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Gap Absorption StrategyLike the nature, markets don't like the void, and this is something we can take advantage of by trading gaps on some markets. This technique is well known, so I wanted to write a tiny script based on this strategy to get a bit more comfortable with it. IMPORTANT: Default parameters wont give you good trades on every markets, you need to modify these parameters to see which proportions correspond to the stock you're trading. This script triggers signals on predefined variation of a stock price after a gap, and allows its user to configure TP and SL prices corresponding to a specific percentage of this gap movement. Note: We can observe that opening gaps are often the most interesting. Options Trigger: the price variation you want to trigger on (in % of the price) Stop Loss : in % of the gap Take profit : in % of the gap A small table is displayed in the top right corner of the chart to give you TP/SL/Signal prices for each opportunity SL (red line) and TP (green line) are also displayed on the chart when a signal is triggered Information concerning the current opportunity is given at the bottom of the chart Note: This script is based on the Gap-Size-Indicator that I published a few weeks ago.
Estrategia Pine Script®
por noop-noop
4
LeoLibraryLibrary "LeoLibrary" 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(float, float) Truncates (cuts) excess decimal places   Parameters:      float : _number The number to truncate      float : _decimalPlaces (default=2) The number of decimal places to truncate to   Returns: The given _number truncated to the given _decimalPlaces toWhole(float) Converts pips into whole numbers   Parameters:      float : _number The pip number to convert into a whole number   Returns: The converted number toPips(float) Converts whole numbers back into pips   Parameters:      float : _number The whole number to convert into pips   Returns: The converted number av_getPositionSize(float, float, float, float) Calculates OANDA forex position size for AutoView based on the given parameters   Parameters:      float : _balance The account balance to use      float : _risk The risk percentage amount (as a whole number - eg. 1 = 1% risk)      float : _stopPoints The stop loss distance in POINTS (not pips)      float : _conversionRate The conversion rate of our account balance currency   Returns: The calculated position size (in units - only compatible with OANDA) getMA(int, string) Gets a Moving Average based on type   Parameters:      int : _length The MA period      string : _maType The type of MA   Returns: A moving average with the given parameters getEAP(float) Performs EAP stop loss size calculation (eg. ATR >= 20.0 and ATR < 30, returns 20)   Parameters:      float : _atr The given ATR to base the EAP SL calculation on   Returns: The EAP SL converted ATR size barsAboveMA(int, float) Counts how many candles are above the MA   Parameters:      int : _lookback The lookback period to look back over      float : _ma The moving average to check   Returns: The bar count of how many recent bars are above the MA barsBelowMA(int, float) Counts how many candles are below the MA   Parameters:      int : _lookback The lookback period to look back over      float : _ma The moving average to reference   Returns: The bar count of how many recent bars are below the EMA barsCrossedMA(int, float) Counts how many times the EMA was crossed recently   Parameters:      int : _lookback The lookback period to look back over      float : _ma The moving average to reference   Returns: The bar count of how many times price recently crossed the EMA getPullbackBarCount(int, int) Counts how many green & red bars have printed recently (ie. pullback count)   Parameters:      int : _lookback The lookback period to look back over      int : _direction The color of the bar to count (1 = Green, -1 = Red)   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(float, bool) Checks if the current bar is a hammer candle based on the given parameters   Parameters:      float : _fib (default=0.382) The fib to base candle body on      bool : _colorMatch (default=false) Does the candle need to be green? (true/false)   Returns: A boolean - true if the current bar matches the requirements of a hammer candle isStar(float, bool) Checks if the current bar is a shooting star candle based on the given parameters   Parameters:      float : _fib (default=0.382) The fib to base candle body on      bool : _colorMatch (default=false) Does the candle need to be red? (true/false)   Returns: A boolean - true if the current bar matches the requirements of a shooting star candle isDoji(float, bool) Checks if the current bar is a doji candle based on the given parameters   Parameters:      float : _wickSize (default=2) The maximum top wick size compared to the bottom (and vice versa)      bool : _bodySize (default=0.05) The maximum body size as a percentage compared to the entire candle size   Returns: A boolean - true if the current bar matches the requirements of a doji candle isBullishEC(float, float, bool) Checks if the current bar is a bullish engulfing candle   Parameters:      float : _allowance (default=0) How many POINTS to allow the open to be off by (useful for markets with micro gaps)      float : _rejectionWickSize (default=disabled) The maximum rejection wick size compared to the body as a percentage      bool : _engulfWick (default=false) Does the engulfing candle require the wick to be engulfed as well?   Returns: A boolean - true if the current bar matches the requirements of a bullish engulfing candle isBearishEC(float, float, bool) Checks if the current bar is a bearish engulfing candle   Parameters:      float : _allowance (default=0) How many POINTS to allow the open to be off by (useful for markets with micro gaps)      float : _rejectionWickSize (default=disabled) The maximum rejection wick size compared to the body as a percentage      bool : _engulfWick (default=false) Does the engulfing candle require the wick to be engulfed as well?   Returns: A boolean - true if the current bar matches the requirements of a bearish engulfing candle timeFilter(string, bool) Determines if the current price bar falls inside the specified session   Parameters:      string : _sess The session to check      bool : _useFilter (default=false) Whether or not to actually use this filter   Returns: A boolean - true if the current bar falls within the given time session dateFilter(int, int) Determines if this bar's time falls within date filter range   Parameters:      int : _startTime The UNIX date timestamp to begin searching from      int : _endTime the UNIX date timestamp to stop searching from   Returns: A boolean - true if the current bar falls within the given dates dayFilter(bool, bool, bool, bool, bool, bool, bool) Checks if the current bar's day is in the list of given days to analyze   Parameters:      bool : _monday Should the script analyze this day? (true/false)      bool : _tuesday Should the script analyze this day? (true/false)      bool : _wednesday Should the script analyze this day? (true/false)      bool : _thursday Should the script analyze this day? (true/false)      bool : _friday Should the script analyze this day? (true/false)      bool : _saturday Should the script analyze this day? (true/false)      bool : _sunday Should the script analyze this day? (true/false)   Returns: A boolean - true if the current bar's day is one of the given days atrFilter(float, float) Checks the current bar's size against the given ATR and max size   Parameters:      float : _atr (default=ATR 14 period) The given ATR to check      float : _maxSize The maximum ATR multiplier of the current candle   Returns: A boolean - true if the current bar's size is less than or equal to _atr x _maxSize fillCell(table, int, int, string, string, color, color) This updates the given table's cell with the given values   Parameters:      table : _table The table ID to update      int : _column The column to update      int : _row The row to update      string : _title The title of this cell      string : _value The value of this cell      color : _bgcolor The background color of this cell      color : _txtcolor The text color of this cell   Returns: A boolean - true if the current bar falls within the given dates
Biblioteca Pine Script®
por MJK7
ZenLibraryLibrary "ZenLibrary" 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(float, float) Truncates (cuts) excess decimal places   Parameters:      float : _number The number to truncate      float : _decimalPlaces (default=2) The number of decimal places to truncate to   Returns: The given _number truncated to the given _decimalPlaces toWhole(float) Converts pips into whole numbers   Parameters:      float : _number The pip number to convert into a whole number   Returns: The converted number toPips(float) Converts whole numbers back into pips   Parameters:      float : _number The whole number to convert into pips   Returns: The converted number av_getPositionSize(float, float, float, float) Calculates OANDA forex position size for AutoView based on the given parameters   Parameters:      float : _balance The account balance to use      float : _risk The risk percentage amount (as a whole number - eg. 1 = 1% risk)      float : _stopPoints The stop loss distance in POINTS (not pips)      float : _conversionRate The conversion rate of our account balance currency   Returns: The calculated position size (in units - only compatible with OANDA) getMA(int, string) Gets a Moving Average based on type   Parameters:      int : _length The MA period      string : _maType The type of MA   Returns: A moving average with the given parameters getEAP(float) Performs EAP stop loss size calculation (eg. ATR >= 20.0 and ATR < 30, returns 20)   Parameters:      float : _atr The given ATR to base the EAP SL calculation on   Returns: The EAP SL converted ATR size barsAboveMA(int, float) Counts how many candles are above the MA   Parameters:      int : _lookback The lookback period to look back over      float : _ma The moving average to check   Returns: The bar count of how many recent bars are above the MA barsBelowMA(int, float) Counts how many candles are below the MA   Parameters:      int : _lookback The lookback period to look back over      float : _ma The moving average to reference   Returns: The bar count of how many recent bars are below the EMA barsCrossedMA(int, float) Counts how many times the EMA was crossed recently   Parameters:      int : _lookback The lookback period to look back over      float : _ma The moving average to reference   Returns: The bar count of how many times price recently crossed the EMA getPullbackBarCount(int, int) Counts how many green & red bars have printed recently (ie. pullback count)   Parameters:      int : _lookback The lookback period to look back over      int : _direction The color of the bar to count (1 = Green, -1 = Red)   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(float, bool) Checks if the current bar is a hammer candle based on the given parameters   Parameters:      float : _fib (default=0.382) The fib to base candle body on      bool : _colorMatch (default=false) Does the candle need to be green? (true/false)   Returns: A boolean - true if the current bar matches the requirements of a hammer candle isStar(float, bool) Checks if the current bar is a shooting star candle based on the given parameters   Parameters:      float : _fib (default=0.382) The fib to base candle body on      bool : _colorMatch (default=false) Does the candle need to be red? (true/false)   Returns: A boolean - true if the current bar matches the requirements of a shooting star candle isDoji(float, bool) Checks if the current bar is a doji candle based on the given parameters   Parameters:      float : _wickSize (default=2) The maximum top wick size compared to the bottom (and vice versa)      bool : _bodySize (default=0.05) The maximum body size as a percentage compared to the entire candle size   Returns: A boolean - true if the current bar matches the requirements of a doji candle isBullishEC(float, float, bool) Checks if the current bar is a bullish engulfing candle   Parameters:      float : _allowance (default=0) How many POINTS to allow the open to be off by (useful for markets with micro gaps)      float : _rejectionWickSize (default=disabled) The maximum rejection wick size compared to the body as a percentage      bool : _engulfWick (default=false) Does the engulfing candle require the wick to be engulfed as well?   Returns: A boolean - true if the current bar matches the requirements of a bullish engulfing candle isBearishEC(float, float, bool) Checks if the current bar is a bearish engulfing candle   Parameters:      float : _allowance (default=0) How many POINTS to allow the open to be off by (useful for markets with micro gaps)      float : _rejectionWickSize (default=disabled) The maximum rejection wick size compared to the body as a percentage      bool : _engulfWick (default=false) Does the engulfing candle require the wick to be engulfed as well?   Returns: A boolean - true if the current bar matches the requirements of a bearish engulfing candle timeFilter(string, bool) Determines if the current price bar falls inside the specified session   Parameters:      string : _sess The session to check      bool : _useFilter (default=false) Whether or not to actually use this filter   Returns: A boolean - true if the current bar falls within the given time session dateFilter(int, int) Determines if this bar's time falls within date filter range   Parameters:      int : _startTime The UNIX date timestamp to begin searching from      int : _endTime the UNIX date timestamp to stop searching from   Returns: A boolean - true if the current bar falls within the given dates dayFilter(bool, bool, bool, bool, bool, bool, bool) Checks if the current bar's day is in the list of given days to analyze   Parameters:      bool : _monday Should the script analyze this day? (true/false)      bool : _tuesday Should the script analyze this day? (true/false)      bool : _wednesday Should the script analyze this day? (true/false)      bool : _thursday Should the script analyze this day? (true/false)      bool : _friday Should the script analyze this day? (true/false)      bool : _saturday Should the script analyze this day? (true/false)      bool : _sunday Should the script analyze this day? (true/false)   Returns: A boolean - true if the current bar's day is one of the given days atrFilter(float, float) Checks the current bar's size against the given ATR and max size   Parameters:      float : _atr (default=ATR 14 period) The given ATR to check      float : _maxSize The maximum ATR multiplier of the current candle   Returns: A boolean - true if the current bar's size is less than or equal to _atr x _maxSize fillCell(table, int, int, string, string, color, color) This updates the given table's cell with the given values   Parameters:      table : _table The table ID to update      int : _column The column to update      int : _row The row to update      string : _title The title of this cell      string : _value The value of this cell      color : _bgcolor The background color of this cell      color : _txtcolor The text color of this cell   Returns: A boolean - true if the current bar falls within the given dates
Biblioteca Pine Script®
por ZenAndTheArtOfTrading
31
Volume X-ray [LucF]█  OVERVIEW This tool analyzes the relative size of ​volume reported on intraday vs ​EOD (end of day) data feeds on historical bars. If you use ​​volume data to make trading decisions, it can help you improve your understanding of its nature and quality, which is especially important if you trade on intraday timeframes. I often mention, when discussing ​volume analysis, how it's important for traders to understand the ​volume data they are using: where it originates, what it includes and does not include. By helping you spot sizeable differences between ​volume reported on intraday and ​EOD data feeds for any given instrument, "Volume X-ray" can point you to instruments where you might want to research the causes of the difference. █  CONCEPTS The information used to build a chart's historical bars originates from data providers (exchanges, brokers, etc.) who often maintain distinct historical feeds for intraday and ​EOD timeframes. How ​volume data is assembled for intraday and ​EOD feeds varies with instruments, brokers and exchanges. Variations between the two feeds — or their absence — can be due to how instruments are traded in a particular sector and/or the ​volume reporting policy for the feeds you are using. Instruments from crypto and forex markets, for example, will often display similar ​volume on both feeds. Stocks will often display variations because block trades or other types of trades may not be included in their intraday ​volume data. ​Futures will also typically display variations. It is even possible that ​volume from different feeds may not be of the same nature, as you can get trade ​volume (market ​volume) on one feed and tick ​volume (transaction counts) on another. You will sometimes be able to find the details of what different feeds contain from the technical information provided by exchanges/brokers on their feeds. This is an example for the NASDAQ feeds . Once you determine which feeds you are using, you can look for the reporting specs for that feed. This is all research you will need to do on your own; "Volume X-ray" will not help you with that part. You may elect to forego the deep dive in feed information and simply rely on the figure the indicator will calculate for the instruments you trade. One simple — and unproven — way to interpret "Volume X-ray" values is to infer that instruments with larger percentages of intraday/​EOD ​​volume ratios are more "democratic" because at intraday timeframes, you are seeing a greater proportion of the actual traded ​volume for the instrument. This could conceivably lead one to conclude that such ​​volume data is more reliable than on an instrument where intraday ​volume accounts for only 3% of ​EOD ​volume, let's say. Note that as intraday vs ​EOD variations exist for historical bars on some instruments, there will typically also be differences between the realtime feeds used on intraday vs 1D or greater timeframes for those same assets. Realtime reporting rules will often be different from historical feed reporting rules, so variations between realtime feeds will often be different from the variations between historical feeds for the same instrument. A deep dive in reporting rules will quickly reveal what a jungle they are for some instruments, yet it is the only way to really understand the ​volume information our charts display. █  HOW TO USE IT The script is very simple and has no inputs. Just add it to 1D charts and it will calculate the proportion of ​volume reported on the intraday feed over the ​​EOD ​volume. The plots show the daily values for both volumes: the teal area is the ​EOD ​volume, the orange line is the intraday ​volume. A value representing the average, cumulative intraday/​EOD ​volume percentage for the chart is displayed in the upper-right corner. Its background color changes with the percentage, with brightness levels proportional to the percentage for both the bull color (% >= 50) or the bear color (% < 50). When abnormal conditions are detected, such as missing ​volume of one kind or the other, a yellow background is used. Daily and cumulative values are displayed in indicator values and the Data Window. The indicator loads in a pane, but you can also use it in overlay mode by moving it on the chart with "Move to" in the script's "More" menu, and disabling the plot display from the "Settings/Style" tab. █  LIMITATIONS  • The script will not run on timeframes >1D because it cannot produce useful values on them.  • The calculation of the cumulative average will vary on different intraday timeframes because of the varying number of days covered by the dataset.   Variations can also occur because of irregularities in reported ​volume data. That is the reason I recommend using it on 1D charts.  • The script only calculates on historical bars because in real time there is no distinction between intraday and ​EOD feeds.  • You will see plenty of special cases if you use the indicator on a variety of instruments:    • Some instruments have no intraday ​volume, while on others it's the opposite.    • Missing information will sometimes appear here and there on datasets.    • Some instruments have higher intraday than ​​EOD ​volume.   Please do not ask me the reasons for these anomalies; it's your responsibility to find them. I supply a tool that will spot the anomalies for you — nothing more. █  FOR PINE CODERS  • This script uses a little-known feature of request.security() , which allows us to specify `"1440"` for the `timeframe` argument.   When you do, data from the 1min intrabars of the historical intraday feed is aggregated over one day, as opposed to the usual ​EOD feed used with `"D"`.  • I use gaps on my request.security() calls. This is useful because at intraday timeframes I can cumulate non- na values only.  • I use fixnan() on some values. For those who don't know about it yet, it eliminates na values from a series, just like not using gaps will do in a request.security() call.  • I like how the new switch structure makes for more readable code than equivalent if structures.  • I wrote my script using the revised recommendations in the Style Guide from the Pine v5 User Manual.  • I use the new runtime.error() to throw an error when the script user tries to use a timeframe >1D.   Why? Because then, my request.security() calls would be returning values from the last 1D intrabar of the dilation of the, let's say, 1W chart bar.   This of course would be of no use whatsoever — and misleading. I encourage all Pine coders fetching HTF data to protect their script users in the same way.   As tool builders, it is our responsibility to shield unsuspecting users of our scripts from contexts where our calcs produce invalid results.  • While we're on the subject of accessing intrabar timeframes, I will add this to the intention of coders falling victim to what appears to be   a new misconception where the mere fact of using intrabar timeframes with request.security() is believed to provide some sort of edge.   This is a fallacy unless you are sending down functions specifically designed to mine values from request.security() 's intrabar context.   These coders do not seem to realize that:    • They are only retrieving information from the last intrabar of the chart bar.    • The already flawed behavior of their scripts on historical bars will not improve on realtime bars. It will actually worsen because in real time,     intrabars are not yet ordered sequentially as they are on historical bars.    • Alerts or strategy orders using intrabar information acquired through request.security() will be using flawed logic and data most of the time.   The situation reminds me of the mania where using Heikin-Ashi charts to backtest was all the rage because it produced magnificent — and flawed — results.   Trading is difficult enough when doing the right things; I hate to see traders infected by lethal beliefs.   Strive to sharpen your "herd immunity", as Lionel Shriver calls it. She also writes: "Be leery of orthodoxy. Hold back from shared cultural enthusiasms."   Be your own trader. █  THANKS This indicator would not exist without the invaluable insights from Tim, a member of the Pine team. Thanks Tim!
Indicador Pine Script®
por LucF
14
Gap RiderThis Indicator allows you to make statistics on the performance of any underlying on the days in which an opening gap occurs. Specifically, the indicator was designed for "0 dte" options trades. In fact, it is possible to find parameters that give a good statistical advantage by opening a spread in the direction of the gap, creating a trade that has a risk-return ratio of 1: 1. The indicator shows flags on the graph (green in case of gap up, red in case of gap down) and colored boxes (green in case the stock closed in the direction of the gap, red in case the stock closed in the opposite direction to the gap, yellow in the event that the stock closed at a distance that did not allow the spread in options to close in maximum loss or maximum profit, and therefore in breakeven) The statistics panel, on the other hand, contains all the information necessary to search for parameters that give the trader a good statistical advantage. In the settings you can filter the days of the week, only gap up or only gap down, ATR thresholds (volatility), points or minimum percentage for which a gap is taken into account, measure of the breakeven (which for options traders should represent the half the width of the spread to open), large gaps filter that takes into consideration only gaps that open out of range compared to the previous session. The Lookback parameter of course is used to set how many bars to take into account for the statistics. Parameters and recommended strategy: TODAY 31/08/2021 - Lookback 500 bars (2 years) UNDERLYING: SPX FILTERS: only Monday and Wednesday, only gap up, only gap> 0.01% STRATEGY: exactly at opening, cover an ATM spread in the direction of the gap (example: gap up, I open a long call spread) that has the opening price as a break even, with a risk-return ratio of 1: 1 and leave it open until closing session, or set take profit at 90-95%. It is advisable to take into consideration the SPX statistics but to operate on the ES future so as to be able to open the spread a couple of minutes before the opening of the cash session and prevent the trade from "running away" due to too sudden movements of the opening. . RESULTS: 124 Trade 70% profitable trades 30% losing trades Max drawdown 3 trades So assuming a spread on ES 10 points wide, each trade would gain or lose $ 250, applying the described strategy we would have in two years, investing only $ 250, a profit of $ 12500, with a max drawdown of $ 750. We would therefore have a profit of 5000%, or rather 2500% per year on the invested capital, with a drawdown of a much lower proportion of the profit ($ 750 compared to $ 6250 of annual profit). The strategy is infinitely scalable by increasing the options contracts used and the impact of the commissions is almost zero. MONEY MANAGEMENT: Example on a 50K account, with a spread that earns or loses $ 500, in two years it earns $ 25,000, therefore about 12500 per year, with a max drawdown of $ 1500, therefore 25% per year on the ENTIRE ACCOUNT with a maximum drawdown of 3%. Note: the test was performed without a break even parameter, so the actual result will be more moderate, but of the same explosive nature. ** BUG STILL LOOKING FOR SOLUTION ** only in case the filters are set to take into account ONLY the gap down, the drawdown count in the statistics panel shows an incorrect result "
Indicador Pine Script®
por eruscio
Alert(), alertcondition() or strategy alerts?Variety of possibilities offered by PineScript, especially thanks to recent additions, created some confusion. Especially one question repeats quite often - which method to use to trigger alerts? I'm posting this to clarify and give some syntax examples. I'll discuss these 3 methods in chronological order, meaning - in the order they were introduced to PineScript. ALERTCONDITION() - it is a function call, which can be used only in study-type script. Since years ago, you could create 2 types of a script: strategy and study. First one enables creating a backtest of a strategy. Second was to develop scripts which didn't require backtesting and could trigger alerts. alertcondition() calls in strategy-type scripts were rejected by Pine compiler. On the other hand compiling study-type scripts rejected all strategy...() calls. That created difficulties, because once you had a nice and backtested strategy, you had to rip it off from all strategy...() function calls to convert your script to study-type so you could produce alerts. Maintenance of two versions of each script was necessary and it was painful. "STRATEGY ALERTS" were introduced because of alertcondition() pains. To create strategy alert, you need to click "Add alert" button inside Strategy Tester (backtester) and only there. Alerts set-up this way are bound with the backtester - whenever backtester triggers an order, which is visible on the chart, alert is also fired. And you can customize alert message using some placeholders like {{strategy.order.contracts}} or {{ticker}}. ALERT() was added last. This is an alerts-triggering function call, which can be run from strategy-type script. Finally it is doable! You can connect it to any event coded in PineScript and generate any alert message you want, thanks to concatenation of strings and wrapping variables into tostring() function. Out of these three alertcondition() is obviously archaic and probably will be discontinued. There is a chance this makes strategy/study distinction not making sense anymore, so I wouldn't be surprised if "studies" are deprecated at some point. But what are the differences between "Strategy alerts" and alert()? "Strategy alerts" seem easier to set-up with just a few clicks and probably easier to understand and verify, because they go in sync with the backtester and on-chart trade markers. It is especially important to understand how they work if you're building strategy based on pending orders (stop and limit) - events in your code might trigger placing pending order, but alert will be triggered only (and when) such order is executed. But "Strategy Alerts" have some limitations - not every variable you'd like to include in alert message is available from PineScript. And maybe you don't need the alert fired when the trade hit a stop-loss or take-profit, because you have already forwarded info about closing conditions in entry alert to your broker/exchange. Alert() was added to PineScript to fill all these gaps. Is allows concatenating any alert message you want, with any variable you want inside it and you can attach alert() function at any event in your PineScript code. For example - when placing orders, crossing variables, exiting trades, but not explicitly at pending orders execution. The Verdict "Strategy Alerts" might seem a better fit - easier to set-up and verify, flexible and they fire only when a trade really happens, not producing unnecessary mess when each pending order is placed. But these advantages are illusionary, because they don't give you the full-control which is needed when trading with real money. Especially when using pending orders. If an alert is fired when price actually hit a stop-order or limit-order level, and even if you are executing such alert within 1 second thanks to a tool like TradingConnector, you might already be late and you are making entry at a market price. Slippage will play a great role here. You need to send ordering alert when logical conditions are met - then it will be executed at the price you want. Even if you need to cancel all the pending orders which were not executed. Because of that I strongly recommend sticking to ALERT() when building your alerts system. Below is an example strategy, showing syntax to manage placing the orders and cancelling them. Yes, this is another spin-off from my TradingView Alerts to MT4 MT5 . As usual, please don't pay attention to backtest results, as this is educational script only. P.S. For the last time - farewell alertcondition(). You served us well.
Estrategia Pine Script®
por Peter_O
16
Repeated Median Regression ChannelThis script uses the Repeated Median (RM) estimator to construct a linear regression channel and thus offers an alternative to the available codes based on ordinary least squares. The RM estimator is a robust linear regression algorithm. It was proposed by Siegel in 1982 (1) and has since found many applications in science and engineering for linear trend estimation and data filtering. The key difference between RM and ordinary least squares methods is that the slope of the RM line is significantly less affected by data points that deviate strongly from the established trend. In statistics, these points are usually called outliers, while in the context of price data, they are associated with gaps, reversals, breaks from the trading range. Thus, robustness to outlier means that the nascent deviation from a predetermined trend will be more clearly seen in the RM regression compared to the least-squares estimate. For the same reason, the RM model is expected to better depict gaps and trend changes (2). Input Description Length : Determines the length of the regression line. Channel Multiplier : Determines the channel width in units of root-mean-square deviation. Show Channel : If switched off , only the (central) regression line is displayed. Show Historical Broken Channel : If switched on , the channels that were broken in the past are displayed. Note that a certain historical broken channel is shown only when at least Length / 2 bars have passed since the last historical broken channel. Print Slope : Displays the value of the current RM slope on the graph. Method Calculation of the RM regression line is done as follows (1,3): For each sample point ( t (i), y (i)) with i = 1.. Length , the algorithm calculates the median of all the slopes of the lines connecting this point to the other Length -1 points. The regression slope is defined as the median of the set of these median slopes. The regression intercept is defined as the median of the set { y (i) – m * t (i)}. Computational Time The present implementation utilizes a brute-force algorithm for computing the RM-slope that takes O ( Length ^2) time. Therefore, the calculation of the historical broken channels might take a relatively long time (depending on the Length parameter). However, when the Show Historical Broken Channel option is off, only the real-time RM channel is calculated, and this is done quite fast. References 1. A. F. Siegel (1982), Robust regression using repeated medians, Biometrika, 69 , 242–244. 2. P. L. Davies, R. Fried, and U. Gather (2004), Robust signal extraction for on-line monitoring data, Journal of Statistical Planning and Inference 122 , 65-78. 3. en.wikipedia.org
Indicador Pine Script®
por tbtkg
21
[BMAX] Averan BB(ENGLISH) Averan is an indicator based on ADR, which shows the volatility of the market based on high-low prices on the selected timeframe. The difference between Averan and ATR is that Averan does not consider GAPs, so it basically consider the actual size of the candles. This indicator also includes a standard deviation representation, the same as the top portion of the bollinger bands to present the variance of the volatility. (PORTUGUÊS) Averan é um indicador baseado no ADR, que apresenta a volatilidade do mercado baseado em máximas e mínimas do tempo gráfico escolhido. A diferença do Averan para o ATR é que o Averan não considera GAPs, portanto é basicamente calculado pelo real tamanho dos candles. Este indicador também inclui a representação do desvio padrão, representado da mesma maneira que a banda superior do Bollinger Bands, apresentando portanto a variância da volatilidade.
Indicador Pine Script®
por eduardogarufi
1
scaled.orders [highwater]FOR EDUCATIONAL PURPOSES There are multiple tools that allow you to place "scaled orders" on your exchange, namely Alertatron and Bybit Tools. This script is based on some Alertatron features, but you can use it for any grid like order placing strategy. Even if thats not your thing it's an example of how to use arrays in pinescript. FROM PRICE - is the price to start your orders. TO PRICE - is the price your orders will end. SCALED TYPES : LINEAR - will distribute orders evenly between from and to price. EASE IN - will cluster orders closer to from price, then start to widen the gaps as you move closer to to price. EASE OUT - will have wider gaps near from price, and start to cluster near to price. EASE IN OUT - will cluster orders near both from price and to price. COUNT - number of orders in each scaled order.
Indicador Pine Script®
por highwaterr
1
Volatility GuppyBased on my previous script "Turtle N Normalized," this script plots the CM SuperGuppy on the value of N to identify changing trends in the volatility of any instrument. Turtle rules taken from an online PDF: "The Turtles used a concept that Richard Dennis and Bill Eckhardt called N to represent the underlying volatility of a particular market. N is simply the 20-day exponential moving average of the True Range, which is now more commonly known as the ATR. Conceptually, N represents the average range in price movement that a particular market makes in a single day, accounting for opening gaps. N was measured in the same points as the underlying contract. The Turtles built positions in pieces which we called Units. Units were sized so that 1 N represented 1% of the account equity. Thus, a unit for a given market or commodity can be calculated using the following formula: Unit = 1% of Account/(N x Dollars per Point)" To normalize the Unit formula, this script instead takes the value of (close/N). Dollars per point = 1 for stocks and crypto, but will change depending on the contract specifications for individual futures . "Since the Turtles used the Unit as the base measure for position size, and since those units were volatility risk adjusted, the Unit was a measure of both the risk of a position, and of the entire portfolio of positions." When the EMA's are green, volatility is decreasing. When the EMA's are red, volatility is increasing. When the EMA's are grey, the trend is changing.
Indicador Pine Script®
por MartinShkreIi
2
Turtle N NormalizedSimple script that calculates the normalized value of N. Rules taken from an online PDF containing the original Turtle system: "The Turtles used a volatility-based constant percentage risk position sizing algorithm. The Turtles used a concept that Richard Dennis and Bill Eckhardt called N to represent the underlying volatility of a particular market. N is simply the 20-day exponential moving average of the True Range, which is now more commonly known as the ATR. Conceptually, N represents the average range in price movement that a particular market makes in a single day, accounting for opening gaps. N was measured in the same points as the underlying contract. The Turtles built positions in pieces which we called Units. Units were sized so that 1 N represented 1% of the account equity. Thus, a unit for a given market or commodity can be calculated using the following formula: Unit = 1% of Account/(N x Dollars per Point)" To normalize the Unit formula, this script instead takes the value of (close/N). Dollars per point = 1 for stocks and crypto, but will change depending on the contract specifications for individual futures. "Since the Turtles used the Unit as the base measure for position size, and since those units were volatility risk adjusted, the Unit was a measure of both the risk of a position, and of the entire portfolio of positions." When the value of N is high, volatility is low and you should be more risk-on. When the value of N is low, volatility is high and you should be more risk-off.
Indicador Pine Script®
por MartinShkreIi
Awesome Oscillator_VTX Abbreviations: AO - Awesome Oscillator AC - Accelerator Oscillator TP - TimePeriod (1m,2m,5m,1h....) TP Steps - 1m,3m,12m,1h,5h,D (This steps i use) Use-case: Awesome Oscillator best used to find Divergence/Convergence what results in Weakening of Momentum and Price reversals. This script calculates and plots AO/AC with minute precision, removing GAPS when projecting Higher Period AO/AC. So you can accommodate all important information on one chart with best precision. Made for Intraday Perioads. Best used for DayTrading, when you need to make quick and efficient decisions. Calculation = Preferred resolution * Length / Present resolution. As Additional Function, this Awesome Oscillator has AC built in. Settings: Resolution - Most used TP included, plus some exclusive paid plans (1m, 2m, 3m, 5m, 12m, 15m, 1h, 4h, 5h, Daily). Default set to 1h Use AO - You can switch between EMA and SMA for FastMA/SlowMA calculation. Default set to EMA FastMA - standard function. Default set to 5 SlowMA - standard function. Default set to 34 Signal Line - Plots MA to show Momentum. Uses EMA/SMA based on "Use AO" selection. Default set to 5 Use AC - You can switch between EMA and SMA for AC calculation. Default set to SMA Offset - standard function. Default set to 0 Accelerator - AC length. Default set to 5 Source - standard function. Default set to hlc3 Why to use it ? Yes, i know that variable TP is standard now in TradingView. But there are some limitations, especially for DayTraders. Problem: Imagine you are trading/scalping on 1m.. 5m.. 15.. charts and you want to see where are your on Higher TP. -- You can change to 1h and check it, but you will loose the picture from smaller TP. -- You can use Standard TP function, but your data will update every 15m, 1h (depends on TP). And in result you have Gaps between bars. Solution: This script help to solve this problem, by breaking information down to 1m and building from there. So whatever Intraday TP you choose to trade, your AO/AC will be updated with minute precision. Limitations: Sadly nothing without limitations. 1. For Best performance use only Higher TP dividable By Yours (ex. You use 3m chart, then you can plot 12m, 15m, 1h / You use 5m chart, then you can plot 15m, 1h. 12m will already have 3m of information lost using 5m Chart )
Indicador Pine Script®
por VikontTrade
4
Kicker ScannerThe kicker pattern is deemed to be one of the most reliable reversal patterns and usually signifies a dramatic change in the fundamentals of the company in question. It is a 2-candle pattern, whereby there is a significant gap between the body of the most recent candle and the previous candle. A bullish kicker is one in which the most recent candle is bullish, and the previous candle is bearish. A bearish kicker is one in which the most recent candle is bearish, and the previous candle is bullish. I notice this works best for stocks, as there are many gaps in a stock chart. Currencies have few gaps, and thus few kickers. From within the settings, you can set the minimum permitted gap between the two candles, specified in price, accurate to 6 decimal places; 0.000001.
Indicador Pine Script®
por UnknownUnicorn1373033
5
Line breakI decided to help TradingView programmers and wrote code that converts a standard candles / bars to a line break chart. The built-in linebreak() and security() functions for constructing a Linear Break chart are bad, the chart is not built correctly, and does not correspond to the Line Breakout chart built into TradingView. I’m talking about simulating the Linear Break lines using the plotcandle() annotation, because these are the same candles without shadows. When you try to use the market simulator, when the gaps are turned on in the security() function, nothing is added to the chart, and when turned off, a completely different line break chart is drawn. Do not try to write strategies based on the built-in linebreak() function! The developers write in the manual: "Please note that you cannot plot Line Break boxes from Pine script exactly as they look. You can only get a series of numbers similar to OHLC values ​​for Line Break charts and use them in your algorithms." However, it is possible to build a “Linear Breakthrough” chart exactly like the “Linear Breakthrough" chart built into TradingView. Personally, I had enough Pine Script functionality. For a complete understanding of how such a graph is built, you can refer to Steve Nison's book “BEYOND JAPANESE CANDLES” and see the instructions for creating a “Three-Line Breakthrough” chart (the number of lines for a breakthrough is three): Rule 1: if today's price is above the base price (closing the first candle), draw a white line from the base price to the new maximum price (before closing). or Rule 2: if today's price is below the base price, draw a black line from the base price to the new low of prices (before closing). Rule 3: if today's price is no different from the base, do not draw any line. Rule 4: if today's price rises above the maximum of the first line, shift to the column to the right and draw a new white line from the previous maximum to the new maximum of prices. Rule 5: if the price is below the low of the first line, move one column to the right and draw a new black line down from the previous low to the new low of prices. Rule 6: if the price is kept in the range of the first line, nothing is applied to the chart. Rule 7: if the market reaches a new maximum, surpassing the maximum of previous lines, move to the column to the right and draw a new white line up to a new maximum. Rule 8: if today's price is below the low of previous lines (i.e. there is a new low), move to the right column and draw a new black line down to a new low. Rule 9: if the price is in the range of the first two lines, nothing is applied to the chart. Rule 10: if there is a series of three white lines, a new white line is drawn when a new maximum is reached (even if it is only one tick higher than the old one). Under the same conditions, for drawing a black reversal line, the price should fall below the minimum of the series of the last three white lines. Such a black line is called a black reversal line. It runs from the base of the highest white line to a new low of price. Rule 11: if there is a series of three black lines, a new black line is drawn when a new minimum is reached. Under the same conditions, for drawing a white line, called a white reversal line, the price must exceed the maximum of the previous three black lines. This line is drawn from the top of the lowest black line to a new high of the price. So, the script was not small, but the idea is extremely simple: if you need to break n lines to build a line, then among these n lines (or less, if this is the beginning of the chart), the maximum or minimum of closures and openings will be searched. If the current candles closed above or below these highs or lows, then a new line is added to the chart on the current candles (trend or breakout). According to my observations, this script draws a chart that is completely identical to the Line Breakout chart built into TradingView, but of course with gaps, as there is time in the candles / bar chart. I stuffed all the logic into a wrapper in the form of the get_linebreak() function, which returns a tuple of OHLC values. And these series with the help of the plotcandle() annotation can be converted to the "Linear Breakthrough" chart. I also want to note that with a large number of candles on the chart, outrages about the buffer size uncertainty are heard from the TradingView black box. Because of this, in the annotation study() set the value to the max_bars_back parameter. In general, use it (for example, to write strategies)!
Indicador Pine Script®
por AlanReys
9
True Accumulation/DistributionAccumulation/Distribution is developed by Marc Chaikin to provide insight into strength of a trend by measuring flow of buy and sell volume. The fact that A/D only factors current period's range for calculating the volume multiplier causes problem with price gaps. They are ignored or even misinterpreted. True Accumulation/Distribution solves the problem by using True Range instead of only relying on current period's high and low. In this example you can see when a gap has occurred in Amazon Inc.'s daily chart True A/D has handled it better than Accumulation/Distribution which a bearish close in period's range has caused it to misinterpret the strong buy pressure as sell volume.
Indicador Pine Script®
por RezzaHmt
1
Grover Llorens Activator Strategy AnalysisThe Grover Llorens Activator is a trailing stop indicator deeply inspired by the parabolic SAR indicator, and aim to provide early exit points and reversal detection. The indicator was posted not so long ago, you can find it here : Today a strategy using the indicator is proposed, and its profitability is analyzed on 3 different markets with the main time frame being 1 hour, remember that lower time frames involve lower absolute price changes, therefore we are way more affected by the spread, and we can require a larger position sizing depending on our investment target, trading higher time-frames is always a good practice and this is why 1 hour is selected. Based on the result we might make various conclusions regarding the indicator accuracy and might have ideas on future improvements of the indicator. I'am not great when it comes to strategy design, i still hope to share correct and useful information in this post, let me know your thoughts on the post format and if i should make more of these. Setup And Rules The analysis is solely based on the indicator signals, money management isn't taken into account, this allow us to have an idea on the indicator robustness and resilience, particularly on extremely volatile markets and ones exhibiting a chaotic structure, altho it is normally good practice to close any position before a market closure in order to avoid any potential major gaps. The settings used are 480 for length and 14 for mult, this create relatively mid term signals that are suited for a trend indicator such as the Grover Llorens Activator, unfortunately we can't infer the indicator optimal settings, thats how it is with any technical indicator anyway. Here are the rules of our strategy : long : closing price cross over the indicator short : closing price cross under the indicator We use constant position sizing, once a signal is triggered all the previous positions are closed. Description Of The Statistics Used Various statistics are presented in this post, here is a brief description of the main ones : Percent Profitability (higher = better): Percentage of winning trades, that is : winning trades/total number of trades × 100 Maximum Drawdown (lower = better) : The highest difference between a peak and a valley in the balance, that is : peak - valley , in percentage : (peak - valley)/peak × 100 Profit Factor (higher = better) : Gross profit divided by gross loss, values under 1 represent gross losses superior to the gross profits Remember that more volatility = more risk, since higher absolute price changes can logically cause larger losses. EURUSD The first market analyzed is the Forex market with the EURUSD major pair with a position sizing of 1000 units (1 micro lot). Since October EURUSD is not showing any particular strong trend but posses a discrete rising motion, fortunately cycles can be observed. The equity was rising until two trades appeared causing a decline in the equity. Before October a bearish market could be observed. We can see that the equity is rising, the trend still posses various retracements that affect our indicator, however we can see that the indicator totally nail the end of the trend, thats the power of converging toward the price. In short : $ 86.63 net profit 340 closed trades 37.65 % profitable (thats a lot of loosing trades) 1.19 profit factor $ 76.67 max drawdown Applying a spread would create negative results (in general the average spread is used), not a great start... BTCUSD The cryptocurrency market is relatively more volatile than others, which also mean potentially higher returns, we test the indicator using certainly the most traded cryptocurrency, BTCUSD. We will use a position sizing of 1 unit. In the case of BTCUSD the strategy balance is relatively stationary around the initial capital, with of course high dispersion. from september to december the market is bearish with various ranging periods, no apparent cycles can be observed, except maybe in the ranging period of october, this ranging period is followed by a non linear trend (relatively parabolic) that the indicator failed to capture in its integrity (this is a recurrent problem and it is starting to piss me off xD). In short : $ 2010.64 net profit (aka how i bet the crypto market) 395 closed trades 38.23 % profitable 1.036 profit factor $ 5738.01 max drawdown (aka how i lost to the crypto market) AMD AMD stand for Advanced Micro Devices and is a company focused on the development of computer technology, i love the microprocessor market and i really like AMD who start this year in a pretty great way with a net bullish trend. The performance of the indicator on AMD is decent (at last !) with the equity producing many new higher highs. The indicator performance still drop in the middle end of 2019 with a large equity drawdown of 17$ caused by the gap of august 8. Unfortunately AMD, like lot of well behaving stocks can only tells us that the indicator has good performances on heavily trending markets with no excess of noise or chaotic structures. In short : $ 17.86 net profit (Enough for a consistent lunch) 295 closed trades 36.27 % profitable 1.414 profit factor $ 10.37 max drawdown. Conclusion A strategy using the recently proposed Grover Llorens activator has been presented. We can easily conclude that the indicator can't possibly generate long term returns under chaotic and volatile markets, and could even produce unnecessary trades in trending markets without much parasitic fluctuations such as noise and retracements (think about a simple linear trend) since the indicator converge toward the price and would therefore automatically cross over/under the trend, thus guaranteeing a false signal. However we have seen its ability to provide accurate early reversal detection shine from time to time, thus over performing lagging indicators in this aspect, however the duration of price fluctuations isn't fixed at a certain period, the rate of convergence should be way faster during volatile fluctuations, of moderate speed during more cyclic fluctuations, and really slow with apparent long term trends, this could be achieved by making the indicator adaptive, but it won't really make it necessarily perform better. That said i still believe that converging trend indicators are really interesting and aim to capture the non lasting behavior of price fluctuations, they shouldn't receive so much hate (think about the poor p-sar). Thanks for reading !
Estrategia Pine Script®
por alexgrover
20
[PX] VWAP Gap LevelHello guys, another day, another method for detecting support and resistance level. This time it's all about the VWAP and daily gaps it might produce. How does it work? The indicator detects when a new daily candle begins and the VWAP makes a big move in either direction. Often it produces a gap and this is where the support or resistance level will be plotted. The idea behind it is, that those gaps get filled at some point in time. You can control how big a VWAP movement ("gap") has to be with the "VWAP Movement %" -setting. Also, you can adjust the style of the level. If you find this indicator useful, please leave a "like" and hit that "follow" button :) Have fun and happy trading :)))
Indicador Pine Script®
por paaax
3
OVL_Kikoocycle Beta_Pine3This script use : - A custom Chande Kroll Stop for generate the channel - Some custom Parabolic S.A.R for generate cycles This script can be separated into 3 categories: - Channel Kroll generator : one layer for the actual interval and a layer for a Large Timeframe .(with ratio) - "Range" generator : one layer for actual Interval and a layer for a Large Timeframe.(with automique ratio) -Targets generator : one layer for actual interval with different trend. "Channel Kroll" : - I "hijack" the Chande Kroll Stop formula with custom parameters for generate this channel. Overall, it works like other types of channels like BB, etc... A midline and two borders. The thickness of the borders are relatively important here. A thick border shows some resistance of the area. And so the probability of seeing the market return to its first contact is stronger. While a very thin and vertical border would rather play the role of a breach, a bit like the idea of gaps. Often the market seems to want to go after several cycles. You can activate its Large TimeFrame version, its midline is strong and fine borders helps to judge the risk. SARget + "SAR Limited" : - (S.A.R + targets) The philosophy of this function is simple... When a small cycle is broken, it creates a mark on a higher cycle. So on until the SAR called "SAR Limited". For simplicity, imagine a fractal image but inverted ... Break the small figure, it will mark the larger figure at this time but to get there you still have to make the way to the small figure. Targets are : cross ("+") for fast targets(hidden by default because, theire work only on lower interval), squares (for medium trend), Xcross(for large trend) and red cross(they try to find a large contexte). When a target proc, it is for later (market need some cycles for going to, but it is relative to your interval). This gives you speculative goals. Why 2 targets for a same type and a triangle with a 90deg angle : This give a potential area for management.The triangle help to visualize the SAR and to juge the market reaction. You need to adapte your trade with that... Targets may be slightly too far because I am a bad coder... Currently the targets appear at the moment of rupture but it would be necessary to wait for the end of the breaking movement. Which can bring a positional error if the break is violent. RnG and LTF RnG : - Attempt to generate a Fibo range for each cycle and see interressing areas to enter or exit. This is played with the same philosophy as the Fibo extensions and retracement. When a new RnG is generated, do not rush. It appears showing 50/50 for both sides. When a new RnG is generated, do not rush. It appears showing 50/50 for both sides. As long as the market is out of the middle zone (the 3 lines) keep in mind the past RnG. When the market is out of range, you can use the FibRetracement tool for have extensions. One point at each end, as on the presentation graph. (Values 1.14, 1.272, 1.414, 1.618, 1.786, 2, 2.4 and 4 work well.) If too extrem you can active the LTF version. Never fomo a break, market like to pull a level... Observe and be patient. It's easier to use than to explain xD NB : Do not use the LTF as context. For this, it is better to look at a higher interval. I invite you to look in the style tab of the script and deselect the plots named UNCHECKEME, this will ease your browser.
Indicador Pine Script®
por Twigho
2
Volume Profile Free Ultra SLI (100 Levels Value Area VWAP) - RRBVolume Profile Free Ultra SLI by RagingRocketBull 2019 Version 1.0 This indicator calculates Volume Profile for a given range and shows it as a histogram consisting of 100 horizontal bars. This is basically the MAX SLI version with +50 more Pinescript v4 line objects added as levels. It can also show Point of Control (POC), Developing POC, Value Area/VWAP StdDev High/Low as dynamically moving levels. Free accounts can't access Standard TradingView Volume Profile, hence this indicator. There are several versions: Free Pro, Free MAX SLI, Free Ultra SLI, Free History. This is the Free Ultra SLI version. The Differences are listed below: - Free Pro: 25 levels, +Developing POC, Value Area/VWAP High/Low Levels, Above/Below Area Dimming - Free MAX SLI: 50 levels, 2x SLI modes for Buy/Sell or even higher res 150 levels - Free Ultra SLI: 100 levels, packed to the limit, 2x SLI modes for Buy/Sell or even higher res 300 levels - Free History: auto highest/lowest, historic poc/va levels for each session Features: - High-Res Volume Profile with up to 100 levels (line implementation) - 2x SLI modes for even higher res: 300 levels with 3x vertical SLI, 100 buy/sell levels with 2x horiz SLI - Calculate Volume Profile on full history - POC, Developing POC Levels - Buy/Sell/Total volume modes - Side Cover - Value Area, VAH/VAL dynamic levels - VWAP High/Low dynamic levels with Source, Length, StdDev as params - Show/Hide all levels - Dim Non Value Area Zones - Custom Range with Highlighting - 3 Anchor points for Volume Profile - Flip Levels Horizontally - Adjustable width, offset and spacing of levels - Custom Color for POC/VA/VWAP levels, Transparency for buy/sell levels WARNING: - Compilation Time: 1 min 20 sec Usage: - specify max_level/min_level/spacing (required) - select range (start_bar, range length), confirm with range highlighting - select volume type: Buy/Sell/Total - select mode Value Area/VWAP to show corresponding levels - flip/select anchor point to position the buy/sell levels - use Horiz Buy/Sell SLI mode with 100 or Vertical SLI with 300 levels if needed - use POC/Developing POC/VA/VWAP High/Low as S/R levels. Usually daily values from 1-3 days back are used as levels for the current day. SLI: use SLI modes to extend the functionality of the indicator: - Horiz Buy/Sell 2x SLI lets you view 100 Buy/Sell Levels at the same time - Vertical Max_Vol 3x SLI lets you increase the resolution to 300 levels - you need at least 2 instances of the indicator attached to the same chart for SLI to work 1) Enable Horiz SLI: - attach 2 indicator instances to the chart - make sure all instances have the same min_level/max_level/range/spacing settings - select volume type for each instance: you can have a buy/sell or buy/total or sell/total SLI. Make sure your buy volume instance is the last attached to be displayed on top of sell/total instances without overlapping. - set buy_sell_sli_mode to true for indicator instances with volume_type = buy/sell, for type total this is optional. - this basically tells the script to calculate % lengths based on total volume instead of individual buy/sell volumes and use ext offset for sell levels - Sell Offset is calculated relative to Buy Offset to stack/extend sell after buy. Buy Offset = Zero - Buy Length. Sell Offset = Buy Offset - Sell Length = Zero - Buy Length - Sell Length - there are no master/slave instances in this mode, all indicators are equal, poc/va levels are not affected and can work independently, i.e. one instance can show va levels, another - vwap. 2) Enable Vertical SLI: - attach the first instance and evaluate the full range to roughly determine where is the highest max_vol/poc level i.e. 0..20000, poc is in the bottom half (third, middle etc) or - add more instances and split the full vertical range between them, i.e. set min_level/max_level of each corresponding instance to 0..10000, 10000..20000 etc - make sure all instances have the same range/spacing settings - an instance with a subrange containing the poc level of the full range is now your master instance (bottom half). All other instances are slaves, their levels will be calculated based on the max_vol/poc of the master instance instead of local values - set show_max_vol_sli to true for the master instance. for slave instances this is optional and can be used to check if master/slave max_vol values match and slave can read the master's value. This simply plots the max_vol value - you can also attach all instances and set show_max_vol_sli to true in all of them - the instance with the largest max_vol should become the master Auto/Manual Ext Max_Vol Modes: - for auto vertical max_vol SLI mode set max_vol_sli_src in all slave instances to the max_vol of the master indicator: "VolumeProfileFree_MAX_RRB: Max Volume for Vertical SLI Mode". It can be tricky with 2+ instances - in case auto SLI mode doesn't work - assign max_vol_sli_ext in all slave instances the max_vol value of the master indicator manually and repeat on each change - manual override max_vol_sli_ext has higher priority than auto max_vol_sli_src when both values are assigned, when they are 0 and close respectively - SLI is disabled - master/slave max_vol values must match on each bar at all times to maintain proper level scale, otherwise slave's levels will look larger than they should relative to the master's levels. - Max_vol (red) is the last param in the long list of indicator outputs - the only true max_vol/poc in this SLI mode is the master's max_vol/poc. All poc/va levels in slaves will be irrelevant and are disabled automatically. Slaves can only show VWAP levels. - VA Levels of the master instance in this SLI mode are calculated based on the subrange, not the whole range and may be inaccurate. Cross check with the full range. WARNING! - auto mode max_vol_sli_src is experimental and may not work as expected - you can only assign auto mode max_vol_sli_src = max_vol once due to some bug with unhandled exception/buffer overflow in Tradingview. Seems that you can clear the value only by removing the indicator instance - sometimes you may see a "study in error state" error when attempting to set it back to close. Remove indicator/Reload chart and start from scratch - volume profile may not finish to redraw and freeze in an ugly shape after an UI parameter change when max_vol_sli_src is assigned a max_vol value. Assign it to close - VP should redraw properly, but it may not clear the assigned max_vol value - you can't seem to be able to assign a proper auto max_vol value to the 3rd slave instance - 2x Vertical SLI works and tested in both auto/manual, 3x SLI - only manual seems to work (you can have a mixed mode: 2nd instance - auto, 3rd - manual) Notes: - This code uses Pinescript v3 compatibility framework - This code is 20x-30x faster (main for cycle is removed) especially on lower tfs with long history - only 4-5 sec load/redraw time vs 30-60 sec of the old Pro versions - Instead of repeatedly calculating the total sum of volumes for the whole range on each bar, vol sums are now increased on each bar and passed to the next in the range making it a per range vs per bar calculation that reduces time dramatically - 100 levels consist of 50 main plot levels and 50 line objects used as alternate levels, differences are: - line objects are always shown on top of other objects, such as plot levels, zero line and side cover, it's not possible to cover/move them below. - all line objects have variable lengths, use actual x,y coords and don't need side cover, while all plot levels have a fixed length of 100 bars, use offset and require cover. - all key properties of line objects, such as x,y coords, color can be modified, objects can be moved/deleted, while this is not possible for static plot levels. - large width values cause line objects to expand only up/down from center while their length remains the same and stays within the level's start/end points similar to an area style. - large width values make plot levels expand in all directions (both h/v), beyond level start/end points, sometimes overlapping zero line, making them an inaccurate % length representation, as opposed to line objects/plot levels with area style. - large width values translate into different widths on screen for line objects and plot levels. - you can't compensate for this unwanted horiz width expansion of plot levels because width uses its own units, that don't translate into bars/pixels. - line objects are visible only when num_levels > 50, plot levels are used otherwise - Since line objects are lines, plot levels also use style line because other style implementations will break the symmetry/spacing between levels. - if you don't see a volume profile check range settings: min_level/max_level and spacing, set spacing to 0 (or adjust accordingly based on the symbol's precision, i.e. 0.00001) - you can view either of Buy/Sell/Total volumes, but you can't display Buy/Sell levels at the same time using a single instance (this would 2x reduce the number of levels). Use 2 indicator instances in horiz buy/sell sli mode for that. - Volume Profile/Value Area are calculated for a given range and updated on each bar. Each level has a fixed length. Offsets control visible level parts. Side Cover hides the invisible parts. - Custom Color for POC/VA/VWAP levels - UI Style color/transparency can only change shape's color and doesn't affect textcolor, hence this additional option - Custom Width - UI Style supports only width <= 4, hence this additional option - POC is visible in both modes. In VWAP mode Developing POC becomes VWAP, VA High and Low => VWAP High and Low correspondingly to minimize the number of plot outputs - You can't change buy/sell level colors from input (only transparency) - this requires 2x plot outputs => 2x reduces the number of levels to fit the max 64 limit. That's why 2 additional plots are used to dim the non Value Area zones - You can change level transparency of line objects. Due to Pinescript limitations, only discrete values are supported. - Inverse transp correlation creates the necessary illusion of "covered" line objects, although they are shown on top of the cover all the time - If custom lines_transp is set the illusion will break because transp range can't be skewed easily (i.e. transp 0..100 is always mapped to 100..0 and can't be mapped to 50..0) - transparency can applied to lines dynamically but nva top zone can't be completely removed because plot/mixed type of levels are still used when num_levels < 50 and require cover - transparency can't be applied to plot levels dynamically from script this can be done only once from UI, and you can't change plot color for the past length bars - All buy/sell volume lengths are calculated as % of a fixed base width = 100 bars (100%). You can't set show_last from input to change it - Range selection/Anchoring is not accurate on charts with time gaps since you can only anchor from a point in the future and measure distance in time periods, not actual bars, and there's no way of knowing the number of future gaps in advance. - Adjust Width for Log Scale mode now also works on high precision charts with small prices (i.e. 0.00001) - in Adjust Width for Log Scale mode Level1 width extremes can be capped using max deviation (when level1 = 0, shift = 0 width becomes infinite) - There's no such thing as buy/sell volume, there's just volume, but for the purposes of the Volume Profile method, assume: bull candle = buy volume, bear candle = sell volume P.S. I am your grandfather, Luke! Now, join the Dark Side in your father's steps or be destroyed! Once more the Sith will rule the Galaxy, and we shall have peace...
Indicador Pine Script®
por RagingRocketBull
112