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Modern Portfolio Management IndicatorAfter weeks of grueling over this indicator, I am excited to be releasing it! Intro: This is not a sexy, technical or math based indicator that will give you buy and sell signals or anything fancy, but it is an indicator that I created in hopes to bridge a gap I have noticed. That gap is the lack of indicators and technical resources for those who also like to plan their investments. This indicator is tailored to those who are either established investors and to those who are looking to get into investing but don't really know where to start. The premise of this indicator is based on Modern Portfolio Theory (MPT). Before we get into the indicator itself, I think its important to provide a quick synopsis of MPT. About MPT: Modern Portfolio Theory (MPT) is an investment framework that was developed by Harry Markowitz in the 1950s. It is based on the idea that an investor can optimize their investment portfolio by considering the trade-off between risk and return. MPT emphasizes diversification and holds that the risk of an individual asset should be assessed in the context of its contribution to the overall portfolio's risk. The theory suggests that by diversifying investments across different asset classes with varying levels of risk, an investor can achieve a more efficient portfolio that maximizes returns for a given level of risk or minimizes risk for a desired level of return. MPT also introduced the concept of the efficient frontier, which represents the set of portfolios that offer the highest expected return for a given level of risk. MPT has been widely adopted and used by investors, financial advisors, and portfolio managers to construct and manage portfolios. So how does this indicator help with MPT? The thinking and theory that went behind this indicator was this: I wanted an indicator, or really just a "way" to test and back-test ticker performance over time and under various circumstances and help manage risk. Over the last 3 years we have seen a massive bull market, followed by a pretty huge bear market, followed by a very unexpected bull market. We have been and continue to be plagued with economic and political uncertainty that seems to constantly be looming over everyone with each waking day. Some people have liquidated their retirement investments, while others are fomoing in to catch this current bull run. But which tickers are sound and how tickers and funds have compared amongst each other remains somewhat difficult to ascertain, absent manually reviewing and calculating each ticker individually. That is where this indicator comes in. This indicator permits the user to define up to 5 equities that they are potentially interested in investing in, or are already invested in. The user can then select a specific period in time, say from the beginning of 2022 till now. The user can then define how much they want to invest in each company by number of shares, so if they want to buy 1 share a week, or 2 shares a month, they can input these variables into the indicator to draw conclusions. As many brokers are also now permitting fractional share trading, this ability is also integrated into the indicator. So for shares, you can put in, say, 0.25 shares of SPY and the indicator will accept this and account for this fractional share. The indicator will then show you a portfolio summary of what your earnings and returns would be for the defined period. It will provide a percent return as well as the projected P&L based on your desired investment amount and frequency. But it goes beyond just that, you can also have the indicator display a simple forecasting projection of the portfolio. It will show the projected P&L and % Return over various periods in time on each of the ticker (see image below): The indicator will also break down your portfolio allocation, it will show where the majority of your holdings are and where the majority of your P&L in coming from (best performers will show a green fill and worst will show a red fill, see image below): This colour coding also extends to the portfolio breakdown itself. Dollar cost averaging (DCA) is incorporated into the indicator itself, by assuming ongoing contributions. If you want to stop contributions at a certain point, you just select your end time for contributions at the point in which you would stop contributing. The indicator also provides some basic fundamental information about the company tickers (if applicable). Simply select the "Fundamental" chart and it will display a breakdown of the fundamentals, including dividends paid, market cap and earnings yield: The indicator also provides a correlation assessment of each holding against each other holding. This emphasizes the profound role of diversification on portfolios. The less correlation you have in your portfolio among your holdings, the better diversified you are. As well, if you have holdings that are perfectly inverse other holdings, you have a pseudo hedge against the downturn of one of your holdings. This is even more helpful if the inverse is a company with solid fundamentals. In the below example you will see NASDAQ:IRDM in the portfolio. You will be able to see that NASDAQ:IRDM has a slight inverse relationship to SPY: Yet IRDM has solid fundamentals and is performing well fundamentally. Thus, this makes IRDIM a solid addition to your portfolio as it can potentially hedge against a downturn for SPY and is less risky than simply holding an inverse leveraged share on SPY which is most likely just going to cost you money than make you money. Concluding remarks: There are many fun and interesting things you can do with this indicator and I encourage you to try it out and have fun with it! The overall objective with the indicator is to help you plan for your portfolio and not necessarily to manage your portfolio. If you have a few stocks you are looking at and contemplating investing in, this will help you run some theoretical scenarios with this stock based on historical performance and also help give you a feel of how it will perform in the future based on past behaviour. It is important to remember that past behaviour does not indicate future behaviour, but the indicator provides you with tools to get a feel for how a stock has performed under various circumstances and get a general feel of the fundamentals of the company you could potentially be investing in. Please note, this indicator is not meant to replace full, fundamental analyses of individual companies. It is simply meant to give you a "gist" of how companies are fundamentally and how they have performed historically. I hope you enjoy it! Safe trades everyone!
Indicador Pine Script®
por Steversteves
13
Price & Volume Profile (Expo)█ Overview The Price & Volume Profile provides a holistic perspective on market dynamics by simultaneously tracking price action and trading volume across a range of price levels. So it is not only a volume-based indicator but also a price-based one. In addition to illustrating volume distribution, it quantifies how frequently the price has fallen within a particular range, thus offering a holistic perspective on market dynamics. This unique and comprehensive approach to market analysis by considering both price action and trading volume, two crucial dimensions of market activity. Its distinctive methodology offers several advantages: Holistic Market View: By simultaneously tracking the frequency of specific price ranges (Price Profile) and the volume traded at those ranges (Volume Profile), this indicator provides a more complete picture of market behavior. It shows not only where the market is trading but also how much it's trading, reflecting both price acceptance levels and market participation intensity. Point of Control (POC): The POC, as highlighted by this indicator, serves as a significant reference point for traders. It identifies the price level with the highest trading activity, thus indicating a strong consensus among market participants about the asset's fair value. Observing how price interacts with the POC can offer valuable insights into market sentiment and potential trend reversals. Support and Resistance Levels: Price levels with high trading activity often act as support or resistance in future price movements. The indicator visually represents these levels, enabling traders to anticipate potential price reactions. Price Profile Price and Volume Profile █ Calculations The algorithm analyzes both trade frequency and volume across different price levels. It identifies these levels within the visible chart range, then examines each bar to determine if the selected price falls within these levels. If so, it increases a counter and adds the trading volume. This process repeats across the visible range and is visualized as a horizontal histogram, each bar representing a price level and the bar length reflecting trade frequency and volume. Additionally, it calculates the Point of Control (POC), signifying the price level with the highest activity. In summary: The histogram presents a dual perspective - not only the traded volume at each price level but also the frequency of the price hitting each range. The longer the bar, the more times the price has frequented that specific range, revealing key insights into price behavior and acceptance levels. These frequently visited areas often emerge as strong support or resistance zones, helping traders navigate market movements. Please note that the indicator adjusts to the visible price range, making it adaptable to changing market conditions. This dynamic analysis can provide more relevant and timely information than static indicators. █ How to use This indicator is beneficial for traders as it offers insights into the distribution of trading activity across different price levels. It helps identify key areas of support and resistance and gives a visual representation of market sentiment and liquidity. The point of control (POC) , which is the price level with the highest traded volume or frequency count, becomes even more crucial in this context. It marks the price at which the most trading activity occurred, signaling a strong consensus among market participants about the asset's fair value. If the market price deviates significantly from the POC, it could suggest an overbought or oversold condition, potentially leading to a price reversion. Fair Price Areas/gaps are specific price levels or zones where an asset has spent limited time in the past. These areas are considered interesting or significant because they may have an impact on future price action. Similar to the concept of fair value gaps, which refers to discrepancies between an asset's market price and its estimated intrinsic value, Fair Price Areas/gaps focus on price levels that have been relatively underutilized in terms of trading activity. When an asset's price reaches a Fair Price Area/gap, traders and investors pay attention because they expect the price to react in some way. The rationale behind this concept is that price tends to gravitate towards areas where it has spent less time in the past, as the market perceives them as significant levels. █ Settings The indicator is customizable, allowing users to define the number of price levels (rows), the offset, the data source, and whether to display volume or frequency count. It also adjusts dynamically to the visible price range on the chart, ensuring that the analysis remains relevant and timely with changing market conditions. Source: The price to use for the calculation. Typically, this is the closing price. By considering the user-selected Source (typically the closing price), the indicator determines the frequency with which the price lands within each designated price level (row) over the selected period. In essence, the indicator provides a count of bars where the Source price falls within each range, essentially creating a "Price Profile." Row Size: The number of price levels (rows) to divide the visible price range into. Display: Choose whether to display the number of bars ("Counter") or the total volume ("Volume") for each price level. Offset: The distance of the histogram from the price chart. Point of Control (POC): If enabled, the indicator will highlight the price level with the most activity. ----------------- 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!
Indicador Pine Script®
por Zeiierman
26
Multi Kernel Regression [ChartPrime]The "Multi Kernel Regression" is a versatile trading indicator that provides graphical interpretations of market trends by using different kernel regression methods. It's beneficial because it smoothes out price data, creating a clearer picture of price movements, and can be tailored according to the user's preference with various options. What makes this indicator uniquely versatile is the 'Kernel Select' feature, which allows you to choose from a variety of regression kernel types, such as Gaussian, Logistic, Cosine, and many more. In fact, you have 17 options in total, making this an adaptable tool for diverse market contexts. The bandwidth input parameter directly affects the smoothness of the regression line. While a lower value will make the line more sensitive to price changes by sticking closely to the actual prices, a higher value will smooth out the line even further by placing more emphasis on distant prices. It's worth noting that the indicator's 'Repaint' function, which re-estimates work according to the most recent data, is not a deficiency or a flaw. Instead, it’s a crucial part of its functionality, updating the regression line with the most recent data, ensuring the indicator measurements remain as accurate as possible. We have however included a non-repaint feature that provides fixed calculations, creating a steady line that does not change once it has been plotted, for a different perspective on market trends. This indicator also allows you to customize the line color, style, and width, allowing you to seamlessly integrate it into your existing chart setup. With labels indicating potential market turn points, you can stay on top of significant price movements. Repaint : Enabling this allows the estimator to repaint to maintain accuracy as new data comes in. Kernel Select : This option allows you to select from an array of kernel types such as Triangular, Gaussian, Logistic, etc. Each kernel has a unique weight function which influences how the regression line is calculated. Bandwidth : This input, a scalar value, controls the regression line's sensitivity towards the price changes. A lower value makes the regression line more sensitive (closer to price) and higher value makes it smoother. Source : Here you denote which price the indicator should consider for calculation. Traditionally, this is set as the close price. Deviation : Adjust this to change the distance of the channel from the regression line. Higher values widen the channel, lower values make it smaller. Line Style : This provides options to adjust the visual style of the regression lines. Options include Solid, Dotted, and Dashed. Labels : Enabling this introduces markers at points where the market direction switches. Adjust the label size to suit your preference. Colors : Customize color schemes for bullish and bearish trends along with the text color to match your chart setup. Kernel regression, the technique behind the Multi Kernel Regression Indicator, has a rich history rooted in the world of statistical analysis and machine learning. The origins of kernel regression are linked to the work of Emanuel Parzen in the 1960s. He was a pioneer in the development of nonparametric statistics, a domain where kernel regression plays a critical role. Although originally developed for the field of probability, these methods quickly found application in various other scientific disciplines, notably in econometrics and finance. Kernel regression became really popular in the 1980s and 1990s along with the rise of other nonparametric techniques, like local regression and spline smoothing. It was during this time that kernel regression methods were extensively studied and widely applied in the fields of machine learning and data science. What makes the kernel regression ideal for various statistical tasks, including financial market analysis, is its flexibility. Unlike linear regression, which assumes a specific functional form for the relationship between the independent and dependent variables, kernel regression makes no such assumptions. It creates a smooth curve fit to the data, which makes it extremely useful in capturing complex relationships in data. In the context of stock market analysis, kernel regression techniques came into use in the late 20th century as computational power improved and these techniques could be more easily applied. Since then, they have played a fundamental role in financial market modeling, market prediction, and the development of trading indicators, like the Multi Kernel Regression Indicator. Today, the use of kernel regression has solidified its place in the world of trading and market analysis, being widely recognized as one of the most effective methods for capturing and visualizing market trends. The Multi Kernel Regression Indicator is built upon kernel regression, a versatile statistical method pioneered by Emanuel Parzen in the 1960s and subsequently refined for financial market analysis. It provides a robust and flexible approach to capturing complex market data relationships. This indicator is more than just a charting tool; it reflects the power of computational trading methods, combining statistical robustness with visual versatility. It's an invaluable asset for traders, capturing and interpreting complex market trends while integrating seamlessly into diverse trading scenarios. In summary, the Multi Kernel Regression Indicator stands as a testament to kernel regression's historic legacy, modern computational power, and contemporary trading insight.
Indicador Pine Script®
por ChartPrime
92
Trend Correlation HeatmapHello everyone! I am excited to release my trend correlation heatmap, or trend heatmap for short. Per usual, I think its important to explain the theory before we get into the use of the indicator, so let's get into the theory! The theory: So what is a correlation? Correlation is the relationship one variable has to another. Correlations are the basis of everything I do as a quantitative trader. From the correlation between the same variables (i.e. autocorrelation), the correlation between other variables (i.e. VIX and SPY, SPY High and SPY Low, DXY and ES1! close, etc.) and, as well, the correlation between price and time (time series correlation). This may sound very familiar to you, especially if you are a user, observer or follower of my ideas and/or indicators. Ninety-five percent of my indicators are a function of one of those three things. Whether it be a time series based indicator (i.e.my time series indicator), whether it be autocorrelation (my autoregressive cloud indicator or my autocorrelation oscillator) or whether it be regressive in nature (i.e. my SPY Volume weighted close, or even my expected move which uses averages in lieu of regressive approaches but is foundational in regression principles. Or even my VIX oscillator which relies on the premise of correlations between tickers.) So correlation is extremely important to me and while its true I am more of a regression trader than anything, I would argue that I am more of a correlation trader, because correlations are the backbone of how I develop math models of stocks. What I am trying to stress here is the importance of correlations. They really truly are foundational to any type of quantitative analysis for stocks. And as such, understanding the current relationship a stock has to time is pivotal for any meaningful analysis to be conducted. So what is correlation to time and what does it tell us? Correlation to time, otherwise known and commonly referred to as "Time Series", is the relationship a ticker's price has to the passing of time. It is displayed in the traditional Pearson Correlation Coefficient or R value and can be any value from -1 (strong negative relationship, i.e. a strong downtrend) to + 1 (i.e. a strong positive relationship, i.e. a strong uptrend). The higher or lower the value the stronger the up or downtrend is. As such, correlation to time tells us two very important things. These are: a) The direction of the stock; and b) The strength of the trend. Let's take a look at an example: Above we have a chart of QQQ. We can see a trendline that seems to fit well. The questions we ask as traders are: 1. What is the likelihood QQQ breaks down from this trendline? 2. What is the likelihood QQQ continues up? 3. What is the likelihood QQQ does a false breakdown? There are numerous mathematical approaches we can take to answer these questions. For example, 1 and 2 can be answered by use of a Cumulative Distribution Density analysis (CDDA) or even a linear or loglinear regression analysis and 3 can be answered, more or less, with a linear regression analysis and standard error ascertainment, or even just a general comparison using a data science approach (such as cosine similarity or Manhattan distance). But, the reality is, all 3 of these questions can be visualized, at least in some way, by simply looking at the correlation to time. Let's look at this chart again, this time with the correlation heatmap applied: If we look at the indicator we can see some pivotal things. These are: 1. We have 4, very strong uptrends that span both higher AND lower timeframes. We have a strong uptrend of 0.96 on the 5 minute, 50 candle period. We have a strong uptrend at the 300 candle lookback period on the 1 minute, we have a strong uptrend on the 100 day lookback on the daily timeframe period and we have a strong uptrend on the 5 minute on the 500 candle lookback period. 2. By comparison, we have 3 downtrends, all of which have correlations less than the 4 uptrends. All of the downtrends have a correlation above -0.8 (which we would want lower than -0.8 to be very strong), and all of the uptrends are greater than + 0.80. 3. We can also see that the uptrends are not confined to the smaller timeframes. We have multiple uptrends on multiple timeframes and both short term (50 to 100 candles) and long term (up to 500 candles). 4. The overall trend is strengthening to the upside manifested by a positive Max Change and a Positive Min change (to be discussed later more in-depth). With this, we can see that QQQ is actually very strong and likely will continue at least some upside. If we let this play out: We continued up, had one test and then bounced. Now, I want to specify, this indicator is not a panacea for all trading. And in relation to the 3 questions posed, they are best answered, at least quantitatively, not only by correlation but also by the aforementioned methods (CDDA, etc.) but correlation will help you get a feel for the strength or weakness present with a stock. What are some tangible applications of the indicator? For me, this indicator is used in many ways. Let me outline some ways I generally apply this indicator in my day and swing trading: 1. Gauging the strength of the stock: The indictor tells you the most prevalent behavior of the stock. Are there more downtrends than uptrends present? Are the downtrends present on the larger timeframes vs uptrends on the shorter indicating a possible bullish reversal? or vice versa? Are the trends strengthening or weakening? All of these things can be visualized with the indicator. 2. Setting parameters for other indicators: If you trade EMAs or SMAs, you may have a "one size fits all" approach. However, its actually better to adjust your EMA or SMA length to the actual trend itself. Take a look at this: This is QQQ on the 1 hour with the 200 EMA with 200 standard deviation bands added. If we look at the heatmap, we can see, yes indeed 200 has a fairly strong uptrend correlation of 0.70. But the strongest hourly uptrend is actually at 400 candles, with a correlation of 0.91. So what happens if we change the EMA length and standard deviation to 400? This: The exact areas are circled and colour coded. You can see, the 400 offers more of a better reference point of supports and resistances as well as a better overall trend fit. And this is why I never advocate for getting married to a specific EMA. If you are an EMA 200 lover or 21 or 51, know that these are not always the best depending on the trend and situation. Components of the indicator: Ah okay, now for the boring stuff. Let's go over the functionality of the indicator. I tried to keep it simple, so it is pretty straight forward. If we open the menu here are our options: We have the ability to toggle whichever timeframes we want. We also have the ability to toggle on or off the legend that displays the colour codes and the Max and Min highest change. Max and Min highest change: The max and min highest change simply display the change in correlation over the previous 14 candles. An increasing Max change means that the Max trend is strengthening. If we see an increasing Max change and an increasing Min change (the Min correlation is moving up), this means the stock is bullish. Why? Because the min (i.e. ideally a big negative number) is going up closer to the positives. Therefore, the downtrend is weakening. If we see both the Max and Min declining (red), that means the uptrend is weakening and downtrend is strengthening. Here are some examples: Final Thoughts: And that is the indicator and the theory behind the indicator. In a nutshell, to summarize, the indicator simply tracks the correlation of a ticker to time on multiple timeframes. This will allow you to make judgements about strength, sentiment and also help you adjust which tools and timeframes you are using to perform your analyses. As well, to make the indicator more user friendly, I tried to make the colours distinctively different. I was going to do different shades but it was a little difficult to visualize. As such, I have included a toggle-able legend with a breakdown of the colour codes! That's it my friends, I hope you find it useful! Safe trades and leave your questions, comments and feedback below!
Indicador Pine Script®
por Steversteves
18
Swing Volume Profiles [LuxAlgo]The Swing Volume Profiles indicator aims to calculate and highlight trading activity at specific price levels between two swing points; allowing traders to reveal dominant and/or significant price levels based on volume. By measuring traded volume at all price levels in the market over a specified time period, the script can also be used to detect some key analysis generally such as supply & demand, buy-side & sell-side liquidity levels, unfilled liquidity voids, and imbalances that can highlight on the chart. 🔶 USAGE A volume profile is an advanced charting tool that displays the traded volume at different price levels over a specific period. It helps you visualize where the majority of trading activity has occurred. Key Levels are the areas where the volume is concentrated or where there are significant volume spikes. These levels are known as key support and resistance levels. High-volume nodes indicate areas of high activity and are likely to act as support or resistance in the future. Volume profile also helps identify value areas, which represent the price levels where the most trading activity has taken place. These levels can act as areas of support or resistance as traders perceive them as fair value. The Point of Control describes the price level where the most volume was traded. A Naked Point of Control (also called a Virgin Point of Control) is a previous POC that has not been traded. Extending PoC options 'Until Bar Cross' or 'Until Bar Touch' helps in identifying Naked Point of Control Lines. Previous PoC levels can serve as support and resistance for future price movements. Extending PoC Level 'Until Last Bar' option will help to identify such levels. 🔶 DETAILS One of the unique features of the script is its ability to detect some other key levels such as levels of acceptance and rejection. Levels of rejection we may summarize as supply and demand levels, these are also referred to as buy-side and sell-side liquidity levels. They usually occur at extreme highs or lows, where prices may be too high for buyers (high supply, low demand) or too low for sellers (low supply, high demand) Levels of acceptance are the levels where Liquidity Voids occur, these are also referred to imbalances. Liquidity voids are sudden changes in price when the price jumps from one level to another. The peculiar thing about liquidity voids is that they almost always fill up, so we call them levels of acceptance. 🔶 ALERTS When an alert is configured, the user will have the ability to be notified in case: Point Of Control Line is touched/crossed Value Area High Line is touched/crossed Value Area Low Line is touched/crossed 🔶 SETTINGS 🔹 Display Options Mode: Controls the lookback length of detection and visualization, where Present assumes last X bars specifid in '# Bars' option and Historical assumes all data available to the user as well as allowed limits of visiual objects (boxs, lines, labels etc) # Bars: Controls the lookback length. 🔹 Swing Volume Profiles The script takes into account user-defined parameters and plots volume profiles. Due to Pine Script™ drwaing objects limit only total volume profiles are presented. Swing Detection Length: Lookback period Swing Volume Profiles: Toggles the visibility of the Volume Profiles, with color options to differentiate the Value Area within a profile. Profile Range Background Fill: Toggles the visibility of the Volume Profiles Range 🔹 Point of Control (PoC) Point of Control (POC) – The price level for the time period with the highest traded volume Point of Control (PoC): Toggles the visibility of the Point of Control Developing PoC: Toggles the visibility of the Developing PoC Extend PoC: Option that allows detecting virgin PoC levels. Virgin Point of Control (VPoC) is defined as a Point of Control that has never been revisited or touched. The option also allows PoC levels to extend till the last bar aiming to present levels from history where the levels were traded significantly and those levels can be used as support and resistance levels. 🔹 Value Area (VA) Value Area (VA) – The range of price levels in which the specified percentage of all volume was traded during the time period. Value Area Volume %: Specifies percentage of the Value Area Value Area High (VAH): Toggles the visibility of the Value Area High, the highest price level within the Value Area Value Area Low (VAL): Toggles the visibility of the Value Area Low, the lowest price level within the Value Area Value Area (VA) Background Fill: Toggles the visibility of the Value Area Range 🔹 Liquidity Levels / Voids Unfilled Liquidity, Thresh: Enable display of the Unfilled Liquidity Levels and Liquidity Voids, where threshold value defines the significance of the level. 🔹 Profile Stats Position, Size: Specifies the position and the size of the label presenting Profile Stats, the tooltip of the label includes all related info for each profile. Price, Price Change, and Cumulative Volume: Enable display of the given options on the chart. 🔹 Volume Profile Others Number of Rows: Specify how many rows each histogram will have. Caution, having it set to high values will quickly hit Pine Script™ drawing objects limit and may cause fewer historical profiles to be displayed. Placement: Place profile either left or right. Profile Width %: Alters the width of the rows in the histogram, relative to the calculated profile length. 🔶 RELATED SCRIPTS Alternative Liquidity Void Detection script, Buyside-Sellside-Liquidity
Indicador Pine Script®
por LuxAlgo
35
5EMA BollingerBand Nifty Stock Scanner What ? We all heard about (well: over-heard) 5-EMA strategy. Which falls into the broader category of mean reversal type of trading setup. What is mean reversal? Price (or any time series, in fact) tries to follow a mean . Whenever price diverges from the mean it tries to meet it back. It is empirically observed by some traders (I honestly don't know who first time observed it) that in Indian context specially, 5 Exponential Moving Average (5-EMA) works pretty good as that mean. So whenever price moves away from that 5-EMA, it ultimately comes back and attain total nirvana :) Means: if price moved way higher than the 5EMA without touching it, then price will correct to meet it's 5-EMA and if price moved way lower, it will be uplifted to meet it's 5-EMA. Funny - but it works ! Now there are already enough social media coverage on this 5-EMA strategy/setup. Even TradingView has some excellent work done on these setups. Kudos to all those great souls. So when we came to know about this, we were thinking what we should do for the community. Because it is well cover topic (specially in Indian context). Also, there are public indicators. Then we thought why not come up with a scanner which will scan all the Nifty-50 constituent stocks and find out on the fly, real-time which all stocks are matching this 5-EMA setup and causing a Buy/Sell trade recommendation. Hence here we are with the first version of our first scanner on the 5EMA setup (well it has some more masala than merely a 5-EMA setup). Why? Parts of why is already covered up. Now instead of blindly following 5-EMA setup, we added the Bollinger band as well. Again: it's also not new. There are enough coverage in social media about the 5-EMA+BB strategy/setup. We mercilessly borrowed from all of these. Suppose you have an indicator. Now you apply the indicator in your chart. And then you need to (rock) and roll through your watchlist of Nifty-50 stocks (note: TradingView has no default watchlist of Nifty-50 stock by default - you have to create one custom watchlist to list all manually) to find out which all are matching the setup, need to take a note about the trade recomendations (entry, SL, target) and other stuffs like VWAP, Volume, volatility (Bollinger Band Width). Not any more. This scanner will track all the Nifty-50 stocks (technically: 40 stocks other than Banking stocks) and provide which one to Buy or Sell (if any), what's the entry, SL, target, where is the VWAP of the day, what's the picture in volume (high, low, rising, falling) and the implied volatility (using Bolling band width). Also it has a naive alerting mechanism as well. In fact the code is there to monitor the (Future) OI also and all the OI drama (OI vs price and all the 4 stuffs like long build up, long unwinding, short covering, short buildup). But unfortunately, due to some limitations of the TradingView (that one can not monitor more than 40 `ta.security` call) we have to comment out the code. If you wish you can monitor only 20 stocks and enable the OI monitoring also (20 for stocks + 20 for their OI monitoring .. total 40 `ta.security` call). How? To know the divergence from 5-EMA we just check if the high of the candle (on closing) is below the 5-EMA. Then we check if the closing is inside the Bollinger Band (BB). That's a Buy signal. SL: low of the candle, T: middle and higher BB. Just opposite for selling. 5-EMA low should be above 5-EMA and closing should be inside BB (lesser than BB higher level). That's a Sell signal. SL: high of the candle, T: middle and lower BB. Along with we compare the current bar's volume with the last-20 bar VWMA (volume weighted moving average) to determine if the volume is high or low. Present bar's volume is compared with the previous bar's volume to know if it's rising or falling. VWAP is also determined using `ta.vwap` built-in support of TradingView. The Bolling Band width is also notified, along with whether it is rising or falling (comparing with previous candle). Simple, but effective. Customization As usual the EMA setup (5 default), the BB setup (20 SMA with 1.5 standard deviation), we provided option wherther to include or exclude BB role in the 5-EMA setup (as we found out there are two schools of thought .. some people use BB some don't. Lets make all happy :)) We also provide options to choose other symbols using Settings if they wish so. We have the default 40 non banking Nifty stocks (why non-banking? - Bank Nifty is in ATH :) .. enough :)). But if user wishes can monitor others too (provided the symbol is there in TradingView). Although we strongly recommend the timeframe as 30 minutes , you can choose what's fit you most. The output of the scanner is a table. By default the table is placed in the right-bottom (as we are most comfortable with that). However you can change per your wish. We have the option to choose that. What is unique in it ? This is more of an indicator. This is a scanner (of Nifty-50 stocks). So you can apply (our recommendation is in 30m timeframe) it to any chart (does not matter which chart it is) and it will show every 30 mins (which is also configurable) which all stocks (along with trade levels) to Buy and Sell according to the setup. It will ease your trading activity. You can concentrate only on the execution, the filtering you can leave it to this one. Limitations There is a build in limitation of the TradingView platform is that one can call only upto 40 securities API. Not beyond that. So naturally we are constraint by that. Otherwise we could monitor 190 Nifty F&O stocks itself. 30m is the recommended timeframe. In very lower (say 5m) this script tends to go out of heap (out of memory). Please note that also. How to trade using this? Put any chart in 30m (recommended) timeframe. Apply this screener from Indicators (shortcut to launch indicators is just type / in your keyboard). This will provide the Buy (shown in green color) or Sell (shown in red color) recommendations in a table, at every 30m candle closing. Note the volume and BB width as well. Wait for at least 2 5-minutes candles to close above/below the recommended level . Take the trade with the SL and target mentioned. Mentions @QuantNomad. The whole implementation concept we mercilessly borrowed from him, even some of his code snippet we took it (after asking him through one of his videos comment section and seeking explicit permission which he readily granted within an hour). Thank You sir @QuantNomad. Indebted to you. Monika (Rawat) ji: for reviewing, correcting, providing real time examples during live market hours, often compromising her own trading activities, about the effectiveness and usefulness of this setup. Thank You madam ji. Indebted to you. There are innumerable contents in social media about this. Don't even know whom all we checked. Thanks to all of them. Happy Trading (in stocks - isn't enough of Indices already?) Disclaimer This piece of software does not come up with any warrantee or any rights of not changing it over the future course of time. We are not responsible for any trading/investment decision you are taking out of the outcome of this indicator.
Indicador Pine Script®
por pradipandsuvra
15
loggerLibrary "logger" ◼ Overview A dual logging library for developers. Tradingview lacks logging capability. This library provides logging while developing your scripts and is to be used by developers when developing and debugging their scripts. Using this library would potentially slow down you scripts. Hence, use this for debugging only. Once your code is as you would like it to be, remove the logging code. ◼︎ Usage (Console): Console = A sleek single cell logging with a limit of 4096 characters. When you dont need a large logging capability. //@version=5 indicator("demo.Console", overlay=true) plot(na) import GETpacman/logger/1 as logger var console = logger.log.new() console.init() // init() should be called as first line after variable declaration console.FrameColor:=color.green console.log('\n') console.log('\n') console.log('Hello World') console.log('\n') console.log('\n') console.ShowStatusBar:=true console.StatusBarAtBottom:=true console.FrameColor:=color.blue //settings can be changed anytime before show method is called. Even twice. The last call will set the final value console.ShowHeader:=false //this wont throw error but is not used for console console.show(position=position.bottom_right) //this should be the last line of your code, after all methods and settings have been dealt with. ◼︎ Usage (Logx): Logx = Multiple columns logging with a limit of 4096 characters each message. When you need to log large number of messages. //@version=5 indicator("demo.Logx", overlay=true) plot(na) import GETpacman/logger/1 as logger var logx = logger.log.new() logx.init() // init() should be called as first line after variable declaration logx.FrameColor:=color.green logx.log('\n') logx.log('\n') logx.log('Hello World') logx.log('\n') logx.log('\n') logx.ShowStatusBar:=true logx.StatusBarAtBottom:=true logx.ShowQ3:=false logx.ShowQ4:=false logx.ShowQ5:=false logx.ShowQ6:=false logx.FrameColor:=color.olive //settings can be changed anytime before show method is called. Even twice. The last call will set the final value logx.show(position=position.top_right) //this should be the last line of your code, after all methods and settings have been dealt with. ◼︎ Fields (with default settings)   ▶︎ IsConsole         = True  Log will act as Console if true, otherwise it will act as Logx      ▶︎ ShowHeader        = True  (Log only) Will show a header at top or bottom of logx.   ▶︎ HeaderAtTop        = True  (Log only) Will show the header at the top, or bottom if false, if ShowHeader is true.   ▶︎ ShowStatusBar       = True  Will show a status bar at the bottom   ▶︎ StatusBarAtBottom     = True  Will show the status bar at the bottom, or top if false, if ShowHeader is true.   ▶︎ ShowMetaStatus      = True  Will show the meta info within status bar (Current Bar, characters left in console, Paging On Every Bar, Console dumped data etc)      ▶︎ ShowBarIndex       = True  Logx will show column for Bar Index when the message was logged. Console will add Bar index at the front of logged messages   ▶︎ ShowDateTime       = True  Logx will show column for Date/Time passed with the logged message logged. Console will add Date/Time at the front of logged messages   ▶︎ ShowLogLevels       = True  Logx will show column for Log levels corresponding to error codes. Console will log levels in the status bar   ▶︎ ReplaceWithErrorCodes   = True  (Log only) Logx will show error codes instead of log levels, if ShowLogLevels is switched on   ▶︎ RestrictLevelsToKey7    = True  Log levels will be restricted to Ley 7 codes - TRACE, DEBUG, INFO, WARNING, ERROR, CRITICAL, FATAL   ▶︎ ShowQ1          = True  (Log only) Show the column for Q1   ▶︎ ShowQ2          = True  (Log only) Show the column for Q2   ▶︎ ShowQ3          = True  (Log only) Show the column for Q3   ▶︎ ShowQ4          = True  (Log only) Show the column for Q4   ▶︎ ShowQ5          = True  (Log only) Show the column for Q5   ▶︎ ShowQ6          = True  (Log only) Show the column for Q6      ▶︎ ColorText         = True  Log/Console will color text as per error codes   ▶︎ HighlightText        = True  Log/Console will highlight text (like denoting) as per error codes      ▶︎ AutoMerge        = True  (Log only) Merge the queues towards the right if there is no data in those queues.   ▶︎ PageOnEveryBar      = True  Clear data from previous bars on each new bar, in conjuction with PageHistory setting.   ▶︎ MoveLogUp        = True  Move log in up direction. Setting to false will push logs down.   ▶︎ MarkNewBar       = True  On each change of bar, add a marker to show the bar has changed   ▶︎ PrefixLogLevel      = True  (Console only) Prefix all messages with the log level corresponding to error code.   ▶︎ MinWidth   = 40  Set the minimum width needed to be seen. Prevents logx/console shrinking below these number of characters.   ▶︎ TabSizeQ1      = 0   If set to more than one, the messages on Q1 or Console messages will indent by this size based on error code (Max 4 used)   ▶︎ TabSizeQ2      = 0   If set to more than one, the messages on Q2 will indent by this size based on error code (Max 4 used)   ▶︎ TabSizeQ3     = 0   If set to more than one, the messages on Q2 will indent by this size based on error code (Max 4 used)   ▶︎ TabSizeQ4     = 0   If set to more than one, the messages on Q2 will indent by this size based on error code (Max 4 used)   ▶︎ TabSizeQ5     = 0   If set to more than one, the messages on Q2 will indent by this size based on error code (Max 4 used)   ▶︎ TabSizeQ6     = 0   If set to more than one, the messages on Q2 will indent by this size based on error code (Max 4 used)   ▶︎ PageHistory     = 0   Used with PageOnEveryBar. Determines how many historial pages to keep.      ▶︎ HeaderQbarIndex    = 'Bar#'  (Logx only) The header to show for Bar Index   ▶︎ HeaderQdateTime    = 'Date'  (Logx only) The header to show for Date/Time   ▶︎ HeaderQerrorCode   = 'eCode'  (Logx only) The header to show for Error Codes   ▶︎ HeaderQlogLevel    = 'State'  (Logx only) The header to show for Log Level   ▶︎ HeaderQ1       = 'h.Q1'   (Logx only) The header to show for Q1   ▶︎ HeaderQ2       = 'h.Q2'   (Logx only) The header to show for Q2   ▶︎ HeaderQ3       = 'h.Q3'   (Logx only) The header to show for Q3   ▶︎ HeaderQ4       = 'h.Q4'   (Logx only) The header to show for Q4   ▶︎ HeaderQ5       = 'h.Q5'   (Logx only) The header to show for Q5   ▶︎ HeaderQ6       = 'h.Q6'   (Logx only) The header to show for Q6   ▶︎ Status         = ''     Set the status to this text.   ▶︎ HeaderColor            Set the color for the header        ▶︎ HeaderColorBG           Set the background color for the header   ▶︎ StatusColor             Set the color for the status bar   ▶︎ StatusColorBG           Set the background color for the status bar   ▶︎ TextColor              Set the color for the text used without error code or code 0.   ▶︎ TextColorBG            Set the background color for the text used without error code or code 0.   ▶︎ FrameColor             Set the color for the frame around Logx/Console   ▶︎ FrameSize       = 1    Set the size of the frame around Logx/Console   ▶︎ CellBorderSize     = 0    Set the size of the border around cells.   ▶︎ CellBorderColor          Set the color for the border around cells within Logx/Console   ▶︎ SeparatorColor         = gray Set the color of separate in between Console/Logx Attachment    ◼︎ Methods (summary)   ● init               ▶︎ Initialise the log   ● log               ▶︎ Log the messages. Use method show to display the messages   ● page              ▶︎ Clear messages from previous bar while logging messages on this bar.   ● show              ▶︎ Shows a table displaying the logged messages   ● clear              ▶︎ Clears the log of all messages   ● resize              ▶︎ Resizes the log. If size is for reduction then oldest messages are lost first.   ● turnPage            ▶︎ When called, all messages marked with previous page, or from start are cleared   ● dateTimeFormat         ▶︎ Sets the date time format to be used when displaying date/time info.   ● resetTextColor          ▶︎ Reset Text Color to library default   ● resetTextBGcolor         ▶︎ Reset Text BG Color to library default   ● resetHeaderColor        ▶︎ Reset Header Color to library default   ● resetHeaderBGcolor       ▶︎ Reset Header BG Color to library default   ● resetStatusColor         ▶︎ Reset Status Color to library default   ● resetStatusBGcolor        ▶︎ Reset Status BG Color to library default   ● setColors            ▶︎ Sets the colors to be used for corresponding error codes   ● setColorsBG           ▶︎ Sets the background colors to be used for corresponding error codes. If not match of error code, then text color used.   ● setColorsHC           ▶︎ Sets the highlight colors to be used for corresponding error codes.If not match of error code, then text bg color used.   ● resetColors           ▶︎ Reset the colors to library default (Total 36, not including error code 0)   ● resetColorsBG          ▶︎ Reset the background colors to library default   ● resetColorsHC          ▶︎ Reset the highlight colors to library default   ● setLevelNames          ▶︎ Set the log level names to be used for corresponding error codes. If not match of error code, then empty string used.   ● resetLevelNames         ▶︎ Reset the log level names to library default. (Total 36) 1=TRACE, 2=DEBUG, 3=INFO, 4=WARNING, 5=ERROR, 6=CRITICAL, 7=FATAL   ● attach              ▶︎ Attaches a console to an existing Logx, allowing to have dual logging system independent of each other   ● detach              ▶︎ Detaches an already attached console from Logx method clear(this)   Clears all the queue, including bar_index and time queues, of existing messages   Namespace types: log   Parameters:      this (log) method resize(this, rows)   Resizes the message queues. If size is decreased then removes the oldest messages   Namespace types: log   Parameters:      this (log)      rows (int) : The new size needed for the queues. Default value is 40. method dateTimeFormat(this, format)   Re/set the date time format used for displaying date and time. Default resets to dd.MMM.yy HH:mm   Namespace types: log   Parameters:      this (log)      format (string) method resetTextColor(this)   Resets the text color of the log to library default.   Namespace types: log   Parameters:      this (log) method resetTextColorBG(this)   Resets the background color of the log to library default.   Namespace types: log   Parameters:      this (log) method resetHeaderColor(this)   Resets the color used for Headers, to library default.   Namespace types: log   Parameters:      this (log) method resetHeaderColorBG(this)   Resets the background color used for Headers, to library default.   Namespace types: log   Parameters:      this (log) method resetStatusColor(this)   Resets the text color of the status row, to library default.   Namespace types: log   Parameters:      this (log) method resetStatusColorBG(this)   Resets the background color of the status row, to library default.   Namespace types: log   Parameters:      this (log) method resetFrameColor(this)   Resets the color used for the frame around the log table, to library default.   Namespace types: log   Parameters:      this (log) method resetColorsHC(this)   Resets the color used for the highlighting when Highlight Text option is used, to library default   Namespace types: log   Parameters:      this (log) method resetColorsBG(this)   Resets the background color used for setting the background color, when the Color Text option is used, to library default   Namespace types: log   Parameters:      this (log) method resetColors(this)   Resets the color used for respective error codes, when the Color Text option is used, to library default   Namespace types: log   Parameters:      this (log) method setColors(this, c)   Sets the colors corresponding to error codes   Index 0 of input array c is color is reserved for future use.   Index 1 of input array c is color for debug code 1.   Index 2 of input array c is color for debug code 2.   There are 2 modes of coloring     1 . Using the Foreground color     2 . Using the Foreground color as background color and a white/black/gray color as foreground color     This is denoting or highlighting. Which effectively puts the foreground color as background color   Namespace types: log   Parameters:      this (log)      c (color ) : Array of colors to be used for corresponding error codes. If the corresponding code is not found, then text color is used method setColorsHC(this, c)   Sets the highlight colors corresponding to error codes   Index 0 of input array c is color is reserved for future use.   Index 1 of input array c is color for debug code 1.   Index 2 of input array c is color for debug code 2.   There are 2 modes of coloring     1 . Using the Foreground color     2 . Using the Foreground color as background color and a white/black/gray color as foreground color     This is denoting or highlighting. Which effectively puts the foreground color as background color   Namespace types: log   Parameters:      this (log)      c (color ) : Array of highlight colors to be used for corresponding error codes. If the corresponding code is not found, then text color BG is used method setColorsBG(this, c)   Sets the highlight colors corresponding to debug codes   Index 0 of input array c is color is reserved for future use.   Index 1 of input array c is color for debug code 1.   Index 2 of input array c is color for debug code 2.   There are 2 modes of coloring     1 . Using the Foreground color     2 . Using the Foreground color as background color and a white/black/gray color as foreground color     This is denoting or highlighting. Which effectively puts the foreground color as background color   Namespace types: log   Parameters:      this (log)      c (color ) : Array of background colors to be used for corresponding error codes. If the corresponding code is not found, then text color BG is used method resetLevelNames(this, prefix, suffix)   Resets the log level names used for corresponding error codes   With prefix/suffix, the default Level name will be like => prefix + Code + suffix   Namespace types: log   Parameters:      this (log)      prefix (string) : Prefix to use when resetting level names      suffix (string) : Suffix to use when resetting level names method setLevelNames(this, names)   Resets the log level names used for corresponding error codes   Index 0 of input array names is reserved for future use.   Index 1 of input array names is name used for error code 1.   Index 2 of input array names is name used for error code 2.   Namespace types: log   Parameters:      this (log)      names (string ) : Array of log level names be used for corresponding error codes. If the corresponding code is not found, then an empty string is used method init(this, rows, isConsole)   Sets up data for logging. It consists of 6 separate message queues, and 3 additional queues for bar index, time and log level/error code. Do not directly alter the contents, as library could break.   Namespace types: log   Parameters:      this (log)      rows (int) : Log size, excluding the header/status. Default value is 50.      isConsole (bool) : Whether to init the log as console or logx. True= as console, False = as Logx. Default is true, hence init as console. method log(this, ec, m1, m2, m3, m4, m5, m6, tv, log)   Logs messages to the queues , including, time/date, bar_index, and error code   Namespace types: log   Parameters:      this (log)      ec (int) : Error/Code to be assigned.      m1 (string) : Message needed to be logged to Q1, or for console.      m2 (string) : Message needed to be logged to Q2. Not used/ignored when in console mode      m3 (string) : Message needed to be logged to Q3. Not used/ignored when in console mode      m4 (string) : Message needed to be logged to Q4. Not used/ignored when in console mode      m5 (string) : Message needed to be logged to Q5. Not used/ignored when in console mode      m6 (string) : Message needed to be logged to Q6. Not used/ignored when in console mode      tv (int) : Time to be used. Default value is time, which logs the start time of bar.      log (bool) : Whether to log the message or not. Default is true. method page(this, ec, m1, m2, m3, m4, m5, m6, tv, page)   Logs messages to the queues , including, time/date, bar_index, and error code. All messages from previous bars are cleared   Namespace types: log   Parameters:      this (log)      ec (int) : Error/Code to be assigned.      m1 (string) : Message needed to be logged to Q1, or for console.      m2 (string) : Message needed to be logged to Q2. Not used/ignored when in console mode      m3 (string) : Message needed to be logged to Q3. Not used/ignored when in console mode      m4 (string) : Message needed to be logged to Q4. Not used/ignored when in console mode      m5 (string) : Message needed to be logged to Q5. Not used/ignored when in console mode      m6 (string) : Message needed to be logged to Q6. Not used/ignored when in console mode      tv (int) : Time to be used. Default value is time, which logs the start time of bar.      page (bool) : Whether to log the message or not. Default is true. method turnPage(this, turn)   Set the messages to be on a new page, clearing messages from previous page.   This is not dependent on PageHisotry option, as this method simply just clears all the messages, like turning old pages to a new page.   Namespace types: log   Parameters:      this (log)      turn (bool) method show(this, position, hhalign, hvalign, hsize, thalign, tvalign, tsize, show, attach)   Display Message Q, Index Q, Time Q, and Log Levels   All options for postion/alignment accept TV values, such as position.bottom_right, text.align_left, size.auto etc.   Namespace types: log   Parameters:      this (log)      position (string) : Position of the table used for displaying the messages. Default is Bottom Right.      hhalign (string) : Horizontal alignment of Header columns      hvalign (string) : Vertical alignment of Header columns      hsize (string) : Size of Header text Options      thalign (string) : Horizontal alignment of all messages      tvalign (string) : Vertical alignment of all messages      tsize (string) : Size of text across the table      show (bool) : Whether to display the logs or not. Default is true.      attach (log) : Console that has been attached via attach method. If na then console will not be shown method attach(this, attach, position)   Attaches a console to Logx, or moves already attached console around Logx   All options for position/alignment accept TV values, such as position.bottom_right, text.align_left, size.auto etc.   Namespace types: log   Parameters:      this (log)      attach (log) : Console object that has been previously attached.      position (string) : Position of Console in relation to Logx. Can be Top, Right, Bottom, Left. Default is Bottom. If unknown specified then defaults to bottom. method detach(this, attach)   Detaches the attached console from Logx.   All options for position/alignment accept TV values, such as position.bottom_right, text.align_left, size.auto etc.   Namespace types: log   Parameters:      this (log)      attach (log) : Console object that has been previously attached.
Biblioteca Pine Script®
por GETpacman
Daily Gaps & Trapped PositionsThis script builds substantially upon the default Gaps script provided by Tradingview. Functionality was added to allow users to decide what price from the previous session is used to determine a daily gap, added support for showing gaps across all timeframes up to the daily time frame, and also allow gaps to be shown even with ETH enabled on the chart. This script provides support across normal securities, futures, and also crypto. Users can decide between the following selections to determine if a daily gap has formed: - Previous Session Close - Previous Session High/Low - Last RTH Candle High/Low The other larger piece that was added is something called trapped positions or what some folks familiar with Market Profile would call "single prints". They could also be considered FVGs but they are a specific subset of FVGs as these must from above or below the current session's high/low. Single prints form above or below a current session's high/low and can be considered an area where price has moved too fast in that area and price will most likely return to these areas at a later point in time. In some teachings, these are also looked at as "trapped shorts" (lighter blue box color) or "trapped supply" (yellow orange box color) which creates an area where there will be potential support (trapped shorts) or resistance (trapped supply) when this area is revisited in the future. Adding these to your chart will simply provide additional areas of interest where you may see buying or selling. Both gaps and trapped positions have the following options: - Show only active gaps/trapped positions. Selecting this will only show areas where price has not completely traded through the box. - Close gaps/trapped positions partially. If this is selected, it will reduce the box size as price is traded through the area. If it is not selected, the box will only disappear once price has traded through the entire box completely. There are some additional settings that allow you to tailor how many boxes show up on the chart. These settings are as follows: - Max number of boxes. This setting will only plot up to this number of gaps/trapped positions. - Minimum Deviation. This will prevent gaps/trapped positions from showing if they are too small relative to average across that last 14 periods. - Limit Max Box Trail Length (bars). If checkbox is selected, the box will stop being extended after X number of bars given in this input.
Indicador Pine Script®
por mcthatsme
4
Multi Time Frame Normalized PriceEnhance Your Trading Experience with the Multi Time Frame Normalized Price Indicator Introduction As a trader, having a clear and informative chart is crucial for making informed decisions. In this post, we will introduce the Multi Time Frame Normalized Price (MTFNP) Indicator, an innovative trading tool that offers an insightful perspective on price action. The script creates a symmetric chart, with the time axis going from top to bottom, making it easier to identify potential tops and bottoms in various ranges. Let's dive deeper into this powerful tool to understand how it works and how it can improve your trading experience. The Multi Time Frame Normalized Price Indicator The MTFNP Indicator is designed to provide a comprehensive view of price action across multiple time frames. By plotting the normalized price levels for each time frame, traders can easily identify areas of support and resistance, as well as potential tops and bottoms in various ranges. One of the key features of this indicator is the symmetry of the chart. Instead of the traditional horizontal time axis, the MTFNP Indicator plots the time axis vertically from top to bottom. This innovative approach makes it easier for traders to visualize the price action across different time frames, enabling them to make more informed decisions. Benefits of a Symmetric Chart There are several advantages to using a symmetric chart with a vertical time axis, such as: Easier to read: The unique layout of the chart makes it easier to analyze price action across multiple time frames. The clear separation between each time frame helps traders avoid confusion and identify important price levels more effectively. Identifying tops and bottoms: The symmetric presentation of price action enables traders to quickly spot potential tops and bottoms in various ranges. This can be particularly useful for identifying potential reversal points or areas of support and resistance. Improved decision-making: By offering a comprehensive view of price action, the MTFNP Indicator helps traders make better-informed decisions. This can lead to improved trading strategies and ultimately, better results. The MTFNP Indicator Script The MTFNP Indicator script leverages several custom functions, including the Chebyshev Type I Moving Average, to provide a smooth and responsive signal. Additionally, the indicator uses the Spider Plot function to create a symmetric chart with the time axis going from top to bottom. To customize the MTFNP Indicator to your preferences, you can adjust the input parameters, such as the standard deviation length, multiplier, axes color, bottom color, and top color. You can also change the scale to fit your desired chart size. Exploring the Relationship between Min, Max Values and Time Frames In the Multi Time Frame Normalized Price (MTFNP) script, it is crucial to understand the relationship between the min and max values across different time frames. By analyzing how these values relate to each other, traders can make more informed decisions about market trends and potential reversals. In this section, we will dive deep into the relationship between the current time frame's min and max values and those of the further-out time frames. Interpreting Min and Max Values Across Time Frames When analyzing the min and max values of the current time frame in relation to the further-out time frames, it is essential to keep in mind the following points: All min values: If the current time frame and all further-out time frames have min values, this is a strong indication that the current price level is not just a local minimum. Instead, it is likely a more significant support level. In such cases, there is a higher probability that the price will bounce back upwards, making it a potentially favorable entry point for a long position. All max values: Conversely, if the current time frame and all further-out time frames have max values, this suggests that the current price level is not just a local maximum. Instead, it is likely a more significant resistance level. In these situations, there is a higher probability that the price will reverse downwards, making it a potentially favorable entry point for a short position. Neutral values with high current time frame: If the current time frame has a high value while the further-out time frames are more neutral, it could indicate that the trend may continue. This is because the high value in the current time frame may signify momentum in the market, whereas the neutral values in the further-out time frames suggest that the trend has not yet reached an extreme level. In this case, traders might consider following the trend and entering a position in the direction of the current movement. Neutral values with low current time frame: If the current time frame has a low value while the further-out time frames are more neutral, it could indicate that the trend may reverse. This is because the low value in the current time frame may suggest a potential reversal point, whereas the neutral values in the further-out time frames imply that the trend has not yet reached an extreme level. In this case, traders might consider entering a counter-trend position, anticipating a potential reversal. Balancing Different Time Frames for Optimal Decision Making It is essential to remember that relying solely on min and max values across different time frames can lead to potential pitfalls. The market is influenced by a wide array of factors, and no single indicator or data point can provide a complete picture. To make the most informed decisions, traders should consider incorporating additional technical analysis tools and evaluating the overall market context. Moreover, it is crucial to maintain a balance between the current time frame and the further-out time frames. While the current time frame provides information about the most recent market movements, the further-out time frames offer a broader perspective on the market's historical behavior. By combining insights from both types of time frames, traders can make more comprehensive assessments of potential opportunities and risks. Conclusion In conclusion, the Multi Time Frame Normalized Price (MTFNP) script offers traders valuable insights by analyzing the relationship between the current time frame and further-out time frames. By identifying potential trend reversals and continuations, traders can make better-informed decisions about market entry and exit points. Understanding the relationship between min and max values across different time frames is an essential component of using the MTFNP script effectively. By carefully analyzing these relationships and incorporating additional technical analysis tools, traders can improve their decision-making process and enhance their overall trading strategy. However, it is important to remember that relying solely on the MTFNP script or any single indicator can lead to potential pitfalls. The market is influenced by a wide array of factors, and no single indicator or data point can provide a complete picture. To make the most informed decisions, traders should consider using a combination of technical analysis tools, evaluating the overall market context, and maintaining a balance between the current time frame and the further-out time frames for a comprehensive understanding of the market's behavior. By doing so, they can increase their chances of success in the ever-changing and complex world of trading.
Indicador Pine Script®
por The_Peaceful_Lizard
Volume-based Support & Resistance Zones-V1 By Trade Mastership™ The all-new Support & Resistance Zones indicator, which has been upgraded to offer traders more powerful features and functionality. This innovative indicator identifies high-volume fractal lows or highs to create zones based on the size of the wick for that timeframe's candle. This makes it easy for traders to visualize which price levels are the most significant for either a trend continuation or a reversal when zones are broken and retested. The original script for this indicator was created by Trade Mastership, with additional modifications by L N Behera. Credit goes to both of them for the majority of the logic behind this script. Since then, the script has been improved with several changes, including: Changing the default S/R lines from plots to lines, and giving users the option to change between solid, dashed, or dotted lines for both S/R lines Adding additional timeframes and more options for TF1, beyond the current TF. Now, users have four timeframes to plot S/R zones from Giving users the option to easily change the line thickness for all S/R lines Making it easier to change the colors of S/R lines and zones by consolidating the options under settings (rather than under style) Adding extensions to active SR Zones to extend all the way right Adding the option to extend or not extend the previous S/R zones up to the next S/R zone Adding optional timeframe labels to active S/R zones, with left and right options, as well as the option to adjust how far to the right the label is set Fixing an issue where the higher timeframe S/R zone was not properly starting from the high/low of fractal. Now, any higher timeframe S/R will begin exactly at the High/Low points. Note that this may not work perfectly on stocks, and if a fractal high/low is too many bars in the past, it will revert to a default max bars back to avoid script errors. Adding a function to prevent S/R zones from lower timeframes displaying while on a higher timeframe. This helps clean up the chart quite a bit. Creating arrays for each timeframe's boxes and lines so that the number of S/R zones can be controlled for each timeframe and limit memory consumption. Adding new alert options and customized alert messages Here's how this indicator works: it looks for fractal highs or fractal lows with volume that pierces above the volume's Moving Average. This moving average value can be modified in the settings for each timeframe. The fractal highs will be confirmed with three successive higher highs followed by two successive lower highs and vice versa for the fractal lows. The zone is created from the fractal high/low and the close of the candle for whatever timeframe you selected. The bigger the zone, the more significant that zone is. Traders can disable any zone, change the zones to show lines only, and modify all the colors, transparencies, and thickness of lines for all the zones. To create alerts, traders can enable the types of alerts they want for each timeframe in the indicator's settings. After applying changes, right-click on one of the zones on the chart, and click "Add Alert on Vol S/R Zones." You do not need to add a title, as the correct alert messages are already built-in. The latest update has migrated the script to Pine Script Version 5 and added a higher number of total boxes/lines to show on the chart. It has also increased the max bars count to the maximum Pine Script allows, enabling traders to utilize as many bars as possible when drawing the left side of SR zones that are very far back on the chart. Additionally, the update fixed issues where the indicator would not load on 1 minute and 3-minute charts unless higher timeframe SR zones
Indicador Pine Script®
por tradexcelacademy
1
Bearish 5-0 Harmonic Patterns [theEccentricTrader]█   OVERVIEW This indicator automatically draws bearish 5-0 harmonic patterns and price projections derived from the ranges that constitute the patterns. █   CONCEPTS Green and Red Candles • A green candle is one that closes with a close price equal to or above the price it opened. • A red candle is one that closes with a close price that is lower than the price it opened. Swing Highs and Swing Lows • A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak. • A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough. Peak and Trough Prices (Basic) • The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher. • The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower. Historic Peaks and Troughs The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one. Range The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips. Support and Resistance • Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further. • Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further. Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down. It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction. Upper Trends • A return line uptrend is formed when the current peak price is higher than the preceding peak price. • A downtrend is formed when the current peak price is lower than the preceding peak price. • A double-top is formed when the current peak price is equal to the preceding peak price. Lower Trends • An uptrend is formed when the current trough price is higher than the preceding trough price. • A return line downtrend is formed when the current trough price is lower than the preceding trough price. • A double-bottom is formed when the current trough price is equal to the preceding trough price. Muti-Part Upper and Lower Trends • A multi-part return line uptrend begins with the formation of a new return line uptrend, or higher peak, and continues until a new downtrend, or lower peak, completes the trend. • A multi-part downtrend begins with the formation of a new downtrend, or lower peak, and continues until a new return line uptrend, or higher peak, completes the trend. • A multi-part uptrend begins with the formation of a new uptrend, or higher trough, and continues until a new return line downtrend, or lower trough, completes the trend. • A multi-part return line downtrend begins with the formation of a new return line downtrend, or lower trough, and continues until a new uptrend, or higher trough, completes the trend. Wave Cycles A wave cycle is here defined as a complete two-part move between a swing high and a swing low, or a swing low and a swing high. The first swing high or swing low will set the course for the sequence of wave cycles that follow; for example a chart that begins with a swing low will form its first complete wave cycle upon the formation of the first complete swing high and vice versa. Figure 1. Fibonacci Retracement and Extension Ratios The Fibonacci sequence is a series of numbers in which each number is the sum of the two preceding numbers, starting with 0 and 1. For example 0 + 1 = 1, 1 + 1 = 2, 1 + 2 = 3, and so on. Ultimately, we could go on forever but the first few numbers in the sequence are as follows: 0 , 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144. The extension ratios are calculated by dividing each number in the sequence by the number preceding it. For example 0/1 = 0, 1/1 = 1, 2/1 = 2, 3/2 = 1.5, 5/3 = 1.6666..., 8/5 = 1.6, 13/8 = 1.625, 21/13 = 1.6153..., 34/21 = 1.6190..., 55/34 = 1.6176..., 89/55 = 1.6181..., 144/89 = 1.6179..., and so on. The retracement ratios are calculated by inverting this process and dividing each number in the sequence by the number proceeding it. For example 0/1 = 0, 1/1 = 1, 1/2 = 0.5, 2/3 = 0.666..., 3/5 = 0.6, 5/8 = 0.625, 8/13 = 0.6153..., 13/21 = 0.6190..., 21/34 = 0.6176..., 34/55 = 0.6181..., 55/89 = 0.6179..., 89/144 = 0.6180..., and so on. 1.618 is considered to be the 'golden ratio', found in many natural phenomena such as the growth of seashells and the branching of trees. Some now speculate the universe oscillates at a frequency of 0,618 Hz, which could help to explain such phenomena, but this theory has yet to be proven. Traders and analysts use Fibonacci retracement and extension indicators, consisting of horizontal lines representing different Fibonacci ratios, for identifying potential levels of support and resistance. Fibonacci ranges are typically drawn from left to right, with retracement levels representing ratios inside of the current range and extension levels representing ratios extended outside of the current range. If the current wave cycle ends on a swing low, the Fibonacci range is drawn from peak to trough. If the current wave cycle ends on a swing high the Fibonacci range is drawn from trough to peak. Harmonic Patterns The concept of harmonic patterns in trading was first introduced by H.M. Gartley in his book "Profits in the Stock Market", published in 1935. Gartley observed that markets have a tendency to move in repetitive patterns, and he identified several specific patterns that he believed could be used to predict future price movements. Since then, many other traders and analysts have built upon Gartley's work and developed their own variations of harmonic patterns. One such contributor is Larry Pesavento, who developed his own methods for measuring harmonic patterns using Fibonacci ratios. Pesavento has written several books on the subject of harmonic patterns and Fibonacci ratios in trading. Another notable contributor to harmonic patterns is Scott Carney, who developed his own approach to harmonic trading in the late 1990s and also popularised the use of Fibonacci ratios to measure harmonic patterns. Carney expanded on Gartley's work and also introduced several new harmonic patterns, such as the Shark pattern and the 5-0 pattern. The bullish and bearish Gartley patterns are the oldest recognized harmonic patterns in trading and all the other harmonic patterns are ultimately modifications of the original Gartley patterns. Gartley patterns are fundamentally composed of 5 points, or 4 waves. Bullish and Bearish 5-0 Patterns • Bullish 5-0 patterns are fundamentally composed of three peaks and three troughs, with the second peak being lower than the first peak and the third peak being higher than the first peak. And similarly, the second trough being lower than the first trough and the third trough being higher than both the first and second troughs. • Bearish 5-0 patterns are fundamentally composed of three troughs and three peaks, with the second trough being higher than the first trough and the third trough being lower than the first trough. And similarly, the second peak being higher than the first peak and the third peak being lower than both the first and second peaks. The ratio measurements recommended by Scott Carney, who originated the pattern, are as follows: • Wave 1 of the pattern, referred to as OX, has no specific ratio requirements. • Wave 2 of the pattern, referred to as XA, has no specific ratio requirements. • Wave 3 of the pattern, referred to as AB, should extend to at least 113%, but no further than 161.8% of the range set by wave 2. • Wave 4 of the pattern, referred to as BC, should extend to at least 161.8%, but no further than 224% of the range set by wave 3. • Wave 5 of the pattern, referred to as CD, should retrace to 50.0% of the range set by wave 4. Measurement Tolerances In general, tolerance in measurements refers to the allowable variation or deviation from a specific value or dimension. It is the range within which a particular measurement is considered to be acceptable or accurate. In this script I have applied this concept to the measurement of harmonic pattern ratios to increase to the frequency of pattern occurrences. For example, the AB measurement of Gartley patterns is generally set at around 61.8%, but with such specificity in the measuring requirements the patterns are very rare. We can increase the frequency of pattern occurrences by setting a tolerance. A tolerance of 10% to both downside and upside, which is the default setting for all tolerances, means we would have a tolerable measurement range between 51.8-71.8%, thus increasing the frequency of occurrence. █   FEATURES Inputs • AB Lower Tolerance • AB Upper Tolerance • BC Lower Tolerance • BC Upper Tolerance • CD Lower Tolerance • CD Upper Tolerance • Pattern Color • Label Color • Show Projections • Extend Current Projection Lines █   LIMITATIONS All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with. █   NOTES Here is a link to Scott's harmonic patterns webpage for those who may be interested: harmonictrader.com
Indicador Pine Script®
por theEccentricTrader
Bullish 5-0 Harmonic Patterns [theEccentricTrader]█   OVERVIEW This indicator automatically draws bullish 5-0 harmonic patterns and price projections derived from the ranges that constitute the patterns. █   CONCEPTS Green and Red Candles • A green candle is one that closes with a close price equal to or above the price it opened. • A red candle is one that closes with a close price that is lower than the price it opened. Swing Highs and Swing Lows • A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak. • A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough. Peak and Trough Prices (Basic) • The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher. • The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower. Historic Peaks and Troughs The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one. Range The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips. Support and Resistance • Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further. • Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further. Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down. It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction. Upper Trends • A return line uptrend is formed when the current peak price is higher than the preceding peak price. • A downtrend is formed when the current peak price is lower than the preceding peak price. • A double-top is formed when the current peak price is equal to the preceding peak price. Lower Trends • An uptrend is formed when the current trough price is higher than the preceding trough price. • A return line downtrend is formed when the current trough price is lower than the preceding trough price. • A double-bottom is formed when the current trough price is equal to the preceding trough price. Muti-Part Upper and Lower Trends • A multi-part return line uptrend begins with the formation of a new return line uptrend, or higher peak, and continues until a new downtrend, or lower peak, completes the trend. • A multi-part downtrend begins with the formation of a new downtrend, or lower peak, and continues until a new return line uptrend, or higher peak, completes the trend. • A multi-part uptrend begins with the formation of a new uptrend, or higher trough, and continues until a new return line downtrend, or lower trough, completes the trend. • A multi-part return line downtrend begins with the formation of a new return line downtrend, or lower trough, and continues until a new uptrend, or higher trough, completes the trend. Wave Cycles A wave cycle is here defined as a complete two-part move between a swing high and a swing low, or a swing low and a swing high. The first swing high or swing low will set the course for the sequence of wave cycles that follow; for example a chart that begins with a swing low will form its first complete wave cycle upon the formation of the first complete swing high and vice versa. Figure 1. Fibonacci Retracement and Extension Ratios The Fibonacci sequence is a series of numbers in which each number is the sum of the two preceding numbers, starting with 0 and 1. For example 0 + 1 = 1, 1 + 1 = 2, 1 + 2 = 3, and so on. Ultimately, we could go on forever but the first few numbers in the sequence are as follows: 0 , 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144. The extension ratios are calculated by dividing each number in the sequence by the number preceding it. For example 0/1 = 0, 1/1 = 1, 2/1 = 2, 3/2 = 1.5, 5/3 = 1.6666..., 8/5 = 1.6, 13/8 = 1.625, 21/13 = 1.6153..., 34/21 = 1.6190..., 55/34 = 1.6176..., 89/55 = 1.6181..., 144/89 = 1.6179..., and so on. The retracement ratios are calculated by inverting this process and dividing each number in the sequence by the number proceeding it. For example 0/1 = 0, 1/1 = 1, 1/2 = 0.5, 2/3 = 0.666..., 3/5 = 0.6, 5/8 = 0.625, 8/13 = 0.6153..., 13/21 = 0.6190..., 21/34 = 0.6176..., 34/55 = 0.6181..., 55/89 = 0.6179..., 89/144 = 0.6180..., and so on. 1.618 is considered to be the 'golden ratio', found in many natural phenomena such as the growth of seashells and the branching of trees. Some now speculate the universe oscillates at a frequency of 0,618 Hz, which could help to explain such phenomena, but this theory has yet to be proven. Traders and analysts use Fibonacci retracement and extension indicators, consisting of horizontal lines representing different Fibonacci ratios, for identifying potential levels of support and resistance. Fibonacci ranges are typically drawn from left to right, with retracement levels representing ratios inside of the current range and extension levels representing ratios extended outside of the current range. If the current wave cycle ends on a swing low, the Fibonacci range is drawn from peak to trough. If the current wave cycle ends on a swing high the Fibonacci range is drawn from trough to peak. Harmonic Patterns The concept of harmonic patterns in trading was first introduced by H.M. Gartley in his book "Profits in the Stock Market", published in 1935. Gartley observed that markets have a tendency to move in repetitive patterns, and he identified several specific patterns that he believed could be used to predict future price movements. Since then, many other traders and analysts have built upon Gartley's work and developed their own variations of harmonic patterns. One such contributor is Larry Pesavento, who developed his own methods for measuring harmonic patterns using Fibonacci ratios. Pesavento has written several books on the subject of harmonic patterns and Fibonacci ratios in trading. Another notable contributor to harmonic patterns is Scott Carney, who developed his own approach to harmonic trading in the late 1990s and also popularised the use of Fibonacci ratios to measure harmonic patterns. Carney expanded on Gartley's work and also introduced several new harmonic patterns, such as the Shark pattern and the 5-0 pattern. The bullish and bearish Gartley patterns are the oldest recognized harmonic patterns in trading and all the other harmonic patterns are ultimately modifications of the original Gartley patterns. Gartley patterns are fundamentally composed of 5 points, or 4 waves. Bullish and Bearish 5-0 Patterns • Bullish 5-0 patterns are fundamentally composed of three peaks and three troughs, with the second peak being lower than the first peak and the third peak being higher than the first peak. And similarly, the second trough being lower than the first trough and the third trough being higher than both the first and second troughs. • Bearish 5-0 patterns are fundamentally composed of three troughs and three peaks, with the second trough being higher than the first trough and the third trough being lower than the first trough. And similarly, the second peak being higher than the first peak and the third peak being lower than both the first and second peaks. The ratio measurements recommended by Scott Carney, who originated the pattern, are as follows: • Wave 1 of the pattern, referred to as OX, has no specific ratio requirements. • Wave 2 of the pattern, referred to as XA, has no specific ratio requirements. • Wave 3 of the pattern, referred to as AB, should extend to at least 113%, but no further than 161.8% of the range set by wave 2. • Wave 4 of the pattern, referred to as BC, should extend to at least 161.8%, but no further than 224% of the range set by wave 3. • Wave 5 of the pattern, referred to as CD, should retrace to 50.0% of the range set by wave 4. Measurement Tolerances In general, tolerance in measurements refers to the allowable variation or deviation from a specific value or dimension. It is the range within which a particular measurement is considered to be acceptable or accurate. In this script I have applied this concept to the measurement of harmonic pattern ratios to increase to the frequency of pattern occurrences. For example, the AB measurement of Gartley patterns is generally set at around 61.8%, but with such specificity in the measuring requirements the patterns are very rare. We can increase the frequency of pattern occurrences by setting a tolerance. A tolerance of 10% to both downside and upside, which is the default setting for all tolerances, means we would have a tolerable measurement range between 51.8-71.8%, thus increasing the frequency of occurrence. █   FEATURES Inputs • AB Lower Tolerance • AB Upper Tolerance • BC Lower Tolerance • BC Upper Tolerance • CD Lower Tolerance • CD Upper Tolerance • Pattern Color • Label Color • Show Projections • Extend Current Projection Lines █   LIMITATIONS All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with. █   NOTES Here is a link to Scott's harmonic patterns webpage for those who may be interested: harmonictrader.com
Indicador Pine Script®
por theEccentricTrader
2
Bearish Shark Harmonic Patterns [theEccentricTrader]█   OVERVIEW This indicator automatically draws bearish Shark harmonic patterns and price projections derived from the ranges that constitute the patterns. █   CONCEPTS Green and Red Candles • A green candle is one that closes with a close price equal to or above the price it opened. • A red candle is one that closes with a close price that is lower than the price it opened. Swing Highs and Swing Lows • A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak. • A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough. Peak and Trough Prices (Basic) • The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher. • The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower. Historic Peaks and Troughs The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one. Range The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips. Support and Resistance • Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further. • Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further. Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down. It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction. Upper Trends • A return line uptrend is formed when the current peak price is higher than the preceding peak price. • A downtrend is formed when the current peak price is lower than the preceding peak price. • A double-top is formed when the current peak price is equal to the preceding peak price. Lower Trends • An uptrend is formed when the current trough price is higher than the preceding trough price. • A return line downtrend is formed when the current trough price is lower than the preceding trough price. • A double-bottom is formed when the current trough price is equal to the preceding trough price. Muti-Part Upper and Lower Trends • A multi-part return line uptrend begins with the formation of a new return line uptrend, or higher peak, and continues until a new downtrend, or lower peak, completes the trend. • A multi-part downtrend begins with the formation of a new downtrend, or lower peak, and continues until a new return line uptrend, or higher peak, completes the trend. • A multi-part uptrend begins with the formation of a new uptrend, or higher trough, and continues until a new return line downtrend, or lower trough, completes the trend. • A multi-part return line downtrend begins with the formation of a new return line downtrend, or lower trough, and continues until a new uptrend, or higher trough, completes the trend. Wave Cycles A wave cycle is here defined as a complete two-part move between a swing high and a swing low, or a swing low and a swing high. The first swing high or swing low will set the course for the sequence of wave cycles that follow; for example a chart that begins with a swing low will form its first complete wave cycle upon the formation of the first complete swing high and vice versa. Figure 1. Fibonacci Retracement and Extension Ratios The Fibonacci sequence is a series of numbers in which each number is the sum of the two preceding numbers, starting with 0 and 1. For example 0 + 1 = 1, 1 + 1 = 2, 1 + 2 = 3, and so on. Ultimately, we could go on forever but the first few numbers in the sequence are as follows: 0 , 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144. The extension ratios are calculated by dividing each number in the sequence by the number preceding it. For example 0/1 = 0, 1/1 = 1, 2/1 = 2, 3/2 = 1.5, 5/3 = 1.6666..., 8/5 = 1.6, 13/8 = 1.625, 21/13 = 1.6153..., 34/21 = 1.6190..., 55/34 = 1.6176..., 89/55 = 1.6181..., 144/89 = 1.6179..., and so on. The retracement ratios are calculated by inverting this process and dividing each number in the sequence by the number proceeding it. For example 0/1 = 0, 1/1 = 1, 1/2 = 0.5, 2/3 = 0.666..., 3/5 = 0.6, 5/8 = 0.625, 8/13 = 0.6153..., 13/21 = 0.6190..., 21/34 = 0.6176..., 34/55 = 0.6181..., 55/89 = 0.6179..., 89/144 = 0.6180..., and so on. 1.618 is considered to be the 'golden ratio', found in many natural phenomena such as the growth of seashells and the branching of trees. Some now speculate the universe oscillates at a frequency of 0,618 Hz, which could help to explain such phenomena, but this theory has yet to be proven. Traders and analysts use Fibonacci retracement and extension indicators, consisting of horizontal lines representing different Fibonacci ratios, for identifying potential levels of support and resistance. Fibonacci ranges are typically drawn from left to right, with retracement levels representing ratios inside of the current range and extension levels representing ratios extended outside of the current range. If the current wave cycle ends on a swing low, the Fibonacci range is drawn from peak to trough. If the current wave cycle ends on a swing high the Fibonacci range is drawn from trough to peak. Harmonic Patterns The concept of harmonic patterns in trading was first introduced by H.M. Gartley in his book "Profits in the Stock Market", published in 1935. Gartley observed that markets have a tendency to move in repetitive patterns, and he identified several specific patterns that he believed could be used to predict future price movements. Since then, many other traders and analysts have built upon Gartley's work and developed their own variations of harmonic patterns. One such contributor is Larry Pesavento, who developed his own methods for measuring harmonic patterns using Fibonacci ratios. Pesavento has written several books on the subject of harmonic patterns and Fibonacci ratios in trading. Another notable contributor to harmonic patterns is Scott Carney, who developed his own approach to harmonic trading in the late 1990s and also popularised the use of Fibonacci ratios to measure harmonic patterns. Carney expanded on Gartley's work and also introduced several new harmonic patterns, such as the Shark pattern and the 5-0 pattern. The bullish and bearish Gartley patterns are the oldest recognized harmonic patterns in trading and all the other harmonic patterns are ultimately modifications of the original Gartley patterns. Gartley patterns are fundamentally composed of 5 points, or 4 waves. Bullish and Bearish Shark Patterns • Bullish shark patterns are fundamentally composed of three troughs and two peaks, with the second peak being higher than the first peak and the second trough being higher than the first trough. The third trough must be lower than the second trough but can be above or below the first trough providing it meets the ratio requirements. • Bearish shark patterns are fundamentally composed of three peaks and two troughs, with the second trough being lower than the first trough and the second peak being lower than the first peak. The third peak must be higher than the second peak but can be above or below the first peak providing it meets the ratio requirements. The ratio measurements recommended by Scott Carney, who originated the pattern, are as follows: • Wave 1 of the pattern, referred to as OX, has no specific ratio requirements. • Wave 2 of the pattern, referred to as XA, has no specific ratio requirements. • Wave 3 of the pattern, referred to as AB, should extend to at least 113%, but no further than 161.8% of the range set by wave 2. • Wave 4 of the pattern, referred to as BC, should extend to at least 161.8%, but no further than 224% of the range set by wave 3. • The last measure, referred to as XC, is that of wave 4 as a ratio of the range set by wave 1, which should extend to at least 88.6%, but no further than 113%. Measurement Tolerances In general, tolerance in measurements refers to the allowable variation or deviation from a specific value or dimension. It is the range within which a particular measurement is considered to be acceptable or accurate. In this script I have applied this concept to the measurement of harmonic pattern ratios to increase to the frequency of pattern occurrences. For example, the AB measurement of Gartley patterns is generally set at around 61.8%, but with such specificity in the measuring requirements the patterns are very rare. We can increase the frequency of pattern occurrences by setting a tolerance. A tolerance of 10% to both downside and upside, which is the default setting for all tolerances, means we would have a tolerable measurement range between 51.8-71.8%, thus increasing the frequency of occurrence. █   FEATURES Inputs • AB Lower Tolerance • AB Upper Tolerance • BC Lower Tolerance • BC Upper Tolerance • XC Lower Tolerance • XC Upper Tolerance • Pattern Color • Label Color • Show Projections • Extend Current Projection Lines █   LIMITATIONS All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with. █   NOTES Here is a link to Scott's harmonic patterns webpage for those who may be interested: harmonictrader.com
Indicador Pine Script®
por theEccentricTrader
2
Bullish Shark Harmonic Patterns [theEccentricTrader]█   OVERVIEW This indicator automatically draws bullish Shark harmonic patterns and price projections derived from the ranges that constitute the patterns. █   CONCEPTS Green and Red Candles • A green candle is one that closes with a close price equal to or above the price it opened. • A red candle is one that closes with a close price that is lower than the price it opened. Swing Highs and Swing Lows • A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak. • A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough. Peak and Trough Prices (Basic) • The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher. • The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower. Historic Peaks and Troughs The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one. Range The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips. Support and Resistance • Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further. • Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further. Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down. It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction. Upper Trends • A return line uptrend is formed when the current peak price is higher than the preceding peak price. • A downtrend is formed when the current peak price is lower than the preceding peak price. • A double-top is formed when the current peak price is equal to the preceding peak price. Lower Trends • An uptrend is formed when the current trough price is higher than the preceding trough price. • A return line downtrend is formed when the current trough price is lower than the preceding trough price. • A double-bottom is formed when the current trough price is equal to the preceding trough price. Muti-Part Upper and Lower Trends • A multi-part return line uptrend begins with the formation of a new return line uptrend, or higher peak, and continues until a new downtrend, or lower peak, completes the trend. • A multi-part downtrend begins with the formation of a new downtrend, or lower peak, and continues until a new return line uptrend, or higher peak, completes the trend. • A multi-part uptrend begins with the formation of a new uptrend, or higher trough, and continues until a new return line downtrend, or lower trough, completes the trend. • A multi-part return line downtrend begins with the formation of a new return line downtrend, or lower trough, and continues until a new uptrend, or higher trough, completes the trend. Wave Cycles A wave cycle is here defined as a complete two-part move between a swing high and a swing low, or a swing low and a swing high. The first swing high or swing low will set the course for the sequence of wave cycles that follow; for example a chart that begins with a swing low will form its first complete wave cycle upon the formation of the first complete swing high and vice versa. Figure 1. Fibonacci Retracement and Extension Ratios The Fibonacci sequence is a series of numbers in which each number is the sum of the two preceding numbers, starting with 0 and 1. For example 0 + 1 = 1, 1 + 1 = 2, 1 + 2 = 3, and so on. Ultimately, we could go on forever but the first few numbers in the sequence are as follows: 0 , 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144. The extension ratios are calculated by dividing each number in the sequence by the number preceding it. For example 0/1 = 0, 1/1 = 1, 2/1 = 2, 3/2 = 1.5, 5/3 = 1.6666..., 8/5 = 1.6, 13/8 = 1.625, 21/13 = 1.6153..., 34/21 = 1.6190..., 55/34 = 1.6176..., 89/55 = 1.6181..., 144/89 = 1.6179..., and so on. The retracement ratios are calculated by inverting this process and dividing each number in the sequence by the number proceeding it. For example 0/1 = 0, 1/1 = 1, 1/2 = 0.5, 2/3 = 0.666..., 3/5 = 0.6, 5/8 = 0.625, 8/13 = 0.6153..., 13/21 = 0.6190..., 21/34 = 0.6176..., 34/55 = 0.6181..., 55/89 = 0.6179..., 89/144 = 0.6180..., and so on. 1.618 is considered to be the 'golden ratio', found in many natural phenomena such as the growth of seashells and the branching of trees. Some now speculate the universe oscillates at a frequency of 0,618 Hz, which could help to explain such phenomena, but this theory has yet to be proven. Traders and analysts use Fibonacci retracement and extension indicators, consisting of horizontal lines representing different Fibonacci ratios, for identifying potential levels of support and resistance. Fibonacci ranges are typically drawn from left to right, with retracement levels representing ratios inside of the current range and extension levels representing ratios extended outside of the current range. If the current wave cycle ends on a swing low, the Fibonacci range is drawn from peak to trough. If the current wave cycle ends on a swing high the Fibonacci range is drawn from trough to peak. Harmonic Patterns The concept of harmonic patterns in trading was first introduced by H.M. Gartley in his book "Profits in the Stock Market", published in 1935. Gartley observed that markets have a tendency to move in repetitive patterns, and he identified several specific patterns that he believed could be used to predict future price movements. Since then, many other traders and analysts have built upon Gartley's work and developed their own variations of harmonic patterns. One such contributor is Larry Pesavento, who developed his own methods for measuring harmonic patterns using Fibonacci ratios. Pesavento has written several books on the subject of harmonic patterns and Fibonacci ratios in trading. Another notable contributor to harmonic patterns is Scott Carney, who developed his own approach to harmonic trading in the late 1990s and also popularised the use of Fibonacci ratios to measure harmonic patterns. Carney expanded on Gartley's work and also introduced several new harmonic patterns, such as the Shark pattern and the 5-0 pattern. The bullish and bearish Gartley patterns are the oldest recognized harmonic patterns in trading and all the other harmonic patterns are ultimately modifications of the original Gartley patterns. Gartley patterns are fundamentally composed of 5 points, or 4 waves. Bullish and Bearish Shark Patterns • Bullish shark patterns are fundamentally composed of three troughs and two peaks, with the second peak being higher than the first peak and the second trough being higher than the first trough. The third trough must be lower than the second trough but can be above or below the first trough providing it meets the ratio requirements. • Bearish shark patterns are fundamentally composed of three peaks and two troughs, with the second trough being lower than the first trough and the second peak being lower than the first peak. The third peak must be higher than the second peak but can be above or below the first peak providing it meets the ratio requirements. The ratio measurements recommended by Scott Carney, who originated the pattern, are as follows: • Wave 1 of the pattern, referred to as OX, has no specific ratio requirements. • Wave 2 of the pattern, referred to as XA, has no specific ratio requirements. • Wave 3 of the pattern, referred to as AB, should extend to at least 113%, but no further than 161.8% of the range set by wave 2. • Wave 4 of the pattern, referred to as BC, should extend to at least 161.8%, but no further than 224% of the range set by wave 3. • The last measure, referred to as XC, is that of wave 4 as a ratio of the range set by wave 1, which should extend to at least 88.6%, but no further than 113%. Measurement Tolerances In general, tolerance in measurements refers to the allowable variation or deviation from a specific value or dimension. It is the range within which a particular measurement is considered to be acceptable or accurate. In this script I have applied this concept to the measurement of harmonic pattern ratios to increase to the frequency of pattern occurrences. For example, the AB measurement of Gartley patterns is generally set at around 61.8%, but with such specificity in the measuring requirements the patterns are very rare. We can increase the frequency of pattern occurrences by setting a tolerance. A tolerance of 10% to both downside and upside, which is the default setting for all tolerances, means we would have a tolerable measurement range between 51.8-71.8%, thus increasing the frequency of occurrence. █   FEATURES Inputs • AB Lower Tolerance • AB Upper Tolerance • BC Lower Tolerance • BC Upper Tolerance • XC Lower Tolerance • XC Upper Tolerance • Pattern Color • Label Color • Show Projections • Extend Current Projection Lines █   LIMITATIONS All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with. █   NOTES Here is a link to Scott's harmonic patterns webpage for those who may be interested: harmonictrader.com
Indicador Pine Script®
por theEccentricTrader
2
Sushi Trend [HG]🍣 The Sushi Roll, a trading concept conceived at a restaurant by Mark Fisher. While the indicator itself goes by Sushi Trend, it is completely backed by the idea of Mark Fisher's Sushi Roll Reversal Pattern. No, it has nothing to do with raw fish, it just so happens that somebody was ordering sushi during the discussion of the idea, and that's how it got its name. 📝 Origin First mentioned in his book, The Logical Trader --- the idea of the Sushi Roll is to serve as an early warning system to identify reversals in the market. Fisher defines the pattern as a series of 10 bars, split into two different sections, seen as 5 and 5. In order for the pattern to be emitted, the 5 bars to the right must completely engulf the 5 bars to the left. It's not a super complex system and is in fact extremely simple to grasp. 📈 Supertrend Similarities Instead of displaying the pattern in the way Fisher meant for it to be portrayed (as seen in the photo above), I instead turned it into an indicator similar to that of Supertrend while also inheriting the same concepts from the pattern. I did this because the pattern itself has inconsistencies which can be quite noticeable when trading with it after a while. For example, these patterns can occur even during consolidating periods, and even though the pattern is meant to be recognized during trending markets, the engulfing bars can sometimes be left with indecisive directions. ➡️ The Result Here is the result, visualized to be better in a trending format. (The indicator will not contain the boxes.) While Fisher does mention the pattern to include 10 bars, you can actually use this pattern with any number of bars. At the end of the day, it's a concept derived from a discussion at a Japanese restaurant, and a pattern that has been around for years that has seen results. Due to this, I added an input option to control the series of bars for right-bar engulf detection. To reassure the meaning of the pattern --> "A series of 10 bars" means 5 left bars and 5 right bars. So if you want to check if 5 right bars are engulfing the previous 5 bars (as seen in the photo above), you would want to select 5 in the input settings. You can learn more about it from the following links Market Reversals and the Sushi Roll Technique The Logical Trader
Indicador Pine Script®
por HoanGhetti
16
Adaptive Fusion ADX VortexIntroduction The Adaptive Fusion ADX DI Vortex Indicator is a powerful tool designed to help traders identify trend strength and potential trend reversals in the market. This indicator uses a combination of technical analysis (TA) and mathematical concepts to provide accurate and reliable signals. Features The Adaptive Fusion ADX DI Vortex Indicator has several features that make it a powerful tool for traders. The Fusion Mode combines the Vortex Indicator and the ADX DI indicator to provide a more accurate picture of the market. The Hurst Exponent Filter helps to filter out choppy markets (inspired by balipour). Additionally, the indicator can be customized with various inputs and settings to suit individual trading strategies. Signals The enterLong signal is generated when the algorithm detects that it's a good time to buy a stock or other asset. This signal is based on certain conditions such as the values of technical indicators like ADX, Vortex, and Fusion. For example, if the ADX value is above a certain threshold and there is a crossover between the plus and minus lines of the ADX indicator, then the algorithm will generate an enterLong signal. Similarly, the enterShort signal is generated when the algorithm detects that it's a good time to sell a stock or other asset. This signal is also based on certain conditions such as the values of technical indicators like ADX, Vortex, and Fusion. For example, if the ADX value is above a certain threshold and there is a crossunder between the plus and minus lines of the ADX indicator, then the algorithm will generate an enterShort signal. The exitLong and exitShort signals are generated when the algorithm detects that it's a good time to close a long or short position, respectively. These signals are also based on certain conditions such as the values of technical indicators like ADX, Vortex, and Fusion. For example, if the ADX value crosses above a certain threshold or there is a crossover between the minus and plus lines of the ADX indicator, then the algorithm will generate an exitLong signal. Usage Traders can use this indicator in a variety of ways, depending on their trading strategy and style. Short-term traders may use it to identify short-term trends and potential trade opportunities, while long-term traders may use it to identify long-term trends and potential investment opportunities. The indicator can also be used to confirm other technical indicators or trading signals. Personally, I prefer to use it for short-term trades. Strengths One of the strengths of the Adaptive Fusion ADX DI Vortex Indicator is its accuracy and reliability. The indicator uses a combination of TA and mathematical concepts to provide accurate and reliable signals, helping traders make informed trading decisions. It is also versatile and can be used in a variety of trading strategies. Weaknesses While this indicator has many strengths, it also has some weaknesses. One of the weaknesses is that it can generate false signals in choppy or sideways markets. Additionally, the indicator may lag behind the market, making it less effective in fast-moving markets. That's a reason why I included the Hurst Exponent Filter and special smoothing. Concepts The Adaptive ADX DI Vortex Indicator with Fusion Mode and Hurst Filter is based on several key concepts. The Average Directional Index (ADX) is used to measure trend strength, while the Vortex Indicator is used to identify trend reversals. The Hurst Exponent is used to filter out noise and provide a more accurate picture of the market. In conclusion, the Adaptive Fusion ADX DI Vortex Indicator is a versatile and powerful tool for traders. By combining technical analysis and mathematical concepts, this indicator provides accurate and reliable signals for identifying trend strength and potential trend reversals. While it has some weaknesses, its many strengths and features make it a valuable addition to any trader's toolbox. --- Credits to: ▪️@cheatcountry – Hann Window Smoohing ▪️@loxx – VHF and T3 ▪️@balipour – Hurst Exponent Filter
Indicador Pine Script®
por simwai
5
Ectopic Bar by Moti RakamEctopic Bar is an indicator that highlights a pin-bar candle that has divergence in it's shape and volume delta. To find volume delta, code of standard Up/Down volume indicator has been used. PIN BAR : pin bar are marked by using Close Range option parameter. Default value is set to 0.35 which implies any candle that closes in the 35% of its high/low will be considered a pin bar (of course the code also ensures that rest of the bar body is only a wick). HOW IT WORKS: Up/Down volume variables "Up Volume" and "Down Volume" are checked against the shape of the pin bar to find an ectopic situation. For example, if a bullish pin bar candle (a bullish hammer) has more sell volume than buy volume, that's an ectopic situation. The bullish hammer shows a buying push from the bottom of the wick, instead the up/down volume indicator shows there were more sell orders than buy orders. Hence the ectopic situation. Similarly, an inverted hammer (a bearish hammer) in general should have more sell volume, but instead if it has more buying volume, the indicator highlights it as an ectopic bar. Ectopic Bars are painted in yellow colour.
Indicador Pine Script®
por MotiRakam
2
The Flash-Strategy (Momentum-RSI, EMA-crossover, ATR)The Flash-Strategy (Momentum-RSI, EMA-crossover, ATR) Are you tired of manually analyzing charts and trying to find profitable trading opportunities? Look no further! Our algorithmic trading strategy, "Flash," is here to simplify your trading process and maximize your profits. Flash is an advanced trading algorithm that combines three powerful indicators to generate highly selective and accurate trading signals. The Momentum-RSI, Super-Trend Analysis and EMA-Strategy indicators are used to identify the strength and direction of the underlying trend. The Momentum-RSI signals the strength of the trend and only generates trading signals in confirmed upward or downward trends. The Super-Trend Analysis confirms the trend direction and generates signals when the price breaks through the super-trend line. The EMA-Strategy is used as a qualifier for the generation of trading signals, where buy signals are generated when the EMA crosses relevant trend lines. Flash is highly selective, as it only generates trading signals when all three indicators align. This ensures that only the highest probability trades are taken, resulting in maximum profits. Our trading strategy also comes with two profit management options. Option 1 uses the so-called supertrend-indicator which uses the dynamic ATR as a key input, while option 2 applies pre-defined, fixed SL and TP levels. The settings for each indicator can be customized, allowing you to adjust the length, limit value, factor, and source value to suit your preferences. You can also set the time period in which you want to run the backtest and how many dollar trades you want to open in each position for fully automated trading. Choose your preferred trade direction and stop-loss/take-profit settings, and let Flash do the rest. Say goodbye to manual chart analysis and hello to consistent profits with Flash. Try it now! General Comments This Flash Strategy has been developed in cooperation between Baby_whale_to_moon and JS-TechTrading. Cudos to Baby_whale_to_moon for doing a great job in transforming sophisticated trading ideas into pine scripts. Detailed Description The “Flash” script considers the following indicators for the generation of trading signals: 1. Momentum-RSI 2. ‘Super-Trend’-Analysis 3. EMA-Strategy 1. Momentum-RSI • This indicator signals the strength of the underlying upward- or downward-trend. • The signal range of this indicator is from 0 to 100. Values > 60 indicate a confirmed upward- or downward-trend. • The strategy will only generate trading signals in case the stock (or any other financial security) is in a confirmed upward- (long entry signals) or downward-trend (short entry signals). • This indicator provides information with regards to the strength of the underlying trend and it does not give any insight with regard to the direction of the trend. Therefore, this strategy also considers other indicators which provide technical confirmation with regards to the direction of the underlying trend. Graph 1 shows this concept: • The Momentum-RSI indicator gives lower readings during consolidation phases and no trading signals are generated during these periods. Example (graph 2): 2. Super-Trend Analysis • The red line in the graph below represents the so-called super-trend-line. Trading signals are only generated in case the price action breaks through this super-trend-line indicating a new confirmed upward-trend (or downward-trend, respectively). • If that happens, the super trend-line changes its color from red to green, giving confirmation that the trend changed from bearish to bullish and long-entries can be considered. • The vice-versa approach can be considered for short entries. Graph 3 explains this concept: 3. Exponential Moving Average / EMA-Strategy The functionality of this EMA-element of the strategy has been programmed as follows: • The exponential moving average and two other trend lines are being used as qualifiers for the generation of trading-signals. • Buy-signals for long-entries are only considered in case the EMA (yellow line in the graph below) crosses the red line. • Sell-signals for short-entries are only considered in case the EMA (yellow line in the graph below) crosses the green line. An example is shown in graph 4 below: We use this indicator to determine the new trend direction that may occur by using the data of the price's past movement. 4. Bringing it all together This section describes in detail, how this strategy combines the Momentum-RSI, the super-trend analysis and the EMA-strategy. The strategy only generates trading-signals in case all of the following conditions and qualifiers are being met: 1. Momentum-RSI is higher than the set value of this strategy. The standard and recommended value is 60 (graph 5): 2. The super-trend analysis needs to indicate a confirmed upward-trend (for long-entry signals) or a confirmed downward-trend (for short-entry signals), respectively. 3. The EMA-strategy needs to indicate that the stock or financial security is in a confirmed upward-trend (long-entries) or downward-trend (short-entries), respectively. The strategy will only generate trading signals if all three qualifiers are being met. This makes this strategy highly selective and is the key secret for its success. Example for Long-Entry (graph 6): When these conditions are met, our Long position is opened. Example for Short-Entry (graph 7): Trade Management Options (graph 8) Option 1 In this dynamic version, the so-called supertrend-indicator is being used for the trade exit management. This supertrend-indicator is a sophisticated and optimized methodology which uses the dynamic ATR as one of its key input parameters. The following settings of the supertrend-indicator can be changed and optimized (graph 9): The dynamic SL/TP-lines of the supertrend-indicator are shown in the charts. The ATR-length and the supertrend-factor result in a multiplier value which can be used to fine-tune and optimize this strategy based on the financial security, timeframe and overall market environment. Option 2 (graph 10): Option 2 applies pre-defined, fixed SL and TP levels which will appear as straight horizontal lines in the chart. Settings options (graph 11): The following settings can be changed for the three elements of this strategy: 1. (Length Mom-Rsi): Length of our Mom-RSI indicator. 2. Mom-RSI Limit Val: the higher this number, the more momentum of the underlying trend is required before the strategy will start creating trading signals. 3. The length and factor values of the super trend indicator can be adjusted:ATR Length SuperTrend and Factor Super Trend 4. You can set the source value used by the ema trend indicator to determine the ema line: Source Ema Ind 5. You can set the EMA length and the percentage value to follow the price: Length Ema Ind and Percent Ema Ind 6. The backtesting period can be adjusted: Start and End time of BackTest 7. Dollar cost per position: this is relevant for 100% fully automated trading. 8. Trade direction can be adjusted: LONG, SHORT or BOTH 9. As we explained above, we can determine our stop-loss and take-profit levels dynamically or statically. (Version 1 or Version 2 ) Display options on the charts graph 12): 1. Show horizontal lines for the Stop-Loss and Take-profit levels on the charts. 2. Display relevant Trend Lines, including color setting options for the supertrend functionality. In the example below, green lines indicate a confirmed uptrend, red lines indicate a confirmed downtrend. Other comments • This indicator has been optimized to be applied for 1 hour-charts. However, the underlying principles of this strategy are supply and demand in the financial markets and the strategy can be applied to all timeframes. Daytraders can use the 1min- or 5min charts, swing-traders can use the daily charts. • This strategy has been designed to identify the most promising, highest probability entries and trades for each stock or other financial security. • The combination of the qualifiers results in a highly selective strategy which only considers the most promising swing-trading entries. As a result, you will normally only find a low number of trades for each stock or other financial security per year in case you apply this strategy for the daily charts. Shorter timeframes will result in a higher number of trades / year. • Consequently, traders need to apply this strategy for a full watchlist rather than just one financial security.
Estrategia Pine Script®
por JS_TechTrading
4
Volatility Percentile (H-LINES)A simple script that adjusts the Volatility Percentile Indicator visibly in order to better accommodate entries/exits and certain trading setups/strategies. -------------------------------------------------------------------------------------------------------------------------------------------------------- TL;DR - Remember after a full reset, we are looking for initial crosses UP on the UpperSwingline and crosses DOWN on the LowerSwingline for primary and secondary signal derivation. Vice versa also works great but the prior method mentioned is a little more consistent in my experience, but you should mess around and optimise this for your own setups and strategies anyway. -------------------------------------------------------------------------------------------------------------------------------------------------------- ORIGINAL SCRIPT HERE: ^Click image for a redirect to that script. ALL CREDIT GOES TO: www.tradingview.com He wrote everything so give credit where it's due, good bit of kit this here script is. -------------------------------------------------------------------------------------------------------------------------------------------------------- HOW I USE MY VISUALLY ALTERED VERSION OF THIS SCRIPT First of all, the alterations I've made seem only to be consistently viable with renko charts though if you can get the sought after results using candles or any other chart type then perfect, but be wary. All my back-testing done only with LinReg, HMA and SWMA - ATR type settings exclusively on renko charts. The changes I've made to the original script essentially just turns it visibly into an oscillator and uses a couple horizontal lines to generate signals, very simple - absolutely nothing has changed in the actual code of calculating this indicator. What I believe my adjustments have achieved is quite simple. A full reset/oscillation on the indicator tries to map the strongest parts of a move or at least the part of the move where volume and the rate of transactions is at its peak to even facilitate said move. *take this statement with a pinch of salt though I do believe it's interacting with accumulation/distribution patterns, which is expected of volatility* For ease of communication let's refer to the area between the the first UpperSwingline cross to the subsequent LowerSwingline cross, as the primary move. Then afterwards when it crosses the UpperSwingline again to make the full reset, the area in between those two points referred to as the secondary move. Though more interestingly/practically the indicator ends up giving you two signals. In order for this to work we have to first decide that a spike up in volatility which crosses the UpperSwingline implies a significant level of interest at that price level. Usually that means a reversal is brewing, if price has already moved, trended and is approaching a certain area of value; which causes a spike of new positions to be taken, then you know that this is a level where contrarians are looking to enter. Now here's the tricky part, when volatility crosses the LowerSwingline price action becomes a little more open for interpretation, the way I personally like to look at this secondary signal is the potential for an exhaustion period to prolong itself a little longer. I know that's not the perfect analysis for what's going on, a more in-depth look into what's going on would best be described using Elliott Wave Theory, if a cross on the UpperSwingline near a significant area of value gives us a reversal trade lets just assume for the sake of argument that a new Elliott Wave can begin forming here. Making the move from that initial UpperSwngline cross to the cross on the LowerSwingline, the area that encompasses those two points: the impulse wave. After this point my analogy kind of falls apart and sadly my knowledge just isn't what it needs to be in order for me to properly analyse what's going on here but I must digress. Price after crossing the LowerSwingline up until the point where it makes a full reset by crossing the UpperSwingline again, within this area price seems to do either one of two things: Situation 1 - Most likely occurs after a major trend reversal from major support/resistance or area of value (price has trended to new territory, maybe spent time a little time consolidating but hasn't broken the key level, momentum shifts, price action breaks current structure and you get the signal that primary move is a reversal) = Exhaustion Period, price will continue in direction of primary move during the secondary move. This here is for our trend-followers, you wanna take a continuation trade? Just wait for the pullback/rally to hit a FiB retracement level and enter - or any other means to find a decent support/resistance to enter. Situation 2 - Most likely occurs when market enters a range or consolidation (price was previously seen as being at either a discount or premium so Situation 1 could have already played out and now you're looking at a full reset after that, imagine this spot to be the centre line of a linear regression channel or bang in the middle of your range, could even occur if price breaks a key moving average and decides it ought to consolidate around it for a while. Basically at any point where a somewhat prolonged consolidation is expected and not a quick reversal) = Corrective Wave, price will move against the direction of primary move during the secondary move. Now you might be expecting me to say this ones for you reversal traders but not really, if this is occurring then there probably isn't a definitive direction the market has chosen so you can use this opportunity to take range trades in the direction or against the direction of whatever the current trend or latest trend was depending on whatever slight bias you may have. <--- Situation 2 is very useful for finding cleaner entries if you do have a trend bias, say price underwent Situation 1, is now at key moving average but your bias is that it will break and continue up, so you wait and allow the secondary move of Situation 2 to take your entry to a much better R:R before entering a position. --------------------------------------------------------------------------------------------------------------------------------------------------------
Indicador Pine Script®
por D_dot_ZK
1
Crypto McClellan Oscillator (SLN Fix)This is an adaption of the Mcclellan Oscillator for crypto. Instead of tracking the S&P500 it tracks a selection of cryptos to make sure the indicator follows this sector instead. Full credit goes to the creator of this indicator: Fadior. It has since been fixed by SLN. The following description explains the standard McClellan Oscillator. Full credit to Investopedia , my fav source of financial explanations. The same principles applies to its use in the crypto sector, but please be cautious of the last point, the limitations. Since crypto is more volatile, that could amplify choppy behavior. This is not financial advice, please be extremely cautious. This indicator is only suitable as a confirmation signal and needs support of other signals to be profitable. This indicator usually produces the best signals on slightly above daily time frame. I personally like 2 or 3 day, but you have to find the settings suitable for your trading style. What Is the McClellan Oscillator? The McClellan Oscillator is a market breadth indicator that is based on the difference between the number of advancing and declining issues on a stock exchange, such as the New York Stock Exchange (NYSE) or NASDAQ. The indicator is used to show strong shifts in sentiment in the indexes, called breadth thrusts. It also helps in analyzing the strength of an index trend via divergence or confirmation. The McClellan Oscillator formula can be applied to any stock exchange or group of stocks. A reading above zero helps confirm a rise in the index, while readings below zero confirm a decline in the index. When the index is rising but the oscillator is falling, that warns that the index could start declining too. When the index is falling and the oscillator is rising, that indicates the index could start rising soon. This is called divergence. A significant change, such as moving 100 points or more, from a negative reading to a positive reading is called a breadth thrust. It may indicate a strong reversal from downtrend to uptrend is underway on the stock exchange. How to Calculate the McClellan Oscillator To get the calculation started, track Advances - Declines on a stock exchange for 19 and 39 days. Calculate a simple average for these, not exponential moving average (EMA). Use these simple values as the Prior Day EMA values in the 19- and 39-day EMA formulas. Calculate the 19- and 39-day EMAs. Calculate the McClellan Oscillator value. Now that the value has been calculated, on the next calculation use this value for the Prior Day EMA. Start calculating EMAs for the formula instead of simple averages. If using the adjusted formula, the steps are the same, except use ANA instead of using Advances - Declines. What Does the McClellan Oscillator Tell You? The McClellan Oscillator is an indicator based on market breadth which technical analysts can use in conjunction with other technical tools to determine the overall state of the stock market and assess the strength of its current trend. Since the indicator is based on all the stocks in an exchange, it is compared to the price movements of indexes that reflect that exchange, or compared to major indexes such as the S&P 500. Positive and negative values indicate whether more stocks, on average, are advancing or declining. The indicator is positive when the 19-day EMA is above the 39-day EMA, and negative when the 19-day EMA is below the 39-day EMA. A positive and rising indicator suggests that stocks on the exchange are being accumulated. A negative and falling indicator signals that stocks are being sold. Typically such action confirms the current trend in the index. Crossovers from positive to negative, or vice versa, may signal the trend has changed in the index or exchange being tracked. When the indicator makes a large move, typically of 100 points or more, from negative to positive territory, that is called a breadth thrust. It means a large number of stocks moved up after a bearish move. Since the stock market tends to rise over time, this a positive signal and may indicate that a bottom in the index is in and prices are heading higher overall. When index prices and the indicator are moving in different directions, then the current index trend may lack strength. Bullish divergence occurs when the oscillator is rising while the index is falling. This indicates the index could head higher soon since more stocks are starting to advance. Bearish divergence is when the index is rising and the indicator is falling. This means fewer stocks are keeping the advance going and prices may start to head lower. Limitations of Using the McClellan Oscillator The indicator tends to produce lots of signals. Breadth thrusts, divergence, and crossovers all occur with some frequency, but not all these signals will result in the price/index moving in the expected direction. The indicator is prone to producing false signals and therefore should be used in conjunction with price action analysis and other technical indicators. The indicator can also be quite choppy, moving between positive and negative territory rapidly. Such action indicates a choppy market, but this isn't evident until the indicator has made this whipsaw move a few times. Good luck and a big thanks to Fadior!
Indicador Pine Script®
por stresslessness
Currency Strength [LuxAlgo]The Currency Strength indicator displays the historical relative strength of 5 user selected currencies over a user selected period of time. Users can also display relative strength of currencies as a scatter plot, further informing on the evolution of currency strength. 🔶 SETTINGS Display: Determines the type of data displayed by the indicator. By default, the trailing relative strength of currencies is displayed, with the other option displaying the scatter plot. Timeframe: Timeframe period used to calculate currency relative strength. 🔹 Meter Show Strength Meter: Displays the currency strength meter on the indicator panel. Strength Meter Resolution: Resolution of the currency strength meter, higher resolutions allow to observe smaller difference in strength. Location: Location of the currency strength meter on the indicator pane. Size: Size of the currency strength meter. 🔹 Relative Strength Scatter Graph Scatter Graph Resolution: Horizontal and vertical width of the scatter plot (in bars). Higher values allow a more precise position on the X axis. 🔶 USAGE Measuring the relative strength of a currency allows users to assess the relative performance of a currency against a basket of other currencies. The term "strength" can convey various interpretations depending on the indicator. Here "strength" is interpreted as an indicator of performance, with stronger currencies having greater performances over the selected period (positive changes of higher magnitude). The Currency Strength indicator allows users to analyze the relative strength of currencies over a user selected period - the returned results will reset periodically and will accumulate afterward. The above chart shows the hourly relative strength of various currencies on the 1min TF. 🔹 Scatter Graph The scatter graph displays the relative strength of a currency over its value during the previous period. This not only allows users to see if a currency is strong... but also if it's getting stronger compared to the previous period. In order to quickly interpret results, the graph is divided into four areas. A currency (displayed as a point) being in a specific area returns the following information: Strong(Green): Currency has a positive relative strength (bullish) and is greater than its value over the previous period. Improving (Yellow): Currency has a negative relative strength (bearish) and is greater than its value over the previous period. Weakening (Aqua): Currency has a positive relative strength (bullish) and is lower than its value over the previous period. Weak (Red): Currency has a negative relative strength (bearish) and is lower than its value over the previous period. 🔶 DETAILS There is a wide variety of methods for the calculation of a currency's relative strength. The primary focus of the indicator is on the meter as well as the relative strength scatter graph. The currency strength calculation can be considered more basic. Given two currencies, B (base) and Q (quote), the proposed indicator calculation process is as follows: Exchange rate BQ(t) over time t is obtained, a rising value of BQ(t) means that a unit of B is now worth a higher amount of Q , highlighting strength of B over Q on that precise variation. The individual relative strength over time IRS(t) is obtained as the percentage relatively close to the open difference of BQ(t) , that is: IRS(t) = / open(t) * 100 Normalizing the close to open difference allows for the various currencies' relative strengths to approximately share the same scale. The above operation is performed n times over a space of n currencies O( n ) . The obtained individual relative strengths for one specific currency are then added together, forming the final composite relative strength ( CRS ) of that currency: CRS (t) = IRS (t) + IRS (t) + ... + IRS (t) The cumulative sum of CRS(t) over the user selected period is then obtained.
Indicador Pine Script®
por LuxAlgo
16
Three Bar Gap (Simple Price Action - with 1 line plot)This script is tailored towards experienced traders who prefer to view raw price charts during live execution. It searches for a three-bar pattern of what is colloquially called "fair value gap", or "imbalance" and uses a single line to plot the results. The goal is to display price in a way that is as simple as possible so that chart readers who don't prefer to add indicators on their screen will still find this indicator as an acceptable option to consider for. From a code perspective, this script explores a new PineScript feature called UDT (user-defined types). This is an incredible update because it brings developers one step close to having the ability to create abstract data types. █ What is price action? Experienced traders will tell you that the chart that they use for live execution is raw, clean, and uses no indicators. They say they execute on price action, so what exactly is price action? There is no formal definition to it, but one can agree that it implies the process of analyzing price without considering the fundamentals, without needing to know what the news was about, and without needing to know any of the Greeks (except for the desire to “seek alpha” Ha.haa...). This is not to say that price action traders are executing in their own vacuums without the need to know what is happening around the world. Surely fundamentals and financial models can be used beforehand for developing a bias for what is being traded, but it’s price-first at the moment of execution. That said, Factor (A) is Price. Factor (B) is time-perception, it’s how the trader reads the tape. How the trader perceives price to change with respect to time is valuable information. Interpretation of "time" will be elaborated in the next section that talks about candlestick patterns detected by this script. Putting this together, price action means the analysis of price movement by only considering (A) price, and (B) time, to predict which direction the market will move. A speculative trader is timing the market with the expectation to make a quick in-and-out profit; she/she is using price action. On the other hand, a long term investor holding a diversified portfolio with a strategy based on modern portfolio theory combined with fundamental analysis (at this point candlesticks are irrelevant) but has one additional criteria of, say, can only go Long on a stock when it has closed Green on Daily; he/she is also considered to be executing on price action. █ Candlestick patterns This script calculates the displacement of highs and lows over three consecutive bars. A) Down move = When High of the recent confirmed bar is lower than the Low of the previous-previous candle B) Up move = When Low of the recent confirmed bar is higher than the High of the previous-previous candle (Note that its the confirmed bar that is being talked about, so it does not repaint) An ATR filter will be applied to reduce the number of lines generated as many times they might just be associated with minor price changes. Interpretations: When price moves quickly across three bars, it can be thought that it has gapped. Although the candle in the middle appears to be solid, it’s not from a conceptual perspective. This is because time itself is arbitrary; timeframes don’t necessarily have to be fixed intervals. Take stocks with regular trading hours for example, if price makes a breakaway gap and you bundle the after-hours and pre-market sessions together as one candle, never minding that intervals should be fixed, then you will see the exact three-bar-gap patterns. Similar happens during intraday sessions on lower timeframes, if you zoom-in closer, you’ll see that ticks within the middle candle are sparsely dispersed. This is why it's called a gap. █ Parameters with fixed inputs & assumptions used: ATR is used for filtering out minor movements that will likely be deemed as irrelevant by trader for the purpose of live execution. The following inputs are required: A) ATR lookback period B) Multiplier The product of ATR(len=A) and B produces a threshold for minimum distance that price must gap by. Initially, it was proposed to be only based on one ATR, but often an ATR is too wide and using it will filter out too many lines. Because of this observation, a multiplier (Parameter B) has been introduced to allow users to apply fractional ATR as a threshold. █ Applications: For trend followers: Follow the direction of the gap. Entering above recent high/low points above/below the first impulse with a stop-limit order is a viable tactic. For contrarians fading a trend: The mid-point is a good point of reference for predicting potential areas of support/resistance.
Indicador Pine Script®
por DojiEmoji
5
Band-Zigzag Based Trend FollowerWe defined new method to derive zigzag last month - which is called Channel-Based-Zigzag . This script is an example of one of the use case of this method. 🎲 Trend Following Defining a trend following method is simple. Basic rule of trend following is Buy High and Sell Low (Yes, you heard it right). To explain further - methodology involve finding an established trend which is flying high and join the trend with proper risk and optimal stop. Once you get into the trade, you will not exit unless there is change in the trend. Or in other words, the parameters which you used to define trend has reversed and the trend is not valid anymore. Few examples are: 🎯 Using bands When price breaks out of upper bands (example, Bollinger Band, Keltener Channel, or Donchian Channel), with a pre determined length and multiplier, we can consider the trend to be bullish and similarly when price breaks down the lower band, we can consider the trend to be bearish. Here are few examples where I have used bands for identifying trend Band-Based-Supertrend Donchian-Channel-Trend-Filter 🎯 Using Pivots Simple logic using zigzag or pivot points is that when price starts making higher highs and higher lows, we can consider this as uptrend. And when price starts making lower highs and lower lows, we can consider this as downtrend. There are few supertrend implementations I have published in the past based on zigzags and pivot points. Adoptive-Supertrend-Pivots Zigzag-Supertrend Drawbacks of both of these methods is that there will be too many fluctuations in both cases unless we increase the reference length. And if we increase the reference length, we will have higher drawdown. 🎲 Band Based Zigzag Method Band Based Zigzag will help overcome these issues by combining both the methods. Here we use bands to define our pivot high and pivot low - this makes sure that we are identifying trend only on breakouts as pivots are only formed on breakouts. Our method also includes pivot ratio to cross over 1.0 to be able to consider it as trend. This means, we are waiting for price also to make new high high or lower low before making the decision on trend. But, this helps us ignore smaller pivot movements due to the usage of bands. I have also implemented few tricks such as sticky bands (Bands will not contract unless there is breakout) and Adaptive Bands (Band will not expand unless price is moving in the direction of band). This makes the trend following method very robust. To avoid fakeouts, we also use percentB of high/low in comparison with price retracement to define breakout. 🎲 The indicator The output of indicator is simple and intuitive to understand. 🎯 Trend Criteria Uptrend when last confirmed pivot is pivot high and has higher retracement ratio than PercentB of High. Else, considered as downtrend. Downtrend when last confirmed pivot is pivot low and has higher retracement ratio than PercentB of High. Else, considered as uptrend. 🎯 Settings Settings allow you to select the band type and parameters used for calculating zigzag and then trend. Also has few options to hide the display.
Indicador Pine Script®
por Trendoscope
25