HTF Ascending TriangleHTF Ascending Triangle aims at detecting ascending triangles using higher time frame data, without repainting nor misalignment issues.
Ascending triangles are defined by an horizontal upper trend line and a rising lower trend line. It is a chart pattern used in technical analysis to predict the continuation of an uptrend.
This indicator can be useful if you, like me, believe that higher time frames can offer a broader perspective and provide clearer signals, smoothing out market noise and showing longer-term trends.
You can change the indicator settings as you see fit to tighten or loosen the detection, and achieve the best results for your use case.
Features
It draws the detected ascending triangle on the chart.
It supports alerting when a detection occurs.
It allows for setting the higher time frame to run the detection on.
It allows for setting the minimum number of consecutive valid higher time frame bars to fit the pattern criteria.
It allows for setting a high factor detection criteria to apply on higher time frame bars high as a proportion of the distance between the reference bar high and open/close.
It allows for turning on an adjustment of the triangle using highest/lowest values within valid higher time frame bars.
Settings
Higher Time Frame dropdown: Selects higher time frame to run the detection on. It must be higher than, and a multiple of, the chart's timeframe.
Valid Bars Minimum field: Sets minimum number of consecutive valid higher time frame bars to fit the pattern criteria.
High Factor checkbox: Turns on/off high factor detection criteria.
High Factor field: Sets high factor to apply on higher time frame bars high as a proportion of the distance between the reference bar high and close/open.
Adjust Triangle checkbox: Turns on/off triangle adjustment using highest/lowest values within valid higher time frame bars.
Detection Algorithm Notes
The detection algorithm recursively selects a higher time frame bar as reference. Then it looks at the consecutive higher time frame bars (as per the requested number of minimum valid bars) as follows:
Low must be higher than previous bar.
Open/close max value must be lower than reference bar high.
When high factor criteria is turned on, high must be higher than reference bar open/close max value plus high factor proportion of the distance between reference bar high and open/close max value.
Corak Carta
Flags With Measured Move [QuantVue]Flags with Measured Moves is a technical analysis tool that identifies bull flags and provides a measured move target.
A bull flag is a continuation pattern that occurs within the context of a general uptrend. It represents a pause or small consolidation before the price resumes its upward movement.
A bull flag consists of two sections: the flagpole and the flag.
The flagpole is the initial upward movement that occurs before the flag forms.
The flag forms as the price consolidates after the initial uptrend. During this phase, the price tends to drift downward or sideways, ideally with declining volume.
Once the flag has put in a low, the initial range of thrust is added to the flag low to form the measured move target.
Every element of the flag is customizable by the trader, including the size and length of the prior uptrend and the minimum and maximum flag depth and length.
The indicator also includes alerts for when new flags are formed, when a breakout from the flag occurs, and when the measured move target is reached.
By default, the indicator settings are set for use on a daily timeframe. If using the indicator on an intraday timeframe, you will need to adjust the settings.
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Head and Shoulders PatternHello Traders!
The Head and Shoulders Pattern indicator utilizes a unique swing-based pattern recognition to pinpoint head and shoulders patterns in real-time with unparalleled precision.
The head and shoulders chart pattern is a technical analysis pattern used to identify potential trend reversals in financial markets. It consists of three swing highs (peaks), with the middle peak being the highest and the two outside swing highs being slightly lower. The middle peak is referred to as the "head" and the two outside peaks are referred to as the "shoulders."
The pattern typically forms after an uptrend and is in most cases a bearish signal. The neckline is a support level that connects the lows of the two shoulders. Once the price breaks below the neckline, the pattern is confirmed, and a new down trend starts. Conversely, an "inverse head and shoulders" pattern forms after a downtrend and is a bullish signal.
Feature List
Real-time pattern detection
Visualization of entry, stop-loss and take-profit levels
Pattern performance statistics
Calculation of risk-rewards ratio
Risk Management
Breakout alerts
Customizable pattern size and accuracy
Customizable look and feel
The value of this indicator is to support traders to easily identify the Head and Shoulders pattern in an automated way. The special swing-based pattern recognition and the numerous built-in premium features make this indicator unique. The trader saves a lot of time scanning the markets for head and shoulders patterns, since everything is done automatically for the trader: Finding the pattern, looking and alerting for a breakout, computing the entry, stop loss and take profit levels as well as handling the risk management and computing the optimal order quantity.
How to Trade with the TRN Head and Shoulders Indicator
Identify the Pattern
Add the Head and Shoulders Pattern Indicator to your chart and look for the pattern on the asset and timeframe of your choice. The pattern is detected in real-time. If the pattern develops further in the next bars, then the indicator updates the pattern accordingly until a breakout is confirmed or the pattern becomes invalid.
You can also use the built-in alerts to easily get notified when a pattern occurs. In the indicator settings in the "Alerts" section you can choose whether you want to get notified when a pattern is
1. in the making (Pattern active),
2. confirms an up breakout (B/O Up Confirmed)
3. confirms a down breakout (B/O Down Confirmed)
4. (Unconfirmed) in case a pattern breakout occurs, even if the pattern is not yet confirmed
This allows you to stay informed about potential breakout opportunities that are still awaiting confirmation.
Check Pattern Statistics
The pattern statistics make it easy for you to see how successful a pattern is on the asset and timeframe you are watching. You should always check the statistics before entering a trade. The chart displays the statistics in the upper right corner. These statistics are categorized into two sections: "long" for inverse head and shoulders patterns and "short" for head and shoulders patterns.
In the initial columns, labeled as "short" and "long", the identified breakouts are further divided based on whether the risk-reward ratio (R) is below a specified value (< x) or equal to/greater than the specified value (>= x). The following columns represent the count of the events:
1. Occ. (Occurrence) categorized according to the values of R from the first column
2. TP1, TP2, TP3 (Take Profit) - targets 1, 2 and 3
3. SL (Stop Loss)
4. T/O (Time Out) - neither stop loss or targets where hit in a certain amount of time
Breakout – Entry, Stop Loss and Targets
The indicator automatically displays the entry price line (EP) in grey at the point where the price breaks through the neckline, indicating a breakout. Once a breakout has been confirmed, place a buy order near the EP level for a long position, or a sell order for a short position. Set your stop-loss at the price level of the red stop-loss line (SL) and set your take-profits at the price level of the green take-profit-lines (TP1, TP2, TP3).
Risk Management
The Head and Shoulders Pattern Indicator comes with a built-in risk management feature. Just go to the settings and scroll down to the section "Risk Management". Here you can enter your Account Size and the percentage you want to Risk when you enter a position after a pattern breakout.
In the "Trade Management" section, you have the option to define the minimum accepted risk-reward ratio for confirmed rectangles. This means that breakouts of patterns failing to meet the minimum risk-reward ratio will not be considered as confirmed signals. If a breakout gets confirmed, the indicator automatically calculates the position size (Quantity). You can read the quantity from the gray entry point line (EP), which is located to the right of the risk-reward ratio (R). Note that your risk-reward ratio (R) is calculated based on TP1.
Customization and Settings
The indicator can scan for smaller and larger patterns at the same time. Adjust the Head and Shoulders Sizes in the indicator settings to align them with your preferences. A larger size results in larger patterns. Depending on the asset class, the market or the market phase, different sizes should be used for the Head and Shoulders pattern detection.
To detect more patterns, increase the tolerance level, even though it may result in lower accuracy. However, be mindful that a higher tolerance level may result in more patterns hitting their stop-loss. Look for a tolerance level that leads to favorable statistics and focus on trading patterns with a proven performance history.
Finally, you have the flexibility to customize various visual elements, such as the color of the pattern and whether to display values like price, target, or risk-reward ratio on your chart. You can also choose where these values appear.
Computation Details
The real-time detection of the Head and Shoulders Pattern Indicator utilizes a unique swing-based pattern recognition. The difference to other swing-based computations is that the pivot points are identified without a look-ahead value. The result is a faster and better real-time detection. Furthermore, the detection of the ratios between the single swings is based on a dynamic volatility measurement similar to the ATR. The tolerance level unites several internal parameters into one and results in a user-friendly setting.
Risk Disclaimer
The content, tools, scripts, articles, and educational resources offered by TRN Trading are intended solely for informational and educational purposes. Remember, past performance does not ensure future outcomes.
Double Tops/Bottoms [UAlgo]🔶Description:
The "Double Tops/Bottoms " indicator is designed to identify potential double tops and double bottoms on price charts. These patterns are often considered significant as they may indicate a reversal in the prevailing trend. The indicator can be applied to both high/low and close price data, offering flexibility in analyzing different aspects of market behavior.
🔶Key Features:
Source Selection: Users can choose between using high/low or close prices as the basis for identifying double tops and bottoms, allowing for tailored analysis based on specific price actions.
Lookback Length: The indicator offers a customizable lookback length, enabling users to adjust the sensitivity of pattern detection according to their trading preferences and timeframes.
Pivot Length: Users can specify the length of the pivot used in identifying double tops and bottoms, providing flexibility in capturing different market dynamics.
Minimum Bar Count Between Tops/Bottoms: A minimum bar count parameter allows users to control the distance between consecutive tops or bottoms, enhancing the accuracy of pattern recognition.
Pivot Tops/Bottoms Only: The indicator offers the option to focus exclusively on pivot tops and bottoms, streamlining the analysis process for users interested specifically in these key reversal points.
Disclaimer:
Trading involves substantial risk and is not suitable for every investor. The indicator provided here is intended for informational purposes only and should not be construed as investment advice or a recommendation to buy, sell, or hold any securities. Users are solely responsible for evaluating their own investment decisions and should seek professional financial advice if needed. The creator of this indicator (UAlgo) does not guarantee the accuracy, completeness, or reliability of the information provided, and shall not be liable for any losses incurred in connection with its use. By using this indicator, users acknowledge and agree to assume all risks associated with trading activities.
Linear Regression Channel 200█ OVERVIEW
This a simplified version of linear regression channel which use length 200 instead of traditional length 100.
█ FEATURES
Color change depends light / dark mode.
█ LIMITATIONS
Limited to source of closing price and max bars back is 1500.
█ SIMILAR
Regression Channel Alternative MTF
Regression Channel Alternative MTF V2
Price Action Pattern Breakout Strategy: Wedge,Triangle,ChannelIntroducing the Price Action Pattern Breakout Strategy: Wedge,Triangle,Channel 💹🚀
The "Price Action Pattern Breakout Strategy: Wedge, Triangle, Channel" is a dynamic and automated trading strategy that excels in recognizing and capitalizing on breakout opportunities within the realm of powerful price action patterns. It is finely tuned to achieve exceptional precision in detecting three distinct pattern types: Wedge, Triangle, and Channel. This diversity equips you to confidently navigate a wide range of market scenarios and opportunities.
This strategy automates trade entries and exits upon confirmed pattern breakouts, this eliminates human errors in correctly recognizing patterns and prevents emotional decisions. This strategy is designed to work across different time frames, making it suitable for both short-term and long-term traders. Whether you're a day trader, swing trader, or investor, this strategy provides the flexibility you need to thrive in diverse market conditions.
💎 How it Works:
▶️ In this strategy, three price action patterns have been utilized, one of which is the "Wedge" pattern. The Wedge pattern has consistently demonstrated a high level of credibility, typically resulting in sharp and rapid price movements following a confirmed breakout from this pattern. This characteristic makes the Wedge pattern highly noteworthy in our strategy. The second pattern is the "Triangle" pattern, which, depending on its formation, whether ascending or descending, can indicate a strong continuation or reversal of the trend. The last pattern is the "Channel" pattern. The reason for using the Channel pattern is its versatility in various market conditions and its tendency to produce reliable results.
In the snapshot below, you can observe the types of patterns that this strategy is capable of identifying at a glance:
▶️ This strategy employs two types of targeting systems: Fixed Targets and Trailing Targets.
Fixed Targets is the default targeting system of the strategy, incorporating two primary targets: TP1 (Target Point 1) and TP2 (Target Point 2). These targets are thoughtfully adjusted in alignment with specific rules for each pattern. With Fixed Targets, you have the flexibility to designate the position size percentage for your exits at TP1 and TP2. For instance, should you opt to allocate 60% of your position size to TP1, as soon as the price triggers the first take profit level, 60% of your initial position is gracefully closed, leaving the remaining 40% to exit the trade upon reaching TP2.
Trailing Targets represent the strategy's alternative targeting system. With this system, the trailing stop becomes active once the price reaches the specified trigger point. The strategy then exits the trade based on the defined offset percentage and price retracement from the trailing limit.
▶️ This strategy relies on a single type of stop loss, determined by previous pivot points and adjusted based on the trade's direction, whether long or short, placing the stop loss above or below the prior pivot. This stop loss approach has demonstrated reliability when used alongside price action patterns.
In addition to this fixed stop loss, you can specify a percentage buffer, offering protection against potential stop hunting due to market fluctuations. This buffer helps protect your positions from sudden price swings. For example, selecting a 1% buffer means your stop loss will be positioned 1% higher or lower concerning the last pivot, depending on your trade's direction. This added layer of security ensures your trades remain resilient and less vulnerable to market volatility.
▶️ A practical feature of this strategy is the "Risk-Free" option. Once activated, it continuously monitors price movements, and as soon as the price progresses in the trade's direction and surpasses the designated Risk-Free Trigger Point in percentage, the stop loss is dynamically shifted from its initial position to the entry price, effectively making the trade "risk-free." This means that if the trade doesn't go as expected, we exit at the entry point, incurring neither profit nor loss from the trade.
Additionally, you have the flexibility to fine-tune the modified stop loss, positioning it slightly above or below the entry price through the configuration of a specified percentage. This allows for effective consideration of commission fees in your trading strategy.
▶️ Risk management is a crucial concept in trading, playing a significant role in a trader's long-term success. This strategy introduces a unique feature called "Fixed Loss Position Sizing", where upon activation, you can limit the risk exposure to a specified percentage of your capital per trade. Set your preferred risk percentage along with the intended leverage. The strategy independently considers your available capital and designated leverage, determining the position size before executing any trade.
In the case of a stop loss, your loss is limited to the specified risk percentage. For instance, with a $1000 account and a 1% risk set, the strategy adjusts each trade's size to ensure a maximum loss of $10 if the stop loss is triggered. Enabling this feature will ensure disciplined risk management, aligning potential losses precisely with your predetermined risk percentage, contingent upon your total available capital.
▶️ Another feature of this strategy is a sophisticated mechanism called "Loss Compensation". When enabled, Loss Compensation dynamically adjusts the position size after a loss, aiming to recover from previous losses in subsequent trades. This adaptive mechanism continually modifies the position size to mitigate the impact of consecutive losses until reaching a user-defined limit for consecutive loss compensations.
The feature's configurability allows users to set the maximum number of consecutive losses to compensate for and also includes an option to factor in trading fees from prior trades into the compensation calculation. Loss Compensation operates in conjunction with the 'Fixed Loss Position Sizing' setting, ensuring that once losses are sufficiently compensated, subsequent entries revert to the predefined configurations within the 'Fixed Loss Position Sizing' settings.
This advanced tool ensures a stable risk management approach by changing trade sizes dynamically according to past results during consecutive loss periods.
▶️ This strategy incorporates a feature known as the "Counter-Pattern Breakout", altering its approach to wedge, triangle, and channel pattern breakouts. Normally, the strategy relies on standard pattern signals to determine whether to enter long or short positions based on breakout directions.
For example, in an ascending channel or a rising wedge pattern, the strategy typically seeks a short position opportunity upon a confirmed breakout in the lower line, and breakouts from the upper line are disregarded by the strategy. But with this feature enabled, strategy disregards the conventional pattern signals, seizing breakouts from upper or lower lines to open corresponding positions. For instance, in the ascending channel or the rising wedge pattern example, the strategy might enter a long position if the upper line breaks or a short position if the lower line breaks.
This introduces a more adaptive and opportunistic trading style, allowing you to capitalize on price movements, irrespective of the typical signal direction indicated by the pattern.
▶️ This strategy is fully compatible with third-party trading bots, allowing for easy connectivity to popular trading platforms. By leveraging the TradingView webhook functionality, you can effortlessly link the strategy to your preferred bot and receive accurate signals for position entry and exit. The strategy provides all the necessary alert message fields, ensuring a smooth and user-friendly trading experience. With this integration, you can automate the execution of trades, saving time and effort while enjoying the benefits of this powerful strategy.
⚙️ How to Use & Configure User Settings:
To fully utilize the "Price Action Pattern Breakout Strategy: Wedge, Triangle, Channel," it's essential to consider and comprehend the following steps. They play a crucial role in enhancing its functionality and achieving its utmost potential outcomes:
1. General Strategy Settings:
Enable Dark Mode if using a dark TradingView theme for improved chart visibility.
Select the Strategy's Trade Direction: Long, Short, or Both.
Choose Pattern Recognition Accuracy: High for precise recognition but fewer positions, Low for more positions with slightly less accuracy.
Enable 'Prevent New Entry on Opposite Signal While In Position' to avoid new trades if the opposite signal occurs.
Switch to Indicator Mode if solely using the strategy as an indicator or in combination with other strategies.
2. Pattern and Pivot Configuration:
Consider configuring the Number of Patterns and Pivot Lookback Lengths. Here, you can personalize the pivot lookback lengths for wedge, triangle, and channel patterns across eight different settings on your chart. For lower time frames, consider larger lengths to reduce chart noise. Alternatively, to maintain clarity on your chart, you can disable multiple patterns with different lengths while ensuring at least one pattern remains enabled.
Note that enabling more patterns doesn't always equate to increased potential profit. Sometimes, fewer patterns result in greater profit potential, and vice versa. Experiment with lengths and the number of patterns to determine the most profitable and optimal outcome for your trading symbol and timeframe.
3. Targeting System Selection:
Choose between 'Fixed Targets' or 'Trailing Targets' for your targeting system.
'Fixed Targets' is the default setting, operational when 'Trailing Targets' are turned off.
Set the TP1 Position Size as a percentage, defining the size for TP1, and the rest exits at TP2.
Optionally activate 'Skip Entry if TP1 is Passed' to bypass entering positions if the price has exceeded TP1.
Alternatively, opt for the 'Trailing Target' for dynamic exits based on trigger points and offsets. Note that this option disables fixed targets.
4. Stop Loss Configuration:
Determine the number of candles to consider for stop loss placement based on the last pivot.
Optionally add a percentage to the stop loss to create a buffer against market fluctuations, guarding your positions from sudden price swings.
5. Risk Management Configuration:
You can activate the 'Risk-Free' feature, making your trades risk-free by moving the stop loss to the entry price upon reaching a specified trigger point.
You have the possibility to enable 'Fixed Loss Position Sizing' to limit risk to a percentage of total capital per trade, ensuring prudent risk management.
You can employ 'Use Real-Time Balance for Each Entry' to precisely calculate fixed loss position sizing according to the real-time balance for every entry.
The 'Loss Compensation' feature can be activated to automatically adjust trade sizes during consecutive losses and compensate for prior incurred losses.
Loss compensation continues adjusting trade sizes until it reaches the defined limit of consecutive losses specified in the 'Maximum Consecutive Losses To Compensate' field.
You can factor in commission fees by specifying a percentage in the 'Include Trading Fees in Compensation (%)' field, providing an option for more accurate loss compensation calculations.
You have the option to enable 'Limit Compensation to Real-Time Balance' to prevent consecutive loss compensation from exceeding your current real-time account balance.
It's important to note that for the 'Loss Compensation' feature to operate, the 'Fixed Loss Position Sizing' must be enabled.
6. Counter-Pattern Breakout Configuration:
In this section you have the option to enable the "Counter-Pattern Breakout" feature to adjust the strategy's approach to wedge, triangle, and channel pattern breakouts. Once enabled, the strategy disregards traditional pattern signals and capitalizes on breakouts from either the upper or lower lines, initiating corresponding positions accordingly.
Choose between 'Fixed Target' or 'Trailing Target' for your targeting system. If you opt for the 'Fixed Target', set a specific target point as a percentage, serving as the default target for counter-pattern breakouts. Alternatively, choose the 'Trailing Target' for dynamic exits based on trigger points and offsets. Do keep in mind that selecting the 'Trailing Target' option disables the fixed target setting.
Keep in mind that for standard, non-counter-pattern breakouts, the target point settings in their respective sections remain applicable, distinct from the settings configured for targeting within this section.
Note that the stop loss configurations are shared across standard pattern and counter-pattern breakouts and can be adjusted within the stop loss section.
7. Info Tables:
In the info tables section, you can show or hide different tables on the charts. This includes the backtest table, the current balance table displaying available funds, and a table showcasing Maximum Consecutive Wins or Losses. Choose which to display according to your preferences and specific needs.
8.Date & Time Range Filter:
Utilize the Date & Time Range filter feature to precisely select a start and end date, including time, to filter data within the chosen range.
When connecting this strategy to a trading bot for automated trades, ensure to set the start date and time to the intended initiation moment to avoid undesired outcomes as this directly affects the real-time balance calculations of the strategy.
8. Integration with Third-Party Bots:
To automate trading, leverage the strategy's compatibility with third-party trading bots. Seamlessly integrate the strategy into well-known trading platforms by using alert message fields to input commands from third-party trading bots, enabling automated trade execution for both long and short positions.
By furnishing these adjustable settings, the strategy empowers you to personalize it according to your unique requirements, thereby bolstering the adaptability and efficacy of your trading approach.
🔐 Source Code Protection:
The 'Price Action Pattern Breakout Strategy: Wedge, Triangle, Channel' source code is engineered for precision, reliability, and effectiveness. Its original and innovative design warrants protection and restricted access, preserving the strategy's exclusivity. Safeguarding the code maintains the strategy's integrity and distinctiveness, providing users with a competitive advantage in their trading endeavors.
Fibonacci HH LL TRAMA BandLuxAlgo's Trend Moving Adaptive Moving Average was used as a reference to create bands by reading the highest and lowest prices of past bars based on Fibonacci numbers and then multiplying them by the Fibonacci ratio.
LuxAlgo/ LuxAlgo/
In particular, the so-called TRAMA is characterized by its adaptation to the average of the highest and lowest prices over a specific period of time and is used to identify support/resistance.
In order to apply this feature to the maximum extent possible, I used the high or low prices as the source of input, rather than the closing price.
For example,
src = high
not original like
src = close
In addition, I created 6 levels by multiplying the Fibonacci ratio
//Midline
mah = ama1
mal = ama2
m = (mah + mal)/2
//Half Mean Range
dist = (mah - mal)/2
//Levels
h6 = m + dist * 11.089
h5 = m + dist * 6.857
h4 = m + dist * 4.235
h3 = m + dist * 2.618
h2 = m + dist * 1.618
h1 = m + dist * 0.618
l1 = m - dist * 0.618
l2 = m - dist * 1.618
l3 = m - dist * 2.618
l4 = m - dist * 4.235
l5 = m - dist * 6.857
l6 = m - dist * 11.089
If you want to use it for scalping, such as 15 minutes, you can include Fibonacci numbers such as 21,34,55 for a quick reaction type to detect the trend. Also, by including Fibonacci numbers such as 89,144,233, you can see where you stand in the larger trend. Some examples are included below.
For Investors
BTCUSDT 1day Chart Fibonacci number "55"
For Daytraders
BTCUSDT 4hour Chart Fibonacci number "34"
For Scalpers
BTCUSDT 15min Chart Fibonacci number "55"
BTCUSDT 15min Chart Fibonacci number "89"
BTCUSDT 15min Chart Fibonacci number "233"
Fibonacci numbers are 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, etc.,
Fibonacci ratios are 0.618, 1.618, 2.618, 4.236, 6.854, 11.089, etc.,
Double Tops & Bottoms [QuantVue]This indicator is designed to detect and plot Double Tops and Double Bottoms, by setting the initial high or low using standard pivot points.
Double Tops
A Double Top is a bearish reversal pattern, typically found when an uptrend returns back to a prior peak. It signifies a potential turning point or resistance level and could potentially reverse in direction.
The pattern is confirmed as a Double Top when the price breaks above the resistance level, but closes below it. A decisive close below this level is seen as a confirmation of the bearish trend.
Double Bottoms
A Double Bottom, on the other hand, is a bullish reversal pattern typically found after a downtrend. It signals a potential turning point or support level where the price has bottomed and could potentially reverse upwards.
The pattern is confirmed as a Double Bottom when the price breaks below the support level, but closes above it. A decisive close above this level is viewed as a confirmation of the bullish trend.
Indicator Features
🔹Double Top Detection: When a double top is identified, a downward-pointing triangle will be plotted above the bar, and if the alerts are enabled, a notification will be triggered.
🔹Double Bottom Detection: When a double bottom is identified, an upward-pointing triangle will be plotted below the bar, and if the alerts are enabled, a notification will be triggered.
🔹Pivot Lookback: Defines the number of bars to the left and right of the pivot that must be lower/higher to qualify as a pivot.
🔹Maximum Length Between Tops/Bottoms: Maximum number of bars between two tops/bottoms to be considered a double top or bottom.
🔹Style Settings: Allows the user to customize the appearance of the lines indicating the tops/bottoms. Options include color selection, line style (dotted, dashed, or solid), and line thickness.
🔹Alerts: The user can enable or disable alerts for Double Top and Double Bottom.
Give this indicator a BOOST and COMMENT your thoughts!
We hope you enjoy.
Cheers!
Nadaraya-Watson Envelope (Non-Repainting) Logarithmic ScaleIn the fast-paced world of trading, having a reliable and accurate indicator can make all the difference. Enter the Nadaraya-Watson Envelope Indicator, a cutting-edge tool designed to provide traders with valuable insights into market trends and potential price movements. In this article, we'll explore the advantages of this non-repainting indicator and how it can empower traders to make informed decisions with confidence.
Accurate Price Analysis:
The Nadaraya-Watson Envelope Indicator operates in a logarithmic scale, allowing for more accurate price analysis. By considering the logarithmic nature of price movements, this indicator captures the subtle nuances of market dynamics, providing a comprehensive view of price action. Traders can leverage this advantage to identify key support and resistance levels, spot potential breakouts, and anticipate trend reversals.
Non-Repainting Reliability:
One of the most significant advantages of the Nadaraya-Watson Envelope Indicator is its non-repainting nature. Repainting indicators can mislead traders by changing historical signals, making it difficult to evaluate past performance accurately. With the non-repainting characteristic of this indicator, traders can have confidence in the reliability and consistency of the signals generated, ensuring more accurate backtesting and decision-making.
Customizable Parameters:
Every trader has unique preferences and trading styles. The Nadaraya-Watson Envelope Indicator offers a range of customizable parameters, allowing traders to fine-tune the indicator to their specific needs. From adjusting the lookback window and relative weighting to defining the start of regression, traders have the flexibility to adapt the indicator to different timeframes and trading strategies, enhancing its effectiveness and versatility.
Envelope Bounds and Estimation:
The Nadaraya-Watson Envelope Indicator calculates upper and lower bounds based on the Average True Range (ATR) and specified factors. These envelope bounds act as dynamic support and resistance levels, providing traders with valuable reference points for potential price targets and stop-loss levels. Additionally, the indicator generates an estimation plot, visually representing the projected price movement, enabling traders to anticipate market trends and make well-informed trading decisions.
Visual Clarity with Plots and Fills:
Clear visualization is crucial for effective technical analysis. The Nadaraya-Watson Envelope Indicator offers plots and fills to enhance visual clarity and ease of interpretation. The upper and lower boundaries are plotted, along with the estimation line, allowing traders to quickly assess price trends and volatility. Fills between the boundaries provide a visual representation of different price regions, aiding in identifying potential trading opportunities and risk management.
Conclusion:
The Nadaraya-Watson Envelope Indicator is a powerful tool for traders seeking accurate and reliable insights into market trends and price movements. With its logarithmic scale, non-repainting nature, customizable parameters, and visual clarity, this indicator equips traders with a competitive edge in the financial markets. By harnessing the advantages offered by the Nadaraya-Watson Envelope Indicator, traders can navigate the complexities of trading with confidence and precision. Unlock the potential of this advanced indicator and elevate your trading strategy to new heights.
RAINBOW AVERAGES - INDICATOR - (AS) - 1/3
-INTRODUCTION:
This is the first of three scripts I intend to publish using rainbow indicators. This script serves as a groundwork for the other two. It is a RAINBOW MOVING AVERAGES indicator primarily designed for trend detection. The upcoming script will also be an indicator but with overlay=false (below the chart, not on it) and will utilize RAINBOW BANDS and RAINBOW OSCILLATOR. The third script will be a strategy combining all of them.
RAINBOW moving averages can be used in various ways, but this script is mainly intended for trend analysis. It is meant to be used with overlay=true, but if the user wishes, it can be viewed below the chart. To achieve this, you need to change the code from overlay=true to false and turn off the first switch that plots the rainbow on the chart (or simply move the indicator to a new pane below). By doing this, you will be able to see how all four conditions used to detect trends work on the chart. But let's not get ahead of ourselves.
-WHAT IS IT:
In its simplest form, this indicator uses 10 moving averages colored like a rainbow. The calculation is as follows:
MA0: This is the main moving average and can be defined with the type (SMA, EMA, RMA, WMA, SINE), length, and price source. However, the second moving average (MA1) is calculated using MA0 as its source, MA2 uses MA1 as the data source, and so on, until the last one, MA9. Hence, there are 10 moving averages. The first moving average is special as all the others derive from it. This indicator has many potential uses, such as entry/exit signals, volatility indication, and stop-loss placement, but for now, we will focus on trend detection.
-TREND DETECTION:
The indicator offers four different background color options based on the user's preference:
0-NONE: No background color is applied as no trend detection tools is being used (boring)
1-CHANGE: The background color is determined by summing the changes of all 10 moving averages (from two bars). If the sum is positive and not falling, the background color is GREEN. If the sum is negative and not rising, the background color is RED. From early testing, it works well for the beginning of a movement but not so much for a lasting trend.
2-RAINBW: The background color is green when all the moving averages are in ascending order, indicating a bullish trend. It is red when all the moving averages are in descending order, indicating a bearish trend. For example, if MA1>MA2>MA3>MA4..., the background color is green. If MA1 threshold, and red indicates width < -threshold.
4-DIRECT: The background color is determined by counting the number of moving averages that are either above or below the input source. If the specified number of moving averages is above the source, the background color is green. If the specified number of moving averages is below the source, the background color is red. If all ten MAs are below the price source, the indicator will show 10, and if all ten MAs are above, it will show -10. The specific value will be set later in the settings (same for 3-TSHOLD variant). This method works well for lasting trends.
Note: If the indicator is turned into a below-chart version, all four color options can be seen as separate indicators.
-PARAMETERS - SETTINGS:
The first line is an on/off switch to plot the skittles indicator (and some info in the tooltip). The second line has already been discussed, which is the background color and the selection of the source (only used for MA0!).
The line "MA1: TYP/LEN" is where we define the parameters of MA0 (important). We choose from the types of moving averages (SMA, EMA, RMA, WMA, SINE) and set the length.
Important Note: It says MA1, but it should be MA0!.
The next line defines whether we want to smooth MA1 (which is actually MA0) and the period for smoothing. When smoothing is turned on, MA0 will be smoothed using a 3-pole super smoother. It's worth noting that although this only applies to MA0, as the other MAs are derived from it, they will also be smoothed.
In the line below, we define the type and length of MAs for MA2 (and other MAs except MA0). The same type and length are used for MA1 to MA9. It's important to remember that these values should be smaller. For example, if we set 55, it means that MA1 is the average of 55 periods of MA0, MA2 will be 55 periods of MA1, and so on. I encourage trying different combinations of MA types as it can be easily adjusted for ur type of trading. RMA looks quirky.
Moving on to the last line, we define some inputs for the background color:
TSH: The threshold value when using 3-TSHOLD-BGC. It's a good idea to change the chart to a pane below for easier adjustment. The default values are based on EURUSD-5M.
BG_DIR: The value that must be crossed or equal to the MA score if using 4-DIRECT-BGC. There are 10 MAs, so the maximum value is also 10. For example, if you set it to 9, it means that at least 9 MAs must be below/above the price for the script to detect a trend. Higher values are recommended as most of the time, this indicator oscillates either around the maximum or minimum value.
-SUMMARY OF SETTINGS:
L1 - PLOT MAs and general info tooltip
L2 - Select the source for MA0 and type of trend detection.
L3 - Set the type and length of MA0 (important).
L4 - Turn smoothing on/off for MA0 and set the period for super smoothing.
L5 - Set the type and length for the rest of the MAs.
L6 - Set values if using 4-DIRECT or 3-TSHOLD for the trend detection.
-OTHERS:
To see trend indicators, you need to turn off the plotting of MAs (first line), and then choose the variant you want for the background color. This will plot it on the chart below.
Keep in mind that M1 int settings stands for MA0 and MA2 for all of the 9 MAs left.
Yes, it may seem more complicated than it actually is. In a nutshell, these are 10 MAs, and each one after MA0 uses the previous one as its source. Plus few conditions for range detection. rest is mainly plots and colors.
There are tooltips to help you with the parameters.
I hope this will be useful to someone. If you have any ideas, feedback, or spot errors in the code, LET ME KNOW.
Stay tuned for the remaining two scripts using skittles indicators and check out my other scripts.
-ALSO:
I'm always looking for ideas for interesting indicators and strategies that I could code, so if you don't know Pinescript, just message me, and I would be glad to write your own indicator/strategy for free, obviously.
-----May the force of the market be with you, and until we meet again,
StdDev ChannelsThis script draws two sets of standard deviation channels on the price chart, providing a nuanced view of price volatility over different lengths.
The script starts by declaring a set of user-defined inputs allowing traders to customize the tool according to their individual requirements. The price input sets the source of the price data, defaulting to the closing price but customizable to use open, high, or low prices. The deviations parameter defines the width of the channels, with larger numbers resulting in wider channels. The length and length2 inputs represent the number of periods (in bars) that the script considers when calculating the regression line and standard deviation. Traders can also personalize the visual aspects of the indicator on the chart using the color, linewidth, and linestyle parameters.
Calculation of Standard Deviation:
The core of this script lies in calculating the regression line and standard deviation. This is where the InertiaAll function comes into play. This function calculates the linear regression line, which serves as the middle line of each channel. The function takes in two parameters: y (price data) and n (length for calculation). It returns an array containing the values for the regression line (InertiaTS), counter variable (x), slope of the line (a), and y-intercept (b). The standard deviation is then calculated using the built-in function ta.stdev, which measures the amount of variation or dispersion from the average.
After the calculation, the script proceeds to draw the channels. It creates two sets of lines (upper, middle, and lower) for each channel. These lines are initialized at the lowest price point on the chart (low). The coordinates for these lines get updated in the last section of the script, which runs only on the last bar on the chart (if barstate.islast). The functions line.set_xy1 and line.set_xy2 are used to adjust the starting and ending points for each line, forming the channels.
If the "full range" toggle is enabled, the script uses the maximum number of bars available on the chart to calculate the regression and standard deviation. This can give a broader perspective of the price's volatility over the entire available data range.
A Basic Strategy
The channels generated by this script may inform your trading decisions. If the price hits the upper line of a channel, it could suggest an 'overbought' condition indicating a potential selling opportunity. Conversely, if the price hits the lower line, it might signal an 'oversold' condition, suggesting a buying opportunity. The second channel, calculated over a different length, may serve to confirm these signals or identify longer-term trends.
Trend Channels With Liquidity Breaks [ChartPrime]Trend Channels
This simple trading indicator is designed to quickly identify and visualize support and resistance channels in any market. The primary purpose of the Trend Channels with Liquidity Breaks indicator is to recognize and visualize the dominant trend in a more intuitive and user-friendly manner.
Main Features
Automatically identifies and plots channels based on pivot highs and lows
Option to extend the channel lines
Display breaks of the channels where liquidity is deemed high
Inclusion of volume data within the channel bands (optional)
Market-friendly and customizable colors and settings for easy visual identification
Settings
Length: Adjust the length and lookback of the channels
Show Last Channel: Only shows the last channel
Volume BG: Shade the zones according to the volume detected
How to Interpret
Trend Channels with Liquidity Breaks indicator uses a combination of pivot highs and pivot lows to create support and resistance zones, helping traders to identify potential breakouts, reversals or continuations of a trend.
These support and resistance zones are visualized as upper and lower channel lines, with a dashed center line representing the midpoint of the channel. The indicator also allows you to see the volume data within the channel bands if you choose to enable this functionality. High volume zones can potentially signal strong buying or selling pressure, which may lead to potential breakouts or trend confirmations.
To make the channels more market-friendly and visually appealing, Trend Channels indicator also offers customizable colors for upper and lower lines, as well as the possibility to extend the line lengths for further analysis.
The indicator displays breaks of key levels in the market with higher volume.
Recursive Reversal Chart Patterns [Trendoscope]Caution: This algorithm is very heavy and bound to cause timeouts. If that happens, there are few settings you can change to reduce the load. (Will explain them in the description below)
🎲 Recursive Reversal Chart Patterns Indicator
Welcome to another exploration of Zigzag and Pattern ecosystem components. Previously we derived Pitchfork and Recursive Zigzag indicators. This indicator is designed to scan and highlight few popular "Reversal Chart Patterns". Similar to other indicators in the ecosystem, this too is built on recursive zigzags.
Double Taps
Triple Taps
Cup and Handles
Head and Shoulders
Indicator however names the patterns separately for bullish and bearish formations. So, the actual names you see on the screen are
Double Top
Double Bottom
Triple Top
Triple Bottom
Cup and Handle
Inverted Cup and Handle
Head and Shoulders
Inverse Head and Shoulders
Here is a snapshot on how each category of patterns look on the chart.
🎲 Architecture
Many of you may be cursing me for publishing too many libraries. But, these are all preparations for something big. Like other indicators in the Zigzag and Patterns Ecosystem, this too uses a bunch of libraries.
🎯Major direct dependencies
ZigzagTypes
ZigzagMethods
ReversalChartPatternLibrary
🎯Indirect dependencies
DrawingTypes
DrawingMethods
🎯Minor dependencies
Utils
TradeTracker
🎲 Indicator Settings
🎯Generic and Zigzag Settings.
Note: In case of timeout, please decrease the value of depth parameter
🎯Pattern Selection
Having all the patterns selected on chart may also cause timeouts and will make the chart look messy. It is better to limit one or two patterns on the chart to have clear picture.
🎯Scanner Settings
🎯Indicators.
These are options to use indicators as secondary confirmation to calculate divergence. If selected, the patterns are shown only if the divergence data is inline. Option also available to plugin external indicator. These calculations are not straightforward and not easy to measure by manual inspection. This feature at present is purely experimental.
Have a go and let me know how you feel :)
Regression Envelope MTFThe Regression Envelope MTF indicator is a technical analysis tool that uses linear regression to identify potential price reversal points in the market. The indicator plots a linear regression line based on the selected price source over a specified length, and adds and subtracts a multiple of the standard deviation to create upper and lower bands around the line.
One advantage of using linear regression over the traditional envelope indicator is that it takes into account the slope of the trend, rather than assuming that the trend is linear. This means that the bands will adapt to the slope of the trend, which can provide more accurate signals in trending markets.
Another advantage of using linear regression over a simple moving average (SMA) is that it is less sensitive to outliers. SMAs can be heavily influenced by extreme values in the data, which can result in false signals. Linear regression, on the other hand, is more robust to outliers, which can lead to more reliable signals.
Overall, the Regression Envelope MTF indicator can be a useful tool for traders and investors looking to identify potential price reversal points and generate trading signals. However, it should be used in conjunction with other technical analysis tools and with proper risk management strategies in place.
Donchian Channel Smoothed (Linear Regression)The script is an implementation of the Donchian Channel Smoothed indicator using linear regression to smooth the data. The indicator plots three curves: the middle curve, which represents the average of the upper and lower curves, and the upper and lower curves, which are the standard Donchian channels.
The smoothing is done using linear regression on the highest and lowest of the given period. This helps filter out the noise in the data and provides a smoother curve that can help traders identify trends and key levels of support and resistance. The advantages of using linear regression for smoothing are reduced data volatility, better identification of long-term trends, and improved ability to identify support and resistance levels.
Using this indicator, traders can identify potential entry and exit points in a trend, as well as key support and resistance levels. Donchian channels are also useful for measuring asset volatility and determining trading range boundaries.
In summary, using linear regression to smooth the data in the Donchian Channel Smoothed indicator presents significant advantages for traders, such as reduced data volatility and better identification of long-term trends. This allows traders to more easily identify support and resistance levels and make more informed trading decisions.
BD Momentum ChannelIntroducing the BD Momentum Channel, a new indicator that helps traders identify market trends and momentum through a combination of upper and lower channels, as well as fast and slow moving averages. The BD Momentum Channel can be used in standalone mode or in combination with other technical analysis tools to enhance trading strategies. We recommend using it in combination with the Wave Master indicator.
To use the indicator, simply input the desired length for the upper and lower channels, as well as the smoothing periods for the fast and slow moving averages or use the provided defaults. The Bull and Bear Levels can be set to the desired values, while the Extreme Bull and Extreme Bear Levels can be used to signal significant market movements.
The BD Momentum Channel works by calculating the highest and lowest prices over a specified period, and then finding the average of these two values, which is used as the basis for the upper and lower channels. The width of the channel is calculated as the difference between the upper and lower channels, while the position of the current price in relation to the upper and lower channels is used to determine the percentage change and which half of the channel the price is in.
The fast and slow moving averages are then calculated using a simple moving average function, and plotted as histograms on the chart. The Bull and Bear Levels are also plotted on the chart as horizontal lines, providing a quick reference for market direction.
The BD Momentum Channel also includes a range of color-coded signals, including extreme bull and bear levels, and cross-under and cross-over signals that can be used to confirm trends and changes in market momentum.
Overall, the BD Momentum Channel is a powerful tool for traders looking to identify market trends and momentum, and can be easily customized to suit individual trading strategies.
TideMasterThe TideMaster is an alternative to the classic moving average, providing a volatility channel around its centerline. The idea of such envelope has been popularized by many technicians such as Jake Bernstein and Jeffrey Kennedy.
The channel creates a virtual S/R zone which is ideal trend following and pullback entries after impulsive movements. It also acts as a tool to avoid price whipsaws and to provide a simple heuristic for entry and stop loss placement within a moving average system.
This indicator has the following unique features:
- Gradient Color Centerline to track the moving average slope/direction.
- Gradient Color Volatility Channel with adjustable width.
- 5 Moving Average Types: EMA,SMA,HMA,WMA & VWMA.
Enjoy!
Double top and double bottomThis script identifies double top and double bottom chart patterns
It has many settings. For example, you can choose by which extremums you want to identify patterns - by the edges of wicks (tails, shadows), or by the edges of candle bodies .
The Sensitivity parameter will allow you to control the frequency of detected patterns , depending on whether you want the patterns to be detected more often, or if they cover a larger number of candles and thus be more reliable.
There are also several settings which you can determine the parameters of the pattern - the length and proportions of the lines included in it .
You can also customize your styles.
All key settings are accompanied by tooltips
TradingWolf Premium PatternsThe TradingWolf Premium is a one of a kind indicator which can identify charting patterns unlike any others. Standard Chart patterns take 10+ candles to recognise where as ares are almost instant without repainting!
Within this one indicator you will have access to Break Out Levels , Dynamic Support and resistance, Bull Flag, Bear Flag, Rising Wedge, Falling Wedge, Inverse Head & Shoulders, Head & Shoulders, Double Top, Double Bottom, Trend Lines, Ascending Triangle, Descending Triangle, Parallel Channel & Linear Regression Channels.
Below each indicator is explained along with its enhancements to help you understand it better.
This script comes with the 'TradingWolf Premium' to get access, read the Author’s Instructions below.
There are extensive explanations on how to use this indicator in our documentation on the website but we will give a simple overview here.
Break Out Levels
Break out levels are great for breakout traders, this indicator is scanning for strong points of support & resistance, it does this by finding pivot points where price has had a noticeable pull back. From there it will monitor that level and display a signal soon as price breaks it.
Another use case for this indicator is helping identify the market structure direction. If we are breaking up and getting Green triangles, this suggests we are in a bullish up-trending structure and vice versa for red bearish signals.
Support & Resistance
There are lots of ways of deciding how to mark up support and resistance, we like to use ATR values related to daily price action. Marking levels up on lower timeframes tend not to give such good levels to play whereas calculating values from the Higher time frames gives us levels we know are more like to be respected.
Although they are calculated from the daily timeframe you will notice these levels will adjust to the daily price action to make sure they are keeping up to date on levels you need to keep an eye on.
Flags
Flags show signs of continuation, they are confirmed when price breaks the upper resistance for bull flags and lower support for bear flags. They are commonly used in trading but with this indicator, it will help you spot ones you may normally miss. Everyone judges flags differently so we have given you the ability to decide how strict you would like the flags to be with the correlation setting, if you set it to 100% the top and bottom lines of the flag must be going at the exact same angle to count as a valid flag.
Wedges
A wedge pattern is typically a reversal pattern, you would normally use these in correlation with volume. For a confirmed wedge you want declining volume as the price reaches the wedge end. You can either try entering at the top/bottom of the wedge pattern or wait until price breaks into the opposite trending direction.
Head & Shoulders
These are reversal patterns, for a confirmed Head and shoulder pattern you want to pair it with declining volume or momentum
You will notice you have a HF option, when enabled this will scan multiple different lengths of pivots to try spot more patterns which the regular settings may miss. If you think you are getting enough you may want to disable this.
Triangles
Triangles help us identify areas where price starts consolidating in a narrow range, once we reach roughly ¾ of the way through the triangle, we will see a break out in either direction, normally confirmation just requires 1 close out of the triangle along with increased volume. If you miss the initial move you may be able to catch a retest if you are lucky!
Double Tops & Bottoms
These patterns are considered reversal patterns. They are confirmed on the break of the neck line with increased volume.
Trend Lines
These are as simple as the name suggests, the lines are calculated slightly differently to other support and resistance points but they will work the same spotting potential areas where price will bounce or reject.
Channels
Similar to Trend lines but these are looking for trend lines at the same angle forming channels where price tends to range between. You have several options to edit these in the settings including the correlation % of the channel lines, how many candles are allowed outside of the channel (fake outs), sensitivity/ frequency the channels appear and whether you use the Wicks or candle Closes to determine where to calculate the channels from.
Linear Regression Channels
Linear regression is the analysis of two separate variables to define a single relationship and is a useful measure from a technical and quantitative point of view.
As seen in the image above, these can be used to help determine key levels in the chart where price is likely to react. In the settings you will be able to adjust its sensitivity to the levels you like to trade.
Pro Trading Art - Double Top & Bottom with alertThis indicator is based on ta.pivothigh and ta.pivotlow function. And with the help of different ph and pl I am detecting double top and double bottom.
Features
1. All signal are on realtime means no repaint
2. Able to detect precise double top & bottom
Input Field
Pivot Length : Default 10 => Use to detect pivot point
V Bottom & V Top Pattern [Misu]█ This indicator shows V bottom & V top patterns as well as potential V bottom & V top.
These V bottom & V top are chart powerful reversal patterns.
They appear in all markets and time-frames, but due to the nature of the aggressive moves that take place when a market reverses direction, it can be difficult to identify this pattern in real-time.
To address this problem, I added potential V pattern as well as the confirmed one.
█ Usages:
You can use V top & V bottoms for reversal zones.
You can use it for scalping strategies, as a main buy & sell signal.
Potential V patterns can be used to anticipate the market, in addition to volatility or momentum indicators, for example.
█ How it works?
This indicator uses pivot points to determine potential V patterns and confirm them.
Paramaters are available to filter breakouts of varying strengths.
Patterns also have a "max number bars" to be validated.
█ Why a Strategy type indicator?
Due to the many different parameters, this indicator is a strategy type.
This way you can overview the best settings depending on your pair & timeframe.
Parameters are available to filter.
█ Parameters:
Deviation: Parameter used to calculate parameters.
Depth: Parameter used to calculate parameters.
Confirmation Type: Type of signal used to confirme the pattern.
> Mid Pivot: pattern will confirm on mid pivot breakout.
> Opposit Pivot: pattern will confirm on opposit pivot breakout.
> No confirmation: no confirmation.
Lenght Avg Body: Lenght used to calculate the average body size.
First Breakout Factor: This factor multiplied by the "body avg" filters out the non-significant breakout of potential V pattern.
Confirmation Breakout Factor: This factor multiplied by the "body avg" filters out the non-significant breakout for the confirmation.
Max Bars Confirmation: The maximum number of bars needed to validate the pattern.
Hodrick-Prescott Channel [Loxx]Hodrick-Prescott Channel is a fast and slow moving average that moves inside a channel. Breakouts are when the fast ma crosses up over the slow ma and breakdowns are the opposite. The white moving average is the fast ma, the slow moving average is the red/green ma.
What is Hodrick–Prescott filter?
The Hodrick–Prescott filter (also known as Hodrick–Prescott decomposition) is a mathematical tool used in macroeconomics, especially in real business cycle theory, to remove the cyclical component of a time series from raw data. It is used to obtain a smoothed-curve representation of a time series, one that is more sensitive to long-term than to short-term fluctuations. The adjustment of the sensitivity of the trend to short-term fluctuations is achieved by modifying a multiplier Lambda.
The filter was popularized in the field of economics in the 1990s by economists Robert J. Hodrick and Nobel Memorial Prize winner Edward C. Prescott, though it was first proposed much earlier by E. T. Whittaker in 1923.
There are some drawbacks to use the HP filter than you can read here: en.wikipedia.org
Included
Bar coloring
Signals
Alerts
Adaptive ATR Keltner Channels [Loxx]Adaptive ATR Channels are adaptive Keltner channels. ATR is calculated using a rolling signal-to-noise ratio making this indicator flex more to changes in price volatility than the fixed Keltner Channels.
What is Average True Range (ATR)?
The average true range (ATR) is a technical analysis indicator, introduced by market technician J. Welles Wilder Jr. in his book New Concepts in Technical Trading Systems, that measures market volatility by decomposing the entire range of an asset price for that period.1
The true range is taken as the greatest of the following: current high less the current low; the absolute value of the current high less the previous close; and the absolute value of the current low less the previous close. The ATR is then a moving average, generally using 14 days, of the true ranges.
What are Keltner Channel (ATR)?
Keltner Channels are volatility-based bands that are placed on either side of an asset's price and can aid in determining the direction of a trend.
The Keltner channel uses the average-true range (ATR) or volatility, with breaks above or below the top and bottom barriers signaling a continuation.
