Average High-Low Range + IBS Reversal Strategy█ STRATEGY DESCRIPTION
The "Average High-Low Range + IBS Reversal Strategy" is a mean-reversion strategy designed to identify potential buying opportunities when the price deviates significantly from its average high-low range and the Internal Bar Strength (IBS) indicates oversold conditions. It enters a long position when specific conditions are met and exits when the price shows strength by exceeding the previous bar's high. This strategy is suitable for use on various timeframes.
█ WHAT IS THE AVERAGE HIGH-LOW RANGE?
The Average High-Low Range is calculated as the Simple Moving Average (SMA) of the difference between the high and low prices over a specified period. It helps identify periods of increased volatility and potential reversal points.
█ WHAT IS INTERNAL BAR STRENGTH (IBS)?
Internal Bar Strength (IBS) is a measure of where the closing price is relative to the high and low of the bar. It is calculated as:
IBS = (Close - Low) / (High - Low)
A low IBS value (e.g., below 0.2) indicates that the close is near the low of the bar, suggesting oversold conditions.
█ SIGNAL GENERATION
1. LONG ENTRY
A Buy Signal is triggered when:
The close price has been below the buy threshold (calculated as `upper - (2.5 * hl_avg)`) for a specified number of consecutive bars (`bars_below_threshold`).
The IBS value is below the specified buy threshold (`ibs_buy_treshold`).
The signal occurs within the specified time window (between `Start Time` and `End Time`).
2. EXIT CONDITION
A Sell Signal is generated when the current closing price exceeds the high of the previous bar (`close > high `). This indicates that the price has shown strength, potentially confirming the reversal and prompting the strategy to exit the position.
█ ADDITIONAL SETTINGS
Length: The lookback period for calculating the average high-low range. Default is 20.
Bars Below Threshold: The number of consecutive bars the price must remain below the buy threshold to trigger a Buy Signal. Default is 2.
IBS Buy Threshold: The IBS value below which a Buy Signal is triggered. Default is 0.2.
Start Time and End Time: The time window during which the strategy is allowed to execute trades.
█ PERFORMANCE OVERVIEW
This strategy is designed for mean-reverting markets and performs best when the price frequently deviates from its average high-low range.
It is sensitive to oversold conditions, as indicated by the IBS, which helps to identify potential reversals.
Backtesting results should be analyzed to optimize the Length, Bars Below Threshold, and IBS Buy Threshold parameters for specific instruments.
Daytrading
Turn of the Month Strategy on Steroids█ STRATEGY DESCRIPTION
The "Turn of the Month Strategy on Steroids" is a seasonal mean-reversion strategy designed to capitalize on price movements around the end of the month. It enters a long position when specific conditions are met and exits when the Relative Strength Index (RSI) indicates overbought conditions. This strategy is optimized for use on daily or higher timeframes.
█ WHAT IS THE TURN OF THE MONTH EFFECT?
The Turn of the Month effect refers to the observed tendency of stock prices to rise around the end of the month. This strategy leverages this phenomenon by entering long positions when the price shows signs of a reversal during this period.
█ SIGNAL GENERATION
1. LONG ENTRY
A Buy Signal is triggered when:
The current day of the month is greater than or equal to the specified `dayOfMonth` threshold (default is 25).
The close price is lower than the previous day's close (`close < close `).
The previous day's close is also lower than the close two days ago (`close < close `).
The signal occurs within the specified time window (between `Start Time` and `End Time`).
There is no existing open position (`strategy.position_size == 0`).
2. EXIT CONDITION
A Sell Signal is generated when the 2-period RSI exceeds 65, indicating overbought conditions. This prompts the strategy to exit the position.
█ ADDITIONAL SETTINGS
Day of Month: The day of the month threshold for triggering a Buy Signal. Default is 25.
Start Time and End Time: The time window during which the strategy is allowed to execute trades.
█ PERFORMANCE OVERVIEW
This strategy is designed to exploit seasonal price patterns around the end of the month.
It performs best in markets where the Turn of the Month effect is pronounced.
Backtesting results should be analyzed to optimize the `dayOfMonth` threshold and RSI parameters for specific instruments.
Consecutive Bars Above/Below EMA Buy the Dip Strategy█ STRATEGY DESCRIPTION
The "Consecutive Bars Above/Below EMA Buy the Dip Strategy" is a mean-reversion strategy designed to identify potential buying opportunities when the price dips below a moving average for a specified number of consecutive bars. It enters a long position when the dip condition is met and exits when the price shows strength by exceeding the previous bar's high. This strategy is suitable for use on various timeframes.
█ WHAT IS THE MOVING AVERAGE?
The strategy uses either a Simple Moving Average (SMA) or an Exponential Moving Average (EMA) as a reference for identifying dips. The type and length of the moving average can be customized in the settings.
█ SIGNAL GENERATION
1. LONG ENTRY
A Buy Signal is triggered when:
The close price is below the selected moving average for a specified number of consecutive bars (`consecutiveBarsTreshold`).
The signal occurs within the specified time window (between `Start Time` and `End Time`).
2. EXIT CONDITION
A Sell Signal is generated when the current closing price exceeds the high of the previous bar (`close > high `). This indicates that the price has shown strength, potentially confirming the reversal and prompting the strategy to exit the position.
█ ADDITIONAL SETTINGS
Consecutive Bars Threshold: The number of consecutive bars the price must remain below the moving average to trigger a Buy Signal. Default is 3.
MA Type: The type of moving average used (SMA or EMA). Default is SMA.
MA Length: The length of the moving average. Default is 5.
Start Time and End Time: The time window during which the strategy is allowed to execute trades.
█ PERFORMANCE OVERVIEW
This strategy is designed for mean-reverting markets and performs best when the price frequently oscillates around the moving average.
It is sensitive to the number of consecutive bars below the moving average, which helps to identify potential dips.
Backtesting results should be analysed to optimize the Consecutive Bars Threshold, MA Type, and MA Length for specific instruments.
Turn around Tuesday on Steroids Strategy█ STRATEGY DESCRIPTION
The "Turn around Tuesday on Steroids Strategy" is a mean-reversion strategy designed to identify potential price reversals at the start of the trading week. It enters a long position when specific conditions are met and exits when the price shows strength by exceeding the previous bar's high. This strategy is optimized for ETFs, stocks, and other instruments on the daily timeframe.
█ WHAT IS THE STARTING DAY?
The Starting Day determines the first day of the trading week for the strategy. It can be set to either Sunday or Monday, depending on the instrument being traded. For ETFs and stocks, Monday is recommended. For other instruments, Sunday is recommended.
█ SIGNAL GENERATION
1. LONG ENTRY
A Buy Signal is triggered when:
The current day is the first day of the trading week (either Sunday or Monday, depending on the Starting Day setting).
The close price is lower than the previous day's close (`close < close `).
The previous day's close is also lower than the close two days ago (`close < close `).
The signal occurs within the specified time window (between `Start Time` and `End Time`).
If the MA Filter is enabled, the close price must also be above the 200-period Simple Moving Average (SMA).
2. EXIT CONDITION
A Sell Signal is generated when the current closing price exceeds the high of the previous bar (`close > high `). This indicates that the price has shown strength, potentially confirming the reversal and prompting the strategy to exit the position.
█ ADDITIONAL SETTINGS
Starting Day: Determines the first day of the trading week. Options are Sunday or Monday. Default is Sunday.
Use MA Filter: Enables or disables the 200-period SMA filter for long entries. Default is disabled.
Start Time and End Time: The time window during which the strategy is allowed to execute trades.
█ PERFORMANCE OVERVIEW
This strategy is designed for markets with frequent weekly reversals.
It performs best in volatile conditions where price movements are significant at the start of the trading week.
Backtesting results should be analysed to optimize the Starting Day and MA Filter settings for specific instruments.
Consecutive Bearish Candle Strategy█ STRATEGY DESCRIPTION
The "Consecutive Bearish Candle Strategy" is a momentum-based strategy designed to identify potential reversals after a sustained bearish move. It enters a long position when a specific number of consecutive bearish candles occur and exits when the price shows strength by exceeding the previous bar's high. This strategy is optimized for use on various timeframes and instruments.
█ SIGNAL GENERATION
1. LONG ENTRY
A Buy Signal is triggered when:
The close price has been lower than the previous close for at least `Lookback` consecutive bars. This indicates a sustained bearish move, suggesting a potential reversal.
The signal occurs within the specified time window (between `Start Time` and `End Time`).
2. EXIT CONDITION
A Sell Signal is generated when the current closing price exceeds the high of the previous bar (`close > high `). This indicates that the price has shown strength, potentially confirming the reversal and prompting the strategy to exit the position.
█ ADDITIONAL SETTINGS
Lookback: The number of consecutive bearish bars required to trigger a Buy Signal. Default is 3.
Start Time and End Time: The time window during which the strategy is allowed to execute trades.
█ PERFORMANCE OVERVIEW
This strategy is designed for markets with frequent momentum shifts.
It performs best in volatile conditions where price movements are significant.
Backtesting results should be analysed to optimize the `Lookback` parameter for specific instruments.
4 Bar Momentum Reversal strategy█ STRATEGY DESCRIPTION
The "4 Bar Momentum Reversal Strategy" is a mean-reversion strategy designed to identify price reversals following a sustained downward move. It enters a long position when a reversal condition is met and exits when the price shows strength by exceeding the previous bar's high. This strategy is optimized for indices and stocks on the daily timeframe.
█ WHAT IS THE REFERENCE CLOSE?
The Reference Close is the closing price from X bars ago, where X is determined by the Lookback period. Think of it as a moving benchmark that helps the strategy assess whether prices are trending upwards or downwards relative to past performance. For example, if the Lookback is set to 4, the Reference Close is the closing price 4 bars ago (`close `).
█ SIGNAL GENERATION
1. LONG ENTRY
A Buy Signal is triggered when:
The close price has been lower than the Reference Close for at least `Buy Threshold` consecutive bars. This indicates a sustained downward move, suggesting a potential reversal.
The signal occurs within the specified time window (between `Start Time` and `End Time`).
2. EXIT CONDITION
A Sell Signal is generated when the current closing price exceeds the high of the previous bar (`close > high `). This indicates that the price has shown strength, potentially confirming the reversal and prompting the strategy to exit the position.
█ ADDITIONAL SETTINGS
Buy Threshold: The number of consecutive bearish bars needed to trigger a Buy Signal. Default is 4.
Lookback: The number of bars ago used to calculate the Reference Close. Default is 4.
Start Time and End Time: The time window during which the strategy is allowed to execute trades.
█ PERFORMANCE OVERVIEW
This strategy is designed for trending markets with frequent reversals.
It performs best in volatile conditions where price movements are significant.
Backtesting results should be analysed to optimize the Buy Threshold and Lookback parameters for specific instruments.
MTF Fractal Bias Confluence DetectorMTF Fractal Bias Confluence Detector
This indicator, the MTF Fractal Bias Confluence Detector, is based on the idea that the market exhibits fractal behaviour. The origin of the idea traces back to 1963, when Benoit Mandelbrot analyzed the fluctuations in cotton prices over a time series starting in 1900, discovering that price changes exhibited scale-invariant patterns. This means that the curve representing daily price changes mirrored the shape of monthly price changes, highlighting the fractal nature of market behaviour. When applied to swing points across multiple timeframes (MTF), this concept suggests that swing points demonstrate similar patterns regardless of the timeframe being analyzed. These self-similar fractal structures provide traders with insights into market reversals and trends, making them a powerful tool for multi-timeframe analysis.
A Swing Point is made up of three main parts: a move away from the last Break level; forming a peak (pivot point) with a Fakeout of the peak (explained through an example later); and a subsequent move away from it. These swing points recur across all timeframes as part of cyclical momentum patterns, meaning each swing point gives rise to a new cycle of market movement. Due to the fractal nature of the market, larger cycles encompass multiple smaller ones.
The theory behind the Fractal Bias Confluence Detector utilizes the idea that the market movements are fractal in nature and illustrates how such swing points can be identified across MTFs. To do so, we examine the Peak Fakeouts within these cycles, as they form. It is not possible to know in advance how long each of these moves will last, but a Swing Point will often occur with a Peak Fakeout. Therefore, the most critical element is to identify the Peak Fakeout.
The snapshot below captures a Peak Fakeout, as discussed earlier.
Similarly, the following snapshot shows various possible breakdowns of Higher Time Frame (HTF) cycles into smaller Lower Time Frame (LTF) movements. The chart contains a white table(not part of the indicator and shown for illustration purposes only).
To further illustrate. Consider the combination of Time Frames (TF) from the 2nd row (from the above snapshot). Cycle TF (1M), Setup TF (1W), Momentum TF (1D) etc.
Price movements in the 1M TF highlight the direction in which HTF traders are pushing the market. Often, when markets have broken out of a level, they tend to form a peak and can then pull back towards the prior breakout level. Once the pullback is beyond the last breakout level, in the opposite direction, we may say the peak formation is created, and directional bias has changed. This is also called Peak Fakeout. Due to the fractal nature of the market, Swing Points on the HTF will often constitute multiple Swing Points on the LTF, though they are not always in sync. However, after such peak formation, there is a high probability that the price might move away from the peak for at least 1 candle (in the cycle TF). This theory illustrates that once a new cycle is in play, we can then look at 1W (Setup TF) to look for possible in-sync movements, at least within that 1 candle of the HTF. Repeating the same for further lower TFs, we may arrive at a confluence of Fractal Bias and see how the movements in LTF are driven by the HTF momentum.
Another example within the chart:
Note: The above examples are just for illustration purposes, and other permutations and combinations of movements across multiple TFs are also possible.
This indicator aims to help users identify such fractal-bias-confluences, so that they can leverage the fractal nature of the market to get a holistic view. To do so, the indicator displays how the market has moved across multiple time frames, with respect to different historical levels.
Features:
1. The bias summary table
The following snapshot depicts the bias summary table at the bottom right of the chart.
1.1. Workings: The table will display, for various TFs, in the first four (starting from "current" to Prev ) rows, one of the following.
"F/H" , " Acronym for the failed break of the previous high",
"F/L" , " Acronym for the failed break of the previous low",
"B/H" , " Acronym for the break of the previous high",
"B/L" , " Acronym for the break of the previous low",
"IN" , " Acronym for an inside candle (never broke high or low of perv candle)",
"OT" , " Acronym for an outside candle (broke both high and low of previous candle and closing price is in between previous high and low)".
Note: these acronyms are customizable according to the user's choice of terminology in any language, as shown in the snapshot below.
1.1.1 In the above snapshot, the 1st row, called "Current", shows how the current candle is evolving with respect to the previous one. The "previous" row shows how the previous candle closed with respect to the pre-previous one. The next two rows represent the bias of the pre-previous and pre-pre-previous in a similar manner. By default, the bias is updated in real-time, even for the already closed historical candles. For example, if the previous 4H candle closed as a B/H and the current price then comes below the pre-previous 4H candle high, then the bias of the previous candle will get updated to F/H. This informs the user that the break above the pre-previous high has failed. However, the user has the option to turn this off. The information in these four rows shows the user how the market is moving currently and how it evolved before reaching the current price levels.
Note: The calculation done by the indicator is to keep track of how the price is moving with respect to the last candle levels in real-time. This means if the price first goes above the previous high and then goes below the previous low, the indicator is equipped to display what happened in the most recent time. The snapshot below shows the option to turn on/off such updates in the bias summary table.
Note: While the bias summary table is turned on, the user also has the option to turn off Prev and Prev rows, as shown in the snapshot below.
1.1.2 The 2nd to last row, called CL/CS(Consecutive Long/Short), shows whether consecutive (2+) breaks of high/low happened or not in one direction without taking out the previous candle's range in the opposite direction. When conditions are met, it will show the number of times the price has been pushed in one direction (in the above manner), followed by "L" for long and "S" for short, for each TF, for example, "4L". It gets updated in real-time for each push in the same direction. Furthermore, a good analogy of "4L" on an HTF is 4 consecutive Break of Structure (BOS) (in the same direction) on LTF, without a Change of Character (CHoCH). Another example would be Stacey Burke's 3 consecutive rises that can be mapped in the indicator, if the conditions are met for "3L" for a given TF.
1.1.3 The last row, FRC/FGC, stands for the first red/green candle. It shows whether the last candle of a TF has closed as green (i.e., close>open) after posting two red candles (i.e., close<open). This helps understand possible short-term retracements in price movements.
1.2 Customizability
1.2.1 We provide a wide range of customizable options, including multiple time frames to choose from for each type of TFs. This is shown in the snapshot below.
1.2.2 All the acronyms on the summary table are customizable and can be user-defined, including text, background color and transparency. This is shown in the snapshot below.
2. High-low lines
2.1 We also show the high and low of various TFs, including the current high and low lines (which are updated in real-time. This can be observed in one of the previous snapshots.
2.2 Previous high, low and close lines can be extended (for Cycles, Setups and Momentum TFs). Their style and thickness are also customizable. This can be observed in one of the previous snapshots.
Note: The user has the option to turn all the lines off. Sub-options include turning off the current line only. Changing the color, thickness, and transparency of the lines. This can be observed in one of the previous snapshots.
3. Last known Break / Failed Break lines.
3.1 We also depict the last known Break and Failed break lines for the user to have all the important levels at their disposal. This can be observed in one of the previous snapshots.
Note: The user has the option to turn this on/off.
4. Magnifier Box
4.1 We have provided the user to look at thirty 1m candles inside a magnifier box while they are in a higher TF chart.
The user has the option to turn this on/off.
5. Moving Averages (MA)
We have also grouped some built-in MA options for the user to utilize along with other elements of the indicator to help them get another layer of confluence.
The user has the option to turn this on/off.
Disclaimer:
The indicator leverages pre-existing theories of market movements. These can be found in decades-old published materials (like books, journals, public lectures accessible over popular video-sharing websites, etc.). As such, we do not claim to have any exclusive rights over the underlying theories. There are many analogous theories and nomenclatures that users can map onto this indicator. Users may also use the indicator in combination with other indicators.
1. Educational Use Only
The "MTF Fractal Bias Confluence Detector" is provided for educational purposes only. It does not constitute an offer, or an obligation, or a guarantee, of profitable trades or loss prevention.
2. No Financial Advice
This tool should not be viewed as financial advice for either trading or investment(s).
3. User Responsibility
Users alone bear all risks associated with any decisions they make using this tool. Past performance does not guarantee future results.
By using the "MTF Fractal Bias Confluence Detector," you acknowledge that you have read, understood and accepted this disclaimer in its entirety.
JJ Open High and Open Low FinderThis script identifies candles where the open price matches the high price (Open High) and where the open price matches the low price (Open Low). It highlights these candles with labels directly on the chart, making it easy for traders to spot these conditions in real-time.
Features :
- Red "OH" label below candles for Open High.
- Green "OL" label above candles for Open Low.
Use this tool to enhance your trading insights.
** Disclaimer **: This script is for educational purposes only and should not be considered financial advice.
Intelligent Support & Resistance Lines (MTF)This script automatically detects and updates key Support & Resistance (S/R) levels using a higher timeframe (MTF) approach. By leveraging volume confirmation, levels are only identified when significant volume (relative to the SMA of volume) appears. Each level is drawn horizontally in real time, and whenever the market breaks above a resistance level (and retests it), the script automatically converts that resistance into support. The opposite occurs if the market breaks below a support level.
Key Features:
Multi-Timeframe (MTF) Data
Select a higher timeframe for more robust S/R calculations.
The script fetches High, Low, Volume, and SMA of Volume from the chosen timeframe.
Automatic Role Reversal
Resistance becomes Support if a breakout retest occurs.
Support becomes Resistance if a breakdown retest occurs.
Dynamic Line Width & Labeling
Each S/R line’s thickness increases with additional touches, making frequently tested levels easier to spot.
Labels automatically display the number of touches (e.g., “R 3” or “S 2”) and can have adjustable text size.
Volume Threshold
Only significant pivots (where volume exceeds a specified multiplier of average volume) are plotted, reducing noise.
Horizontal Offset for Clarity
Lines are drawn with timestamps instead of bar_index, ensuring that old levels remain visible without chart limitations.
Adjustable Maximum Levels
Maintain a clean chart by limiting how many S/R lines remain at once.
How It Works:
Pivot Detection: The script identifies swing highs and lows from the higher timeframe (timeframeSR).
Volume Check: Only pivots with volume ≥ (SMA Volume * volumeThreshold) qualify.
Line Creation & Updates: New lines are drawn at these pivots, labeled “R #” or “S #,” indicating how many times they’ve been touched.
Role Reversal: If price breaks above a resistance and retests it from above, that line is removed from the resistance array and re-created in the support array (and vice versa).
Inputs:
Timeframe for S/R: Choose the higher timeframe for S/R calculations.
Swing Length: Number of bars to consider in a pivot calculation.
Minimum Touches: Minimum required touches before drawing or updating a level.
Volume Threshold (Multiplier): Determines how much volume (relative to SMA) is needed to confirm a pivot.
Maximum Number of Levels: Caps how many S/R lines can be shown at once.
Color for Resistance & Color for Support: Customize your preferred colors for lines and labels.
Label Size: Select from "tiny", "small", "normal", "large", or "huge" to resize the labels.
Disclaimer:
This script is intended for educational purposes and should not be interpreted as financial or investment advice. Always conduct your own research or consult a qualified professional before making trading decisions.
DCA Alpha 1.0 Trading Tool for Dollar-Cost Averaging
Description:
DCA Alpha 1.0 is a precision-engineered trading tool designed to assist traders and investors in accumulating assets during market downturns. Using proprietary algorithms that combine momentum decay, extreme price deviation metrics, trend dynamics, divergence analysis, and mean regression, it identifies potential bottom extreme zones in various asset classes such as indices, stocks, crypto, and commodities.
This indicator highlights market conditions where assets are oversold, undervalued, or experiencing capitulation—providing disciplined, unleveraged dollar-cost averaging (DCA) opportunities. Ideal for long-term growth strategies, DCA Alpha 1.0 helps cut through market noise, pinpointing moments of peak fear and maximum reward potential.
Whether navigating volatile crypto markets, timing corrections in indices, or accumulating commodities, DCA Alpha 1.0 serves as a vital tool for mastering the art of buying low and building your assets up strategically.
Instructions:
Getting Started:
Add the Indicator:
Install DCA Alpha 1.0 on your TradingView chart.
Select your preferred asset class: stocks, indices, crypto, or commodities.
Choose an appropriate timeframe (e.g., daily or weekly for long-term DCA strategies).
Customize Inputs: Adjust the following settings to align with your strategy:
Percentage of Equity to Trade: Define the portion of your portfolio to allocate per signal (default: 1% equity).
Profit Target Percentages: Set thresholds for locking in gains (default: 50% on lower timeframes, 500% on higher timeframes).
Zones and Signals:
Extreme Negative Zones:
What It Represents:
These zones highlight conditions where prices are deeply oversold, indicating extreme bearish sentiment. The market is likely nearing a bottom, offering high-probability buying opportunities.
Entry Signals:
When the price enters these extreme negative zones, visual markers (e.g., green triangles or other indicators) will signal a potential buying opportunity. These moments are indicative of market exhaustion, signaling that a reversal could be imminent.
Momentum Decay & Divergence:
Momentum decay occurs when price movement slows over time. In extreme negative zones, if prices continue to fall but at a diminishing rate (e.g., decreased volume or a fading oscillator), it suggests weakening bearish momentum. This, coupled with bullish divergence (oscillator forming higher lows while price makes lower lows), signifies a reversal, making it an ideal point to consider dollar-cost averaging into the asset.
Neutral Zones:
What It Represents:
The neutral zone is a state of market equilibrium, where prices are neither overbought nor oversold. The market is in a balanced state, with no strong trend emerging.
Mean Regression:
In a neutral zone, the market is reverting to its mean or average price after overreacting in either direction. A price transition from extreme zones (overbought/oversold) to the neutral zone suggests a reversion to the market's long-term average, making this a period of reduced volatility and uncertainty.
Entering or Exiting Neutral Zones:
Traders should avoid entering or exiting positions during neutral zone conditions unless transitioning from an extreme zone (negative or positive). Transitioning from an extreme negative zone to neutral may suggest an opportunity to accumulate assets gradually, while a shift from neutral to an extreme negative zone may indicate a deeper correction and warrant caution.
Momentum Decay & Divergence (Exiting Neutral Zone):
If prices are rising but the oscillator shows lower highs (bearish divergence), and momentum is fading, this could signal a pullback. A transition out of the neutral zone in this context may prompt traders to hold off on new positions or consider profit-taking.
Extreme Positive Zones:
What It Represents:
Markets can also become overbought or overvalued. When price enters extreme positive zones, the asset may be overvalued, suggesting potential selling or a waiting period.
Exit Signals:
Red triangle indicators signal potential exit points when prices reach overbought conditions, signaling a time to lock in profits and reduce exposure.
Momentum Decay & Divergence (Exiting Positive Zone):
When prices are making new highs but momentum is weakening (momentum decay) and the oscillator is showing lower highs (bearish divergence), this could indicate a faltering rally. Such conditions represent an ideal time to reduce exposure or exit positions.
Key Inputs for Customization:
Percentage of Equity to Trade:
This setting allows you to allocate a portion of your total portfolio per buy signal. By default, 1% of equity is used per signal, but this can be adjusted based on your risk tolerance and strategy.
Profit Target Percentages:
These thresholds help lock in gains once the price moves a set percentage in your favor.
Lower Timeframes: Default profit target of 50%.
Higher Timeframes: Default profit target of 500%.
These settings can be customized for specific risk/reward preferences.
Warning!!! : Aggressive Mode
Aggressive Mode is an advanced feature designed for traders who want to increase the frequency of signals during periods of market volatility. This mode will trigger more frequent entries, even into slightly less extreme zones, capturing short-term reversals.
What Aggressive Mode Does:
It amplifies signals by allowing the tool to identify more frequent price reversals, including brief market corrections, increasing trade frequency. While this can offer more trading opportunities, it also exposes you to higher risk.
Warning:
Aggressive Mode should be used only by experienced traders familiar with short-term volatility. The increased frequency of signals could lead to higher risk exposure. Ensure robust risk management practices, such as stop-loss orders and profit-taking strategies, are in place before activating this mode.
Default Setting:
Aggressive Mode is disabled by default. It can be activated at your discretion based on your experience level and risk appetite.
Best Practices:
Focus on High-Quality Assets: Prioritize assets with strong recovery potential (e.g., major indices, blue-chip cryptocurrencies).
Use Longer Timeframes: Minimize market noise and optimize your DCA strategy by focusing on higher timeframes (e.g., daily or weekly charts).
Review Trading Inputs: Regularly adjust your inputs to ensure they align with your financial goals and risk tolerance.
Implement Risk Management: Use stop-loss orders and profit targets to manage risk, especially when using Aggressive Mode.
Disclaimer:
DCA Alpha 1.0 is designed specifically for unleveraged, long-term dollar-cost averaging strategies. It is not intended for day trading or leveraged positions. The tool excels at identifying market dips but cannot guarantee success. Users are fully responsible for their own risk management, including the use of stop-losses, profit targets, and position sizing.
Aggressive Mode increases trade frequency and may lead to higher exposure and potential losses. Only experienced traders should consider using this mode. Always understand the risks involved before incorporating this tool into your trading strategy.
Resistance & SupportThis indicator combines multiple analytical methods to calculate potential support and resistance levels for the upcoming trading day, leveraging historical price data. The calculations are based on three key areas:
Pivot Points: These are calculated using the previous day's high, low, and close values to provide central price levels, along with first and second-level support and resistance (S1, S2, R1, R2). These levels are commonly used in technical analysis and can serve as reference points for market entries and exits.
3-Day Price Average (3DBP): This value provides a short-term trend signal by averaging the high, low, and close prices over the past three days. The indicator helps identify whether the market has been trading at higher or lower levels recently, which can signal bullish or bearish trends.
Trend Detection: The script also includes a short-term and long-term trend analysis:
Short-Term Trend: The prior day’s 3DBP is compared to the previous day’s 3DBP to gauge the market's short-term direction.
Long-Term Trend: The prior close is compared to the open from 50 days ago, offering an indication of the overall market trend.
These components work together to provide actionable insights on potential entry points. For example:
In a bullish market, support levels may act as potential entry points for long trades when the price retraces.
In a bearish market, resistance levels may act as potential entry points for short trades upon price rejection.
The Trend Table at the top right of the chart displays the short-term and long-term trend information for quick reference. It shows whether the trends are bullish or bearish based on the calculations above.
While originally optimized for the EUR/USD currency pair, this indicator can be applied to other forex pairs. However, results may vary depending on the instrument, and further testing is recommended for non-EUR/USD pairs.
Usage Notes:
Pivot points can often act as both support and resistance. While they provide useful reference levels, in volatile markets, these levels may not always hold. Tight stop-losses are recommended if trading near these levels.
The 3DBP offers insight into past market behavior, and although it’s not guaranteed to act as support or resistance, it can help identify zones of interest in the short term.
This indicator is designed to provide a structured approach to price action analysis, incorporating widely-recognized methods like pivot points and trend detection, while adding unique elements like the 3DBP to enhance its utility.
Ultra Market StructureThe Ultra Market Structure indicator detects key market structure breaks, such as Break of Structure (BoS) and Change of Character (CHoCH), to help identify trend reversals. It plots lines and labels on the chart to visualize these breakpoints with alerts for important signals.
Introduction
This script is designed to help traders visualize important market structure events, such as trend breaks and reversals, using concepts like Break of Structure (BoS) and Change of Character (CHoCH). The indicator highlights internal and external price levels where the market shifts direction. It offers clear visual signals and alerts to keep traders informed of potential changes in the market trend.
Detailed Description
The indicator focuses on detecting "market structure breaks," which occur when the price moves past significant support or resistance levels, suggesting a potential reversal or continuation of the trend.
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Type of structure
Internal Structure: Focuses on smaller, shorter-term price levels within the current market trend.
External Structure: Focuses on larger, longer-term price levels that may indicate more significant shifts in the market.
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Key events
Break of Structure (BoS): A market structure break where the price surpasses a previous high (bullish BoS) or low (bearish BoS).
Change of Character (CHoCH): A shift in market behavior when the price fails to continue in the same direction, indicating a possible trend reversal.
Once a break or shift is detected, the script plots lines and labels on the chart to visually mark the breakpoints.
It also provides alerts when a BoS or CHoCH occurs, keeping traders informed in real-time.
The indicator can color the background and candles based on the market structure, making it easy to identify the current trend.
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Special feature
At news events or other momentum pushes most structure indicators will go into "sleep mode" because of too far away structure highs/lows. This indicator has a structure reset feature to solve this issue.
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Detects Break of Structure (BoS) and Change of Character (CHoCH) signals.
Marks internal and external support/resistance levels where market trends change.
Provides visual cues (lines, labels) and real-time alerts for structure breaks.
Offers background and candle color customization to highlight market direction.
Forex Heatmap█ OVERVIEW
This indicator creates a dynamic grid display of currency pair cross rates (exchange rates) and percentage changes, emulating the Cross Rates and Heat Map widgets available on our Forex page. It provides a view of realtime exchange rates for all possible pairs derived from a user-specified list of currencies, allowing users to monitor the relative performance of several currencies directly on a TradingView chart.
█ CONCEPTS
Foreign exchange
The Foreign Exchange (Forex/FX) market is the largest, most liquid financial market globally, with an average daily trading volume of over 5 trillion USD. Open 24 hours a day, five days a week, it operates through a decentralized network of financial hubs in various major cities worldwide. In this market, participants trade currencies in pairs , where the listed price of a currency pair represents the exchange rate from a given base currency to a specific quote currency . For example, the "EURUSD" pair's price represents the amount of USD (quote currency) that equals one unit of EUR (base currency). Globally, the most traded currencies include the U.S. dollar (USD), Euro (EUR), Japanese yen (JPY), British pound (GBP), and Australian dollar (AUD), with USD involved in over 87% of all trades.
Understanding the Forex market is essential for traders and investors, even those who do not trade currency pairs directly, because exchange rates profoundly affect global markets. For instance, fluctuations in the value of USD can impact the demand for U.S. exports or the earnings of companies that handle multinational transactions, either of which can affect the prices of stocks, indices, and commodities. Additionally, since many factors influence exchange rates, including economic policies and interest rate changes, analyzing the exchange rates across currencies can provide insight into global economic health.
█ FEATURES
Requesting a list of currencies
This indicator requests data for every valid currency pair combination from the list of currencies defined by the "Currency list" input in the "Settings/Inputs" tab. The list can contain up to six unique currency codes separated by commas, resulting in a maximum of 30 requested currency pairs.
For example, if the specified "Currency list" input is "CAD, USD, EUR", the indicator requests and displays relevant data for six currency pair combinations: "CADUSD", "USDCAD", "CADEUR", "EURCAD", "USDEUR", "EURUSD". See the "Grid display" section below to understand how the script organizes the requested information.
Each item in the comma-separated list must represent a valid currency code. If the "Currency list" input contains an invalid currency code, the corresponding cells for that currency in the "Cross rates" or "Heat map" grid show "NaN" values. If the list contains empty items, e.g., "CAD, ,EUR, ", the indicator ignores them in its data requests and calculations.
NOTE: Some uncommon currency pair combinations might not have data feeds available. If no available symbols provide the exchange rates between two specified currencies, the corresponding table cells show "NaN" results.
Realtime data
The indicator retrieves realtime market prices, daily price changes, and minimum tick sizes for all the currency pairs derived from the "Currency list" input. It updates the retrieved information shown in its grid display after new ticks become available to reflect the latest known values.
NOTE: Pine scripts execute on realtime bars only when new ticks are available in the chart's data feed. If no new updates are available from the chart's realtime feed, it may cause a delay in the data the indicator receives.
Grid display
This indicator displays the requested data for each currency pair in a table with cells organized as a grid. Each row name corresponds to a pair's base currency , and each column name corresponds to a quote currency . The cell at the intersection of a specific row and column shows the value requested from the corresponding currency pair.
For example, the cell at the intersection of a "EUR" row and "USD" column shows the data retrieved for the "EURUSD" currency pair, and the cell at the "USD" row and "EUR" column shows data for the inverse pair ("USDEUR").
Note that the main diagonal cells in the table, where rows and columns with the same names intersect, are blank. The exchange rate from one currency to itself is always 1, and no Forex symbols such as "EUREUR" exist.
The dropdown input at the top of the "Settings/Inputs" tab determines the type of information displayed in the table. Two options are available: "Cross rates" and "Heat map" . Both modes color their cells for light and dark themes separately based on the inputs in the "Colors" section.
Cross rates
When a user selects the "Cross rates" display mode, the table's cells show the latest available exchange rate for each currency pair, emulating the behavior of the Cross Rates widget. Each cell's value represents the amount of the quote currency (column name) that equals one unit of the base currency (row name). This display allows users to compare cross rates across currency pairs, and their inverses.
The background color of each cell changes based on the most recent update to the exchange rate, allowing users to monitor the direction of short-term fluctuations as they occur. By default, the background turns green (positive cell color) when the cross rate increases from the last recorded update and red (negative cell color) when the rate decreases. The cell's color reverts to the chart's background color after no new updates are available for 200 milliseconds.
Heat map
When a user selects the "Heat map" display mode, the table's cells show the latest daily percentage change of each currency pair, emulating the behavior of the Heat Map widget.
In this mode, the background color of each cell depends on the corresponding currency pair's daily performance. Heat maps typically use colors that vary in intensity based on the calculated values. This indicator uses the following color coding by default:
• Green (Positive cell color): Percentage change > +0.1%
• No color: Percentage change between 0.0% and +0.1%
• Bright red (Negative cell color): Percentage change < -0.1%
• Lighter/darker red (Minor negative cell color): Percentage change between 0.0% and -0.1%
█ FOR Pine Script™ CODERS
• This script utilizes dynamic requests to iteratively fetch information from multiple contexts using a single request.security() instance in the code. Previously, `request.*()` functions were not allowed within the local scopes of loops or conditional structures, and most `request.*()` function parameters, excluding `expression`, required arguments of a simple or weaker qualified type. The new `dynamic_requests` parameter in script declaration statements enables more flexibility in how scripts can use `request.*()` calls. When its value is `true`, all `request.*()` functions can accept series arguments for the parameters that define their requested contexts, and `request.*()` functions can execute within local scopes. See the Dynamic requests section of the Pine Script™ User Manual to learn more.
• Scripts can execute up to 40 unique `request.*()` function calls. A `request.*()` call is unique only if the script does not already call the same function with the same arguments. See this section of the User Manual's Limitations page for more information.
• Typically, when requesting higher-timeframe data with request.security() using barmerge.lookahead_on as the `lookahead` argument, the `expression` argument should use the history-referencing operator to offset the series, preventing lookahead bias on historical bars. However, the request.security() call in this script uses barmerge.lookahead_on without offsetting the `expression` because the script only displays results for the latest historical bar and all realtime bars, where there is no future information to leak into the past. Instead, using this call on those bars ensures each request fetches the most recent data available from each context.
• The request.security() instance in this script includes a `calc_bars_count` argument to specify that each request retrieves only a minimal number of bars from the end of each symbol's historical data feed. The script does not need to request all the historical data for each symbol because it only shows results on the last chart bar that do not depend on the entire time series. In this case, reducing the retrieved bars in each request helps minimize resource usage without impacting the calculated results.
Look first. Then leap.
Dynamic Buy/Sell VisualizationDynamic Trend Visualization Indicator
Description:
This simple and easy to use indicator has helped me stay in trades longer.
This indicator is designed to visually represent potential buy and sell signals based on the crossover of two Simple Moving Averages (SMA). It's crafted to assist traders in identifying trend directions in a straightforward manner, making it an excellent tool for both beginners and experienced traders.
Features:
Customizable Moving Averages: Users can adjust the period length for both short-term (default: 10) and long-term (default: 50) SMAs to suit their trading strategy.
Visual Signals: Dynamic lines appear at the points of SMA crossover, with labels to indicate 'BUY' or 'SELL' opportunities.
Color and Style Customization: Customize the appearance of the buy and sell lines for better chart readability.
Alert Functionality: Alerts are set up to notify users when a crossover indicating a buy or sell condition occurs.
How It Works:
A 'BUY' signal is generated when the short-term SMA crosses above the long-term SMA, suggesting an upward trend.
A 'SELL' signal is indicated when the short-term SMA crosses below the long-term SMA, pointing to a potential downward trend.
Use Cases:
Trend Following: Ideal for markets with clear trends. For example, if trading EUR/USD on a daily chart, setting the short SMA to 10 days and the long SMA to 50 days might help in capturing longer-term trends.
Scalping: In a volatile market, setting shorter periods (e.g., 5 for short SMA and 20 for long SMA) might catch quicker trend changes, suitable for scalping.
Examples of how to use
* Short-term for Quick Trades:
SMA 5 and SMA 21:
Purpose: This combination is tailored for day traders or those looking to engage in scalping. The 5 SMA will react rapidly to price changes, providing early signals for buy or sell opportunities. The 21 SMA, being a Fibonacci number, offers a slightly longer-term view to confirm the short-term trend, helping to filter out minor fluctuations that might lead to false signals.
* Middle-term for Swing Trading:
SMA 10 and SMA 50:
Purpose: Suited for swing traders who aim to capitalize on medium-term trends. The 10 SMA picks up on immediate market movements, while the 50 SMA gives insight into the medium-term direction. This setup helps in identifying when a short-term trend aligns with a longer-term trend, providing a good balance for trades that might last several days to a couple of weeks.
* Long-term Trading:
SMA 50 and SMA 200:
Purpose: Investors focusing on long-term trends would benefit from this pair. The crossover of the 50 SMA over the 200 SMA can indicate the beginning or end of major market trends, ideal for making decisions about long-term holdings that might span months or years.
Example Strategy if not using the Buy / Sell Label Alerts:
Entry Signal: Enter a long position when the shorter SMA crosses above the longer SMA. For example:
SMA 10 crosses above SMA 50 for a medium-term bullish signal.
Exit Signal: Consider exiting or initiating a short position when:
SMA 10 crosses below SMA 50, suggesting a bearish turn in the medium-term trend.
Confirmation: Use these crossovers in conjunction with other indicators like volume or momentum indicators for better confirmation. For instance, if you're using the 5/21 combination, look for volume spikes on crossovers to confirm the move's strength.
When Not to Use:
Sideways or Range-Bound Markets: The indicator might generate many false signals in a non-trending market, leading to potential losses.
High Volatility Without Clear Trends: Rapid price movements without a consistent direction can result in misleading crossovers.
As a Standalone Tool: It should not be used in isolation. Combining with other indicators like RSI or MACD for confirmation can enhance trading decisions.
Practical Example:
Buy Signal: If you're watching Apple Inc. (AAPL) on a weekly chart, a crossover where the 10-week SMA moves above the 50-week SMA could suggest a buying opportunity, especially if confirmed by volume increase or other technical indicators.
Sell Signal: Conversely, if the 10-week SMA dips below the 50-week SMA, it might be time to consider selling, particularly if other bearish signals are present.
Conclusion:
The "Dynamic Trend Visualization" indicator provides a visual aid for trend-following strategies, offering customization and alert features to streamline the trading process. However, it's crucial to use this in conjunction with other analysis methods to mitigate the risks of false signals or market anomalies.
Legal Disclaimer:
This indicator is for educational purposes only. It does not guarantee profits or provide investment advice. Trading involves risk; please conduct thorough or consult with a financial advisor. The creator is not responsible for any losses incurred. By using this indicator, you agree to these terms.
Intraday Stop Loss Calculator[fitfatq]Indicator Overview
Intraday Stop Loss Calculator is a practical tool designed for day traders. This indicator helps traders instantly calculate the loss percentage based on the high or low of the current K-bar relative to the entry price. It also displays the stop-loss risk based on the day's high or low. You can select either long or short mode, allowing the indicator to calculate the appropriate data according to your trading strategy.
Features
Current K-bar Stop Loss: Calculates and displays the loss percentage based on the high or low of the current K-bar, making it ideal for short-term trading decisions. Day Stop Loss: Calculates and displays the loss percentage based on the day's high (for short positions) or low (for long positions), helping you better manage risk by understanding the distance between the current price and key levels.
Adjustable Options
Minute Period: Users can select the minute period for the indicator, with a default of 5 minutes. Position Type: Choose between "Long" or "Short," and the indicator will automatically calculate the relevant stop-loss data based on your selection. Show Day Stop Loss: Users can choose whether to display the stop-loss percentage based on the day's high or low. The default is enabled.
Usage Instructions
Load the indicator, set the minute period, and choose the long or short mode. Depending on your trading strategy, decide whether to display the day's stop-loss percentage. When switching symbols, if the current K-bar has no movement, the indicator may temporarily not display information. This is normal behavior. Please wait for the next K-bar or manually refresh.
Basic Logic
The indicator calculates and displays the loss percentage based on the high or low of the current K-bar and the day's high or low, helping traders understand potential stop-loss risks in real-time. Users can adjust parameters such as color and transparency to ensure the indicator displays clearly and meets their expectations.
Notes
When switching symbols, if the K-bar has no movement, the indicator may not immediately update. This is due to Pine Script requiring data changes to trigger calculations. This indicator is ideal for users who frequently engage in day trading, helping you better manage risk and make timely decisions.
Additionally, please note that in the Chinese version of TradingView, the long/short options might be translated as "Short-term" and "Long-term," but this does not affect the functionality of the indicator.
Market Internals: VolumeThe indicator plots the total volume of the NYSE and NASDAQ exchanges and identifies periods with significant asymmetry between Up Volume and Down Volume. It can be used as an additional tool to confirm broad market sentiment.
Chart shows Total Volume (TVOL) bars for SPY daily chart. Green bars for UVOL>>DVOL, Red for DVOL>>UVOL. Neutral bars are gray. Blue line shows median TVOL.
Rationale:
Up Volume (UVOL) and Down Volume (DVOL) represent the total volume of stocks that have increased or decreased in price, respectively, compared to the previous session's closing price. The magnitude of the price change is irrelevant.
When UVOL is significantly higher than DVOL, it indicates a prevailing buying sentiment in the broad market. Conversely, when DVOL is higher, it signals prevailing selling sentiment.
Occasionally, the UVOL/DVOL (VOLD) ratio may be misaligned with the movement of the S&P index. The picture below illustrates an example of a day when the S&P declined, yet the UVOL was twice larger than DVOL. Such a divergence can suggest that the S&P was pulled down by a decline in a few large-cap stocks, while the broader market remained positive. In this case, the divergence led to a continuation of the rally.
Thus, VOLD, when combined with volume analysis, can be an effective tool for confirming market trends.
Parameters:
VOLD Ratio – minimum ratio of UVOL/DVOL or DVOL/UVOL. Indicator will color code volume columns when condition is true (“green” means buying; “red” selling).
Median Length – number of periods to calculate median TVOL.
Show Divergencies – indicator marks divergencies between price and volume sentiments on the main chart. Only works for SPY chart.
Users can also choose which exchanges (NASDAQ/NYSE) to use for volume calculation.
Notes:
Volume is shown in millions of contracts
Indicator should be used on the daily or higher timeframes. It won't work properly on the intraday charts
Disclaimer
This indicator should not be used as a standalone tool to make trading decisions but only in conjunction with other technical analysis methods.
Daily Open [Kintsugi Trading]Daily Open
The "Daily Open" indicator by Kintsugi Trading is designed to give traders clear and immediate access to daily open prices, enhancing their ability to spot key market levels and make informed trading decisions. The indicator dynamically changes the color of the plotted line based on the current price's relationship to the opening price of the regular market session. This visual aid helps traders quickly assess whether the current price is trading above or below the opening price of the session.
Key Features:
Daily Open Visualization: Automatically plots the daily open price on your chart, providing a clear reference point for daily price action.
Configurable Market Open Time: The indicator allows users to input the start time of the regular market session (default is set to 9:30 AM).
Color-Coded: The indicator dynamically adjusts the color of the daily open line and price labels based on whether the price is above or below the open, giving you quick visual cues about market sentiment.
Customization Options: Users can modify the line's appearance, including the color and style, to better fit their chart preferences.
Ideal For:
This indicator is particularly useful for day traders and those looking to closely monitor price action in relation to the market's opening level. It serves as a quick reference point for identifying potential bullish or bearish sentiment throughout the trading day.
Good luck with your trading!
Market Structure Based Stop LossMarket Structure Based Dynamic Stop Loss
Introduction
The Market Structure Based Stop Loss indicator is a strategic tool for traders designed to be useful in both rigorous backtesting and live testing, by providing an objective, “guess-free” stop loss level. This indicator dynamically plots suggested stop loss levels based on market structure, and the concepts of “interim lows/highs.”
It provides a robust framework for managing risk in both long and short positions. By leveraging historical price movements and real time market dynamics, this indicator helps traders identify quantitatively consistent risk levels while optimizing trade returns.
Legend
This indicator utilizes various inputs to customize its functionality, including "Stop Loss Sensitivity" and "Wick Depth," which dictate how closely the stop loss levels hug the price's highs and lows. The stop loss levels are plotted as lines on the trading chart, providing clear visual cues for position management. As seen in the chart below, this indicator dynamically plots stop loss levels for both long and short positions at every point in time.
A “Stop Loss Table” is also included, in order to enhance precision trading and increase backtesting accuracy. It is customizable in both size and positioning.
Case Study
Methodology
The methodology behind this indicator focuses on the precision placement of stop losses using market structure as a guide. It calculates stop losses by identifying the "lowest close" and the corresponding "lowest low" for long setups, and inversely for short setups. By adjusting the sensitivity settings, traders can tweak the indicator's responsiveness to price changes, ensuring that the stop losses are set with a balance between tight risk control and enough room to avoid premature exits due to market noise. The indicator's ability to adapt to different trading styles and time frames makes it an essential tool for traders aiming for efficiency and effectiveness in their risk management strategies.
An important point to make is the fact that the stop loss levels are always placed within the wicks. This is important to avoid what can be described as a “floating stop loss”. A stop loss placed outside of a wick is susceptible to an outsized degree of slippage. This is because traders always cluster their stop losses at high/low wicks, and a stop loss placed outside of this level will inevitably be caught in a low liquidity cascade or “wash-out.” When price approaches a cluster of stop losses, it is highly probable that you will be stopped out anyway, so it is prudent to attempt to be the trader who gets stopped out first in order to avoid high slippage, and losses above what you originally intended.
// For long positions: stop-loss is slightly inside the lowest wick
float dynamic_SL_Long = lowestClose - (lowestClose - lowestLow) * (1 - WickDepth)
// For short positions: stop-loss is slightly inside the highest wick
float dynamic_SL_Short = highestClose + (highestHigh - highestClose) * (1 - WickDepth)
The percentage depth of the wick in which the stop loss is placed is customisable with the “Wick Depth” variable, in order to customize stop loss strategies around the liquidity of the market a trader is executing their orders in.
ToxicJ3ster - Day Trading SignalsThis Pine Script™ indicator, "ToxicJ3ster - Signals for Day Trading," is designed to assist traders in identifying key trading signals for day trading. It employs a combination of Moving Averages, RSI, Volume, ATR, ADX, Bollinger Bands, and VWAP to generate buy and sell signals. The script also incorporates multiple timeframe analysis to enhance signal accuracy. It is optimized for use on the 5-minute chart.
Purpose:
This script uniquely combines various technical indicators to create a comprehensive and reliable day trading strategy. Each indicator serves a specific purpose, and their integration is designed to provide multiple layers of confirmation for trading signals, reducing false signals and increasing trading accuracy.
1. Moving Averages: These are used to identify the overall trend direction. By calculating short and long period Moving Averages, the script can detect bullish and bearish crossovers, which are key signals for entering and exiting trades.
2. RSI Filtering: The Relative Strength Index (RSI) helps filter signals by ensuring trades are only taken in favorable market conditions. It detects overbought and oversold levels and trends within the RSI to confirm market momentum.
3. Volume and ATR Conditions: Volume and ATR multipliers are used to identify significant market activity. The script checks for volume spikes and volatility to confirm the strength of trends and avoid false signals.
4. ADX Filtering: The ADX is used to confirm the strength of a trend. By filtering out weak trends, the script focuses on strong and reliable signals, enhancing the accuracy of trade entries and exits.
5. Bollinger Bands: Bollinger Bands provide additional context for the trend and help identify potential reversal points. The script uses Bollinger Bands to avoid false signals and ensure trades are taken in trending markets.
6. Higher Timeframe Analysis: This feature ensures that signals align with broader market trends by using higher timeframe Moving Averages for trend confirmation. It adds a layer of robustness to the signals generated on the 5-minute chart.
7. VWAP Integration: VWAP is used for intraday trading signals. By calculating the VWAP and generating buy and sell signals based on its crossover with the price, the script provides additional confirmation for trade entries.
8. MACD Analysis: The MACD line, signal line, and histogram are calculated to generate additional buy/sell signals. The MACD is used to detect changes in the strength, direction, momentum, and duration of a trend.
9. Alert System: Custom alerts are integrated to notify traders of potential trading opportunities based on the signals generated by the script.
How It Works:
- Trend Detection: The script calculates short and long period Moving Averages and identifies bullish and bearish crossovers to determine the trend direction.
- Signal Filtering: RSI, Volume, ATR, and ADX are used to filter and confirm signals, ensuring trades are taken in strong and favorable market conditions.
- Multiple Timeframe Analysis: The script uses higher timeframe Moving Averages to confirm trends, aligning signals with broader market movements.
- Additional Confirmations: VWAP, MACD, and Bollinger Bands provide multiple layers of confirmation for buy and sell signals, enhancing the reliability of the trading strategy.
Usage:
- Customize the input parameters to suit your trading strategy and preferences.
- Monitor the generated signals and alerts to make informed trading decisions.
- This script is made to work best on the 5-minute chart.
Disclaimer:
This indicator is not perfect and can generate false signals. It is up to the trader to determine how they would like to proceed with their trades. Always conduct thorough research and consider seeking advice from a financial professional before making trading decisions. Use this script at your own risk.
Buy-Sell Volume Bar Gauge [By MUQWISHI]▋ INTRODUCTION :
The Buy-Sell Volume Bar Gauge is developed to provide traders with a detailed analysis of volume in bars using a low timeframe, such as a 1-second interval, to measure the dominance of buy and sell for each bar. By highlighting the balance between buying and selling activities, the Buy-Sell Volume Bar Gauge helps traders identify potential volume momentum of a bar; aimed at being a useful tool for day traders and scalpers.
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▋ OVERVIEW:
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▋ METHODOLOGY:
The concept is based on bars from a lower timeframe within the current chart timeframe bar, where volume is categorized into Up, Down, and Neutral Volume, with each one displayed as a portion of a column plot. Up Volume is recorded when the price experiences a positive change, Down Volume occurs when the price experiences a negative change, and Neutral Volume is observed when the price shows no significant change.
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▋ INDICATOR SETTINGS:
(1) Fetch data from the selected lower timeframe. Note: If the selected timeframe is invalid (higher than chart), the indicator will automatically switch to 1 second.
(2) Price Source.
(3) Treating Neutral Data (Price Source) as
Neutral: In a lower timeframe, when the bar has no change in its price, the volume is counted as Neutral Volume.
Previous Move: In a lower timeframe, when the bar has no change in its price, the volume is counted as the previous change; “Up Volume” if the previous change was positive, and “Down Volume” if the previous change was negative.
Opposite Previous Move: In a lower timeframe, when the bar has no change in its price, the volume is counted as the opposite previous change; “Up Volume” if the previous change was negative, and “Down Volume” if the previous change was positive.
(4) Average Volume Length, it's used for lighting/darkening columns in a plot.
(5) Enable Alert.
(7) Total bought (%) Level.
(8) Total Sold (%) Level.
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▋ COMMENT:
The Buy-Sell Volume Bar Gauge can be taken as confirmation for predicting the next move, but it should not be considered a major factor in making a trading decision.
Periodic Moving AveragesIndicator plots three simple moving averages (MA) that are reset at the beginning of period, specified by a user.
Red MA is based on highs
Blue MA is based on close
Green MA one is based on lows.
Moving averages often act as support /resistance levels. They can also help to identify intraday trend. It is important to realize that none of the moving averages is universal as price behavior changes from day to day. On the chart I’ve highlighted several occurrences when one of MAs (different ones) provided support for price.
Parameters:
PERIOD – period for which MAs are plotted. They are reset at the beginning of each period. Period cannot be lower than chart’s timeframe
LENGTH – length of moving averages. If set to 0 then parameter is ignored and MAs are calculated on all bars, available in the period
VWAP? – if checked then moving averages will be calculated as volume weighted price
Disclaimer
This indicator should not be used as a standalone tool to make trading decisions but only in conjunction with other technical analysis methods.
HT: Intraday LevelsIndicator draws several most important intraday levels: last day RTH high/low, ETH high/low, Half Back, Day Close and current day RTH Day Open. These levels often act as support/resistance for intraday price movements. Also, they can help to assess day character and control of power.
Indicator can be used for ETH + RTH sessions.
Important notes:
• User must specify RTH session time, appropriate for his time zone and exchange
• Half-back is calculated as a middle line between RTH High and Low.
• Day Close is always equal to close of the last bar of the previous day
• RTH Day Open will be redrawn for the current day as soon as it is known (after RTH session opens and at least one bar gets confirmed).
Known issues:
• Day open will not be shown if there is no bar, clearly corresponding to RTH open time (e.g. if 4h timeframe is selected)
• For some ETH sessions it is not possible to determine session’s last bar (this is pine script limitation) until next day trading starts. This means that daily levels will be also update with only then.
Parameters:
Date – user can select date, for which levels will be plotted. Works only if “Use” check box is on. Otherwise, levels will be plotted for the last day. (“time” value doesn’t matter; unfortunately, there is no way to hide the input box)
RTH Open/Close time – it is important to specify time, appropriate for your time zone.
Time zone – your chart time zone (as UTC offset)
Visuals – controls visibility and colors
Script is published as an open source. It uses two libraries: Levels Lib and Functions Lib. First one demonstrates how to work with pine-script object model and arrays. You can also reuse it in your custom scripts where there is need to construct any support/resistance levels. The second library contains some useful functions for working with time and dates.
Disclaimer
This indicator should not be used as a standalone tool to make trading decisions but only in conjunction with other technical analysis methods.
ATR Grid Levels [By MUQWISHI]▋ INTRODUCTION :
The “ATR Levels” produces a sequence of horizontal line levels above and below the Center Line (reference level). They are sized based on the instrument's volatility, representing the average historical price movement on a selected higher timeframe using the average true range (ATR) indicator.
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▋ OVERVIEW:
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▋ IMPLEMENTATION:
The indicator starts by drawing a Center Line that is selected by the user from a variety of common levels. Then, it draws a sequence of horizontal lines above and below the Center Line, which are sized based on the most confirmed average true range (ATR) at the selected higher timeframe.
In the top right corner of the chart, there is a table displaying both the selected ATR (in the right cell) and the ATR of the current bar (in the left cell). This feature enables users to compare these two values. It's important to note that the ATR of the current bar may not be confirmed yet, as the market is still active.
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▋ INDICATOR SETTINGS:
# Section (1): ATR Settings
(1) ATR Period & Smoothing.
(2) Timeframe where ATR value imported from.
(3) To show/hide the table comparison between the current ATR and the ATR for the selected period. Also, ability to color the current ATR cell if it’s greater.
# Section (2): Levels Settings
(1) Selecting a Center Line level among a variety of common levels, which is taken as reference level where a sequence of horizontal lines plot above and below it.
(2) Size of grid in ATR unit.
(3) Number of horizontal lines to plot in a single side.
(4) Grid Side. Ability to plot above or below the Center Line.
(5) Lines colors, and mode.
(6) Line style.
(7) Label style.
(8) Ability to remove old lines, from previous HTF.
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▋ COMMENT:
The ATR Levels should not be taken as a major concept to build a trading decision.
Please let me know if you have any questions.
Thank you.
