Gorb Algo

12 Nov 2023

Introduction:
Gorb Algo is an all-in-one trading indicator made up of classic technical analysis components such as moving averages, relative strength index, stochastic oscillator, and pivot points blended together to create a synergistic algorithm. Focused on providing useful signals & trading tool overlays to meet all trader's technical analysis needs. Each feature included can be changed to meet each traders strategy or market condition.

Overview:

• The Gorb Market Trend isn't a simple trend-following tool; it's a sophisticated blend of traditional and innovative methods, providing comprehensive market analysis.
  
• Its unique combination of EMA analysis, volume weighting, RSI, and stochastic indicators, along with proprietary algorithms, providing nuanced views in trend detection and trading confluences.
  
• The indicator is designed for traders at all levels, offering a balance of depth for experienced traders and simplicity for beginners.
  

Centerpieces: Gorb Market Trend & Volume Strength
These use a color-coded system to indicate market direction/strength. The color: white is used to signal upward/bullish trend, while the color: purple is used to signal downward/bearish trend. It is designed for ease of use, simplifying complex market data into an easy visually understandable format.

How the Gorb Market Trend Works:

• Moving averages are used to find convergence or divergence on multiple EMA's to help determine the overall market direction. Relative Strength Index is used to assess the speed and change of price movements to add another layer to the Market Trend lines identification of the markets analysis. It then plots a line using just two colors to provide traders with a visual representation of the trend. This can help traders quickly grasp the current market trend with simple color cues.
  

How the Volume Strength Works:

• A stochastic oscillator is used to measure the current price level relative to its price over a specific range period to capture sentiment and potential reversals for the Trend Strength feature. And the final part is the use of VWAP and volume analysis to ensure that identified trends are not only based on price movements but are also supported by trading volume, adding a layer of reliability to the trend signals. These are then plotted at the bottom of the chart following the same color scheme as Gorb Market Trend. Only difference is, when volume strength begins to decline, the color will be more transparent, and when it is strong, the color will be bright.
  

Custom Algorithmic Elements:

• The Gorb Market Trend isn't just a combination of standard indicators. It includes proprietary algorithmic elements tailored to enhance signal accuracy and timing. These unique components are what set the Gorb Market Trend apart from conventional trend-detection methods.
  

We recommend exploring every feature to pick & choose what best suits your needs and style of trading, and use that to combine with the Market trend line.

Features:

• All skill-level friendly presets, easy to enable features with one-click
  
• Trading Signals: Plotted signals to help traders identify changes in trend on the Gorb Market Trend Line (not to be followed blindly)
  
• Match Volume Color: allows the user to enable signals to appear only if they match the trend strength's color
  
• Enable MA Filter: allows the user to use 2 EMA's to create a custom trend filter in order to limit contrarian signals with the current trend
  
• Chop Filter: allows the user to have a specific candle range of their choice to limit signals during sideways price movement
  
• 4 EMA's: allows the user to plot up to 4 EMA's on the chart and change to the users specific trading strategy with the Market Trend line
  
• VWAP: allows users to plot VWAP on their chart to visually see where price is relatively
  
• EMA Clouds: allows users to fill the gap between EMA's plotted on the chart to help them visualize zones for entries or stop-losses
  
• Pivot Points: allows users to have pivots on their chart to use in tandem with market trend line to find areas of support and resistance to help find confluence in their trading
  
• All colors are changeable for the user to customize the scheme to their liking or style
  

Basic Signals, Market Trend & Volume Strength Demonstration

In the image below, we can see a basic example of how these 3 core features function.



As explained above, the trade ideas are only generated if the user enables them. They will plot as small triangles in real time and are directly correlated to the market trend line coloring in order to quickly see the change in market conditions.

The volume strength on the bottom helps identify the strength and momentum of the market condition. This can also be used to identify possible fake-outs or small pullbacks before price continues on. The brighter the volume strength the stronger it is, when it is dimmer, that means volume is decreasing in that direction. This can help traders identify signals they may not want to trust as much.

Trading Tool Overlays with Signals

In the image below, we have enabled the EMA's and VWAP overlays from the settings. By using these tools, users can add more confluence to create their trading strategies



The EMA's are not only used for the market trends, trend filter. But also used as an additional confluence for general trend following purposes alongside the trade idea signals. These can be extremely useful for traders who like to have different length moving averages depending on their timeframe for analyzing the market.

In this next image, we can see that price dips down and then bounces up. With EMA clouds enabled, the user can now have visual zones to look for trade entries in.



When paired with the market trend line and trade idea signals, this adds a whole other level of easy visual trading confluence for traders. You can see that market trend changes color and a trade signal is plotted when price enters these zones. This can be helpful to a trader looking to find confluence in their entries.

The image below shows specific pivot levels being plotted when the user enabled pivots in the settings of the indicator.



The pivot levels proved an excellent area of support/resistance for traders that are generated fresh every day. These are particularly useful for areas that line up with previous tools above and trade signals. This overlay gives traders a clear level that can be used to confirm entries and create targets to exit trades at. These levels when combined with the other tools in this indicator provide traders an all-in-one visual confluences. Some traders may just use this overlay to have an idea on the range for the trading session.

Filters:
There are 3 different trade signal filters integrated into this indicator
1. Match Volume Color: When enabled, signals can only be valid and plotted if the volume strength color matches the market trend line signal. Otherwise the signal will not appear, this limits possible fake-outs without having volume agree.

2. MA Filter: When enabled, this removes an contrarian signals to the current market trend per the settings of the filter. The EMA settings for this filter can be changed by the user for them to customize this to their trading strategies. There are two settings, short ema and long ema to define the trend.

3. Chop Filter: When enabled, this disables signals that would normally appear in sideways price action. This setting is also customizable by the user; there are two settings: candle period and threshold. The candle period is how many candles back does this filter want to look to define its range. The threshold, is the amount of price deviation is allowed from this range in order to disable a signal.

Conclusion:
We believe in providing an all inclusive trading tool to help simplify trading for all traders. The goal is to provide a user-friendly, efficient tool that provides insights into market trends. For it to stand out for its simplicity and effectiveness, as a support tool for decision making.

How to get access:
You can see the Author's instructions to get access to this indicator

RISK DISCLAIMER
All content, tools, scripts & education provided by Monstanzer or Gorb Algo LLC are for informational & educational purposes only. Trading is risk and most lose their money, past performance does not guarantee future results.

16 Nov 2023

Nota Keluaran

Small enhancement to increase user customizability:

• Added version version number in the short-title
  
• Added tooltips for the user inputs, for easier to understand settings options
  
• Added Market Trend Config input: user has two modes to change algo parameters to fit different trading strategies
  
• Added TradingView alerts section, users can now set alerts for trade ideas or color changes on the Market Trend Line to help traders who aren't able to watch a chart
  

22 Nov 2023

Nota Keluaran

Version 1.7 Updates:

• Removed stability chop filter
  
• Added two more Market Trend Config inputs for the user
  
• Modified Market Trend Config inputs, now labeled 1-4 for user to choose different algo speeds
  
• Added an algo validation, adds a second layer of trade idea validation. Trade ideas now only plot if both Market Trend and Algo Validation are in sync. Validation line is not plotted or visible to the user
  

25 Nov 2023

Nota Keluaran

Minor UI Enhancement:

• Added "inline" to condense indicator settings and improve UI
  

4 Dis 2023

Nota Keluaran

**1)** Updated Trend Config options
**2)** Added *Algo Speed*, allows user to choose between 3 options for Trade Idea signals by adjusting algo validation parameters to suit their trading style
**3)** Minor UI change for config settings

9 Dis 2023

Nota Keluaran

Update to Version 1.9

• Added consolidation candle coloring; when enabled, the user can choose what color candles that are identified as sideways price action or low trending candles are colored as for visual identification.
  
• Refined Algo line calculations
  
• Refined Validation line calculations
  

6 Jan

Nota Keluaran

Update to version 2.0

• Removed redundant coding notes
  
• Removed Match Volume and EMA Trend Filter.
  
• Modified Consolidation Candle Color.
  
• Modified Gorb Market Trend calculations and added third color to this function.
  
• Gray Market Trend appears when price is closing near the line, visualizing chop or a slow in price action. This has already been implemented into Gorb Wall as well.
  
• Added Moving Average with same concepts as Gorb Market Trend, this is completely customizable to the length, type of moving average, as well as its sensitivity to price closing in its proximity, and colors are all changeable to meet the users needs.
  

16 Jan

Nota Keluaran

TradingView Alerts Glitch has been corrected in this minor update

21 Jan

Nota Keluaran

Update to version 2.1

• Added Volume Spikes, these are identified by yellow circles under a candle when it has increased volume relative to previous range.
  
• Added Gorb Flow Metrics dashboard which displays market flow, buying pressure, and selling pressure.
  
• Market Flow has 3 displays: bullish, bearish and neutral, users can also choose between a faster or slow reacting flow speed to suit their needs.
  
• Market Flows configuration is set to be able to read price action, volume, and momentum in order to calculate if the market is bullish, bearish, or neutral.
  
• Buying/Selling pressure is a running calculation of buys vs sells in the market on the given ticker. It then displays them as a percentage of its total volume on the timeframe chosen. Once there is a 4% difference in pressure, buying will turn green if it has 4% greater pressure and selling will turn red if it has 4% greater pressure. Otherwise when the difference is less than 4% the background will remain a neutral color.
  
• Relocated the *Consolidation Candles* setting to the flow group settings
  

4 Feb

Nota Keluaran

Update to version 2.2

• Modified Gorb Flow Metrics Buy/Sell Pressure Highlight Strength to a 10% differential
  
• Organized settings and relabeled some for a cleaner UI
  
• Modified old pivots to Support & Resistance
  
• Added automatic chart timeframe detection to modify calculation of support & resistance levels according to users current timeframe
  
• Added price detection coloring for levels, red for resistance and green for support. Levels will automatically change in real-time according current price relativity
  
• Added additional extremes levels for trend or gap days using modified pivot calculations
  

23 Feb

Nota Keluaran

Update to version 2.3

• Added prior day high/low levels, modifying our ORB indicator we have taken the PDH/PDL calculations and modified the way the appear and plot. When enabled by the user, these will plot a line across the whole trading session at the open to identify the previous days highs/lows on the chart. It will apply a label for each line that will move across the plotted line as each bar appears. This is to help the use identify the line without having to zoom out or change views. The lines are color and style(solid, dash, dotted) customizable to the users preference.
  
• Added opening range zone, using a modified version of our free open source ORB indicator. We have added a colored zone that plots across the entire session at the open and will use the high/low for the boundaries set by the user to be tailor made to any users trading strategy. This is also color customizable to the user as well.
  
• Modified our automated support & resistance levels calculations, as well as combining it into one simple toggle button for users to enable.
  
• Modified the support & resistance plotting calculations, they will now plot as soon as new trading session starts and automatically extend across the chart and end at the end of the trading session. This allows users to visually see the levels throughout the trading session.
  
• Modified the support & resistance color system, the levels will plot as a faint gray so users can identify the levels without affecting visuals on screen. As price action develops, the line will change color to green for support if price is above, and red for resistance if price is below. Levels in the future that aren't in the current bars time will stay faint gray till price reaches it.
  
• Modified Gorb Flow Metrics Dashboard, added bold text and modified the old "bullish/bearish/neutral" to use simple symbols in place now, as well as modifying the color scheme.
  
• Restructured some code for clarity, organization, correcting some input errors and modified settings UI for organization.
  

19 Mac

Nota Keluaran

Update to Version 2.4

• Added 4 additional Support & Resistance extreme levels for gap up/down days on intraday timeframes
  
• Added price labels to each Support & Resistance level that can be moved to the right or left side of the lines
  
• Added dynamic price action tracker for Support & Resistance levels, only the user specified amount of visible levels will appear. By default "Visible" is set to 2, this means the closest 2 levels above and below current price action will appear on the chart for a total of 4 total levels. Once price surpasses a level up or down, a level will vanish and a new one appear in that direction automatically.
  
• Added another higher timeframe Support & Resistance support, on the daily timeframe and above the levels will plot for 3 month period using higher timeframe data.
  
• Modified Support & Resistance coloring to make it easier for user's chart styling
  
• Added "SMA" option to the 4 built in moving averages for users to have another level of customization between "EMA or SMA" for their moving averages in their trading strategy.
  
• Modified UI organization to match new changes
  

13 Apr

Nota Keluaran

Update to Version 2.5

• Added Show Chop, this will add an additional row to the Flow Dashboard. If choppy price action is identified, the dash will show a visual cue in the form of ⛔, and if there is no identified choppy price action, the dash will display a ✅. This is to help traders by providing clear and visual cues to identify possible areas price action that could be choppy.
  
• Added EMA Trend, this will add an additional row to the Flow Dashboard. There are four squares in the table to visualize the 7,14,21, and 33 exponential moving averages(EMA) in order. When price is above the EMA that coincides with each box they will be displayed as ⬜, indicating a bullish trend. If price is below that EMA, then the box will be displayed as 🟪, indicating a bearish trend. And finally if price is ranging near the EMA, then the box will be displayed as ⬛, indicating price is ranging near the EMA and there is no trend indication from that specific EMA length.
  
• AddedRSI Value, this will add an additional row to the Flow Dashboard. This will pull the value of the Relative Strength Indicator(RSI), using a standard 14-period setting. This is a popular indicator used to detect momentum and when a stock is oversold or over bought. This helps provide a to assess the current market strength or weakness visually.
  
• These 3 additions to the Gorb Metrics Flow Dashboard help provide further quick visual references and key metrics to help traders make informed decisions based on technical analysis tools.
  
• Modified the Moving Average plots, so that users can go under the "style" settings tab to change the line color, line width, and line style. This is so traders can add customization to meet their trading style and strategies.
  

30 Jun

Nota Keluaran

Update to Version 2.6

• Added Trend LInes, they adapt to market conditions by dynamically adjusting to price movements. There are two main types of trend lines displayed: Bullish Trend Lines, represented in the color set by the "Bullish Trend Color" option. This indicates increasing demand and suggests that buyers are dominating the market. Bearish Trend Lines, represented in the color set by the "Bearish Trend Color" option. This indicates increasing supply and suggests that sellers are dominating the market.
  
• Added Supply & Demand Zones, supply zones represented in the color set by the "Supply Color" option, areas where selling pressure is significant enough to stop the price from rising further and push it downward. Demand zones represented in the color set by the "Demand Color" option, areas where buying pressure is significant enough to stop the price from falling further and push it upward. Users have the option to enable zones that are drawn from the daily and weekly timeframe. Able to display both timeframes on the chart, zones do not overlap and are limited to the chart's time range, meaning daily zones won't appear on a weekly time frame.
  
• Added Previous Week High/Low, lines representing the previous week's high and low levels can be plotted across the entire trading session. This feature is designed to highlight these pivotal levels without the need to zoom out or alter chart views.
  
• Added Table Orientation, this feature allows users to choose how they want the Flow Dashboard to be displayed. Users can select either a horizontal layout or a vertical layout, where the dashboard elements are stacked on top of each other.
  

27 Jul

Nota Keluaran

Update to v2.7

Gorb Bands(GBands):

• Custom Bollinger Bands with 6 different specified deviations, are designed to help identify overbought, oversold, bullish, bearish, and neutral market conditions.
  
• OverBought (OB) is the purple shaded zone, indicates that the price may be overextended and a potential reversal or pullback could be imminent.
  
• OverSold (OS) is the white shaded zone, indicates that price is significantly oversold. It is an indication that the price may be undervalued and a potential reversal or bounce could be imminent.
  
• Neutral is when price is between the median basis deviation, it is an indication that price may be chopping in the middle of the bands.
  
• Bullish is when price is over the median basis deviation but below OB, it is an indication that price may be in a bullish trend.
  
• Bearish is when price is under the median basis deviation but above OS, it is an indication that price may be in a bearish trend.
  
• Live Flow Dash GBands: Categorizes price into 5 categories dependent on it's location in GBands to give traders a quick visual snapshot of the trend sentiment. They are: OverSold (OS), OverBought (OB), Bullish, Bearish, and Neutral.
  

Higher-Timeframe (HTF) Gorb MA:

• Incorporates moving average data from the 1hr timeframe into lower timeframe charts. This provides a broader perspective on market trends, allowing for more accurate identification of major support and resistance levels.
  
• Yellow: Bullish trend, price is above HTF Gorb MA
  
• Purple: Bearish trend, price is below HTF Gorb MA
  
• Black: Neutral, price is chopping at HTF Gorb MA
  

Bias Trading System:

• Generates precise trigger levels for both long and short signals, as well as multiple take profit levels. This system is aimed at providing clear and actionable levels, in conjunction with the proprietary algorithmic elements of Gorb Algo.
  
• Triggers can be adjusted for different market speeds (slow, normal, fast), allowing traders to adapt the system to their preferred trading style.
  
• The system supports multiple timeframe analyses, with intra-day triggers for short-term trading, hourly triggers for medium-term strategies, and daily triggers for long-term setups, each has its own set of triggers and take profit levels.
  
• Users can select between two color schemes: Gorb (White for Long, Purple for Short) or Standard (Green for Long, Red for Short) for personalized trading strategies. Includes clear visual labels and colored zones on the chart for easy identification.
  
• Live Flow Dash Bias incorporation for a quick snapshot of sentiment analysis. Bullish: Price is over long TP1 and above Gorb MA. Bearish: Price is under short TP1 and below Gorb MA. Neutral: Price isn't over/under any TP1, or it is, but not over/under Gorb MA in the same direction.
  
• TradingView Alerts can be set for users to be notified when a long or short trigger level is being activated on the specified timeframe the alert was set on.
  

Small Enhancements

• Trade Ideas have been updated to include it's own invisible trail stop to prevent more long or short ideas from plotting if the last idea is still valid according to it's trail stop.
  
• Volume has been combined into one and displays the difference. Positive is more buyers, negative is more sellers. And still must have more than a 10% difference to be highlighted as bullish or bearish.
  
• Gorb MA has been changed to a simple enable or disable without extra options, creating a easier to use interface.
  

29 Jul

Nota Keluaran

Minor Alert Code Update:

• Added the trading ticker's name to the bias trigger alerts