swing Traders can use the RSI + Inside Candle + Pivot Points to find medium-term reversals.
• Analysts can use the dashboard for real-time summaries in reports.
• Volume Analysis helps understand institutional activity.
Remember: This is not a standalone holy grail. It must be used with proper risk management and confirmation from higher timeframes.
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4. Strict Disclaimer (aiTrendview)
⚠️ Disclaimer from aiTrendview:
This indicator is designed for educational and analytical purposes only. It is not financial advice or a guaranteed trading strategy. Markets are inherently risky and unpredictable; past performance of indicators does not ensure future results. Trading involves risk of financial loss, and traders must use proper risk management, stop-loss, and independent judgment.
aiTrendview strictly follows TradingView.com rules and compliance guidelines.
Any misuse of this tool, its code, or analytical features for unauthorized commercial purposes, false promises, or misleading activities is strictly discouraged. The creators of this script and aiTrendview will not be responsible for any losses, damages, or misuse arising from its application. Always trade responsibly and only with money you can afford to lose.
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Blue Ocean BOATS 24/5 US Market DataThis script utilizes Blue Ocean's ATS (Alternative Trading System) and U.S. exchange market data to create a continuous candlestick chart. The continuous data has the option to be used as an indicator or strategy source.
Requirements
The main chart symbol (which can be unrelated to the user-input Ticker Symbol) needs to be a 24/7 chart. An example symbol is CRYPTO:BTCUSD. CME_MINI:ES1! and FX:SPX500 work too, but are not truly 24/5 and will miss ~4 hours of the total trading week from the extended U.S. session.
The main chart's timeframe needs to be intraday. Because the script's output is currently inconsistent on daily or higher timeframes, it will disable itself.
The Ticker Symbol chosen should be a ticker that is traded on U.S. exchanges. This will provide both U.S. extended session data and a BOATS equivalent.
Usage & configuration
This script visualizes the 24-hour Monday-Friday chart of a U.S. exchange ticker. Going a step further, it can be used to compare the performance indices or cryptocurrencies to stock constituents of indices, cryptocurrency treasury stocks or holding ETFs.
The script's output, candlesticks, can be overlaid on the main chart or used as is. A "Price Source" plot is used for indicators or strategies.
Ticker Symbol: The U.S. ticker you'd like to view extended session and Blue Ocean ATS session data for.
Price Source: Price source that can be used for indicators or strategies.
Highlight Sessions: Highlight the different trading sessions.
Last Price Line: Show a horizontal line at the last traded price.
Ticker Symbol Check: Plots a label that will display only if the selected Ticker Symbol is not detected as a U.S. exchange traded ticker.
Earnings Label: Creates a label at the time of past earnings of the chosen Ticker Symbol. The time that the earnings are plotted is approximate. Because of this, the label is meant as an explanation for price action.
What this script does and how it works
It creates OHLC candlesticks by merging Blue Ocean's ATS market data and U.S. exchange data. From the OHLC data of both, a single output can be used for indicators or strategies.
References and further information
www.tradingview.com
The Blue Ocean ATS allows trading from 20:00 to 4:00 Eastern Time, Sunday through Thursday. This critical timeframe bridges the eight-hour overnight gap when major U.S. exchanges are closed.
blueocean-tech.io
Blue Ocean ATS, LLC is a US broker dealer which operates the alternative trading system BOATS. Our trading platform offers electronic access, price discovery, compliant regulatory reporting requirements, and standard clearing and settlement processes.
www.nyse.com
Hours mentioned are in Eastern Time.
Overnight trading remains far less active than extended hours trading. The hour with the highest overnight volume is 9:00PM, which averages 2.94 million shares per day and coincides with several Asian market opens. This volume is a fraction of the last hour of extended hours trading, which averages 43.22 million shares. The first hour of pre-core reported volume averages 113.30 million shares per day.
Overnight executions, in addition to the peak in the 9:00PM hour, also exhibits a smaller peak at 3:00AM, of 2.35 million shares. This coincides with several Asian bourses’ end of their regular trading day.
Example of using the script in the main chart window and the difference in how RSI may be calculated.
Note: ATS is not the name of the 20:00 to 4:00 ET session itself, and the term refers to a broader definition of trading systems that include dark pools, which can be different.
24/5 Monday-Friday really means NY time Sunday night to Friday afternoon.
Change of Character FanChange of Character Fan
Overview
The Change of Character Fan is designed to help traders detect shifts (changes of character) in market direction and sentiment before they become fully visible through traditional candlestick analysis. Instead of relying solely on the shape or close of candlesticks, this indicator offers a direct, real-time look at the internal price action occurring within a single bar. This visibility into intrabar dynamics can potentially allow traders to enter or exit trades earlier, minimize false signals, and reduce their dependence on multiple lower-timeframe charts.
How it Works:
The indicator plots a "fan" consisting of five distinct slope lines within the current bar. Each line represents the internal trend of price movement based on user-defined lower timeframe data intervals.
By default, these intervals are set to 3, 5, 8, 13, and 21 samples from 1-second timeframe data.
Each line only appears when it has collected the minimum required number of intrabar data points.
The fan lines use a progressive opacity scale (lighter to darker), visually highlighting the confidence level or probability of directional continuation within the current bar.
At the open of every new bar, the fan disappears completely and gradually reappears as new data is gathered, ensuring clarity and eliminating outdated signals.
Understanding the Mathematics: Linear Regression Model
This indicator is built around the concept of a linear regression model. Linear regression is a statistical technique used to model and analyze relationships between variables—in this case, time (independent variable) and price (dependent variable).
How Linear Regression Works:
Linear regression fits a straight line (called a "line of best fit") through a set of data points, minimizing the overall distance between each point and the line itself.
Mathematically, this is achieved by minimizing the squared differences (errors) between the observed values (actual prices) and the predicted values (prices on the line).
The linear model used here can be expressed in the form:
y = mx + b
where:
𝑦
y is the predicted price,
𝑥
x represents time (each data sample interval),
𝑚
m is the slope of the line, representing the direction and velocity of the trend,
𝑏
b is the intercept (the theoretical price when x=0).
Why a Linear Model is Beneficial in this Indicator:
Simplicity and Reliability: Linear regression is simple, robust, and widely accepted as a baseline predictive model. It requires minimal computational resources, providing instant updates in real-time trading conditions.
Immediate Directional Feedback: The slope derived from linear regression immediately communicates the directional tendency of recent price action. A positive slope indicates upward pressure, and a negative slope signals downward pressure.
Noise Reduction: Even when price fluctuations are noisy or erratic, linear regression summarizes overall direction clearly, making it easier to detect genuine directional shifts (change of character) rather than random price noise.
Intrabar Analysis: Traditional candlestick analysis relies on fully formed candles, potentially delaying signals. By using linear regression on very short-term (intrabar) data, traders can detect shifts in momentum more quickly, providing an earlier signal than conventional candle patterns alone.
Practical Application:
This indicator helps traders to visually identify:
Early Trend Reversals: Intrabar analysis reveals momentum shifts potentially signaling reversals before they become obvious on conventional candles.
Momentum Continuations: Confidence is gained when all lines in the fan are clearly pointing in the same direction, indicating strong intrabar conviction.
Reduced False Signals: Traditional candlestick signals (e.g., hammer candles) sometimes produce false signals due to intrabar noise. By looking directly into intrabar dynamics, traders gain better context on whether candle patterns reflect genuine directional change or merely noise.
Important Requirements and Recommendations:
Subscription Requirements:
A TradingView subscription that supports sub-minute data (e.g., 1-second or 5-second resolution) is strongly recommended.
If your subscription doesn't include this data granularity, you must use a 1-minute lower timeframe, significantly reducing responsiveness. In this scenario, it's best suited for a 15-minute or higher chart, adjusting intervals to shorter periods.
Live Data Essential:
Real-time market data subscription is essential for the accuracy and effectiveness of this indicator.
Using delayed data reduces responsiveness and weakens the indicator's primary advantage.
Recommended Settings for Different Chart Timeframes:
1-minute chart: Use 1-second lower timeframe intervals (default intervals: 3, 5, 8, 13, 21).
5-minute chart: Adjust to a 5- or 10-second lower timeframe, possibly reducing intervals to shorter periods (e.g., 3, 5, 8, 10, 12).
15-minute or higher charts: Adjust lower timeframe to 1-minute if granular data is unavailable, with reduced interval lengths to maintain responsiveness.
Conclusion:
The Change of Character Fan empowers traders with early insight into directional shifts within each candle, significantly enhancing reaction speed, signal accuracy, and reducing dependency on multiple charts. Built on robust linear regression mathematics, it combines clarity, responsiveness, and ease-of-use in a powerful intrabar analysis tool.
Trade smarter, see sooner, and react faster.
Three Bar Reversal Pattern [ActiveQuants]This indicator identifies bullish and bearish three-bar reversal patterns , offering traders a visual tool to spot potential trend reversals. By analyzing consecutive candlesticks, volume trends, and candlestick morphology, it highlights signals while filtering out false patterns. Ideal for traders using price action strategies, it simplifies pattern recognition and enhances decision-making with customizable parameters.
█ KEY FEATURES
Pattern Detection Logic :
Bullish Reversals : Detects two consecutive bearish candles followed by a bullish candle that closes above the open of the first bearish candle .
Bearish Reversals : Identifies two consecutive bullish candles followed by a bearish candle that closes below the open of the first bullish candle .
Volume Confirmation :
Filters signals using a Volume SMA (user-defined length) to ensure reversals occur with above-average volume, adding validity to the pattern.
Candlestick Filtering :
Shooting Star Filter : Discards bullish patterns if the third candle is a Shooting Star (body confined to the lower portion of the candle’s range, adjustable via Shooting Star Body Limit ).
Hammer Filter : Discards bearish patterns if the third candle is a Hammer (body confined to the upper portion of the candle’s range, adjustable via Hammer Body Limit ).
Customizable Display :
Toggle visibility of bullish/bearish patterns and customize their colors.
Adjust the Show Last parameter to limit plotted labels to recent bars.
Alerts Integration :
Separate Bullish/Bearish Alerts : Generate independent alerts for bullish and bearish patterns. Traders can selectively enable one or both alerts via TradingView’s alert system.
Real-time notifications ensure you never miss a potential reversal signal.
█ CONCLUSION
The Three Bar Reversal Pattern Indicator streamlines the identification of reversal setups by combining candlestick patterns, volume analysis, and customizable filters. Its focus on price action dynamics makes it invaluable for traders seeking to capitalize on trend exhaustion or market sentiment shifts.
█ IMPORTANT NOTES
⚠ Use with Confluence : Reversal signals should be validated with additional tools like support/resistance levels, trendlines, or momentum oscillators.
⚠ Adapt Parameters : Adjust Volume SMA Length , Show Last , and body limits ( Shooting Star Body Limit and Hammer Body Limit ) to suit your timeframe and asset volatility.
█ RISK DISCLAIMER
Trading involves significant risk, and you may lose capital. Past performance is not indicative of future results. This tool provides informational signals only and does not constitute financial advice. Use it at your own risk and consult a qualified financial professional before making trading decisions.
Incorporate this indicator into your strategy to refine reversal entries, manage risk, and align with market momentum.
📈 Happy trading! 🚀
Star Pattern IdentifierThe Star Pattern Identifier is a custom TradingView indicator designed to detect and mark Morning Star (MS) and Evening Star (ES) candlestick patterns, which are powerful reversal signals. This indicator offers a flexible and customizable approach by incorporating adjustable parameters for both the size and volume of the third candle in the pattern.
Key Features:
Morning Star (MS) : A bullish reversal pattern that occurs after a downtrend.
Evening Star (ES) : A bearish reversal pattern that occurs after an uptrend.
Adjustable Parameters:
Third Candle Size Multiplier : Define how large the body of the third candle should be relative to the second candle (default is 2x).
Third Candle Volume Multiplier : Control the minimum volume of the third candle in relation to the second candle (default is 0.5x).
The script ensures that the third candle’s volume is at least 50% of the second candle's volume and that its body is at least twice the size of the second candle, to filter out weaker signals.
The patterns are marked directly on the chart with "MS" (Morning Star) or "ES" (Evening Star) labels for easy identification.
Practical Use:
Use this indicator to spot potential trend reversals with more confidence by ensuring strong candlestick body and volume conditions.
Customize the parameters to suit your trading strategy and preferences.
How it Works:
The indicator looks for a bearish first candle , followed by a bullish or indecisive second candle , and a bullish third candle for the Morning Star pattern.
For the Evening Star, the indicator looks for a bullish first candle , followed by a bearish or indecisive second candle , and a bearish third candle .
The size and volume of the third candle are checked to ensure it meets the set parameters, confirming the strength of the reversal signal.
This tool is perfect for traders seeking to spot reversal signals in the market.
Volume Surge Webhook AlertThis TradingView indicator, named "Volume Surge Webhook Alert," is designed to find significant increases in trading volume and send out alerts with key information. It works by looking back at the volume over a certain number of past candlesticks, which you can set using the "Lookback Period" input. The indicator calculates the average volume during this period. Then, it sets a threshold for what counts as a "volume surge." This threshold is a percentage increase over the average volume, and you can adjust this percentage using the "Volume Surge Threshold (%)" input.
When the current candlestick's volume is higher than this threshold, the indicator considers it a volume surge. To help you see this visually, the indicator plots three lines on a separate chart: the average volume (in blue), the current volume (in red), and the threshold volume (in gray circles).
If a volume surge happens, the indicator creates a webhook alert. This alert sends a message in a structured format (like a digital envelope) that contains the following information: the symbol of the stock or cryptocurrency, the timeframe of the chart you're looking at, the current volume, the average volume, the threshold volume, and a simple message saying a volume surge was detected. This alert is sent only once when the candlestick closes with a volume surge.
Additionally, when a volume surge is detected, a small red exclamation mark "!" will appear above that candlestick on the main price chart.
Essentially, this indicator helps traders spot times when trading volume is unusually high, which can sometimes be a sign of important price movements. You can customize how sensitive the indicator is by changing the "Lookback Period" and the "Volume Surge Threshold (%)". The webhook alerts allow you to be notified automatically when these surges occur, so you don't have to constantly watch the charts.
Engulfing Pattern @Ray_SP500NISAEngulfing Patterns
Bullish and bearish hugging candlesticks are powerful reversal formations that generate signals of potential reversals. These patterns are popular candlestick patterns because they are easy to spot and trade.
When the second candlestick completely wraps around the previous candlestick, it is a signal for a market reversal. A positive line encircled by a negative line may indicate a decline, while a negative line encircled by a positive line may indicate an upturn.
The system is simple enough to display these signs in red for a negative line and in green for a positive line. We hope this helps you in your investment life.
Translated with DeepL.com (free version)
Williams %R OB/OS Candle Coloring### Description for TradingView Publication
**Title:** Williams %R OB/OS Candle Coloring
**Description:**
This Pine Script indicator enhances the visibility of market conditions by changing the color of the candlesticks based on the Williams %R values. It helps traders quickly identify overbought and oversold conditions without the need to display the Williams %R line or any additional bands.
**How It Works:**
- The script calculates the Williams %R value using a specified lookback period (default is 14 days).
- It then compares the Williams %R value against predefined overbought and oversold levels.
- **Overbought Condition:** When the Williams %R value is greater than the upper band level (-20 by default), the candlestick color changes to blue.
- **Oversold Condition:** When the Williams %R value is less than the lower band level (-80 by default), the candlestick color changes to yellow.
**How to Use:**
1. **Input Parameters:**
- **Length:** The lookback period for calculating Williams %R (default is 14).
- **Upper Band Level:** The threshold for overbought conditions (default is -20).
- **Lower Band Level:** The threshold for oversold conditions (default is -80).
2. **Candlestick Coloring:**
- Blue candles indicate potential overbought conditions.
- Yellow candles indicate potential oversold conditions.
This indicator is designed to provide a visual cue directly on the price chart, making it easier for traders to spot extreme market conditions at a glance.
**Concepts Underlying the Calculation:**
Williams %R, developed by Larry Williams, is a momentum indicator that measures overbought and oversold levels. It compares the current closing price to the highest high and lowest low over a specified period. By using color-coded candles, traders can quickly assess market conditions and make informed decisions without the need to interpret an additional indicator line.
This script is particularly useful for traders who prefer a clean chart but still want to leverage the insights provided by the Williams %R indicator.
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### ภาษาไทย:
**คำอธิบาย:**
สคริปต์ Pine Script ตัวนี้ช่วยเพิ่มการมองเห็นสภาวะตลาดโดยการเปลี่ยนสีของแท่งเทียนตามค่าของ Williams %R ช่วยให้เทรดเดอร์สามารถระบุสภาวะการซื้อเกินและขายเกินได้อย่างรวดเร็วโดยไม่ต้องแสดงเส้น Williams %R หรือเส้นระดับเพิ่มเติมใดๆ
**วิธีการทำงาน:**
- สคริปต์คำนวณค่าของ Williams %R โดยใช้ช่วงเวลาที่กำหนด (เริ่มต้นที่ 14 วัน)
- จากนั้นเปรียบเทียบค่าของ Williams %R กับระดับการซื้อเกินและขายเกินที่กำหนดไว้
- **สภาวะการซื้อเกิน:** เมื่อค่าของ Williams %R มากกว่าระดับ Upper Band (-20 เริ่มต้น) สีของแท่งเทียนจะเปลี่ยนเป็นสีน้ำเงิน
- **สภาวะการขายเกิน:** เมื่อค่าของ Williams %R น้อยกว่าระดับ Lower Band (-80 เริ่มต้น) สีของแท่งเทียนจะเปลี่ยนเป็นสีเหลือง
**วิธีการใช้งาน:**
1. **ค่าพารามิเตอร์:**
- **Length:** ช่วงเวลาที่ใช้คำนวณ Williams %R (เริ่มต้นที่ 14)
- **Upper Band Level:** ระดับการซื้อเกิน (เริ่มต้นที่ -20)
- **Lower Band Level:** ระดับการขายเกิน (เริ่มต้นที่ -80)
2. **การเปลี่ยนสีแท่งเทียน:**
- แท่งเทียนสีน้ำเงินระบุถึงสภาวะการซื้อเกิน
- แท่งเทียนสีเหลืองระบุถึงสภาวะการขายเกิน
อินดิเคเตอร์นี้ถูกออกแบบมาเพื่อให้สัญญาณภาพตรงบนกราฟราคาช่วยให้เทรดเดอร์สามารถมองเห็นสภาวะตลาดได้อย่างชัดเจนและทำการตัดสินใจได้ง่ายขึ้น
**แนวคิดที่อยู่เบื้องหลังการคำนวณ:**
Williams %R ที่พัฒนาโดย Larry Williams เป็นอินดิเคเตอร์โมเมนตัมที่วัดระดับการซื้อเกินและขายเกิน มันเปรียบเทียบราคาปิดปัจจุบันกับราคาสูงสุดและต่ำสุดในช่วงเวลาที่กำหนด โดยใช้แท่งเทียนที่มีการเปลี่ยนสี เทรดเดอร์สามารถประเมินสภาวะตลาดและทำการตัดสินใจได้อย่างรวดเร็วโดยไม่ต้องตีความเส้นอินดิเคเตอร์เพิ่มเติม
สคริปต์นี้มีประโยชน์โดยเฉพาะสำหรับเทรดเดอร์ที่ต้องการกราฟที่สะอาดแต่ยังต้องการใช้ข้อมูลเชิงลึกจากอินดิเคเตอร์ Williams %R
Marubozu PatternsMarubozu Candlestick Patterns Indicator
This TradingView script identifies two types of Marubozu candlestick patterns: the bearish Marubozu and the bullish Marubozu. Marubozu patterns are characterized by a lack of shadows and a long body, indicating strong market sentiment. The indicator displays labels and triggers alerts when these patterns are detected on the price chart.
Features:
Identifies bearish Marubozu and bullish Marubozu candlestick patterns.
Alerts triggered for both patterns.
Labels displayed to highlight pattern occurrences on the chart.
How it works:
The script calculates various properties of candlesticks, such as body length, shadows, and body type. It then identifies both bearish and bullish Marubozu patterns based on specific conditions. When a pattern is detected, a label is shown on the chart with a corresponding tooltip description. Additionally, a background color change emphasizes the presence of detected patterns. Alerts are triggered for both pattern types, helping traders to quickly spot potential trading opportunities.
Note:
This script is designed for use on the TradingView platform using Pine Script. It aids traders in recognizing Marubozu candlestick patterns, providing visual cues and alerts for potential bullish and bearish market sentiments.
Candles In Row (Expo)█ Overview
The Candles In Row (Expo) indicator is a powerful tool designed to track and visualize sequences of consecutive candlesticks in a price chart. Whether you're looking to gauge momentum or determine the prevailing trend, this indicator offers versatile functionality tailored to the needs of active traders. The Candles In Row indicator can be an integral part of a multi-timeframe trading strategy, allowing traders to understand market momentum, and set trading bias. By recognizing the patterns and likelihood of future price movements, traders can make more informed decisions and align their trades with the overall market direction.
█ How to use
The indicator enhances traders' understanding of the consecutive candle patterns, helping them to uncover trends and momentum. Consecutive candles in the same direction may indicate a strong trend. The Candles In Row indicator can be an essential tool for traders employing a multiple timeframes strategy.
Analyzing a Higher Timeframe:
Understanding Momentum: By analyzing consecutive green or red candles in a higher timeframe, traders can identify the prevailing momentum in the market. A series of green candles would suggest an upward trend, while a series of red candles would indicate a downward trend.
Predicting Next Candle: The indicator's predictive feature calculates the likelihood of the next candle being green or red based on historical patterns. This probability helps traders gauge the potential continuation of the trend.
Setting the Trading Bias: If the likelihood of the next candle being green is high, the trader may decide to focus on long (buy) opportunities. Conversely, if the likelihood of the next candle being red is high, the trader may look for short (sell) opportunities.
In this example, we are using the Heikin Ashi candles.
Moving to a Lower Timeframe:
Finding Entry Points: Once the trading bias is set based on the higher timeframe analysis, traders can switch to a lower timeframe to look for entry points in the direction of the bias. For example, if the higher timeframe suggests a high likelihood of a green candle, traders may look for buy opportunities in the lower timeframe.
Combining Timeframes for a Comprehensive Strategy:
Confirmation and Alignment: By analyzing the higher timeframe and confirming the direction in the lower timeframe, traders can ensure that they are trading in alignment with the broader trend.
Avoiding False Signals: By using a higher timeframe to set the trading bias and a lower timeframe to find entries, traders can avoid false signals and whipsaws that might be present in a single timeframe analysis.
█ Settings
Price Input Selection: Choose between regular open and close prices or Heikin Ashi candles as the basis for calculation.
Data Window Control: Decide between displaying the full data window or only the active data. You can also enable a counter that keeps track of the number of candles.
Alert Configuration: Set the desired number and color of consecutive candles that must occur in a row to trigger an alert.
Table Display Customization: Customize the location and size of the display table according to your preferences.
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Candle Color OverlayDescription:
The Candle Color Overlay (CCO) indicator is a powerful tool for visualizing price movements on a chart. It overlays the chart with customizable colors, highlighting bullish and bearish candles based on their open and close values. This indicator helps traders quickly identify the direction of price movements and assess market sentiment.
How it Works:
The Candle Color Overlay indicator performs the following steps:
1. Calculation of the OHLC (Open, High, Low, Close) values for each candle based on the selected timeframe.
2. Classification of each candle as bullish or bearish:
- A bullish candle is when the closing price is greater than or equal to the opening price.
- A bearish candle is when the closing price is lower than the opening price.
3. Overlaying colors on the chart:
- The indicator applies a bullish color to the background when candles are classified as bullish and a bearish color to the background when candles classified as bearish. This overlay provides a visual representation of price movements.
4. Optional display of price movement labels:
- If enabled, the indicator shows a text label at the bottom of the current candle, indicating the percentage increase or decrease in price during a bullish or bearish background period.
Usage:
To effectively use the Candle Color Overlay indicator, follow these steps:
1. Add the indicator to your chart from the list of available indicators.
2. Configure the indicator's inputs:
- Choose the desired color for bullish candles using the "Bullish Color" input.
- Select the preferred color for bearish candles using the "Bearish Color" input.
- Specify the timeframe for analysis using the "Time Frame" input (default is 1 hour).
- Optionally enable the "Show Background Price Movement" input to display the percentage increase or decrease in price during each background period.
3. Analyze the colored overlay:
- Bullish colors represent candles where the closing price is greater than or equal to the opening price, indicating bullish sentiment.
- Bearish colors represent candles where the closing price is lower than the opening price, indicating bearish sentiment.
4. If enabled, observe the price movement labels
5. Combine the insights from the colored overlay and the price movement labels with other technical analysis tools, such as trend lines, support and resistance levels, or candlestick patterns, to make well-informed trading decisions.
Candle Combo ScreenerThe Candle Combo Screener allows you to see candlestick combinations for up to 5 different tickers at the same time . If one of the candle combination is detected the corresponding cell will be highlighted to alert you.
Candle Combinations Detected
Bullish Kicker
Bullish & Bearish Oops Reversals
Open Equals High / Low
Inside Day
Select any 5 tickers. Colors and table settings are fully customizable to fit your style.
Bullish Kicker
The opening price of the current candle gaps up above the body of the prior day's candle AND the prior day's candle close was less than the open.
Oops Reversals
Bullish: Price opens below the prior day’s low and closes above.
Bearish: Price opens above the prior day's high and closes below.
Open Equals High / Low
The current candles opening price is equal to either the high or low of the day.
Inside Day
The current candles high and low are contained within the prior day's high and low.
Bull/Bear Candle % Oscillator█ OVERVIEW
This script determines the proportion of bullish and bearish candles in a given sample size. It will produce an oscillator that fluctuates between 100 and -100, where values > 0 indicate more bullish candles in the sample and values < 0 indicate more bearish candles in the sample. Data produced by this oscillator is normalized around the 50% value, meaning that an even 50/50 split between bullish and bearish candles makes this oscillator produce 0; this oscillator indirectly represents the percent proportion of bullish and bearish candles in the sample (see HOW TO USE/INTERPRETATION OF DATA ).
It has two overarching settings: 'classic' and 'range'.
█ CONCEPTS
This script will cover concepts related to candlestick analysis, volumetric analysis, and lower timeframes.
Candlestick Analysis - The idea behind this script is to solely look at the candlesticks themselves and derive information from them in a given sample. It separates candles into two categories, bullish (close > open) and bearish (close < open).
If the indicator's setting is set to 'classic', the size of candles do not matter and all are assigned a value of 1 or 0.
If the indicator's setting is set to 'range', specific candle ranges modify the proportion of bullish/bearish values. Bullish candle values include all bullish candles in the set from their lows to the close, plus the lower wicks of all bearish candles. Bearish candle values include all bearish candles in the set from their highs to the close, plus the upper wicks of all bullish candles.
Volumetric Analysis - One of this script's features allows the user to modify the bullish and bearish candle proportions by its 'weight' determined by its volume compared to the sample set's total volume. Volumetric analysis for the 'range' setting are more complex than 'classic' as described below.
Lower Timeframes - For volumetric analysis to be done on candle wicks, there needed to be a way to determine how much volume had occurred in the wick by itself to find the weight of upper and lower wicks. To accomplish this, I employed PineScrypt's request.security_lower_tf function to grab OHLC values of lower timeframe candles (as well as volume) to determine how much volume had occurred in the wicks of the chart resolution's candle. The default OHLC values used here are the lows for upper wicks and highs for lower wicks. These OHLC values are then compared to the chart resolution candle's close to determine if the volume of that lower timeframe candle should be shifted to the wick weight or stay in the current weight of that candle. The reason 'low' and 'high' are used here is to guarantee that 100% of the volume of a lower timeframe candle had occurred in the wick of the candle at the current resolution (see LIMITATIONS ).
Bullish candles will exclude volume of all lower timeframe candles whose lows were greater than that candle's close. Bearish candles will exclude volume of all lower timeframe candles whose highs were less than that candle's close. These wick volumes are then divided by the volume of the sample set, and wick sizes are then multiplied by this weight before being added to their specific bullish/bearish sums (lower wicks to bullish and upper wicks to bearish).
█ FEATURES
There are 13 inputs for the user to modify the behavior/visual representation of this script.
Sample Length - This determines how many candles are in the sample set to find the proportion of bullish and bearish candles.
Colors and Invert Colors - There are three colors set by the user: a bullish color, neutral color, and bearish color. The oscillator plots two lines, one at 0 and another that represents the proportion of bullish or bearish candles in the sample set (we'll call this the 'signal line'). If the oscillator is above 0, bullish color is used, bearish otherwise. This script generates a gradient to color a filled area between the 0 line and the signal line based on the historical values of the oscillator itself and the signal line. For bullish values, the closer the signal line is to the max (or restricted max described below) that the oscillator has experienced, the more colored toward bullish color the shaded area will be, using the neutral color as a starting point. The same is applied to the bearish values using the bearish color.
There is an additional input to invert the colors so that the bearish color is associated with bullish values and vise-versa.
Calculation Type - This determines the overarching behavior of the oscillator and has two settings:
Classic - The weight of candles are either 1 if they occurred and 0 if not.
Range - The weight of candles is determined by the size of specific sections as described in CONCEPTS - Candlestick Analysis .
Volume Weighted - This enables modifying the weights of candles as described in CONCEPTS - Volumetric Analysis and Lower Timeframes based on which Calculation Type is used.
Wick Slice Resolution - This is the lower timeframe resolution that will be used to slice the chart resolution's candle when determining the volumetric weight of wicks. Lower timeframe resolutions like '1 minute' will yield more precise results as they will give more data points to go off of (see LIMITATIONS ).
Upper/Lower Wick Source - These two inputs allow the user to select which OHLC values to compare against the chart resolution's candle close when determining which lower timeframe candles will have their volumes associated with the wicks of candles being analyzed at the chart's resolution.
Restrict Min/Max Data and Restriction - This will restrict the maximum and minimum values that will be used for the signal line when comparing its value to previous oscillator values and change how the color gradient is generated for the indicator. Restriction is the number of candles back that will determine these maximum and minimum values.
Display Min/Max Guide - This will plot two lines that are colored the corresponding bullish and bearish colors which follow what the maximum and minimum values are currently for the oscillator.
█ HOW TO USE/INTERPRETATION OF DATA
As mentioned in the OVERVIEW section, this oscillator provides an indirect representation of the percent proportion of bullish or bearish candles in a given sample. If the oscillator reads 80, this does not mean that 80% of all candles in the sample were bullish . To find the percentage of candles that were bullish or bearish, the user needs to perform the following:
50% + ((|oscillator value| / 100) * 50)%
If the oscillator value is negative, the value from above will represent the percentage of bearish candles in the sample. If it is positive, this value represents the percentage of bullish candles in the sample.
Example 1 (oscillator value = 80):
50% + ((|80| / 100) * 50)%
50% + ((0.80) * 50)%
50% + 40% = 90%
90% of the candles in the sample were bullish.
Example 2 (oscillator value = -43):
50% + ((|-43| / 100) * 50)%
50% + ((0.43) * 50)%
50% + 21.5% = 71.5%
71.5% of the candles in the sample were bearish.
An example use of this indicator would be to put in a 'buy' order when its value shows a significant proportion of the sampled candles were bearish, and put in a 'sell' order when a significant proportion of candles were bullish. Potential divergences of this oscillator may also be used to plan trades accordingly such as bearish divergence - price continues higher as the oscillator decreases in value and vise-versa.*
* Nothing in this script constitutes any form of financial advice. The user is solely responsible for their trading decisions and I will not be held liable for any losses or gains incurred with the use of this script. Please proceed with caution when using this script to assist with trading decisions.
█ LIMITATIONS
Range Volumetric Weights :
Because of the conditions that must be met in order for volume to be considered part of wicks, it is possible that the default settings and their intended reasoning will not produce reliable results. If all lower timeframe candles have highs or lows that are within the body of the candle at the chart's resolution, the volume for the wicks will effectively be 0, which is not an accurate representation of those wicks. This is one of the reasons why I included the ability to change the source values used for these conditions as certain OHLC values may produce more reliable/intended results under these conditions.
Wick Slice Resolution :
PineScript restricts the number of intrabar references to 100,000 total. This script uses 3 separate request.security_lower_tf calls and has a default resolution of 1 minute. This means that if the user were to set the oscillator to the Range setting, enable volume weighted, and had the Wick Slice Resolution set to 1 minute, this script will exceed this 100,000 reference restriction within 24 days of data and will not produce any results beyond the previous 23.14 days.
Below are example uses of all the different settings of this script, these are done on the 1D chart of COINBASE:BTCUSD :
Default Settings:
Classic - Volume Weighted:
Range - no Volume Weight:
Range - Volume Weighted (1 min slices):
Range - Volume Weighted (1 hour slices):
Display Min/Max Guide - No Restriction:
Display Min/Max Guide - Restriction:
Invert Colors:
Outside Bar FinderOutside bars occur when the range of a candlestick falls entirely outside of the previous candlestick's range. This indicates indecision and volatility expansion which often leads to changes in trend direction.
This indicator includes options such as:
- The number of consecutive outside bars required to trigger the indicator
- An arrow indicating whether the outside bar is bullish or bearish
- Signal lines to indicate the high and low of the outside bar
Try out this indicator with different options on different timeframes to see if outside bars increase the probability of identifying changes in trend. Breaks or closes outside the signal lines can be used to trigger trade signals.
Inside Bar FinderInside bars occur when the range of a candlestick falls entirely within the previous candlestick's range. This indicates volatility contraction which often leads to volatility expansion, i.e. large price movements.
This indicator includes options such as:
- The number of consecutive inside bars required to trigger the indicator
- Signal lines to indicate the high and low of the outermost or innermost bars
Try out this indicator with different options on different timeframes to see if inside bars increase the probability of identifying the direction of price movements. Breaks or closes outside the inside or outside signal lines can be used to trigger trade signals.
Abnormal Pin BarPin Bar is one of the most important candlestick patterns. Almost every time you see a pin bar, you can expect the price to turn in the opposite direction.
You should pay more attention to the abnormal ones among the pin bars. What I mean by abnormal pin bar is that the long leg is at least 3 times larger than the body.
With this indicator, you can set your own abnormal pin bar settings. The indicator will highlight abnormal pin bars according to the settings you specified.
The indicator uses the following three factors to indicate abnormal pin bar:
- Minimum body ratio in the pattern in percent
- Minimum ratio of the long shadow to the body
- Minimum ratio of the long shadow to the short shadow
Also, there is a volume strength check to confirm the pin bar. If the volume where the pin bar is formed is greater than the 20 volume average, it indicates that the pin bar is more important. Of course, confirming the pin bar with the volume is optional and you can disable it in settings if you wish.
You can use the highlights of this indicator as an entry signal if the pin bar appears at the trend key levels or in support or resistance zones.
Hammers & Stars StrategyOverview
This script trades basic hammer and shooting star candlestick patterns.
It's an extremely simple strategy with minimal filters, and according to my personal manual backtesting and automated trading results, performs best on the Daily chart on certain forex pairs.
It is intended to be traded on the forex markets but theoretically should work on all markets (especially if you optimize the settings).
The script also comes with complete AutoView automation for Oanda.
Make sure you've connected AutoView to TradingView and Oanda, then simply set an alert using the "alert() function calls only" condition and it will automatically execute trades based on whatever settings you've selected (only recommended for experienced traders - use at your own risk!)
If you're not sure how to set up AutoView, search "The Art of Trading AutoView Guide" on YouTube to find my detailed video guide.
Check out my website and YouTube channel for more information, scripts, resources and free Pine Script & trading lessons (link in my profile).
Best of luck with your trading!
- Matt / The Art of Trading
Settings Menu
Tooltips are included explaining what the various settings do, but here's a quick summary:
Strategy Settings
>= ATR Filter: Minimum size of entry candle compared to ATR
<= ATR Filter: Maximum size of entry candle compared to ATR
Stop Loss ATR: Stop loss multiplier (x ATR)
R:R: Risk:Reward profile
Fib Level: Used to calculate upper/lower third of candle. (For example, setting it to 0.5 will mean hammers must close >= 50% mark of the total candle size)
Start Date Filter: Date & time to begin trading from
End Date Filter: Date & time to stop trading
AutoView Oanda Settings
Use Oanda Demo: If turned on then oandapractice broker prefix will be used for AutoView alerts (demo account). If turned off then live account will be used
Use Limit Order: If turned on then AutoView will use limit orders. If turned off then market orders will be used (recommended to use limit order to mitigate spread issues)
Days To Leave Limit Order: This is your GTD setting (good til day)
Account Balance: Your account balance (used for calculating position size)
Account Currency: Your account balance currency (used for calculating position size)
Risk Per Trade %: Your risk per trade as a % of your account balance
NSDT Special High-Low CandlesThis is an interesting take on candlesticks. These special High-Low Candles do not show the Open and Close levels, so there are no wicks. However, you still see the the High and Low of the entire candle, giving you the full range.
Since this is an indicator, be sure to hide the chart candles to avoid overlap. Or choose offsetting colors to see the traditional candles under the indicator candles.
