Hi This is a small script that tries to assess the probability that a limit order sent at x % from the last close will be filled in the next y bars. It is based on historical data and can be useful to decide where to place your limit orders and to determine how far from the price you can put the limit order to get an X% chance of getting filled. It displays this...
This indicator, called the "Wick Momentum Indicator" (WMI), helps to gauge price momentum by comparing the total length of upper and lower wicks of a certain number of candlesticks. The indicator turns green when there is a bullish momentum (total length of lower wicks is greater than that of upper wicks) and turns red when there is a bearish momentum (total...
This indicator locates and places markers on known bullish and bearish candles. All candles can be turned on/off in the settings. It also has a setting to display RSI/MFI/Stoch RSI indications of oversold and overbought areas in the background showing areas of higher interest. The last feature is a setting that allows you to see where Heiken-Ashi has switched...
╭━━━╮╱╱╱╱╱╱╭╮╱╭╮ ┃╭━━╯╱╱╱╱╱╱┃┃╱┃┃ ┃╰━━┳━━┳╮╭┳┫┃╭┫╰━┳━┳┳╮╭┳╮╭╮ ┃╭━━┫╭╮┃┃┃┣┫┃┣┫╭╮┃╭╋┫┃┃┃╰╯┃ ┃╰━━┫╰╯┃╰╯┃┃╰┫┃╰╯┃┃┃┃╰╯┃┃┃┃ ╰━━━┻━╮┣━━┻┻━┻┻━━┻╯╰┻━━┻┻┻╯ ╱╱╱╱╱╱┃┃ ╱╱╱╱╱╱╰╯ Overview Equilibrium is a tool designed to measure the buying & selling pressure in the market. It is depicted as a “pressure gauge” that automatically adjusts as new candles are formed, providing...
RedK EVEREX is an experimental indicator that explores "Volume Price Analysis" basic concepts and Wyckoff law "Effort versus Result" - by inspecting the relative volume (effort) and the associated (relative) price action (result) for each bar - showing the analysis as an easy to read "stacked bands" visual. From that analysis, we calculate a "Relative Rate of...
This is a sample PineSript code implementation using Correlation Coefficient. It uses the ta.correlation library of Pinescript and calculates the correlation based on user input length. The results are then plotted on a table. The corr value displays the actual correlation coefficient value while the Corr Status displays the interpretation of the correlation...
This is an intraday indicator Set timeframe to 5 min Take long entry on the high brakes of selling traps Take short entry on the low brakes of buying traps ignore traps left to red zones Use the nearest trap take profit/loss on a 1:2 risk-to-reward basis. Trap Trading Trap trading is a trading strategy that seeks to profit from false...
DojiCandle body size RSI-SMMA filter MTF Hi. I was inspired by a public script written by @ahmedirshad419, . I thank him for his idea and hard work. His script is the combination of RSI and Engulfing Pattern. //------------------------------------------------------------ I decided to tweak it a bit with Open IA. I have changed: 1) candle pattern to...
The Reverse Relative Strength Index was created by Giorgos Siligardos (Stocks & Commodities V. 21:6 (18-30)). It is a handy indicator that reverse engineers the RSI price calculation to show what the price would have to be for the RSI value to match our chosen input. You can select your chosen RSI level using the RSI Level input for this indicator. For example if...
When using Range charts on TradingView, the only candle appearance option is "Range Bars", which are those little thin ones that can be hard to see. So I made this candle indicator that can be used to plot Regular Candles over the Range Bars for a standard view. Here is the same chart - only showing the original Range Bars
Paints inefficient candles ( where candles on both sides of a candle don't meet in the middle. ) Average True Range period and multiplier from 0.01 to 1 can be used to filter out small gaps. Price is likely to return to these areas and they are possible support / resistance levels. Combine with volume profile to detect low volume areas.
The Bollinger Bands are among the most famous and widely used indicators. A Bollinger Band is a technical analysis tool defined by a set of trendlines plotted two standard deviations (positively and negatively) away from a simple moving average ( SMA ) of a security's price, but which can be adjusted to user preferences. They can suggest when an asset is oversold...
This is a combination of two previous indicators; ALMA stdev band with fibs and Vector MACD. Bollinger Band Mod fits the standard deviation on both sides of the center moving average ( ALMA +/- stdev / 2 ) and calculates Fibonacci ratios from stdev on both sides. It is more averaging and more responsive at the same time compared to Bollinger Band. Forecast is...
This indicator simply changes the background and color of candle based on the previous candle's close. If a candle closes high than the previous candle's high it will be indicated via green coloring. If a candle closes lower than the previous candle's low it will be indicated in red coloring. Additionally, grey colored candles appear when neither occur - often...
The Leavitt Convolution Slope indicator was created by Jay Leavitt (Stocks and Commodities Oct 2019, page 11), who is most well-known for creating the Volume-Weighted Average Price indicator. This indicator didn't have a good explanation or description so I custom-coded most of it. The way it works is it will give trend spikes in the direction of the underlying...
I decided to combine Fractal ROC , ATR Break, and Order Blocks to an Indicator The Fractal ROC , ATR Break, and Order Blocks indicator combines three concepts to help traders identify potential trade opportunities and manage risk. By using a combination of Fractal ROC , ATR Break, and Order Blocks, traders can gain a deeper understanding of market dynamics and...
This indicator is meant for education and experimental purposes only. Many Market Structure Script out there isn't open-sourced and some could be complicated to understand to modify the code. Hence, I published this code to make life easier for beginner programmer like me to modify the code to fit their custom indicator. As I am not a expert or pro in coding...
Pin candles are a variation of hammer candles that are useful in technical analysis . In particular, when combined with volume profile studies, they can be a powerful set up for long entries or other decision making. For example, when looking at volume profiles, a long entry would be a fair value area (i.e. 40%) below the close of a pin candle. When combined with...