Ultimate Oscillator (ULTOSC)The Ultimate Oscillator (ULTOSC) is a technical momentum indicator developed by Larry Williams that combines three different time periods to reduce the volatility and false signals common in single-period oscillators. By using a weighted average of three Stochastic-like calculations across short, medium, and long-term periods, the Ultimate Oscillator provides a more comprehensive view of market momentum while maintaining sensitivity to price changes.
The indicator addresses the common problem of oscillators being either too sensitive (generating many false signals) or too slow (missing opportunities). By incorporating multiple timeframes with decreasing weights for longer periods, ULTOSC attempts to capture both short-term momentum shifts and longer-term trend strength, making it particularly valuable for identifying divergences and potential reversal points.
## Core Concepts
* **Multi-timeframe analysis:** Combines three different periods (typically 7, 14, 28) to capture various momentum cycles
* **Weighted averaging:** Assigns higher weights to shorter periods for responsiveness while including longer periods for stability
* **Buying pressure focus:** Measures the relationship between closing price and the true range rather than just high-low range
* **Divergence detection:** Particularly effective at identifying momentum divergences that precede price reversals
* **Normalized scale:** Oscillates between 0 and 100, with clear overbought/oversold levels
## Common Settings and Parameters
| Parameter | Default | Function | When to Adjust |
|-----------|---------|----------|---------------|
| Fast Period | 7 | Short-term momentum calculation | Lower (5-6) for more sensitivity, higher (9-12) for smoother signals |
| Medium Period | 14 | Medium-term momentum calculation | Adjust based on typical swing duration in the market |
| Slow Period | 28 | Long-term momentum calculation | Higher values (35-42) for longer-term position trading |
| Fast Weight | 4.0 | Weight applied to fast period | Higher weight increases short-term sensitivity |
| Medium Weight | 2.0 | Weight applied to medium period | Adjust to balance medium-term influence |
| Slow Weight | 1.0 | Weight applied to slow period | Usually kept at 1.0 as the baseline weight |
**Pro Tip:** The classic 7/14/28 periods with 4/2/1 weights work well for most markets, but consider using 5/10/20 with adjusted weights for faster markets or 14/28/56 for longer-term analysis.
## Calculation and Mathematical Foundation
**Simplified explanation:**
The Ultimate Oscillator calculates three separate "buying pressure" ratios using different time periods, then combines them using weighted averaging. Buying pressure is defined as the close minus the true low, divided by the true range.
**Technical formula:**
```
BP = Close - Min(Low, Previous Close)
TR = Max(High, Previous Close) - Min(Low, Previous Close)
BP_Sum_Fast = Sum(BP, Fast Period)
TR_Sum_Fast = Sum(TR, Fast Period)
Raw_Fast = 100 × (BP_Sum_Fast / TR_Sum_Fast)
BP_Sum_Medium = Sum(BP, Medium Period)
TR_Sum_Medium = Sum(TR, Medium Period)
Raw_Medium = 100 × (BP_Sum_Medium / TR_Sum_Medium)
BP_Sum_Slow = Sum(BP, Slow Period)
TR_Sum_Slow = Sum(TR, Slow Period)
Raw_Slow = 100 × (BP_Sum_Slow / TR_Sum_Slow)
ULTOSC = 100 × / (Fast_Weight + Medium_Weight + Slow_Weight)
```
Where:
- BP = Buying Pressure
- TR = True Range
- Fast Period = 7, Medium Period = 14, Slow Period = 28 (defaults)
- Fast Weight = 4, Medium Weight = 2, Slow Weight = 1 (defaults)
> 🔍 **Technical Note:** The implementation uses efficient circular buffers for all three period calculations, maintaining O(1) time complexity per bar. The algorithm properly handles true range calculations including gaps and ensures accurate buying pressure measurements across all timeframes.
## Interpretation Details
ULTOSC provides several analytical perspectives:
* **Overbought/Oversold conditions:** Values above 70 suggest overbought conditions, below 30 suggest oversold conditions
* **Momentum direction:** Rising ULTOSC indicates increasing buying pressure, falling indicates increasing selling pressure
* **Divergence analysis:** Divergences between ULTOSC and price often precede significant reversals
* **Trend confirmation:** ULTOSC direction can confirm or question the prevailing price trend
* **Signal quality:** Extreme readings (>80 or <20) indicate strong momentum that may be unsustainable
* **Multiple timeframe consensus:** When all three underlying periods agree, signals are typically more reliable
## Trading Applications
**Primary Uses:**
- **Divergence trading:** Identify when momentum diverges from price for reversal signals
- **Overbought/oversold identification:** Find potential entry/exit points at extreme levels
- **Trend confirmation:** Validate breakouts and trend continuations
- **Momentum analysis:** Assess the strength of current price movements
**Advanced Strategies:**
- **Multi-divergence confirmation:** Look for divergences across multiple timeframes
- **Momentum breakouts:** Trade when ULTOSC breaks above/below key levels with volume
- **Swing trading entries:** Use oversold/overbought levels for swing position entries
- **Trend strength assessment:** Evaluate trend quality using momentum consistency
## Signal Combinations
**Strong Bullish Signals:**
- ULTOSC rises from oversold territory (<30) with positive price divergence
- ULTOSC breaks above 50 after forming a base near 30
- All three underlying periods show increasing buying pressure
**Strong Bearish Signals:**
- ULTOSC falls from overbought territory (>70) with negative price divergence
- ULTOSC breaks below 50 after forming a top near 70
- All three underlying periods show decreasing buying pressure
**Divergence Signals:**
- **Bullish divergence:** Price makes lower lows while ULTOSC makes higher lows
- **Bearish divergence:** Price makes higher highs while ULTOSC makes lower highs
- **Hidden bullish divergence:** Price makes higher lows while ULTOSC makes lower lows (trend continuation)
- **Hidden bearish divergence:** Price makes lower highs while ULTOSC makes higher highs (trend continuation)
## Comparison with Related Oscillators
| Indicator | Periods | Focus | Best Use Case |
|-----------|---------|-------|---------------|
| **Ultimate Oscillator** | 3 periods | Buying pressure | Divergence detection |
| **Stochastic** | 1-2 periods | Price position | Overbought/oversold |
| **RSI** | 1 period | Price momentum | Momentum analysis |
| **Williams %R** | 1 period | Price position | Short-term signals |
## Advanced Configurations
**Fast Trading Setup:**
- Fast: 5, Medium: 10, Slow: 20
- Weights: 4/2/1, Thresholds: 75/25
**Standard Setup:**
- Fast: 7, Medium: 14, Slow: 28
- Weights: 4/2/1, Thresholds: 70/30
**Conservative Setup:**
- Fast: 14, Medium: 28, Slow: 56
- Weights: 3/2/1, Thresholds: 65/35
**Divergence Focused:**
- Fast: 7, Medium: 14, Slow: 28
- Weights: 2/2/2, Thresholds: 70/30
## Market-Specific Adjustments
**Volatile Markets:**
- Use longer periods (10/20/40) to reduce noise
- Consider higher threshold levels (75/25)
- Focus on extreme readings for signal quality
**Trending Markets:**
- Emphasize divergence analysis over absolute levels
- Look for momentum confirmation rather than reversal signals
- Use hidden divergences for trend continuation
**Range-Bound Markets:**
- Standard overbought/oversold levels work well
- Trade reversals from extreme levels
- Combine with support/resistance analysis
## Limitations and Considerations
* **Lagging component:** Contains inherent lag due to multiple moving average calculations
* **Complex calculation:** More computationally intensive than single-period oscillators
* **Parameter sensitivity:** Performance varies significantly with different period/weight combinations
* **Market dependency:** Most effective in trending markets with clear momentum patterns
* **False divergences:** Not all divergences lead to significant price reversals
* **Whipsaw potential:** Can generate conflicting signals in choppy markets
## Best Practices
**Effective Usage:**
- Focus on divergences rather than absolute overbought/oversold levels
- Combine with trend analysis for context
- Use multiple timeframe analysis for confirmation
- Pay attention to the speed of momentum changes
**Common Mistakes:**
- Over-relying on overbought/oversold levels in strong trends
- Ignoring the underlying trend direction
- Using inappropriate period settings for the market being analyzed
- Trading every divergence without additional confirmation
**Signal Enhancement:**
- Combine with volume analysis for confirmation
- Use price action context (support/resistance levels)
- Consider market volatility when setting thresholds
- Look for convergence across multiple momentum indicators
## Historical Context and Development
The Ultimate Oscillator was developed by Larry Williams and introduced in his 1985 article "The Ultimate Oscillator" in Technical Analysis of Stocks and Commodities magazine. Williams designed it to address the limitations of single-period oscillators by:
- Reducing false signals through multi-timeframe analysis
- Maintaining sensitivity to short-term momentum changes
- Providing more reliable divergence signals
- Creating a more robust momentum measurement tool
The indicator has become a standard tool in technical analysis, particularly valued for its divergence detection capabilities and its balanced approach to momentum measurement.
## References
* Williams, L. R. (1985). The Ultimate Oscillator. Technical Analysis of Stocks and Commodities, 3(4).
* Williams, L. R. (1999). Long-Term Secrets to Short-Term Trading. Wiley Trading.
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Luxy BIG beautiful Dynamic ORBThis is an advanced Opening Range Breakout (ORB) indicator that tracks price breakouts from the first 5, 15, 30, and 60 minutes of the trading session. It provides complete trade management including entry signals, stop-loss placement, take-profit targets, and position sizing calculations.
The ORB strategy is based on the concept that the opening range of a trading session often acts as support/resistance, and breakouts from this range tend to lead to significant moves.
What Makes This Different?
Most ORB indicators simply draw horizontal lines and leave you to figure out the rest. This indicator goes several steps further:
Multi-Stage Tracking
Instead of just one ORB timeframe, this tracks FOUR simultaneously (5min, 15min, 30min, 60min). Each stage builds on the previous one, giving you multiple trading opportunities throughout the session.
Active Trade Management
When a breakout occurs, the indicator automatically calculates and displays entry price, stop-loss, and multiple take-profit targets. These lines extend forward and update in real-time until the trade completes.
Cycle Detection
Unlike indicators that only show the first breakout, this tracks the complete cycle: Breakout → Retest → Re-breakout. You can see when price returns to test the ORB level after breaking out (potential re-entry).
Failed Breakout Warning
If price breaks out but quickly returns inside the range (within a few bars), the label changes to "FAILED BREAK" - warning you to exit or avoid the trade.
Position Sizing Calculator
Built-in risk management that tells you exactly how many shares to buy based on your account size and risk tolerance. No more guessing or manual calculations.
Advanced Filtering
Optional filters for volume confirmation, trend alignment, and Fair Value Gaps (FVG) to reduce false signals and improve win rate.
Core Features Explained
### 1. Multi-Stage ORB Levels
The indicator builds four separate Opening Range levels:
ORB 5 - First 5 minutes (fastest signals, most volatile)
ORB 15 - First 15 minutes (balanced, most popular)
ORB 30 - First 30 minutes (slower, more reliable)
ORB 60 - First 60 minutes (slowest, most confirmed)
Each level is drawn as a horizontal range on your chart. As time progresses, the ranges expand to include more price action. You can enable or disable any stage and assign custom colors to each.
How it works: During the opening minutes, the indicator tracks the highest high and lowest low. Once the time period completes, those levels become your ORB high and low for that stage.
### 2. Breakout Detection
When price closes outside the ORB range, a label appears:
BREAK UP (green label above price) - Price closed above ORB High
BREAK DOWN (red label below price) - Price closed below ORB Low
The label shows which ORB stage triggered (ORB5, ORB15, etc.) and the cycle number if tracking multiple breakouts.
Important: Signals appear on bar close only - no repainting. What you see is what you get.
### 3. Retest Detection
After price breaks out and moves away, if it returns to test the ORB level, a "RETEST" label appears (orange). This indicates:
The original breakout level is now acting as support/resistance
Potential re-entry opportunity if you missed the first breakout
Confirmation that the level is significant
The indicator requires price to move a minimum distance away before considering it a valid retest (configurable in settings).
### 4. Failed Breakout Detection
If price breaks out but returns inside the ORB range within a few bars (before the breakout is "committed"), the original label changes to "FAILED BREAK" in orange.
This warns you:
The breakout lacked conviction
Consider exiting if already in the trade
Wait for better setup
Committed Breakout: The indicator tracks how many bars price stays outside the range. Only after staying outside for the minimum number of bars does it become a committed breakout that can be retested.
### 5. TP/SL Lines (Trade Management)
When a breakout occurs, colored horizontal lines appear showing:
Entry Line (cyan for long, orange for short) - Your entry price (the ORB level)
Stop Loss Line (red) - Where to exit if trade goes against you
TP1, TP2, TP3 Lines (same color as entry) - Profit targets at 1R, 2R, 3R
These lines extend forward as new bars form, making it easy to track your trade. When a target is hit, the line turns green and the label shows a checkmark.
Lines freeze (stop updating) when:
Stop loss is hit
The final enabled take-profit is hit
End of trading session (optional setting)
### 6. Position Sizing Dashboard
The dashboard (bottom-left corner by default) shows real-time information:
Current ORB stage and range size
Breakout status (Inside Range / Break Up / Break Down)
Volume confirmation (if filter enabled)
Trend alignment (if filter enabled)
Entry and Stop Loss prices
All enabled Take Profit levels with percentages
Risk/Reward ratio
Position sizing: Max shares to buy and total risk amount
Position Sizing Example:
If your account is $25,000 and you risk 1% per trade ($250), and the distance from entry to stop loss is $0.50, the calculator shows you can buy 500 shares (250 / 0.50 = 500).
### 7. FVG Filter (Fair Value Gap)
Fair Value Gaps are price inefficiencies - gaps left by strong momentum where one candle's high doesn't overlap with a previous candle's low (or vice versa).
When enabled, this filter:
Detects bullish and bearish FVGs
Draws semi-transparent boxes around these gaps
Only allows breakout signals if there's an FVG near the breakout level
Why this helps: FVGs indicate institutional activity. Breakouts through FVGs tend to be stronger and more reliable.
Proximity setting: Controls how close the FVG must be to the ORB level. 2.0x means the breakout can be within 2 times the FVG size - a reasonable default.
### 8. Volume & Trend Filters
Volume Filter:
Requires current volume to be above average (customizable multiplier). High volume breakouts are more likely to sustain.
Set minimum multiplier (e.g., 1.5x = 50% above average)
Set "strong volume" multiplier (e.g., 2.5x) that bypasses other filters
Dashboard shows current volume ratio
Trend Filter:
Only shows breakouts aligned with a higher timeframe trend. Choose from:
VWAP - Price above/below volume-weighted average
EMA - Price above/below exponential moving average
SuperTrend - ATR-based trend indicator
Combined modes (VWAP+EMA, VWAP+SuperTrend) for stricter filtering
### 9. Pullback Filter (Advanced)
Purpose:
Waits for price to pull back slightly after initial breakout before confirming the signal.
This reduces false breakouts from immediate reversals.
How it works:
- After breakout is detected, indicator waits for a small pullback (default 2%)
- Once pullback occurs AND price breaks out again, signal is confirmed
- If no pullback within timeout period (5 bars), signal is issued anyway
Settings:
Enable Pullback Filter: Turn this filter on/off
Pullback %: How much price must pull back (2% is balanced)
Timeout (bars): Max bars to wait for pullback (5 is standard)
When to use:
- Choppy markets with many fake breakouts
- When you want higher quality signals
- Combine with Volume filter for maximum confirmation
Trade-off:
- Better signal quality
- May miss some valid fast moves
- Slight entry delay
How to Use This Indicator
### For Beginners - Simple Setup
Add the indicator to your chart (5-minute or 15-minute timeframe recommended)
Leave all default settings - they work well for most stocks
Watch for BREAK UP or BREAK DOWN labels to appear
Check the dashboard for entry, stop loss, and targets
Use the position sizing to determine how many shares to buy
Basic Trading Plan:
Wait for a clear breakout label
Enter at the ORB level (or next candle open if you're late)
Place stop loss where the red line indicates
Take profit at TP1 (50% of position) and TP2 (remaining 50%)
### For Advanced Traders - Customized Setup
Choose which ORB stages to track (you might only want ORB15 and ORB30)
Enable filters: Volume (stocks) or Trend (trending markets)
Enable FVG filter for institutional confirmation
Set "Track Cycles" mode to catch retests and re-breakouts
Customize stop loss method (ATR for volatile stocks, ORB% for stable ones)
Adjust risk per trade and account size for accurate position sizing
Advanced Strategy Example:
Enable ORB15 only (disable others for cleaner chart)
Turn on Volume filter at 1.5x with Strong at 2.5x
Enable Trend filter using VWAP
Set Signal Mode to "Track Cycles" with Max 3 cycles
Wait for aligned breakouts (Volume + Trend + Direction)
Enter on retest if you missed the initial break
### Timeframe Recommendations
5-minute chart: Scalping, very active trading, crypto
15-minute chart: Day trading, balanced approach (most popular)
30-minute chart: Swing entries, less screen time
60-minute chart: Position trading, longer holds
The indicator works on any intraday timeframe, but ORB is fundamentally a day trading strategy. Daily charts don't make sense for ORB.
DEFAULT CONFIGURATION
ON by Default:
• All 4 ORB stages (5/15/30/60)
• Breakout Detection
• Retest Labels
• All TP levels (1/1.5/2/3)
• TP/SL Lines (Detailed mode)
• Dashboard (Bottom Left, Dark theme)
• Position Size Calculator
OFF by Default (Optional Filters):
• FVG Filter
• Pullback Filter
• Volume Filter
• Trend Filter
• HTF Bias Check
• Alerts
Recommended for Beginners:
• Leave all defaults
• Session Mode: Auto-Detect
• Signal Mode: Track Cycles
• Stop Method: ATR
• Add Volume Filter if trading stocks
Recommended for Advanced:
• Enable ORB15 + ORB30 only (disable 5 & 60)
• Enable: Volume + Trend + FVG
• Signal Mode: Track Cycles, Max 3
• Stop Method: ATR or Safer
• Enable HTF Daily bias check
## Settings Guide
The settings are organized into logical groups. Here's what each section controls:
### ORB COLORS Section
Show Edge Labels: Display "ORB 5", "ORB 15" labels at the right edge of the levels
Background: Fill the area between ORB high/low with color
Transparency: How see-through the background is (95% is nearly invisible)
Enable ORB 5/15/30/60: Turn each stage on or off individually
Colors: Assign colors to each ORB stage for easy identification
### SESSION SETTINGS Section
Session Mode: Choose trading session (Auto-Detect works for most instruments)
Custom Session Hours: Define your own hours if needed (format: HHMM-HHMM)
Auto-Detect uses the instrument's natural hours (stocks use exchange hours, crypto uses 24/7).
### BREAKOUT DETECTION Section
Enable Breakout Detection: Master switch for signals
Show Retest Labels: Display retest signals
Label Size: Visual size for all labels (Small recommended)
Enable FVG Filter: Require Fair Value Gap confirmation
Show FVG Boxes: Display the gap boxes on chart
Signal Mode: "First Only" = one signal per direction per day, "Track Cycles" = multiple signals
Max Cycles: How many breakout-retest cycles to track (6 is balanced)
Breakout Buffer: Extra distance required beyond ORB level (0.1-0.2% recommended)
Min Distance for Retest: How far price must move away before retest is valid (2% recommended)
Min Bars Outside ORB: Bars price must stay outside for committed breakout (2 is balanced)
### TARGETS & RISK Section
Enable Targets & Stop-Loss: Calculate and show trade management
TP1/TP2/TP3 checkboxes: Select which profit targets to display
Stop Method: How to calculate stop loss placement
- ATR: Based on volatility (best for most cases)
- ORB %: Fixed % of ORB range
- Swing: Recent swing high/low
- Safer: Widest of all methods
ATR Length & Multiplier: Controls ATR stop distance (14 period, 1.5x is standard)
ORB Stop %: Percentage beyond ORB for stop (20% is balanced)
Swing Bars: Lookback period for swing high/low (3 is recent)
### TP/SL LINES Section
Show TP/SL Lines: Display horizontal lines on chart
Label Format: "Short" = minimal text, "Detailed" = shows prices
Freeze Lines at EOD: Stop extending lines at session close
### DASHBOARD Section
Show Info Panel: Display the metrics dashboard
Theme: Dark or Light colors
Position: Where to place dashboard on chart
Toggle rows: Show/hide specific information rows
Calculate Position Size: Enable the position sizing calculator
Risk Mode: Risk fixed $ amount or % of account
Account Size: Your total trading capital
Risk %: Percentage to risk per trade (0.5-1% recommended)
### VOLUME FILTER Section
Enable Volume Filter: Require volume confirmation
MA Length: Average period (20 is standard)
Min Volume: Required multiplier (1.5x = 50% above average)
Strong Volume: Multiplier that bypasses other filters (2.5x)
### TREND FILTER Section
Enable Trend Filter: Require trend alignment
Trend Mode: Method to determine trend (VWAP is simple and effective)
Custom EMA Length: If using EMA mode (50 for swing, 20 for day trading)
SuperTrend settings: Period and Multiplier if using SuperTrend mode
### HIGHER TIMEFRAME Section
Check Daily Trend: Display higher timeframe bias in dashboard
Timeframe: What TF to check (D = daily, recommended)
Method: Price vs MA (stable) or Candle Direction (reactive)
MA Period: EMA length for Price vs MA method (20 is balanced)
Min Strength %: Minimum strength threshold for HTF bias to be considered
- For "Price vs MA": Minimum distance (%) from moving average
- For "Candle Direction": Minimum candle body size (%)
- 0.5% is balanced - increase for stricter filtering
- Lower values = more signals, higher values = only strong trends
### ALERTS Section
Enable Alerts: Master switch (must be ON to use any alerts)
Breakout Alerts: Notify on ORB breakouts
Retest Alerts: Notify when price retests after breakout
Failed Break Alerts: Notify on failed breakouts
Stage Complete Alerts: Notify when each ORB stage finishes forming
After enabling desired alert types, click "Create Alert" button, select this indicator, choose "Any alert() function call".
## Tips & Best Practices
### General Trading Tips
ORB works best on liquid instruments (stocks with good volume, major crypto pairs)
First hour of the session is most important - that's when ORB is forming
Breakouts WITH the trend have higher success rates - use the trend filter
Failed breakouts are common - use the "Min Bars Outside" setting to filter weak moves
Not every day produces good ORB setups - be patient and selective
### Position Sizing Best Practices
Never risk more than 1-2% of your account on a single trade
Use the built-in calculator - don't guess your position size
Update your account size monthly as it grows
Smaller accounts: use $ Amount mode for simplicity
Larger accounts: use % of Account mode for scaling
### Take Profit Strategy
Most traders use: 50% at TP1, 50% at TP2
Aggressive: Hold through TP1 for TP2 or TP3
Conservative: Full exit at TP1 (1:1 risk/reward)
After TP1 hits, consider moving stop to breakeven
TP3 rarely hits - only on strong trending days
### Filter Combinations
Maximum Quality: Volume + Trend + FVG (fewest signals, highest quality)
Balanced: Volume + Trend (good quality, reasonable frequency)
Active Trading: No filters or Volume only (many signals, lower quality)
Trending Markets: Trend filter essential (indices, crypto)
Range-Bound: Volume + FVG (avoid trend filter)
### Common Mistakes to Avoid
Chasing breakouts - wait for the bar to close, don't FOMO into wicks
Ignoring the stop loss - always use it, move it manually if needed
Over-leveraging - the calculator shows MAX shares, you can buy less
Trading every signal - quality > quantity, use filters
Not tracking results - keep a journal to see what works for YOU
## Pros and Cons
### Advantages
Complete all-in-one solution - from signal to position sizing
Multiple timeframes tracked simultaneously
Visual clarity - easy to see what's happening
Cycle tracking catches opportunities others miss
Built-in risk management eliminates guesswork
Customizable filters for different trading styles
No repainting - what you see is locked in
Works across multiple markets (stocks, forex, crypto)
### Limitations
Intraday strategy only - doesn't work on daily charts
Requires active monitoring during first 1-2 hours of session
Not suitable for after-hours or extended sessions by default
Can produce many signals in choppy markets (use filters)
Dashboard can be overwhelming for complete beginners
Performance depends on market conditions (trends vs ranges)
Requires understanding of risk management concepts
### Best For
Day traders who can watch the first 1-2 hours of market open
Traders who want systematic entry/exit rules
Those learning proper position sizing and risk management
Active traders comfortable with multiple signals per day
Anyone trading liquid instruments with clear sessions
### Not Ideal For
Swing traders holding multi-day positions
Set-and-forget / passive investors
Traders who can't watch market open
Complete beginners unfamiliar with trading concepts
Low volume / illiquid instruments
## Frequently Asked Questions
Q: Why are no signals appearing?
A: Check that you're on an intraday timeframe (5min, 15min, etc.) and that the current time is within your session hours. Also verify that "Enable Breakout Detection" is ON and at least one ORB stage is enabled. If using filters, they might be blocking signals - try disabling them temporarily.
Q: What's the best ORB stage to use?
A: ORB15 (15 minutes) is most popular and balanced. ORB5 gives faster signals but more noise. ORB30 and ORB60 are slower but more reliable. Many traders use ORB15 + ORB30 together.
Q: Should I enable all the filters?
A: Start with no filters to see all signals. If too many false signals, add Volume filter first (stocks) or Trend filter (trending markets). FVG filter is most restrictive - use for maximum quality but fewer signals.
Q: How do I know which stop loss method to use?
A: ATR works for most cases - it adapts to volatility. Use ORB% if you want predictable stop placement. Swing is for respecting chart structure. Safer gives you the most room but largest risk.
Q: Can I use this for swing trading?
A: Not really - ORB is fundamentally an intraday strategy. The ranges reset each day. For swing trading, look at weekly support/resistance or moving averages instead.
Q: Why do TP/SL lines disappear sometimes?
A: Lines freeze (stop extending) when: stop loss is hit, the last enabled take-profit is hit, or end of session arrives (if "Freeze at EOD" is enabled). This is intentional - the trade is complete.
Q: What's the difference between "First Only" and "Track Cycles"?
A: "First Only" shows one breakout UP and one DOWN per day maximum - clean but might miss opportunities. "Track Cycles" shows breakout-retest-rebreak sequences - more signals but busier chart.
Q: Is position sizing accurate for options/forex?
A: The calculator is designed for shares (stocks). For options, ignore the share count and use the risk amount. For forex, you'll need to adapt the lot size calculation manually.
Q: How much capital do I need to use this?
A: The indicator works for any account size, but practical day trading typically requires $25,000 in the US due to Pattern Day Trader rules. Adjust the "Account Size" setting to match your capital.
Q: Can I backtest this strategy?
A: This is an indicator, not a strategy script, so it doesn't have built-in backtesting. You can visually review historical signals or code a strategy script using similar logic.
Q: Why does the dashboard show different entry price than the breakout label?
A: If you're looking at an old breakout, the ORB levels may have changed when the next stage completed. The dashboard always shows the CURRENT active range and trade setup.
Q: What's a good win rate to expect?
A: ORB strategies typically see 40-60% win rate depending on market conditions and filters used. The strategy relies on positive risk/reward ratios (2:1 or better) to be profitable even with moderate win rates.
Q: Does this work on crypto?
A: Yes, but crypto trades 24/7 so you need to define what "session start" means. Use Session Mode = Custom and set your preferred daily reset time (e.g., 0000-2359 UTC).
## Credits & Transparency
### Development
This indicator was developed with the assistance of AI technology to implement complex ORB trading logic.
The strategy concept, feature specifications, and trading logic were designed by the publisher. The implementation leverages modern development tools to ensure:
Clean, efficient, and maintainable code
Comprehensive error handling and input validation
Detailed documentation and user guidance
Performance optimization
### Trading Concepts
This indicator implements several public domain trading concepts:
Opening Range Breakout (ORB): Trading strategy popularized by Toby Crabel, Mark Fisher and many more talanted traders.
Fair Value Gap (FVG): Price imbalance concept from ICT methodology
SuperTrend: ATR-based trend indicator using public formula
Risk/Reward Ratio: Standard risk management principle
All mathematical formulas and technical concepts used are in the public domain.
### Pine Script
Uses standard TradingView built-in functions:
ta.ema(), ta.atr(), ta.vwap(), ta.highest(), ta.lowest(), request.security()
No external libraries or proprietary code from other authors.
## Disclaimer
This indicator is provided for educational and informational purposes only. It is not financial advice.
Trading involves substantial risk of loss and is not suitable for every investor. Past performance shown in examples is not indicative of future results.
The indicator provides signals and calculations, but trading decisions are solely your responsibility. Always:
Test strategies on paper before using real money
Never risk more than you can afford to lose
Understand that all trading involves risk
Consider seeking advice from a licensed financial advisor
The publisher makes no guarantees regarding accuracy, profitability, or performance. Use at your own risk.
---
Version: 3.0
Pine Script Version: v6
Last Updated: October 2024
For support, questions, or suggestions, please comment below or send a private message.
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Happy trading, and remember: consistent risk management beats perfect entry timing every time.
Zero Lag Trend Signals (MTF) [Quant Trading] V7Overview
The Zero Lag Trend Signals (MTF) V7 is a comprehensive trend-following strategy that combines Zero Lag Exponential Moving Average (ZLEMA) with volatility-based bands to identify high-probability trade entries and exits. This strategy is designed to reduce lag inherent in traditional moving averages while incorporating dynamic risk management through ATR-based stops and multiple exit mechanisms.
This is a longer term horizon strategy that takes limited trades. It is not a high frequency trading and therefore will also have limited data and not > 100 trades.
How It Works
Core Signal Generation:
The strategy uses a Zero Lag EMA (ZLEMA) calculated by applying an EMA to price data that has been adjusted for lag:
Calculate lag period: floor((length - 1) / 2)
Apply lag correction: src + (src - src )
Calculate ZLEMA: EMA of lag-corrected price
Volatility bands are created using the highest ATR over a lookback period multiplied by a band multiplier. These bands are added to and subtracted from the ZLEMA line to create upper and lower boundaries.
Trend Detection:
The strategy maintains a trend variable that switches between bullish (1) and bearish (-1):
Long Signal: Triggers when price crosses above ZLEMA + volatility band
Short Signal: Triggers when price crosses below ZLEMA - volatility band
Optional ZLEMA Trend Confirmation:
When enabled, this filter requires ZLEMA to show directional momentum before entry:
Bullish Confirmation: ZLEMA must increase for 4 consecutive bars
Bearish Confirmation: ZLEMA must decrease for 4 consecutive bars
This additional filter helps avoid false signals in choppy or ranging markets.
Risk Management Features:
The strategy includes multiple stop-loss and take-profit mechanisms:
Volatility-Based Stops: Default stop-loss is placed at ZLEMA ± volatility band
ATR-Based Stops: Dynamic stop-loss calculated as entry price ± (ATR × multiplier)
ATR Trailing Stop: Ratcheting stop-loss that follows price but never moves against position
Risk-Reward Profit Target: Take-profit level set as a multiple of stop distance
Break-Even Stop: Moves stop to entry price after reaching specified R:R ratio
Trend-Based Exit: Closes position when price crosses EMA in opposite direction
Performance Tracking:
The strategy includes optional features for monitoring and analyzing trades:
Floating Statistics Table: Displays key metrics including win rate, GOA (Gain on Account), net P&L, and max drawdown
Trade Log Labels: Shows entry/exit prices, P&L, bars held, and exit reason for each closed trade
CSV Export Fields: Outputs trade data for external analysis
Default Strategy Settings
Commission & Slippage:
Commission: 0.1% per trade
Slippage: 3 ticks
Initial Capital: $1,000
Position Size: 100% of equity per trade
Main Calculation Parameters:
Length: 70 (range: 70-7000) - Controls ZLEMA calculation period
Band Multiplier: 1.2 - Adjusts width of volatility bands
Entry Conditions (All Disabled by Default):
Use ZLEMA Trend Confirmation: OFF - Requires ZLEMA directional momentum
Re-Enter on Long Trend: OFF - Allows multiple entries during sustained trends
Short Trades:
Allow Short Trades: OFF - Strategy is long-only by default
Performance Settings (All Disabled by Default):
Use Profit Target: OFF
Profit Target Risk-Reward Ratio: 2.0 (when enabled)
Dynamic TP/SL (All Disabled by Default):
Use ATR-Based Stop-Loss & Take-Profit: OFF
ATR Length: 14
Stop-Loss ATR Multiplier: 1.5
Profit Target ATR Multiplier: 2.5
Use ATR Trailing Stop: OFF
Trailing Stop ATR Multiplier: 1.5
Use Break-Even Stop-Loss: OFF
Move SL to Break-Even After RR: 1.5
Use Trend-Based Take Profit: OFF
EMA Exit Length: 9
Trade Data Display (All Disabled by Default):
Show Floating Stats Table: OFF
Show Trade Log Labels: OFF
Enable CSV Export: OFF
Trade Label Vertical Offset: 0.5
Backtesting Date Range:
Start Date: January 1, 2018
End Date: December 31, 2069
Important Usage Notes
Default Configuration: The strategy operates in its most basic form with default settings - using only ZLEMA crossovers with volatility bands and volatility-based stop-losses. All advanced features must be manually enabled.
Stop-Loss Priority: If multiple stop-loss methods are enabled simultaneously, the strategy will use whichever condition is hit first. ATR-based stops override volatility-based stops when enabled.
Long-Only by Default: Short trading is disabled by default. Enable "Allow Short Trades" to trade both directions.
Performance Monitoring: Enable the floating stats table and trade log labels to visualize strategy performance during backtesting.
Exit Mechanisms: The strategy can exit trades through multiple methods: stop-loss hit, take-profit reached, trend reversal, or trailing stop activation. The trade log identifies which exit method was used.
Re-Entry Logic: When "Re-Enter on Long Trend" is enabled with ZLEMA trend confirmation, the strategy can take multiple long positions during extended uptrends as long as all entry conditions remain valid.
Capital Efficiency: Default setting uses 100% of equity per trade. Adjust "default_qty_value" to manage position sizing based on risk tolerance.
Realistic Backtesting: Strategy includes commission (0.1%) and slippage (3 ticks) to provide realistic performance expectations. These values should be adjusted based on your broker and market conditions.
Recommended Use Cases
Trending Markets: Best suited for markets with clear directional moves where trend-following strategies excel
Medium to Long-Term Trading: The default length of 70 makes this strategy more appropriate for swing trading rather than scalping
Risk-Conscious Traders: Multiple stop-loss options allow traders to customize risk management to their comfort level
Backtesting & Optimization: Comprehensive performance tracking features make this strategy ideal for testing different parameter combinations
Limitations & Considerations
Like all trend-following strategies, performance may suffer in choppy or ranging markets
Default 100% position sizing means full capital exposure per trade - consider reducing for conservative risk management
Higher length values (70+) reduce signal frequency but may improve signal quality
Multiple simultaneous risk management features may create conflicting exit signals
Past performance shown in backtests does not guarantee future results
Customization Tips
For more aggressive trading:
Reduce length parameter (minimum 70)
Decrease band multiplier for tighter bands
Enable short trades
Use lower profit target R:R ratios
For more conservative trading:
Increase length parameter
Enable ZLEMA trend confirmation
Use wider ATR stop-loss multipliers
Enable break-even stop-loss
Reduce position size from 100% default
For optimal choppy market performance:
Enable ZLEMA trend confirmation
Increase band multiplier
Use tighter profit targets
Avoid re-entry on trend continuation
Visual Elements
The strategy plots several elements on the chart:
ZLEMA line (color-coded by trend direction)
Upper and lower volatility bands
Long entry markers (green triangles)
Short entry markers (red triangles, when enabled)
Stop-loss levels (when positions are open)
Take-profit levels (when enabled and positions are open)
Trailing stop lines (when enabled and positions are open)
Optional ZLEMA trend markers (triangles at highs/lows)
Optional trade log labels showing complete trade information
Exit Reason Codes (for CSV Export)
When CSV export is enabled, exit reasons are coded as:
0 = Manual/Other
1 = Trailing Stop-Loss
2 = Profit Target
3 = ATR Stop-Loss
4 = Trend Change
Conclusion
Zero Lag Trend Signals V7 provides a robust framework for trend-following with extensive customization options. The strategy balances simplicity in its core logic with sophisticated risk management features, making it suitable for both beginner and advanced traders. By reducing moving average lag while incorporating volatility-based signals, it aims to capture trends earlier while managing risk through multiple configurable exit mechanisms.
The modular design allows traders to start with basic trend-following and progressively add complexity through ZLEMA confirmation, multiple stop-loss methods, and advanced exit strategies. Comprehensive performance tracking and export capabilities make this strategy an excellent tool for systematic testing and optimization.
Note: This strategy is provided for educational and backtesting purposes. All trading involves risk. Past performance does not guarantee future results. Always test thoroughly with paper trading before risking real capital, and adjust position sizing and risk parameters according to your risk tolerance and account size.
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TAGS:
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trend following, ZLEMA, zero lag, volatility bands, ATR stops, risk management, swing trading, momentum, trend confirmation, backtesting
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CATEGORY:
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Strategies
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CHART SETUP RECOMMENDATIONS:
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For optimal visualization when publishing:
Use a clean chart with no other indicators overlaid
Select a timeframe that shows multiple trade signals (4H or Daily recommended)
Choose a trending asset (crypto, forex major pairs, or trending stocks work well)
Show at least 6-12 months of data to demonstrate strategy across different market conditions
Enable the floating stats table to display key performance metrics
Ensure all indicator lines (ZLEMA, bands, stops) are clearly visible
Use the default chart type (candlesticks) - avoid Heikin Ashi, Renko, etc.
Make sure symbol information and timeframe are clearly visible
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COMPLIANCE NOTES:
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✅ Open-source publication with complete code visibility
✅ English-only title and description
✅ Detailed explanation of methodology and calculations
✅ Realistic commission (0.1%) and slippage (3 ticks) included
✅ All default parameters clearly documented
✅ Performance limitations and risks disclosed
✅ No unrealistic claims about performance
✅ No guaranteed results promised
✅ Appropriate for public library (original trend-following implementation with ZLEMA)
✅ Educational disclaimers included
✅ All features explained in detail
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MESA Adaptive Ehlers Flow | AlphaNattMESA Adaptive Ehlers Flow | AlphaNatt
An advanced adaptive indicator based on John Ehlers' MESA (Maximum Entropy Spectrum Analysis) algorithm that automatically adjusts to market cycles in real-time, providing superior trend identification with minimal lag across all market conditions.
🎯 What Makes This Indicator Revolutionary?
Unlike traditional moving averages with fixed parameters, this indicator uses Hilbert Transform mathematics to detect the dominant market cycle and adapts its responsiveness accordingly:
Automatically detects market cycles using advanced signal processing
MAMA (MESA Adaptive Moving Average) adapts from fast to slow based on cycle phase
FAMA (Following Adaptive Moving Average) provides confirmation signals
Dynamic volatility bands that expand and contract with cycle detection
Zero manual optimization required - the indicator tunes itself
📊 Core Components
1. MESA Adaptive Moving Average (MAMA)
The MAMA is the crown jewel of adaptive indicators. It uses the Hilbert Transform to measure the market's dominant cycle and adjusts its smoothing factor in real-time:
During trending phases: Responds quickly to capture moves
During choppy phases: Smooths heavily to filter noise
Transition is automatic and seamless based on price action
Parameters:
Fast Limit: Maximum responsiveness (default: 0.5) - how fast the indicator can adapt
Slow Limit: Minimum responsiveness (default: 0.05) - maximum smoothing during consolidation
2. Following Adaptive Moving Average (FAMA)
The FAMA is a slower version of MAMA that follows the primary signal. The relationship between MAMA and FAMA provides powerful trend confirmation:
MAMA > FAMA: Bullish trend in progress
MAMA < FAMA: Bearish trend in progress
Crossovers signal potential trend changes
3. Hilbert Transform Cycle Detection
The indicator employs sophisticated DSP (Digital Signal Processing) techniques:
Detects the dominant cycle period (1.5 to 50 bars)
Measures phase relationships in the price data
Calculates adaptive alpha values based on cycle dynamics
Continuously updates as market character changes
⚡ Key Features
Adaptive Alpha Calculation
The indicator's "intelligence" comes from its adaptive alpha:
Alpha dynamically adjusts between Fast Limit and Slow Limit based on the rate of phase change in the market cycle. Rapid phase changes trigger faster adaptation, while stable cycles maintain smoother response.
Dynamic Volatility Bands
Unlike static bands, these adapt to both ATR volatility AND the current cycle state:
Bands widen when the indicator detects fast adaptation (trending)
Bands narrow during slow adaptation (consolidation)
Band Multiplier controls overall width (default: 1.5)
Provides context-aware support and resistance
Intelligent Color Coding
Cyan: Bullish regime (MAMA > FAMA and price > MAMA)
Magenta: Bearish regime (MAMA < FAMA and price < MAMA)
Gray: Neutral/transitional state
📈 Trading Strategies
Trend Following Strategy
The MESA indicator excels at identifying and riding strong trends while automatically reducing sensitivity during choppy periods.
Entry Signals:
Long: MAMA crosses above FAMA with price closing above MAMA
Short: MAMA crosses below FAMA with price closing below MAMA
Exit/Management:
Exit longs when MAMA crosses below FAMA
Exit shorts when MAMA crosses above FAMA
Use dynamic bands as trailing stop references
Mean Reversion Strategy
When price extends beyond the dynamic bands during established trends, look for bounces back toward the MAMA line.
Setup Conditions:
Strong trend confirmed by MAMA/FAMA alignment
Price touches or exceeds outer band
Enter on first sign of reversal toward MAMA
Target: Return to MAMA line or opposite band
Cycle-Based Swing Trading
The indicator's cycle detection makes it ideal for swing trading:
Enter on MAMA/FAMA crossovers
Hold through the detected cycle period
Exit on counter-crossover or band extremes
Works exceptionally well on 4H to Daily timeframes
🔬 Technical Background
The Hilbert Transform
The Hilbert Transform is a mathematical operation used in signal processing to extract instantaneous phase and frequency information from a signal. In trading applications:
Separates trend from cycle components
Identifies the dominant market cycle without curve-fitting
Provides leading indicators of trend changes
MESA Algorithm Components
Smoothing: 4-bar weighted moving average for noise reduction
Detrending: Removes linear price trend to isolate cycles
InPhase & Quadrature: Orthogonal components for phase measurement
Homodyne Discriminator: Calculates instantaneous period
Adaptive Alpha: Converts period to smoothing factor
MAMA/FAMA: Final adaptive moving averages
⚙️ Optimization Guide
Fast Limit (0.1 - 0.9)
Higher values (0.5-0.9): More responsive, better for volatile markets and lower timeframes
Lower values (0.1-0.3): Smoother response, better for stable markets and higher timeframes
Default 0.5: Balanced for most applications
Slow Limit (0.01 - 0.1)
Higher values (0.05-0.1): Less smoothing during consolidation, more signals
Lower values (0.01-0.03): Heavy smoothing during chop, fewer but cleaner signals
Default 0.05: Good noise filtering while maintaining responsiveness
Band Multiplier (0.5 - 3.0)
Adjust based on instrument volatility
Backtest to find optimal value for your specific market
1.5 works well for most forex and equity indices
Consider higher values (2.0-2.5) for cryptocurrencies
🎨 Visual Interpretation
The gradient visualization shows probability zones around the MESA line:
MESA line: The adaptive trend center
Band expansion: Indicates strong cycle detection and trending
Band contraction: Indicates consolidation or ranging market
Color intensity: Shows confidence in trend direction
💡 Best Practices
Let it adapt: Give the indicator 50+ bars to properly calibrate to the market
Combine timeframes: Use higher timeframe MESA for trend bias, lower for entries
Respect the bands: Price rarely stays outside bands for extended periods
Watch for compression: Narrow bands often precede explosive moves
Volume confirmation: Combine with volume for higher probability setups
📊 Optimal Timeframes
15m - 1H: Day trading with Fast Limit 0.6-0.8
4H - Daily: Swing trading with Fast Limit 0.4-0.6 (recommended)
Weekly: Position trading with Fast Limit 0.2-0.4
⚠️ Important Considerations
The indicator needs time to "learn" the market - avoid trading the first 50 bars after applying
Extreme gap events can temporarily disrupt cycle calculations
Works best in markets with detectable cyclical behavior
Less effective during news events or extreme volatility spikes
Consider the detected cycle period for position holding times
🔍 What Makes MESA Superior?
Compared to traditional indicators:
vs. Fixed MAs: Automatically adjusts to market conditions instead of using one-size-fits-all parameters
vs. Other Adaptive MAs: Uses true DSP mathematics rather than simple volatility adjustments
vs. Manual Optimization: Continuously re-optimizes itself in real-time
vs. Lagging Indicators: Hilbert Transform provides earlier trend change detection
🎓 Understanding Adaptation
The magic of MESA is that it solves the eternal dilemma of technical analysis: be fast and get whipsawed in chop, or be smooth and miss the early move. MESA does both by detecting when to be fast and when to be smooth.
Adaptation in Action:
Strong trend starts → MESA quickly detects phase change → Fast Limit kicks in → Early entry
Trend continues → Phase stabilizes → MESA maintains moderate speed → Smooth ride
Consolidation begins → Phase changes slow → Slow Limit engages → Whipsaw avoidance
🚀 Advanced Applications
Multi-timeframe confluence: Use MESA on 3 timeframes for high-probability setups
Divergence detection: Watch for MAMA/price divergences at band extremes
Cycle period analysis: The internal period calculation can guide position duration
Band squeeze trading: Narrow bands + MAMA/FAMA cross = high-probability breakout
Created by AlphaNatt - Based on John Ehlers' MESA research. For educational purposes. Always practice proper risk management. Not financial advice. Always DYOR.
HermesHERMES STRATEGY - TRADINGVIEW DESCRIPTION
OVERVIEW
Hermes is an adaptive trend-following strategy that uses dual ALMA (Arnaud Legoux Moving Average) filters to identify high-quality entry and exit points. It's designed for swing and position traders who want smooth, low-lag signals with minimal whipsaws.
Unlike traditional moving averages that operate on price, Hermes analyzes price returns (percentage changes) to create signals that work consistently across any asset class and price range.
HOW IT WORKS
DUAL ALMA SYSTEM
The strategy uses two ALMA lines applied to price returns:
• Fast ALMA (Blue Line): Short-term trend signal (default: 80 periods)
• Slow ALMA (Black Line): Long-term baseline trend (default: 250 periods)
ALMA is superior to simple or exponential moving averages because it provides:
• Smoother curves with less noise
• Significantly reduced lag
• Natural resistance to outliers and flash crashes
TRADING LOGIC
BUY SIGNAL:
• Fast ALMA crosses above Slow ALMA (bullish regime)
• Price makes new N-bar high (momentum confirmation)
• Optional: Price above 200 EMA (macro trend filter)
• Optional: ALMA lines sufficiently separated (strength filter)
SELL SIGNAL:
• Fast ALMA crosses below Slow ALMA (bearish regime)
• Optional: Price makes new N-bar low (momentum confirmation)
The strategy stays in position during the entire bullish regime, allowing you to ride trends for weeks or months.
VISUAL INDICATORS
LINES:
• Blue Line: Fast ALMA (short-term signal)
• Black Line: Slow ALMA (long-term baseline)
TRADE MARKERS:
• Green Triangle Up: Buy executed
• Red Triangle Down: Sell executed
• Orange "M": Buy blocked by momentum filter
• Purple "W": Buy blocked by weak crossover strength
KEY PARAMETERS
ALMA SETTINGS:
• Short Period (default: 30) - Fast signal responsiveness
• Long Period (default: 250) - Baseline stability
• ALMA Offset (default: 0.90) - Balance between lag and smoothness
• ALMA Sigma (default: 7.5) - Gaussian curve width
ENTRY/EXIT FILTERS:
• Buy Lookback (default: 7) - Bars for momentum confirmation (required)
• Sell Lookback (default: 0) - Exit momentum bars (0 = disabled for faster exits)
• Min Crossover Strength (default: 0.0) - Required ALMA separation (0 = disabled)
• Use Macro Filter (default: true) - Only enter above 200 EMA
BEST PRACTICES
RECOMMENDED ASSETS - Works well on:
• Cryptocurrencies (Bitcoin, Ethereum, etc.)
• Major indices (S&P 500, Nasdaq)
• Large-cap stocks
• Commodities (Gold, Oil)
RECOMMENDED TIMEFRAMES:
• Daily: Primary timeframe for swing trading
• 4-Hour: More active trading (increase trade frequency)
• Weekly: Long-term position trading
PARAMETER TUNING:
• More trades: Lower Short Period (60-80)
• Fewer trades: Raise Short Period (100-120)
• Faster exits: Set Sell Lookback = 0
• Safer entries: Enable Macro Filter (Use Macro Filter = true)
STRATEGY ADVANTAGES
1. Low Lag - ALMA provides faster signals than traditional moving averages
2. Smooth Signals - Minimal whipsaws compared to crossover strategies
3. Asset Agnostic - Same parameters work across different markets
4. Trend Capture - Stays positioned during entire bullish regimes
5. Risk Management - Multiple filters prevent poor entries
6. Visual Clarity - Easy to interpret regime and filter states
WHEN TO USE HERMES
BEST FOR:
• Trending markets (crypto bull runs, equity uptrends)
• Swing trading (hold days to weeks)
• Position trading (hold weeks to months)
• Clear trend identification
• Risk-managed exposure
NOT SUITABLE FOR:
• Ranging/sideways markets
• Scalping or day trading
• High-frequency trading
• Mean reversion strategies
RISK DISCLAIMER
This indicator is for educational purposes only. Past performance does not guarantee future results. Always use proper position sizing and risk management. Test thoroughly on historical data before live trading.
CREDITS
Inspired by Giovanni Santostasi's Power Law Volatility Indicator, generalized for universal application across all assets using adaptive ALMA filtering.
Strategy by Hermes Trading Systems
QUICK START
1. Add indicator to chart
2. Use on daily timeframe for best results
3. Look for green buy signals when blue line crosses above black line
4. Exit on red sell signals when blue line crosses below black line
5. Adjust parameters based on your trading style:
• Conservative: Enable Macro Filter, increase Buy Lookback to 10
• Aggressive: Disable Macro Filter, lower Short Period to 60
• Default settings work well for most assets
Scalper Pro Pattern Recognition & Price ActionOVERVIEW
Scalper Pro is a comprehensive multi-timeframe trading indicator that combines Smart Money Concepts (SMC) with traditional technical analysis to provide scalpers and day traders with high-probability entry and exit signals. This indicator integrates multiple analytical frameworks into a unified visual system designed specifically for short-term trading strategies.
ORIGINALITY & PURPOSE
What Makes This Script Original
This script is not a simple mashup of existing indicators. Instead, it represents a carefully orchestrated integration of complementary analytical methods that work together to solve a specific problem: identifying high-probability scalping opportunities in volatile markets.
The unique value proposition:
Adaptive Trend Filtering System - Combines a customized SuperTrend algorithm with dual-period range filters (Cirrus Cloud) and Hull Moving Average trend cloud to create a three-layer trend confirmation system
Smart Money Concepts Integration - Incorporates institutional trading concepts (Order Blocks, Fair Value Gaps, Break of Structure) with retail technical indicators for a complete market structure view
Dynamic Risk Management - Automatically calculates stop-loss and take-profit levels based on ATR volatility, providing objective position sizing
ADX-Based Market Regime Detection - Identifies ranging vs. trending markets through ADX analysis with visual bar coloring to prevent whipsaws during consolidation
Why Combine These Specific Components
Each component addresses a specific weakness in scalping:
SuperTrend provides the primary directional bias but can generate false signals in ranging markets
Range Filters smooth out noise and confirm trend direction, reducing SuperTrend false positives
ADX Analysis prevents trading during low-volatility consolidation when most indicators fail
SMC Elements identify institutional activity zones where price is likely to react strongly
ATR-Based Risk Management adapts position sizing to current volatility conditions
The synergy creates a system where signals are only generated when multiple confirmation layers align, significantly reducing false signals common in single-indicator approaches.
HOW IT WORKS
Core Calculation Methodology
1. SuperTrend Signal Generation
The script uses a modified SuperTrend algorithm with the following calculation:
ATR = Average True Range (default: 10 periods)
Factor = 7 (default sensitivity multiplier)
Upper Band = Source + (Factor × ATR)
Lower Band = Source - (Factor × ATR)
Directional Logic:
When price crosses above SuperTrend → Bullish signal
When price crosses below SuperTrend → Bearish signal
SuperTrend value is plotted as dynamic support/resistance
Key Modification: The sensitivity parameter (nsensitivity * 7) allows users to adjust the aggressiveness of trend detection without changing the core ATR calculation.
2. Range Filter System (Cirrus Cloud)
The Range Filter uses a smoothed range calculation to filter out market noise:
Smooth Range Calculation:
WPER = (Period × 2) - 1
AVRNG = EMA(|Price - Price |, Period)
Smooth Range = EMA(AVRNG, WPER) × Multiplier
Two-Layer System:
Layer 1: 22-period with 6x multiplier (broader trend)
Layer 2: 15-period with 5x multiplier (tighter price action)
Visual Output: The space between these two filters is colored:
Green fill = Bullish trend (Layer 1 > Layer 2)
Red fill = Bearish trend (Layer 1 < Layer 2)
This creates a "cloud" that expands during strong trends and contracts during consolidation.
3. ADX Market Regime Detection
Calculation:
+DM = Positive Directional Movement
-DM = Negative Directional Movement
True Range = RMA of True Range (15 periods)
+DI = 100 × RMA(+DM, 15) / True Range
-DI = 100 × RMA(-DM, 15) / True Range
ADX = 100 × RMA(|+DI - -DI| / (+DI + -DI), 15)
Threshold System:
ADX < Threshold (default 15) = Ranging market → Bar color changes to purple
ADX > Threshold = Trending market → Normal bar coloring applies
Purpose: This prevents taking trend-following signals during sideways markets where most indicators produce whipsaws.
4. Smart Money Concepts (SMC) Integration
Order Blocks (OB):
Identified using swing high/low detection with customizable pivot length
Bullish OB: Last down-close candle before bullish Break of Structure (BOS)
Bearish OB: Last up-close candle before bearish BOS
Extended forward until price breaks through them
Fair Value Gaps (FVG):
Detected when a three-candle gap exists:
Bullish FVG: Low > High
Bearish FVG: High < Low
Filtered by price delta percentage to ensure significant gaps
Displayed as boxes that delete when price fills the gap
Break of Structure (BOS) vs. Change of Character (CHoCH):
BOS = Price breaks the previous structural high/low in the current trend direction
CHoCH = Price breaks structure in the opposite direction (potential trend reversal)
Both internal (minor) and swing (major) structures are tracked
Equal Highs/Lows (EQH/EQL):
Detected when consecutive swing highs/lows are within ATR threshold
Often indicates liquidity pools that price may sweep before reversing
5. ATR-Based Risk Management
Calculation:
ATR Band = ATR(14) × Risk Multiplier (default 3%)
Stop Loss = Entry - ATR Band (for longs) or Entry + ATR Band (for shorts)
Take Profit Levels:
TP1 = Entry + (Entry - Stop Loss) × 1
TP2 = Entry + (Entry - Stop Loss) × 2
TP3 = Entry + (Entry - Stop Loss) × 3
Dynamic Labels: Stop loss and take profit levels are automatically calculated and displayed as labels on the chart when new signals trigger.
6. Hull Moving Average Trend Cloud
HMA = WMA(2 × WMA(Close, Period/2) - WMA(Close, Period), sqrt(Period))
Period = 600 bars (long-term trend)
The HMA provides a smoothed long-term trend reference that's more responsive than traditional moving averages while filtering out short-term noise.
HOW TO USE THE INDICATOR
Entry Signals
Primary Buy Signal:
SuperTrend changes to green (price crosses above)
ADX shows market is NOT ranging (bars are NOT purple)
Price is within or near a bullish Order Block OR bullish FVG
Cirrus Cloud shows green fill (Layer 1 > Layer 2)
Primary Sell Signal:
SuperTrend changes to red (price crosses below)
ADX shows market is NOT ranging
Price is within or near a bearish Order Block OR bearish FVG
Cirrus Cloud shows red fill (Layer 1 < Layer 2)
Confirmation Layers
Higher Probability Trades Include:
Bullish/Bearish BOS in the same direction as signal
Equal highs/lows being swept before entry
Price respecting premium/discount zones (above/below equilibrium)
Multiple timeframe alignment (use MTF settings)
Exit Strategy
The indicator provides three take-profit levels:
TP1: Conservative target (1:1 risk-reward)
TP2: Moderate target (2:1 risk-reward)
TP3: Aggressive target (3:1 risk-reward)
Suggested Exit Approach:
Close 1/3 position at TP1
Move stop to breakeven
Close 1/3 position at TP2
Trail remaining position or exit at TP3
Risk Management
Stop Loss:
Use the ATR-based stop loss level displayed on chart
Alternatively, use percentage-based stop (adjustable in settings)
Never risk more than 1-2% of account per trade
Position Sizing:
Position Size = (Account Risk $) / (Entry Price - Stop Loss Price)
CUSTOMIZABLE SETTINGS
Core Parameters
Buy/Sell Signals:
Toggle signals on/off
Adjust SuperTrend sensitivity (0.5 - 2.0)
Risk Management:
Show/hide TP/SL levels
ATR period (default: 14)
Risk percentage (default: 3%)
Number of decimal places for price labels
Trend Features:
Cirrus Cloud display toggle
Range filter periods (x1, x2, x3, x4)
Hull MA length for trend cloud
Smart Money Concepts:
Order Block settings (swing length, display count)
Fair Value Gap parameters (auto-threshold, extend length)
Structure detection (internal vs swing)
EQH/EQL threshold
ADX Settings:
ADX length (default: 15)
Sideways threshold (10-30, default: 15)
Bar color toggle
Display Options:
Previous day/week/month high/low levels
Premium/Discount/Equilibrium zones
Trend candle coloring (colored or monochrome)
BEST PRACTICES & TRADING TIPS
Optimal Use Cases
Scalping on lower timeframes (1m, 5m, 15m)
Rapid entry/exit with clear TP levels
ADX filter prevents choppy market entries
Day trading on medium timeframes (30m, 1H)
Stronger trend confirmation
Better risk-reward ratios
Swing trading entries on higher timeframes (4H, Daily)
Higher-probability structural setups
Larger ATR-based stops accommodate volatility
Market Conditions
Best Performance:
Trending markets with clear directional bias
Post-news volatility with defined structure
Markets respecting support/resistance levels
Avoid Trading When:
ADX indicator shows purple bars (ranging market)
Multiple conflicting signals across timeframes
Major news events without clear price structure
Low volume periods (market open/close)
Common Mistakes to Avoid
Ignoring the ADX filter - Taking signals during ranging markets leads to whipsaws
Not waiting for confirmation - Enter only when multiple layers align
Overtrading - Fewer high-quality setups outperform many mediocre ones
Ignoring risk management - Always use the calculated stop losses
Fighting the trend - Trade WITH the SuperTrend and Cirrus Cloud direction
TECHNICAL SPECIFICATIONS
Indicator Type: Overlay (plots on price chart)
Calculation Resources:
Max labels: 500
Max lines: 500
Max boxes: 500
Max bars back: 500
Pine Script Version: 5
Compatible Timeframes: All timeframes (optimized for 1m to 1D)
Compatible Instruments:
Forex pairs
Crypto assets
Stock indices
Individual stocks
Commodities
THEORETICAL FOUNDATION
Trend-Following Concepts
This indicator is based on the principle that markets trend more often than they range, and that trends tend to persist. The SuperTrend component captures this momentum while the range filters prevent premature entries during pullbacks.
Smart Money Theory
The SMC elements are based on the concept that institutional traders (banks, hedge funds) leave footprints in the form of:
Order Blocks: Areas where large orders were placed
Fair Value Gaps: Inefficient price movements that may be revisited
Liquidity Sweeps: Stop hunts before continuation (EQH/EQL)
Volatility-Based Position Sizing
Using ATR for stop-loss placement ensures that stop distances adapt to current market conditions:
Tight stops in low volatility (avoids excessive risk)
Wider stops in high volatility (avoids premature stop-outs)
PERFORMANCE EXPECTATIONS
Realistic Expectations
Win Rate:
Expected: 45-55% (trend-following systems rarely exceed 60%)
Higher win rates on trending days
Lower win rates during consolidation (even with ADX filter)
Risk-Reward Ratio:
Target: 1.5:1 minimum (TP2)
Achievable: 2:1 to 3:1 on strong trends
Drawdowns:
Normal: 10-15% of account during choppy periods
Maximum: Should not exceed 20% with proper risk management
Optimization Tips
Backtesting Recommendations:
Test on at least 1 year of historical data
Include different market conditions (trending, ranging, volatile)
Adjust SuperTrend sensitivity per instrument
Optimize ADX threshold for your specific market
Record trades to identify personal execution errors
FREQUENTLY ASKED QUESTIONS
Q: Can I use this for automated trading?
A: The indicator provides signals, but you'll need to code a strategy script separately for automation. The signals can trigger alerts that connect to trading bots.
Q: Why do I see conflicting signals?
A: This is normal during transition periods. Wait for all confirmation layers to align before entering.
Q: How often should I expect signals?
A: Depends on timeframe and market conditions. On 5m charts during trending markets: 3-7 quality setups per session.
Q: Can I use only some features?
A: Yes, all components can be toggled on/off. However, the system works best with all confirmations active.
Q: What's the difference between internal and swing structures?
A: Internal = minor price structures (smaller pivots). Swing = major price structures (larger pivots). Both provide different levels of confirmation.
DISCLAIMER
This indicator is a tool for technical analysis and should not be the sole basis for trading decisions. Past performance does not guarantee future results. Always:
Use proper risk management
Test on demo accounts first
Never risk more than you can afford to lose
Combine with fundamental analysis when applicable
Understand that no indicator is 100% accurate
License: Mozilla Public License 2.0
Author: DrFXGOD
VERSION HISTORY & UPDATES
Initial Release - Version 1.0
Integrated SuperTrend, Range Filters, ADX, SMC concepts
ATR-based risk management
Multi-timeframe support
Customizable visual elements
SUPPORT & DOCUMENTATION
For questions, suggestions, or bug reports, please comment on the script page or contact the author through TradingView.
Additional Resources:
Smart Money Concepts: Research ICT (Inner Circle Trader) materials
ATR and Volatility: Refer to Wilder's original ATR documentation
SuperTrend Indicator: Study original SuperTrend strategy papers
Swing AURORA v4.0 — Refined Trend Signals### Swing Algo v4.0 — Refined Trend Signals
#### Overview
Swing Algo v4.0 is an advanced technical indicator designed for TradingView, built to detect trend changes and provide actionable buy/sell signals in various market conditions. It combines multiple technical elements like moving averages, ADX for trend strength, Stochastic RSI for timing, and RSI divergence for confirmation, all while adapting to different timeframes through auto-tuning. This indicator overlays on your chart, highlighting trend regimes with background colors, displaying buy/sell labels (including "strong" variants), and offering early "potential" signals for proactive trading decisions. It's suitable for swing trading, trend following, or as a filter for other strategies across forex, stocks, crypto, and other assets.
#### Purpose
The primary goal of Swing Algo v4.0 is to help traders identify high-probability trend reversals and continuations early, reducing noise and false signals. It aims to provide clear, non-repainting signals that align with market structure, volatility, and momentum. By incorporating filters like higher timeframe (HTF) alignment, bias EMAs, and divergence, it refines entries for better accuracy. The indicator emphasizes balanced performance across aggressive, balanced, and conservative modes, making it versatile for both novice and experienced traders seeking to optimize their decision-making process.
#### What It Indicates
- **Trend Regimes (Background Coloring)**: The chart background changes color to reflect the current market regime:
- **Green (Intense for strong uptrends, faded when cooling)**: Indicates bullish trends where price is above the baseline and EMAs are aligned upward.
- **Red/Maroon (Intense maroon for strong downtrends, faded red when cooling)**: Signals bearish trends with price below the baseline and downward EMA alignment.
- **Faded Yellow**: Marks "no-trade" zones or potential trend changes, where conditions are choppy, weak, or neutral (e.g., low ADX, near baseline, or low volatility).
- **Buy/Sell Signals**: Labels appear on the chart for confirmed entries:
- "BUY" or "STRONG BUY" for bullish signals (strong variants require higher scores and optional divergence).
- "SELL" or "STRONG SELL" for bearish signals.
- **Potential Signals**: Early warnings like "Potential BUY" or "Potential SELL" appear before full confirmation, allowing traders to anticipate moves (confirmed after a few bars based on the trigger window).
- **Divergence Marks**: Small "DIV↑" (bullish) or "DIV↓" (bearish) labels highlight RSI divergences on pivots, adding confluence for strong signals.
- **Lines**: Optional plots for baseline (teal), EMA13/21 (lime/red based on crossover), providing visual trend context.
Signals are anchored either to the current bar or confirmed pivots, ensuring alignment with price action. The indicator avoids repainting by confirming on close if enabled.
#### Key Parameters and Customization
Swing Algo v4.0 offers minimal yet efficient parameters for fine-tuning, with defaults optimized for common use cases. Most can be auto-tuned based on timeframe for simplicity:
- **Confirm on Close (no repaint)**: Boolean (default: true) – Ensures signals don't repaint by waiting for bar confirmation.
- **Auto-tune by Timeframe**: Boolean (default: true) – Automatically adjusts lengths and sensitivity for 5-15m, 30-60m, 2-4h, or higher frames.
- **Mode**: String (options: Aggressive, Balanced , Conservative) – Controls signal thresholds; Aggressive for more signals, Conservative for fewer but higher-quality ones.
- **Signal Anchor**: String (options: Pivot (divLB) , Current bar) – Places labels on confirmed pivots or the current bar.
- **Trigger Window (bars)**: Integer (default: 3) – Window for signal timing; auto-tuned if enabled.
- **Baseline Type**: String (options: HMA , EMA, ALMA) – Core trend line; lengths auto-tune (e.g., 55 for short frames).
- **Use Bias EMA Filter**: Boolean (default: false) – Adds a long-term EMA for trend bias.
- **Use HTF Filter**: Boolean (default: false) – Aligns with higher timeframe (auto or manual like 60m, 240m, D); override for stricter scoring.
- **Sensitivity (10–90)**: Integer (default: 55) – Adjusts ADX threshold for trend detection; higher = more sensitive.
- **Use RSI-Stoch Trigger**: Boolean (default: true) – Enables Stochastic RSI for entry timing; customizable lengths, smooths, and levels.
- **Use RSI Divergence for STRONG**: Boolean (default: true) – Requires divergence for strong signals; pivot lookback (default: 5).
- **Visual Options**: Booleans for background regime, labels, divergence marks, and lines (all default: true).
These parameters are grouped for ease, with tooltips in TradingView for quick reference. Start with defaults and tweak based on backtesting.
#### How It Works
At its core, Swing Algo v4.0 calculates a baseline (e.g., HMA) to define the trend direction. It then scores potential buys/sells using factors like:
- **Trend Strength**: ADX above a dynamic threshold, combined with EMA crossovers (13/21) and slope analysis.
- **Volatility/Volume**: Bollinger/Keltner squeeze exits, volume z-score, and ATR filters to avoid choppy markets.
- **Timing**: Stochastic RSI crossovers or micro-timing via DEMA/TEMA for precise entries.
- **Filters**: Bias EMA, HTF alignment, gap from baseline, and no-trade zones (weak ADX, near baseline, low vol).
- **Divergence**: RSI pivots confirm strong signals.
- **Scoring**: Buy/sell scores (min 3-5 based on mode) trigger labels only when all gates pass, with early "potential" detection for foresight.
The algorithm processes these in real-time, auto-adapting to timeframe for efficiency. Signals flip only on direction changes to prevent over-trading. For best results, use on liquid assets and combine with risk management.
#### Disclaimer
This indicator is for educational and informational purposes only and does not constitute financial advice, investment recommendations, or trading signals. Trading involves significant risk of loss and is not suitable for all investors. Past performance is not indicative of future results. Always backtest the indicator on your preferred assets and timeframes, and consult a qualified financial advisor before making any trading decisions. The author assumes no liability for any losses incurred from using this script. Use at your own risk.
🚀 Ultimate Trading Tool + Strat Method🚀 Ultimate Trading Tool + Strat Method - Complete Breakdown
Let me give you a comprehensive overview of this powerful indicator!
🎯 What This Indicator Does:
This is a professional-grade, all-in-one trading system that combines two proven methodologies:
1️⃣ Technical Analysis System (Original)
Advanced trend detection using multiple EMAs
Momentum analysis with MACD
RSI multi-timeframe analysis
Volume surge detection
Automated trendline drawing
2️⃣ Strat Method (Pattern Recognition)
Inside bars, outside bars, directional bars
Classic patterns: 2-2, 1-2-2
Advanced patterns: 3-1-2, 2-1-2, F2→3
Timeframe continuity filters
📊 How It Generates Signals:
Technical Analysis Signals (Green/Red Triangles):
Buy Signal Triggers When:
✅ Price above EMA 21 & 50 (uptrend)
✅ MACD histogram rising (momentum)
✅ RSI between 30-70 (not overbought/oversold)
✅ Volume surge above 20-period average
✅ Price breaks above resistance trendline
Scoring System:
Trend alignment: +1 point
Momentum: +1 point
RSI favorable: +1 point
Trendline breakout: +2 points
Minimum score required based on sensitivity setting
Strat Method Signals (Blue/Orange Labels):
Pattern Recognition:
2-2 Setup: Down bar → Up bar (or reverse)
1-2-2 Setup: Inside bar → Down bar → Up bar
3-1-2 Setup: Outside bar → Inside bar → Up bar
2-1-2 Setup: Down bar → Inside bar → Up bar
F2→3 Setup: Failed directional bar becomes outside bar
Confirmation Required:
Must break previous bar's high (buy) or low (sell)
Optional timeframe continuity (daily & weekly aligned)
💰 Risk Management Features:
Dynamic Stop Loss & Take Profit:
ATR-Based: Adapts to market volatility
Stop Loss: Entry - (ATR × 1.5) by default
Take Profit: Entry + (ATR × 3.0) by default
Risk:Reward: Customizable 1:2 to 1:5 ratios
Visual Risk Zones:
Colored boxes show risk/reward area
Dark, bold lines for easy identification
Clear entry, stop, and target levels
🎨 What You See On Screen:
Main Signals:
🟢 Green Triangle "BUY" - Technical analysis long signal
🔴 Red Triangle "SELL" - Technical analysis short signal
🎯 Blue Label "STRAT" - Strat method long signal
🎯 Orange Label "STRAT" - Strat method short signal
Trendlines:
Green lines - Support trendlines (bullish)
Red lines - Resistance trendlines (bearish)
Automatically drawn from pivot points
Extended forward to predict future levels
Stop/Target Levels:
Bold crosses at stop loss levels (red color)
Bold crosses at take profit levels (green color)
Line width = 3 for maximum visibility
Trade Zones:
Light green boxes - Long trade risk/reward zone
Light red boxes - Short trade risk/reward zone
Shows potential profit vs risk visually
📊 Information Dashboard (Top Right):
Shows real-time market conditions:
Main Signal: Current technical signal status
Strat Method: Active Strat pattern
Trend: Bullish/Bearish/Neutral
Momentum: Strong/Weak based on MACD
Volume: High/Normal compared to average
TF Continuity: Daily/Weekly alignment
RSI: Current RSI value with color coding
Support/Resistance: Current trendline levels
🔔 Alert System:
Entry Alerts:
Technical Signals:
🚀 BUY SIGNAL TRIGGERED!
Type: Technical Analysis
Entry: 45.23
Stop: 43.87
Target: 48.95
```
**Strat Signals:**
```
🎯 STRAT BUY TRIGGER!
Pattern: 3-1-2
Entry: 45.23
Trigger Level: 44.56
Exit Alerts:
Target hit notifications
Stop loss hit warnings
Helps maintain discipline
⚙️ Customization Options:
Signal Settings:
Sensitivity: High/Medium/Low (controls how many signals)
Volume Filter: Require volume surge or not
Momentum Filter: Require momentum confirmation
Strat Settings:
TF Continuity: Require daily/weekly alignment
Pattern Selection: Enable/disable specific patterns
Confirmation Mode: Show only confirmed triggers
Risk Settings:
ATR Multiplier: Adjust stop/target distance
Risk:Reward: Set preferred ratio
Visual Elements: Show/hide any component
Visual Settings:
Colors: Customize all signal colors
Display Options: Toggle signals, levels, zones
Trendline Length: Adjust pivot detection period
🎯 Best Use Cases:
Day Trading:
Use low sensitivity setting
Enable all Strat patterns
Watch for high volume signals
Quick in/out trades
Swing Trading:
Use medium sensitivity
Require timeframe continuity
Focus on trendline breakouts
Hold for target levels
Position Trading:
Use high sensitivity (fewer signals)
Require strong momentum
Focus on weekly/daily alignment
Larger ATR multipliers
💡 Trading Strategy Tips:
High-Probability Setups:
Double Confirmation: Technical + Strat signal together
Trend Alignment: All timeframes agree
Volume Surge: Institutional participation
Trendline Break: Clear level breakout
Risk Management:
Always use stops - System provides them
Position sizing - Risk 1-2% per trade
Don't chase - Wait for signal confirmation
Take profits - System provides targets
What Makes Signals Strong:
✅ Both technical AND Strat signals fire together
✅ Timeframe continuity (daily & weekly aligned)
✅ Volume surge confirms institutional interest
✅ Multiple indicators align (trend + momentum + RSI)
✅ Clean trendline breakout with no resistance above (or support below)
⚠️ Common Mistakes to Avoid:
Don't ignore stops - System calculates them for a reason
Don't overtrade - Wait for quality setups
Don't disable volume filter - Unless you know what you're doing
Don't use max sensitivity - You'll get too many signals
Don't ignore timeframe continuity - It filters bad trades
🚀 Why This Indicator is Powerful:
Combines Multiple Edge Sources:
Technical analysis (trend, momentum, volume)
Pattern recognition (Strat method)
Risk management (dynamic stops/targets)
Market structure (trendlines, support/resistance)
Professional Features:
No repainting - signals are final when bar closes
Clear risk/reward before entry
Multiple confirmation layers
Adaptable to any market or timeframe
Beginner Friendly:
Clear visual signals
Automatic calculations
Built-in risk management
Comprehensive dashboard
This indicator essentially gives you everything a professional trader uses - trend analysis, momentum, patterns, volume, risk management - all in one clean package!
Any specific aspect you'd like me to explain in more detail? 🎯RetryClaude can make mistakes. Please double-check responses. Sonnet 4.5
Bollinger Band Screener [Pineify]Multi-Symbol Bollinger Band Screener Pineify – Advanced Multi-Timeframe Market Analysis
Unlock the power of rapid, multi-asset scanning with this original TradingView Pine Script. Expose trends, volatility, and reversals across your favorite tickers—all in a single, customizable dashboard.
Key Features
Screens up to 8 symbols simultaneously with individual controls.
Covers 4 distinct timeframes per symbol for robust, multi-timeframe analysis.
Integrates advanced Bollinger Band logic, adaptable with 11+ moving average types (SMA, EMA, RMA, HMA, WMA, VWMA, TMA, VAR, WWMA, ZLEMA, and TSF).
Visualizes precise state changes: Open/Parallel Uptrends & Downtrends, Consolidation, Breakouts, and more.
Highly interactive table view for instant signal interpretation and actionable alerts.
Flexible to any market: crypto, stocks, forex, indices, and commodities.
How It Works
For each chosen symbol and timeframe, the script calculates Bollinger Bands using your specified source, length, standard deviation, and moving average method.
Real-time state recognition assigns one of several states (Open Rising, Open Falling, Parallel Rising, Parallel Falling), painting the table with unique color codes.
State detection is rigorously defined: e.g., “Open Rising” is set when both bands and the basis rise, indicating strong up momentum.
All bands, signals, and strategies dynamically update as new bars print or user inputs change.
Trading Ideas and Insights
Identify volatility expansions and compressions instantly, spotting breakouts and breakdowns before they play out.
Spot multi-timeframe confluences—when trends align across several TFs, conviction increases for potential trades.
Trade reversals or continuations based on unique Bollinger Band patterns, such as squeeze-break or persistent parallel moves.
Harness this tool for scalping, swing trading, or systematic portfolio screens—your logic, your edge!
How Multiple Indicators Work Together
This screener’s core strength is its integration of multiple moving average types into Bollinger Band construction, not just standard SMA. Each average adapts the bands’ responsiveness to trend and noise, so traders can select the underlying logic that matches their market environment (e.g., HMA for fast moves or ZLEMA for smoothed lag). Overlaying 4 timeframes per symbol ensures trends, reversals, and volatility shifts never slip past your radar. When all MAs and bands synchronize across symbols and TFs, it becomes easy to separate real opportunity from market noise.
Unique Aspects
Perhaps the most flexible Bollinger Band screener for TradingView—choose from over 10 moving average methods.
Powerful multi-timeframe and multi-asset design, rare among Pine scripts.
Immediate visual clarity with color-coded table cells indicating band state—no need for guesswork or chart clutter.
Custom configuration for each asset and time slice to suit any trading style.
How to Use
Add the script to your TradingView chart.
Use the user-friendly input settings to specify up to 8 symbols and 4 timeframes each.
Customize the Bollinger Band parameters: source (price type), band length, standard deviation, and type of moving average.
Interpret the dashboard: Color codes and “state” abbreviations show you instantly which symbols and timeframes are trending, consolidating, or breaking out.
Take trades according to your strategy, using the screener as a confirmation or primary scan tool.
Customization
Fully customize: symbols, timeframes, source, band length, standard deviation multiplier, and moving average type.
Supports intricate watchlists—anything TradingView allows, this script tracks.
Adapt for cryptos, equities, forex, or derivatives by changing symbol inputs.
Conclusion
The Multi-Symbol Bollinger Band Screener “Pineify” is a comprehensive, SEO-optimized Pine Script tool to supercharge your market scanning, trend spotting, and decision-making on TradingView. Whether you trade crypto, stocks, or forex—its fast, intuitive, multi-timeframe dashboard gives you the informational edge to stay ahead of the market.
Try it now to streamline your trading workflow and see all the bands, all the trends, all the time!
Triple SuperTrend + RSI + Fib BBTriple SuperTrend + RSI + Fibonacci Bollinger Bands Strategy
📊 Overview
This advanced trading strategy combines the power of three SuperTrend indicators with RSI confirmation and Fibonacci Bollinger Bands to generate high-probability trade signals. The strategy is designed to capture strong trending moves while filtering out false signals through multi-indicator confluence.
🔧 Core Components
Three SuperTrend Indicators
The strategy uses three SuperTrend indicators with progressively longer periods and multipliers:
SuperTrend 1: 10-period ATR, 1.0 multiplier (fastest, most sensitive)
SuperTrend 2: 11-period ATR, 2.0 multiplier (medium sensitivity)
SuperTrend 3: 12-period ATR, 3.0 multiplier (slowest, most stable)
This layered approach ensures that all three timeframe perspectives align before generating a signal, significantly reducing false entries.
RSI Confirmation (7-period)
The Relative Strength Index acts as a momentum filter:
Long signals require RSI > 50 (bullish momentum)
Short signals require RSI < 50 (bearish momentum)
This prevents entries during weak or divergent price action.
Fibonacci Bollinger Bands (200, 2.618)
Uses a 200-period Simple Moving Average with 2.618 standard deviation bands (Fibonacci ratio). These bands serve dual purposes:
Visual representation of price extremes
Automatic exit trigger when price reaches overextended levels
📈 Entry Logic
LONG Entry (BUY Signal)
A LONG position is opened when ALL of the following conditions are met simultaneously:
All three SuperTrend indicators turn green (bullish)
RSI(7) is above 50
This is the first bar where all conditions align (no repainting)
SHORT Entry (SELL Signal)
A SHORT position is opened when ALL of the following conditions are met simultaneously:
All three SuperTrend indicators turn red (bearish)
RSI(7) is below 50
This is the first bar where all conditions align (no repainting)
🚪 Exit Logic
Positions are automatically closed when ANY of these conditions occur:
SuperTrend Color Change: Any one of the three SuperTrend indicators changes direction
Fibonacci BB Touch: Price reaches or exceeds the upper or lower Fibonacci Bollinger Band (2.618 standard deviations)
This dual-exit approach protects profits by:
Exiting quickly when trend momentum shifts (SuperTrend change)
Taking profits at statistical price extremes (Fib BB touch)
🎨 Visual Features
Signal Arrows
Green Up Arrow (BUY): Appears below the bar when long entry conditions are met
Red Down Arrow (SELL): Appears above the bar when short entry conditions are met
Yellow Down Arrow (EXIT): Appears above the bar when exit conditions are met
Background Coloring
Light Green Tint: All three SuperTrends are bullish (uptrend environment)
Light Red Tint: All three SuperTrends are bearish (downtrend environment)
SuperTrend Lines
Three colored lines plotted with varying opacity:
Solid line (ST1): Most responsive to price changes
Semi-transparent (ST2): Medium-term trend
Most transparent (ST3): Long-term trend structure
Dashboard
Real-time information panel showing:
Individual SuperTrend status (UP/DOWN)
Current RSI value and color-coded status
Current position (LONG/SHORT/FLAT)
Net Profit/Loss
⚙️ Customizable Parameters
SuperTrend Settings
ATR periods for each SuperTrend (default: 10, 11, 12)
Multipliers for each SuperTrend (default: 1.0, 2.0, 3.0)
RSI Settings
RSI length (default: 7)
RSI source (default: close)
Fibonacci Bollinger Bands
BB length (default: 200)
BB multiplier (default: 2.618)
Strategy Options
Enable/disable long trades
Enable/disable short trades
Initial capital
Position sizing
Commission settings
💡 Strategy Philosophy
This strategy is built on the principle of confluence trading - waiting for multiple independent indicators to align before taking a position. By requiring three SuperTrend indicators AND RSI confirmation, the strategy filters out the majority of low-probability setups.
The multi-timeframe SuperTrend approach ensures that short-term, medium-term, and longer-term trends are all in agreement, which typically occurs during strong, sustainable price moves.
The exit strategy is equally important, using both trend-following logic (SuperTrend changes) and mean-reversion logic (Fibonacci BB touches) to adapt to different market conditions.
📊 Best Use Cases
Trending Markets: Works best in markets with clear directional bias
Higher Timeframes: Designed for 15-minute to daily charts
Volatile Assets: SuperTrend indicators excel in assets with clear trends
Swing Trading: Hold times typically range from hours to days
⚠️ Important Notes
No Repainting: All signals are confirmed and will not change on historical bars
One Signal Per Setup: The strategy prevents duplicate signals on consecutive bars
Exit Protection: Always exits before potentially taking an opposite position
Visual Clarity: All three SuperTrend lines are visible simultaneously for transparency
🎯 Recommended Settings
While default parameters are optimized for general use, consider:
Crypto/Volatile Markets: May benefit from slightly higher multipliers
Forex: Default settings work well for major pairs
Stocks: Consider longer BB periods (250-300) for daily charts
Lower Timeframes: Reduce all periods proportionally for scalping
📝 Alerts
Built-in alert conditions for:
BUY signal triggered
SELL signal triggered
EXIT signal triggered
Set up notifications to never miss a trade opportunity!
Disclaimer: This strategy is for educational and informational purposes only. Past performance does not guarantee future results. Always backtest thoroughly and practice proper risk management before live trading.
Luxy Momentum, Trend, Bias and Breakout Indicators V7
TABLE OF CONTENTS
This is Version 7 (V7) - the latest and most optimized release. If you are using any older versions (V6, V5, V4, V3, etc.), it is highly recommended to replace them with V7.
Why This Indicator is Different
Who Should Use This
Core Components Overview
The UT Bot Trading System
Understanding the Market Bias Table
Candlestick Pattern Recognition
Visual Tools and Features
How to Use the Indicator
Performance and Optimization
FAQ
---
### CREDITS & ATTRIBUTION
This indicator implements proven trading concepts using entirely original code developed specifically for this project.
### CONCEPTUAL FOUNDATIONS
• UT Bot ATR Trailing System
- Original concept by @QuantNomad: (search "UT-Bot-Strategy"
- Our version is a complete reimplementation with significant enhancements:
- Volume-weighted momentum adjustment
- Composite stop loss from multiple S/R layers
- Multi-filter confirmation system (swing, %, 2-bar, ZLSMA)
- Full integration with multi-timeframe bias table
- Visual audit trail with freeze-on-touch
- NOTE: No code was copied - this is a complete reimplementation with enhancements.
• Standard Technical Indicators (Public Domain Formulas):
- Supertrend: ATR-based trend calculation with custom gradient fills
- MACD: Gerald Appel's formula with separation filters
- RSI: J. Welles Wilder's formula with pullback zone logic
- ADX/DMI: Custom trend strength formula inspired by Wilder's directional movement concept, reimplemented with volume weighting and efficiency metrics
- ZLSMA: Zero-lag formula enhanced with Hull MA and momentum prediction
### Custom Implementations
- Trend Strength: Inspired by Wilder's ADX concept but using volume-weighted pressure calculation and efficiency metrics (not traditional +DI/-DI smoothing)
- All code implementations are original
### ORIGINAL FEATURES (70%+ of codebase)
- Multi-Timeframe Bias Table with live updates
- Risk Management System (R-multiple TPs, freeze-on-touch)
- Opening Range Breakout tracker with session management
- Composite Stop Loss calculator using 6+ S/R layers
- Performance optimization system (caching, conditional calcs)
- VIX Fear Index integration
- Previous Day High/Low auto-detection
- Candlestick pattern recognition with interactive tooltips
- Smart label and visual management
- All UI/UX design and table architecture
### DEVELOPMENT PROCESS
**AI Assistance:** This indicator was developed over 2+ months with AI assistance (ChatGPT/Claude) used for:
- Writing Pine Script code based on design specifications
- Optimizing performance and fixing bugs
- Ensuring Pine Script v6 compliance
- Generating documentation
**Author's Role:** All trading concepts, system design, feature selection, integration logic, and strategic decisions are original work by the author. The AI was a coding tool, not the system designer.
**Transparency:** We believe in full disclosure - this project demonstrates how AI can be used as a powerful development tool while maintaining creative and strategic ownership.
---
1. WHY THIS INDICATOR IS DIFFERENT
Most traders use multiple separate indicators on their charts, leading to cluttered screens, conflicting signals, and analysis paralysis. The Suite solves this by integrating proven technical tools into a single, cohesive system.
Key Advantages:
All-in-One Design: Instead of loading 5-10 separate indicators, you get everything in one optimized script. This reduces chart clutter and improves TradingView performance.
Multi-Timeframe Bias Table: Unlike standard indicators that only show the current timeframe, the Bias Table aggregates trend signals across multiple timeframes simultaneously. See at a glance whether 1m, 5m, 15m, 1h are aligned bullish or bearish - no more switching between charts.
Smart Confirmations: The indicator doesn't just give signals - it shows you WHY. Every entry has multiple layers of confirmation (MA cross, MACD momentum, ADX strength, RSI pullback, volume, etc.) that you can toggle on/off.
Dynamic Stop Loss System: Instead of static ATR stops, the SL is calculated from multiple support/resistance layers: UT trailing line, Supertrend, VWAP, swing structure, and MA levels. This creates more intelligent, price-action-aware stops.
R-Multiple Take Profits: Built-in TP system calculates targets based on your initial risk (1R, 1.5R, 2R, 3R). Lines freeze when touched with visual checkmarks, giving you a clean audit trail of partial exits.
Educational Tooltips Everywhere: Every single input has detailed tooltips explaining what it does, typical values, and how it impacts trading. You're not guessing - you're learning as you configure.
Performance Optimized: Smart caching, conditional calculations, and modular design mean the indicator runs fast despite having 15+ features. Turn off what you don't use for even better performance.
No Repainting: All signals respect bar close. Alerts fire correctly. What you see in history is what you would have gotten in real-time.
What Makes It Unique:
Integrated UT Bot + Bias Table: No other indicator combines UT Bot's ATR trailing system with a live multi-timeframe dashboard. You get precision entries with macro trend context.
Candlestick Pattern Recognition with Interactive Tooltips: Patterns aren't just marked - hover over any emoji for a full explanation of what the pattern means and how to trade it.
Opening Range Breakout Tracker: Built-in ORB system for intraday traders with customizable session times and real-time status updates in the Bias Table.
Previous Day High/Low Auto-Detection: Automatically plots PDH/PDL on intraday charts with theme-aware colors. Updates daily without manual input.
Dynamic Row Labels in Bias Table: The table shows your actual settings (e.g., "EMA 10 > SMA 20") not generic labels. You know exactly what's being evaluated.
Modular Filter System: Instead of forcing a fixed methodology, the indicator lets you build your own strategy. Start with just UT Bot, add filters one at a time, test what works for your style.
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2. WHO WHOULD USE THIS
Designed For:
Intermediate to Advanced Traders: You understand basic technical analysis (MAs, RSI, MACD) and want to combine multiple confirmations efficiently. This isn't a "one-click profit" system - it's a professional toolkit.
Multi-Timeframe Traders: If you trade one asset but check multiple timeframes for confirmation (e.g., enter on 5m after checking 15m and 1h alignment), the Bias Table will save you hours every week.
Trend Followers: The indicator excels at identifying and following trends using UT Bot, Supertrend, and MA systems. If you trade breakouts and pullbacks in trending markets, this is built for you.
Intraday and Swing Traders: Works equally well on 5m-1h charts (day trading) and 4h-D charts (swing trading). Scalpers can use it too with appropriate settings adjustments.
Discretionary Traders: This isn't a black-box system. You see all the components, understand the logic, and make final decisions. Perfect for traders who want tools, not automation.
Works Across All Markets:
Stocks (US, international)
Cryptocurrency (24/7 markets supported)
Forex pairs
Indices (SPY, QQQ, etc.)
Commodities
NOT Ideal For :
Complete Beginners: If you don't know what a moving average or RSI is, start with basics first. This indicator assumes foundational knowledge.
Algo Traders Seeking Black Box: This is discretionary. Signals require context and confirmation. Not suitable for blind automated execution.
Mean-Reversion Only Traders: The indicator is trend-following at its core. While VWAP bands support mean-reversion, the primary methodology is trend continuation.
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3. CORE COMPONENTS OVERVIEW
The indicator combines these proven systems:
Trend Analysis:
Moving Averages: Four customizable MAs (Fast, Medium, Medium-Long, Long) with six types to choose from (EMA, SMA, WMA, VWMA, RMA, HMA). Mix and match for your style.
Supertrend: ATR-based trend indicator with unique gradient fill showing trend strength. One-sided ribbon visualization makes it easier to see momentum building or fading.
ZLSMA : Zero-lag linear-regression smoothed moving average. Reduces lag compared to traditional MAs while maintaining smooth curves.
Momentum & Filters:
MACD: Standard MACD with separation filter to avoid weak crossovers.
RSI: Pullback zone detection - only enter longs when RSI is in your defined "buy zone" and shorts in "sell zone".
ADX/DMI: Trend strength measurement with directional filter. Ensures you only trade when there's actual momentum.
Volume Filter: Relative volume confirmation - require above-average volume for entries.
Donchian Breakout: Optional channel breakout requirement.
Signal Systems:
UT Bot: The primary signal generator. ATR trailing stop that adapts to volatility and gives clear entry/exit points.
Base Signals: MA cross system with all the above filters applied. More conservative than UT Bot alone.
Market Bias Table: Multi-timeframe dashboard showing trend alignment across 7 timeframes plus macro bias (3-day, weekly, monthly, quarterly, VIX).
Candlestick Patterns: Six major reversal patterns auto-detected with interactive tooltips.
ORB Tracker: Opening range high/low with breakout status (intraday only).
PDH/PDL: Previous day levels plotted automatically on intraday charts.
VWAP + Bands : Session-anchored VWAP with up to three standard deviation band pairs.
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4. THE UT BOT TRADING SYSTEM
The UT Bot is the heart of the indicator's signal generation. It's an advanced ATR trailing stop that adapts to market volatility.
Why UT Bot is Superior to Fixed Stops:
Traditional ATR stops use a fixed multiplier (e.g., "stop = entry - 2×ATR"). UT Bot is smarter:
It TRAILS the stop as price moves in your favor
It WIDENS during high volatility to avoid premature stops
It TIGHTENS during consolidation to lock in profits
It FLIPS when price breaks the trailing line, signaling reversals
Visual Elements You'll See:
Orange Trailing Line: The actual UT stop level that adapts bar-by-bar
Buy/Sell Labels: Aqua triangle (long) or orange triangle (short) when the line flips
ENTRY Line: Horizontal line at your entry price (optional, can be turned off)
Suggested Stop Loss: A composite SL calculated from multiple support/resistance layers:
- UT trailing line
- Supertrend level
- VWAP
- Swing structure (recent lows/highs)
- Long-term MA (200)
- ATR-based floor
Take Profit Lines: TP1, TP1.5, TP2, TP3 based on R-multiples. When price touches a TP, it's marked with a checkmark and the line freezes for audit trail purposes.
Status Messages: "SL Touched ❌" or "SL Frozen" when the trade leg completes.
How UT Bot Differs from Other ATR Systems:
Multiple Filters Available: You can require 2-bar confirmation, minimum % price change, swing structure alignment, or ZLSMA directional filter. Most UT implementations have none of these.
Smart SL Calculation: Instead of just using the UT line as your stop, the indicator suggests a better SL based on actual support/resistance. This prevents getting stopped out by wicks while keeping risk controlled.
Visual Audit Trail: All SL/TP lines freeze when touched with clear markers. You can review your trades weeks later and see exactly where entries, stops, and targets were.
Performance Options: "Draw UT visuals only on bar close" lets you reduce rendering load without affecting logic or alerts - critical for slower machines or 1m charts.
Trading Logic:
UT Bot flips direction (Buy or Sell signal appears)
Check Bias Table for multi-timeframe confirmation
Optional: Wait for Base signal or candlestick pattern
Enter at signal bar close or next bar open
Place stop at "Suggested Stop Loss" line
Scale out at TP levels (TP1, TP2, TP3)
Exit remaining position on opposite UT signal or stop hit
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5. UNDERSTANDING THE MARKET BIAS TABLE
This is the indicator's unique multi-timeframe intelligence layer. Instead of looking at one chart at a time, the table aggregates signals across seven timeframes plus macro trend bias.
Why Multi-Timeframe Analysis Matters:
Professional traders check higher and lower timeframes for context:
Is the 1h uptrend aligning with my 5m entry?
Are all short-term timeframes bullish or just one?
Is the daily trend supportive or fighting me?
Doing this manually means opening multiple charts, checking each indicator, and making mental notes. The Bias Table does it automatically in one glance.
Table Structure:
Header Row:
On intraday charts: 1m, 5m, 15m, 30m, 1h, 2h, 4h (toggle which ones you want)
On daily+ charts: D, W, M (automatic)
Green dot next to title = live updating
Headline Rows - Macro Bias:
These show broad market direction over longer periods:
3 Day Bias: Trend over last 3 trading sessions (uses 1h data)
Weekly Bias: Trend over last 5 trading sessions (uses 4h data)
Monthly Bias: Trend over last 30 daily bars
Quarterly Bias: Trend over last 13 weekly bars
VIX Fear Index: Market regime based on VIX level - bullish when low, bearish when high
Opening Range Breakout: Status of price vs. session open range (intraday only)
These rows show text: "BULLISH", "BEARISH", or "NEUTRAL"
Indicator Rows - Technical Signals:
These evaluate your configured indicators across all active timeframes:
Fast MA > Medium MA (shows your actual MA settings, e.g., "EMA 10 > SMA 20")
Price > Long MA (e.g., "Price > SMA 200")
Price > VWAP
MACD > Signal
Supertrend (up/down/neutral)
ZLSMA Rising
RSI In Zone
ADX ≥ Minimum
These rows show emojis: GREEB (bullish), RED (bearish), GRAY/YELLOW (neutral/NA)
AVG Column:
Shows percentage of active timeframes that are bullish for that row. This is the KEY metric:
AVG > 70% = strong multi-timeframe bullish alignment
AVG 40-60% = mixed/choppy, no clear trend
AVG < 30% = strong multi-timeframe bearish alignment
How to Use the Table:
For a long trade:
Check AVG column - want to see > 60% ideally
Check headline bias rows - want to see BULLISH, not BEARISH
Check VIX row - bullish market regime preferred
Check ORB row (intraday) - want ABOVE for longs
Scan indicator rows - more green = better confirmation
For a short trade:
Check AVG column - want to see < 40% ideally
Check headline bias rows - want to see BEARISH, not BULLISH
Check VIX row - bearish market regime preferred
Check ORB row (intraday) - want BELOW for shorts
Scan indicator rows - more red = better confirmation
When AVG is 40-60%:
Market is choppy, mixed signals. Either stay out or reduce position size significantly. These are low-probability environments.
Unique Features:
Dynamic Labels: Row names show your actual settings (e.g., "EMA 10 > SMA 20" not generic "Fast > Slow"). You know exactly what's being evaluated.
Customizable Rows: Turn off rows you don't care about. Only show what matters to your strategy.
Customizable Timeframes: On intraday charts, disable 1m or 4h if you don't trade them. Reduces calculation load by 20-40%.
Automatic HTF Handling: On Daily/Weekly/Monthly charts, the table automatically switches to D/W/M columns. No configuration needed.
Performance Smart: "Hide BIAS table on 1D or above" option completely skips all table calculations on higher timeframes if you only trade intraday.
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6. CANDLESTICK PATTERN RECOGNITION
The indicator automatically detects six major reversal patterns and marks them with emojis at the relevant bars.
Why These Six Patterns:
These are the most statistically significant reversal patterns according to trading literature:
High win rate when appearing at support/resistance
Clear visual structure (not subjective)
Work across all timeframes and assets
Studied extensively by institutions
The Patterns:
Bullish Patterns (appear at bottoms):
Bullish Engulfing: Green candle completely engulfs prior red candle's body. Strong reversal signal.
Hammer: Small body with long lower wick (at least 2× body size). Shows rejection of lower prices by buyers.
Morning Star: Three-candle pattern (large red → small indecision → large green). Very strong bottom reversal.
Bearish Patterns (appear at tops):
Bearish Engulfing: Red candle completely engulfs prior green candle's body. Strong reversal signal.
Shooting Star: Small body with long upper wick (at least 2× body size). Shows rejection of higher prices by sellers.
Evening Star: Three-candle pattern (large green → small indecision → large red). Very strong top reversal.
Interactive Tooltips:
Unlike most pattern indicators that just draw shapes, this one is educational:
Hover your mouse over any pattern emoji
A tooltip appears explaining: what the pattern is, what it means, when it's most reliable, and how to trade it
No need to memorize - learn as you trade
Noise Filter:
"Min candle body % to filter noise" setting prevents false signals:
Patterns require minimum body size relative to price
Filters out tiny candles that don't represent real buying/selling pressure
Adjust based on asset volatility (higher % for crypto, lower for low-volatility stocks)
How to Trade Patterns:
Patterns are NOT standalone entry signals. Use them as:
Confirmation: UT Bot gives signal + pattern appears = stronger entry
Reversal Warning: In a trade, opposite pattern appears = consider tightening stop or taking profit
Support/Resistance Validation: Pattern at key level (PDH, VWAP, MA 200) = level is being respected
Best combined with:
UT Bot or Base signal in same direction
Bias Table alignment (AVG > 60% or < 40%)
Appearance at obvious support/resistance
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7. VISUAL TOOLS AND FEATURES
VWAP (Volume Weighted Average Price):
Session-anchored VWAP with standard deviation bands. Shows institutional "fair value" for the trading session.
Anchor Options: Session, Day, Week, Month, Quarter, Year. Choose based on your trading timeframe.
Bands: Up to three pairs (X1, X2, X3) showing statistical deviation. Price at outer bands often reverses.
Auto-Hide on HTF: VWAP hides on Daily/Weekly/Monthly charts automatically unless you enable anchored mode.
Use VWAP as:
Directional bias (above = bullish, below = bearish)
Mean reversion levels (outer bands)
Support/resistance (the VWAP line itself)
Previous Day High/Low:
Automatically plots yesterday's high and low on intraday charts:
Updates at start of each new trading day
Theme-aware colors (dark text for light charts, light text for dark charts)
Hidden automatically on Daily/Weekly/Monthly charts
These levels are critical for intraday traders - institutions watch them closely as support/resistance.
Opening Range Breakout (ORB):
Tracks the high/low of the first 5, 15, 30, or 60 minutes of the trading session:
Customizable session times (preset for NYSE, LSE, TSE, or custom)
Shows current breakout status in Bias Table row (ABOVE, BELOW, INSIDE, BUILDING)
Intraday only - auto-disabled on Daily+ charts
ORB is a classic day trading strategy - breakout above opening range often leads to continuation.
Extra Labels:
Change from Open %: Shows how far price has moved from session open (intraday) or daily open (HTF). Green if positive, red if negative.
ADX Badge: Small label at bottom of last bar showing current ADX value. Green when above your minimum threshold, red when below.
RSI Badge: Small label at top of last bar showing current RSI value with zone status (buy zone, sell zone, or neutral).
These labels provide quick at-a-glance confirmation without needing separate indicator windows.
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8. HOW TO USE THE INDICATOR
Step 1: Add to Chart
Load the indicator on your chosen asset and timeframe
First time: Everything is enabled by default - the chart will look busy
Don't panic - you'll turn off what you don't need
Step 2: Start Simple
Turn OFF everything except:
UT Bot labels (keep these ON)
Bias Table (keep this ON)
Moving Averages (Fast and Medium only)
Suggested Stop Loss and Take Profits
Hide everything else initially. Get comfortable with the basic UT Bot + Bias Table workflow first.
Step 3: Learn the Core Workflow
UT Bot gives a Buy or Sell signal
Check Bias Table AVG column - do you have multi-timeframe alignment?
If yes, enter the trade
Place stop at Suggested Stop Loss line
Scale out at TP levels
Exit on opposite UT signal
Trade this simple system for a week. Get a feel for signal frequency and win rate with your settings.
Step 4: Add Filters Gradually
If you're getting too many losing signals (whipsaws in choppy markets), add filters one at a time:
Try: "Require 2-Bar Trend Confirmation" - wait for 2 bars to confirm direction
Try: ADX filter with minimum threshold - only trade when trend strength is sufficient
Try: RSI pullback filter - only enter on pullbacks, not chasing
Try: Volume filter - require above-average volume
Add one filter, test for a week, evaluate. Repeat.
Step 5: Enable Advanced Features (Optional)
Once you're profitable with the core system, add:
Supertrend for additional trend confirmation
Candlestick patterns for reversal warnings
VWAP for institutional anchor reference
ORB for intraday breakout context
ZLSMA for low-lag trend following
Step 6: Optimize Settings
Every setting has a detailed tooltip explaining what it does and typical values. Hover over any input to read:
What the parameter controls
How it impacts trading
Suggested ranges for scalping, day trading, and swing trading
Start with defaults, then adjust based on your results and style.
Step 7: Set Up Alerts
Right-click chart → Add Alert → Condition: "Luxy Momentum v6" → Choose:
"UT Bot — Buy" for long entries
"UT Bot — Sell" for short entries
"Base Long/Short" for filtered MA cross signals
Optionally enable "Send real-time alert() on UT flip" in settings for immediate notifications.
Common Workflow Variations:
Conservative Trader:
UT signal + Base signal + Candlestick pattern + Bias AVG > 70%
Enter only at major support/resistance
Wider UT sensitivity, multiple filters
Aggressive Trader:
UT signal + Bias AVG > 60%
Enter immediately, no waiting
Tighter UT sensitivity, minimal filters
Swing Trader:
Focus on Daily/Weekly Bias alignment
Ignore intraday noise
Use ORB and PDH/PDL less (or not at all)
Wider stops, patient approach
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9. PERFORMANCE AND OPTIMIZATION
The indicator is optimized for speed, but with 15+ features running simultaneously, chart load time can add up. Here's how to keep it fast:
Biggest Performance Gains:
Disable Unused Timeframes: In "Time Frames" settings, turn OFF any timeframe you don't actively trade. Each disabled TF saves 10-15% calculation time. If you only day trade 5m, 15m, 1h, disable 1m, 2h, 4h.
Hide Bias Table on Daily+: If you only trade intraday, enable "Hide BIAS table on 1D or above". This skips ALL table calculations on higher timeframes.
Draw UT Visuals Only on Bar Close: Reduces intrabar rendering of SL/TP/Entry lines. Has ZERO impact on logic or alerts - purely visual optimization.
Additional Optimizations:
Turn off VWAP bands if you don't use them
Disable candlestick patterns if you don't trade them
Turn off Supertrend fill if you find it distracting (keep the line)
Reduce "Limit to 10 bars" for SL/TP lines to minimize line objects
Performance Features Built-In:
Smart Caching: Higher timeframe data (3-day bias, weekly bias, etc.) updates once per day, not every bar
Conditional Calculations: Volume filter only calculates when enabled. Swing filter only runs when enabled. Nothing computes if turned off.
Modular Design: Every component is independent. Turn off what you don't need without breaking other features.
Typical Load Times:
5m chart, all features ON, 7 timeframes: ~2-3 seconds
5m chart, core features only, 3 timeframes: ~1 second
1m chart, all features: ~4-5 seconds (many bars to calculate)
If loading takes longer, you likely have too many indicators on the chart total (not just this one).
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10. FAQ
Q: How is this different from standard UT Bot indicators?
A: Standard UT Bot (originally by @QuantNomad) is just the ATR trailing line and flip signals. This implementation adds:
- Volume weighting and momentum adjustment to the trailing calculation
- Multiple confirmation filters (swing, %, 2-bar, ZLSMA)
- Smart composite stop loss system from multiple S/R layers
- R-multiple take profit system with freeze-on-touch
- Integration with multi-timeframe Bias Table
- Visual audit trail with checkmarks
Q: Can I use this for automated trading?
A: The indicator is designed for discretionary trading. While it has clear signals and alerts, it's not a mechanical system. Context and judgment are required.
Q: Does it repaint?
A: No. All signals respect bar close. UT Bot logic runs intrabar but signals only trigger on confirmed bars. Alerts fire correctly with no lookahead.
Q: Do I need to use all the features?
A: Absolutely not. The indicator is modular. Many profitable traders use just UT Bot + Bias Table + Moving Averages. Start simple, add complexity only if needed.
Q: How do I know which settings to use?
A: Every single input has a detailed tooltip. Hover over any setting to see:
What it does
How it affects trading
Typical values for scalping, day trading, swing trading
Start with defaults, adjust gradually based on results.
Q: Can I use this on crypto 24/7 markets?
A: Yes. ORB will not work (no defined session), but everything else functions normally. Use "Day" anchor for VWAP instead of "Session".
Q: The Bias Table is blank or not showing.
A: Check:
"Show Table" is ON
Table position isn't overlapping another indicator's table (change position)
At least one row is enabled
"Hide BIAS table on 1D or above" is OFF (if on Daily+ chart)
Q: Why are candlestick patterns not appearing?
A: Patterns are relatively rare by design - they only appear at genuine reversal points. Check:
Pattern toggles are ON
"Min candle body %" isn't too high (try 0.05-0.10)
You're looking at a chart with actual reversals (not strong trending market)
Q: UT Bot is too sensitive/not sensitive enough.
A: Adjust "Sensitivity (Key×ATR)". Lower number = tighter stop, more signals. Higher number = wider stop, fewer signals. Read the tooltip for guidance.
Q: Can I get alerts for the Bias Table?
A: The Bias Table is a dashboard for visual analysis, not a signal generator. Set alerts on UT Bot or Base signals, then manually check Bias Table for confirmation.
Q: Does this work on stocks with low volume?
A: Yes, but turn OFF the volume filter. Low volume stocks will never meet relative volume requirements.
Q: How often should I check the Bias Table?
A: Before every entry. It takes 2 seconds to glance at the AVG column and headline rows. This one check can save you from fighting the trend.
Q: What if UT signal and Base signal disagree?
A: UT Bot is more aggressive (ATR trailing). Base signals are more conservative (MA cross + filters). If they disagree, either:
Wait for both to align (safest)
Take the UT signal but with smaller size (aggressive)
Skip the trade (conservative)
There's no "right" answer - depends on your risk tolerance.
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FINAL NOTES
The indicator gives you an edge. How you use that edge determines results.
For questions, feedback, or support, comment on the indicator page or message the author.
Happy Trading!
T3 ATR [DCAUT]█ T3 ATR
📊 ORIGINALITY & INNOVATION
The T3 ATR indicator represents an important enhancement to the traditional Average True Range (ATR) indicator by incorporating the T3 (Tilson Triple Exponential Moving Average) smoothing algorithm. While standard ATR uses fixed RMA (Running Moving Average) smoothing, T3 ATR introduces a configurable volume factor parameter that allows traders to adjust the smoothing characteristics from highly responsive to heavily smoothed output.
This innovation addresses a fundamental limitation of traditional ATR: the inability to adapt smoothing behavior without changing the calculation period. With T3 ATR, traders can maintain a consistent ATR period while adjusting the responsiveness through the volume factor, making the indicator adaptable to different trading styles, market conditions, and timeframes through a single unified implementation.
The T3 algorithm's triple exponential smoothing with volume factor control provides improved signal quality by reducing noise while maintaining better responsiveness compared to traditional smoothing methods. This makes T3 ATR particularly valuable for traders who need to adapt their volatility measurement approach to varying market conditions without switching between multiple indicator configurations.
📐 MATHEMATICAL FOUNDATION
The T3 ATR calculation process involves two distinct stages:
Stage 1: True Range Calculation
The True Range (TR) is calculated using the standard formula:
TR = max(high - low, |high - close |, |low - close |)
This captures the greatest of the current bar's range, the gap from the previous close to the current high, or the gap from the previous close to the current low, providing a comprehensive measure of price movement that accounts for gaps and limit moves.
Stage 2: T3 Smoothing Application
The True Range values are then smoothed using the T3 algorithm, which applies six exponential moving averages in succession:
First Layer: e1 = EMA(TR, period), e2 = EMA(e1, period)
Second Layer: e3 = EMA(e2, period), e4 = EMA(e3, period)
Third Layer: e5 = EMA(e4, period), e6 = EMA(e5, period)
Final Calculation: T3 = c1×e6 + c2×e5 + c3×e4 + c4×e3
The coefficients (c1, c2, c3, c4) are derived from the volume factor (VF) parameter:
a = VF / 2
c1 = -a³
c2 = 3a² + 3a³
c3 = -6a² - 3a - 3a³
c4 = 1 + 3a + a³ + 3a²
The volume factor parameter (0.0 to 1.0) controls the weighting of these coefficients, directly affecting the balance between responsiveness and smoothness:
Lower VF values (approaching 0.0): Coefficients favor recent data, resulting in faster response to volatility changes with minimal lag but potentially more noise
Higher VF values (approaching 1.0): Coefficients distribute weight more evenly across the smoothing layers, producing smoother output with reduced noise but slightly increased lag
📊 COMPREHENSIVE SIGNAL ANALYSIS
Volatility Level Interpretation:
High Absolute Values: Indicate strong price movements and elevated market activity, suggesting larger position risks and wider stop-loss requirements, often associated with trending markets or significant news events
Low Absolute Values: Indicate subdued price movements and quiet market conditions, suggesting smaller position risks and tighter stop-loss opportunities, often associated with consolidation phases or low-volume periods
Rapid Increases: Sharp spikes in T3 ATR often signal the beginning of significant price moves or market regime changes, providing early warning of increased trading risk
Sustained High Levels: Extended periods of elevated T3 ATR indicate sustained trending conditions with persistent volatility, suitable for trend-following strategies
Sustained Low Levels: Extended periods of low T3 ATR indicate range-bound conditions with suppressed volatility, suitable for mean-reversion strategies
Volume Factor Impact on Signals:
Low VF Settings (0.0-0.3): Produce responsive signals that quickly capture volatility changes, suitable for short-term trading but may generate more frequent color changes during minor fluctuations
Medium VF Settings (0.4-0.7): Provide balanced signal quality with moderate responsiveness, filtering out minor noise while capturing significant volatility changes, suitable for swing trading
High VF Settings (0.8-1.0): Generate smooth, stable signals that filter out most noise and focus on major volatility trends, suitable for position trading and long-term analysis
🎯 STRATEGIC APPLICATIONS
Position Sizing Strategy:
Determine your risk per trade (e.g., 1% of account capital - adjust based on your risk tolerance and experience)
Decide your stop-loss distance multiplier (e.g., 2.0x T3 ATR - this varies by market and strategy, test different values)
Calculate stop-loss distance: Stop Distance = Multiplier × Current T3 ATR
Calculate position size: Position Size = (Account × Risk %) / Stop Distance
Example: $10,000 account, 1% risk, T3 ATR = 50 points, 2x multiplier → Position Size = ($10,000 × 0.01) / (2 × 50) = $100 / 100 points = 1 unit per point
Important: The ATR multiplier (1.5x - 3.0x) should be determined through backtesting for your specific instrument and strategy - using inappropriate multipliers may result in stops that are too tight (frequent stop-outs) or too wide (excessive losses)
Adjust the volume factor to match your trading style: lower VF for responsive stop distances in short-term trading, higher VF for stable stop distances in position trading
Dynamic Stop-Loss Placement:
Determine your risk tolerance multiplier (typically 1.5x to 3.0x T3 ATR)
For long positions: Set stop-loss at entry price minus (multiplier × current T3 ATR value)
For short positions: Set stop-loss at entry price plus (multiplier × current T3 ATR value)
Trail stop-losses by recalculating based on current T3 ATR as the trade progresses
Adjust the volume factor based on desired stop-loss stability: higher VF for less frequent adjustments, lower VF for more adaptive stops
Market Regime Identification:
Calculate a reference volatility level using a longer-period moving average of T3 ATR (e.g., 50-period SMA)
High Volatility Regime: Current T3 ATR significantly above reference (e.g., 120%+) - favor trend-following strategies, breakout trades, and wider targets
Normal Volatility Regime: Current T3 ATR near reference (e.g., 80-120%) - employ standard trading strategies appropriate for prevailing market structure
Low Volatility Regime: Current T3 ATR significantly below reference (e.g., <80%) - favor mean-reversion strategies, range trading, and prepare for potential volatility expansion
Monitor T3 ATR trend direction and compare current values to recent history to identify regime transitions early
Risk Management Implementation:
Establish your maximum portfolio heat (total risk across all positions, typically 2-6% of capital)
For each position: Calculate position size using the formula Position Size = (Account × Individual Risk %) / (ATR Multiplier × Current T3 ATR)
When T3 ATR increases: Position sizes automatically decrease (same risk %, larger stop distance = smaller position)
When T3 ATR decreases: Position sizes automatically increase (same risk %, smaller stop distance = larger position)
This approach maintains constant dollar risk per trade regardless of market volatility changes
Use consistent volume factor settings across all positions to ensure uniform risk measurement
📋 DETAILED PARAMETER CONFIGURATION
ATR Length Parameter:
Default Setting: 14 periods
This is the standard ATR calculation period established by Welles Wilder, providing balanced volatility measurement that captures both short-term fluctuations and medium-term trends across most markets and timeframes
Selection Principles:
Shorter periods increase sensitivity to recent volatility changes and respond faster to market shifts, but may produce less stable readings
Longer periods emphasize sustained volatility trends and filter out short-term noise, but respond more slowly to genuine regime changes
The optimal period depends on your holding time, trading frequency, and the typical volatility cycle of your instrument
Consider the timeframe you trade: Intraday traders typically use shorter periods, swing traders use intermediate periods, position traders use longer periods
Practical Approach:
Start with the default 14 periods and observe how well it captures volatility patterns relevant to your trading decisions
If ATR seems too reactive to minor price movements: Increase the period until volatility readings better reflect meaningful market changes
If ATR lags behind obvious volatility shifts that affect your trades: Decrease the period for faster response
Match the period roughly to your typical holding time - if you hold positions for N bars, consider ATR periods in a similar range
Test different periods using historical data for your specific instrument and strategy before committing to live trading
T3 Volume Factor Parameter:
Default Setting: 0.7
This setting provides a reasonable balance between responsiveness and smoothness for most market conditions and trading styles
Understanding the Volume Factor:
Lower values (closer to 0.0) reduce smoothing, allowing T3 ATR to respond more quickly to volatility changes but with less noise filtering
Higher values (closer to 1.0) increase smoothing, producing more stable readings that focus on sustained volatility trends but respond more slowly
The trade-off is between immediacy and stability - there is no universally optimal setting
Selection Principles:
Match to your decision speed: If you need to react quickly to volatility changes for entries/exits, use lower VF; if you're making longer-term risk assessments, use higher VF
Match to market character: Noisier, choppier markets may benefit from higher VF for clearer signals; cleaner trending markets may work well with lower VF for faster response
Match to your preference: Some traders prefer responsive indicators even with occasional false signals, others prefer stable indicators even with some delay
Practical Adjustment Guidelines:
Start with default 0.7 and observe how T3 ATR behavior aligns with your trading needs over multiple sessions
If readings seem too unstable or noisy for your decisions: Try increasing VF toward 0.9-1.0 for heavier smoothing
If the indicator lags too much behind volatility changes you care about: Try decreasing VF toward 0.3-0.5 for faster response
Make meaningful adjustments (0.2-0.3 changes) rather than small increments - subtle differences are often imperceptible in practice
Test adjustments in simulation or paper trading before applying to live positions
📈 PERFORMANCE ANALYSIS & COMPETITIVE ADVANTAGES
Responsiveness Characteristics:
The T3 smoothing algorithm provides improved responsiveness compared to traditional RMA smoothing used in standard ATR. The triple exponential design with volume factor control allows the indicator to respond more quickly to genuine volatility changes while maintaining the ability to filter noise through appropriate VF settings. This results in earlier detection of volatility regime changes compared to standard ATR, particularly valuable for risk management and position sizing adjustments.
Signal Stability:
Unlike simple smoothing methods that may produce erratic signals during transitional periods, T3 ATR's multi-layer exponential smoothing provides more stable signal progression. The volume factor parameter allows traders to tune signal stability to their preference, with higher VF settings producing remarkably smooth volatility profiles that help avoid overreaction to temporary market fluctuations.
Comparison with Standard ATR:
Adaptability: T3 ATR allows adjustment of smoothing characteristics through the volume factor without changing the ATR period, whereas standard ATR requires changing the period length to alter responsiveness, potentially affecting the fundamental volatility measurement
Lag Reduction: At lower volume factor settings, T3 ATR responds more quickly to volatility changes than standard ATR with equivalent periods, providing earlier signals for risk management adjustments
Noise Filtering: At higher volume factor settings, T3 ATR provides superior noise filtering compared to standard ATR, producing cleaner signals for long-term analysis without sacrificing volatility measurement accuracy
Flexibility: A single T3 ATR configuration can serve multiple trading styles by adjusting only the volume factor, while standard ATR typically requires multiple instances with different periods for different trading applications
Suitable Use Cases:
T3 ATR is well-suited for the following scenarios:
Dynamic Risk Management: When position sizing and stop-loss placement need to adapt quickly to changing volatility conditions
Multi-Style Trading: When a single volatility indicator must serve different trading approaches (day trading, swing trading, position trading)
Volatile Markets: When standard ATR produces too many false volatility signals during choppy conditions
Systematic Trading: When algorithmic systems require a single, configurable volatility input that can be optimized for different instruments
Market Regime Analysis: When clear identification of volatility expansion and contraction phases is critical for strategy selection
Known Limitations:
Like all technical indicators, T3 ATR has limitations that users should understand:
Historical Nature: T3 ATR is calculated from historical price data and cannot predict future volatility with certainty
Smoothing Trade-offs: The volume factor setting involves a trade-off between responsiveness and smoothness - no single setting is optimal for all market conditions
Extreme Events: During unprecedented market events or gaps, T3 ATR may not immediately reflect the full scope of volatility until sufficient data is processed
Relative Measurement: T3 ATR values are most meaningful in relative context (compared to recent history) rather than as absolute thresholds
Market Context Required: T3 ATR measures volatility magnitude but does not indicate price direction or trend quality - it should be used in conjunction with directional analysis
Performance Expectations:
T3 ATR is designed to help traders measure and adapt to changing market volatility conditions. When properly configured and applied:
It can help reduce position risk during volatile periods through appropriate position sizing
It can help identify optimal times for more aggressive position sizing during stable periods
It can improve stop-loss placement by adapting to current market conditions
It can assist in strategy selection by identifying volatility regimes
However, volatility measurement alone does not guarantee profitable trading. T3 ATR should be integrated into a comprehensive trading approach that includes directional analysis, proper risk management, and sound trading psychology.
USAGE NOTES
This indicator is designed for technical analysis and educational purposes. T3 ATR provides adaptive volatility measurement but has limitations and should not be used as the sole basis for trading decisions. The indicator measures historical volatility patterns, and past volatility characteristics do not guarantee future volatility behavior. Market conditions can change rapidly, and extreme events may produce volatility readings that fall outside historical norms.
Traders should combine T3 ATR with directional analysis tools, support/resistance analysis, and other technical indicators to form a complete trading strategy. Proper backtesting and forward testing with appropriate risk management is essential before applying T3 ATR-based strategies to live trading. The volume factor parameter should be optimized for specific instruments and trading styles through careful testing rather than assuming default settings are optimal for all applications.
Multiple Symbol Trend Screener [Pineify]Multiple Symbol Trend Screener Pineify – Ultimate Multi-Indicator Scanner for TradingView
Empower your trading with deep market insights across multiple symbols using this feature-rich Pine Script screener. The Multiple Symbol Trend Screener Pineify enables traders to monitor and compare trends, reversals, and consolidations in real-time across the biggest equity symbols on TradingView, through a synergistic blend of popular technical indicators.
Key Features
Monitor up to 15 symbols and their trends simultaneously
Integrates 7 professional-grade indicators: MA Distance, Aroon, Parabolic SAR (PSAR), ADX, Supertrend, Keltner Channel, and BBTrend
Color-coded table display for instant visual assessment
Customizable lookback periods, indicator types, and calculation methods
SEO optimized for multi-symbol trend detection, screener, and advanced TradingView indicator
How It Works
This indicator leverages TradingView’s Pine Script v6 and request.security() to process multiple symbols across selected timeframes. Data populates a dynamic table, updating each cell based on the calculated value of every underlying indicator. MA Distance highlights deviation from moving averages; Aroon flags emerging trend strength; PSAR marks potential trend reversals; ADX assesses trend momentum; Supertrend detects bullish/bearish phases; Keltner Channel and BBTrend offer volatility and power insights.
Set up your preferred symbols and timeframes
Each indicator runs its calculation per symbol using its parameter group
All results are displayed in a table for a comprehensive dashboard view
Trading Ideas and Insights
Traders can use this screener for cross-market comparison, directional bias, entry/exit filtering, and comprehensive trend evaluation. The screener is excellent for swing trading, day trading, and portfolio tracking. It enables confirmation across multiple frameworks — for example, spotting momentum with ADX before confirming direction with Supertrend and PSAR.
Identify correlated movements or divergences across selected assets
Spot synchronized trend changes for basket trading ideas
Filter symbols by volatility, strength, or trend status for precise trade selection
How Multiple Indicators Work Together
The screener’s edge lies in its intelligent correlation of popular indicators. MA Distance measures the proximity to chosen moving averages, ideal for spotting overbought/oversold conditions. Aroon reveals the strength of new price trends, PSAR indicates reversal signals, and ADX quantifies the momentum of these trends. Supertrend provides a directional phase, while Keltner Channel & BBTrend analyze volatility shifts and band compressions. This amalgamation allows for a robust, multi-dimensional market snapshot, capturing details missed by single-indicator tools.
By displaying all key metrics side-by-side, the screener enables holistic decision-making, revealing confluence zones and contradiction areas across multiple tickers and timeframes.
Unique Aspects
Original implementation combining seven independent trend and momentum indicators for each symbol
Rich customization for symbols, timeframes, and all indicator parameters
Intuitive color-coding for quick reading of bullish/bearish/neutral signals
Comprehensive dashboard for instant actionable insights
How to Use
Load the indicator onto your TradingView chart
Go to the script’s settings and input your preferred symbols and relevant timeframes
Set your desired parameters for each indicator group: Moving Average type, Aroon length, PSAR values, ADX smoothing, etc.
Observe the results in the top-right table, then use it to filter candidates and validate trade setups
The screener is suitable for all timeframes and asset classes available on TradingView. Make sure your chart’s timeframe matches the one used in the scanner for optimal accuracy.
Customization
Choose up to 15 symbols to monitor in a single dashboard
Customize lookback periods, indicator types, colors, and display settings
Configure alerting options and thresholds for advanced trade automation
Conclusion
The Multiple Symbol Trend Screener Pineify sets a new standard for multi-asset screening on TradingView. By elegantly merging seven proven technical indicators, the screener delivers powerful trend detection, reversal analysis, and volatility monitoring — all in one dashboard. Take your trading to new heights with in-depth, customizable market surveillance.
Strategy with Reference Lines📊 Strategy with Reference Lines
Description:
This strategy uses a contrarian approach based on the analysis of the previous candle to identify entry and exit points. The strategy draws horizontal reference lines at important levels of the previous candle and generates buy/sell signals based on the candle's direction.
Key Features:
🔹 Multi-Timeframe Analysis: Configurable for 1H, 2H, 3H, 4H, 6H, 12H, and 1D
🔹 Reference Lines: High, low, close, and midpoint (50%) of the previous candle
🔹 Visual Signals: Labels with prices and actions (BUY/SELL/TP)
🔹 Optional Trading: Enable/disable automatic order execution
🔹 Complete System: Automatic entry, Take Profit, and Stop Loss
🔹 Alerts: Notifications when a new candle is detected
Strategy Logic:
When the previous candle is POSITIVE:
Signal: 🔴 SELL at the previous candle's close
Take Profit: 🎯 Midpoint (50%) of the previous candle
Stop Loss: 🔴 High of the previous candle
When the previous candle is NEGATIVE:
Signal: 🟢 BUY at the previous candle's close
Take Profit: 🎯 Midpoint (50%) of the previous candle
Stop Loss: 🟢 Low of the previous candle
Visual Elements:
Green Line: High of the previous candle (when positive)
Red Line: Low of the previous candle (when negative)
Yellow Line: Close of the previous candle (always present)
Blue Line: Midpoint (50%) of the previous candle (always present)
Labels: Prices and actions with emojis for easy identification
Settings:
Timeframe: Default 4H (configurable)
Auto Trading: Disabled by default (safety)
Alerts: Include entry prices, TP, and SL
Recommended Usage:
✅ Visual Analysis: Use with trading disabled for analysis
✅ Backtesting: Enable trading to test historically
✅ Swing Trading: Ideal for 4H or higher timeframes
✅ Risk Management: Automatic SL and TP for protection
Risk Disclaimer:
This strategy is for educational and analysis purposes only. Always test in a simulation environment before using with real capital. Trading involves significant risks and may result in losses.
RSI Donchian Channel [DCAUT]█ RSI Donchian Channel
📊 ORIGINALITY & INNOVATION
The RSI Donchian Channel represents an important synthesis of two complementary analytical frameworks: momentum oscillators and breakout detection systems. This indicator addresses a common limitation in traditional RSI analysis by replacing fixed overbought/oversold thresholds with adaptive zones derived from historical RSI extremes.
Key Enhancement:
Traditional RSI analysis relies on static threshold levels (typically 30/70), which may not adequately reflect changing market volatility regimes. This indicator adapts the reference zones dynamically based on the actual RSI behavior over the lookback period, helping traders identify meaningful momentum extremes relative to recent price action rather than arbitrary fixed levels.
The implementation combines the proven momentum measurement capabilities of RSI with Donchian Channel's breakout detection methodology, creating a framework that identifies both momentum exhaustion points and potential continuation signals through the same analytical lens.
📐 MATHEMATICAL FOUNDATION
Core Calculation Process:
Step 1: RSI Calculation
The Relative Strength Index measures momentum by comparing the magnitude of recent gains to recent losses:
Calculate price changes between consecutive periods
Separate positive changes (gains) from negative changes (losses)
Apply selected smoothing method (RMA standard, also supports SMA, EMA, WMA) to both gain and loss series
Compute Relative Strength (RS) as the ratio of smoothed gains to smoothed losses
Transform RS into bounded 0-100 scale using the formula: RSI = 100 - (100 / (1 + RS))
Step 2: Donchian Channel Application
The Donchian Channel identifies the highest and lowest RSI values within the specified lookback period:
Upper Channel: Highest RSI value over the lookback period, represents the recent momentum peak
Lower Channel: Lowest RSI value over the lookback period, represents the recent momentum trough
Middle Channel (Basis): Average of upper and lower channels, serves as equilibrium reference
Channel Width Dynamics:
The distance between upper and lower channels reflects RSI volatility. Wide channels indicate high momentum variability, while narrow channels suggest momentum consolidation and potential breakout preparation. The indicator monitors channel width over a 100-period window to identify squeeze conditions that often precede significant momentum shifts.
📊 COMPREHENSIVE SIGNAL ANALYSIS
Primary Signal Categories:
Breakout Signals:
Upper Breakout: RSI crosses above the upper channel, indicates momentum reaching new relative highs and potential trend continuation, particularly significant when accompanied by price confirmation
Lower Breakout: RSI crosses below the lower channel, suggests momentum reaching new relative lows and potential trend exhaustion or reversal setup
Breakout strength is enhanced when the channel is narrow prior to the breakout, indicating a transition from consolidation to directional movement
Mean Reversion Signals:
Upper Touch Without Breakout: RSI reaches the upper channel but fails to break through, may indicate momentum exhaustion and potential reversal opportunity
Lower Touch Without Breakout: RSI reaches the lower channel without breakdown, suggests potential bounce as momentum reaches oversold extremes
Return to Basis: RSI moving back toward the middle channel after touching extremes signals momentum normalization
Trend Strength Assessment:
Sustained Upper Channel Riding: RSI consistently remains near or above the upper channel during strong uptrends, indicates persistent bullish momentum
Sustained Lower Channel Riding: RSI stays near or below the lower channel during strong downtrends, reflects persistent bearish pressure
Basis Line Position: RSI position relative to the middle channel helps identify the prevailing momentum bias
Channel Compression Patterns:
Squeeze Detection: Channel width narrowing to 100-period lows indicates momentum consolidation, often precedes significant directional moves
Expansion Phase: Channel widening after a squeeze confirms the initiation of a new momentum regime
Persistent Narrow Channels: Extended periods of tight channels suggest market indecision and accumulation/distribution phases
🎯 STRATEGIC APPLICATIONS
Trend Continuation Strategy:
This approach focuses on identifying and trading momentum breakouts that confirm established trends:
Identify the prevailing price trend using higher timeframe analysis or trend-following indicators
Wait for RSI to break above the upper channel in uptrends (or below the lower channel in downtrends)
Enter positions in the direction of the breakout when price action confirms the momentum shift
Place protective stops below the recent swing low (long positions) or above swing high (short positions)
Target profit levels based on prior swing extremes or use trailing stops to capture extended moves
Exit when RSI crosses back through the basis line in the opposite direction
Mean Reversion Strategy:
This method capitalizes on momentum extremes and subsequent corrections toward equilibrium:
Monitor for RSI reaching the upper or lower channel boundaries
Look for rejection signals (price reversal patterns, volume divergence) when RSI touches the channels
Enter counter-trend positions when RSI begins moving back toward the basis line
Use the basis line as the initial profit target for mean reversion trades
Implement tight stops beyond the channel extremes to limit risk on failed reversals
Scale out of positions as RSI approaches the basis line and closes the position when RSI crosses the basis
Breakout Preparation Strategy:
This approach positions traders ahead of potential volatility expansion from consolidation phases:
Identify squeeze conditions when channel width reaches 100-period lows
Monitor price action for consolidation patterns (triangles, rectangles, flags) during the squeeze
Prepare conditional orders for breakouts in both directions from the consolidation
Enter positions when RSI breaks out of the narrow channel with expanding width
Use the channel width expansion as a confirmation signal for the breakout's validity
Manage risk with stops just inside the opposite channel boundary
Multi-Timeframe Confluence Strategy:
Combining RSI Donchian Channel analysis across multiple timeframes can improve signal reliability:
Identify the primary trend direction using a higher timeframe RSI Donchian Channel (e.g., daily or weekly)
Use a lower timeframe (e.g., 4-hour or hourly) to time precise entry points
Enter long positions when both timeframes show RSI above their respective basis lines
Enter short positions when both timeframes show RSI below their respective basis lines
Avoid trades when timeframes provide conflicting signals (e.g., higher timeframe below basis, lower timeframe above)
Exit when the higher timeframe RSI crosses its basis line in the opposite direction
Risk Management Guidelines:
Effective risk management is essential for all RSI Donchian Channel strategies:
Position Sizing: Calculate position sizes based on the distance between entry point and stop loss, limiting risk to 1-2% of capital per trade
Stop Loss Placement: For breakout trades, place stops just inside the opposite channel boundary; for mean reversion trades, use stops beyond the channel extremes
Profit Targets: Use the basis line as a minimum target for mean reversion trades; for trend trades, target prior swing extremes or use trailing stops
Channel Width Context: Increase position sizes during narrow channels (lower volatility) and reduce sizes during wide channels (higher volatility)
Correlation Awareness: Monitor correlations between traded instruments to avoid over-concentration in similar setups
📋 DETAILED PARAMETER CONFIGURATION
RSI Source:
Defines the price data series used for RSI calculation:
Close (Default): Standard choice providing end-of-period momentum assessment, suitable for most trading styles and timeframes
High-Low Average (HL2): Reduces the impact of closing auction dynamics, useful for markets with significant end-of-day volatility
High-Low-Close Average (HLC3): Provides a more balanced view incorporating the entire period's range
Open-High-Low-Close Average (OHLC4): Offers the most comprehensive price representation, helpful for identifying overall period sentiment
Strategy Consideration: Use Close for end-of-period signals, HL2 or HLC3 for intraday volatility reduction, OHLC4 for capturing full period dynamics
RSI Length:
Controls the number of periods used for RSI calculation:
Short Periods (5-9): Highly responsive to recent price changes, produces more frequent signals with increased false signal risk, suitable for short-term trading and volatile markets
Standard Period (14): Widely accepted default balancing responsiveness with stability, appropriate for swing trading and intermediate-term analysis
Long Periods (21-28): Produces smoother RSI with fewer signals but more reliable trend identification, better for position trading and reducing noise in choppy markets
Optimization Approach: Test different lengths against historical data for your specific market and timeframe, consider using longer periods in ranging markets and shorter periods in trending markets
RSI MA Type:
Determines the smoothing method applied to price changes in RSI calculation:
RMA (Relative Moving Average - Default): Wilder's original smoothing method providing stable momentum measurement with gradual response to changes, maintains consistency with classical RSI interpretation
SMA (Simple Moving Average): Treats all periods equally, responds more quickly to changes than RMA but may produce more whipsaws in volatile conditions
EMA (Exponential Moving Average): Weights recent periods more heavily, increases responsiveness at the cost of potential noise, suitable for traders prioritizing early signal generation
WMA (Weighted Moving Average): Applies linear weighting favoring recent data, offers a middle ground between SMA and EMA responsiveness
Selection Guidance: Maintain RMA for consistency with traditional RSI analysis, use EMA or WMA for more responsive signals in fast-moving markets, apply SMA for maximum simplicity and transparency
DC Length:
Specifies the lookback period for Donchian Channel calculation on RSI values:
Short Periods (10-14): Creates tight channels that adapt quickly to changing momentum conditions, generates more frequent trading signals but increases sensitivity to short-term RSI fluctuations
Standard Period (20): Balances channel responsiveness with stability, aligns with traditional Bollinger Bands and moving average periods, suitable for most trading styles
Long Periods (30-50): Produces wider, more stable channels that better represent sustained momentum extremes, reduces signal frequency while improving reliability, appropriate for position traders and higher timeframes
Calibration Strategy: Match DC length to your trading timeframe (shorter for day trading, longer for swing trading), test channel width behavior during different market regimes, consider using adaptive periods that adjust to volatility conditions
Market Adaptation: Use shorter DC lengths in trending markets to capture momentum shifts earlier, apply longer periods in ranging markets to filter noise and focus on significant extremes
Parameter Combination Recommendations:
Scalping/Day Trading: RSI Length 5-9, DC Length 10-14, EMA or WMA smoothing for maximum responsiveness
Swing Trading: RSI Length 14, DC Length 20, RMA smoothing for balanced analysis (default configuration)
Position Trading: RSI Length 21-28, DC Length 30-50, RMA or SMA smoothing for stable signals
High Volatility Markets: Longer RSI periods (21+) with standard DC length (20) to reduce noise
Low Volatility Markets: Standard RSI length (14) with shorter DC length (10-14) to capture subtle momentum shifts
📈 PERFORMANCE ANALYSIS & COMPETITIVE ADVANTAGES
Adaptive Threshold Mechanism:
Unlike traditional RSI analysis with fixed 30/70 thresholds, this indicator's Donchian Channel approach provides several improvements:
Context-Aware Extremes: Overbought/oversold levels adjust automatically based on recent momentum behavior rather than arbitrary fixed values
Volatility Adaptation: In low volatility periods, channels narrow to reflect tighter momentum ranges; in high volatility, channels widen appropriately
Market Regime Recognition: The indicator implicitly adapts to different market conditions without manual threshold adjustments
False Signal Reduction: Adaptive channels help reduce premature reversal signals that often occur with fixed thresholds during strong trends
Signal Quality Characteristics:
The indicator's dual-purpose design provides distinct advantages for different trading objectives:
Breakout Trading: Channel boundaries offer clear, objective breakout levels that update dynamically, eliminating the ambiguity of when momentum becomes "too high" or "too low"
Mean Reversion: The basis line provides a natural profit target for reversion trades, representing the midpoint of recent momentum extremes
Trend Strength: Persistent channel boundary riding offers an objective measure of trend strength without additional indicators
Consolidation Detection: Channel width analysis provides early warning of potential volatility expansion from compression phases
Comparative Analysis:
When compared to traditional RSI implementations and other momentum frameworks:
vs. Fixed Threshold RSI: Provides market-adaptive reference levels rather than static values, helping to reduce false signals during trending markets where RSI can remain "overbought" or "oversold" for extended periods
vs. RSI Bollinger Bands: Offers clearer breakout signals and more intuitive extreme identification through actual high/low boundaries rather than statistical standard deviations
vs. Stochastic Oscillator: Maintains RSI's momentum measurement advantages (unbounded calculation avoiding scale compression) while adding the breakout detection capabilities of Donchian Channels
vs. Standard Donchian Channels: Applies breakout methodology to momentum space rather than price, providing earlier signals of potential trend changes before price breakouts occur
Performance Characteristics:
The indicator exhibits specific behavioral patterns across different market conditions:
Trending Markets: Excels at identifying momentum continuation through channel breakouts, RSI tends to ride one channel boundary during strong trends, providing trend confirmation
Ranging Markets: Channel width narrows during consolidation, offering early preparation signals for potential breakout trading opportunities
High Volatility: Channels widen to reflect increased momentum variability, automatically adjusting signal sensitivity to match market conditions
Low Volatility: Channels contract, making the indicator more sensitive to subtle momentum shifts that may be significant in calm market environments
Transition Periods: Channel squeezes often precede major trend changes, offering advance warning of potential regime shifts
Limitations and Considerations:
Users should be aware of certain operational characteristics:
Lookback Dependency: Channel boundaries depend entirely on the lookback period, meaning the indicator has no predictive element beyond identifying current momentum relative to recent history
Lag Characteristics: As with all moving average-based indicators, RSI calculation introduces lag, and channel boundaries update only as new extremes occur within the lookback window
Range-Bound Sensitivity: In extremely tight ranges, channels may become very narrow, potentially generating excessive signals from minor momentum fluctuations
Trending Persistence: During very strong trends, RSI may remain at channel extremes for extended periods, requiring patience for mean reversion setups or commitment to trend-following approaches
No Absolute Levels: Unlike traditional RSI, this indicator provides no fixed reference points (like 50), making it less suitable for strategies that depend on absolute momentum readings
USAGE NOTES
This indicator is designed for technical analysis and educational purposes to help traders understand momentum dynamics and identify potential trading opportunities. The RSI Donchian Channel has limitations and should not be used as the sole basis for trading decisions.
Important considerations:
Performance varies significantly across different market conditions, timeframes, and instruments
Historical signal patterns do not guarantee future results, as market behavior continuously evolves
Effective use requires understanding of both RSI momentum principles and Donchian Channel breakout concepts
Risk management practices (stop losses, position sizing, diversification) are essential for any trading application
Consider combining with additional analytical tools such as volume analysis, price action patterns, or trend indicators for confirmation
Backtest thoroughly on your specific instruments and timeframes before live trading implementation
Be aware that optimization on historical data may lead to curve-fitting and poor forward performance
The indicator performs best when used as part of a comprehensive trading methodology that incorporates multiple forms of market analysis, sound risk management, and realistic expectations about win rates and drawdowns.
Keltner Channel Enhanced [DCAUT]█ Keltner Channel Enhanced
📊 ORIGINALITY & INNOVATION
The Keltner Channel Enhanced represents an important advancement over standard Keltner Channel implementations by introducing dual flexibility in moving average selection for both the middle band and ATR calculation. While traditional Keltner Channels typically use EMA for the middle band and RMA (Wilder's smoothing) for ATR, this enhanced version provides access to 25+ moving average algorithms for both components, enabling traders to fine-tune the indicator's behavior to match specific market characteristics and trading approaches.
Key Advancements:
Dual MA Algorithm Flexibility: Independent selection of moving average types for middle band (25+ options) and ATR smoothing (25+ options), allowing optimization of both trend identification and volatility measurement separately
Enhanced Trend Sensitivity: Ability to use faster algorithms (HMA, T3) for middle band while maintaining stable volatility measurement with traditional ATR smoothing, or vice versa for different trading strategies
Adaptive Volatility Measurement: Choice of ATR smoothing algorithm affects channel responsiveness to volatility changes, from highly reactive (SMA, EMA) to smoothly adaptive (RMA, TEMA)
Comprehensive Alert System: Five distinct alert conditions covering breakouts, trend changes, and volatility expansion, enabling automated monitoring without constant chart observation
Multi-Timeframe Compatibility: Works effectively across all timeframes from intraday scalping to long-term position trading, with independent optimization of trend and volatility components
This implementation addresses key limitations of standard Keltner Channels: fixed EMA/RMA combination may not suit all market conditions or trading styles. By decoupling the trend component from volatility measurement and allowing independent algorithm selection, traders can create highly customized configurations for specific instruments and market phases.
📐 MATHEMATICAL FOUNDATION
Keltner Channel Enhanced uses a three-component calculation system that combines a flexible moving average middle band with ATR-based (Average True Range) upper and lower channels, creating volatility-adjusted trend-following bands.
Core Calculation Process:
1. Middle Band (Basis) Calculation:
The basis line is calculated using the selected moving average algorithm applied to the price source over the specified period:
basis = ma(source, length, maType)
Supported algorithms include EMA (standard choice, trend-biased), SMA (balanced and symmetric), HMA (reduced lag), WMA, VWMA, TEMA, T3, KAMA, and 17+ others.
2. Average True Range (ATR) Calculation:
ATR measures market volatility by calculating the average of true ranges over the specified period:
trueRange = max(high - low, abs(high - close ), abs(low - close ))
atrValue = ma(trueRange, atrLength, atrMaType)
ATR smoothing algorithm significantly affects channel behavior, with options including RMA (standard, very smooth), SMA (moderate smoothness), EMA (fast adaptation), TEMA (smooth yet responsive), and others.
3. Channel Calculation:
Upper and lower channels are positioned at specified multiples of ATR from the basis:
upperChannel = basis + (multiplier × atrValue)
lowerChannel = basis - (multiplier × atrValue)
Standard multiplier is 2.0, providing channels that dynamically adjust width based on market volatility.
Keltner Channel vs. Bollinger Bands - Key Differences:
While both indicators create volatility-based channels, they use fundamentally different volatility measures:
Keltner Channel (ATR-based):
Uses Average True Range to measure actual price movement volatility
Incorporates gaps and limit moves through true range calculation
More stable in trending markets, less prone to extreme compression
Better reflects intraday volatility and trading range
Typically fewer band touches, making touches more significant
More suitable for trend-following strategies
Bollinger Bands (Standard Deviation-based):
Uses statistical standard deviation to measure price dispersion
Based on closing prices only, doesn't account for intraday range
Can compress significantly during consolidation (squeeze patterns)
More touches in ranging markets
Better suited for mean-reversion strategies
Provides statistical probability framework (95% within 2 standard deviations)
Algorithm Combination Effects:
The interaction between middle band MA type and ATR MA type creates different indicator characteristics:
Trend-Focused Configuration (Fast MA + Slow ATR): Middle band uses HMA/EMA/T3, ATR uses RMA/TEMA, quick trend changes with stable channel width, suitable for trend-following
Volatility-Focused Configuration (Slow MA + Fast ATR): Middle band uses SMA/WMA, ATR uses EMA/SMA, stable trend with dynamic channel width, suitable for volatility trading
Balanced Configuration (Standard EMA/RMA): Classic Keltner Channel behavior, time-tested combination, suitable for general-purpose trend following
Adaptive Configuration (KAMA + KAMA): Self-adjusting indicator responding to efficiency ratio, suitable for markets with varying trend strength and volatility regimes
📊 COMPREHENSIVE SIGNAL ANALYSIS
Keltner Channel Enhanced provides multiple signal categories optimized for trend-following and breakout strategies.
Channel Position Signals:
Upper Channel Interaction:
Price Touching Upper Channel: Strong bullish momentum, price moving more than typical volatility range suggests, potential continuation signal in established uptrends
Price Breaking Above Upper Channel: Exceptional strength, price exceeding normal volatility expectations, consider adding to long positions or tightening trailing stops
Price Riding Upper Channel: Sustained strong uptrend, characteristic of powerful bull moves, stay with trend and avoid premature profit-taking
Price Rejection at Upper Channel: Momentum exhaustion signal, consider profit-taking on longs or waiting for pullback to middle band for reentry
Lower Channel Interaction:
Price Touching Lower Channel: Strong bearish momentum, price moving more than typical volatility range suggests, potential continuation signal in established downtrends
Price Breaking Below Lower Channel: Exceptional weakness, price exceeding normal volatility expectations, consider adding to short positions or protecting against further downside
Price Riding Lower Channel: Sustained strong downtrend, characteristic of powerful bear moves, stay with trend and avoid premature covering
Price Rejection at Lower Channel: Momentum exhaustion signal, consider covering shorts or waiting for bounce to middle band for reentry
Middle Band (Basis) Signals:
Trend Direction Confirmation:
Price Above Basis: Bullish trend bias, middle band acts as dynamic support in uptrends, consider long positions or holding existing longs
Price Below Basis: Bearish trend bias, middle band acts as dynamic resistance in downtrends, consider short positions or avoiding longs
Price Crossing Above Basis: Potential trend change from bearish to bullish, early signal to establish long positions
Price Crossing Below Basis: Potential trend change from bullish to bearish, early signal to establish short positions or exit longs
Pullback Trading Strategy:
Uptrend Pullback: Price pulls back from upper channel to middle band, finds support, and resumes upward, ideal long entry point
Downtrend Bounce: Price bounces from lower channel to middle band, meets resistance, and resumes downward, ideal short entry point
Basis Test: Strong trends often show price respecting the middle band as support/resistance on pullbacks
Failed Test: Price breaking through middle band against trend direction signals potential reversal
Volatility-Based Signals:
Narrow Channels (Low Volatility):
Consolidation Phase: Channels contract during periods of reduced volatility and directionless price action
Breakout Preparation: Narrow channels often precede significant directional moves as volatility cycles
Trading Approach: Reduce position sizes, wait for breakout confirmation, avoid range-bound strategies within channels
Breakout Direction: Monitor for price breaking decisively outside channel range with expanding width
Wide Channels (High Volatility):
Trending Phase: Channels expand during strong directional moves and increased volatility
Momentum Confirmation: Wide channels confirm genuine trend with substantial volatility backing
Trading Approach: Trend-following strategies excel, wider stops necessary, mean-reversion strategies risky
Exhaustion Signs: Extreme channel width (historical highs) may signal approaching consolidation or reversal
Advanced Pattern Recognition:
Channel Walking Pattern:
Upper Channel Walk: Price consistently touches or exceeds upper channel while staying above basis, very strong uptrend signal, hold longs aggressively
Lower Channel Walk: Price consistently touches or exceeds lower channel while staying below basis, very strong downtrend signal, hold shorts aggressively
Basis Support/Resistance: During channel walks, price typically uses middle band as support/resistance on minor pullbacks
Pattern Break: Price crossing basis during channel walk signals potential trend exhaustion
Squeeze and Release Pattern:
Squeeze Phase: Channels narrow significantly, price consolidates near middle band, volatility contracts
Direction Clues: Watch for price positioning relative to basis during squeeze (above = bullish bias, below = bearish bias)
Release Trigger: Price breaking outside narrow channel range with expanding width confirms breakout
Follow-Through: Measure squeeze height and project from breakout point for initial profit targets
Channel Expansion Pattern:
Breakout Confirmation: Rapid channel widening confirms volatility increase and genuine trend establishment
Entry Timing: Enter positions early in expansion phase before trend becomes overextended
Risk Management: Use channel width to size stops appropriately, wider channels require wider stops
Basis Bounce Pattern:
Clean Bounce: Price touches middle band and immediately reverses, confirms trend strength and entry opportunity
Multiple Bounces: Repeated basis bounces indicate strong, sustainable trend
Bounce Failure: Price penetrating basis signals weakening trend and potential reversal
Divergence Analysis:
Price/Channel Divergence: Price makes new high/low while staying within channel (not reaching outer band), suggests momentum weakening
Width/Price Divergence: Price breaks to new extremes but channel width contracts, suggests move lacks conviction
Reversal Signal: Divergences often precede trend reversals or significant consolidation periods
Multi-Timeframe Analysis:
Keltner Channels work particularly well in multi-timeframe trend-following approaches:
Three-Timeframe Alignment:
Higher Timeframe (Weekly/Daily): Identify major trend direction, note price position relative to basis and channels
Intermediate Timeframe (Daily/4H): Identify pullback opportunities within higher timeframe trend
Lower Timeframe (4H/1H): Time precise entries when price touches middle band or lower channel (in uptrends) with rejection
Optimal Entry Conditions:
Best Long Entries: Higher timeframe in uptrend (price above basis), intermediate timeframe pulls back to basis, lower timeframe shows rejection at middle band or lower channel
Best Short Entries: Higher timeframe in downtrend (price below basis), intermediate timeframe bounces to basis, lower timeframe shows rejection at middle band or upper channel
Risk Management: Use higher timeframe channel width to set position sizing, stops below/above higher timeframe channels
🎯 STRATEGIC APPLICATIONS
Keltner Channel Enhanced excels in trend-following and breakout strategies across different market conditions.
Trend Following Strategy:
Setup Requirements:
Identify established trend with price consistently on one side of basis line
Wait for pullback to middle band (basis) or brief penetration through it
Confirm trend resumption with price rejection at basis and move back toward outer channel
Enter in trend direction with stop beyond basis line
Entry Rules:
Uptrend Entry:
Price pulls back from upper channel to middle band, shows support at basis (bullish candlestick, momentum divergence)
Enter long on rejection/bounce from basis with stop 1-2 ATR below basis
Aggressive: Enter on first touch; Conservative: Wait for confirmation candle
Downtrend Entry:
Price bounces from lower channel to middle band, shows resistance at basis (bearish candlestick, momentum divergence)
Enter short on rejection/reversal from basis with stop 1-2 ATR above basis
Aggressive: Enter on first touch; Conservative: Wait for confirmation candle
Trend Management:
Trailing Stop: Use basis line as dynamic trailing stop, exit if price closes beyond basis against position
Profit Taking: Take partial profits at opposite channel, move stops to basis
Position Additions: Add to winners on subsequent basis bounces if trend intact
Breakout Strategy:
Setup Requirements:
Identify consolidation period with contracting channel width
Monitor price action near middle band with reduced volatility
Wait for decisive breakout beyond channel range with expanding width
Enter in breakout direction after confirmation
Breakout Confirmation:
Price breaks clearly outside channel (upper for longs, lower for shorts), channel width begins expanding from contracted state
Volume increases significantly on breakout (if using volume analysis)
Price sustains outside channel for multiple bars without immediate reversal
Entry Approaches:
Aggressive: Enter on initial break with stop at opposite channel or basis, use smaller position size
Conservative: Wait for pullback to broken channel level, enter on rejection and resumption, tighter stop
Volatility-Based Position Sizing:
Adjust position sizing based on channel width (ATR-based volatility):
Wide Channels (High ATR): Reduce position size as stops must be wider, calculate position size using ATR-based risk calculation: Risk / (Stop Distance in ATR × ATR Value)
Narrow Channels (Low ATR): Increase position size as stops can be tighter, be cautious of impending volatility expansion
ATR-Based Risk Management: Use ATR-based risk calculations, position size = 0.01 × Capital / (2 × ATR), use multiples of ATR (1-2 ATR) for adaptive stops
Algorithm Selection Guidelines:
Different market conditions benefit from different algorithm combinations:
Strong Trending Markets: Middle band use EMA or HMA, ATR use RMA, capture trends quickly while maintaining stable channel width
Choppy/Ranging Markets: Middle band use SMA or WMA, ATR use SMA or WMA, avoid false trend signals while identifying genuine reversals
Volatile Markets: Middle band and ATR both use KAMA or FRAMA, self-adjusting to changing market conditions reduces manual optimization
Breakout Trading: Middle band use SMA, ATR use EMA or SMA, stable trend with dynamic channels highlights volatility expansion early
Scalping/Day Trading: Middle band use HMA or T3, ATR use EMA or TEMA, both components respond quickly
Position Trading: Middle band use EMA/TEMA/T3, ATR use RMA or TEMA, filter out noise for long-term trend-following
📋 DETAILED PARAMETER CONFIGURATION
Understanding and optimizing parameters is essential for adapting Keltner Channel Enhanced to specific trading approaches.
Source Parameter:
Close (Most Common): Uses closing price, reflects daily settlement, best for end-of-day analysis and position trading, standard choice
HL2 (Median Price): Smooths out closing bias, better represents full daily range in volatile markets, good for swing trading
HLC3 (Typical Price): Gives more weight to close while including full range, popular for intraday applications, slightly more responsive than HL2
OHLC4 (Average Price): Most comprehensive price representation, smoothest option, good for gap-prone markets or highly volatile instruments
Length Parameter:
Controls the lookback period for middle band (basis) calculation:
Short Periods (10-15): Very responsive to price changes, suitable for day trading and scalping, higher false signal rate
Standard Period (20 - Default): Represents approximately one month of trading, good balance between responsiveness and stability, suitable for swing and position trading
Medium Periods (30-50): Smoother trend identification, fewer false signals, better for position trading and longer holding periods
Long Periods (50+): Very smooth, identifies major trends only, minimal false signals but significant lag, suitable for long-term investment
Optimization by Timeframe: 1-15 minute charts use 10-20 period, 30-60 minute charts use 20-30 period, 4-hour to daily charts use 20-40 period, weekly charts use 20-30 weeks.
ATR Length Parameter:
Controls the lookback period for Average True Range calculation, affecting channel width:
Short ATR Periods (5-10): Very responsive to recent volatility changes, standard is 10 (Keltner's original specification), may be too reactive in whipsaw conditions
Standard ATR Period (10 - Default): Chester Keltner's original specification, good balance between responsiveness and stability, most widely used
Medium ATR Periods (14-20): Smoother channel width, ATR 14 aligns with Wilder's original ATR specification, good for position trading
Long ATR Periods (20+): Very smooth channel width, suitable for long-term trend-following
Length vs. ATR Length Relationship: Equal values (20/20) provide balanced responsiveness, longer ATR (20/14) gives more stable channel width, shorter ATR (20/10) is standard configuration, much shorter ATR (20/5) creates very dynamic channels.
Multiplier Parameter:
Controls channel width by setting ATR multiples:
Lower Values (1.0-1.5): Tighter channels with frequent price touches, more trading signals, higher false signal rate, better for range-bound and mean-reversion strategies
Standard Value (2.0 - Default): Chester Keltner's recommended setting, good balance between signal frequency and reliability, suitable for both trending and ranging strategies
Higher Values (2.5-3.0): Wider channels with less frequent touches, fewer but potentially higher-quality signals, better for strong trending markets
Market-Specific Optimization: High volatility markets (crypto, small-caps) use 2.5-3.0 multiplier, medium volatility markets (major forex, large-caps) use 2.0 multiplier, low volatility markets (bonds, utilities) use 1.5-2.0 multiplier.
MA Type Parameter (Middle Band):
Critical selection that determines trend identification characteristics:
EMA (Exponential Moving Average - Default): Standard Keltner Channel choice, Chester Keltner's original specification, emphasizes recent prices, faster response to trend changes, suitable for all timeframes
SMA (Simple Moving Average): Equal weighting of all data points, no directional bias, slower than EMA, better for ranging markets and mean-reversion
HMA (Hull Moving Average): Minimal lag with smooth output, excellent for fast trend identification, best for day trading and scalping
TEMA (Triple Exponential Moving Average): Advanced smoothing with reduced lag, responsive to trends while filtering noise, suitable for volatile markets
T3 (Tillson T3): Very smooth with minimal lag, excellent for established trend identification, suitable for position trading
KAMA (Kaufman Adaptive Moving Average): Automatically adjusts speed based on market efficiency, slow in ranging markets, fast in trends, suitable for markets with varying conditions
ATR MA Type Parameter:
Determines how Average True Range is smoothed, affecting channel width stability:
RMA (Wilder's Smoothing - Default): J. Welles Wilder's original ATR smoothing method, very smooth, slow to adapt to volatility changes, provides stable channel width
SMA (Simple Moving Average): Equal weighting, moderate smoothness, faster response to volatility changes than RMA, more dynamic channel width
EMA (Exponential Moving Average): Emphasizes recent volatility, quick adaptation to new volatility regimes, very responsive channel width changes
TEMA (Triple Exponential Moving Average): Smooth yet responsive, good balance for varying volatility, suitable for most trading styles
Parameter Combination Strategies:
Conservative Trend-Following: Length 30/ATR Length 20/Multiplier 2.5, MA Type EMA or TEMA/ATR MA Type RMA, smooth trend with stable wide channels, suitable for position trading
Standard Balanced Approach: Length 20/ATR Length 10/Multiplier 2.0, MA Type EMA/ATR MA Type RMA, classic Keltner Channel configuration, suitable for general purpose swing trading
Aggressive Day Trading: Length 10-15/ATR Length 5-7/Multiplier 1.5-2.0, MA Type HMA or EMA/ATR MA Type EMA or SMA, fast trend with dynamic channels, suitable for scalping and day trading
Breakout Specialist: Length 20-30/ATR Length 5-10/Multiplier 2.0, MA Type SMA or WMA/ATR MA Type EMA or SMA, stable trend with responsive channel width
Adaptive All-Conditions: Length 20/ATR Length 10/Multiplier 2.0, MA Type KAMA or FRAMA/ATR MA Type KAMA or TEMA, self-adjusting to market conditions
Offset Parameter:
Controls horizontal positioning of channels on chart. Positive values shift channels to the right (future) for visual projection, negative values shift left (past) for historical analysis, zero (default) aligns with current price bars for real-time signal analysis. Offset affects only visual display, not alert conditions or actual calculations.
📈 PERFORMANCE ANALYSIS & COMPETITIVE ADVANTAGES
Keltner Channel Enhanced provides improvements over standard implementations while maintaining proven effectiveness.
Response Characteristics:
Standard EMA/RMA Configuration: Moderate trend lag (approximately 0.4 × length periods), smooth and stable channel width from RMA smoothing, good balance for most market conditions
Fast HMA/EMA Configuration: Approximately 60% reduction in trend lag compared to EMA, responsive channel width from EMA ATR smoothing, suitable for quick trend changes and breakouts
Adaptive KAMA/KAMA Configuration: Variable lag based on market efficiency, automatic adjustment to trending vs. ranging conditions, self-optimizing behavior reduces manual intervention
Comparison with Traditional Keltner Channels:
Enhanced Version Advantages:
Dual Algorithm Flexibility: Independent MA selection for trend and volatility vs. fixed EMA/RMA, separate tuning of trend responsiveness and channel stability
Market Adaptation: Choose configurations optimized for specific instruments and conditions, customize for scalping, swing, or position trading preferences
Comprehensive Alerts: Enhanced alert system including channel expansion detection
Traditional Version Advantages:
Simplicity: Fewer parameters, easier to understand and implement
Standardization: Fixed EMA/RMA combination ensures consistency across users
Research Base: Decades of backtesting and research on standard configuration
When to Use Enhanced Version: Trading multiple instruments with different characteristics, switching between trending and ranging markets, employing different strategies, algorithm-based trading systems requiring customization, seeking optimization for specific trading style and timeframe.
When to Use Standard Version: Beginning traders learning Keltner Channel concepts, following published research or trading systems, preferring simplicity and standardization, wanting to avoid optimization and curve-fitting risks.
Performance Across Market Conditions:
Strong Trending Markets: EMA or HMA basis with RMA or TEMA ATR smoothing provides quicker trend identification, pullbacks to basis offer excellent entry opportunities
Choppy/Ranging Markets: SMA or WMA basis with RMA ATR smoothing and lower multipliers, channel bounce strategies work well, avoid false breakouts
Volatile Markets: KAMA or FRAMA with EMA or TEMA, adaptive algorithms excel by automatic adjustment, wider multipliers (2.5-3.0) accommodate large price swings
Low Volatility/Consolidation: Channels narrow significantly indicating consolidation, algorithm choice less impactful, focus on detecting channel width contraction for breakout preparation
Keltner Channel vs. Bollinger Bands - Usage Comparison:
Favor Keltner Channels When: Trend-following is primary strategy, trading volatile instruments with gaps, want ATR-based volatility measurement, prefer fewer higher-quality channel touches, seeking stable channel width during trends.
Favor Bollinger Bands When: Mean-reversion is primary strategy, trading instruments with limited gaps, want statistical framework based on standard deviation, need squeeze patterns for breakout identification, prefer more frequent trading opportunities.
Use Both Together: Bollinger Band squeeze + Keltner Channel breakout is powerful combination, price outside Bollinger Bands but inside Keltner Channels indicates moderate signal, price outside both indicates very strong signal, Bollinger Bands for entries and Keltner Channels for trend confirmation.
Limitations and Considerations:
General Limitations:
Lagging Indicator: All moving averages lag price, even with reduced-lag algorithms
Trend-Dependent: Works best in trending markets, less effective in choppy conditions
No Direction Prediction: Indicates volatility and deviation, not future direction, requires confirmation
Enhanced Version Specific Considerations:
Optimization Risk: More parameters increase risk of curve-fitting historical data
Complexity: Additional choices may overwhelm beginning traders
Backtesting Challenges: Different algorithms produce different historical results
Mitigation Strategies:
Use Confirmation: Combine with momentum indicators (RSI, MACD), volume, or price action
Test Parameter Robustness: Ensure parameters work across range of values, not just optimized ones
Multi-Timeframe Analysis: Confirm signals across different timeframes
Proper Risk Management: Use appropriate position sizing and stops
Start Simple: Begin with standard EMA/RMA before exploring alternatives
Optimal Usage Recommendations:
For Maximum Effectiveness:
Start with standard EMA/RMA configuration to understand classic behavior
Experiment with alternatives on demo account or paper trading
Match algorithm combination to market condition and trading style
Use channel width analysis to identify market phases
Combine with complementary indicators for confirmation
Implement strict risk management using ATR-based position sizing
Focus on high-quality setups rather than trading every signal
Respect the trend: trade with basis direction for higher probability
Complementary Indicators:
RSI or Stochastic: Confirm momentum at channel extremes
MACD: Confirm trend direction and momentum shifts
Volume: Validate breakouts and trend strength
ADX: Measure trend strength, avoid Keltner signals in weak trends
Support/Resistance: Combine with traditional levels for high-probability setups
Bollinger Bands: Use together for enhanced breakout and volatility analysis
USAGE NOTES
This indicator is designed for technical analysis and educational purposes. Keltner Channel Enhanced has limitations and should not be used as the sole basis for trading decisions. While the flexible moving average selection for both trend and volatility components provides valuable adaptability across different market conditions, algorithm performance varies with market conditions, and past characteristics do not guarantee future results.
Key considerations:
Always use multiple forms of analysis and confirmation before entering trades
Backtest any parameter combination thoroughly before live trading
Be aware that optimization can lead to curve-fitting if not done carefully
Start with standard EMA/RMA settings and adjust only when specific conditions warrant
Understand that no moving average algorithm can eliminate lag entirely
Consider market regime (trending, ranging, volatile) when selecting parameters
Use ATR-based position sizing and risk management on every trade
Keltner Channels work best in trending markets, less effective in choppy conditions
Respect the trend direction indicated by price position relative to basis line
The enhanced flexibility of dual algorithm selection provides powerful tools for adaptation but requires responsible use, thorough understanding of how different algorithms behave under various market conditions, and disciplined risk management.
Ichimoku Screener [Pineify]Advanced Multi-Timeframe Ichimoku Screener - Complete Market Analysis Tool
This sophisticated Ichimoku Screener represents a comprehensive approach to multi-timeframe market analysis, combining four distinct Ichimoku-based indicators into a unified screening system. Unlike traditional single-symbol indicators, this screener provides simultaneous analysis across multiple assets and timeframes, enabling traders to identify optimal trading opportunities with enhanced precision and efficiency.
Key Features
Multi-asset screening capability for up to 10 symbols simultaneously
Four customizable timeframes per symbol for comprehensive analysis
Four integrated Ichimoku-based indicators working in harmony
Real-time visual feedback with color-coded signals
Customizable Ichimoku parameters for personalized analysis
Clean, organized table display for easy interpretation
Automated signal strength assessment and timing
How It Works
The screener employs the traditional Ichimoku Kinko Hyo methodology, utilizing five core components: Conversion Line (Tenkan-sen), Base Line (Kijun-sen), Leading Span A (Senkou Span A), Leading Span B (Senkou Span B), and displacement calculations. Each component is mathematically calculated using specific period lengths:
Conversion Line = (Highest High + Lowest Low) / 2 over conversion period
Base Line = (Highest High + Lowest Low) / 2 over base period
Leading Span A = (Conversion Line + Base Line) / 2
Leading Span B = (Highest High + Lowest Low) / 2 over lagging span period
The screener processes these calculations across multiple securities simultaneously using TradingView's security() function, enabling real-time cross-asset analysis. The system tracks state changes using barssince() functions to provide precise timing information for each signal type.
Trading Ideas and Insights
This screener excels in identifying momentum convergence patterns where multiple Ichimoku components align across different timeframes. The most powerful signals occur when:
Cloud color aligns with price position relative to the cloud
Conversion Line crosses above/below Base Line in the same direction as cloud bias
Multiple timeframes show consistent directional bias
Entry signals appear with minimal bars since formation (indicating fresh momentum)
For trend following strategies , focus on symbols where the cloud maintains consistent color across higher timeframes while showing recent entry signals on lower timeframes. For reversal opportunities , identify assets where cloud color changes coincide with price re-entering the cloud after extended periods above or below.
The screener particularly excels in cryptocurrency and forex markets where momentum shifts can be dramatic and sustained. By monitoring multiple timeframes simultaneously, traders can identify when short-term signals align with longer-term trends, significantly improving trade success probability.
How Multiple Indicators Work Together
The four integrated indicators create a comprehensive analytical framework through synergistic interaction:
Ichimoku Cloud (IchiCld) establishes the primary trend bias by comparing Leading Span A with Leading Span B. When Span A > Span B, the cloud displays bullish characteristics; when Span A < Span B, bearish characteristics emerge. The indicator tracks duration since the last cloud color change, providing momentum persistence insight.
Ichimoku Lagging Cloud (IchiLagCld) determines price position relative to the displaced cloud formation. This indicator identifies whether current price action occurs above, below, or within the cloud structure, revealing support/resistance dynamics and trend confirmation signals.
Conversion vs Base (IchiC>Base) monitors the relationship between short-term (Conversion Line) and medium-term (Base Line) momentum. Crossovers in this relationship often precede significant price movements and provide early trend change warnings.
Ichimoku Entry (IchiEnt) synthesizes all components into actionable signals by requiring alignment between cloud bias, price position, and conversion/base relationship. This multi-factor confirmation approach significantly reduces false signals while maintaining sensitivity to genuine momentum shifts.
The mathematical foundation ensures that each indicator contributes unique information while maintaining logical consistency. The system's strength lies in requiring multiple confirmations before generating entry signals, following Ichimoku's original philosophy of comprehensive market analysis.
Unique Aspects
This implementation distinguishes itself through several innovative features:
Advanced State Tracking : Unlike standard Ichimoku indicators that show current values, this screener tracks duration since state changes , providing crucial timing information for signal freshness and momentum strength assessment.
Multi-Asset Efficiency : The screener eliminates the need to manually check multiple charts by presenting comparative analysis across assets and timeframes in a single view, dramatically improving analytical efficiency.
Customizable Visual Feedback : The color-coding system adapts to different signal types and strengths, with recent signals receiving enhanced visual prominence to draw attention to fresh opportunities.
Professional Table Architecture : The organized display accommodates up to 40 symbol-timeframe combinations (10 symbols × 4 timeframes), with intelligent pagination for optimal screen utilization.
Signal Correlation Analysis : By displaying multiple timeframes for each symbol, traders can quickly identify timeframe confluence and divergence patterns that would otherwise require extensive manual analysis.
How to Use
Symbol Configuration : Enter up to 10 symbols in the Symbol input group. Use full exchange:ticker format for optimal compatibility (e.g., "BINANCE:BTCUSDT").
Timeframe Selection : Configure four timeframes in ascending order for logical analysis progression. Recommended combinations include 1m/5m/15m/1h for intraday analysis or 1h/4h/1D/1W for swing trading.
Ichimoku Parameters : Adjust the four core parameters based on your trading style:
Conversion Line Length (default: 9) - Controls short-term momentum sensitivity
Base Line Length (default: 26) - Determines medium-term trend identification
Leading Span B Length (default: 52) - Sets long-term trend calculation period
Displacement (default: 26) - Controls forward projection of cloud structure
Signal Interpretation :
Green backgrounds indicate bullish conditions
Red backgrounds indicate bearish conditions
Numerical values show bars since last state change
"L:" prefix indicates long entry signals
"S:" prefix indicates short entry signals
"N/A" indicates neutral/transitional states
Trading Workflow : Scan for symbols showing consistent signals across multiple timeframes, prioritize fresh signals (low bar counts), and use individual charts for precise entry timing and risk management.
Customization
The screener accommodates various trading approaches through parameter adjustment:
Scalping Configuration : Use shorter periods (Conversion: 5, Base: 13, Span B: 26) with 1m/3m/5m/15m timeframes for high-frequency opportunities.
Swing Trading Setup : Employ standard parameters with 4h/1D/3D/1W timeframes for position trading across days or weeks.
Cryptocurrency Optimization : Given crypto's 24/7 nature, consider using 4h/8h/1D/3D combinations for optimal signal timing.
Symbol selection can focus on correlated assets (e.g., major cryptocurrencies) for sector analysis or diverse assets for portfolio opportunity identification. The flexible timeframe configuration allows adaptation to any market's characteristic volatility and trading patterns.
Conclusion
This Advanced Multi-Timeframe Ichimoku Screener transforms traditional single-chart analysis into a comprehensive market monitoring system. By integrating multiple Ichimoku components across various timeframes and assets, it provides traders with unprecedented analytical efficiency and signal reliability.
The mathematical rigor of traditional Ichimoku analysis combines with modern Pine Script capabilities to deliver a professional-grade screening tool. Whether used for identifying trend continuation opportunities, spotting potential reversals, or conducting broad market analysis, this screener offers the analytical depth and practical functionality required for serious trading applications.
The system's emphasis on signal confluence across multiple timeframes and indicators significantly improves trade selection quality while reducing analysis time. For traders seeking to leverage Ichimoku's proven methodology across multiple markets simultaneously, this screener represents an essential analytical upgrade to traditional single-symbol approaches.
Alt buy signal 1H Entry + 4H Confirm (MACD + Stoch RSI + HMA)This indicator is a multi-timeframe (MTF) analysis tool designed for the ALT trading , capturing entry signals on the 1-hour (1H) timeframe and confirming trends on the 4-hour (4H) timeframe. It combines MACD, Stoch RSI, and Hull Moving Average (HMA) to identify precise buy opportunities, particularly at reversal points after a downtrend or during trend shifts. It visually marks both past and current BUY signals for easy reference.
Key Features:
1H Entry Signal (Early Ping): Triggers on a MACD golden cross (below 0) combined with a Stoch RSI oversold cross (below 20), offering an initial buy opportunity.
4H Trend Confirmation (Entry Ready): Validates the trend with a 4H MACD histogram rising (in negative territory) or a golden cross, plus a Stoch RSI turn-up (above 30).
Past BUY Display: Labels past data points where these conditions were met as "1H BUY" or "FULL BUY," facilitating backtesting.
HMA Filter: Optional HMA(16) to confirm price breakouts, enhancing trend validation.
Purpose: Ideal for short-term scalping and swing trading. Supports a two-step strategy: initial partial entry on 1H signals, followed by additional entry on 4H confirmation.
Usage Instructions
Installation: Add the indicator to an IMX/USDT 1H chart on TradingView.
Signal Interpretation:
lime "1H BUY": 1H conditions met, consider initial entry (stop-loss: 3-5% below recent low).
green "FULL BUY": 1H+4H conditions met, confirm trend for additional entry (take-profit: 10% below recent swing high).
Customization: Adjust TF (1H/4H), MACD/Stoch RSI parameters, and HMA usage via the input settings.
Alert Setup: Enable alerts for "ENTRY READY" (1H+4H) or "EARLY PING" (1H only) conditions.
Advantages
Accuracy: Reduces false signals by combining MACD golden cross below 0 with Stoch RSI oversold conditions.
Dual Confirmation: 1H for quick timing and 4H for trend validation, improving risk management.
Visualization: Past BUY points enable easy backtesting and pattern recognition.
Flexibility: 4H confirmation mode adjustable (histogram rise or golden cross).
Limitations
Timeframe Dependency: Optimized for 1H charts; may not work on other timeframes.
Market Conditions: Potential whipsaws in sideways markets; additional filters (e.g., RSI > 50) recommended.
Manual Management: Stop-loss and take-profit require user discretion.
Candle Opens by HAZED🎯 Candle Opens by HAZED - Multi-Timeframe Open Levels Indicator
📊 Overview
This powerful indicator displays multiple timeframe opening prices on your chart, providing crucial reference levels that institutional traders and algorithms frequently monitor. Track up to 7 different timeframe opens simultaneously, from 1-hour to yearly, with advanced visualization features including dynamic coloring, heatmap analysis, and real-time status tracking.
✨ Key Features
📈 Multi-Timeframe Support:
- 1H, 4H, Daily, Weekly, Monthly, Quarterly, and Yearly opens
- Each timeframe can be individually enabled/disabled
- Automatic visibility adjustment based on chart timeframe
🎨 Dynamic Visual System:
- Smart Color Coding: Lines automatically change color based on price position (green above, red below)
- Customizable Styling: Adjust line thickness, transparency, and colors
- Intelligent Line Positioning: Choose between equal-length or staggered lines for better visibility
- Enhanced Labels: Display timeframe only or include price with colored background
🌈 Advanced Heatmap:
- Background coloring shows overall market sentiment across all timeframes
- Gradient or solid color modes
- Instantly see when multiple timeframes align bullish or bearish
📊 Status Table Dashboard:
- Real-time overview of all active opens
- Shows current price position relative to each open
- Simplified view when all timeframes align
- Customizable position and font style
⚙️ Professional Tools:
- Alert system for new open levels
- Extended hours session support
- Price discovery mode for EOD/intraday discrepancies
- Left/right line extensions for enhanced visibility
💡 Trading Applications
Support & Resistance:
Opening prices act as natural support/resistance levels. Price often reacts at these levels, providing entry/exit opportunities.
Trend Confirmation:
When price is above multiple opens (especially higher timeframes), it confirms bullish momentum. The opposite indicates bearish pressure.
Mean Reversion:
Price tends to revert to significant opens, particularly daily and weekly levels. Use these as targets for counter-trend trades.
Breakout Trading:
Monitor when price breaks above/below clustered opens for potential continuation moves.
Risk Management:
Use opens as logical stop-loss levels or position sizing references based on distance from key opens.
🔧 Indicator Settings
Timeframes Section:
- Toggle each timeframe on/off
- Customize individual colors
Visual Style Section:
- Dynamic Colors: Auto-color based on price position
- Line Thickness: 1-4 pixels
- Transparency: 0-80%
- Extension Length: How far lines extend right
- Label Style: Plain or enhanced with price
Heatmap Section:
- Enable/disable background coloring
- Adjust transparency
- Choose gradient or solid zones
Status Table Section:
- Position on chart
- Font selection
Advanced Section:
- Enable alerts for new opens
- Price discovery mode
- Extended hours inclusion
]📈 Best Practices
1. Timeframe Selection:
- For intraday: Focus on 1H, 4H, and Daily
- For swing trading: Daily, Weekly, Monthly
- For position trading: Monthly, Quarterly, Yearly
2. Color Coding:
- Enable dynamic colors for instant sentiment reading
- Use heatmap for overall market bias
3. Confluence Zones:
- Pay special attention when multiple opens cluster
- These zones often produce stronger reactions
4. Alignment Signals:
- When all timeframes show same color = strong trend
- Mixed colors = potential consolidation or reversal zone
🎯 Pro Tips
- Volume Confirmation: Combine with volume indicators to confirm reactions at open levels
- Multiple Instruments: Compare opens across correlated assets for divergences
- News Events: Opens often act as magnets after major news releases
- Options Trading: Weekly and monthly opens align with options expiry levels
- Algorithmic Levels: Many algorithms use these opens for entries/exits
🔄 Updates in Version 8.3
- Added 1H and 4H timeframe support
- Enhanced dynamic color system
- Implemented heatmap visualization
- Added real-time status table
- Optimized performance for smoother operation
- Improved label styling options
- Better yearly timeframe detection
⚡ Performance Optimizations
This indicator uses advanced Pine Script v6 features for optimal performance:
- Efficient object reuse instead of recreation
- Smart calculation loops
- Minimal repainting
- Optimized for real-time updates
📝 Notes
- Works on all markets (stocks, forex, crypto, futures)
- Best on timeframes lower than the opens you're tracking
- Lines automatically hide when their timeframe is lower than chart timeframe
- Past opens are not displayed (indicator shows current opens only)
🙏 Credits & Support
Created by HAZED | Version 8.3
Optimized for TradingView Pine Script v6
For questions, suggestions, or bug reports, please comment below.
If you find this indicator useful, please consider leaving a like and a follow!
Remember: No indicator is perfect. Always use proper risk management and combine multiple confirmation signals in your trading decisions.
VWAP Momentum Oscillator How It Works
Core Calculation Method
The oscillator combines four key market measurements into a single, normalized reading:
1. Price-VWAP Deviation: `(Close - VWAP) / VWAP × 100`
2. VWAP-MA Momentum: `(VWAP - MovingAverage) / MovingAverage × 100`
3. Anchored VWAP Strength: Average of high/low anchor deviations from rolling VWAP
4. Range Position: `(Close - PeriodLow) / (PeriodHigh - PeriodLow) × 100 - 50`
Dynamic Signal Line
The signal line uses an EMA that automatically adjusts its length based on your chart timeframe:
- Futures: Always covers 23 hours of trading (1,380 minutes)
- Stocks: Always covers 6.5 hours of trading (390 minutes)
- Examples: 276 periods on 5-min futures chart, 1,380 periods on 1-min futures chart
Trading Signals
🟢 Buy Signals
- Condition: Main oscillator crosses above signal line while below zero
- Logic: Momentum turning bullish from oversold conditions
- Visual: Green "BUY" label below price action
🔴 Sell Signals
- Condition: Main oscillator crosses below signal line while above zero
- Logic: Momentum turning bearish from overbought conditions
- Visual: Red "SELL" label above price action
⚠️ Extreme Warnings
- Extreme Overbought: Red triangle when oscillator crosses above +4.0
- Extreme Oversold: Green triangle when oscillator crosses below -4.0
- Purpose: Risk management alerts, not entry/exit signals
Oscillator Zones
Interpretation Guide
- Above +2.0: Strong bullish momentum zone (green background)
- 0 to +2.0: Mild bullish territory
- 0 to -2.0: Mild bearish territory
- Below -2.0: Strong bearish momentum zone (red background)
- Above +4.0: Extreme overbought (caution advised)
- Below -4.0: Extreme oversold (potential reversal zone)
Customization Options
Moving Average Settings
- EMA/SMA Toggle: Choose between exponential or simple moving average
- Color Customization: Adjust MA line color and width
Visual Controls
- Bullish/Bearish Colors: Customize momentum zone colors
- Signal Line: Toggle visibility and adjust color
- Line Widths: Control thickness of all plot lines
Anchor Modes
- NY Session Only: Anchors reset at NY market open (9:30 AM ET)
- 24H NY Day: Anchors reset at NY calendar day change (midnight ET)
Best Practices
Timeframe Selection
- Scalping: 1-5 minute charts for quick momentum changes
- Day Trading: 5-15 minute charts for clearer trend signals
- Swing Trading: 1-4 hour charts for major momentum shifts
Signal Confirmation
- Wait for crossovers: Don't trade on oscillator position alone
- Respect extreme levels: Exercise caution above +4 or below -4
- Use with price action: Combine with support/resistance levels
Risk Management
- Extreme zones: Reduce position size when oscillator is extended
- Failed signals: Exit quickly if momentum doesn't follow through
- Market context: Consider overall trend direction and market volatility
Technical Specifications
Calculation Components
- Base Length: 1,380 periods (futures) / 390 periods (stocks)
- Signal Line: Dynamic EMA covering one full trading day
- Smoothing: 3-period SMA on raw oscillator (adjustable)
- Update Frequency: Real-time on every price tick
Performance Notes
- Resource Efficient: Optimized calculations minimize CPU usage
- Memory Friendly: Uses incremental VWAP calculations
- Fast Loading: Minimal historical data requirements
Version History & Development
This oscillator evolved from advanced VWAP overlay strategies, transforming complex multi-line analysis into a single, actionable momentum gauge. The indicator maintains the sophistication of institutional VWAP analysis while providing the clarity needed for retail trading decisions.
Core Philosophy
Traditional VWAP indicators show where price is relative to volume-weighted averages, but they don't quantify momentum or provide clear entry/exit signals. This oscillator solves that problem by normalizing all VWAP relationships into a single, bounded indicator that works consistently across all timeframes and asset classes.
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Open Source License: This indicator is provided free for the TradingView community. Feel free to modify and enhance according to your trading needs.
BOCS AdaptiveBOCS Adaptive Strategy - Automated Volatility Breakout System
WHAT THIS STRATEGY DOES:
This is an automated trading strategy that detects consolidation patterns through volatility analysis and executes trades when price breaks out of these channels. Take-profit and stop-loss levels are calculated dynamically using Average True Range (ATR) to adapt to current market volatility. The strategy closes positions partially at the first profit target and exits the remainder at the second target or stop loss.
TECHNICAL METHODOLOGY:
Price Normalization Process:
The strategy begins by normalizing price to create a consistent measurement scale. It calculates the highest high and lowest low over a user-defined lookback period (default 100 bars). The current close price is then normalized using the formula: (close - lowest_low) / (highest_high - lowest_low). This produces values between 0 and 1, allowing volatility analysis to work consistently across different instruments and price levels.
Volatility Detection:
A 14-period standard deviation is applied to the normalized price series. Standard deviation measures how much prices deviate from their average - higher values indicate volatility expansion, lower values indicate consolidation. The strategy uses ta.highestbars() and ta.lowestbars() functions to track when volatility reaches peaks and troughs over the detection length period (default 14 bars).
Channel Formation Logic:
When volatility crosses from a high level to a low level, this signals the beginning of a consolidation phase. The strategy records this moment using ta.crossover(upper, lower) and begins tracking the highest and lowest prices during the consolidation. These become the channel boundaries. The duration between the crossover and current bar must exceed 10 bars minimum to avoid false channels from brief volatility spikes. Channels are drawn using box objects with the recorded high/low boundaries.
Breakout Signal Generation:
Two detection modes are available:
Strong Closes Mode (default): Breakout occurs when the candle body midpoint math.avg(close, open) exceeds the channel boundary. This filters out wick-only breaks.
Any Touch Mode: Breakout occurs when the close price exceeds the boundary.
When price closes above the upper channel boundary, a bullish breakout signal generates. When price closes below the lower boundary, a bearish breakout signal generates. The channel is then removed from the chart.
ATR-Based Risk Management:
The strategy uses request.security() to fetch ATR values from a specified timeframe, which can differ from the chart timeframe. For example, on a 5-minute chart, you can use 1-minute ATR for more responsive calculations. The ATR is calculated using ta.atr(length) with a user-defined period (default 14).
Exit levels are calculated at the moment of breakout:
Long Entry Price = Upper channel boundary
Long TP1 = Entry + (ATR × TP1 Multiplier)
Long TP2 = Entry + (ATR × TP2 Multiplier)
Long SL = Entry - (ATR × SL Multiplier)
For short trades, the calculation inverts:
Short Entry Price = Lower channel boundary
Short TP1 = Entry - (ATR × TP1 Multiplier)
Short TP2 = Entry - (ATR × TP2 Multiplier)
Short SL = Entry + (ATR × SL Multiplier)
Trade Execution Logic:
When a breakout occurs, the strategy checks if trading hours filter is satisfied (if enabled) and if position size equals zero (no existing position). If volume confirmation is enabled, it also verifies that current volume exceeds 1.2 times the 20-period simple moving average.
If all conditions are met:
strategy.entry() opens a position using the user-defined number of contracts
strategy.exit() immediately places a stop loss order
The code monitors price against TP1 and TP2 levels on each bar
When price reaches TP1, strategy.close() closes the specified number of contracts (e.g., if you enter with 3 contracts and set TP1 close to 1, it closes 1 contract). When price reaches TP2, it closes all remaining contracts. If stop loss is hit first, the entire position exits via the strategy.exit() order.
Volume Analysis System:
The strategy uses ta.requestUpAndDownVolume(timeframe) to fetch up volume, down volume, and volume delta from a specified timeframe. Three display modes are available:
Volume Mode: Shows total volume as bars scaled relative to the 20-period average
Comparison Mode: Shows up volume and down volume as separate bars above/below the channel midline
Delta Mode: Shows net volume delta (up volume - down volume) as bars, positive values above midline, negative below
The volume confirmation logic compares breakout bar volume to the 20-period SMA. If volume ÷ average > 1.2, the breakout is classified as "confirmed." When volume confirmation is enabled in settings, only confirmed breakouts generate trades.
INPUT PARAMETERS:
Strategy Settings:
Number of Contracts: Fixed quantity to trade per signal (1-1000)
Require Volume Confirmation: Toggle to only trade signals with volume >120% of average
TP1 Close Contracts: Exact number of contracts to close at first target (1-1000)
Use Trading Hours Filter: Toggle to restrict trading to specified session
Trading Hours: Session input in HHMM-HHMM format (e.g., "0930-1600")
Main Settings:
Normalization Length: Lookback bars for high/low calculation (1-500, default 100)
Box Detection Length: Period for volatility peak/trough detection (1-100, default 14)
Strong Closes Only: Toggle between body midpoint vs close price for breakout detection
Nested Channels: Allow multiple overlapping channels vs single channel at a time
ATR TP/SL Settings:
ATR Timeframe: Source timeframe for ATR calculation (1, 5, 15, 60, etc.)
ATR Length: Smoothing period for ATR (1-100, default 14)
Take Profit 1 Multiplier: Distance from entry as multiple of ATR (0.1-10.0, default 2.0)
Take Profit 2 Multiplier: Distance from entry as multiple of ATR (0.1-10.0, default 3.0)
Stop Loss Multiplier: Distance from entry as multiple of ATR (0.1-10.0, default 1.0)
Enable Take Profit 2: Toggle second profit target on/off
VISUAL INDICATORS:
Channel boxes with semi-transparent fill showing consolidation zones
Green/red colored zones at channel boundaries indicating breakout areas
Volume bars displayed within channels using selected mode
TP/SL lines with labels showing both price level and distance in points
Entry signals marked with up/down triangles at breakout price
Strategy status table showing position, contracts, P&L, ATR values, and volume confirmation status
HOW TO USE:
For 2-Minute Scalping:
Set ATR Timeframe to "1" (1-minute), ATR Length to 12, TP1 Multiplier to 2.0, TP2 Multiplier to 3.0, SL Multiplier to 1.5. Enable volume confirmation and strong closes only. Use trading hours filter to avoid low-volume periods.
For 5-15 Minute Day Trading:
Set ATR Timeframe to match chart or use 5-minute, ATR Length to 14, TP1 Multiplier to 2.0, TP2 Multiplier to 3.5, SL Multiplier to 1.2. Volume confirmation recommended but optional.
For Hourly+ Swing Trading:
Set ATR Timeframe to 15-30 minute, ATR Length to 14-21, TP1 Multiplier to 2.5, TP2 Multiplier to 4.0, SL Multiplier to 1.5. Volume confirmation optional, nested channels can be enabled for multiple setups.
BACKTEST CONSIDERATIONS:
Strategy performs best during trending or volatility expansion phases
Consolidation-heavy or choppy markets produce more false signals
Shorter timeframes require wider stop loss multipliers due to noise
Commission and slippage significantly impact performance on sub-5-minute charts
Volume confirmation generally improves win rate but reduces trade frequency
ATR multipliers should be optimized for specific instrument characteristics
COMPATIBLE MARKETS:
Works on any instrument with price and volume data including forex pairs, stock indices, individual stocks, cryptocurrency, commodities, and futures contracts. Requires TradingView data feed that includes volume for volume confirmation features to function.
KNOWN LIMITATIONS:
Stop losses execute via strategy.exit() and may not fill at exact levels during gaps or extreme volatility
request.security() on lower timeframes requires higher-tier TradingView subscription
False breakouts inherent to breakout strategies cannot be completely eliminated
Performance varies significantly based on market regime (trending vs ranging)
Partial closing logic requires sufficient position size relative to TP1 close contracts setting
RISK DISCLOSURE:
Trading involves substantial risk of loss. Past performance of this or any strategy does not guarantee future results. This strategy is provided for educational purposes and automated backtesting. Thoroughly test on historical data and paper trade before risking real capital. Market conditions change and strategies that worked historically may fail in the future. Use appropriate position sizing and never risk more than you can afford to lose. Consider consulting a licensed financial advisor before making trading decisions.
ACKNOWLEDGMENT & CREDITS:
This strategy is built upon the channel detection methodology created by AlgoAlpha in the "Smart Money Breakout Channels" indicator. Full credit and appreciation to AlgoAlpha for pioneering the normalized volatility approach to identifying consolidation patterns and sharing this innovative technique with the TradingView community. The enhancements added to the original concept include automated trade execution, multi-timeframe ATR-based risk management, partial position closing by contract count, volume confirmation filtering, and real-time position monitoring.
AVGO Advanced Day Trading Strategy📈 Overview
The AVGO Advanced Day Trading Strategy is a comprehensive, multi-timeframe trading system designed for active day traders seeking consistent performance with robust risk management. Originally optimized for AVGO (Broadcom), this strategy adapts well to other liquid stocks and can be customized for various trading styles.
🎯 Key Features
Multiple Entry Methods
EMA Crossover: Classic trend-following signals using fast (9) and medium (16) EMAs
MACD + RSI Confluence: Momentum-based entries combining MACD crossovers with RSI positioning
Price Momentum: Consecutive price action patterns with EMA and RSI confirmation
Hybrid System: Advanced multi-trigger approach combining all methodologies
Advanced Technical Arsenal
When enabled, the strategy analyzes 8+ additional indicators for confluence:
Volume Price Trend (VPT): Measures volume-weighted price momentum
On-Balance Volume (OBV): Tracks cumulative volume flow
Accumulation/Distribution Line: Identifies institutional money flow
Williams %R: Momentum oscillator for entry timing
Rate of Change Suite: Multi-timeframe momentum analysis (5, 14, 18 periods)
Commodity Channel Index (CCI): Cyclical turning points
Average Directional Index (ADX): Trend strength measurement
Parabolic SAR: Dynamic support/resistance levels
🛡️ Risk Management System
Position Sizing
Risk-based position sizing (default 1% per trade)
Maximum position limits (default 25% of equity)
Daily loss limits with automatic position closure
Multiple Profit Targets
Target 1: 1.5% gain (50% position exit)
Target 2: 2.5% gain (30% position exit)
Target 3: 3.6% gain (20% position exit)
Configurable exit percentages and target levels
Stop Loss Protection
ATR-based or percentage-based stop losses
Optional trailing stops
Dynamic stop adjustment based on market volatility
📊 Technical Specifications
Primary Indicators
EMAs: 9 (Fast), 16 (Medium), 50 (Long)
VWAP: Volume-weighted average price filter
RSI: 6-period momentum oscillator
MACD: 8/13/5 configuration for faster signals
Volume Confirmation
Volume filter requiring 1.6x average volume
19-period volume moving average baseline
Optional volume confirmation bypass
Market Structure Analysis
Bollinger Bands (20-period, 2.0 multiplier)
Squeeze detection for breakout opportunities
Fractal and pivot point analysis
⏰ Trading Hours & Filters
Time Management
Configurable trading hours (default: 9:30 AM - 3:30 PM EST)
Weekend and holiday filtering
Session-based trade management
Market Condition Filters
Trend alignment requirements
VWAP positioning filters
Volatility-based entry conditions
📱 Visual Features
Information Dashboard
Real-time display of:
Current entry method and signals
Bullish/bearish signal counts
RSI and MACD status
Trend direction and strength
Position status and P&L
Volume and time filter status
Chart Visualization
EMA plots with customizable colors
Entry signal markers
Target and stop level lines
Background color coding for trends
Optional Bollinger Bands and SAR display
🔔 Alert System
Entry Alerts
Customizable alerts for long and short entries
Method-specific alert messages
Signal confluence notifications
Advanced Alerts
Strong confluence threshold alerts
Custom alert messages with signal counts
Risk management alerts
⚙️ Customization Options
Strategy Parameters
Enable/disable long or short trades
Adjustable risk parameters
Multiple entry method selection
Advanced indicator on/off toggle
Visual Customization
Color schemes for all indicators
Dashboard position and size options
Show/hide various chart elements
Background color preferences
📋 Default Settings
Initial Capital: $100,000
Commission: 0.1%
Default Position Size: 10% of equity
Risk Per Trade: 1.0%
RSI Length: 6 periods
MACD: 8/13/5 configuration
Stop Loss: 1.1% or ATR-based
🎯 Best Use Cases
Day Trading: Designed for intraday opportunities
Swing Trading: Adaptable for longer-term positions
Momentum Trading: Excellent for trending markets
Risk-Conscious Trading: Built-in risk management protocols
⚠️ Important Notes
Paper Trading Recommended: Test thoroughly before live trading
Market Conditions: Performance varies with market volatility
Customization: Adjust parameters based on your risk tolerance
Educational Purpose: Use as a learning tool and customize for your needs
🏆 Performance Features
Detailed performance metrics
Trade-by-trade analysis capability
Customizable risk/reward ratios
Comprehensive backtesting support
This strategy is for educational purposes. Past performance does not guarantee future results. Always practice proper risk management and consider your financial situation before trading.
Fiery River### Description of the "Fiery River" (FR) Indicator
**Overview of the Indicator**
"Fiery River" (abbreviated as FR) is a technical indicator for TradingView, written in Pine Script version 6. It's designed for traders who incorporate Fibonacci levels with moving averages to analyze support and resistance zones. The indicator dynamically plots levels based on a selected moving average (MA) and Fibonacci multipliers, displaying them on the current timeframe and an additional secondary timeframe. This helps visualize potential reversal or continuation points, making analysis more comprehensive. The name "Fiery River" evokes a "fiery" flow of levels that "stream" across the chart, adapting to price movements. 🔥
**Key Features**
- **Level Construction**: The indicator calculates a moving average (EMA, SMA, WMA, RMA, or HMA) from the closing price and multiplies it by specified Fibonacci coefficients (0.618, 0.5, 0.382, 0.27, 0.18 for "long" levels and 1.618, 1.5, 1.382 for "short" levels). This creates 10 lines: 5 for the current timeframe (fully visible) and 5 for the secondary timeframe (with semi-transparency for distinction).
- **Color Scheme**: Levels are colored in gray, red, orange, and green, with additional "short" variants for extensions.
- **Fills**: Green fills are added between level pairs to highlight areas of interest, making the chart more visually intuitive.
- **Alerts**: Automatic notifications when the price touches levels (e.g., "Price touches Red line"), helping you stay on top of key moments.
- **Multi-Timeframe Support**: Incorporates a secondary timeframe (e.g., daily if the main is hourly) for comparing levels across different scales.
**How to Use**
1. Add the indicator to your chart in TradingView.
2. Customize settings in the panel: Select MA type, period (default 89), secondary timeframe, and Fibonacci coefficients.
3. Analyze levels as potential entry/exit points: Gray and red for stronger zones, green for weaker ones. Use fills to identify ranges.
4. Enable alerts for real-time signals.
It's ideal for strategies based on Fibonacci and trends, but always combine with other tools for confirmation. 📈
**Advantages and Limitations**
- **Pros**: Highly customizable, visually clear, supports multiple MA types and timeframes. Great for scalping and swing trading.
- **Cons**: Can create a lot of lines on the chart, potentially overwhelming if not managed. May require testing for optimal settings on volatile assets.
If you need any adjustments, more details, or help with the code, just let me know! 😊
